Secondary Market Analysis (27 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


1. Bitcoin disclosed the prospectus on the Hong Kong Stock Exchange today, in which CICC is the sole sponsor. According to the prospectus, Bitland’s net profit for the first half of the year was US$743 million, up by nearly eight-fold year-on-year. The adjusted EBITDA was US$1.123 billion.

2. The president of The Industrial and Commercial Bank of China (ICBC), Gu Yu, released the comprehensive financial service system of ICBC based on “one platform and three major product systems”. The “three major product systems” refer to the various growth lines of small and micro enterprises, providing a variety of online financing products including “fast loan” for pure credit, “net loan” for collateralization, and “online supply chain”.


Southeast Asia

1. A local financial technology (fintech) company in the Philippines launched a blockchain-based e-commerce site called CashCart.io, supported by NEM and Proximax.

2. The Central Bank of Vietnam recently issued a directive on cryptocurrency transactions aimed at strengthening control over cryptocurrency transactions and online gambling sites.


South Korea, Japan

1. The Korean government held a cabinet meeting this morning to review the amendments to the Law on Special Measures for Promoting Venture Enterprises. The meeting again decided to exclude blockchain-based crypto asset transactions and brokerage business from venture capital firms.

2. Seoul Mayor Park Won-soo will visit some European countries on the theme of “Innovative Future” to discuss issues such as blockchain, urban processes and social economy. In addition, Seoul City plans to introduce a blockchain policy aimed at achieving leapfrog development of smart cities through blockchain technology.


Europe, America

1. Swiss startup SEBA Crypto AG has raised CHF 100 million to provide cryptocurrency services to companies and investors while extending traditional banking services to the encryption industry.

2. American technology company Ideanomics deployed an intelligent digital supply chain management platform driven by blockchain and artificial intelligence technology for the Asia Pacific Economic Cooperation (APEC).


Market Review

The Total Market Value of Global Cryptocurrency Assets

Source: coincheckup.com

As of 16:00 on 27 September 2018, the total market value of global digital currencies was 216.2 billion US dollars, an increase of 3.3 billion US dollars from yesterday’s 212.9 billion US dollars. This indicates an increase of 1.55%. The global encryption market has a 24-hour volume of 15.4 billion US dollars. The trading volume increased by 1.99% compared with yesterday’s value of $15.1 billion.


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

Source: coinmarketcap.com

As of 16:00 on September 27, 2018, the total transaction volume of the top 5 exchanges was $3.88 billion, a decrease of $82 million, or 2.1%, from the same period of last year with a value of $3.962 billion.


Turnover Rate of USDT in Exchanges

Source: feixiaohao.com

As of 16:00 on September 27, 2018, the BCH turnover rate has increased significantly by 7.2% compared to yesterday. On the contrary, the turnover rates of the other four currencies all showed different declines. The turnover rates of BTC, ETH, XRP and EOS were 0.26%, 1.58%, 1.22% and 1.97% respectively.


Premium Rate of BTC, ETH, and USDT in Exchanges 

Source: chaintrack.cn

The premium rate fluctuates normally between 1% and 3%. A premium of less than 1% indicates that the fund’s entry condition is pessimistic and it is bearish. A premium rate of more than 3% indicates that the fund’s entry condition is high, which is optimistic. As of 16:00 on September 27, 2018, the BTC, ETH, and USDT premium rates fluctuated between -0.5% and 0.5%, indicating that all of the funds’ admission conditions were low.


Top 5 Digital Currency Market Value Changes

Source: coincheckup.com

As of 16:00 on September 27, 2018, the market value of the top 5 projects are BTC, ETH, XRP, BCH and EOS. From the 24-hour analysis ups-and-downs, the market entered a sideways shock adjustment period.

BTC has a current 24-hour increase of 0.94%, in which the current market value accounts for 52.0%.

ETH is currently up 2.00% within 24 hours, and the current market value is 10.3%.

XRP currently has an increase of 1.28% within 24 hours, and the current market value accounts for 9.7%.

BCH has a current 24-hour increase of 20.07%, with a market value of 4.3%

EOS currently has an increase of 4.84% within 24 hours, and the current market value accounts for 2.4%.


Market Panic and Fear Index

Source: alternative.me

The fear and greed index reflects market sentiment with a range of 0-100. The smaller the index, the greater the fear of the market, the smaller the greed, indicating that the recent market is bleak.

As of 16:00 on September 27, 2018, the FGI index of the digital currency “Fear and Greed” was 42, which was 5 points higher than the index of 37 in the same period yesterday.


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