Market Analysis Report

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index closed at 1,842 yesterday at 5 pm (GMT) and has since increased by 5.12%.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $3,804 representing a gain of 8.7% in the last 24 hours. More than $444M worth of BTC were exchanged in the BTC/USD market representing a 20.9% share of the global daily volume. The BTC/JPY pair represents an 11.6% share.

The Ethereum price has increased by 2.2% over the past 24 hours and is currently sitting at $103, with over $132M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 12.9% market share of the daily trading volume.

See live charts here and here

Western Union Is Prepared To Add Cryptocurrencies

Western Union, the leading international money transfer service provider, released a video last Monday in which it noted that the company is “uniquely positioned to connect the cash and digital world.” The video explained that the company currently has access to “billions of bank accounts” throughout the world and also works with “over half a million retail agent locations.” This allows Western Union to work as an “on-ramp and off-ramp for global money movement.” Commenting on how the company is prepared to integrate cryptocurrencies to their cross-border payment platform, Odilon Almeida, the president of Western Union, stated:

"Western Union is ready today to adopt any kind of currency. We already work with 130 currencies. I think cryptocurrencies may become one more option of currencies or assets around the globe to be exchanged between people and businesses. If that happens, we would be ready."

Read more here

South Korean Government Trials Blockchain For Shipping Efficiency

Two South Korean government ministries are exploring blockchain’s potential to bring new abilities to marine logistics. Announced yesterday, the country’s Ministry of Science and the Ministry of Oceans and Fisheries have launched a blockchain pilot project to see if the technology can help the nations container shipping industry become more efficient. If the pilot proves a success, the two ministries expect to expand the blockchain tech to other ports and areas in the country. The Ministry of Science said:

“We will establish a roadmap for developing blockchain technology and plan to secure 90% of the technology level by 2022 compared to the world’s top countries"

Read more here

Gaming Giant Atari to Launch ‘Blockchain Versions’ of Two Games

Renowned game maker Atari Inc. announced a license agreement with Animoca Brands Limited, giving it the rights to produce and publish blockchain versions of the famed Atari mobile game titles Roller Coaster Tycoon Touch and Goon Squad in most territories around the world. The move represents a significant leap for blockchain game development, as the titles in question are some of the most iconic titles in existence. Speaking further, Frederic Chesnais, CEO Atari, said:

"We are proud and delighted to enter into this long-term and strategic relationship with Animoca Brands, which also allows us to become a shareholder in one of the most exciting innovators in the world of decentralized gaming. We hope that this agreement paves the way to further cooperation with other Atari products.”

Read more here

Digitex: Commission-free Futures Exchange

Does the crypto space need commission-free trading? Considering the evolving ecosystem of cryptos, especially in the world of trading, zero trading fees could be argued to be long overdue. The way to mass adoption isn’t about following traditional business models or acting as the new middleman. There’s more to it than that.

Believe it or not, there are pros to having a cryptos futures market. Following conventional economic thought, it’s the next logical step. And the emergence of a futures market shows that crypto assets are maturing compared to traditional asset markets. But why does crypto need commission free? Zero trading fees help to lower the financial barrier to entry for traders. This will encourage retail level traders to use the exchange. And that’s exactly what Digitex Futures is trying to bring to the market.

Digitex may not be the first in that particular space but it will lead the way in bringing zero-fee trading to the futures exchange market. This will lower the barrier to entry for traders and help to garner the attention of those interested in trading, eventually leading to the market size growing and showcasing the maturity of the space. The competition fostered will help lead to mass adoption of cryptos whether through direct or indirect ownership of the hard asset.

Read more here