Market Analysis Report

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index has closed at 5,165.61 with a loss of 0.38% for the day.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $7,950 representing a loss of 3.62% in the last 24 hours. More than $600 M worth of BTC were exchanged in the BTC/USD market representing a 13.1% share of the global daily volume. The BTC/JPY pair represents a 54.4% share.

The Ethereum price has dropped 3.37% over the past 24 hours and is currently sitting at $465, with over $100 M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 13.4% market share of the daily trading volume.

See live charts here and here

SEC Says No to Winklevoss Twins’ Bitcoin ETF Application for The Second Time

Yesterday, the U.S. Securities and Exchange Commission (SEC) disapproved a Bats BZX Exchange application to list the Winklevoss Bitcoin ETF via a filing, which stated that SEC was not convinced that the market would have adequate surveillance. On the filing, the SEC explained that whether the BZX proposal is consistent with Exchange Act Section 6(b)(5), the rules of a national securities exchange have to be designed 'to prevent fraudulent and manipulative acts and practices' and 'to protect investors and the public interest.' However, SEC also mentioned that it isn't ruling out the possibility of approving Bitcoin ETFs in the future:

"The Commission notes that regulated bitcoin-related markets are in the early stages of their development. Over time, regulated bitcoin-related markets may continue to grow and develop. For example, existing or newly created bitcoin futures markets may achieve significant size, and an ETP listing exchange may be able to demonstrate in a proposed rule change that it will be able to address the risk of fraud and manipulation by sharing surveillance information with a regulated market of significant size related to bitcoin, as well as, where appropriate, with the spot markets underlying relevant bitcoin derivatives"

Read more here

OKCoin Joins SharesPost’s Upcoming Revolutionary GLASS Network

Last Wednesday, a leading provider of private company liquidity solutions and private capital markets research, SharePost, announced that OKCoin had become the first cryptocurrency exchange to join its upcoming Global Liquidity And Settlement System (GLASS) network. According to the GLASS white paper, the GLASS network allows crypto exchanges to pool liquidity and/or settle compliant cross-border token trades by connecting with counterparties on other exchanges. Furthermore, it allows exchanges to list tokens that might be considered securities even if these exchanges don't have any kind of regulatory approval for selling securities, providing that there is a GLASS network member that has the necessary licenses to be able to act as the "settlement provider". OKCoin CEO, Tim Byun, stated:

"The adoption of digital assets will continue to accelerate, and security tokens are going to play a major role in that growth in the years ahead. We’ve always focused on offering customers the broadest choice and a premier user experience. Partnering with SharesPost on GLASS is another opportunity that enables us to continue advancing our customer solution and philosophy on a global scale.”

Read more here

MyEtherWallet Launches Mobile ‘Hardware Wallet’ App Beta for iOS

Last Wednesday, the Ethereum wallet interface MyEtherWallet (MEW) has launched a mobile ‘hardware wallet’ app for iOS named "MEWconnect". In accordance with an official blog post, the app will allow users to log into the service without using their private keys and to use a cold-storage wallet on a mobile phone. However, the app is still in beta version and the team recommended not to use the beta version as a permanent ETH storage solution since this version is to be used for testing and debugging. 

Read more here

LEDU Tokens Now Listed on BitForex

Education Ecosystem’s LEDU token is now listed for trading on one of the Top crypto exchanges, BitForex. This new exchange listing is something which LEDU token holders have been looking forward to for some time and the team has delivered on the needs of their community. To keep LEDU trading pairs uniform across all exchanges, BitForex will offer LEDU trading with an ETH pair. BitForex announced that withdrawals, deposits, and trading would be available from Thursday, July 26th.

Read more about the listing here.