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June 2019 Cryptocurrency Blockchain & Alert Signal Report

June 2019 Blockchain & Alert Signal Analysis

By | Blockchain & Alert Signal Report, Coinscious Lab, Data Analytics | No Comments

Overview

Released monthly, this report consists of the following two sections: 

  1. Blockchain transaction statistics and simple correlation analysis to Bitcoin (BTC)  price, and 
  2. Summary of alert system statistics from June 1, 2019 to June 30, 2019. 

Our blockchain transaction statistics are based on Coinscious’ blockchain data for BTC, Ethererum (ETH), and Tether (USDT). For our analysis, we filter out all transactions that are less than $100,000 USD, 25 BTC, and 750 ETH. Next, we compare the flow of transaction volumes in and out, as well as the transaction amounts throughout the month. We also visualize the net transaction trend using BTC daily price.

In our alert system summary, we look at signals produced by Coinscious’ alert system such as:

  • price pump and dump signals,
  • volume spike and drop signals, and 
  • relative strength indicator (RSI) signals at daily ticks. 

Here, we provide investigate statistics on BTC, ETH, and XRP for USD, CAD, and USDT currencies for different cryptocurrency exchanges. The summary statistics illustrates how often extreme events occur for each market. 

Blockchain Transaction

Figure 1. Price versus net transaction correlation for large-value outstanding transactions between June 1 to June 30, 2019.

Cryptocurrency Blockchain Transaction - Price versus net transaction correlation BTC, ETH, USDT

Figure 1 illustrates BTC price and blockchain transactions going in and out of cryptocurrency exchanges for BTC, ETH, and USDT.  

The first row in Figure 1 demonstrates that BTC price has steadily increased in June. The net USDT transactions into cryptocurrency exchanges are positive throughout June. Interestingly, we see a positive correlation between BTC price and ETH net transactions – the price of BTC rises when ETH net transaction is positive, and the price of BTC falls when ETH net transaction is negative. 

The third row in Figure 1 illustrates that USDT had the most active transactions in June, followed by BTC and ETH. However, even though ETH had the smallest number of transactions, its transaction size is the greatest, followed by BTC and USDT as shown in the second row of Figure 1. 

Alert Signal Analysis

a) Bitstamp { BTC, ETH, XRP } / USD

Figure 2. Price pump and dump signals, volume spike signals, and RSI (14) signals at Bitstamp for BTC/USD, ETH/USD and XRP/USD between June 1 to June 30, 2019.

Blockchain - Price pump and dump signals, volume spike signals, and RSI (14) signals at Bitstamp for BTC/USD, ETH/USD and XRP/USD between June 1 to June 30, 2019.

BTC/USD trading pair at Bitstamp had a total of 53 price pump signals and 48 price dump signals.  The average price change was -0.20% within 15 minutes, and the maximum and minimum price changes were 3.76% and -4.04%, respectively. 

ETH/USD trading pair had a total of 40 price pump signals and 47 price dump signals. The average price change was -0.08%, and the maximum and minimum price changes were 1.80% and -3.45%, respectively. 

XRP/USD trading pair had a total of 51 price pump signals and 52 price dump signals. The average price change was -0.20%, and the maximum and minimum price changes were 3.24% and -5.92%. In comparison, the average and maximum price changes for XRP/USD were similar to BTC/USD. However, the largest price dump was 2.00% lower.  

In the second and third column of Figure 2, we can see that both BTC and ETH had higher volume spikes than XRP. RSI (14) on daily tick had several oversold signals (at 30), but did not trigger any overbought signals (at 70).

b) Kraken { BTC, ETH, XRP } / CAD

Figure 3. Price pump and dump signals, volume spike signals, and RSI (14) signals at Kraken for BTC/CAD, ETH/CAD and XRP/CAD between June 1 to June 30, 2019.

Blockchain - Price pump and dump signals, volume spike signals, and RSI (14) signals at Kraken for BTC/USD, ETH/USD and XRP/USD between June 1 to June 30, 2019.

BTC/CAD trading pair at Kraken had a total of 19 price pump signals and 40 price dump signals.  The average price change was -0.13% within 15 minutes, and the maximum and minimum price changes were 5.58% and -9.54%, respectively. 

ETH/CAD trading pairhad a total of 22 price pump signals and 46 price dump signals. The average price change was 0.15%, and the maximum and minimum price changes were 5.08% and -5.00%, respectively. 

XRP/CAD trading pair had a total of 21 price pump signals and 47 price dump signals. The average price change was close to zero percent (-0.03%), whereas the maximum and minimum price changes were 4.28% and -8.06%, respectively.  

Overall, BTC/CAD, ETH/CAD, and XRP/CAD trading pairs at Kraken had were more extreme minimum and maximum price changes than respective USD trading pairs at Bitstamp. 

c) Binance { BTC, ETH, XRP } / USDT

Figure 4. Price pump and dump signals, volume spike signals, and RSI (14) signals at Binance for BTC/USDT, ETH/USDT and XRP/USDT between June 1 to June 30, 2019.

Blockchain - Price pump and dump signals, volume spike signals, and RSI (14) signals at Binance for BTC/USD, ETH/USD and XRP/USD between June 1 to June 30, 2019.

APPENDIX A: Figures

a) BTC/USD price pump and dump at Bitstamp between June 1 to 30, 2019.

Blockchain - BTC/USD price pump and dump at Bitstamp between June 1 to 30, 2019.

b) BTC/USD volume spike & drop at Bitstamp between June 1 to 30, 2019.

Blockchain - BTC/USD volume spike and drop at Bitstamp between June 1 to 30, 2019.

c) BTC/USD RSI(14) signal at Bitstamp between June 1 to 30, 2019.

Blockchain - BTC/USD RSI(14) signal at Bitstamp between June 1 to 30, 2019.

APPENDIX B: Methodology

  • Price pump and dump calculations: calculated based on if the price goes above or below the upper and lower Bollinger bands and the price surpasses the rolling highest value over 6 hours.
  • Volume spike and drop calculations: calculated based on if the volume goes above or below exponential moving average of volume over 10 days.
  • RSI overbought and oversold calculations: calculated based RSI(14) indicator, and used 30 and 70 values for overbought and oversold threshold.

APPENDIX C: Alert System Statistics

Summary of alert system statistics between June 1 to 30, 2019.

BITSTAMP BTC/USD ETH/USD XRP/USD
# Price Pump Signal 53 40 51
# Price Dump Signal 48 47 52
Avg. Price Change  (15min)  -0.20 -0.08 -0.20
Max. Price Change (15min) 3.76 1.80 3.24
Min. Price Change  (15min) -4.04 -3.45 -5.92

 

KRAKEN BTC/CAD ETH/CAD XRP/CAD
# Price Pump Signal 19 22 21
# Price Dump Signal 40 46 47
Avg. Price Change  (15min)  -0.13 0.15 -0.025
Max. Price Change (15min) 5.58 5.08 4.28
Min. Price Change  (15min) -9.54 -5.0 -8.06

 

BINANCE BTC/USDT ETH/USDT XRP/USDT
# Price Pump Signal 56 38 56
# Price Dump Signal 45 44 45
Avg. Price Change  (15min)  -0.24 -0.12 -0.20
Max. Price Change (15min) 2.77 1.85 3.18
Min. Price Change  (15min) -4.87 -3.46 -6.29

Disclaimer

The information contained herein is for informational purposes only and is not intended as a research report or investment advice. It should not be construed as Coinscious recommending investment in cryptocurrencies or other products or services, or as a solicitation to buy or sell any security or engage in a particular investment strategy. Investment in the crypto market entails substantial risk. Before acting on any information, you should consider whether it is suitable for your particular circumstances and consult all available material, and, if necessary, seek professional advice.

Coinscious and its partners, directors, shareholders and employees may have a position in entities referred to herein or may make purchases and/or sales from time to time, or they may act, or may have acted in the past, as an advisor to certain companies mentioned herein and may receive, or may have received, a remuneration for their services from those companies.

Neither Coinscious or its partners, directors, shareholders or employees shall be liable for any damage, expense or other loss that you may incur out of reliance on any information contained in this report. Chainlink

TERMINAL

Coinscious Terminal: real-time analytics on the top 100 coins/tokens, 18 mainstream crypto exchanges, and top technical trading indicators.

