Market Analysis Report

06 December 2018

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index closed at 1,926.65 yesterday at 5 pm (GMT) and has since increased by 1.24%.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $3,854 representing a gain of 0.09% in the last 24 hours. More than $380 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 4% share.

The Ethereum price has dropped 3.52% over the past 24 hours and is currently sitting at $102, with over $110 M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 14% market share of the daily trading volume.

See live charts here and here

XRP Becomes First Settlement Mechanism on R3’s Global Payments App

Yesterday, enterprise blockchain software firm R3 announced the launch of its new Corda Settler app, which allows payment obligations arising on the Corda blockchain platform to be made through any of the world’s payment systems, both traditional and blockchain-based, and XRP is the first, and currently only, cryptocurrency that is supported as a settlement mechanism. Richard Gendal Brown, the Chief Technology Officer at R3, stated:

“The deployment of the Corda Settler and its support for XRP as the first settlement mechanism is an important step in showing how the powerful ecosystems cultivated by two of the world’s most influential crypto and blockchain communities can work together. "

Read more here

Ripple, Cardano, NEM, and Fetch.AI Launch ‘Blockchain for Europe’ Association

According to a blog post by the NEM Foundation published yesterday, Ripple, EMURGO (Cardano), NEM Foundation, and Fetch.AI have become the founding members of a new association called "Blockchain for Europe" that aims to create a unified voice for the distributed ledger technology (DLT) industry for its discussions with Europe's policymakers. Dan Morgan, Ripple's Head of Regulatory Relations for Europe, stated:

"Ripple is delighted to be a founding member of Blockchain for Europe. This is a critical time for policymakers in Europe as they seek to develop the right regulatory framework to capture the benefits of both digital assets and blockchain technology."

Read more here

Bitwise Launches Two New Low-Cost Liquid Funds

Yesterday, Bitwise Asset Management announced the launch of two new single-asset funds: the Bitwise Bitcoin Fund and the Bitwise Ethereum Fund. Hunter Horsley, Co-Founder and CEO of Bitwise, stated:

"The 68% drawdown in bitcoin prices this year has given investors a unique opportunity to enter the market at prices many thought we'd never see again. Though an ETF has not yet been approved, investors and advisors like the fund format because it's professionally managed and simplifies access to best-in-class custody, trading, reporting, and tax preparation, and allows for the safe capture of events like hard forks and airdrops."

Read more here

State of the Crypto

Bitcoin is up 0.09% at $3,854.960 with a volume of Ƀ102.1k - $388.1M on the USD pairs.

Ether is down 3.57% against Bitcoin at Ƀ0.02677 per Ether and down 3.52% against the dollar to $102.93 with average volume Ƀ73.2k on the ETH/BTC pair.

Bitcoin Cash is down 10.25% to Ƀ0.03407 with volumes of Ƀ4.9k and down 10.56% against the dollar at $142.1.

Ripple is down 1.15% to Ƀ0.00008843 with volumes of Ƀ21.7k and down 0.93% against the dollar at $0.3413.

Zcash is down 4.23% for the day to Ƀ0.01767 per ZEC and down 3.98% against the dollar to $68.22 with an average volume of Ƀ18.2k for the 24 hour period.

Litecoin is down 0.99% against the dollar for the day at $29.93 and down 1.01% to Ƀ0.00778 on volumes of Ƀ20.1k.

Dash is down 3.32% at Ƀ0.02036 with Ƀ28.4k volume and down 2.78% against the dollar at $79.24.

Iota is down 3% to Ƀ0.00006715 on Ƀ437.856 volume.

Ether Classic is down 1.1% to Ƀ0.001077 with volumes of Ƀ8.1k and down 0.72% against the dollar at $4.16.

Monero is down 1.82% against the dollar at $53.52 and down 2.19% against Bitcoin at Ƀ0.01383 on volumes of Ƀ1.5k.

Neo is down 0.21% for the day to Ƀ0.001861 per NEO and down 0.14% against the dollar to $7.23 with an average volume of Ƀ14.3k for the 24 hour period.

Waves is down 9.28% to Ƀ0.0004721 on Ƀ4.2k volume.

Stratis is down 4.91% to Ƀ0.0002132 on Ƀ419.676 volume.

Cardano is down 3.5% to Ƀ0.0000091 on Ƀ1.9k volume.

NEM is up 0.45% to Ƀ0.00001999 on Ƀ747.924 volume.

EOS is down 3.65% to Ƀ0.0005678 on Ƀ39.2k volume.

Tron is up 0.54% to Ƀ0.0000037 on Ƀ3.2k volume.

Stellar is down 5.33% to Ƀ0.00003538 on Ƀ3.8k volume.

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