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Crypto Exchanges: Looking For Guaranteed Results

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The word guaranteed is never to be used anywhere investment advice is offered.  So please think of my use of the term as just one person’s opinion. But after doing some weekend reading, I think there should be a way to achieve extraordinary gains that are virtually assured for a very long time.

Back in the glory days of the dotcom period the wisdom of the time was simply stated: invest in the plumbing. That included names like Cisco and Intel.  These were the folks that facilitated high speed traffic on the Internet. Even after the dotcom bubble burst, the plumbers continued to rake in the dough.

Fast forward to 2018, why should we not follow the same logic? Please don’t ask why I didn’t ask this question long ago. Here is what caught my attention.

There is a new study out prepared by The Status Group that makes some incredible projections for the immediate future.  Here are their headline making forecasts.

  • We expect crypto trading volume growth of +50% through 2019, and a 9% CAGR through 2028
  • Crypto trading volume is set to overtake U.S. Corporate Debt trading volume this year, and is on track to be ~10% of U.S. Equity trading volume
  • We estimate exchange trading fee growth of 50%+ this year, from $2.1B last year to well over $3B in 2018
  • The top 20 exchanges account for over 75% of total crypto market trading volume
  • BTC is the base pair for ~1/3 of global crypto volume, USDT 22%, ETH 12%

Always Be Cautious of Forecasts

With no disrespect meant, are the forecasters at The Status Group really serious?  Well, 2019 isn’t that far off so we will know soon enough. But the point is, how do we get involved in the growth of trading rather than pure speculation on crypto prices?

Take the case of the two largest players: Bitmex and Binance.  Over the past 30 days, the two exchanges have traded over $125 billion in value.  That is just in the last month or $1.5 trillion annually. This is only the top two.  If the five largest were included, the monthly total rapidly approaches $200 billion.

Bitmex stands out from a recent article titled: Bitmex Co-Founder is the Youngest British Self-Made Billionaire. Brilliant ideas and hard work deserve and that is why Ben Delo, Samuel Reed and Arthur Hayes are billionaires. But try to buy into Bitmex, good luck.

But there is #2 Binance (BNB) whose token can be traded on the Binance exchange. According to ICOMarks, the market cap of BNB is just a little over $1.1 billion. Back in January, BNB reached $22 but has since tumbled to just $10 -marking a drop of roughly 60%.

Putting that into perspective, that is just a bit less than the average crypto has done this year. But before you doze off, consider this. Changpeng Zhao, BNB founder, just reported second quarter profits of $200 million.  That amounts to 2,757% over the $7.5 million earned in the first quarter.

In other words, BNB’s market cap is equal to just five times the profits in the first six months. If BNB were listed on the New York Stock Exchange and received an average valuation, it would sell for about 23 times earnings.  There may be many reasons why the value of BNB is so low but if it continues to generate such sizable profits, somebody is going to take notice.

As we noted, there are probably lots of reasons why the asset value has fallen nearly as much as the average crypto this year.  This is where I would love to hear from you. Just like back in the post dotcom days, the plumbing companies made the most money.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.4 stars on average, based on 114 rated postsJames Waggoner is a veteran Wall Street analyst and hedge fund manager who has spent the past few years researching the fintech possibilities of cryptocurrencies. He has a special passion for writing about the future of crypto.




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  1. GxM

    September 25, 2018 at 8:36 am

    a bnb is not a share of binance… difficult to say how it will be used except to get the discount on trading but is this enough to give a long term value to this token???

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Altcoins

Stellar Lumens Quietly Leads Crypto Market Recovery as Fidelity Rumors Circulate

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Stellar Lumens has put up double-digit gains over the past week, buoyed by improving fundamentals and rumors of a potential partnership with Fidelity Investments.

XLM/USD Update

The XLM price experienced little movement on Sunday, as the overall market made tepid gains. At the time of writing, XLM was down 0.8% at $0.2415. Against bitcoin, the cryptocurrency was down 2%, according to CoinMarketCap.

Compared with seven days ago, XLM has gained more than 13%. Lumens peaked near $0.2500 on Saturday. Over the same period, the broader cryptocurrency market rose 4%. Bitcoin is up just 3.4% over the same period while Ethereum gained 3.7%.

