Market Analysis Report

10 August 2018

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index has closed at 3,888.11 with a gain of 3.63% for the day.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $6,469 representing a gain of 2.43% in the last 24 hours. More than $550 worth of BTC were exchanged in the BTC/USD market representing a 13.9% share of the global daily volume. The BTC/JPY pair represents a 6.8% share.

The Ethereum price has risen 0.3% over the past 24 hours and is currently sitting at $361, with over $130 M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 15% market share of the daily trading volume.

For a detailed market analysis click here

Binance Offers First Look At Planned Decentralized Crypto Exchange

Yesterday, cryptocurrency exchange Binance unveiled the platform's first look at its upcoming decentralized exchange (DEX). The company announced back in March that it plans to launch a new public blockchain for the purposes of developing the Binance Chain, a platform to transfer and trade different cryptocurrencies without a centralized operator. Binance's CEO, Changpeng Zhao, explained:

"Today, I have something really exciting to share with you guys. This will be the first demo for the Binance Decentralized Exchange, the Binance Chain. There's still a ton of work to be done to turn it into a final product. The team's working on it very aggressively. Nevertheless, this is a major milestone for Binance Chain."

Read more here

ShapeShift Acquires Bitfract (Which Lets You Trade a Bitcoin for Multiple Altcoins in a Single Transaction)

Last Wednesday, cryptocurrency exchange ShapeShift announced that it had acquired Texas-based startup Bitfract, which has developed a tool that lets you trade a Bitcoin for multiple altcoins in one simple transaction. Erik Voorheefounder and CEO of ShapeShift, explained why his company had decided to acquire Bitfract:

“The Bitfract team made expert use of ShapeShift’s open API to build a product that we ourselves were planning to build. This demonstrated a great alignment of strategy and thinking, and their execution was so exceptional that we wanted to bring their talented team and technology on board.”

Read more here

Microsoft Launches Proof-of-Authority Algorithm for Ethereum on Azure

Tech giant Microsoft has recently unveiled a new algorithm for the Ethereum blockchain on Azure (its cloud computing service) called Proof-of-Authority (PoA). Ethereum on Azure is a Blockchain-as-a-Service (BaaS) product that allows enterprises to “deploy and configure an Ethereum blockchain network in minutes.” Cody Born, a software engineer at Azure Global, said:

"This works great in anonymous, open networks where competition for cryptocurrency promotes security on the network. However, in private/consortium networks the underlying ether has no value. An alternative protocol, Proof-of-Authority, is more suitable for permissioned networks where all consensus participants are known and reputable."

Read more here

State of the Crypto

Bitcoin is up 2.43% at $6,469.750 with a volume of Ƀ88.0k - $568.5M on the USD pairs.

Ether is down 2.08% against Bitcoin at Ƀ0.0559 per Ether and up 0.29% against the dollar to $361.34 with average volume Ƀ50.1k on the ETH/BTC pair.

Bitcoin Cash is down 0.52% to Ƀ0.09319 with volumes of Ƀ13.7k and up 1.85% against the dollar at $602.12.

Ripple is down 3.26% to Ƀ0.00005227 with volumes of Ƀ11.3k and down 0.85% against the dollar at $0.3377.

Zcash is up 2.83% for the day to Ƀ0.02614 per ZEC and up 5.17% against the dollar to $169.5 with an average volume of Ƀ4.9k for the 24 hour period.

Litecoin is up 1.03% against the dollar for the day at $62.59 and down 1.19% to Ƀ0.009675 on volumes of Ƀ12.1k.

Dash is up 3.07% at Ƀ0.02888 with Ƀ4.1k volume and up 5.82% against the dollar at $186.48.

Iota is down 0.86% to Ƀ0.00009868 on Ƀ1.6k volume.

Ether Classic is down 2.77% to Ƀ0.002316 with volumes of Ƀ16.7k and down 0.4% against the dollar at $14.94.

Monero is up 0.64% against the dollar at $98.84 and down 1.8% against Bitcoin at Ƀ0.0153 on volumes of Ƀ2.2k.

Neo is down 2.9% for the day to Ƀ0.003378 per NEO and down 0.86% against the dollar to $21.79 with an average volume of Ƀ4.0k for the 24 hour period.

Waves is up 2.78% to Ƀ0.0002733 on Ƀ626.448 volume.

Stratis is up 1.39% to Ƀ0.0002633 on Ƀ138.513 volume.

Cardano is up 1.09% to Ƀ0.00001862 on Ƀ3.2k volume.

NEM is up 0.11% to Ƀ0.00001895 on Ƀ669.632 volume.

EOS is down 0.99% to Ƀ0.0008792 on Ƀ35.7k volume.

Tron is up 0.78% to Ƀ0.00000388 on Ƀ7.5k volume.

Stellar is up 6.71% to Ƀ0.00003449 on Ƀ5.5k volume.

Market risers
1 FUNDZ +54.87%
2 ABTC +49.29%
3 GRS +45.42%
4 MIODIO +43.63%
5 CONI +37.25%
Market losers
1 PPY -49.81%
2 PLAN -38.81%
3 AOA -38.65%
4 KICK -30.63%
5 DEB -27.54%
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