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Crypto assets overview – Sep 11, 2016

A steady week in bitcoin ended preceded a drop of almost 5% overnight. The Bitcoin price was bullish the entire week, starting at $609, but ends the week at $602. 80% of Bitcoin trading volume is in CNY, followed by 11% in JPY. USD is 3rd with 5.6%. More detailed information can be found in the Bitcoin technical analysis.

A steady week in bitcoin preceded a drop of almost 5% overnight. The Bitcoin price was bullish the entire week, starting at $609, but ends the week at $602. 80% of Bitcoin trading volume is in CNY, followed by 11% in JPY. USD is 3rd with 5.6%. More detailed information can be found in the Bitcoin technical analysis.

In Bitcoin news; Deloitte, the largest of the ‘Big Four’ accounting firms, unveiled the company’s first Bitcoin ATM. The machine is operating in their Toronto office, where there is no regulation for BTM machine owners or manufacturers as they are not considered money transmitters. New BTM’s are being installed globally at a rate of 1.29 per day.

The SWIFT Institute released a Bitcoin report in which they assessed whether the global financial community is accepting Bitcoin as a valid currency. SWIFT found that a third of all the Bitcoins are held by investors and only a small minority use it as a medium of exchange. As an investment, however, it offers diversification since there is no correlation between Bitcoin and traditional asset classes.

Apple announced the integration of the payment app Circle, which supports Bitcoin, in the biggest update for iMessage so far. It will be released with the upcoming iOS 10 mobile operating system update and allow users to send each other money through the iMessage app.

  • halve their fees for the next month in the UK amidst Brexit concerns. At the same time the site has been blacklisted in Russia.
  • The Central Bank of Nigeria ceases dealings with local Bitcoin exchanges, citing a prerequisite of virtual currency regulation.
  • BitOasis launches a Bitcoin wallet and exchange in Dubai in an attempt to fill the Bitcoin needs of the Middle East and Northern Africa, where it was previously complicated to buy and sell Bitcoin.
  • DLT Financial, a London based start-up, is planning to launch a fund to track an index of 10 cryptocurrencies including Bitcoin, Ethereum and Ripple.
  • Antshares, a blockchain project focused on bringing digital assets to everyone, finished its ICO on wednesday raising a total of 6130 BTC.
  • Bitfinex announces a redemption of 1.1812% BFX tokens on the 1st of September, although volume on the exchange is still very low compared to before the hack.

Bitcoin Index Sep 11 2016

In Blockchain news; China has plans to use the blockchain for their social security system because it can facilitate trade and lower transaction costs. The National Count for Social Security Fund has $284.5 billion in assets under management.

US credit unions have formed a collaborative venture to explore the application of distributed ledgers for member-owned financial cooperatives. CULedger is fundraising to do for the credit union industry what R3 is doing for banks. They want their blockchain to potentially function as an asset custodian, improve record keeping, support remittance and settlement functions and even automate contracts.

WISeID, a personal security app for ID storage and ID verification, has included a public blockchain in their latest version. The app requires users to pass a facial recognition check before accessing the app. It acts as a dual factor authentication technology that sits on top of a blockchain. WISeKey have also released a software development kit for third party developers, giving them access to use the WISeID security features in their app.

Bloomberg reporters dig a bit deeper in the blockchain for banks hype. Clearing and settlement fees are currently around $100 billion today, a decentralized transaction ledger could save the banks 5% by 2022. But the investments done are still very limited if you consider the potential savings that could be made, so the blockchain industry is either hugely under-resourced, hugely over-optimistic or both.

In crypto assets this week; The price of Ethereum (ETH) stayed relatively stable despite Bitcoin going up. A big conference, Devcon2, will be hosted for three days, starting the 19th of September, where new projects will be announced that will be developed on the Ethereum blockchain.

  • ETH/USD:  Opened the week at $11.68,  closing at $11.74, up 0.5%
  • ETH/BTC:  Opened the week at Ƀ0.01917850,  closing at Ƀ0.01922394,  up 0.2%.

Ether Index Sep 11 2016

Ethereum Classic (ETH) loses ground. The DAO hacker now has access to the stolen funds, which is roughly 3.6 million Ethereum Classic. He moved the funds to a new address and sent 1,000 ETC to the Ethereum Classic development fund.

  • ETH/USD: Opened the week at $1.4731  closing at $1.3314, down 9.6%
  • ETH/BTC: Opened the week at Ƀ0.01930575,  closing at Ƀ0.01921585,  down 0.46%

Ethere Classic Sep 11 2016

Maidsafe (MAID) is in an uptrend. A fundraising campaign for the assets starts today on BnkToTheFuture. The campaign will run for 30 days. MaidSafe offers a decentralized cloud storage system where users who have free hard disk space on their own computer can be part of the decentralized network and get safecoins as a reward.

  • MAID/USD: Opened the week at $0.0905,  closing at $0.1032, up 14%
  • MAID/BTC: Opened the week at Ƀ0.00014797,  closing at Ƀ0.00017062, up 15%

Maidsafe Sep 11 2016

[BitCrystals (BCY)] hit all time highs recently as Everdreamsoft, a software development company specialized in online trading card games for smartphones, announced that Spells of Genesis, the first real trading card game that uses the blockchain, is almost ready launch. Everdreamsoft previously announced that it will burn 50% of the income from card sales, in BitCrystals, decreasing the supply over time.

  • [BCY/BTC]: Opened the week at Ƀ0.00044629,  closing at Ƀ0.00071937, up 61%

Bitcrystals Sep 11 2016

After all the hype around Monero (XMR), the first anonymous cryptocurrency, being added to several darknet marketplaces, reality kicked in and the coin went lower. There is no data yet indicating how much is being used on those marketplaces.

  • XMR/BTC: Opened the week at Ƀ0.02160660,  closing at Ƀ0.01731798, down 19%

Monero Sep 11 2016

Apple wants Jaxx wallet to remove all coins that are not on their ‘approved coins’ list from their app for the App Store, including Dash (DASH) and Ethereum Classic.

  • DASH/USD: Opened the week at $11.08,  closing at $11.24, up 1.4%
  • DASH/BTC: Opened the week at Ƀ0.01896970,  closing at Ƀ0.01847040, down 2.6%

Dash Sep 11 2016


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