Market Analysis Report

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index has closed at 4,413.06 with a gain of 0.39% for the day.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $7,084 representing a gain of 1.82% in the last 24 hours. More than $360 M worth of BTC were exchanged in the BTC/USD market representing a 20% share of the global daily volume. The BTC/JPY pair represents a 15% share.

The Ethereum price has risen 1.57% over the past 24 hours and is currently sitting at $409, with over $80 M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 10% market share of the daily trading volume.

See live charts here and here

Hacked Cryptocurrency Exchange Bithumb Reopens Deposits and Withdrawals

Last Saturday, cryptocurrency exchange Bithumb has reopened the deposits and withdrawals for 10 cryptocurrencies, following the hack that caused the loss of ~$30 million in cryptocurrencies. However, the company stated that the trading activities for the remaining cryptocurrencies will remain suspended due to security concerns. The company’s announcement reads (translated):

"Some cryptocurrencies with a significant price difference of about 10 percent between Bithumb market and standard market will be opted out for this customer's asset. When services return to normal, rapid changes in price are expected. Therefore resuming normal services for such cryptocurrencies will be put on hold for the time being."

Read more here

Coinbase Announces Ethereum Classic Support Is in Final Testing Phase

Cryptocurrency exchange Coinbase announced that it is conducting a final testing phase before adding support for Ethereum Classic (ETC) on its platform. According to the announcement, the company plans to finish the testing phase tomorrow, at which point it will start accepting inbound ETC transfers. Moreover, the company also disclosed that users who at the time of Ethereum’s hard fork had ETH on the platform but chose not to withdraw it will receive a corresponding amount of ETC on their accounts, as stated on their blog:

"Note that customers who previously had an Ethereum Classic balance on the platform as a result of the 2016 Ethereum hard fork and did not elect to withdraw their funds prior to January 2017 will receive a corresponding Ethereum Classic credit."

Read more here

Turkey Launches Its First Blockchain Research and Innovation Center

Last Friday, Turkey inaugurated its first blockchain center named Istanbul Blockchain and Innovation Center (BlockchainIST Center), on the Bahçeşehir University (BAU). Commenting on the center’s mission and objectives, the economics professor Bora Erdamar stated:

"The purpose of the BlockchainIST project is to be the most important center of research and development and innovation in Turkey in which scientific studies and publications are made in blockchain technologies. To this end, it is crucial to cooperate with other universities, the business world and government institutions."

Read more here

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