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TrustToken launched TrueAUD, Is Samsung Coin real, Mining Revenue Rose
DAILY
April 25  |  3 min read

Resurrection

BeQuant Analytics, a daily cryptocurrency market analysis contributor

The crypto market staged a bit of a pullback in what can be described as a healthy bout of profit taking, especially considering the recent upside traction. The “buy on dips” trend looks to be intact and the 6,500 USD price area remains the next target for Bitcoin (pre-Bitcoin Cash hard fork in November 2018). At the same time, further downward movement and a break below the $5,200 level may incentivize sellers to aim for the Bitcoin’s price of 4,800 USD.

Total value of coinbase block rewards and transaction fees paid to miners.

Interestingly, mining revenue, as measured by the total value of coinbase block rewards and transaction fees paid to miners (see graph above), has risen to its highest level since mid-November of last year, which is approximately when the contentious Bitcoin Cash hard fork split the cryptocurrency market into two opposing camps. On that note, blockchain technology firm Bitfury and Switzerland-based investment firm Final Frontier have jointly launched a regulated bitcoin mining fund. The fund will invest in turnkey assets consisting of mining sites with some of the “lowest electricity and operating costs globally,” as scouted and operated by Bitfury.

In other news, given the success of the JPM Coin, created by the financial giant that is JPMorgan, now it seems that the South Korean electronics giant Samsung is also set to follow a similar path and create a new asset dubbed Samsung Coin. According to reports, the tech group is set to develop a public-private blockchain complete with its own cryptocurrency token and based on Ethereum (ETH).

Elsewhere, according to new research from bitFlyer, 63% of Europeans are confident that crypto will still exist in 10 years. Norwegian respondents turned out to be the most optimistic about the future of crypto, with 73% thinking that crypto will exist. French respondents were the most pessimistic, with only 55% claiming that they believe in crypto in the long-term.

Finally, TrustToken has launched a new stablecoin and announced that they intend to launch another three more in the near future. The TrueAUD token is now live and backed 1:1 by the Australian dollar, users can purchase and redeem the stablecoin via its app at no cost. Going forward, two other tokens backed by Canadian dollars and Hong Kong dollars (TrueCAD and TrueHKD, respectively) are set to launch in Q2 and a euro version (TrueEuro) is due in Q3.

Thank you for reading,
The BeQuant’s Analytics team