Cryptocurrency Market Analysis
2018 was quite a year for cryptocurrencies as we witnessed the plunge of most major currencies.
Bitcoin, for example, fell from a peak of $20,000 at the beginning of 2018 to closing price, just below $4,000. Other major virtual currencies, including Ether and XRP, also dropped steeply.
As for the new year, 2019, so far cryptocurrencies are seeing a fair amount of upward trend. In the last 7 days, we have witnessed lots of coins in the green. Out of the top 20 altcoins, NEO, and TRON especially have seen a high percentage increase within the last 24 hrs with 1.88%, and 5.93% increase respectively.
The reason behind these sudden market turn around is alleged to do with the potential to put securities like stocks and bonds on the blockchain.
On Monday, DX. Exchange, an Estonia-based crypto firm, launched a trading platform that lets investors buy shares of popular Nasdaq-listed companies, including Apple, Tesla, Facebook, and Netflix, indirectly through security tokens.
Each token is backed by one share of the company traders want to invest in and entitles them to the same cash dividends.
The exchanges’ chief operating officer, Amedeo Moscato stated that:
“The crypto community has been talking about security tokens for well over a year now without much progress, so we think the impact will be huge”
“Investors will be able to trade the digital stocks round-the-clock, even after markets close”
He continued further to state that:
“By tokenizing stocks of some of the biggest publicly-traded companies like Google, Amazon, Facebook and more, we are opening an untapped market of millions of old and new traders around the globe cutting out the middleman.”
A week after the new Brazilian president officially took to power, Jair Bolsonaro has reprimanded a project offering to create a cryptocurrency for the people of Brazil.
Bolsonaro claimed that the recent project aiming to create a digital currency for the native population of Brazil and which requires the equivalence of $11.7 million from the federal budget has already been canceled by the government.
According to reports, the project was canceled due to errors in the legal bidding process for the agreement. Moreover, the government considered that the contract had been approved too quickly and required a large expenditure.
The institution in charge of this suspended crypto project also plans to launch a stable coin tied to the local Brazilian currency in order to track the transactions of public funds and to encourage transparency for Brazil, which has long been battling corruption.
And this week’s Airdrops, Enjin Coin and CoinMarketBrasil.
Enjin Coin (ENJ)
Enjin Coin is a cryptocurrency (ERC-20 Token) and smart contract platform that gives content creators and the gaming communities the required crypto-backed value and tools for implementing and managing virtual goods. Enjin Coin is airdropping a total of 200,000 ENJ tokens with no estimated value in dollars. You can also earn 1 point for every referral.
How to join this Airdrop?
1. Go to the Enjin Coin Airdrop form
2. Complete the 15 tasks
CoinMarketBrasil is a company that operates in the field of cryptocurrencies, providing payment and receipt systems for crypto-coins, support, and implementation of security, and business competitiveness based on Blockchain technologies. CoinMarketBrasil is airdropping 100 CMBT tokens the equivalence of $ 74 for the first 10,000 participants.
How to join this Airdrop?
1. Go to the CoinMarketBrasil Airdrop form
2. Follow CoinMarketBrasil on Twitter
3. Like/Follow CoinMarketBrasil on Facebook
4. Submit your Ethereum wallet address