Our Weekly Research report takes a look at current market conditions and key regulatory developments in the crypto world. Check out our ICO feature of the week on p.4. Let us know if you would like to receive these reports via email
Enigma Weekly 24/01/2019 - Grin and Bear it...Aliya Itzkowitz
What on earth is MimbleWimble? In this report, we talk about Grin and the MimbleWimble protocol. Also in this report: how KeplerK is making Bitcoin available across Paris.
CoinGecko 2018 Full Year Cryptocurrency ReportCoinGecko
This is the sixth cryptocurrency report produced by CoinGecko covering the full year of 2018.
In this report, we summarize and highlight the market dynamics in the cryptocurrency market such as:-
- Market capitalization growth, volume change, and price movement
- Cryptocurrency exchange ranking, volume & dominance
- Initial Coin Offerings (ICOs) trends
- Stablecoins trends
- Timeline of major events & regulatory updates
- Bitcoin Cash split
- Decentralized applications (dapps) trends
- Security Tokens insights
- Masternodes insights
- Non-Fungible Tokens trends
- and many more...
Download the full report here:
http://reports.coingecko.com/2018-report
View all of CoinGecko's historical quarterly reports here:
http://reports.coingecko.com/all-reports
This is the fourth cryptocurrency report produced by CoinGecko covering the second quarter of 2018.
In this report, we summarize and highlight the market dynamics in the cryptocurrency market such as:-
- Market cap growth, volume change, and price movement
- % change from All Time High
- Timeline of major events & regulatory updates
- Initial Coin Offerings (ICOs)
- Cryptocurrency exchange ranking, volume & dominance
- Twitter analysis
- Decentralized Applications (dApps) Trends
- and many more...
Download the full report here:
http://reports.coingecko.com/2018-q2-en
View all of CoinGecko's historical quarterly reports here:
http://reports.coingecko.com/all-reports
ICO Pitchnight #1 by Catena Capital & Herdius and friendsBalazs Deme
The first ICO Pitchnight organized by Catena Capital and Herdius. Advice and learnings on already having done an ICO by Bricklock, on having already done an ICO in Germany by Herdius and planning on one by KYC solution Fractal.
Enigma Weekly 24/01/2019 - Grin and Bear it...Aliya Itzkowitz
What on earth is MimbleWimble? In this report, we talk about Grin and the MimbleWimble protocol. Also in this report: how KeplerK is making Bitcoin available across Paris.
CoinGecko 2018 Full Year Cryptocurrency ReportCoinGecko
This is the sixth cryptocurrency report produced by CoinGecko covering the full year of 2018.
In this report, we summarize and highlight the market dynamics in the cryptocurrency market such as:-
- Market capitalization growth, volume change, and price movement
- Cryptocurrency exchange ranking, volume & dominance
- Initial Coin Offerings (ICOs) trends
- Stablecoins trends
- Timeline of major events & regulatory updates
- Bitcoin Cash split
- Decentralized applications (dapps) trends
- Security Tokens insights
- Masternodes insights
- Non-Fungible Tokens trends
- and many more...
Download the full report here:
http://reports.coingecko.com/2018-report
View all of CoinGecko's historical quarterly reports here:
http://reports.coingecko.com/all-reports
This is the fourth cryptocurrency report produced by CoinGecko covering the second quarter of 2018.
In this report, we summarize and highlight the market dynamics in the cryptocurrency market such as:-
- Market cap growth, volume change, and price movement
- % change from All Time High
- Timeline of major events & regulatory updates
- Initial Coin Offerings (ICOs)
- Cryptocurrency exchange ranking, volume & dominance
- Twitter analysis
- Decentralized Applications (dApps) Trends
- and many more...
Download the full report here:
http://reports.coingecko.com/2018-q2-en
View all of CoinGecko's historical quarterly reports here:
http://reports.coingecko.com/all-reports
ICO Pitchnight #1 by Catena Capital & Herdius and friendsBalazs Deme
The first ICO Pitchnight organized by Catena Capital and Herdius. Advice and learnings on already having done an ICO by Bricklock, on having already done an ICO in Germany by Herdius and planning on one by KYC solution Fractal.
In 8 years time cryptoeconomy will exceed 10 trillion dollars. Cryptobanks will become a cornerstone in the relations between decentralized economy and future daily life by expanding payment infrastructure and possibilities, making new cryptocurrency payments scenarios and lowering interest rates. Crypterium is a cryptobank creating such future, today.
Crypterium is aiming on provision of comprehensive vertical integrated services, considering collaboration with other cryptocurrency solutions and teams of blockchain enthusiasts.
Mobile Cryptobank
ICO Survival Guide: Everything you need to know about itStefan Chun Yin
What is an ICO and why are people investing in ICOs? How secure are ICO and how are they regulated? These slides provide an extensive beginner's guide in a Q&A format.
