Market Analysis Report

09 November 2018

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MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index closed at 3,569.57 yesterday at 5 pm (GMT) and has since dropped 2.70%.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $6,394 representing a loss of 1.65% in the last 24 hours. More than $245 M worth of BTC were exchanged in the BTC/USD market representing a 12.8% share of the global daily volume. The BTC/KRW pair represents a 26.4% share.

The Ethereum price has dropped 2.27% over the past 24 hours and is currently sitting at $210, with over $55 M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has an 8.9% market share of the daily trading volume.

For a detailed market analysis click here

SEC Charges EtherDelta Founder Over 'Unregistered Securities Exchange'

Yesterday, the U.S. Securities and Exchange Commission (SEC) has charged Zachary Coburn, the founder of cryptocurrency exchange EtherDelta, with operating an unregistered securities exchange. According to the SEC, Etherdelta which acts as a secondary market for trading ERC-20 tokens, had been providing a marketplace for buyers and sellers to trade ethereum tokens that the SEC deemed to be "digital asset securities." The US body regulator stated:

"Almost all of the orders placed through EtherDelta's platform were traded after the Commission issued its 2017 DAO Report, which concluded that certain digital assets, such as DAO tokens, were securities and that platforms that offered trading of these digital asset securities would be subject to the SEC's requirement that exchanges register or operate pursuant to an exemption."

Read more here

Canadian Bank Opens Deposit Box for Cryptocurrency Firms

Yesterday, the Canadian bank, VersaBank, announced that its subsidiary VersaVault initiated commercialization stage of its digital safety deposit box for cryptocurrency exchanges and crypto investment funds. As stated by the bank, VersaVault has successfully completed beta testing and has already received over 200 inquiries. VersaBank CEO, David Taylor, stated:

"While many are considering ideas and plans for a digital safety deposit box, we have designed and built it, and are now commercializing a first of its kind service that provides our clients with the most sophisticated security and authentication technology available globally, in which our clients enjoy absolute privacy."

Read more here

Cobinhood Adds Four Stablecoins to Their Exchange

Cryptocurrency exchange Cobinhood announced yesterday in a press release, that they will be adding four USD stablecoins to their exchange, starting today (November 9, 2018). The stablecoins added are the Gemini Dollar (GUSD), MakerDao (DAI), Paxos Standard Token (PAX) and TrueUSD (TUSD). Cobinhood Co-founder, Wei-Ning Huang, explained:

"The biggest flaw in the market right now is uncontrolled fluctuations in the value of many customary cryptocurrencies. We are increasing the presence of stablecoins on the COBINHOOD exchange so the community understands that their voices have been heard and stability is being made possible...Our mission is to make the space more approachable for anyone who wants to participate."

Read more here

MJAC Conference

Dear users, it’s with great pleasure that we invite you to attend the MJAC blockchain conference.

Hosting the biggest and brightest blockchain leaders, the MJAC conference will be the perfect place to learn, network and discuss the future of the crypto industry.

The event counts with a long list of sponsors and media partners. You can count on a great variety of exhibitions booths and many prominent speakers. The list of speakers includes the founder of Atlas Neue and former CCO of Ethereum Stephan Tual, Circle’s European Legal & Business Director Claire Wells, Global CMO and EMEA Managing Director at Circle Marieke Flament, Ripple’s Head of European Regulatory Relations Dan Morgan, founder of Atlas Neue Cassius Kiani, Head of ICO Advisory at NKB Group Marina Titova, CEO and Co-founder of Coinfloor Ltd Obi Nwosu, and European Marketing Lead at Coinbase Joseph-Daniel Millwood, among many others.

The event will take place November 30th on Old Billingsgate, a historical event venue located in the heart of London.

Get your tickets here (use the CC30 discount code to get 30% off)

Press Release

State of the Crypto

Bitcoin is down 1.65% at $6,394.400 with a volume of Ƀ38.5k - $248.7M on the USD pairs.

Ether is down 0.51% against Bitcoin at Ƀ0.03291 per Ether and down 2.27% against the dollar to $210.22 with average volume Ƀ33.4k on the ETH/BTC pair.

Bitcoin Cash is down 0.24% to Ƀ0.091 with volumes of Ƀ37.5k and down 1.88% against the dollar at $582.41.

Ripple is up 0.29% to Ƀ0.00007879 with volumes of Ƀ23.0k and down 1.37% against the dollar at $0.5042.

Zcash is up 3.82% for the day to Ƀ0.02067 per ZEC and up 1.92% against the dollar to $132.47 with an average volume of Ƀ8.5k for the 24 hour period.

Litecoin is down 2.56% against the dollar for the day at $52.08 and down 0.87% to Ƀ0.008159 on volumes of Ƀ12.1k.

Dash is down 2.68% at Ƀ0.02544 with Ƀ14.4k volume and down 4.26% against the dollar at $163.31.

Iota is down 1.8% to Ƀ0.00007466 on Ƀ503.832 volume.

Ether Classic is up 1.44% to Ƀ0.001483 with volumes of Ƀ10.7k and down 0.21% against the dollar at $9.5.

Monero is down 3.81% against the dollar at $107.3 and down 2.17% against Bitcoin at Ƀ0.01667 on volumes of Ƀ1.6k.

Neo is down 1.38% for the day to Ƀ0.002505 per NEO and down 3.36% against the dollar to $16.09 with an average volume of Ƀ12.1k for the 24 hour period.

Waves is down 0.78% to Ƀ0.0002791 on Ƀ539.904 volume.

Stratis is down 3.52% to Ƀ0.0002332 on Ƀ268.106 volume.

Cardano is down 0.75% to Ƀ0.00001186 on Ƀ1.7k volume.

NEM is down 0.48% to Ƀ0.00001441 on Ƀ315.55 volume.

EOS is up 0.49% to Ƀ0.0008581 on Ƀ19.0k volume.

Tron is down 1.37% to Ƀ0.00000359 on Ƀ1.4k volume.

Stellar is up 3.61% to Ƀ0.00004048 on Ƀ4.8k volume.

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