Executive Summary
- The overall market was relatively flat this week (BTC L: $3733, H: $3939) | (ETH: L: $125.40, H:$140.86) | (XRP: L: $0.302677, H:$0.320833)
- Litecoin was this week’s top performer at +20%
- Tron partners with Tether to launch a TRC-20 based stablecoin.
- Hyperion releases Lightstreams investment update
Price News
Litecoin led the markets this week with a 20% surge upwards, settling at $57 and opening the door for a minor green wave in the other large-cap cryptocurrencies.
The rest of the market reaction was relatively muted, with Bitcoin moving slightly upwards to $3850, and Ethereum following at $135.
Altcoin price correlations with Bitcoin are reaching extremely high levels, with many large caps such as Ethereum and Bitcoin Cash seeing 1-month correlations in excess of 95%.
Despite the relatively flat price action, daily on-chain Bitcoin transactions are showing steady growth at over 350,000 per day, more than doubled from one year ago.
Development News
On the news front, Tron, currently the 10th largest cryptocurrency by market cap, has announced a strategic partnership with Tether to launch a TRC-20 based version of the stablecoin. The addition of a Tron-based stablecoin is intended to boost the Tron ecosystem of decentralized applications, as well as improve overall value storage and open up the network to institutional investors.
Hyperion News:
Hyperion has released its investment report on Lightstreams, detailing the latest product and technical developments. Lightstreams is a blockchain built for speed and privacy which creates an environment designed for dApp deployment and has announced that they will be launching their mainnet on 31 March 2019. Click here for the full report.
Kind regards,
Ryan Stützner, Hugo May & the Invictus Team