An overview of what is happening. Content: ICO market review, Tokens and products, Industry review of ICO campaigns, ICO geography, Post-ICO performance, Token sale structure. Source: ICOrating
Coin token ico really only have one utility — to act as simple stores of value with limited-to-no other functionality. By “simple” value, I mean value not represented or manifested through a variety of dynamic functions. Tokens are a completely different breed all together. They can store complex, multi-faceted levels of value. Forget everything you know about bitcoin and pre-mined coins and that entire ilk of tech, Ethereum tokens are generated by a Smart Contract System (SCS), are highly programmable and have multi-functionality because of it. They transcend being just a coin, and through their array of functions become something much more — “tokens”. Technically, they are not “offered”, they are “generated”. Probably the most accurate phrase of what’s going on during an Ethereum token launch is to describe it as a “Token Generation Event”, but I’m not sure TGE has the same flare as ICO. Nevertheless, a coin does one thing, and a token can do many things
1. WHAT IS ICOTRADE?
Is a team that is experienced in investing ICO Projects.
2. HOW TO JOIN ?
Siging up to be a member. --> Click: https://goo.gl/MbzBwu
Welcome to the LAC issue of iGB Affiliate! This is the time of year when we map out the opportunities for the 12 months ahead, in both established and emerging channels. From PPC to social video, from voice search optimisation to brand phrases, our expert contributors have it covered. Another essential read is our cover article on increasingly pervasive negative SEO tactics.
The same focus on actionable insights also informs the refreshed conference format at LAC, reorganised as themed tracks rather than by industry. This cross-fertilisation of ideas and bringing together of delegates working in the igaming and financial spaces reflects the real-world experience of today’s affiliate now working across multiple sectors, one of the many key findings of the inaugural iGB Affiliate Survey. Look out for the red speaker boxes at the end of articles for when and where to catch some of our expert contributors during the LAC conference.
The landscape of online gambling in China
How much do you know about fantasy eSports in China?
Where do you feel the biggest opportunity is to gain brand awareness in China for gaming business?
How would you get creative and leverage your past contacts/connections for ways to generate leads that then the gaming co. could then try to convert?
How would you send traffics to gaming website and estimated volume?
If you had 1M RMB to build an acquisition strategy, where would you spend the money? What would you hope to get at the end and how would you measure the ROI?
What you would like to contribute for quick-wins
Player Acquisition Through Effective Branding: GiGse 2014Income Access
This presentation was originally developed for the Global Interactive Gaming Summit and Expo (GiGse) 2014 and was presented in a panel on player acquisition by Nicky Senyard, CEO of Income Access Group.
GiGse 2014 Recap – Day Two
Day Two has come and gone – it’s hard to believe that we only have one more day left of GiGse! Yesterday was even more action-packed and successful than day one. The highlight was definitely the panel on player acquisition strategies through digital marketing techniques during which Nicky, our CEO, gave a presentation.
The main topics of discussion included the regulated market landscape in the US, marketing opportunities and hurdles, the effect of social gaming on real-money gaming (RMG), what else the US market offers, and what advice we can heed from the EU market.
Yesterday’s panel offered insights on how operators and affiliates should be approaching the US market. Of note was the important role that social gaming and other alternatives within the iGaming space, namely horse racing and fantasy sports, will play. The key, however, is to combine innovative digital marketing techniques to acquire customers and increase CRM.
Other interesting presentations included a talk by Frank Pracukowski of Foxwoods Interactive, who compared the story of Blockbuster and Netflix with the current reluctance of land based casinos to evolve within the digital space. Today there will be panels on lotteries, the legislative progress in California and a full slate of social gaming offerings at the Social Casino Summit - an exciting day all in all!
Blockchain investors have it really tough. Their management teams need to take some really "techy" cryptocurrency concepts and make them super-simple for stakeholders to understand.
We cut through the noise and helped our clients focus on what's most important: who benefits, how, and why? With a clear and cohesive story, this business showed its true colors - a crystal-clear value proposition.
An Investigator’s Guide to Blockchain, Bitcoin and Wallet TransactionsCase IQ
As Bitcoin and blockchains are coming into the mainstream, investigators, auditors and forensics and security professionals need to become familiar with how blockchain works and why it is so important to tomorrow’s digital security. It is important for anyone involved in forensics to understand the risk associated with Bitcoin, the most notable usage of blockchain and how applying forensics to those risks can have an impact.
Bitcoin has huge potential to revolutionize financial services, but with risk, as is implicit with any currency. We need to understand how forensic technology can reduce these risks or solve problems of financial loss should these risks materialize. Technology helps us follow flows of cryptocurrencies through wallets and the blockchain. This can be of particular use to regulators and police forces as well as investigators and auditors.
Join Simon Padgett and Sheldon Bennett of DMG Blockchain Solutions Inc. as they outline the basics of cryptocurrency transactions and their associated risks and solutions.
Crypto currencies - an investor's perspective Frank Schwab
Basic conditions of money, technologies, and user behavior changed significantly over the last decade. Investors should consider to integrate crypto currencies into their portfolio.
The presentation also provides 8 rules for crypto currency investments.
Crypto Currency Conference, Odessa, Ukraine
See the presentation on YouTube:
https://www.youtube.com/watch?v=dqpdmGnYXbA&t=51s&index=1&list=PLxXkZsSpEl41Cht5ZwDxLy5-2PL-AVcZD
Frank@FrankSchwabSpeaks.com
Enigma Weekly 24/10/2018 - Steady As She GoesAliya Itzkowitz
Our Weekly Research report takes a look at current market conditions and key regulatory developments in the crypto world. Check out our ICO feature of the week on p.4. Let us know if you would like to receive these reports via email
In 8 years time cryptoeconomy will exceed 10 trillion dollars. Cryptobanks will become a cornerstone in the relations between decentralized economy and future daily life by expanding payment infrastructure and possibilities, making new cryptocurrency payments scenarios and lowering interest rates. Crypterium is a cryptobank creating such future, today.