At current values, the Stellar blockchain has a total market capitalization of $4.6 billion. Trade volumes in the last 24 hours reached $48.1 million. Binance, BitMart and BCEX are the largest markets for XLM trades, according to the latest available data.

This isn’t the first time XLM has outperformed the broader market. Lumens managed to hold its ground during the mid-August slump, a period that was associated with a 21% drop in Ethereum and a nearly 40% plunge in IOTA.

Fidelity Rumors Circulate

The latest upsurge in Stellar’s price follows speculation that Fidelity Investments may consider adopting the XLM blockchain for its digital asset business. The speculation is tied to Tom Jessop, a Fidelity executive who used to run a promising blockchain startup by the name of Chain. The Chain project was recently acquired by the Stellar Development Corporation. Following the merger, the Stellar Development Corporation re-branded as Interstellar.

From an institutional standpoint, Fidelity is considered an early adopter of cryptocurrency. The asset manager has been mining cryptocurrency for the past four years and recently announced plans to develop a new suite of blockchain-focused products.

Stellar has been subject to other positive speculation in recent months as large corporations seek entry into the blockchain arena. In August, Business Insider speculated that Facebook was eyeing a potential partnership with Stellar. Although Facebook denied the rumors, there’s strong reason to believe that the social media network will soon enter the blockchain arena, which makes Stellar a prime candidate for adoption.

Last month, IBM announced it had officially launched its new money transfer business on the Stellar protocol in a move that could springboard digital currency adoption across the globe. IBM Blockchain World Wire, as the system is known, utilizes Stellar to settle cross-border transactions in a matter of seconds.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.6 stars on average, based on 649 rated postsSam Bourgi is Chief Editor to Hacked.com, where he leads content development for one of the world's foremost cryptocurrency resources. Over the past eight years Sam has authored more than 10,000 articles and over 40 whitepapers in the fields of labor market economics, emerging technologies, cryptocurrency and traditional finance. Sam's work has been featured in and cited by some of the world's leading newscasts, including Barron's, CBOE and Forbes. Contact: sam@hacked.com Twitter: @hsbourgi




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Altcoins

Ravencoin (RVN) Arrives With 118% Weekly Growth Ahead of Mainnet Launch

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Ravencoin (RVN) made its entry into the market cap top one-hundred on Sunday, propelled by a Binance listing, and 118% sustained growth over the course of the week.

Trade volumes for the asset-creation coin hit all-time highs on Thursday, rising an incredible 23,000% from $212,000 to $49 million within the space of ten days.

Ravencoin has been around since 2017, and the upcoming mainnet launch on October 31st marks the one year anniversary of the coin’s creation. It also marks the ten year anniversary of the release of the Bitcoin whitepaper by Satoshi Nakamoto.

RVN Rising

Ravencoin was going relatively unnoticed until it gained a Binance listing on October 11th. As you can see from the chart below, the Binance listing completely changed the coin’s fortunes.

Indeed, if we look at the source of today’s $49 million worth of trades we see that Binance has housed just under 85% of the total.

In the past week the coin rose 118% in value, climbing from $0.017300 up to Sunday’s peak of $0.037732. Since the date of the Binance listing the coin is up 172% in value, and finds itself among the market cap top-eighty.

What Is Ravencoin?

The Ravencoin protocol is open-source and available to the public, and focuses on the creation of digital assets on its Proof-of-Work (PoW) blockchain.

The blockchain itself is secured by sixteen different hashing algorithms, all of which are rotated on a non-patterned basis. The algorithm changes depending on the final digits in the preceding block hash, making it impossible to predict by ASIC mining machines.

As stated in the initial release notes last year:

“The core developers are currently focused on building the asset layer which will allow Ravencoin to facilitate the transfer of assets.  There is a hard-fork planned for the network to implement this additional asset layer in around October/November 2018 time frame.”

The devs appear to have held true to that time frame, and the mainnet upgrade is expected to go ahead as planned on October 31st.

