The month of May has given us important news for the world of cryptocurrencies and for the perspectives of this market.
On May 17, Reuters announced (www.reuters.com/article/swiss-efranc) that the Swiss government is officially informing about everything you need to know to “print electronically” virtual francs guaranteed by the state’s deposits and the undisputed officiality that derives from its sovereign power as such.
Subsequently, Saturday 19 May was announced by Nasdaq that starting from next June there will be the first world trade of cryptocurrency powered by the important technology platform of this market (https://www.nasdaq.com/press-release)
Nasdaq will integrate the DX.exchange platform (https://dx.exchange/), which will represent a regulated cryptocurrency market and made available through specific App, IOS and Android.
In the first phase, it will be possible to trade only on Bitcoin, Bitcoin Cash, Ethereum and Litecoin. Subsequently, after the testing, the trading will be extended to the first twenty / twenty-five cryptocurrencies as well as some minor tokens. One of the main advantages will be the greater flexibility in the transition from fiat (http://www.wikipedia.org) to cryptocurrency and from this to fiat.
On May 24 Bloomberg (https://www.bloomberg.com/news) announced the opening of an investigation by the US Department of Justice on the possible manipulation of Bitcoin and other currencies prices by some traders. This event highlights one of the problems of this market and that is the information manipulation of transactions that together with the high volatility and the return to the fiat represent the weaknesses to be assessed.
History in any case advances. We are progressively getting closer to the officialization of a market that is already the fifth currency in the world (https://smallbusinessprices.co.uk/bitcoin-vs-currencies/) by default, given that the cryptocurrency phenomenon no longer involves only the “Historical” Bitcoin.
The cryptocurrencies that at the beginning of this year were 1414 passed after about five months to 1624 (https://coinmarketcap.com/all/views/all/) earlier this week to adapt today to 1636, if you know what I mean, we travel at a rate of over ten new crypts a week.
The Inch platform automatically analyzes the first 25 Cryptovalutes in the world by capitalization, as well as the relationships between Bitcoin and other major currencies. As of May 30th the first five cryptocurrencies by force expressed by the trend / momentum DSS are respectively in order of score: Bytecoin, Tron, EOS, Tether and Iota.