Market Analysis Report

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index has closed at 4,502.27 with a gain of 1% for the day.

See live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $8,274, representing a gain of 1% in the last 24 hours. With more than $650 M worth of BTC exchanged in the BTC/USD market, representing a 23.5% share of daily volume, second to the JPY at 60.6%.

Currently sitting at $367.74, the Ethereum price has risen 1% in the last 24 hours. Over $150M worth of Ether were exchanged in the past 24 hours on the ETH/USD pair which has a 35.6% market share of the daily trading volume.

See live charts here and here

Russia Will Never Consider Bitcoin Legalization, Says Minister

Recently, the Russian Minister of Communications said that the country will not consider the legalization of cryptocurrencies like Bitcoin. According to the state-owned news service TASS, Nikolai Nikiforov stated:

"Bitcoin is a foreign project for using blockchain technology, the Russian law will never consider Bitcoin as a legal entity in the jurisdiction of the Russian Federation."

Read more here

JPMorgan Potentially Getting Into Bitcoin Futures Trading

Despite Jamie Dimon's outspoken criticism on the viability of Bitcoin as an investment, JP Morgan Chase is considering providing access to the Chicago Mercantile Exchange’s (CME) Bitcoin futures trading through its futures platform, according to a Wall Street Journal report. The report reads:

"J.P. Morgan is considering whether to provide its clients access to CME's new bitcoin product through its futures-brokerage unit.”

Read more here

Philippines to Regulate Cryptocurrencies as Securities

Yesterday, the Philippines Securities and Exchange Commission (PhSEC) announced that the country is considering the application of the Securities Regulation Code on the regulation of cryptocurrencies. The PhSEC country’s Commissioner, Emilio Aquino, stated:

“The direction is for us to consider this so-called virtual currencies offerings as possible securities in which case we will apply the Securities Regulation Code.”

Read more here

Kraken CEO Apologizes For Site Issues

In a Reddit post on November 20, Kraken's CEO Jesse Powell apologized for the site’s issues, which he attributed to a record demand. After admitting that the platform has “seen better days”, he promised that the team is working hard to fix the current issues as soon as possible. Powell wrote:

“We certainly haven’t abandoned the exchange and we do care about making improvements. We had a nice roadmap for building our fancy new ship, which was blown up by the recent explosion of growth. Rather than be able to dedicate our efforts to the new platform, we’ve had to split efforts with water bailing and fire extinguishing.”

Read more here

Simple Token Hits 90% of Target

Simple Token -- the platform that enables mainstream companies to easily launch their own cryptocurrencies on a blockchain, announced that it has sold 90% of its target within the first week of its ICO.

The Simple Token sale is live now at https://sale.simpletoken.org and lasts until Dec 1st or when the hard cap of 240 million ST is reached.

1983 persons have participated in the token sale already.

Simple Token has taken a unique community-first approach to their token sale:

• ETH Price Bonuses: The project provided an across-the-board 15% bonus to all buyers in consideration of the recent run-up in ETH prices.
  
  
• ST Target: When a total of 100,000,000 ST have been sold, all purchasers will receive a 20% ST Target Bonus.
  
  
• ST Kicker: When a total of 120,000,000 ST have been sold, all purchasers will receive a 25% Kicker Bonus.
  
  
• ST Power: When a total of 180,000,000 ST have been sold, all purchasers will receive a 30% Power Bonus.

Simple Token is endorsed by Gil Penchina and Mark Bonchek, and featured in a recent AMA with Ian Balina.