SECONDARY MARKET ANALYSIS (18 SEPTEMBER)

Disclaimer: The views and claims expressed here are not meant as an alternative form of investment advice. Every investment move involves risk, and you should consult professional financial advisors for guidance or conduct your own research before making a decision.

This Week’s Hot Topics

 

China

1. The Hangzhou Internet Court announced that the judicial blockchain was officially launched and it is now the first application of blockchain technology in the country.

2. After the internal trial operation, China Postal Savings Bank successfully completed its first secondary market Forfeiting inter-bank transaction based on blockchain technology with the blockchain Forfeiting trading platform (U-chain platform).

3. The Shanghai headquarter of China’s central bank and Shanghai Financial Services Office jointly issued a document to remind investors to prevent ICO and virtual currency trading risks.

4. In the financial sector 2018 Summer Davos Night + Blockchain Thoughts, Peng Feng, head of the Planning Department of the Digital Money Institute of the People's Bank of China, said that the blockchain is an emerging technology that could become the future financial infrastructure. There is no necessary connection between legal digital currency and blockchain, it is only one of the optional technologies.

 

Southeast Asia
1. The currency security will begin on 18 September and conduct a closed trading test on Singapore’s legal currency exchange within 3 days. In early August, Binance LCX, a joint venture between Champion and LCX, announced the launch of a French currency exchange in Liechtenstein to trade Swiss francs (CHF) and Euro (EUR) with major digital currency pairs.

2. According to the Bitcoin exchange guide, even though the Reserve Bank of India (RBI) has implemented a cryptocurrency ban, some exchanges in India have resumed providing rupees (INR) to purchase cryptocurrency services.

3. According to CCN news, the researchers found that hackers have stolen the processing power of several Indian government websites to tap cryptocurrencies.

 

South Korea, Japan
1. According to The Bchain news, the Korean government officials said that the South Korean Ministry of National Defense began research on the introduction of blockchain technology into the military through the Korea National Defense Science Research Institute (ADD) in May.

2, Japan’s cryptocurrency exchange ZAIF official released a tweet last night stating that due to server failure, they will be stopping BTC, MONA, BCH recharge and withdrawal services, and a full investigation will be carried out to fix the fault.

3. The “Hanyang Blockchain Research Institute” of Hanyang University in South Korea will be unveiled on the 20th of September. Finance and economics, policy and law, security, testing, business cooperation, entrepreneurship, talent education and other eight research centers will be under the jurisdiction of the platform.

 

Europe
1. NASDAQ ETN provider plans to launch a cryptocurrency portfolio, hoping to provide up to 10 cryptocurrencies for exchange-traded products to fill gaps in market demand.

2. According to Bloomberg News, Raymond Dearie, a regional judge in New York, recently ruled that the US securities law can cover ICO.

3. British Health and Social Work Minister Matt Hancock said at the annual meeting of the World Economic Forum’s New Champions in Tianjin that the blockchain has great potential in the field of disease treatment. Currently, two medical institutions in the UK are using blockchain technology.

 

Market Review

The Total Market Value of Global Cryptocurrency Assets

Source: coincheckup.com

As of 17:00 on 18 September, the global cryptocurrency market value was 193 billion US dollars, down by 3.20% compared to yesterday’s market value of 19.4 billion US dollars; the global encryption market has a 24-hour volume of 12.6 billion US dollars. It increased by 23.5% compared to yesterday’s volume of $10.2 billion.

 

Top 5 Digital Currency Market Value Changes

Source: coinmarketcap.com

As of 17:00 on 18 September, the top 5 projects in terms of market value are BTC, ETH, XRP, BCH, and EOS. From the 24-hour ups and downs, the short-term reversal peaked in the market and continued to decline. The top 5 currencies all showed different degrees of decline, of which:

BTC’s current 24-hour decline is 3.08%, and the current market value is 56.26%.
ETH is currently down 8.18% in 24 hours, and the current market value is 10.59%.
XRP is currently down 1.89% in 24 hours, and current market value is 5.65%.
BCH currently falls 6.55% in 24 hours, and current market value accounts for 3.76%
EOS currently falls 8.72% in 24 hours, and current market value accounts for 2.30%.

