Is DeFi The Future of Crypto Finance? Some Big Industry Names Think So

The hot potato in the world of crypto at the moment is decentralized finance. Satoshi’s original notion of cutting out the bankers is now possible in this new world of digital assets and DeFi protocols. The industry is still embryonic but some of the bigger names in the world of crypto and finance are finally paying attention.
Crypto Wealth Management Built on ETH
By definition decentralized finance is a movement that leverages decentralized networks to transform old financial products into trustless and transparent protocols that run without intermediaries. In essence it is doing away with the banks and middlemen to allow people to manage their own wealth on autonomous networks governed by smart contracts.
DeFi is currently dominated by DAI which is a decentralized hard asset backed, dollar pegged stable coin.  DAI, and the MakerDAO platform uses margin trading to respond to changing market conditions while preserving its value against the major world currencies. Maker is a smart contract platform on the Ethereum blockchain that backs and stabilizes DAI through a series of dynamic feedback systems called Collateralized Debt Positions (CDPs).
By depositing ETH, people can borrow stable DAI to make other investments without risking the loss of ETH, which is what happened to most during the ICO boom. Essentially it is a crypto credit facility that can issue loans at certain interest rates. Stakers are also able to use it to generate interest while protecting their stake. Industry observer Alex Saunders noted that in a world of negative interest rates DeFi could be the answer …

Imagine #Defi Apps offering 10%pa in a world of negative interest rates. Accessing stocks, commodities & tokenised assets. Portfolios auto rebalance. Smart contracts allow custody & insurance. No middlemen taking fees. The future of wealth management is being built on #Ethereum. pic.twitter.com/Crcfm3OjhO
— Alex Saunders (@AlexSaundersAU) September 10, 2019

Maker is not the only DeFi platform out there but it is the most popular at the moment. Two others have recently be noticed by crypto exchange giant Coinbase which announced a new fund to invest in the fledgling industry.
Coinbase Invests in DeFi
In a company blog post yesterday, Coinbase stated that it aims to encourage growth in DeFi by channeling funds into the development of two protocols. To begin it will contribute 1 million of its own stablecoin, USDC, each to the development of the Compound and dYdX platforms.
Coinbase USDC Bootstrap Fund lead Nemil Dalal said that DeFi is a tiny portion of the world of banking and financial transactions, adding that the company is tracking growth in an effort to further fund its expansion.
Just last month Nasdaq announced that it was adding a decentralized finance index (DeFiX) to track the projects working in the field. It initially included Maker, Augur, Gnosis, 0x and two other obscure tokens but failed to include Ether which currently powers most of the industry.
Image from Shutterstock
The post Is DeFi The Future of Crypto Finance? Some Big Industry Names Think So appeared first on NewsBTC.
Source: New feedNewsBTC.com

WaykiChain Stablecoin WUSD: Dark Horse Being Visible to Tether, Maker, or the Others

Coinspeaker
WaykiChain Stablecoin WUSD: Dark Horse Being Visible to Tether, Maker, or the Others
WaykiChain will launch WUSD – the world’s first stablecoin at the bottom layer of public chain.
WaykiChain Stablecoin WUSD: Dark Horse Being Visible to Tether, Maker, or the Others

Continue reading at Coinspeaker
Source: CoinSpeaker

Maker [MKR]: Coinbase, Zeppelin solutions audit reveals bug in Maker’s voting contract

