Market report


London Block Exchange

25th January 2017

But it’s good to see 95 of the top 100 cryptoassets in the green!


But it’s good to see 95 of the top 100 cryptoassets in the green!

Looking at the market as a whole, you can see that it is generally still trading sideways. In fact, only five of the top 100 cryptoassets managed to lose value over the past day and, even then, they only decreased 3.5% on average. Not bad for a bearish market!

Funnily enough, the one that decreased the most was Cindicator, a predictive analytics project that had its ICO in October at a price of $0.01. Now trading at £0.19 ($0.27), it has still provided some juicy returns!

Why the drop? After being touted by Palm Beach Confidential — a group renowned for promoting NEO in early 2017, but then moved away from good research to pump and dumps — Cindicator’s CND token had to take a natural correction. What’s next for CND?

Finally, out of the top 10, only one of the projects has been following a different pattern than bitcoin’s over the past seven days. That project is EOS, which keeps on rising after positive news!

The latest development comes from Mike Novogratz, a famous Wall-Street investor who made around £175 million from an early ether play. He created a crypto fund — Galaxy Digital — which just announced a joint venture with EOS’ parent company for a £225 million EOS fund!


After bitcoin cash, are other projects now trying to dent bitcoin?

After more than a month of lacklustre performance, bitcoin is managing to hold tight to its £7k ($10k) support level and is now sitting at an average price of £8.1k ($11.6k). It’s possible that this means it “could be building a base for an eventual move higher”.

While ‘hodling’ is likely responsible for this stability, some believe we are rising slowly into a ‘bull trap’ over the next few days, where we will then see one final correction to the £6k ($8k) level in the second week of February. We don’t have a crystal ball but it will be interesting to watch!

It isn’t all just technical analysis though. After all the fear, uncertainty and doubt this month, Bitcoin is still facing some attacks by the industry! The latest dent came from Stripe, a major payment systems company that was an early investor of Stellar Lumens.

Stellar Lumens is the non-profit organization behind XLM, a token that aims at bringing financial services to the unbanked. XLM jumped more than 20% after Stripe announced they will stop supporting bitcoin payments.

Conflicting incentives? Possibly! Despite acknowledging they are interested in Bitcoin’s new Lighting Network — a scaling solution that is now being implemented in Bitcoin’s protocol — Stripe’s latest comments seem to dismiss such advances!


Filter the noise and stay ahead of the pack

A rumour about undisclosed good news coming from China’s government on January 25th was shared on Twitter. Nothing has been released yet but keep following!

Meanwhile, the first US-China blockchain conference — Blockchain Connect Conference — will start tomorrow in San Francisco!

Bittrex, a major US-based exchange focused on alternative cryptoassets, is delisting three tokens from its platform tomorrow — APX, BTCD and MYST.


An insight a day could give you more profits to play

Bitmex’s blog usually publishes solid research and has just released the best overview of Bitcoin’s Lightning Network so far. Short summary in the conclusion!

Weiss Ratings, a financial ratings company, has just released its first cryptoassets report. A lot of people disagree with its results as Bitcoin got a C-!

The rapper 50 Cent “just discovered” he has around £5 million ($8 million) in bitcoin, after having accepted BTC payments for one of his albums back in 2014!

  • cryptoassets
  • cindicator
  • palm beach confidential
  • Stripe
  • bitmex
  • IOTA
  • 50 cent
  • ICO
  • Stellar Lumens