Stock Blockchain weekly update – December 14: Spanish bank BBVA used Blockchain to lend € 150 million to Porsche

Reality shares the Nasdaq Nexgen Economy ETF (BLCN), December 2018

Despite "What is Bitcoin?" At the top of Google search results in the United States and the United Kingdom in 2018, the BTC / USD continued the downward trend and reached a new low of $ 3,245. The major cryptocurrencies have lost market capitalization this week and Ripple has lost about 4.75%.

Few analysts have continued to reaffirm their bullish position on the bitcoin. Bloomberg reported on December 13 that Thomas Lee, research director of Fundstrat Global Advisors, put the fair value of the bitcoin at $ 150,000 per currency.

The central bank of Bahrain has issued a series of draft rules to regulate platform operators and crypto-asset exchanges in the country, Reuters said. "The rules also included measures to safeguard customer interests, technology standards and risk management for cybersecurity," said the central bank of Bahrain.

One of the largest Spanish banks, Banco Bilbao Vizcaya Argentaria, has closed a 150 million euro loan agreement with Porsche. "This transaction involves putting blockchain technology into a significant practice in our customer interactions, and our goal is to improve customer experience by streamlining processes and increasing execution speed," said Frank Hoefnagels, head of BBVA CIB in Germany.

Based on our research, we have found that the following blockchain stocks have demonstrated substantial price movements based on changes in their corporate fundamentals.

Digital Garage Inc

Digital Garage Inc (4819) based in Japan offers "new contexts" through the Internet by implementing three key technologies: Information Technology (IT), Marketing Technology (MT) and Financial Technology (FT).

In early November, the bitcoin infrastructure company Blockstream expanded its strategic partnership with Digital Garage Inc. The enthusiasm for blockchain and cryptocurrencies has grown in Japan at a rapid pace in recent years. Dr. Adam Back, CEO of Blockstream, commented that "the Japanese market is ready for new business models that blockchain technologies can enable".

We believe this multi-year technology partnership will be the source of new revenue potential for Digital Garage Inc.

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The share price of Digital Garage Inc. has remained bearish since July. In fact, from a technical point of view, the Alligator indicator shows a sharp decline in the market. However, support around 2643 prevented the price from diminishing further.

In recent days, the shares of Digital Garage Inc have become bullish after news of the new partnership with Blockstream. However, we believe that conservative investors should wait for the price to return above resistance close to 2913 before considering increasing their exposure to society.

Reality shares the Nasdaq Nexgen Economy ETF

Shared Realities Nasdaq Nexgen Economy ETF (BLCN) is one of the very few funds traded on the stock exchange that focus exclusively on publicly traded companies that commit material resources to develop, research, support, innovate using blockchain technology.

Earlier this week, news broke that Ahrens Investment Partners, LLC took a new position in the ETF during the third quarter of 2018. Ahrens Investment Partners LLC bought 14,455 shares of the Reality Shares Nasdaq Nexgen Economy ETF for about $ 342,000. Currently, the investment firm holds about 0.35% of the shares of the ETF.

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From the beginning of October, the price of the Reality Shares Nasdaq Nexgen Economy ETF remained bearish and fell below support close to $ 22.00 per share and formed a downtrend line.

While the amount of the purchase is rather small, the fact is that a major investment company has just committed itself to increasing its exposure to the actions of reality. The ETF Nasdaq Nexgen Economy will have a significant psychological impact on the market. Also, looking at the Commodity Channel index, we see that there is a small divergence between the CCI slope and the price slope of the ETF, which indicates a bullish thesis.

If we see that the Reality Shares Nasdaq Nexgen Economy quotations of the ETF will go beyond the downtrend line in the coming weeks, they will certainly attract further bullish momentum in the market. As a result, the price of the ETF could move upward to test resistance near $ 22.00 per share.

Bottom line

The bearish nature of the major cryptocurrencies has affected the broader enthusiasm of investors seeking to maximize the returns on investments in blockchain shares. Above all, the stocks of bitcoins and other cryptocurrency miners are taking hold in the market right now.

However, there are some confident analysts like Thomas Lee, who still believe that the bitcoin is enormously underestimated and will soon change gear. Meanwhile, the major investment companies appear to remain positive on the overall application of blockchain technology and are increasing their investments in blockchain and ETF securities.

We continue to argue that long-term investors in the sector remain positive and continue to seek value in companies that are seeking to change the industry landscape through the application of decentralized database solutions and the two resources we have discussed this week they are examples of such long-term growth opportunities.


The Blockchain shares have not been paid to mention any shares / companies within this article nor do we own shares in any of the companies mentioned in this article. More information on our complete disclosure can be found here – Full Disclaimer.

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