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Weekly Blockchain Industry Report-44th Issue

( February 9th— February 15th, 2019)

OK blockchain capital is committed to exploring the cutting-edge technology of blockchain, setting benchmarks for high-quality analysis, guiding the sound development of the industry. Follow us to get more high-quality articles.

Photo by Luca Bravo on Unsplash

Market Overview

This week, the daily average global cryptocurrency’s market capitalization was $120.092 billion, representing a 3.19% decrease from last week. Among them, the Top 5 cryptocurrencies’ market cap increased by 5.45%; The daily average transaction volume was $20.24 billion, representing a 27.8% increase. Meanwhile, the transaction volume of Top 5 cryptocurrencies decreased by 14.05%. Most of them showed a upward trend except XRP and BTC, while EOS experienced the biggest increase this week reaching 11.57%.

OK06 index

OK06 index rose 11.12% this week. According to the data from the OKEx trading platform, as of February 15, the index was 410.94; last week was 369.83, and the highest point in the week was 418.39; the lowest was 408.08.

Among the top 10 increases of global cryptocurrency projects, the biggest winner of them is TKN, its maximum price increase was 119.86%.

Analysis of Top 200 Market Cap Projects

The market capitalization of the top 200 projects this week increased by 8.58% compared with last week. Based on our classification of 4 categories: cryptocurrency and payment, basic chain and protocol, vertical chain and protocol, and vertical industrial application, nearly all sectors showed an upward trend except cryptocurrency and payment, among them, vertical industrial application sector experienced the highest price increase.

Through further classification of the vertical chain and protocol and the vertical industrial application sectors, it was found that nearly most industries we follow show an upward trend, and Cloud Service sector increased the most as 58.83%.

Analysis of Newly Listed Projects

According to latest announcements from more than 30 exchanges including OKEx, Binance, Huobi, Bitfinex, Bithumb, ZB.com, Upbit, HitBTC, Bittrex, Poloniex, there is only 9 newly listed trading pairs.

Analysis of Closed Public Offering Projects

There have been 8 closed public-offering projects this past week, with the soft cap totaling nearly 60 million USD. Among these projects, the Information Management sector has the largest soft cap, exceeding 51 million USD.

Important News on Global Governmental Policies this Past Week

Global Policy News of the Week:

Chile: The government is attempting to control crypto profits. In January of this year, its Internal Revenue Service required taxpayers to include cryptocurrency gains when calculating annual income tax, because cryptocurrency is a type of intangible asset.

Venezuela: The country has started regulating and taxing cryptocurrency remittances. The regulatory authorities and the National Superintendence for Crypto Assets (Sunacrip) have set a monthly remittance limit and will charge a transaction fee of 15%.

China: The People’s Court will further strengthen enforcement against illegal fund-raising to ensure the unification of legal and social effect, further improve its institutional mechanisms to promote the standardization, systematization, and formalization of trials and disposals in illegal fund-raising cases, and improve its level of professionalism.

Indonesia: The Commodities and Futures Trading Regulatory Agency (Bappebti) announced new implementation regulations for physical crypto assets futures markets. The regulations focus on good governance, legal certainty, and consumer protection for cryptocurrency transactions.

Keeping Up with the Blockchain Giants

February 11th

According to an anonymous engineer from Silicon Valley, Ripple is offering a “Million-dollar Ripple (XRP)” headhunting reward in the bear market.

February 12rth

The institutional Bitcoin trading platform Bakkt has made full preparations for action. Its parent company, Intercontinental Exchange (ICE), is expected to invest more than $20 million this year.

February 12th

Software giant Oracle announced that 12 corporate customers are now using its real-time application since the cloud-based blockchain platform launched in July last year.

February 13th

Mitsubishi UFJ Financial Group (MUFG), Japan’s largest financial group, has formed a joint venture with Akamai Technologies, a US-based Fintech company, to develop a payment network platform in the first half of 2020.

February 14th

Coinbase announced this week that its wallet users can back up an encrypted version of its private key mnemonics via Google Cloud Drive or iCloud. This new function is designed to provide users with better security.

February 15th

JP Morgan Chase will issue JPM Coin, a digital currency similar to a stablecoin, to support its payment business.

Please follow our twitter @ https://twitter.com/OKCapital_ to stay updated with our reports!

*Credits to Alvin Hung for his superb research!

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Alvin Hung

Co Founder of Crypto Wesearch | Cryptowesearch.com , TG : @alvin0617 instagram: @crypto_wesearch