The firm behind Maker [MKR], and crypto-collateralized stablecoin DAI project, have disclosed a key issue with respect to its internal governance voting contract. Revealed in a Reddit post, the Maker Foundation stated that this finding will result in a “need to make a critical update.”
Following the second round of audits in partnership with cryptocurrency exchange Coinbase and Zeppelin Solutions, the “Critical Vulnerability,” as the Zeppelin blog termed it, was noticed. The blog stated that the issue was with respect to one of DAppHub’s library contracts which affect the MakerDAO system in production.
Zeppelin stated that the vulnerability was communicated to the Maker team privately and a “mitigation plan” had been formulated to address the same over the past few days. The blog quelled customer concerns stating,
“After reviewing the amended contract, we can confirm that the vulnerability has now been fixed. The security of the MKR token contract is not affected by our findings.”
Despite the reassuring tone of the Zeppelin blog post however, the Reddit thread advised MKR hodlers to transfer their coins out of the “old contract,” and back into their personal wallets as soon as possible. However, since this issue pertains to governance, if the hodler in question did not participate in the “voting portal,” no remedy is required.
The Maker post stated,
“Please note: This does NOT impact the security or stability of the MKR token, it is only relevant to those who are using the old voting contract.”
According to the voting section of the MakerDAO website, tokens amounting to 114,936 MKR or $63.32 million were staked in the stability fee voting proposal.
The Head of Community Development at Maker, rich_at_makerdao, added that the report addressing the entire issue will be released soon,
“A detailed post mortem will be provided after the transition period is over. We are targeting sometime next week.”
Given the upfront nature of both Maker and their respective audit partners in addressing this issue, the cryptocurrency community voiced their support for the prompt response. A Reddit user, CryptoOnly, stated,
“Its refreshing to see we are hopefully at a point where projects are taking security and auditing seriously, catching stuff like this and fixing it before a malicious actor exploits it.
Having lived through The DAO and similar it certainly wasn’t always this way, in the early days it seems security was an afterthought however we’ve all seen what the ramifications of that mindset is.”
The post Maker [MKR]: Coinbase, Zeppelin solutions audit reveals bug in Maker’s voting contract appeared first on AMBCrypto.
Source: AMB Crypto

Base of 700,000+ Professional Freelancers Moves to EOS Blockchain

Coinspeaker
Base of 700,000+ Professional Freelancers Moves to EOS Blockchain
Over 700,000 user accounts from a freelancing website Moonlightning will move to the EOS blockchain.
Base of 700,000+ Professional Freelancers Moves to EOS Blockchain

Continue reading at Coinspeaker
Source: CoinSpeaker

Crypto’s Chicken and Egg Problem

Coinspeaker
Crypto’s Chicken and Egg Problem
Vishesh Raisinghani, professional fintech writer and crypto enthusiast, takes a look at how crypto and blockchain newcomers could break through the stranglehold of key incumbents.
Crypto’s Chicken and Egg Problem

Continue reading at Coinspeaker
Source: CoinSpeaker

Coinbase Pro Lists Three New Tokens Including EOS

Coinspeaker
Coinbase Pro Lists Three New Tokens Including EOS
Coinbase has announced support for EOS, Augur (REP) and Maker (MKR) on its professional trading platform Coinbase Pro.
Coinbase Pro Lists Three New Tokens Including EOS

Continue reading at Coinspeaker
Source: CoinSpeaker

EOS, Maker [MKR], and Augur [REP] gain support from Coinbase with listing on Coinbase Pro

Coinbase, one of the United States’ leading cryptocurrency exchanges, announced the provision of trading services for more altcoins. This time, the exchange is opening its doors for three leading cryptocurrencies, namely EOS, Maker [MKR], and Augur [REP]. These would be available for trading on Coinbase Pro, and would be launched in four stages, transfer only, post-only, limit-only, and full trading.
The exchange announced,
“Trading of EOS and REP will soon be available in all jurisdictions supported by Coinbase Pro, with the exception of New York State. MKR will be available in all Coinbase Pro-supported jurisdictions outside the US. Additional regions may be added for each asset at a later date.”
The exchange will be launching EOS and Augur [REP] with Bitcoin [BTC], US Dollar [USD], and EUR trading pairs. These trading pairs will be supported in all US regions where Coinbase operates, except New York. Maker [MKR], on the contrary, will be paired with Circle Coin [USDC] and Bitcoin [BTC] and would be supported in all regions Coinbase operates in, outside the US.
Karma_z, a Redditor, said,

“This is excellent for Augur and Maker. People need to get over the EOS salt. If it’s as bad as you think it is let it die. Maker is one of the most impressive blockchain developments to date.”

JuicyPorkDumplings, another Redditor, said,

“Its going to be interesting what gets bought the most in the next bull run by people who aren’t informed.”

