Market Analysis Report

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index has closed at 5,192.45 with a gain of 8.29% for the day.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $7,340 representing a loss of 0.47% in the last 24 hours. More than $600 M worth of BTC were exchanged in the BTC/USD market representing an 11.6% share of the global daily volume. The BTC/JPY pair represents a 52.4% share.

The Ethereum price has dropped 4.35% over the past 24 hours and is currently sitting at $476, with over $200 M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 14.2% market share of the daily trading volume.

For a detailed market analysis click here

Coinbase Walks Back Claim That SEC Approved Trio of Acquisitions

Yesterday, cryptocurrency exchange Coinbase has retracted reports of obtaining US Securities and Exchange Commission (SEC) to list tokenized securities on its trading platform. Reports emerged on Monday stating that Coinbase had obtained approval from the United States Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) to acquire three companies which would enable Coinbase to operate as a registered broker-dealer for the crypto securities market. However, in an email sent to Bloomberg the company retracted those statements. An excerpt from the email reads:

"It is not correct to say that the SEC and FINRA approved Coinbase’s purchase of Keystone because [the] SEC was not involved in the approval process. The SEC’s approval is not required for the change of control application. Coinbase has discussed aspects of its proposed operations, including the acquisition of the Keystone Entity, on an informal basis with several members of SEC staff.

Read more here

Japan’s FSA Forms New Division to Keep Up With Crypto

The Japanese Financial Services Agency (FSA) has set up a new division, The Strategy Development and Management Bureau (SDMB), which will be tasked with tackling cryptocurrency, fintech, and money laundering matters. According to Nikkei, an Asian news outlet, the bureau will devise financial policy strategy and handle tasks that encompass wide-ranging fields, such as financial technology, virtual currencies, and money laundering.

Read more here

Blockchain Identity Verification Firm Civic Acquires Identity.com

Last Tuesday, blockchain startup Civic specialized in identity management has announced the acquisition of Identity.com, a decentralized identity verification ecosystem that connects users, requesters, and validators. In accordance with the announcement, Identity.com will be a first-of-its-kind decentralized platform that will open up access to on-demand, secure identity verification, powered by Civic tokens (CVCs). Blockchain startup Civic stated:

"Identity.com represents a completely new approach to managing a decentralized community. In March, we processed the first CVC-powered Know Your Customer (KYC) transactions, marking the first exchange of CVCs for identity verification services. Now, we are preparing to expand access to decentralized identity verification services."

Read more here

You42 - Tokenizing Entertainment

You42, the social entertainment platform for creators to create, publish, and monetize their works, has seen great success during the initial weeks of their ICO. By releasing their cryptocurrency, the U42 Token, You42 will raise the money it needs to maintain the platform and continue to help artists better connect with and reward their fans.

You42 was founded to counter the influence of large entertainment firms while giving consumers and creators new opportunities to engage with one another. The You42 platform lets them do this by:

• Creating Content- Creators can use the platform to release new games, music, artwork, articles, etc and monetize their work using the U42 Token.
• Rewarding Fans- Creators can use the platform to reward loyal fans with special discounts, early access to exclusive content, and direct communication through live chat, videos, and messages.
• Cultivating Convenience- You42 offers consumers the option of accessing all their favorite content from the same platform for a more convenient experience.

You42 is issuing a fixed total of 525 million Tokens, which will be traded at a rate of 1 ETH to 808 Tokens (current market rate). The sale has already raised $21.5 M. Through the ICO, You42 hopes to raise a total of USD $50 million. This will be used to fund content and user acquisition campaigns to attract engaged users and content creators.

Learn more about how you can become involved in this revolutionary platform and join the ICO at https://u42.io/.