Caleb and Brown’s Top Cryptocurrencies of the Week - 8 Dec 2018
This weeks Top Cryptocurrencies of the Week is brought you to by Caleb and Brown an award-winning digital currency exchange registered with AUSTRAC. Founded in 2016 with a vision to become the conduit between cryptocurrency and the financial services industry. Caleb and Brown was named FinTech start-up of the year at the Stockbroker and Financial Advisors Association (SAFAA) conference 2018.
Week: 8th Dec 2018
1. Bitcoin Analysis
Bitcoin: $3853 (time of writing)
Last week, Bitcoin saw almost a 19% recovery since our weekly update, to test the resistance on the descending trend over the last 14 days. It appears steep short-term trend line have broken but bulls are struggling to keep levels above $4000. Market volatility likely to continue between a $4400 resistance and $3500 support. Short trader volume continues to climb, with Bitfinex margin volume leaning towards shorts by 37%.
2. Crypto in the News
This week crypto “in the news”is Tron (TRX). This week Tron (TRX) surged back into top 10 cryptocurrencies list overtaking Cardano (ADA) and Monero (XMR) on Coin Market Cap.
Tronover took Ethereum in Google searches, Daily Transactions and DApp users. This week also marks the launch of The Tron Accelerator Initiative. Aimed at empowering developers and bring about innovation in the blockchain industry, more specifically, using Tron’s third generation blockchain technology. Finally, the news emerged that Tron (TRX) will hit gigantic South-East Asia trading platform MBAex.
3. Caleb and Brown’s Most Traded Coin of the Week
Caleb and Brown has experienced strong buy action across the board. Apart from Bitcoin, our clients have shown increasing interest in DigiByte (DGB).
DigiByte (DGB) is a comparatively old community coin that emerged just prior to the 2014 bear market. The decentralised blockchainfocuses on cyber security, payments & secure communications. DGB claims to be the ‘fastest, longest, most decentralized & secure UTXO blockchain in the world’.
4. Best Performer of the Week
Waves (WAVES), a decentralised exchange platform for cryptocurrencies, is one of the few cryptocurrencies this week to see a positive price movement. The cryptocurrency experienced a 50% price increase throughout the past 7 days as trading activity increases steadily on their decentralised exchange.
Moreover, the project just announced an update for their WAVES mobile app which allows users to deposit, store, withdraw and trade their cryptocurrency directly via smartphone.
5. Caleb and Brown’s Pick of the Week
Bitcoin (BTC) still remains the pick of the week with a market dominance of 54%. Experts believe it will move up at the expense of altcoins.