weekly #93 – 4 october 2019
The following topics will be addressed in this weekly.
- Bundles performance
- New coins
- Triaconta tip
- Market overview
October for stocks has the reputation of being the most volatile month, earning it the nickname Rocktober. The end of October was also the start of the cryptocurrency bullrun of 2017. We are not there yet. This week we win some and we lose some. The Big 3 Bundle (+3%) again rises mainly on Ethereum (+5%) while Bitcoin and XRP have more modest gains What a week for Chainlink (+20%) and Cosmos (+14%), both added to the Top 30 Bundle (+3%) in the revision of July 2019. The profits fortunately compensate the currencies that fell in price led by NEM (-7%). NEM has just announced Catapult with aggregated transactions. You now pay the author and the distributor yourself instead of the distributor accepting your money and passing it to the author. It further removes trust in your purchases of books, songs etc.This has never been available on any blockchain, but the market does not seem impressed. These things take time to prove themselves.
Market developments required us this week to replace two coins in Penny Stock Bundle (+3%) outside of our regular two monthly schedule. The world of cryptocurrency moves a lot faster than any other asset class and this is especially true for the Penny Stock coins. Volume and liquidity are of paramount importance for these low-sat coins. Trading PundiX (-15%) and BitTorrent token (-3%) has become challenging and the difference between the entry price and the exit price is significant. We replaced the coins with two projects which are currently at the forefront of blockchain development.
Ren is the first and only open protocol that provides access to inter-blockchain liquidity for all decentralized applications. With Ren all decentralized applications can run in secret, preserving the privacy of all users and data. The protocol enables permissionless and private transfer of value between any blockchain in any cryptocurrency.
Fetch.AI launched on the Binance Launchpad on 25 February 2019. Today’s internet is built for e-commerce solutions but the new web needs to enable autonomous artificial intelligence solutions to perform various tasks for us. This requires building infrastructure and tools to make these “agents” deployable. Fetch.AI is building the deployment infrastructure, which brings a new AI-based autonomous machine economy to life.
A recent report showed that Ripple’s biggest rival SWIFT has trialled the Ripple technology for instant payments and found that the cryptocurrency can indeed do that fast and cheap. However, it said the technology is not yet ready for mainstream use. A claim that should be seen in the light of their own efforts to develop instant cross-border payments on existing infrastructure.
Pretty soon It is also no longer just the banks that can use XRP. BitPay, the leading cryptocurrency payment company, will allow its customers to pay thousands of merchants around the globe with Ripple’s native token XRP by the end of 2019. Ethereum was added on September 16. Until then Bitcoin and Bitcoin Cash were the only options.
Block.one, the company behind EOS negotiated a settlement with the American Securities and Exchange Commission (SEC) and needs to pay a $24 million fine for selling unlicensed unregistered securities to US citizens during their ICO in 2017. It seems like a lot, but is only 0.6% of the $4 billion they raised for their project. If anything it means EOS can leave this behind and look towards a bright future. It is also a signal to other projects there are deals to be made to get some regulatory and legal clarity regarding their ICO’s in the past.
Vechain joined the board of directors for trusted blockchains in China. The board is a state-run initiative directly under China’s Ministry of Industry and Information Technology. Current members are Alibaba, Huawei, Tencent and the Shanghai Stock Exchange. If you are looking for a legitimate and credible player in the cryptocurrency sector, look no further.
Who needs human adoption? The IOTA foundation announced the launch of the first autonomous, decentralized marketplace for devices. Dubbed “Industry marketplace”, it will trade goods and services, both physical and digital using IOTA’s decentralized device identity system.
IOTA is betting on the the early-mover advantage to cement its position in the Industry 4.0 market.