SIGN-UP FREE: MARKET DATA API  |  ALERT API

June 2019 Cryptocurency Indicator Strategy Report

June 2019 Indicator Strategy Analysis

By | Coinscious Lab, Data Analytics, Indicator Report | No Comments

Overview

We applied seven different types of indicator strategies that are commonly used to analyze cryptocurrency market charts. Among the seven indicator types, we experimented over various parameters as shown below.

INDICATOR  PARAMETER TYPE PARAMETER VARIATIONS
Moving Average Crossover (SMA) Short and Long term EMA period1 (1,10), (1,20), (5,10), (5,20)
Exponential Moving Average Crossover (EMA) Short and Long term EMA period (1,10), (1,20), (5,10), (5,20)
Moving Average Convergence Divergence (MACD) Short and Long term EMA period2 (5,10), (7,14), (12,26)
Relative Strength Index (RSI[14]) Oversell & overbought levels3 (30,70), (20,80), (10,90)
Rate of Change (ROC) Oversell & overbought levels4 (25,4)
Bollinger Bands (BB)
William Fractals (Fractals)

We traded BTC/USDT at cryptocurrency exchange, Binance, using the indicator strategies above from June 1, 2019 to July 7, 2019.  For SMA, EMA, MACD and RSI, we used crossover signals for open and close rules. For ROC, the open and close rules are 25 and 4, respectively. Meanwhile, for BB, the open and close rules are when the price crosses the upper band and when the price crosses the moving average (MA), respectively. The details of all indicator strategy rules can be found on our Coinscious Terminal.

Indicator Strategy Performance On Daily BTC/USDT Market

Figure 1 shows the daily mean return versus daily volatility plot over the indicators. We observe that MACD (5,10) produces the largest mean daily return while having relatively lower daily volatility. On the other hand, MACD (12,26) offers the worst return. This illustrates that the performance of MACD can vary based on the short and long MA parameters. 

Figure 1. Plot of mean daily return against historical daily volatility for individual BTC/USDT indicators from June 1, 2019 to July 7, 2019. Higher returns at a given level of risk, measured through historical daily volatility, indicates a better investment.

Cryptocurrency Indicator - Mean daily returns vs historical daily volatility BTCUSDT indicator (Daily)

SMA (5,10) is the second best performing indicator with 0.75% returns. Together, SMA (5,10), EMA (1,10), and SMA (1,10) form a cluster around daily returns between 0.6~0.8% daily volatility of 4.0%. Finally, EMA (5,10), SMA (5,20), SMA (1,20), and ROC form another cluster near daily return of 0.0% and daily volatility of 0.0%. The cumulative return plot in figure 2 shows that these indicator strategy did not trade at all; these indicators did not trigger any open signals.

Figure 2. Plot of the total cumulative return of BTC/USDT indicators from June 1, 2019 to July 7, 2019 using daily ticks.

Cryptocurrency Indicator - Total Cumulative Return (Daily)

From figure 2, we also observe that MACD (5,10), the top performing indicator, produces a cumulative return of 48%. The second and third highest cumulative returns are EMA (5,10) and SMA (5,10) with 32% and 28% total returns, respectively.  Note that, even though SMA (5,10) had a higher mean daily return than EMA (5,10), EMA (5,10) outperforms SMA (5,10) in terms of total return. Similarly, MACD (7,14) has a higher mean daily return but lower cumulative return compared to both EMA (5,10) and SMA (5,10).

Indicator Strategy Performance On 4-Hour BTC/USDT Market

We conduct the same experiment again, this time on 4-hour BTC/USDT price data. We observe that the highest mean daily return was still MACD indicator. Figure 3 reveals that all three MACD indicators performed well:   MACD (12,26), MACD (7,14) and MACD (5,10) offered daily returns of 0.12%, 0.10% and 0.10%, respectively. Also, all SMA indicators, except SMA (1,20), provided daily returns of 0.11%. 

Figure 3. Plot of mean daily return against historical daily volatility for individual BTC/USDT indicators from June 1, 2019 to July 7, 2019 using 4-hour tick data.

Cryptocurrency Indicator - Mean daily returns vs historical daily volatility BTCUSDT indicator (4-Hr)

When we compare BTC/USDT trading in daily versus 4-hour tick, we consistently see that best SMA indicators outperform the best EMA indicators. 

When we look at RSI indicators, RSI (20,80) gives positive 0.02% mean daily returns while RSI (30,70) gives negative 0.02% mean daily returns. Note, we did not trade using any RSI signals on the daily tick data. We traded using RSI signals on the 4-hour tick data.

Both BB and Fractals give moderate returns with less volatility than other MA-based indicators in both daily and 4-hour tick trading.

When we look at the cumulative return plot for 4-hour tick data, we see that trading immediately starts on June 1, 2019 (figure 4), whereas trading only begins from June 11, 2019 using daily tick data. Nevertheless, the best total return we get from the 4-hour trading chart is 37% with MACD (12,26), which is lower than the best return from daily trading chart in Figure 2.  

Figure 4. Plot of the total cumulative return of BTC/USDT indicators from June 1, 2019 to July 7, 2019 using 4-hour ticks.

Cryptocurrency Indicator - Total Cumulative Return (4-Hr)

Indicator Strategy Performance On 30-Minute BTC/USDT Market

Finally, we conduct the same experiment once more, this time on 30-minute BTC/USDT price data. Overall, the performance results are negative. All indicator strategies, except SMA (1,10), produce negative daily returns (Figure 5) as well as negative cumulative returns (Figure 6). Surprisingly, SMA (1,10) is the only indicator with positive returns: 0.6% mean daily return and 4.0% total return. 

Figure 5. Plot of mean daily return against historical daily volatility for individual BTC/USDT indicators from June 1, 2019 to July 7, 2019 using 30-minute tick data.

Cryptocurrency Indicator - Mean daily returns vs historical daily volatility BTCUSDT indicator (30-min)

Figure 6. Plot of the total cumulative return of BTC/USDT indicators from June 1, 2019 to July 7, 2019 using 30-minute ticks. 

Cryptocurrency Indicator - Total Cumulative Return (30-min)

Summary

  • Under the assumption that we did not know Bitcoin price would increase in June, both MACD and SMA indicators provide positive signals and we are able to make cumulative returns of 48%.
  • Overall, SMA indicators outperformed EMA indicators in both daily trading and 4-hour trading.
  • Trading based on 30-minute or less with listed indicator signals results in the worst performance – negative daily and cumulative returns.

Disclaimer

The information contained herein is for informational purposes only and is not intended as a research report or investment advice. It should not be construed as Coinscious recommending investment in cryptocurrencies or other products or services, or as a solicitation to buy or sell any security or engage in a particular investment strategy. Investment in the crypto market entails substantial risk. Before acting on any information, you should consider whether it is suitable for your particular circumstances and consult all available material, and, if necessary, seek professional advice.

Coinscious and its partners, directors, shareholders and employees may have a position in entities referred to herein or may make purchases and/or sales from time to time, or they may act, or may have acted in the past, as an advisor to certain companies mentioned herein and may receive, or may have received, a remuneration for their services from those companies.

Neither Coinscious or its partners, directors, shareholders or employees shall be liable for any damage, expense or other loss that you may incur out of reliance on any information contained in this report. Chainlink

TERMINAL

  • Coinscious Terminal: real-time analytics on the top 100 coins/tokens, 18 mainstream crypto exchanges, and top technical trading indicators.

SIGN-UP FREE: MARKET DATA API  |  ALERT API

Crypto Market Report - June 24, 2019

Bitcoin Surpasses $11K While HyperCash Soars With 211% Returns

By | Coinscious Lab, Data Analytics, Market Report | No Comments
Crypto Market Report - HyperCash Tezos

Overview

Released bi-weekly, this report aims to identify broad trends in the cryptocurrency market. In order to reflect the latest developments in this fast-paced and volatile market, the reports plan to focus on metrics derived from a 30-day rolling window of data, this time from May 25, 2019 to June 23, 2019.

Our universe of analysis includes 50 of some of the most widely used and traded cryptocurrencies. Please see Appendix A for the complete list.

Analysis

The performance of major cryptocurrencies over the past month was good, with 39 out of the 50 cryptocurrencies that we examined up from their values 30 days ago. Bitcoin (BTC), the largest cryptocurrency by market capitalization, is currently trading around $11000 at the time of writing, having just surpassed $10000 late last week.

