Market Analysis Report

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index closed at 3,705.31 yesterday at 5 pm (GMT) and has since dropped 0.39%.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $7,083 representing a gain of 2.04% in the last 24 hours. More than $410 M worth of BTC were exchanged in the BTC/USD market representing a 21% share of the global daily volume. The BTC/JPY pair represents a 12% share.

The Ethereum price has increased 2.57% over the past 24 hours and is currently sitting at $292, with over $100 M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has an 11% market share of the daily trading volume.

For a detailed market analysis click here

Moscow's Government to Use Ethereum to Promote Transparency

Moscow's government is planning to use Ethereum as part of a system which will record applications submitted by farmers, competing for a limited number of commercial plots. Some 15,000 trading spots are up for grabs, with farmers coming in from Russia, Armenia, Belarus, Kazakhstan and Kyrgyzstan and the market season stretching between April 20 and November 25. Andrey Borodyonkov, a blockchain product manager for Moscow City Hall, explained to CoinDesk that the "Blockchain is an additional guarantee that the incoming applications remain immutable as well as makes the audit of the application history possible". Moscow's government stated:

"The entire dataset is publicly viewable, transparent and available for download. In that case, submission time can be confirmed, while the application cannot be deleted or altered by someone once it is submitted."

Read more here

GMO decided to stop mining Bitcoin Cash

Trace Mayer, a prominent influential figure in the crypto community, shared the July issue of GMO's monthly report on its mining operations on Twitter. GMO, Japan's largest cryptocurrency mining company, reported that they did not mine Bitcoin Cash (BCH) in the month of July. It was made clear in the report that the Japanese company had been devoting less mining power to Bitcoin Cash since February. It is also clear that GMO continued to mine Bitcoin (BTC) in 2018, despite the growing mining difficulty of the coin. Mayer stated: 

"Why would GMO Internet switch all mining capacity to $BTC from $BCH? Only ~$37,867 for one hour 51% $BCH attack? Does DARI ratio account for block maturation times? Nov fork? What could possibly happen with this $9B testnet? Sure is fun to watch! (...)"

Read more here

Russia May Unban Telegram App

Russian news outlet RT reported that the Federal Service for Supervision of Communications (Roskomnadzor) said it will consider reversing the ban on messaging service Telegram. Roskomnadzor requires the company to submit to a court order to share its encryption keys with the Federal Security Service (FSB), which alleges that it needs the ability to decrypt messages to fight terrorism.

Read more here

Win tickets to World Blockchain Forum London 3-5 September 2018 | The Old Billingsgate

The world’s largest blockchain conference explores the promise of blockchain technology, industry trends and future investments. As a proud sponsor of WBF London CryptoCompare is offering 5 free tickets to the world’s most influential community members and blockchain enthusiasts.

Fill out this 1-minute survey to WIN tickets for WBF London

WBF London offers two full days of direct face-to-face time with key technology buyers from across Europe as well as leading media outlets, giving you the opportunity to make your voice heard at the highest level and alongside other leading innovators.

Held in the spectacular Old Billingsgate in the heart of London and overlooking the Thames, you will join visionary leaders, economic pioneers and enterprising investors from around the world as they discuss the future of our financial world.

Our star-studded lineup of speakers includes:

• Halsey Minor | Live Planet * Video Coin
• David Chaum | Rise of Crypto
• Nick Spanos | Bringing Real-world Data To Smart Contracts
• Jack Gavigan | Open, Permissionless, Zero Knowledge Cryptography
• Josh Halferty | One Exchange. All of Crypto. Decentralised.
• Vanessa Grellet | Blockchain for Social Impact
• Marjan Delatinne | Ripple Solving Global Payments
• Jo Jo Hubbard | Blockchain & the Energy Transition
• Jason King | Securing the Future of Blockchain
• Sang Lee | The Tokenization of Asset Management
• Jeff Berwick | The Dollar Vigilante
• Veronica McGregor |  Regulation Panel

And so much more! A full list of confirmed speakers and agenda can be found here.

Join us at the World Blockchain Forum in London.