Crypterium is aiming on provision of comprehensive vertical integrated services, considering collaboration with other cryptocurrency solutions and teams of blockchain enthusiasts.
Mobile Cryptobank
ICO Survival Guide: Everything you need to know about itStefan Chun Yin
What is an ICO and why are people investing in ICOs? How secure are ICO and how are they regulated? These slides provide an extensive beginner's guide in a Q&A format.
An overview of what is happening. Content: ICO market review, Tokens and products, Industry review of ICO campaigns, ICO geography, Post-ICO performance, Token sale structure. Source: ICOrating
Coin token ico really only have one utility — to act as simple stores of value with limited-to-no other functionality. By “simple” value, I mean value not represented or manifested through a variety of dynamic functions. Tokens are a completely different breed all together. They can store complex, multi-faceted levels of value. Forget everything you know about bitcoin and pre-mined coins and that entire ilk of tech, Ethereum tokens are generated by a Smart Contract System (SCS), are highly programmable and have multi-functionality because of it. They transcend being just a coin, and through their array of functions become something much more — “tokens”. Technically, they are not “offered”, they are “generated”. Probably the most accurate phrase of what’s going on during an Ethereum token launch is to describe it as a “Token Generation Event”, but I’m not sure TGE has the same flare as ICO. Nevertheless, a coin does one thing, and a token can do many things
1. WHAT IS ICOTRADE?
Is a team that is experienced in investing ICO Projects.
2. HOW TO JOIN ?
Siging up to be a member. --> Click: https://goo.gl/MbzBwu
Welcome to the LAC issue of iGB Affiliate! This is the time of year when we map out the opportunities for the 12 months ahead, in both established and emerging channels. From PPC to social video, from voice search optimisation to brand phrases, our expert contributors have it covered. Another essential read is our cover article on increasingly pervasive negative SEO tactics.
The same focus on actionable insights also informs the refreshed conference format at LAC, reorganised as themed tracks rather than by industry. This cross-fertilisation of ideas and bringing together of delegates working in the igaming and financial spaces reflects the real-world experience of today’s affiliate now working across multiple sectors, one of the many key findings of the inaugural iGB Affiliate Survey. Look out for the red speaker boxes at the end of articles for when and where to catch some of our expert contributors during the LAC conference.
The landscape of online gambling in China
How much do you know about fantasy eSports in China?
Where do you feel the biggest opportunity is to gain brand awareness in China for gaming business?
How would you get creative and leverage your past contacts/connections for ways to generate leads that then the gaming co. could then try to convert?
How would you send traffics to gaming website and estimated volume?
If you had 1M RMB to build an acquisition strategy, where would you spend the money? What would you hope to get at the end and how would you measure the ROI?
What you would like to contribute for quick-wins
Player Acquisition Through Effective Branding: GiGse 2014Income Access
This presentation was originally developed for the Global Interactive Gaming Summit and Expo (GiGse) 2014 and was presented in a panel on player acquisition by Nicky Senyard, CEO of Income Access Group.
GiGse 2014 Recap – Day Two
Day Two has come and gone – it’s hard to believe that we only have one more day left of GiGse! Yesterday was even more action-packed and successful than day one. The highlight was definitely the panel on player acquisition strategies through digital marketing techniques during which Nicky, our CEO, gave a presentation.
The main topics of discussion included the regulated market landscape in the US, marketing opportunities and hurdles, the effect of social gaming on real-money gaming (RMG), what else the US market offers, and what advice we can heed from the EU market.
Yesterday’s panel offered insights on how operators and affiliates should be approaching the US market. Of note was the important role that social gaming and other alternatives within the iGaming space, namely horse racing and fantasy sports, will play. The key, however, is to combine innovative digital marketing techniques to acquire customers and increase CRM.
Other interesting presentations included a talk by Frank Pracukowski of Foxwoods Interactive, who compared the story of Blockbuster and Netflix with the current reluctance of land based casinos to evolve within the digital space. Today there will be panels on lotteries, the legislative progress in California and a full slate of social gaming offerings at the Social Casino Summit - an exciting day all in all!
Blockchain investors have it really tough. Their management teams need to take some really "techy" cryptocurrency concepts and make them super-simple for stakeholders to understand.
We cut through the noise and helped our clients focus on what's most important: who benefits, how, and why? With a clear and cohesive story, this business showed its true colors - a crystal-clear value proposition.
An Investigator’s Guide to Blockchain, Bitcoin and Wallet TransactionsCase IQ
As Bitcoin and blockchains are coming into the mainstream, investigators, auditors and forensics and security professionals need to become familiar with how blockchain works and why it is so important to tomorrow’s digital security. It is important for anyone involved in forensics to understand the risk associated with Bitcoin, the most notable usage of blockchain and how applying forensics to those risks can have an impact.
