Good morning! 

The crypto markets traded in a tight range of USD 139-140 billion, over the last 24h with a robust 24h trading volume in a range of USD 30 billion. However, according to a recent report conducted by crypto trading information portal The Tie, a huge percentage of cryptocurrency trading volume seen in the last few days is suspicious. Estimates were arrived at using average website visits versus reported trading volume and comparing this figure those found at the digital asset industry’s most reputable exchanges. Using this methodology, The Tie have argued that as much as 87% of the reported trading volume at crypto exchanges could be fraudulent and that real trading volume might be as low as USD 2.1 billion. In the top 100, the advance to decline ratio was weak at 32/64. Kin, which maintained its momentum with a +41.2% surge was the best performer in top the 100, followed by Enjin Coin (+14.0%), and Ravencoin (+13.7%). Bitcoin, Ether and XRP are all marginally down to USD 4,028, USD 139, and USD 0.3161 respectively in the last 24h, at the time of writing

Just when IBM senior executive revealed that at least two major US banks are considering whether to follow JP Morgan Chase to issue a digital currency, there comes news that Citi will not tow the path of fellow American bank JP Morgan to launch a bank-controlled cryptocurrency even though it began working towards it long ago. Nonetheless, on a positive note, AcomeA SGR, a leading Italian asset management company, has successfully completed an investment fund shares transaction test and related payment through Fundsquare’s blockchain-based infrastructure FundsDLT and the Italian API platform Fabrick. However, in a news item from the far east, Japan approved draft amendments to Japan's financial instruments and payment services laws, which would cap leverage in virtual currency margin trading at two to four times initial deposits. In blockchain applications, IBM continues to extend its lead in the blockchain space as it announced that Six international banks have reportedly signed letters of intent to issue their own stablecoins backed by their national fiat currencies on IBM’s now-live blockchain-powered payments network, “World Wire.”

Have a great day !
Your Blocksmatter Team

24h Top & Worst Performer

Crypto-Market News

Upcoming & Ongoing ICO's

Good morning! 

After consolidating around USD 135 billion market cap, over the last fortnight, the crypto markets surged ahead over the weekend reaching a market cap of USD 141 billion. However, the market cap slipped in the last one hour of trading to USD 140 billion. Although still robust, the 24h trading volumes came in slightly below the last week as it is in a USD 28 billion range. There were no bumper gains in the top 100, nonetheless, the advance to decline ratio was strong at 66/34. GXChain was the best performer in top 100, with +13.6% jump, followed by KuCoin Shares (+10.6%), and WAX (+9.0%). Bitcoin is marginally up +0.1% to USD 4,019 while Ether and XRP (-0.4% each) are slightly down at USD 140, and  USD 0.3165, respectively in the last 24h. Crypto.com Chain Token (CRO), the digital currency native to the new Crypto.com Chain, has been the standout performer from the beginning of this month. Its market cap has shot up more than 10.0x to USD 488 million, since March 03, 2019. Although, CRO’s market cap has tapered a bit since it reached the highest point of around USD 488 million on March 15, 2019, it still remains at an elevated level.  The thurst has ensured that CRO has entered in the top 25 list and now stands at 22nd position, by market cap. The token seems to have benefitted from listing announcements on Bittrex and Indodax. Furthermore, the Crypto.com Chain team also announced that it had partnered with an Indonesia-based dropship e-commerce company Yoshugi Media Group in addition to another announcement of listing on another crypto exchange, Upbit.

Intercontinental Exchange posted a tweet earlier this week teasing the expansion of its Cryptocurrency Data Feed service to include thousands of cryptocurrencies and hundreds of data sources while on regulatory front, the Governor of the State of Colorado has signed an act which is digital currency friendly known as ‘Colorado Digital Token Act’. In blockchain applicationin the insurance industry, Insurance giant AXA XL and insurance technology startup Assurely have jointly launched a new insurance product covering equity crowdfunding and Security Token Offerings while in China, insurance giant Ping An has partnered with Ethereum (ETH)-based decentralized artificial intelligence (AI) startup SingularityNET. Acording to a new report by BlockData, blockchain money transfers are 388x faster and 127x cheaper than legacy financial systems – shedding new light on how blockchain-based financial solutions are poised to disrupt the remittance system status quo.

Have a great day !
Your Blocksmatter Team

24h Top & Worst Performer

Crypto-Market News

Upcoming & Ongoing ICO's

Good Friday morning! 

The cryptocurrency markets are holding steady with an upward bias. The total market cap improved by about USD 1 billion to USD 13.5.5 billion, in the last 24h with a significant jump in the trading volumes to the USD 33 billion range. The market breadth in top 100 was robust with an advance to decline ratio of 72/28. In the top 100, Crypto.com Chain continued it’s golden run with a +39.4% pop and was the best performer. Crypto.com Chain was followed by Digitex Futures (+18.4%) and Qtum (+18.0%). Bitcoin and Ether were marginally up at USD 3,918 and USD 135 respectively while XRP is slightly down at USD 0.3123 in the last 24h.

Estonia-based Nasdaq-powered digital trading platform DX.Exchange is claiming an industry first with its launch of security token trading and security token offering (STO) listings even as the Chicago Board Options Exchange (CBOE) revelaled that it will not add a new Bitcoin (BTC) futures market in March.  In blockchain use cases from Europe, Bolsa de Madrid (BME), Spain’s largest stock exchange, said it expects to go live by year-end with a blockchain-based system for certifying collateral pledges after testing the technology while French commercial court clerks plan to use a blockchain-based platform to record changes in companies’ legal status within the country. Amidst widespread use of blockchain technology, the leader IBM continues to invest in the same with the latest adition to its arsenal of blockchain patents with an application for improving the security of permissioned blockchain networks. IBM’s investment in the technology is supported by the fact that there is a rise of enterprise blockchains and organizations are reportedly seeing real efficiencies and cost savings from its use. Over the past year, the U.S. SEC has been quite active in its involvement in the choppy waters of the bourgeoning crypto space. In a recent interview, SEC chair Clayton told Fox Business, “What I’m concerned about at the moment is if it can be reasonably demonstrated that the underlying trading is generally not manipulated, it’s happening on reliable venues with good rules and that custody is something we can feel comfortable about.” Separately, blockchain found another supporter in Rep. Kevin McCarthy, the current Republican Minority Leader in the United States House of Representatives, who said that that blockchain can make the U.S. Congress a more efficient and transparent place.

Have a great weekend ahead!
Your Blocksmatter Team

24h Top & Worst Performer

Crypto-Market News

Upcoming & Ongoing ICO's