| July 29, 2019 | View in browser |
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Today's top reads
- Checking in on the 2017 ICO Class
- Bitcoin in August, what's ahead?
- Square's spot in crypto
- DEX platforms triple
This week's poll: Do you trade on a DEX?
Click to answer:
Yes!
Nope
Market update
| COIN | PRICE | 7-DAY |
| BTC | $10,484.50 | + 0.42% |
| ETH | $221.00 | - 1.83% |
| XRP | $0.323 | + 3.18% |
| LTC | $95.74 | + 7.43% |
| BCH | $316.44 | + 6.13% |
1. Checking in on the 2017 ICO Class
2017 was the year of the ICO. In that year, initial coin offerings flew off the shelves faster than ever before - eventually totaling almost $6.3 billion in funds raised. Even though 2018 ended up surpassing the previous year's funding within the first four months, investor activity abruptly came to a halt as the entire market turned sour.
Now, close to two years after the market's peak, here's how the ICO class of 2017 is fairing:
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2. Bitcoin in August, what's ahead?
History repeats itself. However, for bitcoin in August, there is no clear winner. In the cryptocurrency's short lifetime, the asset's price has dropped five times - about half. That leaves the average return this month a mere 3.11% - close to zero considering the asset's immense volatility.
But even though there isn't a clear year to year trend for the month of August itself, it could be a deciding factor for the rest of the year...
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SUBSCRIBE NOW 3. Square's spot in crypto
Square (SQ) continues to champion bitcoin - and it's showing. Since allowing its Cash App users to purchase bitcoin in August 2018, the company has grown its crypto community quarter over quarter - posting more than $65.5 million in bitcoin sales revenue in the first quarter.
While it's not Coinbase numbers, who has registered more than 8 million new users in the past 12 months, it's certainly giving the company's bottom line a boost - and its stock price. Since the start of the year, the price has grown about 43% from $57.20 to $81.80.
Earnings incoming: Now with second-quarter earnings expected this week Thursday, Square's bitcoin metrics will tell a bigger story...
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SUBSCRIBE NOW 4. DEX platforms triple
According to a new report from Totle, ethereum based exchanges, otherwise known as decentralized exchanges (DEX), saw $300 million worth of transactions take place in June. That's 300% higher than the $86 million recorded in January. It's not just increasing prices either, the actual transaction count doubled too from 240,000 to 426,000.
So what's happening? There are two things...
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SUBSCRIBE NOW 6. Ethereum bulls
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