Blocksmatter Daily Crypto Morning March 08, 2019

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Good Friday morning! 

The crypto markets reported mixed performance with most of the top 100 cryptocurrencies recording moderate gains or losses over the last 24h. The total market cap remained stable and is hovering  around 134 billion in the last 24h and while the trading volume came in a USD 30 billion range. The market breadth in top 100 was neutral with an advance to decline ratio of 52/48. In the top 100, Enjin Coin was the best performer with a +86.3% pop as it announced a partnership with Unity to introduce millions of existing game developers to blockchain development. Enjin Coin was followed by Chain (+44.9%) and Aurora (+30.6%). Chain announced that former Rovio Entertainment executive Kasim Zorlu has joined its leadership team as SVP, Head of Growth to drive customer acquisition and platform growth. Bitcoin is almost stable at USD 3,925. Ether lost -1.0% to USD 318 while XRP is marginally down to USD 0.3154, in the last 24h. In the top 10, Litecoin surged by +1.4% in the last 24h, flippening EOS to claim the fourth position by market capitalization. In the top 10, apart from Litecoin, Stellar posted positive performance. It is worth noting that Litecoin has recorded stupendous returns of more than +85.0% Year To Date, aided by factors such as growth in the Lightning Network, anticipation surrounding the upcoming halving and Venezuela’s approval of Bitcoin and Litecoin for remittances.

After the launch of Bitcoin-backed ETP managed by the Amun Group, SIX Swiss stock exchange, has announced the use of R3’s Corda Enterprise platform for their upcoming digital asset trading, settlement, and custody service while Binance announced that the Government of Argentina will be supporting Penance Labs development efforts for block chain and crypto revolution in the country with a grant of up to USD 50,000 on every project. Furthermore, the US state of Colorado is examining the possibility of implementing blockchain in water rights management and file a bill proposing that the Colorado Water Institute should be granted authority to study how blockchain technology can help improve its operations while France’s leading seaport, Marseille Fors Port has announced plans to join a blockchain pilot for supply chain and freight logistic ecosystem scheduled in June 2019. In regulatory development, the Canada Revenue Agency is reportedly auditing cryptocurrency investors in the country by sending questionnaires to the Canadian taxpayers asking their involvement in the digital asset investment in recent years whereas the Malaysian Securities Commission has issued two consultation papers seeking public feedback on the regulatory frameworks for ICOs and property crowdfunding and the public feedback will be used to determine financing limits, requirements and several types of criteria to regulate the market well.

Have a great weekend ahead!
Your Blocksmatter Team

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