Market Analysis Report

07 December 2018

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index closed at 1,857.83 yesterday at 5 pm (GMT) and has since dropped 7.10%.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $3,392 representing a loss of 12.02% in the last 24 hours. More than $670 M worth of BTC were exchanged in the BTC/USD market representing a 26% share of the global daily volume. The BTC/EUR pair represents a 4% share.

The Ethereum price has dropped 17.4% over the past 24 hours and is currently sitting at $84, with over $210 M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 22% market share of the daily trading volume.

See live charts here and here

Binance Introduces Sub-Account Support

Yesterday, Binance announced the launch of the long-anticipated sub-account feature, which will serve entities looking to set up multiple trading accounts within a single organization and provide control access on an account level. On a blog post the company stated:

"At Binance, we strive to fulfill the needs of our users and to constantly improve the user experience. The ability to have sub accounts was one of our most-requested features — we have been working on this functionality and are happy to now offer this to our institutional accounts."

Read more here

Bitmain Open Sources KYC Software Tool ‘Coconut’

According to a Twitter publication made yesterday by the BITMAIN official account, the world’s largest crypto mining firm, the company has opened the code for its privacy-centric know-your-customer protocol (KYC), called Coconut. In the words of the code’s GitHub explaining document:

“As one of the major features of blockchain is that all transaction records are public, transparent and permanent, there are concerns that organizations could potentially track and analyze customer behavior on blockchain once they have implemented KYC. This will raise serious privacy issues and obstruct the spread of blockchain.”

Read more here

Coinsquare Acquires Stellar Wallet BlockEQ

Yesterday, Toronto-based Coinsquare announced that has acquired Stellar wallet BlockEQ as it seeks to expand its offerings beyond cryptocurrency trading, revealing that it had paid $12 million CAD (~$9 million USD) to acquire BlockEQ, a non-custodial wallet that allows crypto users to store XLM and other tokens that run on the Stellar network. Cole Diamond, CEO of Coinsquare stated:

"We have enormous respect for what the BlockEQ team brings to Coinsquare, they are one of Canada’s best tech teams, and the product they’ve built is immensely valuable. That combination in partnership with Coinsquare’s technology and team means that we have the opportunity to build amazing things for the cryptocurrency community in Canada and far beyond.”

Read more here

CryptoCompare Publishes November Exchange Review

We have published our Exchange Review for November 2018 providing insights into the cryptocurrency exchange industry as well as any changes to constituent exchanges that make up CryptoCompare’s CCCAGG price indices.

As for previous editions, the monthly review includes news highlights; a market segmentation and overview; exchange trade data; information on Bitcoin to Fiat volumes; country and web traffic analysis.

In the November Review, we have added a few new analyses including a month-on-month exchange comparison of web traffic vs daily volume, a look into Bithumb’s BTC to KRW volumes relative to their promotional events, and an additional month-on-month analysis of BTC trading to various fiat currencies.

Key findings from the November review include:

  • Spot volumes continue to represent the majority (75%) of total market volumes when compared to those of futures volumes (25%)
  • Exchanges with fees represented just under 89% of daily spot volume compared to those that implement transaction-fee mining (8%) and no-fee models (2%)
  • Exchanges that offer fiat to crypto pairs constituted a third of daily spot volumes, compared to those that offer only crypto to crypto pairs
  • Bithumb overtook Binance as the largest spot exchange with average daily volumes totaling 1.24 billion USD. Binance (641 million USD) and ZB (560 million USD) traded the second and third highest volumes respectively.
  • Bitcoin trading to Korean Won (KRW) dominated BTC to fiat spot volumes last month, representing 50% of all volumes on average. This follows from Korean exchange Bithumb’s trading volumes.

Read more here

Digitex Launching Soon - Trade Bitcoin Futures With Zero Fees

You could take a brief glance at Digitex Futures and wonder why the crypto community needs another exchange. But if commission-free and non-custodial don’t stand out to you instantly, there are plenty more reasons besides. Digitex Futures is not just another exchange.

It’s a Bitcoin futures exchange designed by traders for traders with no charge for placing or scratching trades thanks to its native DGTX token. All trades are placed in DGTX and profits and losses denominated in the token, creating a constant demand for it and a highly liquid exchange.

Traders can speculate on the price of Bitcoin without losing any profits to the house. This means that short-term scalpers and aggressive, low volume, high-frequency traders can finally make a decent daily living. Digitex also caters to long-term traders since its high-speed order-matching engine reduces slippage to next to zero.

And if that wasn’t enough to pique your interest, it gets even better. As a non-custodial exchange, Digitex will never hold onto traders’ funds. Accounts are held on the Ethereum blockchain and smart contracts used to place trades. Digitex combines the best in speed and usability with a powerful order matching engine, one-click ladder trading interface, and centralized servers with the security of decentralized accounts.

With the crypto community’s biggest Telegram group at 55K+ members and an Early Access Waitlist already swelling at well over 560K, Digitex Futures isn’t the only player to bet on the growing Bitcoin futures market. Sign up for commission-free trading today!

Recently Added:

BCV Blue Chip to ICO Upcoming list

XS2 Exchange added to Exchange List

Press Release

State of the Crypto

Bitcoin is down 12.02% at $3,392.510 with a volume of Ƀ188.7k - $670.2M on the USD pairs.

Ether is down 6.09% against Bitcoin at Ƀ0.025 per Ether and down 17.4% against the dollar to $84.69 with average volume Ƀ79.3k on the ETH/BTC pair.

Bitcoin Cash is down 5.47% to Ƀ0.03027 with volumes of Ƀ14.5k and down 19.44% against the dollar at $109.06.

Ripple is down 0.5% to Ƀ0.00008808 with volumes of Ƀ35.8k and down 12.43% against the dollar at $0.2987.

Zcash is down 10.41% for the day to Ƀ0.01575 per ZEC and down 21.81% against the dollar to $53.59 with an average volume of Ƀ8.7k for the 24 hour period.

Litecoin is down 15.11% against the dollar for the day at $25.23 and down 3.63% to Ƀ0.007455 on volumes of Ƀ25.2k.

Dash is down 11.76% at Ƀ0.01793 with Ƀ28.3k volume and down 22.42% against the dollar at $60.86.

Iota is down 6.79% to Ƀ0.00006318 on Ƀ661.337 volume.

Ether Classic is down 4.84% to Ƀ0.001022 with volumes of Ƀ14.6k and down 16.39% against the dollar at $3.47.

Monero is down 16.06% against the dollar at $44.96 and down 4.48% against Bitcoin at Ƀ0.01322 on volumes of Ƀ2.3k.

Neo is down 7.74% for the day to Ƀ0.001717 per NEO and down 19.06% against the dollar to $5.86 with an average volume of Ƀ14.8k for the 24 hour period.

Waves is down 9.69% to Ƀ0.000423 on Ƀ2.0k volume.

Stratis is down 12.6% to Ƀ0.0001852 on Ƀ460.658 volume.

Cardano is down 6.06% to Ƀ0.00000852 on Ƀ2.6k volume.

NEM is down 0.4% to Ƀ0.0000199 on Ƀ955.282 volume.

EOS is down 14.16% to Ƀ0.00049 on Ƀ40.3k volume.

Tron is up 1.35% to Ƀ0.00000375 on Ƀ4.2k volume.

Stellar is down 9.78% to Ƀ0.00003219 on Ƀ4.9k volume.

Trending forum posts