Bitcoin has huge potential to revolutionize financial services, but with risk, as is implicit with any currency. We need to understand how forensic technology can reduce these risks or solve problems of financial loss should these risks materialize. Technology helps us follow flows of cryptocurrencies through wallets and the blockchain. This can be of particular use to regulators and police forces as well as investigators and auditors.
Join Simon Padgett and Sheldon Bennett of DMG Blockchain Solutions Inc. as they outline the basics of cryptocurrency transactions and their associated risks and solutions.
Crypto currencies - an investor's perspective Frank Schwab
Basic conditions of money, technologies, and user behavior changed significantly over the last decade. Investors should consider to integrate crypto currencies into their portfolio.
The presentation also provides 8 rules for crypto currency investments.
Crypto Currency Conference, Odessa, Ukraine
See the presentation on YouTube:
https://www.youtube.com/watch?v=dqpdmGnYXbA&t=51s&index=1&list=PLxXkZsSpEl41Cht5ZwDxLy5-2PL-AVcZD
Frank@FrankSchwabSpeaks.com
Enigma Weekly 24/10/2018 - Steady As She GoesAliya Itzkowitz
Our Weekly Research report takes a look at current market conditions and key regulatory developments in the crypto world. Check out our ICO feature of the week on p.4. Let us know if you would like to receive these reports via email
Is crypto eating fintech?
Digital assets are fighting for their place alongside stocks, shares and other asset classes.
Digital assets are changing the ecosystem & infrastructure that has been built around buying,
trading and holding those assets.
Leading blockchain and Web 3.0 venture capital firm Outlier Ventures published the Q3 report in its State of Blockchains series, which provides an overview into blockchain investment and market trends worldwide. The report reveals a range of insights into the market
10 Most Popular Cryptocurrencies To Buy. The computerized resource industry has gone through an amendment period as of late – implying that numerous tokens are accessible to purchase at a markdown.
Crypto to Crypto Correlation and Cryptocurrency InvestingInvestingTips
Thus, there may be very little correlation between one stock and the next. So, why is there so much crypto to crypto correlation? How should you pursue crypto investments with this realization in mind?
https://youtu.be/lTQbtWIXjvM
Coin token ico, What are Token sales or Initial Coin Offerings? What are the risks or open questions? 10. unite.un.org/techevents. An example: Initial Coin Offering (ICO). 11. Much like an IPO, an ICO is an unregulated way to raise money for business purposes. The company creates digital tokens in cryptocurrencies.
_With thousands of differente cryptocurrencies how do you pick the right one...GustavoMeirelisRuiz
the choice of cryptocurrency is a decision that can be worth millions, and knowledge makes all the difference in this game! Get crucial information from the hands of experts, at the end of this article, learn about a project aimed at investors. success for you
Top 20 Cryptocurrencies Worth Checking Out In 2022.pdfCharles Sylvester
I'll Show You How to Make Huge Money with Totally Automated Crypto Trading Robots.
It Is a Completely Passive Money Making Method.
It is no problem if you are an absolute beginner (without any skill or experience). You will be able to understand it all and put it into practice, since everything is introduced in great detail!
What do you think of the upcoming year in cryptocurrency? This article talks about top 5 predictions for 2022, and some predictions that we can make by looking at what happened in 2022.
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...beulahfernandes8
Role in Financial System
NBFCs are critical in bridging the financial inclusion gap.
They provide specialized financial services that cater to segments often neglected by traditional banks.
Economic Impact
NBFCs contribute significantly to India's GDP.
They support sectors like micro, small, and medium enterprises (MSMEs), housing finance, and personal loans.
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
How to get verified on Coinbase Account?_.docxBuy bitget
t's important to note that buying verified Coinbase accounts is not recommended and may violate Coinbase's terms of service. Instead of searching to "buy verified Coinbase accounts," follow the proper steps to verify your own account to ensure compliance and security.
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
This assessment plan proposal is to outline a structured approach to evaluati...
Enigma Weekly 14/11/2018 - Winter is Coming
1. www.enigma-securities.io info@enigma-securities.io
DISCLAMER: The information contained in this note issued by Enigma Securities Limited is not intended to be advice nor a recommendation concerning cryptocurrency
investment nor an offer or solicitation to buy or sell any cryptocurrency or related financial instrument. While we provide this information in good faith it is not intended to
be relied upon by you and we accept no liability nor assume any responsibility for the consequences of any reliance that may be placed upon this note. Enigma Securities
Limited is an Appointed Representative of Makor Securities London Ltd which is authorized and regulated by the Financial Conduct Authority (625054).
7/8 Savile Row
London, W1S 3PE
U.K.
Tel: +44 207 290 5777
336 Rue Saint-Honoré
Paris, 75001
FRANCE
Tel: +33 1 42 33 02 05
Menachem Begin 11
Ramat Gan, 5268104
ISRAEL
Tel: +972 3 545 3777
14 November 2018
The Enigma Weekly
De-Coding Crypto
Our Market View
Winter is Coming…
The Goldman Sachs Stock Market Indicator is flashing red. Will a stock market collapse drive a rotation into crypto? As the
holiday countdown begins, and advent calendars are starting to appear in shop windows, it feels like the crypto community is
also counting down the days till some event. The question is: what? Binance CEO, Changpeng Zhao, recently summed up this
sentiment: "Even if I don’t know what will catalyse a bitcoin bull run, I am certain it will happen... Sooner or later, something will
trigger it." Like Zhao, we, at Enigma, continue to question what the catalyst will be that jolts the crypto market back into action.