Outside of cryptocurrencies, the S&P 500 is up 4.40% from 30 days ago and closed last Friday at $2950.46.

Figure 1 presents the risk versus return trade-off over the past 30 days by plotting mean daily return versus historical daily volatility for various cryptocurrencies.

Figure 1. Plot of mean daily return against historical daily volatility for individual cryptocurrencies from May 25, 2019 to June 23, 2019. Higher returns at a given level of risk, measured through historical daily volatility, indicates a better investment.

Cryptocurrency Risk Return HyperCash Bitcoin

The best performer overall over the past month was HyperCash (HC), with a total return of 211.43%. With its high daily returns and low volatility, HyperCash also has the highest Sharpe ratio of all cryptocurrencies analyzed. HyperCash belongs to an emerging class of cryptocurrencies called sidechains, which facilitate the transfer of digital assets between other blockchains.

The second and third best performing cryptocurrencies were Monacoin (MONA) and Bitcoin SV (BSV), with total returns of 158.17% and 153.07% respectively.

Tezos (XTZ) was the worst performing cryptocurrency, with total losses of 20.44%. Tezos is a self-amending proof-of-work dApp platform with built in mechanisms designed to remove the need to hard fork when implementing protocol amendments.

The second and third worst performing cryptocurrencies were Waves (WAVES) and Nano (NANO) with total losses of 10.13%  and 8.58% respectively.

Figure 2a. Mean daily returns, historical daily volatility, total returns, and ex-post Sharpe ratio for each of the five cryptocurrencies with the highest total returns from May 25, 2019 to June 23, 2019. More positive Sharpe ratios are more desirable. The Sharpe ratio is calculated with the 10 year US Treasury bill rate as the annual risk-free rate.

Crypto Report - HyperCasH HC, MONA, BSV, GXC, BTM

Figure 2b. Mean daily returns, historical daily volatility, total returns, and ex-post Sharpe ratio for each of the five cryptocurrencies with the lowest total returns from May 25, 2019 to June 23, 2019 More positive Sharpe ratios are more desirable. The Sharpe ratio is calculated with the 10 year US Treasury bill rate as the annual risk-free rate

Crypto Report - XTZ, WAVES, NANO, ICX, REP

Figure 3 plots daily candlesticks of the prices of Bitcoin (BTC), Ether (ETH) and XRP (XRP), the three largest cryptocurrencies by market capitalization. In addition, the following commonly used technical analysis indicators are shown:

  • Simple moving averages (SMA) with periods of 50, 100, and 200 days
  • Relative strength index (RSI) with a period of 14 days
  • Moving average convergence divergence (MACD) with a fast EMA period of 12 days, slow EMA period of 26 days, and a signal period of 9 days

The 50-day simple moving averages for Bitcoin, Ether, and XRP continue to stay above the 100-day moving averages, a continuation of a long-term bullish signal.

The RSI values of Bitcoin crossed and is currently above the 70 overbought threshold. Ether’s RSI also briefly crossed above the 70 overbought threshold before dipping below again. XRP’s RSI stayed between 30 and 70, neither overbought or oversold, for the entire past 30 days.

For all top three cryptocurrencies, the MACD line crossed above MACD signal line between one to two weeks ago. This is known as a bullish crossover and can also be interpreted as a bullish signal.

Figure 3a. Price of Bitcoin (BTC) in USD at Bitstamp from May 25, 2019 to June 23, 2019.

Price of Bitcoin (BTC) in USD at Bitstamp from May 25, 2019 to June 23, 2019.

Figure 3b. Price of Ether (ETH) in USD at Bitstamp from May 25, 2019 to June 23, 2019.

Figure 3b. Price of Ether (ETH) in USD at Bitstamp from May 25, 2019 to June 23, 2019.

Figure 3c. Price of XRP (XRP) at Bitstamp in USD from May 25, 2019 to June 23, 2019.

Figure 3c. Price of XRP (XRP) at Bitstamp in USD from May 25, 2019 to June 23, 2019.

APPENDIX A: Cryptocurrencies

Below is a complete list of all cryptocurrencies examined in this market report. In addition, we present the mean daily returns, historical daily volatility, total returns, and ex-post Sharpe ratio for each cryptocurrency from May 25, 2019 to June 23, 2019. More positive Sharpe ratios are more desirable. The Sharpe ratio is calculated with the 10 year US Treasury bill rate as the annual risk-free rate.

Cryptocurrencies
Cryptocurrencies
Cryptocurrencies

APPENDIX B: Methodology

The daily price data of cryptocurrencies in USD at 4:00 PM EST from May 25, 2019 to June 23, 2019 was used for our calculations.

The prices are the volume weighted average price of the cryptocurrency in USD at 4:00 PM EST each day across all exchanges where Coinscious has data. The only exception is Siacoin (SC), where we used the Yahoo Finance price instead due to data quality issues at the time of writing.

Daily closing price data of the S&P 500 index was obtained from Yahoo Finance. The latest 10 year US Treasury bill rate from YCharts was used for calculations involving a risk-free rate.

In subsequent reports, we may update our universe, sectors, methodology, and analysis to reflect new developments.

APPENDIX C: Terminology

  • Volatility: A measure of the dispersion in the trading price of an instrument over a certain period of time, defined as the standard deviation of an instrument’s returns.
  • Sharpe ratio: A risk adjusted measure of return that describes the reward per unit of risk. The reward is the average excess returns of an investment against a benchmark or risk-free rate of return, and the risk is the standard deviation of the excess returns. A higher Sharpe ratio is better. Ex-ante Sharpe ratio is calculated with expected returns whereas ex-post Sharpe ratio is calculated with realized historical returns.

Disclaimer

The information contained herein is for informational purposes only and is not intended as a research report or investment advice. It should not be construed as Coinscious recommending investment in cryptocurrencies or other products or services, or as a solicitation to buy or sell any security or engage in a particular investment strategy. Investment in the crypto market entails substantial risk. Before acting on any information, you should consider whether it is suitable for your particular circumstances and consult all available material, and, if necessary, seek professional advice.

Coinscious and its partners, directors, shareholders and employees may have a position in entities referred to herein or may make purchases and/or sales from time to time, or they may act, or may have acted in the past, as an advisor to certain companies mentioned herein and may receive, or may have received, a remuneration for their services from those companies.

Neither Coinscious or its partners, directors, shareholders or employees shall be liable for any damage, expense or other loss that you may incur out of reliance on any information contained in this report. Bitcoin price.

Crypto Market Report - Bitcoin SV Stays On Top

Bitcoin SV Stays On Top – Total Return of 232% In Past Month

By | Coinscious Lab, Data Analytics, Market Report | No Comments
Crypto Market Report - Bitcoin SV Stays On Top

Overview Bitcoin SV

Released bi-weekly, this report aims to identify broad trends in the cryptocurrency market. In order to reflect the latest developments in this fast-paced and volatile market, the reports plan to focus on metrics derived from a 30-day rolling window of data, this time from May 11, 2019 to June 9, 2019.

Our universe of analysis includes 50 of some of the most widely used and traded cryptocurrencies. Please see Appendix A for the complete list.

Analysis

The performance of major cryptocurrencies over the past month was good, with 44 out of the 50 cryptocurrencies that we examined up from their values 30 days ago. Bitcoin (BTC), the largest cryptocurrency by market capitalization, is currently trading slightly about $7900 at the time of writing. Bitcoin SV

Outside of cryptocurrencies, the S&P 500 is down 0.28% from 30 days ago and closed last Friday at $2873.34.

Figure 1 presents the risk versus return trade-off over the past 30 days by plotting mean daily return versus historical daily volatility for various cryptocurrencies.

Figure 1. Plot of mean daily return against historical daily volatility for individual cryptocurrencies from May 11, 2019 to June 9, 2019. Higher returns at a given level of risk, measured through historical daily volatility, indicates a better investment.

Crypto Market Risk vs. Return - Bitcoin SV Stays On Top

The best performer overall over the past month was Bitcoin SV (BSV), with a total return of 232.00%. Bitcoin SV was created last November after a hard fork to Bitcoin Cash. It aims to restore the original Bitcoin protocol, closely following the concept as described in Satoshi Nakamoto’s white paper.

