Market Analysis Report

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index closed at 3,632.40 yesterday at 5 pm (GMT) and has since dropped 0.90%.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $6,637 representing a gain of 0.83% in the last 24 hours. More than $280 M worth of BTC were exchanged in the BTC/USD market representing a 20% share of the global daily volume. The BTC/JPY pair represents a 12% share.

The Ethereum price has increased 2.11% over the past 24 hours and is currently sitting at $229, with over $110 M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 17% market share of the daily trading volume.

For a detailed market analysis click here

Binance Labs Invests "Multiple Millions" Into "Mathematically Provable" Blockchain Security Development

Recently, Binance Labs, the incubator wing of the Binance cryptocurrency exchange, has reportedly invested “multiple millions” of dollars in CertiK, a formal verification platform to “mathematically prove” whether blockchain-based smart contracts are “bug-free” and “hacker-resistant". Ella Zhang, the head of Binance Labs, stated:

"CertiK mathematically validates the security of smart contracts, which is a critical pain point we are facing in the blockchain ecosystem, bypassing the limitations of manual detection."

Read more here

Dubai to Launch Blockchain Payments with State Digital Currency "emCash"

The UAE’s first official credit bureau, emCredit, together with the Dubai Department of Economic Development is pushing its official blockchain-encrypted state digital currency emCash for wider adoption by rolling out point-of-sale (PoS) devices at government storefronts across Dubai. Residents will soon have the means to make payments for school fees, bills and other retail purchases with emCash. According to CCN, a spokesperson for the state-backed subsidiary emCredit stated:

"To be the world’s first city to offer blockchain-based payment solutions to our residents is an exciting moment for Dubai…Deploying cutting-edge technology such as blockchain is a key priority and is delivering benefits to our citizens in the form of convenience and securities to customers and merchants across Dubai"

Read more here

UK Telecom Regulator Wins Grant to Study Blockchain

Recently, the Regulators' Pioneer Fund announced that it would award nearly £700,000 (just under $915,000) to Ofcom, the national telecommunications regulatory authority, "for a project that uses blockchain technology to improve U.K. telephone number management". Ofcom chief technology officer Mansoor Hanif stated: 

"We will be working with industry to explore how blockchain could make it quicker and easier for landline customers to switch providers while keeping their number – as well as reducing nuisance calls. And we'll expand our research into other areas where innovative technologies such as blockchain could be applied to benefit consumers."

Read more here

Recently added:

XCASH added to Coin List

Coinsbit added to Exchange List