Recently, on our weekly call, a member of the Coindesk advisory board remarked that crypto is an “oddly news-immune
market.” Indeed, this week, arguably, the only market-moving news is tomorrow’s Bitcoin Cash hard fork. BCH is up 3 percent
this morning. Meanwhile, regulatory developments, the biggest wild card, remain difficult to forecast. As the year is nearly over,
it seems that an ETF approval is more likely a 2019 event. Yet, from our perspective, the lack of volatility has not been an
entirely negative phenomenon. For example, the relative lack of price action has caused previously-wary institutional investors
to feel comfortable moving funds into crypto. The period of relative calm has acted as a convenient entry point. That said, it
does feel like we are at an intermission, and the second act of the show has yet to begin. Take your seats…
Performance Snapshot as of 9am GMT 14/11
Name Ticker Wk Close Wk Change YTD Change Record High Mkt Cap
Bitcoin BTC $6,369.080 -1.0% -54.9% $20,089.00 $110,460,270,504
Ethereum ETH $207.400 -5.3% -72.3% $1,432.88 $21,310,307,846
Ripple XRP $0.513 -4.0% -77.2% $3.84 $20,465,201,923
Bitcoin Cash BCH $526.680 -13.2% -79.2% $4,355.62 $9,082,004,891
Stellar XLM $0.254 -2.5% -29.5% $0.93 $4,814,597,207
EOS EOS $5.320 -7.2% -39.3% $22.89 $4,735,029,239
Litecoin LTC $50.050 -9.4% -78.2% $375.29 $2,959,227,927
Cardano ADA $0.073 -8.2% -89.5% $1.32 $1,895,371,097
Monero XMR $105.770 -6.2% -69.6% $495.84 $1,733,128,152
Tether USDT $0.971 -2.0% -3.9% $1.22 $1,677,339,136
TRON TRX $0.022 -8.4% -52.7% $0.30 $1,439,812,662
IOTA MIOTA $0.505 -0.6% -85.7% $5.96 $1,375,265,904
DASH DASH $161.910 -4.4% -84.6% $1,642.22 $1,353,104,518
Enigma Research
Lead Analyst: Aliya Itzkowitz
aitzkowitz@enigma-securities.io
2. www.enigma-securities.io info@enigma-securities.io
DISCLAMER: The information contained in this note issued by Enigma Securities Limited is not intended to be advice nor a recommendation concerning cryptocurrency
investment nor an offer or solicitation to buy or sell any cryptocurrency or related financial instrument. While we provide this information in good faith it is not intended to
be relied upon by you and we accept no liability nor assume any responsibility for the consequences of any reliance that may be placed upon this note. Enigma Securities
Limited is an Appointed Representative of Makor Securities London Ltd which is authorized and regulated by the Financial Conduct Authority (625054).
7/8 Savile Row
London, W1S 3PE
U.K.
Tel: +44 207 290 5777
336 Rue Saint-Honoré
Paris, 75001
FRANCE
Tel: +33 1 42 33 02 05
Menachem Begin 11
Ramat Gan, 5268104
ISRAEL
Tel: +972 3 545 3777
Chart of the Week
ICO Funds Raised
Despite the slowdown in the crypto market, ICOs are raising more money than ever. According to a new report by Ernst & Young,
nearly 22 billion has been raised by ICOs in the first half of this year. That represents an increase of over 15 billion dollars from
last year. This may come as a surprise given that 2018 has been a rather dismal year for the crypto market. Yet, while the price of
Bitcoin has plummeted since 2017, funding for ICO projects continues to skyrocket.
The amount raised by ICOs this year has already far outpaced 2017 levels
The surge in investment is particularly surprising since ICOs have been at the receiving end of a lot of bad press. Indeed, after a
series of scams and failed projects the word ICO has become a sort of ‘bad word’ in the crypto space. As Robleh Ali, a former
crypto specialist of the Bank of England puts it, “The problem with ICOs is that they’re called ICOs.”
As a result, over the last few months, it seems as though the STO (security token offering) is replacing the ICO. Through our
communications with the founding teams of several projects we get the sense that many entrepreneurs are considering re-
marketing themselves as STOs, rather than ICOs, in the hope of catering to this growing preference from investors. Stablecoins
are a “craze” right now, according to Coinjar co-founder. The surge in popularity of STOs is largely the result of investors fearing
the ‘pump and dump’ behaviour we saw from some ICOs in the past. Indeed, in the same report by Ernst & Young, it was revealed
that of all the projects launched in 2017, only 13 percent have thus far come out with a working product. There is a fear among
investors that they could be left with worthless ICO token a year later.
We, at Enigma, are committed to carefully screening projects for our clients, particularly since the quality of ICO projects varies
widely. Among the top three projects represented above are EOS, one of our top picks, and Petro, a currency we are sceptical
about. We have previously written about how we believe EOS could eventually rival the Ethereum blockchain, whereas, in a
previously weekly report we advised our clients to avoid Petro due to credibility issues.
