Market Analysis Report

28 September 2017

Wire Transfer Problems Worsen for Digital Currency Exchange Bitfinex

Cryptocurrency exchange Bitfinex can't send wire transfers abroad due to its ongoing banking issues, representatives said today. Initially, a rep for the firm said, wire transfers denominated in CHF and HKD were going out – but then "the vast majority of these wires were rejected over the course of the last week".

Bitfinex said in a statement:

"We were advised by our banks that we would be able to process outbound wires in HKD and CHF, and while we were able to successfully process several such transactions, we are now being told that the moratorium is being extended to these currencies, as well. Domestic transfers in all currencies within Taiwan, however, are working with no problems or delays."

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IMF Holds Private Blockchain Focused Advisory Meeting

The IMF held its first high-level advisory meeting on Fintech with most of the focus being on blockchain technology. A number of senior-level executives, including Jeremy Allaire of Circle, Carolyn Wilkins, Deputy Governor of the Bank of Canada, Tao Zhang, former Deputy Governor of the People’s Bank of China (PBOC), Jill Carlson from Chain, and others, attended. According to IMF’s website, the focus was on discussing:

"How new technologies can disrupt the nature and provision of financial services and the implications that these changes may have for financial stability and regulation."

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Japanese City Starts Accepting Bitcoin Donations

Hirosaki, a city in Japan has started accepting Bitcoin donation in a first of its kind initiative by a public institution in the country. The news come a few weeks after about 260,000 stores in parts of Japan started accepting the digital currency as a payment method. CoinCheck, the Japanese Bitcoin company which cooperates with the local government on the initiative, quotes a government staff of Hirosaki as saying:

“We expect Bitcoin donation to be an effective approach to promote Hirosaki’s cherry blossoms and a castle especially to people living outside of Japan.”

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Georgia Records 100,000 Land Titles on Bitcoin Blockchain: BitFury

Valery Vavilov, CEO of BitFury said that since the launch in February 2017, when his company along with the government of the Republic of Georgia implemented the property registration on Blockchain had registered more than 100,000 documents. Tomicah Tillemann, Trust Accelerator co-founder and New America director of the Bretton Woods II program, commented on Georgia’s decision to use the Bitcoin Blockchain in a previous interview:

“If you think about this happening at a time when a lot of people are struggling to separate what’s real from what’s fake, this is a powerful tool to prove what’s real. Especially when you’re dealing with something as fundamental as your home or property, it’s important to have that added layer of security that’s provided by Blockchain validation.”

Read more here

State of the Crypto

Bitcoin is up 2.14% at $1,245.04 with a volume of Ƀ 57k - 72M on the USD pairs.

Litecoin is up 7.46% against the dollar for the day at $11.23 and up 5.07% to Ƀ 0.009032 on volumes of 14.9k BTC.

Ether is down 1.38% against Bitcoin at Ƀ 0.03945 per Ether and up 0.55% against the dollar to $49.15 with average volume 21k BTC on the ETH/BTC pair. 

Dash is down 2.74% at Ƀ 0.05744 with 6.1k BTC volume and down 1.31% against the dollar at $71.07.

Zcash is down 0.97% for the day to 0.05519 BTC per ZEC and up 0.57% against the dollar to $68.93 with an average volume of 3.2k BTC for the 24 hour period.

Monero is down 3.01% against the dollar at $20.27 and down 5.94% against Bitcoin at Ƀ 0.01615 on volumes of 4.8k BTC. 

Ether Classic is up 2.52% to Ƀ 0.002670 with volumes of 9k BTC and up 4.40% against the dollar at $3.32.

Waves is down 1.82% to Ƀ 0.0003785 on 189 BTC volume. 

Market risers
1 ORE +129.17%
2 EBH +63.55%
3 RICKS +58.48%
4 ZCL +47.67%
5 BIO +41.07%
Market losers
1 FAIR* -22.61%
2 CAN* -22.32%
3 PLAY -21.40%
4 WRC -21.01%
5 SWFTC -20.81%
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