Last week was kind of nerve wrecking when the continuous uptrend for the two major smartcoins was broken. This week there is a slight improvement again. And in my opinion that is one of the best indicators for BTS.
Diving into the numbers, it looks like this:
BItCNY
Market cap at 63,2 is up from 52 last week.
bitUSD
Market cap at 21,3 millions is a slight improvement from last weeks 21 millions
My take on it
The Chinese activity that this usecase is so dependent on once again takes the lead. Hedging before their new year, maybe? I don't know. I can only speculate. What is safe to say is that increased holdings soaks up more collateral and a creates less supply.
The prediction from Ronny Boesing (of open ledger) is that smartcoin usage will be a major driver for BTS growth. And he should know since the card (ocash) he is about to be launched quite soon. And I hope he is right. It is one of the main reasons why BTS caught my attention in the first place.
To increase it even further, a bitEUR marketplace might be a good idea? I've played with the thought for a while. And it would make sense. BitEUR has a less than 200 k cap, and increased focus could spur some extra growth.
Well. That was my thoughts on it this week.
Sources: all data and graphs from coinmarketcap. It might differ from other sources.