CBX Newsletter // 30 Jan 2019
- Blockchain discussed in Davos
- Tron (TRX) goes up in price, BitTorrent token Sale.
- Bitcoin and the crypto market
- Trade Stellar on CBX!
Blockchain discussed in Davos
Last week the World Economic Forum (WEF) annual meeting was held last week Jan. 22–25 in Davos, Switzerland, and Blockchain was, of course, one of the main discussed topics among the attendees. It seems that many institutional investors are very interested in Blockchain but not so much in Bitcoin or Cryptocurrencies.
The WEF appointed the CEO of BitPesa, Elizabeth Rossiello, to be part of the Global Council on Blockchain. BitPesa is a Blockchain startup from Kenya with a focus on remittances among the United Kingdom, Kenya and several other countries.
The Blockchain Council was created in 2017 by the WEF and its part of the San Francisco-based Fourth Industrial Revolution and Cybersecurity Center. The forum recognized Blockchain’s role in the Fourth Industrial Revolution as early as 2016.
However, there are some experts that believe Bitcoin’s technology is great but they don’t believe in the currency itself, Jeff Schumacher, founder of BCG Digital Ventures said “I do believe it will go to zero. I think it’s a great technology but I don’t believe it’s a currency. It’s not based on anything”.
TRON (TRX) goes up in Price — BitTorrent Token Sale
At a time when the whole cryptocurrency market seems to be dominated by bears, it’s quite fascinating that TRON has managed to appreciate over 35% this year trading just below $0.03 cents an the time of writing, and has managed to increase over 120% since December 2018.
The excitement comes fundamentally from investors wanting to get in the BitTorrent token sale (BTT). BitTorrent was acquired by Justin Sun, founder of Blockchain protocol TRON, last year. It has a very large community of users. Therefore its believed that the success and infinite possibilities of how the BitTorrent platform and BTT will change the world of peer-to-peer file sharing has lured many investors despite the market conditions.
Some employees of BitTorrent have not been very happy under Justin Sun’s management, which has led to many workers leaving the firm. However, that didn’t discourage token buyers from successfully completing the token sale in less than 18 minutes on the 28th of Jan 2019.
Bitcoin and the Crypto Market
Bitcoin, the leading cryptocurrency in the market is currently trading at $3,400 on CBX after various days of price consolidation. Volume has dropped significantly on the last couple of days and hasn’t spiked above $6.9 Billion daily trading volume so far this year.
By analyzing the daily chart we can see that Bitcoin is approaching December lows $3,150 if it doesn’t manage to hold support around that area, the next technical targets that will benefit the bears will be the $3,000 handle, and $2,900 which was resistance and support during the Q3 and Q4 of 2017. The bulls need a break above $4,000 to prove that they are in control, for now, the bias favors the bears.
According to data from coinmarketcap.com, the overall market capitalization of all cryptocurrencies is valued at around $113 Billion with Bitcoin having over 53% of the market dominance. If Bitcoin drops below support is likely that the overall market capitalization tests $100 Billion as psychological support, which will most likely increase Bitcoin dominance.
Congrats to EOS which is now on the 4th place in the overall market, pushing coins like Litecoin (LTC) and Stellar (XLM) below.
Trade Stellar on CBX!
By the way, yesterday we announced support for Stellar (XLM) on CBX, you can start trading XLM pairs right now!
Trade Stellar, Bitcoin, and other Cryptos on CBX
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