The release notes state that no premine was used, nor are there any developer rewards. The blockchain is intended to be a Bitcoin for digital asset creation, and according to the official documentation:

“Assets can come in a variety of types, such as financial instruments such as security tokens/stocks/bonds/deeds/etc as well as gaming items (ex. a sword)/conventional asset management/managing  distributions for co-ops/digital art. There are a lot of real-world applications that this blockchain is intended to disrupt and improve.”

More can be read about the coin’s unique hashing algorithm, known as X16R, in the dedicated whitepaper provided in the Ravencoin release.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.4 stars on average, based on 82 rated postsGreg Thomson is a full-time crypto writer and digital nomad. He eats ICOs for breakfast and bleeds altcoins. Wherever he lays his public key is his home.




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Minor Bounce Lifts Crypto Market Cap Above $211 Billion; Tether Circulation Plummets

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Crypto prices traded modestly higher on Sunday, as bitcoin regained its footing above $6,500 and major altcoins avoided further losses.

Market Update

The cryptocurrency market capitalization on Sunday peaked at $212 billion, the highest in five days. At the time of writing, the market was valued at $211.5 billion.

Most assets ranked in the top-20 had reported minor gains over the last 24 hours, a period marked by lower trade volumes. The bitcoin price has returned above $6,500 on trade volumes of just $3.2 billion. The leading digital currency continues to trade at a premium on Bitfinex.

Meanwhile, Ethereum rose half a percent to $206. XRP also climbed 0.5% to $0.459. Bitcoin cash was last seen trading above $449 for a gain of 1.6%.

Stellar XLM was the only top-ten coin not to report gains at the time of writing. However, the no. 6 coin by market cap has returned more than 13% over the past week, far outpacing the broader market.

Trade volumes have declined steadily over the past week, as markets re-balanced following a sudden spike on Oct. 15. Digital exchange volumes have fallen to $9.7 billion on Sunday, according to CoinMarketCap.

Tether Market Cap Plunges

Since the start of October, Tether has pulled more than $600 million worth of USDT out of circulation, leading to a sharp drop in the stablecoin’s market cap. Cryptocurrency exchange Bitfinex, which is run by the same executive in charge of Tether Limited, appears to be leading in the offload of USDT tokens. As CCN recently reported, Bitfinex has initiated six transfers of USDT funds to the Tether Treasury this month. The latest transfer was initiated on Wednesday when Bitfinex sent 50 million USDT to the Treasury.

Most of the outflows from Bitfinex occurred long before USDT lost its peg to the dollar in a single-day crash on Oct. 15. USDT briefly fell below $0.90 that day before quickly recovering around $0.94. Currently, one USDT is equivalent to $0.984 U.S., according to CoinMarketCap. Some exchanges are quoting USDT as low as $0.96 on Sunday.

The sudden decline in Tether’s circulation comes at a time when the company is facing heightened scrutiny over its dollar-backed reserves. An influx of alternative stablecoins offering greater transparency and regulatory oversight may also be undercutting demand for USDT.

Case in point: the Gemini Exchange’s GUSD stablecoin reached a high of $1.19 on Tuesday before settling around parity against the dollar. Unlike USDT, the Gemini Dollar has obtained regulatory approval from the New York Department of Financial Services. On the opposite side of the spectrum, Tether has been subpoenaed by federal regulators over its connection with Bitfinex and failure to prove its dollar reserves.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.6 stars on average, based on 649 rated postsSam Bourgi is Chief Editor to Hacked.com, where he leads content development for one of the world's foremost cryptocurrency resources. Over the past eight years Sam has authored more than 10,000 articles and over 40 whitepapers in the fields of labor market economics, emerging technologies, cryptocurrency and traditional finance. Sam's work has been featured in and cited by some of the world's leading newscasts, including Barron's, CBOE and Forbes. Contact: sam@hacked.com Twitter: @hsbourgi




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Hacked.com and its team members have pledged to reject any form of advertisement or sponsorships from 3rd parties. We will always be neutral and we strive towards a fully unbiased view on all topics. Whenever an author has a conflicting interest, that should be clearly stated in the post itself with a disclaimer. If you suspect that one of our team members are biased, please notify me immediately at jonas.borchgrevink(at)hacked.com.

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