Notably, this is not the first time that Coinbase has announced its support for Maker. Last week, the exchange announced that its institutional clients would be participating in the governance of MakerDAO and Tezos, as the platform would be launching voting services in Q2 of this year.
The exchange had also stated that MakerDAO was one of the fastest growing projects based on Ethereum and that the platform’s stablecoin, DAI, was one of the most used stablecoins in light of over 200 projects integrating with the coin.
The post EOS, Maker [MKR], and Augur [REP] gain support from Coinbase with listing on Coinbase Pro appeared first on AMBCrypto.
Source: AMB Crypto

Coinbase Pro adds EOS (EOS), Augur (REP), and Maker (MKR) to its offering

Well, it’s a dream for the project to get their coins listed on prominent exchanges like Coinbase. And this seems to be coming true for EOS, Augur and Maker teams as these coins would soon find themselves trading on the world leading crypt exchange Coinbase Pro.
EOS, Augur, and Maker not to be rolled out in all jurisdictions.
According to the latest announcement made by Coinbase on its official medium channel, the exchange plans to list EOS (EOS), Augur (REP), and Maker (MKR) on its Pro platform. The announcement further states that trading of EOS and REP will soon be available in all jurisdictions supported by Coinbase Pro, with the exception of New York State. MKR will be available in all Coinbase Pro-supported jurisdictions outside the US. Additional regions may be added for each asset at a later date.
The announcement further states that
“After 12pm PT on Monday April 8, we will begin accepting inbound transfers of EOS (EOS), Augur (REP), and Maker (MKR) on Coinbase Pro. We will accept deposits for at least 12 hours prior to enabling trading.”
Once there will be sufficient liquidity for all these coins via initial deposits, the exchange will begin trading on the following order books

EOS-USD, EOS-EUR, EOS-BTC (all Coinbase-supported regions excluding NY)
REP-USD, REP-EUR, REP-BTC (all Coinbase-supported regions excluding NY)
MKR-BTC, MKR-USDC (all Coinbase-supported regions outside the US)

The exchange plans to add further order book on the later date. There will be four stages to the launch as states below

Transfer-only. After 12 pm PT on Monday, April 8, customers will be able to transfer EOS, REP, and MKR into their Coinbase Pro accounts. Customers will not yet be able to place orders and no orders will be filled on these order books. Order books will be in a transfer-only mode for at least 12 hours.
Post-only. In the second stage, customers can post limit orders but there will be no matches (completed orders). Order books will be in a post-only mode for a minimum of one minute.
Limit-only. In the third stage, limit orders will start matching but customers are unable to submit market orders. Order books will be in limit-only mode for a minimum of ten minutes.
Full trading. In the final stage, full trading services will be available, including limit, market, and stop orders.

It’s good to see that Coinbase is adding newer and newer coins for people to access it. Coinbase was long thrashed for not adding enough coins to increase its offering but it looks like the exchange is all set to turn it around. Definite happy news for its customers
Which would e the next set of coins that Coinbase would add to its offering? Do let us know your views on the same.
The post Coinbase Pro adds EOS (EOS), Augur (REP), and Maker (MKR) to its offering appeared first on Coingape.
Source: CoinGape

Coinbase Custody Launches Staking Support for Tezos

Coinspeaker
Coinbase Custody Launches Staking Support for Tezos
San Francisco-based cryptocurrency exchange Coinbase announced Friday an expansion of its custody business to help its clients squeeze more yield out of the assets stored on its platform. Tezos chosen as their first staking asset.
Coinbase Custody Launches Staking Support for Tezos

Continue reading at Coinspeaker
Source: CoinSpeaker

February Crypto Roundup: Maker, Binance Coin and EOS on Fire While Tron and XRP Lost Out

