Flipside Daily Mover: FCAS 25
A coin per day, making big moves
FCAS 25 Rises for 6th Straight Month
September 4, 2019
The FCAS 25 tracks the overall health of the crypto-asset industry by following the fundamental scores of the top 25 projects over time. The time-weighted moving average for these 25 assets is up 6-points (0.72%) since August 1st.
Who is in, who is out?
Members of the FCAS 25 are reevaluated each month and must be ranked within the top 25 for at least 40 days to qualify. Today, a new set of members was released with a number of significant changes. This month, XRP (XRP), Chainlink (LINK), BTS (BitShares), and Waves (WAVES) joined the top list, replacing OmiseGO (OMG), Kyber Network (KNC), Verge (XVG), and NEM (XEM).
XRP utilization has benefited from its recent partnership with MoneyGram, and Chainlink continues to prove its value as a leader of blockchain oracle middleware. OmiseGO, Kyber Network, and Verge remain strong players, but have failed to keep pace with other emerging projects in the space.
🌶️ Hot Take
Overall industry health has continued to climb as projects remain focused on product development and begin transitioning into more concerted efforts around marketing and user adoption. Despite these efforts, Bitcoin continues to assert its dominance in the space, now accounting for over 70% of overall market share. This concentration bodes well for BTC’s proven use case as a digital store-of-value, but casts shade over the rest of the industry’s ability to prove their own use cases and ultimately drive network value.
August played host to some developing stories that will make for an exciting September, as Bakkt plans to begin accepting bitcoin deposits into its warehouse, and China’s digital currency nears seeing the light of day. There is wide-speculation on what exactly this new Chinese digital currency will look like, but it will likely not be a blockchain-based cryptocurrency and rather a purely digital replacement of the Yuan under tight control of Chinese authorities.
Overall, crypto’s August felt every bit like the end of summer (for those in the Northern Hemisphere, of course). Leaving time to bask in the sun, go to Burning Man, seek some rest and relaxation, and gear-up for an eventful remainder of Q3.
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*The material contained in this email is not to be construed as an offer or a recommendation to buy or sell a security nor is it to be construed as investment advice.