Overall, we see the massive amount of funds raised through ICOs as a vote of confidence in a maturing market. We feel that the
silver lining of the scams of last year has been a ‘clean up’ in the market. We continue to be impressed by the quality of projects
we are seeing, and expect the funds raised to yield better results, particularly as the crypto market recovers.
3. www.enigma-securities.io info@enigma-securities.io
DISCLAMER: The information contained in this note issued by Enigma Securities Limited is not intended to be advice nor a recommendation concerning cryptocurrency
investment nor an offer or solicitation to buy or sell any cryptocurrency or related financial instrument. While we provide this information in good faith it is not intended to
be relied upon by you and we accept no liability nor assume any responsibility for the consequences of any reliance that may be placed upon this note. Enigma Securities
Limited is an Appointed Representative of Makor Securities London Ltd which is authorized and regulated by the Financial Conduct Authority (625054).
7/8 Savile Row
London, W1S 3PE
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Tel: +44 207 290 5777
336 Rue Saint-Honoré
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Currency of the Week
XLM
Blockchain, the bitcoin wallet company, is in the process of an unprecedented “air drop” of Stellar coins. The air drop will amount
to $125 million worth of Stellar. According to management, this is part of a desire to democratize cryptocurrency and speed up
mainstream adoption. “ XLM, enables quick, low cost, worldwide transactions, even when millions of people are using it at once,"
Blockchain CEO Peter Smith wrote in a blog post introducing the giveaway. Similarly, Stellar co-founder Jed McCaleb said, “We
believe that airdrops are central to creating a more inclusive digital economy. Giving away [coins] for free is an invitation to
communities to design the services they need.”
The simplicity of the project conveys this aim of making crypto more accessible. A banner on the air drop homepage reads, “Never
owned Crypto? Cool. We’ve never given away $125,000,000.” Those interested simply need to have a Blockchain wallet, and can
then submit their email to the waitlist in order to participate.
Up about 12 percent on the month, Stellar has now broken into the top five cryptocurrencies – overtaking EOS in the rankings.
Stellar’s backers say it is more technologically advanced and better suited to large-scale usage. We have made a similar argument
about EOS in the past. Indeed, Ethereum’s lack of scalability is its biggest weakness right now, and provides an opening to rivals
such as Stellar, and EOS that could provide faster, more reliable networks on their blockchains.
Initially, XLM was up about 7 percent on the news. However, the price has faltered as of late. Nevertheless, significantly, XLM/USD
broke the $0.28 resistance level and, at one point, neared the $0.2878 level last touched in September. This will be the next big
resistance level for Stellar.
Initially, news of the air drop sparked a rally in XLM. The $0.29 resistance level was tested.
4. www.enigma-securities.io info@enigma-securities.io
DISCLAMER: The information contained in this note issued by Enigma Securities Limited is not intended to be advice nor a recommendation concerning cryptocurrency
investment nor an offer or solicitation to buy or sell any cryptocurrency or related financial instrument. While we provide this information in good faith it is not intended to
be relied upon by you and we accept no liability nor assume any responsibility for the consequences of any reliance that may be placed upon this note. Enigma Securities
Limited is an Appointed Representative of Makor Securities London Ltd which is authorized and regulated by the Financial Conduct Authority (625054).
7/8 Savile Row
London, W1S 3PE
U.K.
Tel: +44 207 290 5777
336 Rue Saint-Honoré
Paris, 75001
FRANCE
Tel: +33 1 42 33 02 05
Menachem Begin 11
Ramat Gan, 5268104
ISRAEL
Tel: +972 3 545 3777
ICO of the Week
ACX
***Enigma Securities is pleased to announce exclusive allocations in several private sales*** If you would like more information
on our ICO allocations please contact our team – info@enigma-securities.io
The Proposal
Access (ACX) will be the first fully decentralized mobile banking network, powering financial services in Africa. Africa currently
lacks local and secure banking options, with millions of people unbanked. The mission of Access is to, as the name suggests,
give everyday people access to banking. There is tremendous white space for blockchain solution via cryptocurrency. Access
aims to set up the first crypto exchanges in Senegal and Ghana. They will do this with their partner, Atlas Money. Atlas currently
has a 500-strong human teller network and 30,000 users. User and deposit numbers have been growing 30 percent month over
month. Africa is global leader in mobile money with digital currency heavily in use. However, individuals rely on Telcos who are
unable to provide robust financial services. Access will harness smart contracts capabilities to provide superior and automated
banking services to Atlas clients. The easy-to-use Atlas App is currently live in the App Store. The various functionalities of the app
will drive user engagement and demand for the ACX token which will be the currency of this ecosystem.
Enigma Rating: BUY
Africa is a large, untapped market for cryptocurrency. Access will function as an ‘access’ point to this sought-after, high-growth
region. The Atlas business is already up and running and is developing very fast. Weekly user numbers are already outpacing
30,000. The roll-out of products in 2019, though ambitious, is realistic as it should be achieved through a variety of partnerships.
For example, Access is not building the exchange themselves. Instead, they will partner with Huobi which will accelerate the roll-
out process. Governments in both countries view cryptocurrency favourably and the team does not foresee any obstacles in getting
up and running on the ground.
