Market Analysis Report

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index has closed at 8,311.28 with a gain of 16.4% for the day.

See the live index here

Market Update

Last weekend, the Chicago Board Options Exchange (CBOE) began its first trading sessions. Since then, the introduction of Bitcoin-based derivatives injected a surge of positivity into the Bitcoin markets. Moreover, the price of CBOE’s futures products has been trading wildly starting off at the $15,000 mark and has reached an all-time high of $18,650.

At the time of writing, the Bitcoin price is sitting at $16,686, representing a loss of 1.2% in the last 24 hours. More than $2.2B worth of BTC were exchanged in the BTC/USD market, representing a 33% share of daily volume, second to the JPY at 43%.

Yesterday, UBS announced they will head an Ethereum-based Blockchain initiative along with Barclay’s, Credit Suisse, KBC, Swiss stock exchange SIX and Thomson Reuters.

Since then, the Ethereum price has started on a rally and has risen by 23% over the past 24 hours, achieving a new all-time high of $673. Currently, the Ethereum price is sitting on $652, with over $1.5B worth of Ether were exchanged in the past 24 hours on the ETH/USD pair which has a 34.4% market share of the daily trading volume.

See live charts here and here

EBay ‘Seriously Considering’ Adding Bitcoin Payments

Scott Cutler, senior vice president of eBay Americas, told Yahoo Finance that the e-commerce giant is holding serious discussions about becoming the highest-profile company to accept cryptocurrency payments. Cutler said:

“This is a trend that everybody is talking about, but sadly, at eBay, we don’t currently accept Bitcoin as a form of payment. We’re seriously considering it as cryptocurrencies become more of a mainstream payment instrument, but we’re not quite there yet.”

Read more here

Trump Signs Defense Bill Authorizing Blockchain Study

U.S. President Donald Trump has signed a $700 billion military spending bill that includes a mandate for a blockchain cybersecurity research study. The blockchain study, according to the latest version of the text, which was ultimately signed yesterday by Trump, reads:

"The blockchain study will constitute an assessment of efforts by foreign powers, extremist organizations, and criminal networks to utilize such technologies;...[and] an assessment of the use or planned use of such technologies by the Federal Government and critical infrastructure networks."

Read more here

OKEx Cryptocurrency Exchange Creates a Bitcoin Cash Market

Cryptocurrency exchange OKEx created the first Bitcoin Cash market, enabling users to trade tokens directly against BCH without using BTC or ETH as an intermediary.

The Hong Kong-based exchange made the announcement on the official website, revealing that users now have access to more than a dozen BCH trading pairs. The announcement reads:

"Dear Valued Customers, OKEx is the first ever exchange to list a BCH Market! As the transaction of digital assets involves extensive risks, you are reminded to assess your risk tolerance before participating in these trades. As always, OKEx will do all it takes to provide you with the best products and services."

Read more here

South Korean Government - Emergency Meeting to Discuss Bitcoin

The South Korean government held an emergency meeting to evaluate the state of the local cryptocurrency exchange market and trading of cryptocurrencies, according to Fortune. The South Korean central bank stated that the government plans to introduce various regulatory measures Today given the recent rise in demand for Bitcoin and other cryptocurrencies from the traditional finance sector. Tony Lyu, Co-founder and CEO of Korbit Exchange, stated:

“Word just spreads really fast in Korea. Once people are invested, they want everyone else to join the party. There’s been this huge, almost a community movement around this.”

Read more here

Recently Added:

BNK added to Ongoing ICO list