![]() Investments in digital assets are speculative and volatile. High short-term performance of this strategy may not be repeated. Not intended to be a forecast of future events, a guarantee of future results or investment advice. MVIS is a wholly owned subsidiary of Van Eck Associates Corporation. Source: MarketVector Indexes GmbH (MVIS ®). Finally, the worst performing asset for the month was Litecoin (LTC), finishing up +24%, moving up from $121.61 to $150.60. Bitcoin (BTC), the largest digital asset by market cap, increased from $7,159.44 to $9,284.96, a comparatively modest increase of +30%. XRP (XRP) increased from $0.52 to $0.84, representing a gain of +63%. Ether (ETH) finished the month strong, up +66%, despite regulatory uncertainty around classification as a security. The bottom five digital assets in the MVDA10 also contributed positively to performance in April, albeit to a lesser extent. NEO was also added to the Cobinhood exchange. ![]() On April 14, they began traveling throughout Europe promoting their technology to potential clients, investors, and European regulators. NEO’s rise may mainly be attributed to the development team’s European tour. There has also been an uptick in BCH conferences and meetups held globally. TRX, like EOS, will also be moving off the Ethereum blockchain into its own main net on May 31 **.Īs most digital assets do, when afforded the opportunity, we believe ADA benefited from both its listing on a new exchange (Huobi) and the addition of trading pairs on the popular exchange, Binance.īCH’s performance may be attributed to general market sentiment, but also the anticipation of an upcoming hard fork 5on May 15. The TRX airdrop was made to investors holding greater than one Ether in their wallets and started on April 27. TRX, the second best performing digital asset in the MVDA10 during April, was propelled higher by the announcement of an airdrop and the launch of its own main net 4. Lastly, and to many the most important piece of EOS news, was the anticipated launch on June 3 of the EOS main net, signaling the end of its testing phase. On April 15, holders of EOS were also able to take advantage of an airdrop 2and were rewarded in the form of eosDAC tokens 3. In addition to this, EOS was listed on several significant exchanges, including Upcoin and Upbit. This news comes on the heels of similar partnerships announced by Block.one that seek to build upon the global community using EOS. The fund will make investments in Asia-focused projects that utilize the EOS blockchain. Toward the end of March, Block.one, the developer of EOS announced the creation of a joint venture fund, EOS Global. There were many exciting announcements about EOS that we believe collectively contributed to its sizeable gain over the month. Similarly, Goldman Sachs announced its opening of a cryptocurrency trading desk, and Bermuda (among other countries) is seeking to create a stabilizing framework to foster digital asset businesses *. Nasdaq announced it is open to starting a cryptocurrency exchange. From a general market perspective, many media sources speculated that large institutions are finally ready to enter the digital assets “ecosystem.” While the markets pondered possible institutional participation, France cut retail cryptocurrency tax rates (down from 45% to 19%). Rounding out the top five best performers was Neo (NEO) with a return of +67%, moving up from $51.36 to $85.82.įor the first time this year, in April, positive market news outweighed negative news, though persistent regulatory fears lingered. Cardano (ADA) jumped from $0.16 to $0.35, recording a gain of +122% and Bitcoin Cash (BCH) moved up from $709.36 to $1,385.32, gaining +95%. Tronix (TRX) also posted a large gain, increasing from $0.03 to $0.10 (+183%) and closing at its highest price since January. All digital assets comprising the MVDA10 rebounded from their March declines, led by EOS (EOS), which rallied during the month from $6.03 to $17.96 and posted a gain of +198%. The MVIS ® CryptoCompare Digital Assets 10 Index (MVDA10) posted its first positive monthly performance of 2018 (+62%) reversing much of its losses over the previous three months. During April 2018, Digital Assets 1 roared back into the public spotlight as bulls were finally rewarded.
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