Market Analysis Report

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index has closed at 10,373.14 with a loss of 5.41% for the day.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $15,535 representing a gain of 2.7% in the last 24 hours. More than $2B worth of BTC were exchanged in the BTC/USD market representing a 38.8% share of daily volume, followed by the BTC/JPY pair that represents a 33% share.

The Ethereum price has risen by 1.5% over the past 24 hours and is currently sitting at $739, with over $280M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 25% market share of the daily trading volume.

The Bitcoin Cash price has dropped 1.5% over the last 24 hours and is currently sitting at $2782. More than $150M worth of BCH were exchanged in the BTC/USD market, which has a 15% share of daily volume.

See live charts here, here and here

Japan’s MUFG Prepares to Secure Bitcoin Adopters

Japan’s largest financial group, MUFG, is preparing a service that will secure Bitcoin adopters’ holdings against any failure or losses suffered by the cryptocurrency exchanges they use.

Bitcoin traders will need to opt-in for the service while trading at exchanges, allowing Mitsubishi UFJ Trust to monitor their accounts. The trust bank will reportedly flag suspicious activity and examine pending transactions. The report explains:

“A late-night sale of a huge amount of Bitcoins, for instance, would get flagged for inspection instead of being processed immediately."

Read more here

Segwit2x Scheduled for December 28th

Last week, the Segwit 2x team indicated that they were planning to move forward with their proposed hard fork in the coming weeks. Now, Segwit 2x lead developer Jaap Terlouw has confirmed on the project’s website that the team will finally execute the fork on December 28th.

The project’s updated roadmap now lists December 28th as the set date for the fork, and in his recent announcement, Terlouw confirmed these developments:

“Our team will carry out the Bitcoin hard fork, which was planned for mid-November.”

Read more here

Major Korean Banks Drop Bitcoin Point Swap Services

South Korean banks are distancing themselves from Bitcoin following the government’s ”emergency” regulation which bans them from direct involvement in cryptocurrency-related activities. Shinhan Bank and KB Kookmin Bank have announced that they are discontinuing their points for Bitcoin exchange services in January. Shinhan Bank will discontinue its service on January 15 and KB Kookmin Bank on January 22. The news outlet explained:

"KB Kookmin Card and Shinhan Card points can be redeemed for bitcoins at cryptocurrency exchange Coinplug, which has partnership agreements with both banks."

Read more here