The second and third best performing cryptocurrencies were Monacoin (MONA) and Chainlink (LINK), with total returns of 160.57% and 67.83% respectively.

Basic Attention Token (BAT) was the worst performing cryptocurrency, with total losses of 7.66%. Basic Attention Token is a digital advertising token used to connect advertisers, content publishers, and content users. It is intended to monetize and reward user attention while also providing advertisers with better ROI.

The second and third worst performing cryptocurrencies were Reputation (REP) and Bytecoin (BCN) with total losses of 5.89%  and 1.28% respectively.

Figure 2a. Mean daily returns, historical daily volatility, total returns, and ex-post Sharpe ratio for each of the five cryptocurrencies with the highest total returns from May 11, 2019 to June 9, 2019. More positive Sharpe ratios are more desirable. The Sharpe ratio is calculated with the 10 year US Treasury bill rate as the annual risk-free rate.

Cryptocurrency Positive Return - Bitcoin SV

Figure 2b. Mean daily returns, historical daily volatility, total returns, and ex-post Sharpe ratio for each of the five cryptocurrencies with the lowest total returns from May 11, 2019 to June 9, 2019 More positive Sharpe ratios are more desirable. The Sharpe ratio is calculated with the 10 year US Treasury bill rate as the annual risk-free rate

Cryptocurrency Negative Return - 2019-06-10

Figure 3 plots daily candlesticks of the prices of BTC and ETH, the two largest cryptocurrencies by market capitalization. We also show BSV the top performer this past month. In addition, the following commonly used technical analysis indicators are shown:

– Simple moving averages (SMA) with periods of 50, 100, and 200 days
– Relative strength index (RSI) with a period of 14 days
– Moving average convergence divergence (MACD) with a fast EMA period of 12 days, slow EMA period of 26 days, and a signal period of 9 days

The 50-day simple moving averages for Bitcoin and Ethereum continue to stay above the 100-day moving averages, a continuation of a long-term bullish signal. In addition, the 50-day simple moving average for Bitcoin SV just crossed above the 100-day moving average in May. This is the start of a long-term bullish signal.

The RSI values of three cryptocurrencies crossed below the 70 overbought threshold from above at various times over the past month; a bearish signal that indicates that upwards momentum has ended. The RSI values are now in between 30 and 70, indicating that they are neither overbought or oversold.

For Bitcoin and Ethereum, the MACD line crossed below MACD signal line around the end of May, and in the case of Bitcoin SV, this just happened on June 8. This is known as a bearish crossover and can also be interpreted as a bearish signal.

Figure 3a. Price of Bitcoin (BTC) in USD at Bitstamp from May 11, 2019 to June 9, 2019.

Price of BTC at Bitstamp - 2019-06-10

Figure 3b. Price of Ether (ETH) in USD at Bitstamp from May 11, 2019 to June 9, 2019.

Price of ETH at Bitstamp - 2019-06-10

Figure 3c. Price of Bitcoin SV (BSV) at Binance in USD from May 11, 2019 to June 9, 2019. BSV

Price of Bitcoin SV at Binance - 2019-06-10

APPENDIX A: Cryptocurrencies

Below is a complete list of all cryptocurrencies examined in this market report. In addition, we present the mean daily returns, historical daily volatility, total returns, and ex-post Sharpe ratio for each cryptocurrency from May 11, 2019 to June 9, 2019. More positive Sharpe ratios are more desirable. The Sharpe ratio is calculated with the 10 year US Treasury bill rate as the annual risk-free rate.

Cryptocurrency List - Bitcoin SV
Cryptocurrency List - 2019-06-10
Cryptocurrency List - 2019-06-10

APPENDIX B: Methodology

The daily price data of cryptocurrencies in USD at 4:00 PM EST from May 11, 2019 to June 9, 2019 was used for our calculations.

The prices are the volume weighted average price of the cryptocurrency in USD at 4:00 PM EST each day across all exchanges where Coinscious has data. The only exception is Siacoin (SC), where we used the Yahoo Finance price instead due to data quality issues at the time of writing.

Daily closing price data of the S&P 500 index was obtained from Yahoo Finance. The latest 10 year US Treasury bill rate from YCharts was used for calculations involving a risk-free rate.In subsequent reports, we may update our universe, sectors, methodology, and analysis to reflect new developments.

APPENDIX C: Terminology

  • Volatility: A measure of the dispersion in the trading price of an instrument over a certain period of time, defined as the standard deviation of an instrument’s returns.
  • Sharpe ratio: A risk adjusted measure of return that describes the reward per unit of risk. The reward is the average excess returns of an investment against a benchmark or risk-free rate of return, and the risk is the standard deviation of the excess returns. A higher Sharpe ratio is better. Ex-ante Sharpe ratio is calculated with expected returns whereas ex-post Sharpe ratio is calculated with realized historical returns.

Disclaimer

The information contained herein is for informational purposes only and is not intended as a research report or investment advice. It should not be construed as Coinscious recommending investment in cryptocurrencies or other products or services, or as a solicitation to buy or sell any security or engage in a particular investment strategy. Investment in the crypto market entails substantial risk. Before acting on any information, you should consider whether it is suitable for your particular circumstances and consult all available material, and, if necessary, seek professional advice.

Coinscious and its partners, directors, shareholders and employees may have a position in entities referred to herein or may make purchases and/or sales from time to time, or they may act, or may have acted in the past, as an advisor to certain companies mentioned herein and may receive, or may have received, a remuneration for their services from those companies.

Neither Coinscious or its partners, directors, shareholders or employees shall be liable for any damage, expense or other loss that you may incur out of reliance on any information contained in this report. Bitcoin price.

New 2019 High For BTC, But LINK Is the Bigger Winner

By | Coinscious Lab, Data Analytics, Market Report | No Comments

Overview

Released bi-weekly, this report aims to identify broad trends in the cryptocurrency market. In order to reflect the latest developments in this fast-paced and volatile market, the reports plan to focus on metrics derived from a 30-day rolling window of data, this time from April 27, 2019 to May 26, 2019. LINK

Our universe of analysis includes 50 of some of the most widely used and traded cryptocurrencies. Please see Appendix A for the complete list. LINK

Analysis

The performance of major cryptocurrencies over the past month was good, with only 44 out of the 50 cryptocurrencies that we examined up from their values 30 days ago. Bitcoin (BTC), the largest cryptocurrency by market capitalization, is on the rise and is currently trading slightly above $8700 at the time of writing.

Outside of cryptocurrencies, the S&P 500 is down 3.97% from 30 days ago and closed last Friday at $2826.06.

Figure 1 presents the risk versus return trade-off over the past 30 days by plotting mean daily return versus historical daily volatility for various cryptocurrencies.

Figure 1. Plot of mean daily return against historical daily volatility for individual cryptocurrencies from April 27, 2019 to May 26, 2019. Higher returns at a given level of risk, measured through historical daily volatility, indicates a better investment.

LINK - Cryptocurrency Risk Return

The best performer overall over the past month was Chainlink (LINK), with a total return of 158.14%. Chainlink aims to be a reliable decentralized data oracle that provides data inputs for smart contracts.

The second and third best performing cryptocurrencies were Bitcoin SV (BSV) and Ether (ETH), with total returns of 73.03% and 59.78% respectively.

Reputation (REP) was the worst performing cryptocurrency, with total losses of 8.69%. Augur is a decentralized oracle and peer-to-peer protocol for prediction markets. Reputation is the cryptocurrency used by reporters during market dispute phases of Augur.

The second and third worst performing cryptocurrencies were Basic Attention Token (BAT) and USD Coin (USDC) with total losses of 7.29% and 4.40% respectively.

