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Weekly Crypto Market Update – 4th March

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elcome to this week’s Crypto market update on The Daily Chain. We are collaborating with NKB Group – a full-service investment bank focused on blockchain technology. These updates will include the top news stories of the week, charts, data and more.

Market Momentum

Following a week of consolidation and several failed attempts to break through resistance, Bitcoin and all major cryptocurrencies plummeted as of Monday morning. Total market cap is down by $6bn to $126bn. Bitcoin has tried to break $3,900 resistance several times, but failed and currently sits at $3,750, representing almost a 4% loss from the previous weeks’ highs. The rest of the major cryptocurrencies have naturally followed the leader, where Ethereum is back below $130, down by 9%, and Ripple is closing the gap, with 0.6% gains. The rest of the top-20 market 24h losses are ranging from 4% – 6%. This week’s best performers among the top-30 assets were BAT (27.4%), Binance Coin (11.5%) and Litecoin (3,6%).

Best Performing Digital Assets (7 Days)

Worst Performing Digital Assets (7 Days)

Top News Stories of the Week

Bank Frick Launches Institutional Crypto Trading Platform
Liechtenstein-based Bank Frick will offer trading and offline storage of the top 5 cryptocurrencies to professional market participants and intermediaries.

Swiss Bank Julius Baer to Offer Digital Assets Services
Swiss-based private bank Julius Baer ($380bn AUM) has teamed up with SEBA Crypto AG to offer crypto services to its clients. The services are currently awaiting regulatory Approval.

Square Sold More Than $166 Worth of Bitcoin in 2018
Mobile payments app Square sold over $166m worth of Bitcoins in 2018, with $52.5m in Q4 alone.

Mizuho Bank to Launch Its Own Coin
Japanese Mizuho Bank is preparing to launch a digital currency, the J-coin Pay, via ajoint partnership between the bank and 60 other participants, with the main purpose ofreducing cash usage in Japanese society.

EOS Loses More than 2 Million Coins in Hack
Governance blockchain protocol EOS has lost 2.09m coins in the recent hack, where one of the 21 masternodes failed to update the EOS blacklist (bad actors list) in time with the rest of the nodes.

Ethereum Hard Forks Are Live
Constantinople and St. Petersburg hard forks occurred successfully at block height 7,280,000 last week, most notably the block size reward dropped from 3 ETH to 2 ETH.

Facebook In-talks with Exchanges to List Its Coin
Facebook has supposedly opened the conversation with several exchanges to list the fiat-backed token in the first half of 2019. The token will be integrated with WhatsApp and will help to create a digital payment network for the tech giant.

About NKB

NKB operates as a full-service investment bank focused on blockchain technology. They are a one-stop solution for clients – opening the new world of crypto assets and delivering it via the best practices of traditional finance.

NKB pride themselves on providing high quality investment research comment and analysis in the crypto space.  Their research is authorized and regulated by the FCA in the UK and led by professionals with several decades of investment research experience. Their technological capability in the crypto space is complemented by team members with experience from leading tech companies and deep understanding of the underlying technology.
Find out more about NKB here and follow on social media:

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NKB Group

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