Market Analysis Report

28 February 2018

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index has closed at 8,387.61 with a gain of 2.08% for the day.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $10,600 representing a loss of 1% in the last 24 hours. More than $1.1B worth of BTC were exchanged in the BTC/USD market representing a 25% share of the global daily volume. The BTC/JPY pair represents a 45.5% share.

The Ethereum price has risen 5.8% over the past 24 hours and is currently sitting at $891, with over $250M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 21.6% market share of the daily trading volume.

See live charts here and here

Venezuelan Leader Claims Big Demand for Petro

Venezuela's president, Nicolas Maduro, declared the government has received more than 171,000 certified purchase orders for the Petro, the country's expected cryptocurrency.

He further claimed that more than 3,500 companies placed bids for Petro tokens. The remaining 82,000 purchasers are individuals, according to Venezuela-based newsgroup teleSUR. The announcement reads:

"To date, we have received 171 thousand offers of intention of purchases certified for the Petro, 40.8% in USD, 6.5% in EUR, 18.4% in ETH, 33.8% in BTC, of which 3523 offers are from companies"

Read more here

Japan's Finance Watchdog Eyeing ICO Regulation

Japan's financial regulator is considering the creation of a regulatory framework for companies raising funds through initial coin offerings. According to Sankei Shimbun, the Financial Service Agency is considering the revision of relevant laws and regulations in an effort to regulate ICOs in Japan.

Japan currently has no clear regulations covering ICOs specifically, while the existing Bitcoin payment law that went into effect last April is not sufficient to define the legal status of some ICO activities. The report reads:

"There is an increasing demand for amendment of the law, and the FSA is planning to consider suspension of inappropriate ICOs."

Read more here

Japanese e-Commerce Giant Rakuten is Launching its Cryptocurrency

Rakuten CEO Hiroshi Mikitani unveiled the "Rakuten Coin" initiative - which will be used as part of the company's points-based loyalty rewards system - during this week's Mobile World Congress event in Barcelona. Speaking Tuesday, Mikitani pitched the project as a way to help the company expand its international customer base.

Mikitani also hopes to use the cryptocurrency to attract more international customers by positioning it as a "borderless" payment method that could mitigate exchange rate fees. The company has said that it already sees international demand on this front.

Read more here

Arweave (Formerly Archain) Joins World-Renowned Startup Accelerator Techstars

After much fierce competition from hundreds of innovative startups, Arweave (formerly Archain) has joined the prestigious Techstars startup accelerator program after a successful seed token sale in late 2017. Techstars were early investors in Uber, Digital Ocean, SendGrid, and a number of other massively successful companies. 

Arweave is building a new internet on a blockweave - an evolved, massively scalable blockchain. By creating a globally distributed archiving system using modified cryptocurrency technologies, Arweave offers truly permanent information storage for the first time. You can find out more about Arweave and their upcoming token sale at their website. To read more about this collaboration with Techstars, visit Arweave’s blog post.

Multiversum: Relations for Complex Entities

Multiversum was developed to tackle the elephant in the room: the simplistic nature of first-generation blockchain. While blockchain has some amazing features - immutability, transparency and security - it has major issues in terms of scalability and speed.

Recent high-profile examples showcased the inefficiencies of the technology. In December, CrypoKitties exposed the fragility of Ethereum, often banded the supercomputer of blockchain. The entire platform ground to a halt as the craze for CryptoKitties skyrocketed for a few weeks, and then just as suddenly disappeared from view. Transaction speeds were killed and fees climbed dramatically.

Multiversum founder and visionary Andrea Taini discovered blockchain and could see its attraction. “But I could also see its limitations.” he says. “Organizations such as government or large corporates have complex systems with myriad layers of data distributed across the ecosystem. Data is the lifeblood of any corporate but it is not laid out in neat lines of blocks. It is meshed throughout the systems with complex relational links. This is where blockchain falls down. It is not mature or sophisticated enough to work with multilayered companies.”

Taini developed Multiversum technology to address this. The Multiversum blockchain pushes traditional blockchain beyond its current limits, by enhancing the data layer through self-verifying and distributed structures of organized data entities, related one to another by symbolic links.

This technology set the foundations for a decentralized and distributed system of coherent self-verifying transactions: Multiversum blockchain.

Multiversum allows, instead of the existing blockchain simple data model, the creation of a Relational Crypto Database (an advanced and organized data storage solution) which can handle not just a single data-type, but a series of data grouped in graphs of complex data structures related to one another. Relations are now the first-class citizens of the blockchain and are assured by cryptographic methods.

Therefore, Multiversum is an evolved blockchain technology, offering unique features to overcome the previously analyzed inconveniences, with a set a crypto-validation and distribution techniques fit for every environment: administrative, industrial, financial and governmental.

Find out more from the team themselves on their Telegram channel.

Recently Added:

DTR added to Upcoming ICO list

AUC added to Upcoming ICO list

Press Release

State of the Crypto

Bitcoin is down 1.02% at $10,600.960 with a volume of Ƀ106.5k - $1148.5M on the USD pairs.

Ether is down 2.14% against Bitcoin at Ƀ0.08172 per Ether and down 3.07% against the dollar to $865.17 with average volume Ƀ37.7k on the ETH/BTC pair.

Bitcoin Cash is down 4.81% to Ƀ0.1147 with volumes of Ƀ13.2k and down 5.76% against the dollar at $1216.27.

Ripple is down 3.56% to Ƀ0.00008571 with volumes of Ƀ6.2k and down 4.55% against the dollar at $0.9091.

Zcash is down 4.44% for the day to Ƀ0.03722 per ZEC and down 4.89% against the dollar to $398.08 with an average volume of Ƀ2.1k for the 24 hour period.

Litecoin is down 3.8% against the dollar for the day at $213.42 and down 3.08% to Ƀ0.02014 on volumes of Ƀ19.8k.

Dash is down 5.69% at Ƀ0.05648 with Ƀ5.1k volume and down 6.42% against the dollar at $600.13.

Iota is up 2.7% to Ƀ0.0001825 on Ƀ2.1k volume.

Ether Classic is down 6.06% to Ƀ0.003192 with volumes of Ƀ13.4k and down 7.4% against the dollar at $33.77.

Monero is down 3.09% against the dollar at $295.26 and down 2.43% against Bitcoin at Ƀ0.02776 on volumes of Ƀ3.4k.

Neo is down 4.24% for the day to Ƀ0.01265 per NEO and down 5.37% against the dollar to $133.49 with an average volume of Ƀ7.3k for the 24 hour period.

Waves is down 1.43% to Ƀ0.000629 on Ƀ1.8k volume.

Stratis is down 1.82% to Ƀ0.0007104 on Ƀ378.348 volume.

Cardano is down 4.26% to Ƀ0.00002944 on Ƀ3.5k volume.

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