The Team
Mickey Costa, Co-founder & CEO and his partner, James Shuler, spent two years working in Ghana building out the Atlas business.
They are familiar with the region and have many friends. Designated leaders for Ghana and Senegal have connections in their local
communities.
Noteworthy Partnerships
Barclays Africa is an official partner. Access will be partnering with crypto exchange Huobi to set up the exchanges in Ghana
and Sengal. They are currently in conversations with Makerdao about converting digital local fiat into a local Stablecoin.
Noetworthy advisors to the project include Bogolo Kenewendo, Minister of Investment & Trade in in Botswana. She is
passionate about the mission of Access and sits on several U.N. committees. Magatte Wadde, a successful entrepreneur from
Senegal, is also advising the project.
Transaction Details
The ACX token is a utility token on which the exchanges will function.
Initial token price: $0.0125 – this is a 50% discount
Hard cap: $15mm ($7mm raised so far, $7mm is target for private sale)
Interested investors may have the ability to purchase equity in Atlas.
Roadmap
Year-end 2018: End of Sale / 2019: Official launch of Access & Crypto Exchange, Launch of DA Development & Dapp, Local
stablecoins ***Details Subject to Change***
5. www.enigma-securities.io info@enigma-securities.io
DISCLAMER: The information contained in this note issued by Enigma Securities Limited is not intended to be advice nor a recommendation concerning cryptocurrency
investment nor an offer or solicitation to buy or sell any cryptocurrency or related financial instrument. While we provide this information in good faith it is not intended to
be relied upon by you and we accept no liability nor assume any responsibility for the consequences of any reliance that may be placed upon this note. Enigma Securities
Limited is an Appointed Representative of Makor Securities London Ltd which is authorized and regulated by the Financial Conduct Authority (625054).
7/8 Savile Row
London, W1S 3PE
U.K.
Tel: +44 207 290 5777
336 Rue Saint-Honoré
Paris, 75001
FRANCE
Tel: +33 1 42 33 02 05
Menachem Begin 11
Ramat Gan, 5268104
ISRAEL
Tel: +972 3 545 3777
Regulation Watch
In a first, the SEC has cracked down on an unregistered crypto trading platform: EtherDelta. The move is part of a pattern:
regulators are beginning to treat cryptocurrency like any other traded asset. Also, in the U.S., last week’s Midterm Elections saw
the election of several pro-Blockchain governors and congressmen. For example, Jared Polis, governor of Colorado, has promised
to make Colorado a “national hub for blockchain innovation.” The Congressional Blockchian Caucus – a bipartisan group of pro-
blockchain Congress representatives did well in the elections, with both co-chairs and 10 out of 12 members retaining their seats
in the election.
Elsewhere in the world, there were multiple reports that China might be lifting their ban on cryptocurrency last week. The story
gained a lot of traction but turned out to be unsubstantiated. As of now, the trading of cryptocurrencies in China remains banned.
Key Dates
November 15 – Bitcoin Cash hard fork
December 12 – Launch of Futures Contracts for trading on Bakkt
What We’re Reading
Binance CEO: Market Still in Good Position — Real Crypto Volume 2x Larger Than Reported Stats – In an interview on CNBC,
Binance CEO Changpeng Zhao stated that the crypto market and Binance are still in a good position even after nearly a year of
downward price movement. He stated that the volume of Binance is down nearly 90 percent since January due to the correction
and partially because of the high level of stability Bitcoin (BTC) has demonstrated over the past three months. “Compared to
January [of 2018], we are probably down 90 percent. So we only have one-tenth of the trading volume compared to what we
had in January. But, compared to like a year or two years ago, we’re still trading at huge volumes. Business is still okay, we are
still profitable, and we are still a very healthy business,” CZ said. CZ said he expects another bitcoin "bull run" to happen "sooner
or later."
SEC Charges EtherDelta Founder With Operating an Unregistered Exchange – The Securities and Exchange Commission
announced settled charges against Zachary Coburn, the founder of EtherDelta, a digital "token" trading platform. This is the
SEC's first enforcement action based on findings that such a platform operated as an unregistered national securities exchange.
According to the SEC's order, EtherDelta is an online platform for secondary market trading of ERC20 tokens. The order found
that Coburn caused EtherDelta to operate as an unregistered national securities exchangeWithout admitting or denying the
findings, Coburn consented to the order and agreed to pay $300,000 in disgorgement plus $13,000 in prejudgment interest and
a $75,000 penalty.
Bitcoin to $250K by 2023 Prediction is ‘Absolutely Solid,’ Says Tim Draper – Speaking during the giant Web Summit tech
conference in Lisbon which ended November 8, Draper, who is well known for his optimistic outlook on Bitcoin, in particular,
doubled down on his price forecast few others have dared rival. “I have a pretty good sense of what’s going on four, five, six ten
years from now because that’s my business – to meet with young entrepreneurs who are putting a future into my mind,” he told
a panel which also featured Blockchain CEO Peter Smith and Managing Capital co-founder Garry Tan. All three panelists, with
varying degrees of reluctance, meanwhile agreed that BTC/USD $6373.45 +0.26% should trade higher this time next year, Smith
additionally confirming he was still accumulating bitcoin.
