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Weekly Crypto Recap: Bakkt Raises $182.5mm in Series A Funding

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Welcome to the 27th issue of the QUANTAMIZE WEEKLY CRYPTO RECAP, your weekly roundup of all the crypt
 

Quantamize

January 4 · Issue #27 · View online
Quantamize Cryptocurrency Weekly Recap

Welcome to the 27th issue of the QUANTAMIZE WEEKLY CRYPTO RECAP, your weekly roundup of all the crypto news you need to know. At Quantamize, we are seeking to level the playing field for individual investors with AI-powered Multi-Factor models across multiple asset classes, including Cryptocurrencies. If you have any feedback on this weekly report please send us a note at suggestions@quantamize.com.

Every day at Quantamize, we track the top stories that affect cryptocurrencies and the emerging blockchain ecosystem. At the end of the week, we review all the news to give you a clear picture of what was most important.


Quantamize Weekly Crypto Recap
Quantamize - Weekly Crypto Review
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The Week in Review
Cryptocurrency markets are poised to finish the 7-day week ending 1/04/2019 largely mixed as total cryptocurrency market capitalization is flat at roughly USD$130bn. Bitcoin (BTC) traded slightly higher this week, up 0.09% since last Friday to about USD$3,790. Ethereum (ETH) led the broad cryptocurrency market in gains this week, up 18% since last Friday to USD$150 – with its rally this week, ETH surpassed Ripple (XRP) in market capitalization to retake its position as the industry’s largest altcoin. Bitcoin Cash (BCH) and Bitcoin SV (BSV) lagged major coins in this week’s trading, both down about 3% to USD$155 and USD$88, respectively. 
 
This week of cryptocurrency news is headlined by DX Exchange, who announced that it will begin to offer tokenized stock trading on the Ethereum Blockchain next week. DX Exchange is the first company to offer such trading in a fully regulated environment. DX Exchange will leverage Nasdaq’s Financial Information Exchange (FIX) protocol to enable the tokenized trading of various major companies, including Alphabet (GOOGL), Facebook (FB), and Amazon (AMZN).  

Also this week in cryptocurrency news, Bakkt, a highly anticipated digital assets platform venture launched by the owner and operator of the New York Stock exchange, announced that it secured USD$182.5mm in Series A funding. Notable companies like Microsoft, Galaxy Digital, and Pantera Capital were among the largest participants in the funding round. Additionally, Bakkt detailed in the announcement that it is currently awaiting regulatory approval in order to proceed with its official launch.  

Rounding out this week of cryptocurrency news is a Bloomberg report that highlights crypto lenders as one of the few industry members to weather the recent bear market. Despite the downturn of crypto prices in 2018, cryptocurrency lenders observed strong demand both from investors who did not want to sell their virtual coins at depressed prices and from investors eager to borrow coins for short selling. The Bloomberg report singles out BlockFi, a cryptocurrency lender that has grown tenfold since receiving a USD$52mm investment in June 2018 from Mike Novogratz’s Galaxy Digital.

Of the 30 cryptocurrencies we model using AI and Machine Learning, 15 are positive for the week. Currently, 6 cryptocurrencies modeled by our Machine Learning algorithms are rated as “Buy”. All of these models have accuracy scores above 60%!

If you’re a cryptocurrency trader, Quantamize’s AI Machine Learning 3-Day Crypto Trading Signals were updated twice this week, most recently today. We model 30 cryptocurrencies and produce directional “Buy”/“Do Not Own” trading signals that help cryptocurrency traders navigate the crypto markets over the short term. You can find a screenshot of our Crypto Signals below. A few highlights include:

  • Bitcoin (BTC) –Do Not Own with an accuracy rate of 63.73%
  • Bitcoin Cash (BCH) – Do Not Own with an accuracy rate of 67.97%
  • EOS (EOS) - Do Not Own with an accuracy rate of 61.93%
  • Ethereum (ETH) – Do Not Own with an accuracy rate of 62.81%
  • Ethereum Classic - Do Not Own with an accuracy rate of 66.06%
  • Litecoin (LTC) – Do Not Own with an accuracy rate of 65.64%
  • Ripple (XRP) – Do Not Own with an accuracy rate of 63.71%

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Quantamize weekly crypto headlines recap
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Where is Cryptocurrency Headed in 2019?
Bitcoin Will Outperform Almost Every Altcoin in 2019!
🚀BULLISH Signs on Bitcoin (BTC) & Ethereum (ETH)?!
Bitcoin Babushkas: Cryptocurrency Mining in Siberia
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