Market Analysis Report

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index has closed at 5,679.81 with a loss of 1.97% for the day.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $7,575 representing a gain of 1.21% in the last 24 hours. More than $500 M worth of BTC were exchanged in the BTC/USD market representing a 18.94% share of the global daily volume. The BTC/JPY pair represents a 56.4% share.

The Ethereum price has risen 2.01% over the past 24 hours and is currently sitting at $572.32, with over $200 M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 30.4% market share of the daily trading volume.

See live charts here and here

Tron Begins Transition to Its Own Blockchain

Tron (TRX), the tenth-largest cryptocurrency, has begun the transition from the Ethereum network to its own public blockchain. The network will remain in beta for most of June, providing developers with the opportunity to configure their wallets and browsers before the network goes live. Token migration will occur from June 21 to June 24, when users must deposit their ERC-20 tokens at participating cryptocurrency exchanges to receive an equivalent number of TRX on the new blockchain. Tron's founder, Justin Sun, stated:

“Our team maintains a high standard of excellence as we head towards becoming a mainstream public blockchain. The move of the TRON Protocol to MainNet makes it easier for developers to break away from Ethereum and opens up new doors towards better scaling, commercialization and express lanes needed for global dApp development.”

Read more here

Hackers Demand $1 Million in XRP After Bank Data Theft

Hackers who stole information on thousands of Canadian bank users have demanded $1 million-worth of the cryptocurrency XRP to not release the data trove. According to a CBC News report, the two banks hit by the breach, Bank of Montreal and CIBC's online bank Simplii Financial, have said that the personal information of a total of 90,000 account holders had been taken – including identifying data such as names, account numbers, passwords. The Bank of Montreal reportedly said:

"Our practice is not to make payments to fraudsters"

Read more here

Kuwait Bank Adopts Ripple for Instant Cross-Border Payments

The Kuwait Finance House (KFH) has become the Arab nation’s first bank to join RippleNet, an enterprise blockchain network from industry giant Ripple, for international remittance payments. In an announcement, the Kuwaiti bank confirmed its move to join RippleNet, a SWIFT-replacement global blockchain network that sees over 100 financial institutions including banks, payment providers, remittance operators and other financial institutions use the product for real-time clearing and settlement of international transactions. KFH, which is also Kuwait’s first Islamic bank, underlined its intention to use Ripple’s ‘unique tool’ for cross-border payments for its retail customers, stating:

"With this, KFH can provide instant and secure cross-border money transfers within seconds, with end-to-end visibility over the journey of the payment."

Read more here

Final speakers confirmed for CryptoCompare & MJAC London Blockchain Summit on 13 June 2018

The unique line-up will bring together top speakers from major forces in the industry. Among the confirmed speakers:

• Chris Burniske, Co-founder of Placeholder Ventures will talk about “Relative and Fundamental Valuation Approaches to Cryptoassets”
• Zeeshan Feroz, CEO (UK) of Coinbase will be presenting on “Cryptocurrencies: Creating an Open Financial System”;
• Claire Wells – Legal & Business Affairs Director for Europe at Circle will talk about regulation and what a future based on blockchain might look;
• Joshua Riddett, Founder & Managing Director of Easy Crypto Hunter will be examining crypto mining;
• Danny Aranda, Managing Director of Strategic Growth at Ripple, will be discussing “Blockchain and the Internet of Value”.

Exclusive offer: Get 40% off with the CRYPTOCOMPARE promo code.

Check the entire line-up and book your ticket now »

LocalCoinSwap - The Community-Owned P2P Exchange

If you invest in just one ICO this year, it’d make sense to choose the project which offers you quarterly dividends in a whole basket of top marketcap coins - and simultaneously gives you the chance to own a piece of the exchange itself. LocalCoinSwap has distilled the concept of peer to peer back to its essence, by creating a decentralized platform to facilitate direct transactions between its members.

Developing trading tools which are safe and intuitive to use in combination with a social layer, LocalCoinSwap is building the most inclusive cryptocurrency exchange to date - where any sovereign currency can be used to buy and sell a diverse range of cryptoassets, from any location on earth. 

All LCS Cryptoshare holders earn not only profit dividends but also a right to vote on the governance of the business, including which new coins are added and new technologies invested in.  Investing makes you part of a forward-looking community which will reward that confidence with transparent and robust returns via a smart contract in perpetuity, as long as you hold the Cryptoshares.

The crowdsale runs until June 15th, 2018, you can join it here - but almost 50% of the tokens are already sold.