Figure 2a. Mean daily returns, historical daily volatility, total returns, and ex-post Sharpe ratio for each of the five cryptocurrencies with the highest total returns from April 27, 2019 to May 26, 2019. More positive Sharpe ratios are more desirable. The Sharpe ratio is calculated with the 10 year US Treasury bill rate as the annual risk-free rate. LINK

Figure 2b. Mean daily returns, historical daily volatility, total returns, and ex-post Sharpe ratio for each of the five cryptocurrencies with the lowest total returns from April 27, 2019 to May 26, 2019. More positive Sharpe ratios are more desirable. The Sharpe ratio is calculated with the 10 year US Treasury bill rate as the annual risk-free rate

Figure 3 plots daily candlesticks of the prices of Bitcoin ( BTC ) and Ether ( ETH ), the two largest cryptocurrencies by market capitalization. We also present the daily candlesticks of the price of Chainlink ( LINK ), the best performer of the past month. In addition, the following commonly used technical analysis indicators are shown:

  • Simple moving averages (SMA) with periods of 50, 100, and 200 days
  • Relative strength index (RSI) with a period of 14 days
  • Moving average convergence divergence (MACD) with a fast EMA period of 12 days, slow EMA period of 26 days, and a signal period of 9 days

The indicators for all three cryptocurrencies share many common features.

First, the 50-day simple moving average continues to stay above the 100-day moving average, a continuation of a long-term bullish signal.

The RSI values of all three cryptocurrencies crossed below the 70 overbought threshold from above; a bearish signal that potentially indicates the end of upwards momentum.

Furthermore, for all three cryptocurrencies, the MACD line is about to cross, or has just crossed below MACD signal line approximately a week ago. This is known as a bearish crossover and can also be interpreted as a bearish signal.

Figure 3a. Price of Bitcoin (BTC) in USD at Bitstamp from April 27, 2019 to May 26, 2019.

Figure 3b. Price of Ether (ETH) in USD at Bitstamp from April 27, 2019 to May 26, 2019.

Figure 3c. Price of ChainLink ( LINK ) in USDT at Binance from April 27, 2019 to May 26, 2019. LINK

Binance LINK USDT

APPENDIX A: Cryptocurrencies

Below is a complete list of all cryptocurrencies examined in this market report. In addition, we present the mean daily returns, historical daily volatility, total returns, and ex-post Sharpe ratio for each cryptocurrency from April 27, 2019 to May 26, 2019. More positive Sharpe ratios are more desirable. The Sharpe ratio is calculated with the 10 year US Treasury bill rate as the annual risk-free rate.

APPENDIX B: Methodology

The daily price data of cryptocurrencies in USD at 4:00 PM EST from April 27, 2019 to May 26, 2019 was used for our calculations.

The prices are the volume weighted average price of the cryptocurrency in USD at 4:00 PM EST each day across all exchanges where Coinscious has data. The only exception is Siacoin (SC), where we used the Yahoo Finance price instead due to data quality issues at the time of writing.

Daily closing price data of the S&P 500 index was obtained from Yahoo Finance. The latest 10 year US Treasury bill rate from YCharts was used for calculations involving a risk-free rate.

In subsequent reports, we may update our universe, sectors, methodology, and analysis to reflect new developments.

APPENDIX C: Terminology

  • Volatility: A measure of the dispersion in the trading price of an instrument over a certain period of time, defined as the standard deviation of an instrument’s returns.
  • Sharpe ratio: A risk adjusted measure of return that describes the reward per unit of risk. The reward is the average excess returns of an investment against a benchmark or risk-free rate of return, and the risk is the standard deviation of the excess returns. A higher Sharpe ratio is better. Ex-ante Sharpe ratio is calculated with expected returns whereas ex-post Sharpe ratio is calculated with realized historical returns.

Disclaimer

The information contained herein is for informational purposes only and is not intended as a research report or investment advice. It should not be construed as Coinscious recommending investment in cryptocurrencies or other products or services, or as a solicitation to buy or sell any security or engage in a particular investment strategy. Investment in the crypto market entails substantial risk. Before acting on any information, you should consider whether it is suitable for your particular circumstances and consult all available material, and, if necessary, seek professional advice.

Coinscious and its partners, directors, shareholders and employees may have a position in entities referred to herein or may make purchases and/or sales from time to time, or they may act, or may have acted in the past, as an advisor to certain companies mentioned herein and may receive, or may have received, a remuneration for their services from those companies.

Neither Coinscious or its partners, directors, shareholders or employees shall be liable for any damage, expense or other loss that you may incur out of reliance on any information contained in this report. Bitcoin price.

Crypto Cheers & Controversies

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⚖ FinCEN Penalizes Its First P2P Currency Exchanger

FRIDAY, APRIL 19, 2019

For the first time, the United States Financial Crimes Enforcement Network (FinCEN) has penalized a peer-to-peer (P2P) cryptocurrency exchanger for breaking anti-money laundering (AML) rules. FinCEN announced that the individual, Eric Powers, operated an unregistered money services business, did not have any written policies and procedures for compliance to the Bank Secrecy Act (BSA), and failed to report and suspicious transactions. 

SOURCE: THEBLOCKCRYPTO


?? Coinnest Shuts Down

FRIDAY, APRIL 19, 2019

Coinnest, South Korea’s third largest cryptocurrency exchange, announced it will be officially closing down. The decision comes as a result of the exchange struggling to cope with changes in the cryptocurrency and blockchain industries. They advised users will need to withdraw any funds on its platform by April 30

A few controversies the exchange experienced dealt with in the past year may be cause for its shut down. This January, the exchange reportedly lost $5 million worth in bitcoin and other digital assets, due to a mistaken airdrop. Last year, a top-level executive from Coinnest were arrested by Korean law enforcement agents and later convicted for fraud. 

SOURCE: COINDESK


? Self-Proclaimed Bitcoin Creator Sues Podcaster for Libel

FRIDAY, APRIL 19, 2019

Craig Wrightthe self-proclaimed creator of bitcoin, has sued podcaster Peter McCormack, of What Bitcoin Did, for libel. Wright accuses McCormack of denying he is Satoshi Nakamoto and is seeking nearly $130,000 in damages.

SOURCE: CCN


? Bakkt Eyes New York Licence For Crypto Custody

THURSDAY, APRIL 18, 2019

Intercontinental Exchange (ICE) –  the owner of the New York Stock Exchange – is reportedly eyeing a New York license for its long-delayed crypto exchange Bakkt. The launch of Bakkt has been delayed by over five months due to scepticism from the Commodity Futures Trading Commission (CFTC) over concerns of how clients’ tokens, linked to bitcoin futures, will safely be stored.

SOURCE: BLOOMBERG


⛓ Binance Chain Launches

THURSDAY, APRIL 18, 2019

Binance has officially launched its mainnet Binance Chain. The cryptocurrency exchange announced it will activate its native token, BNB, on the new network on April 23, allowing token holders to migrate their balances. In order to maintain a constant supply on both networks, old ethereum-based tokens will be destroyed as new BNB tokens are created on Binance Chain.

SOURCE: COINTELEGRAPH


⚖ Winklevoss Brothers Settle $26M Bitcoin Lawsuit

WEDNESDAY, APRIL 17, 2019

Cameron and Tyler Winklevoss have finally settled their lawsuit with Charlie Shrem, a bitcoin supporter and entrepreneur. Shrem claimed the Winklevoss twins owed him $26 million dollars worth of bitcoin. The U.S. District Court for the Sourthern District of New York announced a settlement has been reached by both parties. Both parties will have the right to reopen the case and proceed the trial within 30 days. 

SOURCE: BITCOINEXCHANGEGUIDE


? Coinbase Expands Crypto-to-Crypto Services to 11 Countries

WEDNESDAY, APRIL 17, 2019

U.S.-based cryptocurrency exchange, Coinbase, introduced its Coinbase Pro trading platform to 11 more countries in Latin America and Southeast Asia including: Argentina, Mexico, Peru, Colombia, Chile, India, Hong Kong, South Korea, Indonesia, the Philippines, and New Zealand.  The company announced that crypto-to-crypto trading is now available to users in 53 countries. 

SOURCE: COINTELEGRAPH


?? Rakuten Opens Crypto Wallet Registration

WEDNESDAY, APRIL 17, 2019

Japanese e-commerce giant, Rakuten, has started accepting account registrations for its upcoming cryptocurrency wallet, Rakuten Wallet. The company announced that users who have an account with Rakuten Bank or who already have a Rakuten member ID can sign-up prior to the official trading launch this June. 

SOURCE: COINGEEK


❌ Kraken Delists Bitcoin SV Following Community Poll

TUESDAY, APRIL 16, 2019

Kraken, the U.S.-based cryptocurrency exchange, set up a Twitter poll yesterday, asking its users whether it should delist bitcoin SV. Voters took to the polls and it was a 71% majority in favour of delisting the asset. Kraken’s decision follows in the footsteps of Binance, who dropped the coin earlier this week due to its founder’s “antiethical behaviour.”

