Hi Everyone,
We’ve got Tezos!!
Seems like a really cool blockchain. Like Libra, the Tezos company is headquartered in Switzerland. Unlike Libra their ICO in 2017 raised a record-breaking $232 million, though it was shrouded with controversy and plenty of drama.
The main focus of this unique blockchain is smart contracts and security token offerings, which is right in line with one of our goals in eToro to help tokenize all financial assets.
It does seem like they’re well on their way too. As recently as last month, Tezos partnered with Dalma Captial, one of Brazil’s largest banks, in a potential billion-dollar deal.
As far as price, it is one of the best performing cryptos this year with a total gain of 331% from January 1st until today. The token is also strongly positioned as one that will benefit greatly if we do see more crypto-friendly regulations in the United States.
Today’s Highlights
- Dow Plunge
- Yuan Devaluation
- Successful Half
Traditional Markets
More than Seven
Bitcoin Connection?
Some people have gone so far as to say that the rally we had in bitcoin is a direct result of the falling Yuan. Of course, this is one possible explanation, but so is Brexit for that matter.
The possibility of a no-deal Brexit could very well have people hedging themselves against the potential of another large leg down for the Pound Sterling.
Due to the anonymous nature of bitcoin, it’s extremely difficult to tell exactly where the demand is coming from. The supply factors of course, have not changed by much.
The supply side has however changed for Litecoin over the weekend, who has seen a very successful block reward halving event. There was a minor pop in the price of LTC around the event but it’s now back to where it’s been holding steady for the last few weeks.
All in all, Litecoin is up 333% since the mid-December lows, making the run up to the halving fairly significant. As we’ve been saying, these type of things have a tendency to get priced into the markets well before they occur and in this case we can see the production of new coins dropped in half and the price per coin has tripled.
Let’s have an awesome day!
Mati Greenspan
Senior Market Analyst
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