Market Analysis Report

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index has closed at 6,837.94 with a gain of 0.50% for the day.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $8,120 representing a loss of 1.64% in the last 24 hours. More than $600 M worth of BTC were exchanged in the BTC/USD market representing a 20.55% share of the global daily volume. The BTC/JPY pair represents a 54.01% share.

The Ethereum price has dropped 2.84% over the past 24 hours and is currently sitting at $678.42, with over $250 M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 27.06% market share of the daily trading volume.

See live charts here and here

European Parliament Passes A Resolution To Support Blockchain Technology

Last Wednesday, Members of the European Parliament passed a resolution that aims to support the adoption of blockchain technology. The resolution proposed to recognize the role blockchain technology can play in enhancing innovation in Europe and around the world. During the voting process, the resolution received 52 votes in favour, 1 against and 6 abstentions which meant a positive step in the technology adoption. Ideally, the passage of the resolution will open doors for credible and binding laws that will govern the industry.

Read more here

Bitfinex Forces Users to Submit Tax Information

Cryptocurrency exchange Bitfinex has recently notified its users that they are required to submit their tax information, so the company can then send it over to the British Virgin Island’s (BVI) government which may exchange it with the tax authorities of the customer's country of residence. The exchange explained that under the laws of the British Virgin Islands, where the exchange is based, it is required to report certain account information to the BVI government. The exchange statement reads:

"The government of the BVI may then exchange information with the tax authorities of the customer’s country of residence, consistent with the British Virgin Islands law, the U.S. Foreign Account Tax Compliance Act (FACTA), and the Organization for Economic Co-operation and Development Common Reporting Standard (CRS).”

Read more here

Chinese IT Ministry Cryptocurrency Ratings Released

Yesterday, the Chinese Ministry of Industry and Information Technology disclosed its official cryptocurrency rating. According to the Chinese Ministry, the ratings were calculated on the basis of three indexes: technology, application and innovation in which Ethereum scored highly across all three, giving it a lead rating followed up by Steem, Lisk and NEO. Bitcoin appeared on the 13th place. On a Twitter post, the news outlet cnLedger stated:

"Public blockchain ratings by China's ministry is out: #Ethereum ranks top of the 28 cryptos evaluated Source"

Read more here

Join us at the CryptoCompare MJAC Blockchain Summit

CryptoCompare has teamed up with ADVFN and MJAC Disruptive Investment Conferences to create one of the biggest blockchain events to take place in the UK.

With over fifty leading companies exhibiting at the show, the one-day event will feature presentations and panels from major forces in the industry such as Ripple, Coinbase, Citi, BlockEx, Coinfloor and VanEck and will be followed by an after-show networking event.

Our users get an exclusive 40% discount by using the CRYPTOCOMPARE promo code at the checkout.

Get tickets here

Purse.io Saves You 20% on Amazon with Crypto

Purse.io can save you 20% on everything on Amazon when you shop with your Bitcoins. As of May 2018, they have saved 23k people $75,882.07... HOLY FIAT that’s a lot!

Also, Purse lets you get Bitcoin without a bank account by letting you buy items on Amazon for shoppers.

Buy on Amazon with cryptocurrencies!