 

24-hour Top 5 Digital Currency Exchanges ( By Volume)

Source: coincheckup.com

As of 17:00 on 18 September, the total transaction volume of the top 5 exchanges was $3.668 billion, an increase of $1.066 billion from yesterday by 40.93%. Although the overall digital currency prices have declined to varying degrees, market sentiment has picked up and the market confidence has risen.

 

Premium Rate of USDT in Exchanges

Source: chaintrack.cn

As of 17:00 on 18 September, the premium rate fluctuated by 1%. The USDT premium rate rose to 1.3158% at 8:00 today, reaching the highest point in the past 10 days. There is increased capital in the market, and panic selling reappeared in the trading market on 17 th night. BTC fell by 3.76%. The increase in the USDT premium rate can be understood as capital entry into the market. Investors should take a rational look at market volatility and do a good job of risk control.

 

Top 5 Digital Currency Turnover Rate

Source: feixiaohao.com

As of 17:00 on 18 September 18, the TOP5 digital currency turnover rate showed an overall upward trend. Today’s EOS turnover rate is still the highest in the Top5 digital currencies, 20.72%, an increase of 8.8% compared with yesterday. The smallest increase is XRP, a slight rise of 0.4%. The increase in turnover rate illustrates the improvement of capital activity and the phenomenon of investor confidence.

 

Market Panic and Fear Index

Source: alternative.me

As of 17:00 on 18 September, the “fear and greed” index of digital currencies was 21, a 16% decrease from the same period of the previous year (index 25), and the level of panic increased. At this stage, it is still at the level of “extreme fear”. Most investors still lack confidence in the entire market, and greed is less.

 

Topic of the Day

Polymath partners with Block Estate to create real estate securities tokens

Polymath and the US real estate certification fund BlockEstate have jointly launched the Security Token Offering Block Estate Alpha Token (BEAT) based on Ethereum. A securities token is a digitally priced token (similar to stocks and bonds) that is SEC regulated and represents asset ownership, and it relies on secured blockchain technology for redemption and trading.

Block Estate Token will be configured using the Polymath platform, which represents the fund share of token holders and is one of the first securities tokens issued on real estate-based assets. Polymath is a platform for securities-based token origination and blockchain agreement integration with laws and regulations. The platform’s protocol embeds financial regulatory requirements in the design of the new STO, and it can seamlessly build financial products on the blockchain.

The release of BEAT will use Polymath’s securities token standard protocol ST-20, which simplifies the process of creating and investing in BEAT while embedding legal and regulatory compliance into tokens. The Open Finance Network (OFN), the only regulated securities-based trading platform in the US, will be launched on BEAT, while OFN will work with institutional and retail investors to deploy blockchain technology globally to promote more efficient securities trading.

The issuance of real estate securities-based tokens is no stranger to investors. Templum, a regulated trading platform, launched a securities-based token “Aspen Token” for the luxury resort St. Regis Aspen in Colorado. The “Aspen Token” was issued with the resort’s rooms as its underlying assets and plans to raise up to $18 million in funding. Certified investors can purchase “Aspen Coins” through the regulated intermediary Templum and indirectly hold shares in St. Regis Aspen Resort, with voting rights and profit sharing. The successful issuance of such tokens represents a transformative approach to real estate investment and a unique way of storing wealth.

Securities-based tokens are a more acceptable organizational structure for institutional investors. They are also a technological innovation for crypto-asset investors, allowing issuers to accept capital from around the world. These tokens are traded globally under regulatory premise, resulting in more fair pricing that can fragment large assets, achieve greater liquidity, and achieve lower insurance costs and higher market efficiency.

On the other hand, the issuance of securitization tokens is a pioneering guide to the characterization of digital currencies. If the relevant regulators can accept such restrictions, then the ICO will impose more standardization restrictions on the digital currency. The introduction of funds in the market provides protection. The current digital currency market is in the midst of competition for various currencies. Everyone wants to be the center of credit currency, but such motivation will end with the stricter supervision. Instead, it will be the era of physical assets under the support of technology such as the Internet of Things (IoT).

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