Market Analysis Report

17 April 2018

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index has closed at 5,574.94 with a loss of 3.83% for the day.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $8,165 representing a gain of 0.34% in the last 24 hours. More than $500 M worth of BTC were exchanged in the BTC/USD market representing a 17.5% share of the global daily volume. The BTC/JPY pair represents a 59.1% share.

The Ethereum price has risen 0.14% over the past 24 hours and is currently sitting at $515, with over $150 M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 28.1% market share of the daily trading volume.

See live charts here and here

Monex confirms Coincheck buy-out is already complete

Yesterday, Monex announced that the deal to buy the previously hacked Coincheck cryptocurrency exchange for around $34m has finally been concluded. Monex acquired 100% shares of Coincheck, Inc which was sanctioned by Japanese authorities earlier this year over a large-scale hack involving the NEM Foundation’s XEM crypto.

As stated in the press release dated April 6, 2018 (“About Monex Group Acquiring Shares of Coincheck, Inc.”), Coincheck has become a wholly owned subsidiary of the Company.

Read more here

Kraken Exchange Quits Japanese Market

Cryptocurrency exchange Kraken, decided to cease trading with clients based in Japan. According to Bloomberg, the exchange said that it will cease trading in Japan due to rising costs of doing business in the country. However, it will continue to offer its services to Japanese citizens and businesses who are domiciled outside of the country. The company said:

“Suspending services for Japan residents will allow us to better focus on our resources to improve in other geographical areas. This is a localized suspension of service that only affects residents of Japan and does not impact services for Japanese citizens or businesses domiciled outside of Japan.”

Read more here

Coinbase Buys in Largest-Ever Acquisition

Yesterday, cryptocurrency exchange Coinbase announced the acquisition of cryptocurrency startup The terms of the deal were not disclosed yet. Brian Armstrong, Coinbase CEO, stated:

"Today, I’m thrilled to announce that Coinbase has acquired, and as part of the acquisition, Earn’s co-founder and CEO, Balaji Srinivasan, will join Coinbase as the company’s first Chief Technology Officer (CTO)."

Read more here

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Press Release

State of the Crypto

Bitcoin is up 0.34% at $8,165.790 with a volume of Ƀ65.0k - $525.1M on the USD pairs.

Ether is down 0.13% against Bitcoin at Ƀ0.06326 per Ether and up 0.14% against the dollar to $515.25 with average volume Ƀ24.4k on the ETH/BTC pair.

Bitcoin Cash is up 1.87% to Ƀ0.09563 with volumes of Ƀ12.9k and up 2.72% against the dollar at $783.79.

Ripple is up 1.42% to Ƀ0.000083 with volumes of Ƀ7.7k and up 1.84% against the dollar at $0.6752.

Zcash is up 2.02% for the day to Ƀ0.02782 per ZEC and up 2.04% against the dollar to $230.09 with an average volume of Ƀ2.3k for the 24 hour period.

Litecoin is up 5.94% against the dollar for the day at $135.33 and up 5.33% to Ƀ0.01659 on volumes of Ƀ9.8k.

Dash is up 0.91% at Ƀ0.04543 with Ƀ3.5k volume and up 1.42% against the dollar at $374.97.

Iota is up 1.45% to Ƀ0.0002024 on Ƀ3.1k volume.

Ether Classic is up 1.31% to Ƀ0.002009 with volumes of Ƀ3.4k and up 1.68% against the dollar at $16.37.

Monero is up 1.66% against the dollar at $199.8 and up 1.25% against Bitcoin at Ƀ0.02427 on volumes of Ƀ1.8k.

Neo is up 0.71% for the day to Ƀ0.008384 per NEO and up 1.52% against the dollar to $68.59 with an average volume of Ƀ4.0k for the 24 hour period.

Waves is up 2.22% to Ƀ0.0005986 on Ƀ3.0k volume.

Stratis is up 2.19% to Ƀ0.0006125 on Ƀ653.361 volume.

Cardano is up 8.82% to Ƀ0.00003208 on Ƀ20.3k volume.

NEM is down 0.81% to Ƀ0.00004165 on Ƀ944.69 volume.

EOS is up 8.29% to Ƀ0.001084 on Ƀ11.9k volume.

Tron is up 1.17% to Ƀ0.0000052 on Ƀ16.3k volume.

Stellar is up 1.69% to Ƀ0.00003607 on Ƀ3.3k volume.

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