SOURCE: COINTELEGRAPH


? USDT Launches on Tron Network

MONDAY, APRIL 17, 2019

Tether has begun issuing its USD-pegged stablecoin, USDT, on the Tron‘s TRC-20 protocol. The development is an upgrade from the OMNI protocol-based USDT. Existing users of USDT can directly convert their tokens to USDT-Tron by contacting Tether or through exchanges. The network intends to allow zero fee transactions for the new coin.

SOURCE: COINGAPE


❌ Binance Delists Bitcoin SV (BSV)

MONDAY, APRIL 17, 2019

Changpeng Zhao (CZ), the CEO of cryptocurrency exchange, Binance, has announced it is delisting bitcoin SV (BSV) starting April 22. The decision was made due to controversy around BSV’s founder, Craig Wright, who’s proclaimed he is the pseudonymous creator of bitcoin, Satoshi Nakamoto. Wright has been unrelenting on Twitter, attacking users who refute his claim. CZ earlier warned Wright that he would delist the altcoin if he did not change his behaviour; Wright did not heed his threats.  

SOURCE: COINDESK


?  Blockchain Watch: Oh Whale

FRIDAY, APRIL 19, 2019
THURSDAY, APRIL 18, 2019
WEDNESDAY, APRIL 17, 2019
TUESDAY, APRIL 16, 2019
MONDAY, APRIL 16, 2019

SOURCE: TWITTER


Images courtesy of Shutterstock

Ready, Set, Crypto

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⚖ Mt. Gox Close to Settling Creditors’ Accounts

FRIDAY, MARCH 22, 2019

Appointed trustee, Nobuaki Kobayashi, of the now defunct cryptocurrency exchange, Mt. Gox, issued a statement advising that those affected by the crash may see a decision very soon on their reimbursement plan. The expected settlement will be available in cryptocurrency or cash. Kobayashi has approved claims for 802,521 BTC (worth $3,233,256,500), 792,296 BCH ($124,953,000), $38,165,664 in USD and other fiat currencies as stipulated in this document.

SOURCE: CRYPTOVEST


✂  BlockFi Cuts Interest Rates Paid to 2% For Its Large Accounts

FRIDAY, MARCH 22, 2019

A few weeks after launching, BlockFi, the cryptocurrency lending startup, has just changed the terms of their interest-bearing deposit account. The company stated in their official blog post that starting April 1, 2019 any accounts with more than 25 BTC or 500 ETH, they will only pay 2% on the amount deposited instead of the originally advertised 6%. Zac Prince, CEO and founder, advised the change is due an unexpected and overwhelmingly large demand from institution clients to deposit more than one million dollars worth of cryptocurrency. BlockFi raised $25 million in the last two weeks alone.

SOURCE: COINDESK


?Bayer Crop Science Partners With ConsenSys’ BlockApps

FRIDAY, MARCH 22, 2019

Pharmaceutical giant, Bayer, and its German-based agricultural division, Bayer CropScience, have teamed up with startup BlockApps, backed by ConsenSys. The partnership was said to have begun early 2018 and they’ve been working on a number of blockchain initiatives to improve operation and the industry. Bayer CropScience was formerly known as Monsanto, the highly controversial agricultural company, before its acquisition.

SOURCE: COINTELEGRAPH


⚡ Huobi Global & OKEx Supports Tron-based USDT

THURSDAY, MARCH 21, 2019

Major cryptocurrency exchanges, Huobi Global and OKEx, have separately announced that they will be supporting the TRC20-based USDT stablecoin, USDT-TRON,launched by TRON and Tether. The new token will be operable with all Tron-based protocols and decentralized applications, improving liquidity in the ecosystem.

SOURCE: COINTELEGRAPH


? Square Hiring Crypto Engineers

THURSDAY, MARCH 21, 2019

CEO of Twitter and Square, Jack Dorsey, announced Square Crypto is seeking to hire three to four cryptocurrency engineers and one designer to build its upcoming crypto ecosystem. Dorsey has become a strong public proponent of bitcoin and cryptocurrency in the recent months. This initiative brings further optimism to the cryptocurrency community and the blockchain industry.

SOURCE: CCN


⛔ CBOE Discontinues Bitcoin Futures

WEDNESDAY, MARCH 20, 2019

The Chicago Board Options Exchange (CBOE), the first exchange to list bitcoin futures, has decided to stop listing the very same product. CBOE stated that it has not fully closed the door on cryptocurrency, but does not intend to list additional bitcoin futures for trading at the moment due to decreased demand.

SOURCE: FORBES


? Coinmarketcap Launches Crypto Indices on Nasdaq, Bloomberg and More

WEDNESDAY, MARCH 20, 2019

CoinMarketCap, announced it will launching two cryptocurrency benchmark indices on Nasdaq Global Index Data Service (GIDS), Bloomberg Terminal, Thomson Reuters Eikon (Refinitiv), Germany’s Börse Stuttgart, and its own platform. The indices cover the top 200 by market capitalization. The first index, CMC Crypto 200 Index (CMC200), includes bitcoin and covers more than 90% of the cryptocurrency market. The second index, CMC Crypto 200 ex BTC Index (CMC200EX) does not include bitcoin, in order to track market performance without its influence. 

SOURCE: COINDESK


⚡ Huobi Launches Token Sale Platform

WEDNESDAY, MARCH 20, 2019

Singapore cryptocurrency exchange, Huobi Global, announced on its blog that Huobi Prime, a dedicated token sale platform. The new platform is geared towards both large and small investors and allows individuals access to new altcoin tokens before they appear on major exchanges. The first project to launch is TOP and will take place on March 26, 2019

SOURCE: COINTELEGRAPH


? Cryptopia’s Trading Service Resumes After Hack

WEDNESDAY, MARCH 20, 2019

New Zealand cryptocurrency exchange, Cryptopia, announced it is resuming its trading service after its hack mid-January. An estimated of 9.4% of the exchange’s total holdings were stolen. Currently, 40 trade pairs have been evaluated as secure and this list will continue to grow as Cryptopia clears more coins. See the full list: here

SOURCE: COINDESK


?? Purchase Bitcoin Down Under With Binance Lite

TUESDAY, MARCH 19, 2019

Cryptocurrency exchange, Binance, has expanded its Binance Lite fiat gateway to Australia. 1,300 newsagent stores will be ready and allow customers to buy cryptocurrency with regular fiat money. In order to use this service, customers will need to pass account verification, including Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures.

SOURCE: THENEXTWEB


?? Switzerland’s Largest Online Retailer Accepts Bitcoin

TUESDAY, MARCH 19, 2019

Digitec-Galaxus, Switzerland’s “Amazon”, is now accepting bitcoin (BTC) and other cryptocurrencies as payment. Co-founder & Chief Innovation Officer, Oliver Herren, says the company’s move to accept this form of payment method is to target a more tech-savvy audience and position itself as a forward-thinking company. The large online retailer has partnered with Coinify to process all cryptocurrency transactions. 

SOURCE: BITCOINIST


? Fortune 500 Company Accepts Crypto Payments

TUESDAY, MARCH 19, 2019

Fortune 500 company Avnet, one of the largest electronic components distributors worldwide, announced it will now accept bitcoin (BTC) or bitcoin (BCH) as payments for its products and services. Avnet partnered with payment platform, BitPay, who will aid with verifying funds, processing orders, and completing transactions.

SOURCE: ETHNEW


? IBM Signs 6 Banks Ready To Issue Stablecoin

MONDAY, MARCH 18, 2019

IBM officially launches its real-time global payments network, Blockchain World Wire (BWW), in collaboration with Stellar (XLM) is now live. IBM and Stellar announced that six international banks have signed up to issue their own stablecoins on the blockchain-powered payments network. BWW currently supports more than 47 currencies for payments across 72 countries.

SOURCE: COINTELEGRAPH


✋ Bitcoin Futures On the Bakkt Burner

MONDAY, MARCH 18, 2019

The highly anticipated bitcoin futures market, Bakkt, by Intercontinental Exchange (ICE) has yet to receive regulatory approval from the Commodity Futures Trading Commission (CFTC). ICE originally intended to launch the platform in mid-December, but has since delayed the project indefinitely.

