Market Analysis Report

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index has closed at 10,646.83 with a loss of 18.25% for the day.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $10,851, representing a loss of 10.7% in the last 24 hours. More than $3.6B worth of BTC were exchanged in the BTC/USD market representing a 41% share of daily volume, followed by the BTC/JPY pair that represents a 30% share.

The Ethereum price has dropped by 11.6% over the past 24 hours and is currently sitting at $980.39, with over $1.9B worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 42% market share of the daily trading volume.

See live charts here and here

Bitconnect Shuts Down Its Exchange and Lending Platform

Bitconnect has announced that it is closing its lending and exchange platform. The company has widely been accused of operating a Ponzi scheme and was recently rocked by cease and desist notices in two US states. Immediately after the firm declared its intention to wind things up, its BCC coin plummeted from $290 to under $10 before recovering slightly. With the exchange offline, many holders have been left locked out and powerless to sell their heavily deprecated assets.

Read more here

Vitalik Buterin Leaves China-Based VC to Focus on Ethereum Development

Vitalik Buterin, the co-founder of Ethereum, has left China-based venture capital firm Fenbushi Capital according to TechCrunch, to focus on the development of Ethereum. Buterin announced that he has stepped down from his role as a general partner of Fenbushi Capital, which has been one of the most active investors in the blockchain and cryptocurrency sector. He noted that he will no longer serve as a full-time partner of the firm, but will remain as an advisor.

To address the growing demand for Ethereum and the high expectations from the global Ethereum community, Buterin explained that he will solely focus on the development of the Ethereum blockchain network and solving scalability issues to provide a better ecosystem for decentralized applications. He stated:

“I expect 2018, at least within the Ethereum space that I’m best able to speak about, will be the year of action. It will be the year where all of the ideas around scalability, Plasma, proof-of-stake, and privacy that we have painstakingly worked on and refined over the last four years are finally going to turn into real, live working code that you can play around in a highly mature form in some cases on testnets, and in some key cases even on the public mainnet.”

Read more here

UNICEF Wants to Fund Early Stage Blockchain Startups

The United Nations Children's Fund (UNICEF) is seeking to invest in early-stage blockchain startups with the potential to help children across the globe. In an announcement yesterday, the program said it is offering equity-free investments of $50,000–90,000 to seed-stage startups developing solutions on open blockchains in areas including smart contracts, tokens, mining and data analysis. The release reads:

"We are interested in companies that use distributed ledger tech in new, groundbreaking, ways that are scalable, and globally applicable."

Read more here

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