Market Analysis Report

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index has closed at 7,819.83 with a loss of 4.99% for the day.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $9,983 representing a loss of 3.64% in the last 24 hours. More than $1.7B worth of BTC were exchanged in the BTC/USD market representing a 31.7% share of the global daily volume. The BTC/JPY pair represents a 35.16% share.

The Ethereum price has dropped 2.3% over the past 24 hours and is currently sitting at $850, with over $380M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 31% market share of the daily trading volume.

See live charts here and here

Venezuela Orders Government Services to Accept Any Cryptocurrency

Venezuela’s president Nicolas Maduro has ordered the country’s consular services, as well as several other services and gas stations, to accept any cryptocurrency including the nation’s own currency, the Petro. This announcement was broadcasted nationwide from the Miraflores Palace and also reported on the website of the Superintendency of Cryptocurrencies. The president said:

"I order the payment of consular services in all embassies and consulates of the Bolivarian Republic of Venezuela in the world, and all consular services in the country, in the Petro currency or in any cryptocurrency."

Read more here

France Cracks Down on Unregulated Cryptocurrency Futures Trading

In a statement released yesterday, the Autorite des Marches Financiers (AMF) said that it had observed a variety of online trading platforms launch cryptocurrency-based derivatives such as binary options, contracts for differences (CFDs), and Forex contracts. The agency, which attributed this development to the “recent cryptocurrency boom,” said that it had concluded that cash-settled cryptocurrency contracts qualified as derivatives, making them subject to AMF oversight. The agency stated:

“The AMF concludes that a cash-settled cryptocurrency contract may qualify as a derivative, irrespective of the legal qualification of a cryptocurrency. As a result, online platforms which offer cryptocurrency derivatives fall within the scope of MiFID 2 and must, therefore, comply with the authorisation, conduct of business rules, and the EMIR trade reporting obligation to a trade repository.”

Read more here

Shuttered Exchange BitFunder Founder Charged With Fraud

The US securities regulator has charged the now-shuttered BitFunder with attempting to hide information about a major hack. Meanwhile, the US Attorney’s Office for the Southern District of New York simultaneously charged BitFunder founder, 37-year old Jon E. Montroll of Texas who also ran digital wallet service WeExchange Australia, with two counts of perjury and obstruction of justice. He faces decades in prison for the combined charges.

The combined charges levied against the exchange and Montroll include operating an unregistered securities exchange, defrauding investors and “making false and misleading statements” about the “unregistered offering of securities.” The SEC’s New York regional office director, Marc Berger, said:

“We allege that BitFunder operated unlawfully as an unregistered securities exchange. Platforms that engage in the activity of a national securities exchange, regardless of whether that activity involves digital assets, tokens, or coins, must register with the SEC or operate pursuant to an exemption."

Read more here

XinFin—the Blockchain Technology Company launched XDCE, its utility token on Feb 5, 2018

Singapore—Feb 22, 2018—XinFin launched its utility token XDCE on Feb 5, 2018. XDCE is an ERC20 token which will have multifold benefits for traders, private investors and institutional level partners.

Speaking about the XDCE Crowd Token Sale, Alex Mathbeck, Marketing Head, XinFin said, “The swappable XDCE token will predominantly help traders who compete against other ERC20 tokens across various exchanges. While our reach becomes more versatile in the open crypto market with this launch, traders will also leverage from XDCE’s compatibility and tradability on most exchanges. This will enable XDC01 to grow strictly from use cases whereas traders using XDCE can connect and benefit from growth of standard XDC token.”

Hosted on decentralized Ethereum Ecosystem, the ERC20 utility token, XDCE will enable global enterprises work with XDC Protocol.

“XinFin tokens are on built on XDC01 protocol which is first of its kind hybrid protocol. Launch of XDCE tokens was a move in this direction so that people can trade at stable prices on regulated exchanges sidestepping volatile market where price changes drastically due to lower liquidity.” said, Mr. Mathbeck.

Token Sale Page: www.xinfin.io

About XinFin:

XinFin (www.xinfin.org) is a Singapore based blockchain Technology Company focused on international trade and finance across the globe. XinFin’s XDC protocol is a hybrid blockchain that allows peer-to-peer contracts over regulated payment rails or using XDC tokens in approved jurisdictions. You can follow XinFin on Twitter (@XinFinF) and on Telegram (https://t.me/xinfintalk).

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