Digital Asset Daily: Crypto-Ecosystem Development Continues…

Market Movers

The market continues to move very little as total market cap sticks to the range it has hovered in the last few days, with total market cap at 342b. BTC (-1.0%) and ETH (-1.1%) had small losses to essentially counterbalance yesterday’s small gains.

The majority of altcoins have followed with moderate losses for many. There have still been a handful of winners, led by Bibox Token (BIX +10.7%), Huobi Token (HT +7.8%) and Siacoin (SC +6.2%).

The losers far outnumber the winners on this day although for most coins the losses have been small. The largest losers have been Loom Network (LOOM -9.6%), Veritaseum (VERI -9.0%) and Waltonchain (WTC -8.6%). Veritaseum has become something of a regular in the losers column and seems in danger of dropping out of the top 100.

Noteworthy News

Swiss bank ‘Hypothekarbank Lenzburg’ is the first Swiss bank to offer business bank accounts to crypto firms. The bank is from the canton of Zug, which is where the Swiss crypto valley is. The due diligence process is very selective, with only 2 crypto clients thus far. However, this is still a good sign that crypto companies can look outside of Malta for business bank accounts in the region.

Genesis Markets has launched, which is a one stop trading platform for crypto where you can access the order books and thus buy and sell across multiple exchanges while on one platform. Trading fees are also halved if holding the native GVT token. This could be an important development that sees the end of pricing discrepancies across exchanges.

In excellent news for the development of the whole blockchain space, South Korea have launched the world’s first government backed Blockchain Research Institute. This will have the aim of educating Koreans about Blockchain and will be run by Waltonchain. It’s a great sign that the Korean government are seeing blockchain education as important for the future.

Black Horse Group is a digital asset investment and advisory firm based in Hong Kong.




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