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Cryptocurrency Midday Report

May 17, 2018

  • New York just granted its  5th BitLicense to Genesis Global Trading. Genesis Global Trading had previously been operating in New York under a safe harbor provision offering a trading exchange for high net worth and institutional investors. The platform supports Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH) Ethereum Classic (ETC), Ripple (XRP), Litecoin (LTC), and Zcash (ZEC). After three years, only five firms have received a BitLicense
  • Canaan, a Bitcoin mining company is filing for an IPO in Hong Kong. The firm creates Avalon hardware equipment, produces ASIC mining chips and rigs. The firm is expected to earn 28.6 billion Yuan by 2020.  The company aims to have its equity publicly traded as soon as July 2018. The company may have picked Hong Kong for its listing in contrast to mainland China and the US because of potentially more regulation in the latter two locations
  • Germany’s Stuttgart Borse, its second largest stock exchange, has announced it is launching a zero-fee cryptocurrency app. The app will be released in the fall of 2018 and offer Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP). Artificial intelligence will be featured on the application - “Cryptoradar” will analyze over 250,000 tweets from the crypto sphere to give real-time insight into the community sentiment
  • Jack Ma, founder of Alibaba, said yesterday that Bitcoin is a bubble however, his team has been studying blockchain technology. He believes that if Bitcoin can really work, then the whole global trade and financial system would have to change and he currently does not believe the world is ready for such a change.
  • Blockstack, a decentralized web developer is creating a directory for its decentralized app (DApp) store that currently offers 150 Dapps built on Blockstack, Ethereum (ETH), EOS (EOS), IPFS and Steem. The directory will be offered to make accessing a library of Dapps much easier. Blockstack plans to allow users to add ratings to its platform over time which will enhance the app ecosystem

Quantamize Crypto Signals Active Return Outperformers

Cryptocurrency YTD Active Return* Accuracy Rates
Populous 96.92% 61.50%
Bitcoin Cash 93.21% 64.41%
NEO 86.87% 60.65%
Zcash  73.53% 61.04%
Stellar 65.13% 67.86%
Bitcoin 53.80% 62.75%