February has been a rare month of gains for crypto markets. It is only the third month markets have ended higher since the bear market began. Total market capitalization has been up trending during February following losses the previous month. Starting out at $113 billion crypto markets climbed 14% and ended the month at $129 billion. They reached a two month high of $144 billion on the 24th but this could not be sustained.
Total market cap, February 2019
Bitcoin’s chart for February mirrors that for total markets. BTC made 12.8% starting the month at $3,460 and ending a touch over $3,900. Bitcoin hit resistance at $4,200 which prevented any further breakouts. $3,650 and $3,850 have been key support zones for most of the month. Bitcoin registered the first green monthly candle since July.
February Crypto Winners
Ethereum had a great February surging 28% from $107 to $137 by the end of it. ETH reached a peak of $165 during the month with marks a recovery of almost 100% from its 2018 low in mid-December. The Constantinople hard fork which went through a couple of days ago did not impact prices at all.
EOS was on fire in February, powering from $2.32 to $3.55 in a 53 percent pump. It hit a high of $4.40 during the monthly peak but has since pulled back. The move was enough for EOS to take and hold fourth place by market cap.
Litecoin had an equally impressive month surging 46% from $31.70 to $46.40. LTC broke through the psychological $50 barrier briefly but could not hold it. Chances are that it will be back over that level again soon.
Bitcoin Cash made a 17% move during February as it climbed from $114 to $133 following the market wide rally. Binance Coin has been a beast for the past month pumping 67% from $6.26 to $10.47 almost recovering in entirety from the bear market.
Cardano made a rare move upwards during the month but only registering 13% taking ADA to $0.0435. Likewise with Monero which made 14% during February to take it close to $50 by month end. Iota recorded a gain of 12.5% during the month which took its price to $0.288.
Dash did much better with a surge of 24% from $68 to $85 during February. Maker was by far the top performer for the month with an epic surge of over 80% from $370 to $670 propelling it up the market cap charts to 16th spot. NEO also did well with a run of 31% taking it from $6.90 to over $9 by month end. Ethereum Classic was not so fortunate and only managed to gain 9% over the month ending it at $4.32.
February Crypto Losers
We are considering XRP to one of the losers in February as it ended the month at the same price it started, around $0.312. Even a long awaited Coinbase listing was not enough to boost the Ripple token and it remained behind Ethereum in third for most of the month.
Stellar is also in the losers group as it only scrambled a couple of percent starting and ending the month around $0.083. XLM has slide down the market cap chart and is in danger of dropping out of the top ten if losses continue.
One of January’s top altcoins, Tron, has not been able to replicate that performance in February as it slid 4.8% across the month ending it at $0.0238. Bitcoin SV was another under-performer in February with a gain of just 5% ending the month at $67. NEM was also weak in February as the Foundation downsized dramatically resulting in small gains of only 6%. Rounding out the top twenty is Zcash which also only made 6% to scrape it over $50 by the end of the month.
February has generally been a bumper month for most crypto assets with the majors gaining solid double digits. The long term picture however still shows crypto markets on the floor in the depths of winter. In summary February’s crypto winners were Maker, Binance Coin, EOS and Litecoin with Tron, XRP and Stellar the losers.
All figures from Coinmarketcap.com
Previous months: February 18 | March 18 | April 18 | May 18 | June 18 | July 18 | August 18 | September 18 | October 18 | November 18 | December 18 | January 19
The post February Crypto Roundup: Maker, Binance Coin and EOS on Fire While Tron and XRP Lost Out appeared first on NewsBTC.
Source: New feedNewsBTC.com

Binance Coin Controversy: Love it or Hate it BNB Keeps Climbing

As expected when a two day rally occurs on crypto markets there is the inevitable correction. Total market capitalization and daily volume has fallen back as day traders take profits and top performing crypto assets start to cool off and fall back. There are a couple however that are defying this much repeated market movement and continuing to climb at the moment.
Binance Coin Crushing the Competition
The crypto asset holding above the rest and continuing to surge at the time of writing is Binance Coin. In less than a week BNB has made and held an epic 30% climbing from less than $8.50 last week to $11 before dropping a little to today’s price just below it. On the day BNB is up 13.5% as it outshines every other altcoin in the top fifty.

