Market Analysis Report

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index has closed at 6,864.27 with a loss of 1.42% for the day.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $9,168 representing a loss of 3.95% in the last 24 hours. More than $1.5B worth of BTC were exchanged in the BTC/USD market representing a 26.45% share of the global daily volume. The BTC/JPY pair represents a 50% share.

The Ethereum price has risen 3.69% over the past 24 hours and is currently sitting at $697, with over $200M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 28.6% market share of the daily trading volume. The ETH/BTC pair represents a 40% share.

For a more detailed market analysis click here

South Korea Preparing To Reverse Ban On ICOs

According to the Korea Times, the ban on ICOs may be revoked by the same financial authorities that banned ICOs last year. An anonymous source allegedly said that the financial authorities have been talking with the country's tax agency, justice ministry and other relevant government departments to allow ICOs in Korea when certain conditions are met. However, there isn't an official announcement that acknowledges the unban of ICOs in Korea. A spokesperson from the South Korea Financial Services Commision stated:

"There are many speculating about the possibility of allowing ICOs. The FSC has acknowledged a third-party view regarding the issue, but there's nothing that we can say officially at the moment."

Read more here.

Genesis Mining Hit With Cease-and-Desist Order

Due to a cease-and-desist order released on March 9, cloud mining service Genesis Mining has been told to stop operating in the state of South Carolina. Genesis Mining and Swiss Gold Global Inc were named in the order, which says that mining contracts sold to state residents are considered securities. In the order, it was alleged that Swiss Gold Global Inc acted as a broker-dealer for Genesis. The order reads:

"At all times relevant to this order, Respondent Genesis Mining continuously offered investment opportunities in Mining Contracts to South Carolina residents through its website. At no time relevant to the events stated herein was Respondent Swiss Gold Global registered with the Division as a broker-dealer, and no exemption from registration has been claimed by Respondent Swiss Gold Global."

Read more here.

Binance Offers $250k For Information Leading To Hackers’ Arrest

Binance, a Hong Kong-based cryptocurrency exchange is offering the equivalent of $250,000 in cryptocurrencies for information that leads to the arrest of those responsible for an attack on its platform that took place last week. A post on the Binance blog reads:

"To ensure a safe crypto community, we can’t simply play defense. We need to actively prevent any instances of hacking before they occur, as well as follow through after-the-fact.”

Read more here.

Mastercard-certified Beluga Pay launches ICO with over 1,000 live merchants and partnerships

Beluga Pay, a mobile point of sale platform has been operating in Mexico since 2014 with over 1,000 merchants as Espiral Technologies and received Mastercard certification (page 6) for card processing. Beluga Pay is currently certified to process VISA and Mastercard.

Beluga Pay could also be called the OmiseGo of Latin America, focusing on providing mobile tools for merchants. The utility of the BBI token is used by merchants to instantly receive merchant deposits and loans. For example, if a merchant is paid on Friday night using a credit card, BBI can be used by the merchant to receive an instant merchant deposit in crypto. This form of factoring and instant settlement could be a huge and lucrative business for merchants of all sizes.

Beluga Pay has been featured in Bloomberg Latin America and has an executed partnership with Grupo Financiero Banorte (BMV:GFNORTEO), the largest domestically owned bank in Mexico, with over $70B in assets.  Furthermore, the platform counts Pioneer, a Dow-DuPont company, as an active customer. Beluga Pay offers custom mobile solutions to large enterprise customers who require back-office integration and custom white-label solutions.

The Beluga Pay team is selling BBI tokens in order to expand internationally and fund product development. The ICO will end on March 31st, so there are only a couple weeks left to be involved in Beluga Pay. Visit https://www.Belugapay.com for more details.