Market Analysis Report

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index closed at 2,480.92 yesterday at 5 pm (GMT) and has since dropped by 0.16%.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $4,411 representing a loss of 1.86% in the last 24 hours. More than $520 M worth of BTC were exchanged in the BTC/USD market representing a 25.95% share of the global daily volume. The BTC/JPY pair represents a 9.07% share.

The Ethereum price has dropped 4.43% over the past 24 hours and is currently sitting at $126, with over $165 M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 15.58% market share of the daily trading volume.

See live charts here and here

Two South Korean Exchanges Go Offline after AWS Network Failure

Two prominent South Korean cryptocurrency exchanges went offline after Amazon Web Services (AWS) servers suffered a nationwide failure. AWS, one of the world’s leading companies in cloud computing services, suffered from an hour-long network failure in South Korea. The event was responsible for the outage experienced by Coinone and Upbit crypto exchanges. Coinone and Upbit have since resumed all trading services. Both exchanges were quick to make announcements apologizing and informing users. The AWS stated:

“Between 3:19 PM and 4:43 PM PST we experienced increased error rates in the [Asian-Pacific region] (...) The issue has been resolved and the service is operating normally.”

Read more here

Coinbase Faces New Bitcoin Cash-Related Insider Trading Lawsuit

San Francisco-based cryptocurrency exchange Coinbase is once again facing a class action lawsuit filed by traders, alleging there was insider trading ahead of its listing of Bitcoin Cash (BCH), the cryptocurrency created through a fork of the Bitcoin (BTC) network. According to Finance Magnates, the lawsuit was filed against the firm in the US District Court for the Northern District of California and sees the plaintiffs argue that the exchange “made false and deceptive statements” regarding the cryptocurrency’s listing.

Per the lawsuit, the plaintiffs allege Coinbase insiders were able to start buying BCH ahead of the listing, as they knew the cryptocurrency was going to be listed on the platform and would go through what’s known as the “Coinbase effect” – the price rise a crypto asset sees after being listed on the exchange.

Read more here

Major Banks Sign Up for New EU Commission Blockchain App Association

The European Commission is launching a new blockchain association next year and major banks are already on board. Spanish banking giant BBVA announced Tuesday that it and four other banks have joined the EC’s planned International Association for Trusted Blockchain Applications (IATBA), which could be a legal entity as early as first quarter of 2019. While the remaining banks were not named in official announcements, some sources say Santander is also one of the group.

The new association will have representatives from both public and private sectors with an aim to “garner support from private blockchain experts to contribute to outlining the EU’s strategy regarding these technologies,” the BBVA said. Carlos Kuchkovsky, BBVA’s head of research & development for new digital business said:

"The association could have an important role to play in terms of establishing blockchain best practice and standards and at avoiding fragmentation on a European level. Blockchain is not only a technology, but it engenders new business models creating a tokenized economy and paving the way to a decentralized economy in the future.”

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)

Recently added:

Nagezeni (NZE) added to Coin list

Moonlight (LX) added to Coin list