Binance Coin: Which bear market?
New ATH while everybody else is scraping the bottom. Have to say I missed on this one, mostly because I was listening too much FUD. $BNB pic.twitter.com/eG5rEGzEWF
— johnyqi (@JohnyQi) February 19, 2019

Daily volume has surged from $80 million to over $134 million, most of that over the past 12 hours. With Binance being the top exchange it stands to reason that BNB would possibly act like a stablecoin when traders are taking profits. If their trades are taken in BNB pairs, its volume and price will increase when they’re pulling out of other coins, which is what has been happening over the past few hours. Some have tried to decipher the controversy surrounding BNB with lengthy tweets;

0/ There has been a lot of controversy and confusion around $BNB (Binance Coin) recently. This isn't unwarranted considering it doesn't look like traditional tokens/financial instruments. In this thread, I will attempt to elucidate
— Andrew Kang (@Rewkang) February 17, 2019

Not all are convinced about Binance Coin though with some observers calling it a ‘manipulated Ponzi scheme controlled by one man’ on twitter. Others are equally critical of BNB labeling it as a centralized security token;

Reminder that BNB is a centralized security token for an exchange that is actively breaking US laws. You also have to trust that binance is reporting their financials accurately.
BNB could become worthless without warning due to gov action, exit scam, fraud, or theft.
— Matt Odell (@matt_odell) February 13, 2019

Either way Binance Coin is one of today’s top performers and since the beginning of the year has made a staggering 83% gain.
Stellar Flips Tron Showing Small Gains
Stellar has been losing momentum for quite a while now as it slipped down the market cap charts. Today however it has regained a place, flipping Tron for eighth spot at the time of writing.

With a further 5% gained on the day XLM has reached $0.088 with a market cap of around $1.68 billion, enough to pass TRX which is currently on $1.65 billion as it loses 1.5% in the correction. Tron has enjoyed a lot of momentum recently and has been one of the top performing altcoins this year with a gain of over 30% since January first. Stellar on the other had has been in decline, losing 22% in the same period. Stellar has a strong dev team with a lot of project updates so the lack of momentum recently is a little perplexing.
Maker is the other crypto asset that has shown impressive gains in recent weeks, climbing a further 10% on the day and 23% since the same time last week.
Image from Shutterstock
The post Binance Coin Controversy: Love it or Hate it BNB Keeps Climbing appeared first on NewsBTC.
Source: New feedNewsBTC.com

Crypto Markets Hit Monthly High With $5 Billion Pump

Market Wrap
Crypto markets moving on Monday; Ethereum is surging, BCH and Maker going strong, Tron and NEO are weak.
Crypto markets are rallying this Monday morning as $5 billion gets pumped back in over the past 24 hours. The upward momentum began around nine hours ago and market capitalization has now surpassed $125 billion for the first time in a month.
Bitcoin climbed to an intraday high of $3,740 a few hours ago before pulling back a little. It has broken through previous resistance levels at $3,650 to hit a new monthly high. At the moment BTC is showing a daily gain of 2.2% as it trades at $3,720.
Ethereum is the clear winner in crypto land at the moment as it pumps 11% on the day to a high of $138. Hard fork fervor seems to be driving ETH prices as there is only ten days to go for the second attempt at Constantinople. XRP conversely is still weak, adding only 2% and falling back to widen the gap to $1.6 billion behind ETH.
The top ten is all green during Asian trading today with Bitcoin Cash making the most after Ether at 6%. EOS gaining 3% has not been enough to retake fourth from Litecoin which hasn’t done much. Binance Coin continues to climb with another 3% on the day, while TRX is weak with no gains.
Looking at the top twenty Maker continues its march with another 8% on the day taking MKR to $555. Cardano has made a rare pump of almost 4% and the rest are 2-3 percent higher on the day aside from NEO which has not moved.
The big fomo in the top one hundred is going to WAX at the moment which has surged 40%. Close behind it is Ark pumping 30% as it gets integrated into Exodus wallets. There are no big dumps going on right now but Aurora is at the bottom of the list dropping 3%. All altcoins are generally performing well today.

