Market Analysis Report

14 March 2018

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index has closed at 6,867.39 with a gain of  0.05% for the day.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $9,131 representing a loss of 0.79% in the last 24 hours. More than $1.1B worth of BTC were exchanged in the BTC/USD market representing a 23.25% share of the global daily volume. The BTC/JPY pair represents a 55.7% share.

The Ethereum price has dropped 1.02% over the past 24 hours and is currently sitting at $691.83, with over $180M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 29.3% market share of the daily trading volume. The ETH/BTC pair represents a 42.1% share.

For a more detailed market analysis click here

Japan to Call for Crypto Rules at the G20 Summit

Next week, on the G20 meeting in Argentina, Japanese representatives will push for the adoption of global rules on cryptocurrencies. The meeting will gather finance ministers and central bankers to put crypto matters on the table. The Japanese authorities were among the first to adopt a regulatory framework with a mechanism to oversee trading on registered cryptocurrency exchanges. Their new initiative aims at implementing international guidelines for the quickly developing crypto industry.

Read more here

Binance Is Launching Its Own Blockchain

Yesterday, the Binance CEO, Changpeng Zhao said that a decentralized exchange will be launched and will operate alongside with its existing exchange. In addition to facilitating the trade of digital assets, the DEX will likely operate as a launchpad for new coins and ICOs. A post on Twitter reads:

"As a public blockchain, Binance Chain will mainly focus on the transfer and trading of blockchain assets, as well as provide new possibilities for the future flow of blockchain assets. Binance Chain will focus on performance, ease-of-use, and liquidity. Binance Coin (BNB) will be upgraded to exist on its own blockchain mainnet, becoming a native coin. At the same time, Binance will transition from being a company to a community."

Read more here

Coinbase Receives E-Money License from UK Financial Regulator

The U.K.'s Financial Conduct Authority granted Coinbase an e-money license. The license now enables the company the ability to provide payment services and issue digital cash alternatives, which can then be used to make card, internet or phone payments. A Coinbase spokesperson clarified that e-money is different from cryptocurrencies. As such, the license comes with stringent regulations designed to protect customers. The statement reads:

"We are committed to making sure customer funds are always secure and this update means that our e-money operations have safeguards and operational standards at par with other regulated financial institutions. An example of this is segregation of client funds, where all customer fiat balances will be separated from Coinbase's funds and kept in separate bank accounts."

Read more here

Paytomat - Deflating the Bubble

As prices continue to skyrocket in the crypto market, the future of cryptocurrencies and blockchain technology seems bright. However, the long-term success of the cryptocurrencies depends largely on their long-term adoption as a global payment system. Paytomat is a platform that incentivises transactional usage of cryptocurrencies through its built-in infrastructure and services. The team aims to kickstart crypto mass adoption by making it easier for merchants to accept cryptocurrency payments and by providing customers with additional incentives. The following analogy, taken from Paytomat’s white paper, describes their goal perfectly:

“Like the body weakened by the disease, the blockchain economy still has a sufficient internal immune system to gradually fight back, tear away its toxic assets and eliminate get-rich-quick-and-forget-it-all projects out of the system. However, to achieve this objective, it should get permanent and sufficient nutrition from cross-pollinating with the real economy. That is why at Paytomat we are working day-by-day to bring real-life transactions to your blockchains and to ‘deflate the bubble’, slowly but decisively.”

Read more here

Eken Cloud Mining promises a turnaround in the cloud mining sector!

EKEN Cloud Mining company appears in the mining market with very low prices compared to the competition. EKEN Cloud Mining was founded in 2016 and has its mining operation in Canada. The company provides daily payouts with a minimum amount of 0.0047 BTC and 0.12 ETH.

With EKEN Cloud Mining services users can mine Bitcoin, Ethereum, Zcash, Dash or even Monero. EKEN takes care of the hardware configuration, maintaining uptime and selecting the most efficient and reliable pools. Since customers can purchase any amount of mining power they want, the level of investment will depend only on the costumer's ambition.

EKEN Cloud mining is greatly suited for novice miners who would like to try out mining and earning cryptocurrency, but don’t want the hassle or risks of hosted or home-based mining.

To learn more about EKEN click here

Enkidu: Disrupting The Way You Start and Run Companies

Out of this recently huge ICO fog comes one startup that’s disrupting a concept that has largely been left undisrupted over the last century. Enkidu wants to revolutionize how the entire world creates and runs companies.

When Varun Mayya, the CEO of Enkidu shows what the platform does, the implications hits the user right in the face:

"We want to merge the payment gateway, the cap table (revenue sharing table) and the log of business decisions taken by a team".

Anyone that ever started a company before, knows the pain. Enkidu claims to make starting and running a business a walk in the park. The company makes running a small business easy, without the necessity of registering or auditing a company entity at all.

With Enkidu, they can decide what percentage of the business each person owns. This split of revenues is stored in what is called a cap table. When an inbound payment comes in via that project’s payment gateway (provided by Enkidu), that payment is automatically split according to the cap table. The team can also decide to reserve some percentage of revenues in a treasury, which can be utilized via a virtual visa to pay vendors and buy tools the company might need.

To learn more about Enkidu click here

Recently Added:

KNW added to Ongoing ICO list

VLX added to Coin list

Velox added to Exchange list

Press Release

State of the Crypto

Bitcoin is down 0.79% at $9,131.500 with a volume of Ƀ122.5k - $1123.4M on the USD pairs.

Ether is down 0.35% against Bitcoin at Ƀ0.07595 per Ether and down 1.02% against the dollar to $691.83 with average volume Ƀ30.1k on the ETH/BTC pair.

Bitcoin Cash is up 0.97% to Ƀ0.1143 with volumes of Ƀ14.6k and up 0.39% against the dollar at $1043.25.

Ripple is up 0.36% to Ƀ0.00008533 with volumes of Ƀ6.2k and down 0.43% against the dollar at $0.7797.

Zcash is up 0.06% for the day to Ƀ0.03125 per ZEC and down 0.62% against the dollar to $288.52 with an average volume of Ƀ1.6k for the 24 hour period.

Litecoin is down 1.91% against the dollar for the day at $173.64 and down 1.09% to Ƀ0.01902 on volumes of Ƀ12.8k.

Dash is down 1.38% at Ƀ0.05352 with Ƀ4.2k volume and down 0.88% against the dollar at $497.44.

Iota is up 0.84% to Ƀ0.000144 on Ƀ1.4k volume.

Ether Classic is down 2.95% to Ƀ0.002168 with volumes of Ƀ4.5k and down 3.59% against the dollar at $19.86.

Monero is down 3.14% against the dollar at $249.79 and down 2.32% against Bitcoin at Ƀ0.02731 on volumes of Ƀ4.5k.

Neo is down 2% for the day to Ƀ0.009085 per NEO and down 2.4% against the dollar to $83.36 with an average volume of Ƀ3.6k for the 24 hour period.

Waves is up 2.01% to Ƀ0.0006199 on Ƀ2.5k volume.

Stratis is up 0.96% to Ƀ0.0005994 on Ƀ418.813 volume.

Cardano is up 3.09% to Ƀ0.00002466 on Ƀ3.9k volume.

Market risers
1 STORM +84.67%
2 DKD +56.54%
3 VERI +50.38%
4 LINDA +50.00%
5 CJ +46.67%
Market losers
1 W3C -86.67%
2 PROFIT -48.13%
3 TDX -45.46%
4 PDC -32.11%
5 HVCO -27.38%
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