NXT Market Report: 13 October 2014

Welcome to this week’s market report. To be honest, there aren’t that many new topics to write about. The last few days have been quite calm and unspectacular following the recent Bitcoin price crash. The market has recovered reasonably well since the last market report and we are now seeing the price up by 15.5% from its low, whereas during the same period NXT has lost another 2.2% in terms of market capitalization: the NXT/BTC price decreasing from 7500 satoshis to 6300. Unfortunately the trading volume hasn’t increased in line with expectations – during the week, daily volume averaged at USD 50’000 with a peak at USD 110’000 (10 October).

coinmarketcap 13102014source: coinmarketcap.com

NXT AE: the biggest decentralized Asset Exchange by far

Since its launch in Mid May, the NXT Asset Exchange has been proving its functionality day by day. 325 different assets are now listed on the exchange, of which several dozen are promising. Possible reasons for the Exchange’s popularity include the potential to earn dividends, the opportunity to acquire assets that increase in value and the ground-breaking nature of the idea itself.

The Nxt Asset Exchange is already by far the biggest one out there in the crypto world and is steadily growing; its average daily trading volume is equivalent to about USD 50’000 (source: mynxt.info). To date, the largest daily traded volume occurred on 6 September, the day the SuperNET ICO started, when an incredible 23.6m NXT worth of assets was traded, equivalent to about USD 560’000 at today’s rates. Neither the MasterXchange nor the Counterparty DEX have comparable figures.

What’s going on in the NXT Asset Exchange?

FunBot: The FunBotV1 trading bot has now been live for 2 weeks and so far has been working well. The dividends are paid exactly on time and the transparency is fine. The issuer has announced the creation of FunBotV2 within the next 6 weeks (see post #185). While FunBotV1 is a full automated trading bot which exploits arbitrage opportunities the FunBotV2 is a thinker using advanced technical analysis and therefore invests more for the long term. FunBotV2 will be tested over the next days and go live in the next 4 weeks.

Altcoinherald: Altcoinherald announced its IPO some time ago (2 September) and has already raised about 530’000 NXT for further development of their crypto news site. The asset is interesting because of the soon-to-be-paid first dividend (1 November), the qualification for which is owning the asset on October 15, 2014.

Based on this, we’re forecasting that our first dividend payment – issued every 2 weeks beginning November 1, 2014 – will roughly be around $555.00 – divided proportionally to all shareholders of record as of October 15, 2014. (source: nxtforum.org, post #69)

Calculated at today’s rates and with 530’000 sold shares that will be 0.04 NXT/share. That’s 4% per month or 48% per year – a so called dividend bonanza!

Thanks for reading and don’t forget to leave your feedback at nxtforum.org.

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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