NXT Market Report: 11 August 2014

Market Cap

Welcome to my second market report. First, let’s have a look at today’s market capitalizations. Since the last report Nxt has decreased in price by 14.35% on a steady volume of around USD 100’000. In the past few hours the volume reached a peak of USD 170’000 – a possible explanation is the release of the NRS v1.2.3 in which the Digital Goods Store is included. We are looking forward to block 213’000 when the release is scheduled to take place!

coinmarketcap 110814Source: coinmarketcap.com

Lee’s resignation from TXTCoinsNow

In my last market report I wrote about the outstanding progress being made by TXTCoinsNow . Unfortunately, since then (on 4th August), Lee Gibson Grant had to announce his termination of service with TXTCoinsNow – see the full announcement here. It became apparent that Lee had issued the TXTCoinsNow asset without the prior knowledge or approval of TXTCoinsNow’s CEO Thomas Mahoney and therefore the asset did not in fact constitute ownership of any share of the company. Furthermore the capital raised through the asset issuance was mainly used by Lee to promote Nxt at conferences or similiar events and only a small amount was paid to Thomas Mahoney and TXTCoinsNow. Notwithstanding this unfortunate incident Lee deserves a lot of praise for his energy, enterprise and commitment to NXT and, looking to the future, I am sure that having learned an important lesson, Lee will continue making a valuable contribution to the ongoing development and widespread adoption of NXT.

For an update on some of the latest developments in NXT as well as an interview with Thomas Mahoney (starting at 9:30 mins) watch the NXT Community & Development Update #16. 


Troubles at bter followed by a price drop

Last Saturday, (9th August) Bter had issues with its order book. Different people reported that there weren’t any buy orders displayed or even that there were empty order books on both sides. As a consequence the trading moved from Bter especially to Cryptsy with a hit in price down to about 6000 satoshis. This was probably the result of would-be-Bter sellers who switched to Cryptsy and other exchanges with far lower trading volume. As soon as Bter was back to running normally the price corrected but not as much as on the other exchanges. The net result was a hit in price of 6 to 7%.

What’s going on in the Asset Exchange?

Coinomat1: The second asset of coinomat is still paying its weekly dividend as well as continuously increasing their average daily revenue of transactions fees. Please note that yesterday (10th August) sharkfund0, an investment fund managed by jl777, invested over 520k Nxt in this asset. You can follow sharkfund0’s investments here.

MPFiatGate: On the 26th of July 2014, the MPFiatGate asset was issued – see their announcement thread for all details. The IPO represents 10% of the company’s net profit, therefore 10% of the monthly net profit will be distributed among the investors. The dividends are paid at the end of the month – the July dividend was 8.3% which equals a ROI of 100%!

That’s it for another week! We are looking forward to your feedback and suggestions!

This market report is for general information and news purposes only. It does not take into account the reader’s personal circumstances, objectives or attitude towards risk. It is not (and is not intended to be) any form of advice, recommendation, representation, or endorsement by the author or the web site owner and should not be relied upon when making (or refraining from making) any investment decision.

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