Market Analysis Report

04 July 2018

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index has closed at 4,822.04 with a gain of 4.74% for the day.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $6,498 representing a loss of 2% in the last 24 hours. More than $350 M worth of BTC were exchanged in the BTC/USD market representing a 12% share of the global daily volume. The BTC/JPY pair represents a 58.9% share.

The Ethereum price has dropped 2.67% over the past 24 hours and is currently sitting at $464, with over $150 M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 14.3% market share of the daily trading volume.

For a detailed market analysis click here

Binance Halts All Trading Over Abnormal Crypto Transactions

Tonight, cryptocurrency exchange Binance has suspended its trading services after one token on its platform was reported with irregular transactions. According to the 24-hour price high data from Binance, the price of Syscoin shot up to 96 BTC from its previous price of around 0.00004 BTC. Later on, the company informed that it has halted the platform's trading services as it would undergo system maintenance, during which trading, withdrawals, and other account functions would be suspended. Since then, the company has stated that has completed its system maintenance and has resumed all trading activity at 8:00 AM UTC. The official blog post reads:

"Binance has completed its system maintenance and we will resume all trading activity at 08:00 AM (UTC). From now until the commencement of trading, users will be able to cancel orders, process deposits, withdrawals, and use all other account related functions. Please stay tuned for a more in-depth explanation of today’s maintenance in a later announcement."

Read more here

Joint Chiefs of Global Tax Enforcement (J5) Launch Global Crackdown On Cryptocurrency Crimes

Last Monday, a newly formed group comprised of tax authority agencies announced they will be working closely to prevent tax evasion on capital gains from cryptocurrencies and money laundering activities through cryptocurrencies. The group is named "Joint Chiefs of Global Tax Enforcement (J5)" and will be formed by the US Internal Revenue Service (IRS) and the tax departments of the UK, Canada, Australia, and the Netherlands. IRS-CI Chief, Don Fort, stated:

"Siloing [their] information from the rest of the world while organized criminals and tax cheats manipulate the system and exploit vulnerabilities for their personal gain. The J5 aims to break down those walls, build upon individual best practices, and become an operational group that is forward-thinking and can pressurize the global criminal community in ways we could not achieve on our own."

Read more here

Microsoft Launches Enterprise Blockchain Partnership in Taiwan

Last week, Microsoft Taiwan announced it has entered into a partnership with Digital China and Hot Cool in a bid to use blockchain technology to improve the financial, e-commerce, entertainment, and several other industries. General Manager of Microsoft Taiwan, Sun Jikang, explained that Microsoft Azure can improve the computing speed and security of Digital China’s digital blockchain services, as stated:

"Taiwan has first-class engineering and technical talents, and their innovative thinking cannot be underestimated. At the same time, it carries a solid manufacturing and R&D foundation, plus Excellent geographical location, with the superior conditions for the development of blockchain application, I believe that Microsoft’s tooling in the strategic layout of the blockchain, and citing the global partner resources, is bound to be the vision of the industrial application of the blockchain.”

Read more here

Jubiter, a wallet that offers both security and ease of use to the masses is now live!

Jubiter excels in making users its number one priority.

For years, the crypto market has been closed to the general public. According to a Deloitte research, acceptance is one of the three major factors that will make or break the success of cryptocurrency. But so far, crypto has only been in the hands of a small group of techies. For crypto to succeed, it needs to earn widespread acceptance, and what better way to do that than by creating an exchange platform that can accommodate everyone?

Jubiter is a secure and easy-to-use wallet currently available for the masses. It offers each user an unprecedented degree of security, exceptional customer service, and an extremely easy access to funds and trading opportunities.

Jubiter can be used:

1. To securely store Bitcoin and Litecoin
2. To buy, sell and exchange cryptocurrency, quickly and easily
3. To use a credit card or bank transfer for transactions
4. To join the crypto game through an extremely user-friendly platform

For more details on the different features head to Jubiter.com.

Jubiter team is driven by one goal: to make the crypto world accessible to everyone.

“What we aim to do here, at Jubiter, is to give everyone a chance to get in on the game. We want to help crypto gain widespread acceptance. We want to be game changers” / Richard Brochume, Jubiter CEO

Be a game changer, join Jubiter: Become a Game Changer

Press Release

State of the Crypto

Bitcoin is down 2% at $6,498.310 with a volume of Ƀ59.1k - $387.8M on the USD pairs.

Ether is down 0.78% against Bitcoin at Ƀ0.07135 per Ether and down 2.67% against the dollar to $464.13 with average volume Ƀ39.0k on the ETH/BTC pair.

Bitcoin Cash is down 4.19% to Ƀ0.1167 with volumes of Ƀ16.1k and down 6.04% against the dollar at $758.84.

Ripple is down 2.63% to Ƀ0.00007417 with volumes of Ƀ9.0k and down 4.32% against the dollar at $0.4833.

Zcash is down 2.71% for the day to Ƀ0.02767 per ZEC and down 4.43% against the dollar to $179.74 with an average volume of Ƀ2.9k for the 24 hour period.

Litecoin is down 3.2% against the dollar for the day at $84.87 and down 1.36% to Ƀ0.01303 on volumes of Ƀ14.2k.

Dash is down 4.16% at Ƀ0.03707 with Ƀ9.0k volume and down 5.87% against the dollar at $240.72.

Iota is up 0.62% to Ƀ0.0001789 on Ƀ2.1k volume.

Ether Classic is down 0.16% to Ƀ0.002517 with volumes of Ƀ11.9k and down 2.03% against the dollar at $16.4.

Monero is down 1.81% against the dollar at $139.17 and down 0.05% against Bitcoin at Ƀ0.02136 on volumes of Ƀ2.7k.

Neo is up 6.69% for the day to Ƀ0.006047 per NEO and up 4.58% against the dollar to $39.29 with an average volume of Ƀ5.6k for the 24 hour period.

Waves is down 5.06% to Ƀ0.0004563 on Ƀ1.3k volume.

Stratis is down 4.86% to Ƀ0.0004133 on Ƀ456.855 volume.

Cardano is down 3% to Ƀ0.00002297 on Ƀ3.4k volume.

NEM is down 2.9% to Ƀ0.00002841 on Ƀ1.2k volume.

EOS is down 1.74% to Ƀ0.001355 on Ƀ13.8k volume.

Tron is down 1.82% to Ƀ0.00000594 on Ƀ4.1k volume.

Stellar is down 2.58% to Ƀ0.00003178 on Ƀ2.3k volume.

 

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