Digital Assets Weekly: Feb 28th, 2020
Summary
Market Strategy:
- Crypto markets had a tough week as global risky assets sold off on coronavirus fears but crypto investors shouldn't panic.
Winners & Losers:
- Winner: Argon's Tim Draper investment may hold promise for future crypto legal governance.
- Loser: Ripple's illegal security lawsuit claims may mean potential upside isn't justified by regulatory risks.
Weekly Rant:
- Why the announcement "Startup Tokenizes $2.2B in Commercial Real Estate Through Polymath" makes me cringe.
Financing Activity:
- Copper.co raises an $8M Series A round to build out its London based crypto custodian platform.
Recent Research:
- Check out our recent report on the Bitcoin SV (BSV) Genesis protocol upgrade if you missed it.
Market Strategy
Bitcoin sold off nearly 10% on the week and brought most other crypto assets in to the red along with it. Among the 10 largest crypto assets, the biggest losers were BSV (-25%), XTZ (-20%) and LTC (-18%), while the best relative performers were BTC (-10%), ETH (-12), and EOS (-13%).
The risk off sentiment seen broadly across global markets is the most proximate cause for the move, as fears of the coronavirus spreading and causing an economic slowdown crushed the S&P 500 by 13% on t...
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