The market is currently going through a period of relative stability, and this week’s projects are all engaged in a series of developments and announcements that should result in an increased amount of attention for each respective project.

Bitcoin (BTC)

Bitcoin (BTC) is regarded as the world’s first decentralized digital currency, and was created in 2009 by a mystical figure named Satoshi Nakamoto. Bitcoin is a deflationary currency whose issuance is capped at a total supply of 21 million coins. Bitcoin is the most popular cryptocurrency and is traded on various exchanges and is also used in peer to peer transactions.

Why Bitcoin?

The U.S. Securities and Exchange Commission is set to make a decision on the applications of nine Bitcoin exchange-traded funds (ETFs). The review period affects nine separate ETFs and includes a proposal submitted by ProShares in conjunction with the New York Stock Exchange (NYSE). The SEC has solicited “any party or other person” to file a statement in support or rejection of the proposed BTC ETFs by Nov. 5. In addition, the monthly CBOE XBT expiration date is set for November 14.

Genesis Vision (GVT)

Genesis Vision is a private trust management platform that brings together exchanges, brokers, traders and investors into a global, decentralized financial market.

Why Genesis Vision?

The team have announced that the Genesis Vision Trading Platform launch is scheduled for 30 October. In addition to live trading, the platform will also provide access to live Index funds, while integration with decentralized exchanges such as Idex and ForkDelta will also be possible. This should result in a natural increase in the amount of GVT being traded.

Ravencoin (RVN)

Ravencoin is an open source project founded by Bruce Fenton, board member of the Bitcoin Foundation and founder of the Satoshi Roundtable. It is a community-owned project designed for the tokenization and transfer of assets and includes a built-in asset layer and a fully asset-aware client, as well as features like built-in messaging for token issuers and the option to automatically distribute dividends.

Why Ravencoin?

RVN has been a solid performer over the last couple of weeks and has benefited from a recent listing on Binance. However, the imminent mainnet activation is set to take place on October 31 and traders are continuing to be active leading up to the event. It’s always necessary to be aware that alongside an increase in activity, there will be an inevitable price drop at some point once the mainnet is launched.

How did last week's coins perform?

The week proved to be tough going for the majority of projects and NEO fell by around 4% over the week and is currently trading at $16, while ONT fell by 7.5%, and is currently trading at $1.69. ICX also suffered as the market downturn saw the Korean blockchain project drop by 8.5% and ICX is currently trading at $0.63.

The market recorded an overall downtrend as it opened up at a valuation of $209B on Monday, and a late decline in value resulted in the total cap moving to around $207B on Sunday.