6. www.enigma-securities.io info@enigma-securities.io
DISCLAMER: The information contained in this note issued by Enigma Securities Limited is not intended to be advice nor a recommendation concerning cryptocurrency
investment nor an offer or solicitation to buy or sell any cryptocurrency or related financial instrument. While we provide this information in good faith it is not intended to
be relied upon by you and we accept no liability nor assume any responsibility for the consequences of any reliance that may be placed upon this note. Enigma Securities
Limited is an Appointed Representative of Makor Securities London Ltd which is authorized and regulated by the Financial Conduct Authority (625054).
7/8 Savile Row
London, W1S 3PE
U.K.
Tel: +44 207 290 5777
336 Rue Saint-Honoré
Paris, 75001
FRANCE
Tel: +33 1 42 33 02 05
Menachem Begin 11
Ramat Gan, 5268104
ISRAEL
Tel: +972 3 545 3777
How Institutional Investors Are Changing The Cryptocurrency Market – It’s official: institutional players have entered the
crypto race. Bloomberg reported that large buyers such as hedge and endowments funds have been consistently purchasing
over $100,000,000 worth of digital coins through private transactions. Miners are now scheduling regular, over-the-counter
(OTC) coin sales. Some have even set up their own liquidity desks and operations to accommodate the estimated $250 million to
$30 billion in trades. Previously, large investors have stayed clear from the crypto-investing space due to high volatility of the
key currencies. As bitcoin and ether prices have seemed to reach certain equilibrium this year, more and more traditional
financial institutions have started diversifying their portfolios with crypto assets.
The Problem Bitcoin Solves – Modern financial history is littered with hyperinflation, defaults and currency devaluation. Bitcoin
could put an end to that, says Saifedean Ammous. Hyperinflation has occurred 57 times since the end of the first world war,
afflicting several billions of people. In every instance, it has been the type of money whose worth is supposedly protected by
men with guns that has become, well, worthless. Indeed, hyperinflation is a form of economic disaster unique to government-
created money. There was never an example of hyperinflation when economies operated a gold or silver standard.
Canada's Versa Bank to provide safety deposit box for crypto currencies – VersaBank is pleased to announce that its subsidiary,
VersaVault, has successfully completed beta testing for its previously announced digital safety deposit box and is initiating
commercialization of its services.The first phase of the rollout will be to provide digital safe keeping as well as multi signature
services for cryptocurrency exchanges and crypto based investment funds. The beta testing focused on designing a seamless,
efficient and timely experience for our clients, but one which maintained the unique features of the VersaVault; providing our
clients with the most technologically advanced digital and cyber-security solutions while maintaining their absolute privacy.
$20 Trillion US Debt Will Inevitably Lead to Big Crypto Boom: Prominent Investors – ShapeShift CEO Erik Voorhees has said that
the growing debt of the US, which hovers at around $21.7 trillion as of November, will inevitably cause a big spike in crypto.
“When the next global financial crisis occurs, and the world realizes organizations with $20 trillion in debt can’t possibly ever pay
it back and thus must print it instead, and thus fiat is doomed. Watch what happens to crypto.” Voorhees suggested that to
repay the national debt, the government and the federal reserve will be forced to print more fiat money, leading to inflation and
a decline in the purchasing power of the US dollar.
Cryptocurrency Market on Brink of 'Price Explosion' – Overstock CEO Patrick Byrne said that he still expects the mass adoption
of cryptocurrency, without specifying which one. Speaking to bitcoin enthusiast Naomi Brockwell on her YouTube channel, Mr
Byrne said he remained highly sceptical of the traditional financial system. When asked if he saw bitcoin becoming a worldwide
currency, he pointed to countries like Venezuela that have experienced significant financial turmoil in recent years. "When
people start getting into it is when their own financial systems collapse," he said. "Whether bitcoin is the one, whether bitcoin
has solved its speed problem, or it's another cryptocurrency, only time will tell."
Is 2019 the Year in Which Crypto Finally Gets Connected to the Global Financial System? – Looking at the state of the
blockchain in 2018, we have to ask ourselves - is crypto banking the unbanked or unbanking the banked? Following the
incredible bull run of 2017, which attracted unprecedented attention towards Bitcoin and other cryptocurrencies, 2018 was
marked by an equally forceful regulatory backlash. While Bitcoin remains legal in most OECD jurisdictions, the crypto market and
its participants are being increasingly penalized for using the digital assets of their choice.
Goldman Sachs Stock Market Indicator Goes ‘Flashing Red’ to Predict a Collapse as Bitcoin Speculators Look for a Boost – Two
matters are currently top of the discussions within the cryptocurrency community; the upcoming Bitcoin Cash hard fork and the
SEC’s impending decisions on Bitcoin ETFs. The approval of Bitcoin ETFs is expected to cause a massive influx of institutional
investors into the crypto market. According to a post on Bloomberg, the reluctance of large companies to delve into the crypto
space results from a lack of concern. However, this could change soon – the stock market is getting more unpredictable by the
day, whereas the price of Bitcoin is stabilizing. If this trend persists, institutional investors could turn into the more stable crypto
investments.
Until next week - thank you for reading.
Please reach out to info@enigma-securities.io with any questions.