Market Update 4.02.19 – Swiss Fintech Sector Growing, Traditional Banks Declining

| Publish date: 04/02/2019
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Swiss Fintech Sector Growing, Traditional Banks Declining

A new study published by SwissBanking on April 1 shows that the Fintech sector in Switzerland is growing, while traditional banks are stagnating. The report, called IFZ FinTech Study, was made by the Lucerne University of Applied Studies. Its aim was to show how the Fintech industry had developed in the country in 2018, as well as analyze how banks had positioned themselves against this new industry.

According to this report, the Fintech sector in Switzerland has seen tremendous growth in 2018, growing by a massive 62%. The sector also saw more significant venture capital transactions. On the other hand, the general financial sector in the country has reported a decline in the number of financial organizations and employees.

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BTC Price at a 4-Month High

On Tuesday, at 04.32 UTC, the price of the most valuable cryptocurrency in the world, Bitcoin shot up by 17% to trade at $4715 per token. The digital asset’s price shot up even further by 0.525 UTC, when it was trading at $4926 a token, a 19.17% increase over a 24-hour period.

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The cryptocurrency broke through 3 major resistance levels in just one day. The first, which was at $4,200, the second at $4,420 and the third one at $4,567. Bitcoin is not the only crypto that saw a significant input of liquidity in the markets. All the top ten cryptocurrencies by market value have gained significantly in the last 24 hours.

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China World Leader in Blockchain Projects

According to China.org.cn, China is the world leader in the number of Blockchain projects underway. The local news daily cited a report by Blockdata, which stated that China accounted for 263 Blockchain-based projects, which was a massive 25% of the global total.

According to Li Qilei, Blockchain platform development company Qulian Technology’s CTO, stated that the biggest user of this technology was the financial sector. Within this sector, brokers and banks were utilizing Blockchain technology, especially in asset securitization.

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Total Market Cap: Apr 02

The capitalization of the crypto market shot up by more than $14 billion in the last 24 hours and is now at $159.39 billion. Trading volumes are at $45.08 billion.

Bitcoin Price Analysis: Apr 02

Bitcoin’s price skyrocketed by 13.08% in the 24-hour period and is now trading at $4671.06. The capitalization of BTC is at $82.30 billion and the crypto is experiencing trading volumes of $13.41 billion.

Ethereum Price Analysis: Apr 02

In the last 24-hour period, the price of ETH has soared by 5.40% to trade at $150.02 per token. Its capitalization is currently at $15.82 billion and is facing trading volumes $5.79 billion.

State of the Top 10 Cryptocurrencies: Apr 02

In the last 24 hours, the ten most valuable cryptocurrencies have shot up in token price and capitalization. The most significant gains have been made by Bitcoin, whose price has jumped by 13.08%, the only crypto in the top ten list to see double digit percentage growth in token price. The other two cryptocurrencies to show significant single digit percentage gains are EOS and Litecoin, which have jumped by 8.34% and 8.25% respectively.

  • Bitcoin’s trading at $4671.06, shooting up 13.08%. Its valuation at this time is $82.30 billion.
  • Ethereum’s trading at $150.02, shooting up 5.40%. Its valuation at this time is $15.82 billion.
  • Ripple’s trading at $0.328048, shooting up 5.42%. Its valuation at this time is $13.68 billion.
  • EOS’s trading at $4.55, shooting up 8.34%. Its valuation at this time is $4.12 billion.
  • Litecoin’s trading at $65.76, shooting up 8.25%. Its valuation at this time is $4.02 billion.
  • Bitcoin Cash’s trading at $180.49, shooting up 6.98%. Its valuation at this time is $3.19 billion.
  • Binance Coin’s trading at $18.68, shooting up 7.45%. Its valuation at this time is $2.63 billion.
  • Stellar’s trading at $0.0116397, shooting up 6.76%. Its valuation at this time is $2.24 billion.
  • Tether’s trading at $1.02, gaining 1.73%. Its valuation at this time is $2.07 billion.
  • Cardano’s trading at $0.075784, shooting up 7.49%. Its valuation at this time is $1.96 billion.
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