Total crypto market capitalization has expanded by $5 billion over the past few hours reaching a monthly high of $125 billion. Daily volume is also strong at $26 billion, its highest level in 2019. Ethereum is leading the rally right now as Bitcoin dominance drops to 52%.
Market Wrap is a section that takes a daily look at the top 20 cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals
The post Crypto Markets Hit Monthly High With $5 Billion Pump appeared first on NewsBTC.
Source: New feedNewsBTC.com

Crypto Market Wrap: Maker Moving as Markets Consolidate

Market Wrap
Crypto markets consolidating again; Binance Coin, Dash and Maker are moving, the rest slipping slowly.
As widely predicted the crypto market pump was just that as things are starting to dump again today. The movements have been minor but the majority are in the red at the moment as market capitalization slips back to $120 billion.
Bitcoin did not get close to $3,700 today so new resistance levels are forming lower again. Around $3,650 seems to be its stability point for the time being but dips are not being supported and Bitcoin could drop lower, it is currently down half a percent on the day.
Ethereum has held on to second place by not moving over the past 24 hours. Still trading at $120 ETH could get some momentum from the Constantinople hard fork which has been delayed until the end of the month. XRP has lost a little more ground today and the gap between the two is currently just over $200 million.
Most of the top ten are falling back during the Asian trading session today. Tron has dropped the most despite the BTT airdrop today as TRX loses 3.5%. Bitcoin Cash is not far behind with a 3% slide. Only Binance Coin is making progress today adding another 2.5% as it closes the gap on Stellar in ninth which has dumped another 2%.

There are two big movers in the top twenty at the moment. Dash and Maker have added a further 7% on the day trading at $83 and $495 respectively. The Maker dev fund was moved to a new multisig wallet two days ago which caused the CMC market cap spike and the flipping of ETC and NEM. NEO and Zcash have also added 3.5% each to their prices over the past 24 hours but IOTA and NEM continue to slide.
There are no major pumps occurring in the top one hundred at the time of writing. Huobi Token is the best performer adding 15% followed by MOAC with a 12% rise. Getting bashed is yesterday’s pump; Quant followed by Revain both shedding 10% in predictable dumps.
Total market capitalization has not really moved overnight and is still at $120 billion. No further gains for the big cap coins look likely so further consolidation is expected in this channel for the time being. Volume is still at $20 billion and markets are still 6% higher than they were this time last week.
Market Wrap is a section that takes a daily look at the top 20 cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals
The post Crypto Market Wrap: Maker Moving as Markets Consolidate appeared first on NewsBTC.
Source: New feedNewsBTC.com

Crypto Market Wrap: Bitcoin Cash Moving, Little Action Elsewhere

Market Wrap
Crypto markets have edged back a fraction, Bitcoin Cash makes a move, Maker and Waves climbing but little action elsewhere.
Crypto markets have woken up a little mid-week but gains are very slim and momentum has been limited. A tiny bounce has taken total market capitalization back over $120 billion but only just.
After a dump to $3,540 Bitcoin regained its strength and pushed back towards its support turned resistance level at $3,600. The move reflects just a 1% gain on the day and BTC has remained here for the time being as daily volume creeps back over $5 billion.
Ethereum has made 1.5% but it is still extremely weak trading below $120. The gap to XRP in second has fallen again and is now around $500 million as the Ripple token fails to register any gains today.

The top ten is all green during the Asian trading session with one altcoin leading the charge. Bitcoin Cash has made 7% on the day pushing its price back to $130. There doesn’t seem to be much driving momentum aside from seriously low prices for BCH. EOS is the second best performer in the top ten with a 4% gain, and Litecoin has made 2.5%. The rest are up a fraction keeping them in their positions for now.
Maker and Dash are leading the gains in the top twenty but they too are not very impressive with just 4.5 percent made each. The rest of the altcoins here have clawed back just 1 – 2 percent at the time of writing.
Some big fomo is going on with Loopring at the moment which has pumped 45% on the day. Ravencoin and Waves are also performing well in the top one hundred with gains of around 15% over the past 24 hours. Today’s dump is the wildly erratic Buggyra Coin wiping out most of yesterday’s gains as it loses 33%. Aurora is also having a bad day with a slide of almost 20% at the moment.
Total market capitalization has inched up just a percent over the past 24 hours taking it above $120 billion again. Gains are minimal and most cryptocurrencies are still looking extremely weak. The past seven days have been flat aside from a Saturday pump of $5 billion which predictably dumped again by Sunday evening. Since the same time last month crypto markets have lost 10% and are still firmly on the bottom.
Market Wrap is a section that takes a daily look at the top 20 cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
The post Crypto Market Wrap: Bitcoin Cash Moving, Little Action Elsewhere appeared first on NewsBTC.
Source: New feedNewsBTC.com

