Blockchain Market Update: 4 February 2019
Positive news around the launch of Fidelity’s custody solutions in March and the resubmission of VanEck’s ETF application have not materially affected the market. Digital assets were trading within a tight 5% range last week, with total market cap lows and highs at $111bn and $116.5bn respectively. Overall volume is down by more than 30%, from the week’s high of $22bn, currently at the $15bn mark. Bitcoin has found support at $3,400 after a small plunge at the beginning of last week with a quick recovery back to a ~$3,460 range. Bitcoin saw some activity towards the end of the week, with an attempted breakout stopped at $3,550 but is now back at $3,450 at the time of writing. Similarly Ethereum, trading in a 5% range, has found support at $104 and resistance at $110 and is down by 1.5% compared to last Monday. The second largest digital asset Ripple had spiked by almost 15% on Wednesday, however the bullish momentum only lasted a couple of hours and XRP is now back above the $0.3 mark, 3% higher since last Monday. Fourth and fifth largest assets EOS and Bitcoin Cash are both up by 5%.
- Bitcoin’s dominance and total market cap remains at 53.3%. and $114bn respectively and overall volume is down by more than 18% from the previous week. Bitcoin is down by 0.5%, Ethereum is slightly up by 0.7%, XRP is up by 3%, and EOS is up by 5%. The best performers among the top-40 crypto were Augur (20%), Litecoin (8.5%), EOS and Bitcoin Cash (5%).
- Fidelity to Formally Launch Custody Service in March
- Binance Allows Customers to Buy Crypto with Credit Card
- VanEck Resubmits Bitcoin ETF Application
- Polkadot Seeks Additional $60m via ICO
- SWIFT Wants to Integrate R3 Blockchain Technology
- Last Week in Funding
- TokenSoft Launches Custody Wallet for Security Tokens
- tZERO Security Token Exchange is Live
- South Korea Maintains ICO Ban
- Wyoming Passes Cryptocurrency Bill