Market Analysis Report

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index closed at 2,018.35 yesterday at 5 pm (GMT) and has since increased by 3.00%.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $4,017 representing a gain of 7.77% in the last 24 hours. More than $550 M worth of BTC were exchanged in the BTC/USD market representing a 23% share of the global daily volume. The BTC/JPY pair represents a 7% share.

The Ethereum price has increased 9.96% over the past 24 hours and is currently sitting at $114, with over $140 M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 14% market share of the daily trading volume.

See live charts here and here

OKEx Launches New Lending Portal, Offers Interest on Users' Cryptocurrencies

Yesterday, OKEx launched the private beta of their new lending product, OK PiggyBan. The new platform is connected directly to users accounts and is accessible via the website. The company also reveals that only cryptocurrencies with margin trading will be supported, which include: BTC, ETH, EOS, XRP, USDT, LTC, and ETC. They stated:

"We designed this new product with the special intention of providing our users a tool to make daily profits even in the current market. In addition to enjoying daily rewards, Users can transfer assets to and from the PiggyBank instantly without any minimum limit[...]"

Read more here

VNX Exchange Partners With The University Of Luxembourg

According to a recent publication from the Luxembourg Times, the VNX Exchange and the University of Luxembourg are officially teaming up to work on solutions to bolster digital asset security. Through the partnership, researchers at the university’s Interdisciplinary Centre for Security, Reliability, and Trust (SnT) will build new IT frameworks to help make exchange and custody of digital assets more secure. Founder and CEO of VNS, Alexander Tkachenko, commented:

“In creating a secure and regulatory compliant marketplace for the transparent trading of tokens representing digital assets we aimed to introduce modern security mechanisms that could totally secure our platform and could impact the global cybersecurity market”. Continuing, he added: “blockchain technology is the next big step in the financial sector's evolution”.

Read more here

Tether Now Allows Direct Redemption of USDT for USD From Its Platform

Yesterday, Tether, the issuer of fiat-collateralized stablecoin USDT, announced the launch of "a redesigned platform that allows for the verification of new customers and direct redemption of Tether to fiat". Tether says that the incredible popularity of USDT resulted in growth "at an unpredicted rate," which quickly made the initial model, which enables direct redemption of Tether to fiat through its native platform, unsustainable. They stated:

"Now, thanks to stronger banking as a result of our new relationship with Deltec, Tether is able to return to its original vision of having a wallet for creating and redeeming directly on its own platform without having to rely on a third party. This update allows the immediate withdrawal of Tether to fiat (1:1), with the ability to acquire coming soon."

Read more here