SOURCE: COINDESK


? Blockchain Watch: Whale Hello There

WEDNESDAY, MARCH 20, 2019
TUESDAY, MARCH 19, 2019
MONDAY, MARCH 18, 2019

SOURCE: TWITTER


Images courtesy of Shutterstock

Crypto Launches & Previews

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? Bittrex Cancels Its First Initial Exchange Offering

FRIDAY, MARCH 15, 2019

Crypto trading platform, Bittrex International, has cancelled its first public Initial Exchange Offering (IEO) for RAID tokens intended to take place today.  The decision came after Bittrex learned startup RAID ended its vital partnership with e-gaming data analytics company, OP.GG. In a swift move to protect its users, the IEO to raise $6 million dollars was cancelled hours before its launch. It still remains unclear the true relationship between RAID and OP.GG as statements from both parties conflict one another. 

SOURCES: CCN, BITTREX


⚖ Mt. Gox CEO Receives Suspended Jail Term

FRIDAY, MARCH 15, 2019

The Tokyo District Court found Mark Karpeles, the former CEO of the now dissolved cryptocurrency exchange, Mt. Gox, guilty of tampering financial records, but innocent of embezzlement and breach of trust. Karpeles was given a suspended sentence of two and a half years, and will not have to serve jail time provided he does not commit another violation within 4 years. 

SOURCE: BLOOMBERG


? SEC Not Likely to Approve Bitcoin ETF Any Time Soon

FRIDAY, MARCH 15, 2019

During CoinDesk’s Consensus: Invest event yesterday, Jay Clayton, the chairman of the United States Securities and Exchange Commission (SEC) highlighted key stances U.S. regulators currently have on the cryptocurrency space. Major takeaways from Clayton’s panel discussion include:

  1. bitcoin exchange traded funds (ETF) not likely to be approved soon
  2. regulated exchanges are needed to prevent price manipulation
  3. crypto trading requires anti-money laundering protections
  4. ICO-funded startups should go see the SEC, and
  5. courts may see ICO’s differently than regulators.

SOURCE: COINDESK


? USDT Not Entirely Backed By Fiat

THURSDAY, MARCH 14, 2019

Tether has quietly updated their website terms stating that the dollar-peggedstablecoin, USDT, is backed 100% by “reserves”, not only fiat. These reserves collectively consist of traditional currency, cash equivalents, and other assets and receivables from loans made by Tether to third parties. 

SOURCE: COINDESK


? Nasdaq Licences Framework to Cryptocurrency Ecosystem Developer

THURSDAY, MARCH 14, 2019

Nasdaq, has licensed its Nasdaq Financial Framework to Bcause, a cryptocurrency trading platform. Bcause will leverage Nasdaq’s technology for its spot trading activities such as clearing and “market surveillance.” Bcause’s spot market is set to launch during H1 2019.

SOURCE: BITCOIN.COM


? Thai Stock Exchange To Launch Digital Asset Platform in 2020

THURSDAY, MARCH 14, 2019

The Stock Exchange of Thailand (SET) confirmed it is building a digital assets platform that is set to launch in 2020. President of SET, Pakorn Peetathawatchai, advised the platform is part of their 3-year strategic plan between 2019-2021, focusing on developing infrastructure and a “one stop” digital capital market. 

SOURCE: COINTELEGRAPH


? Coinbase Pro Lists Stellar Lumens

THURSDAY, MARCH 14, 2019

Coinbase Pro has added support for Stellar Lumens (XLM), the eight largest cryptocurrency by market capitalization. XLM trading will go through three stages – “transfer-only,” “post-only,” and “limit-only.” – before the fourth “full trading” stage commences. More details can be found on their official blog post

SOURCE: COINTELEGRAPH


➡️ Coinbase Completes First OTC Trade From Cold Storage

WEDNESDAY, MARCH 13, 2019

Coinbase Custody has successfully conducted its first over-the-counter trade (OTC) directly from cold storage. On their blog, the cryptocurrency exchange stated that Custody is now directly integration with the OTC desk at Coinbase Pro and allowed for the completion of the OTC trade. Coinbase’s OTC desk launched quietly last year and its services are offered to accredited investors in the U.S., Asia, and Europe.

SOURCE: BITCOINEXCHANGEGUIDE


⚖ QuadrigaCX’s CEO Used Personal Funds During 2018 Litigations

WEDNESDAY, MARCH 13, 2019

Gerald Cotten’s widow, Jennifer Robertson, revealed that the CEO of the Canadian crypto exchange, QuadrigaCX, had put personal funds into the exchange during its legal battle with the Canadian Imperial Bank of Commerce (CIBC) in 2018. The major bank froze five accounts holding a total of $21.6 million and as such Cotten needed a way to fund customer withdrawals. 

SOURCE: COINDESK


? Binance’s Trust Wallet Now Supports XRP & Credit Card Payments

TUESDAY, MARCH 12, 2019

Trust Wallet, the official wallet of cryptocurrency exchange, Binance, now supports Ripple’s XRP token and credit card purchases. The wallet also currently supports bitcoin (BTC), ethereum (ETH), litecoin (LTC), bitcoin cash (BTC) as well as ethereum-based tokens such as ERC20, ERC223 and ERC 721. Users can now buy crypto directly with their credit cards, with payment being processed by Simplex. More details to be revealed on which major credit and debit cards will be accepted and if there are any fees associated.

SOURCE: COINTELEGRAPH


? Bittrex To Conduct Its First Initial Exchange Offering

TUESDAY, MARCH 12, 2019

Crypto trading platform, Bittrex International, will be launching its first public Initial Exchange Offering (IEO) through its platform on Friday, March 15. Bittrex users will be able to use bitcoin (BTC) to purchase RAID (XRD) tokens. There will be a hard cap of 17 billion XRD, worth $6 million dollars. RAID is a South Korean startup that is developing a blockchain-powered game data ecosystem. Full details of the IEO can be found here

SOURCES: CHEPICAPBITTREX


? SEC Agrees With Analysis: Ether Is Not A Security

TUESDAY, MARCH 12, 2019

U.S. Security and Exchange Commisison (SEC) chairman, Jay Clayton, confirms staff analysis that ethereum and similar decentralized digital assets are not securities. In a letter to U.S. House representative, Tedd Budd, Clayton did not directly reference any specific cryptocurrencies, but rather stated he agreed with William Hinman, the SEC Director of Division of Corporate Finance, and his securities classification of crypto assets from June 2018.

SOURCE: CCN


?Ledger Reports On Trezor Wallets Vulnerabilities

MONDAY, MARCH 11, 2019

Ledger, the French hardware wallet manufacturer, released a report on the vulnerabilities of wallets from its direct competitor, Trezor. The report investigates the weaknesses of wallets Trezor One and Trezor T and highlights features that them susceptible to cyberattacks. The five vulnerabilities analyzed are: 

  1. Genuineness of the device
  2. Secure PIN protection
  3. Confidentiality of data inside the Trezor One
  4. Confidentiality of data inside the Trezor T
  5. Analysis of the cryptographic stack

SOURCES: COINTELEGRAPHLEDGER


? Kakao’s Blockchain Unit Raises $90M

MONDAY, MARCH 11, 2019

Ground X, the blockchain unit of South Korean messaging giant, Kakao Corp ,raised $90 million dollars through a private coin offering. Ground X has partnered with 26 companies – including game developer Wemade, video-streaming service Watcha, and unit of travel agency Zanadu – to run applications on their platform. The platform is set to launch in June. 

SOURCE: COINDESK


? ‘Facebook Coin’ Could Generate $19B Revenue

MONDAY, MARCH 11, 2019

Barclays’ analyst, Ross Sandler, says the launch of Facebook’s digital currency, Facebook Coin, could add $19 billion dollars in revenue by 2021.  Sandler asserts that this will be a huge opportunity for the company to grow especially with the inclusion of a payment method for its premium content. Facebook currently has 3 million users, but the crypto community remains divided by the social media giant’s potential launch into the crypto space.

SOURCE: NEWSBTC


⚡Blockchain ETF Live on London Stock Exchange

MONDAY, MARCH 11, 2019

Invesco, partnered with London-based investment firm, Elwood Asset Management, to launch a blockchain exchange traded fund (ETF) on the London Stock Exchange. The new product, “Invesco Elwood Global Blockchain UCIT ETF,” targets companies with potential to generate real earnings from blockchain technology. 