December Crypto Roundup: Markets Hit Lowest Level of The Year

Best recovery in crypto for the month; Ethereum, Tron, Iota and Maker, still falling were Stellar, Monero and Zcash.
The final month of 2018 saw cryptocurrency markets hit their lowest levels for the year. On December 15 crypto market capitalization had tumbled to $100 billion, down almost 88% from the peak in January. Since then it has recovered somewhat ending the month at the same level it began, around $130 billion which is still painfully low.

Despite these lows, November remains the worst month for crypto markets in 2018. Bitcoin lost 11% over the course of December starting at just over $4,000 and ending at around $3,850. BTC could not break resistance at $4,300 and plunged to a 2018 low of just below $3,200 in mid-December before recovering a little. Since its all-time high Bitcoin had lost 80% over the course of the year.
Ethereum has fared no better over the course of the year but did manage to recover 24% in December. After getting completely hammered the previous month ETH started out at $113 and ended the month at just below $140 following a dive to a yearly low of $85.
Ripple’s XRP held on to second spot but only just by the end of the month. It had recovered just 2% by month end where XRP traded at $0.369. There was much less volatility on XRP markets throughout December compared to other crypto assets.
Bitcoin Cash had some wild swings in December plunging to depths at $75 before recovering 190% to $220. It had lost a lot of those gains though and was down over 5% by month end trading at $163.
EOS managed to hold fifth spot but also lost out in December with a 7% decline to $2.63. Its low for the year came on the 8th when EOS hit $1.57, a marginal recovery has occurred but it still ended the month lower than it started. Stellar had a pretty dismal month in December with a 26% loss to end it at $0.117. The recovery from the low of $0.093 has been slow for XLM which has performed better than most in previous months.
Litecoin remained at around $32 at the end of December which is where it started so there was no gain or loss. LTC had recovered almost 40% from its 2018 low of $23 but things were not moving much by the end of the month.
Over 7% was lost by Bitcoin SV over the course of December when it fell from $95 down to $65 then back to $88 by the end of the month. Rounding out the top ten is Tron which made an impressive gain of 38% over the course of the month. TRX did not suffer the big dump on the 15th and has been steadily gaining over the course of December, ending it at $0.020.
Cardano failed to get back into the top ten despite gaining 7% over the month. Iota did even better with a 27% rise to end December at $0.366 but Monero had a miserable month dropping 17% to end it at $47.
Binance Coin fared better with a 20% gain in December to end it at $6.13. Dash dumped 13% and ended the month at $80 while Nem joined it with an equal loss. Ethereum Classic ended December 12% higher than it started, trading at $5.18. There was very little activity with Neo last month which remained at around $7.80. Maker made an impression on the top twenty with a 28% climb over the month to end it at $463. Finally there is Zcash joining the other privacy cryptos with a dump of 27% in December from $80 to $58.
Recovery was mixed for the top twenty cryptocurrencies in December. Looking back at 2018 all of them have been beat up and are close to their lowest levels for around 18 months.  The crypto winners for December were those that recovered the most which included Ethereum, Tron, Iota and Maker. The losers for the month were Stellar, Monero and Zcash.
All figures from Coinmarketcap.com
Previous months: February | March | April | May | June | July | August | September | October | November
The post December Crypto Roundup: Markets Hit Lowest Level of The Year appeared first on NewsBTC.
Source: New feedNewsBTC.com