Market Report: 1st Feb. 2019 — Subscribe to our newsletter.
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CRYPTO NOTE
The daily view from our desk
For those that might have missed last weeks Daily Market Reports, you can read them on our Medium page here.
With Hell freezing over, a trouser invasion and Theresa May arriving in Brussels on a spitfire, you’d be forgiven for thinking the end of the world was upon us. But even if our final days are here at least we can enjoy the weekend; some may try to rob a bank the old fashioned way whilst others might finally pluck up the courage and ask out that insect they’ve had their eye on.
BIT TORREKT?
DOES BIT TORRENT REALY NEED A TOKEN?
As the top cryptoassets continue to slowly deflate, having lost 3.9% over the past 24 hours, traders’ eyes are again focused on new projects. With very few tokens being listed each month, it’s easier to focus on their uniqueness and potential profits — with the latest micro-cap on the block being BitTorrent’s Token, or BTT.
The much-criticised Tron-backed ICO took place on Monday and the first market opened up for trading yesterday. So far, the price has fallen since it hit the exchange, but it still netted around three to four times what investors paid for it during the token generation event. As Crypto_C00kie puts it, watch the hype!
ETF MODIFIED
THE PROVERBIAL BITCOIN ETF COULD BE APPROVED NEXT OCTOBER. WHAT NEXT?
Meanwhile, now that the US government is back on-the-line, CBOE has resubmitted its infamous VanEck/SolidX Bitcoin ETF proposal. Naturally, Jake Chervinsky came to Crypto Twitter’s rescue to clarify the deadlines. In brief, after the US SEC officially registers the proposal, we can still wait for up to 8 months!
As for what to expect during those 240 days, we recommend checking Alex Krüger’s latest thread explaining bitcoin’s trends. In the short-term, it’s also important to consider the current bearish bias, as Cred notes. On the bright side, the always bearish Ramen of Binance has turned neutral as per the below tweet!
WHAT YOU CAN’T MISS TODAY
DON’T LEAVE FOR THE WEEKEND WHAT YOU SHOULD READ TODAY
▪ Still don’t know what Grin, the cryptosphere’s latest darling — before BTT appeared, at least — is all about? MIT’s Technology Review just published a great summary!
▪ Still don’t know why privacy-aficionados like Grin? CoinJournal’s Kyle Torpey just summarised an online podcast which explained: “why bitcoin still has weak privacy.”
▪ Still don’t know why privacy is so dear within the cryptosphere? Messari, a cryptoasset and blockchain research firm, has compiled a great list of resources here.
▪ Still don’t know why the US SEC is after Kik’s popular app and its unregistered token sale? Isabel Woodford dissected a video and explains the regulatory debate.
▪ Still don’t know why JP Morgan’s marginal cost of Bitcoin pricing methodology is ridiculous? This quick ZeroHedge article clarifies it and shuns such valuation attempts.
▪ Still don’t know why Crypto Twitter is so important in this community? ConsenSys offers an Ethereum-based perspective on the best accounts and their social impact.
QUOTE OF THE DAY
EOS, DECENTRALISE EVERYTHING
“Forcing overly decentralized governance will be the most common cause of death for blockchain projects.”
- By Eric Conner
btt token lunched and listing on binance , but bittrex not listing why ?