SOURCE: COINDESK

Image courtesy of Wealth Management


?Samsung Galaxy S10 Wallet Supports ETH, ERC20 Tokens, dApps, But Not BTC

MONDAY, MARCH 11, 2019

 The Samsung Blockchain Wallet on the upcoming Galaxy S10 phone will not support bitcoin (BTC), despite pre-released images. Currently, the native wallet is only compatible with ethereum (ETH) and other ethereum-based ERC20 tokens. At launch, the wallet will also support 4 decentralized apps: Enjin, Cosmee, CryptoKitties, and CoinDuck

SOURCE: COINDESK


?  SIX May Soon List Ripple (XRP) ETP

MONDAY, MARCH 11, 2019

Swiss stock exchange, SIX, may soon introduce ripple (XRP) exchange-traded product (ETP) following the now live bitcoin ETP and ethereum ETP tickers, ABTC and AETH, respectively. Amun AG, the crypto firm responsible for the existing crypto ETP listings on SIX, say they’re optimistic XRP ETP will be launched within the next two months under the ticker AXRP.

SOURCE: CHEPICAP


? Blockchain Watch: Well, Well, Whale

FRIDAY, MARCH 15, 2019
THURSDAY, MARCH 14, 2019

Over 27.9M XRP moved worth $8.8 million dollars

WEDNESDAY, MARCH 13, 2019
TUESDAY, MARCH 12, 2019
MONDAY, MARCH 11, 2019

SOURCE: TWITTER


Images courtesy of Shutterstock

Cryptocurrency Triumphs & Troubles

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? U.S. Authorities Charge Leaders of ‘OneCoin’

FRIDAY, MARCH 8, 2019

United States prosecutors announced criminal charges against leaders behind OneCoin, a multibillion-dollar cryptocurrency pyramid scheme. Konstantin Ignatov, Ruja Ignatova, and Mark Scott were charged by the Southern District of New York for wire fraud, securities fraud and money laundering. An estimated $1.2 billion of investor money was laundered to at least 21 countries

SOURCE: NASDAQ


⏸  Fidelity May Delay Support for Ethereum

FRIDAY, MARCH 8, 2019

Fidelity Digital Assets (FDAS) advises support for ethereum (ETH) may be delayed due to the latest hard fork upgrades. FDAS quietly launched this quarter and is a new company created by investing giant, Fidelity Investments. FDAS president, Tom Jessop, says they want ether and other cryptocurrencies to be available but the process it’s easy. Bitcoin (BTC) is currently the only digital asset supported on the platform.

SOURCE: COINDESK


?? South Korea Establishes Task Force To Fight Crypto Fraud

FRIDAY, MARCH 8, 2019

South Korean’s Supreme Prosecutors’ Office(SPO) has created a new task force to protect consumers from fraud, crimes, money laundering, and other suspicious activities related to digital currencies. Cryptocurrency related crimes in the country have risen from 53 in 2016 to 4,500 in 2018. 

SOURCE: COINGEEK


⚙️ OKEx Lists Tron On C2C Market

THURSDAY, MARCH 7, 2019

Cryptocurrency exchange, OKEx, adds Tron (TRX) to its customer-to-customer (C2C) trading platform. The decentralized C2C platform allows users to trade assets directly with one another. In addition, users can place orders with self-selected exchange rates and pay using cryptocurrency or support fiat currencies.

SOURCE: COINGAPE


? eToro Launches Trading Platform & Wallet in the U.S.

THURSDAY, MARCH 7, 2019

eToro, the social investing and trading platform, officially announces the launch of  its fiat-to-crypto platform in the United States. The platform is already available in 140 countries worldwide and will now operate in 30 states and 2 territories in the US. Users will be able to use popular like CopyTrader to follow trading habits of individuals with a proven track record. eToro’s multi-signature wallet provide multi-coin support such as BTC, ETH, LTC, BCH, XRP and XLM

SOURCE: NEWSBTC


? SIX Teams Up With R3 Corda For New Digital Asset Exchange

THURSDAY, MARCH 7, 2019

The Swiss stock exchange, SIX, selects R3 Corda to provide its ucoming blockchain-based platform. It will use R3’s Corda Enterprise to power the Six Digital Exchange (SDX) platform to allow the issuing and trading digital assets, as well as tokenization of securities and non-bankable assets. 

SOURCE: FINEXTRA


? Coinbase Clarifies It Never Shared “Personally Identifiable” Customer Data

WEDNESDAY, MARCH 6, 2019

Coinbase is still in the hot seat since its acquisition of blockchain analytics firm, Neutrino. Tensions raised last Friday when Christine Sandler stated that the exchange’s previous analytics provider was “selling client data to outside sources” in her interview with Cheddar. A spokesperson from Coinbase has now advised Sandler misspoke and clarified the exchange never shared “personally identifiable information with any third-party blockchain analysis vendors.”

SOURCE: COINDESK


? Ripple Launches On Huobi’s OTC Platform

WEDNESDAY, MARCH 6, 2019

Cryptocurrency exchange, Huobi, now supports Ripple (XRP) on to its over-the-counter (OTC) platform which currently lists assets such as bitcoin, ethereum, tether, EOS, and Huobi Token. Huobi OTC aims to bridge the gap between fiat and digital assets, serving as an escrow for its users.

SOURCE: COINTELEGRAPH


? Swiss Stock Exchange Launches Ethereum ETP

WEDNESDAY, MARCH 6, 2019

Swiss’ SIX stock exchange launches its first ethereum-based exchange traded product (ETP) under the ticker AETH. Ethereum ETP, backed by startup Amun AG, is the second cryptocurrency-based ETP to be made available, with bitcoin ETP being the first. SIX plans to list a total of five crypto-based ETP’s which will also include ripple, bitcoin cash and litecoin. These collectively make up the Amun Crypto Basket Index  (HODL5).

SOURCES: BITCOIN.COM


? MakerDAO Holds Vote on Fee Hike for DAI

UPDATE: FRIDAY, MARCH 8, 2019

Votes are in! Users and holders of DAI in favour of increasing the DAI stability fee from 1.5% and 3.5%.

SOURCE: CRYPTOGLOBE

TUESDAY, MARCH 5, 2019

MakerDAO is asking token holders of ethereum-backed stablecoin, DAI, to vote on whether to go forth with the proposed increase in stability fees from 1.5% to 3.5%. MakerDAO’s founder, Rune Christensen, states the rationale behind the fee hike is because DAI’s dollar-peg is “almost at a breaking point”. Token holders can cast their votes here.

SOURCE: COINDESK


⚖️ Quadriga Gets 45-Day Extension from Court

TUESDAY, MARCH 5, 2019

The Canadian court has granted troubled crypto exchange, QuadrigaCX, a 45-day extension to allow for the continued search of $140 million worth of missing cryptocurrency. In addition, the court has appointed Peter Wedlake, a retired partner and senior vice president of audit firm Grant Thorton, to be the chief restructuring officer (CRO). The court has also ordered Amazon Web Services to overturn any data on the Quadriga platform originally created by Gerald Cotten, the former CEO.

SOURCE: COINDESK


☑️ Tron (TRX) Partners With Tether (USDT)

MONDAY, MARCH 4, 2019

Tron Foundation officially announces their newest partnership with Tether. The partnership will bring Tether’s USDT coin onto the TRON network by the end of Q2 2019, and allow the issuance of a TRC20-based USDT. This marks the first major cryptocurrency crossover and will allow TRX and Tether users to transact on the TRON network with access to a price-stable asset.

SOURCE: ETHEREUMWORLDNEWS


? Blockchain Watch: Hello Goodbye

FRIDAY, MARCH 8, 2019

Bitcoin whales moved a total of 9820 BTC, worth $38.4 million dollars.

THURSDAY, MARCH 7, 2019
WEDNESDAY, MARCH 6, 2019
TUESDAY, MARCH 5, 2019
MONDAY, MARCH 4, 2019

Bitcoin (BTC) and Stellar whales start off the week strong.

SUNDAY, MARCH 3, 2019

Ethereum whales are on the go, moving a total of 174, 450 ETH, worth $22.1 million dollars.

SOURCE: TWITTER


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