Market Analysis Report

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index closed at 3,538.33 yesterday at 5 pm (GMT) and has since dropped 9.03%.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $6,258 representing a loss of 4.37% in the last 24 hours. More than $590 M worth of BTC were exchanged in the BTC/USD market representing a 29% share of the global daily volume. The BTC/KRW pair represents a 12% share.

The Ethereum price has dropped 11.38% over the past 24 hours and is currently sitting at $198, with over $210 M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 22% market share of the daily trading volume.

For a detailed market analysis click here

The World’s First Production Bitcoin Sidechain

Yesterday, Blockstream, which specializes in "sidechain" technology for Bitcoin, announced that the Liquid Network, "the world’s first production Bitcoin sidechain", is now live. A sidechain can be defined as "a blockchain ledger that runs in parallel to a primary blockchain. Entries from the primary blockchain can be linked to and from the sidechain, this allows the sidechain to otherwise operate independently of the primary blockchain". According to Blockstream: 

"Exchanges that are members of the Liquid Network have the ability to send bitcoins to other participating exchanges through the Liquid Network. They can then do this on behalf of customers to send money between different exchanges."

Read more here

YoBit Exchange Says it Plans to Nakedly Pump Random Coins

In a Tweet published yesterday, YoBit exchange said that today it will inject 10 BTC (~$62,300) into 10 random markets. This could lead to significant price increases in thinly-traded microcap altcoin markets. Some users tagged the official Twitter accounts of regulatory agencies, alluding to the fact that the action could be illegal in many jurisdictions. On their twitter post, Yobit exchange stated: 

"YoBit Pump in 22 hrs: https://yobit.net/en/pump/timer/ We will buy one random coin for 1 btc every 1-2 mins 10 times (total buy amount - 10 btc)."

Read more here

CoinMarketBook Offers An Alternative To Market Cap

In the cryptocurrency market, most commentators use market capitalization as a metric of how large a cryptocurrency is. Market capitalization is a simple calculation: current price multiplied by total supply. This calculation is the easiest way to compare the size of different cryptocurrencies. But now CoinMarketBook.cc, a newly launched website, claims to show how much "buy support" is holding up the price of a number of cryptocurrencies. The "buy support" metric has been praised by some analysts as users can measure how many people are actually looking to buy the cryptocurrency, indicating real value and demand. CoinMarketBook which use the phrase “Market cap is a lie. Buy support tells the true story” as a website headline, stated:

“Buy support is the sum of buy orders from top 10 exchanges. This is the actual amount that people want to purchase.”

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:

TigerCash (TGR) added to Coin list

Mineroo added to Mining list