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NXT Market Report: 29 September 2014

Welcome to this week’s market report. Another calm week for NXT – total market capitalization has declined by 6.9% whereas Bitcoin’s total value decreased by 5.1%, meaning that NXT’s price has remained almost stable. On coinmarketcap.com we are now #6, after Dogecoin, which is still performing very well after the announcement of the merged mining with Litecoin. By contrast, Peercoin (currently at #7) has been taking quite a hit – NuBits not having measured up to market expectations.

NXT’s daily trading volume during last week averaged around USD 60’000, approximately half the trading volume of the week before. I don’t expect the volume to increase strongly in the next few days since there are no imminent announcements of big projects expected.

coinmarketcap 29092014source: coinmarketcap.com

News about the Multigateway

James announced that he will shut down his development server for the Multigateway by next weekend since the user support he is still having to provide is taking up too much of his time and therefore slowing him down completing the coding for SuperNET. Fortunately the production servers’ team reported that 2 of the 3 servers are ready and they are now only waiting for their new member coinomat.  According to Frohike all 3 servers should be up and running by next weekend:

The various wallets are set up on the first two members already some time ago. The triplet is now waiting for the third one but I have trust that they will deliver it and then we can start the processes and if necessary troubleshoot the setup. In the mean time I’m investigating the wallets, ports used, setting the permissions and so on.

If all goes well, the triplet is up and running next weekend. If things go wrong and we need to troubleshoot things, we will get all the help from James and eventually others who are able to help. We need to get things up and running.

Launch of Coin Market App

Coin Market App is available in Google Play as of today and NXT is included in the first seven supported coins. Coin Market App will give details of the crypto coins’ market capitalizations, trading volumes as well as real-time news. The app is the ideal way to keep track of your favorite coins!

What’s going on in the Asset Exchange?

NeoDICE: (NxtReporting) is the fair betting game which jl777 and hash created with the knowledge purchased from Come-from-Beyond about how to process unconfirmed transactions (for more information and links about this, read the 15 September Market Report).

The entire NeoDICE betting history is stored in the NXT blockchain to ensure the game’s fairness and every day the previous day’s secret, which is used to determine the winner of a gambling round, is published. The asset won’t be offered on the Asset Exchange through jl777, instead the distribution will be as follows:

  • 5% NXTventure dividend
  • 5% superNET dividend
  • 45% to developers and maintainers
  • 40% Privatebet
  • 5% JLH

Feel free to leave your feedback in the NXT Market Report thread – have a good read!

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.