Market Analysis Report

12 October 2018

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index closed at 3,219.94 yesterday at 5 pm (GMT) and has since increased by 0.85%.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $6,276 representing a gain of 0.27% in the last 24 hours. More than $330 M worth of BTC were exchanged in the BTC/USD market representing a 19% share of the global daily volume. The BTC/KRW pair represents a 13% share.

The Ethereum price has dropped 1.78% over the past 24 hours and is currently sitting at $196, with over $160 M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 18% market share of the daily trading volume.

For a detailed market analysis click here

Bithumb has sold more than 38 percent of its total ownership

Yesterday, according to a report by CoinDesk Korea, Bithumb confirmed a deal with BK Global Consortium, a blockchain investment firm formed by BK Global, a plastic surgery medical group in Singapore where the largest cryptocurrency exchange in South Korea by trading volume, sold more than 38 percent of its total ownership to the blockchain consortium for 400 billion won, or $350 million. Kim Byeong-kun, a plastic surgery surgeon from Seoul National University College of Medicine stated:

"[Translated] The consortium has evaluated the value of Bitsum over 1 trillion won and signed an acquisition contract for about 400 billion won. The consortium is a global block-chain investment group led by Singapore-based BK Group. Through the business link with Bitsum, we plan to create Bitsum and synergy in various aspects such as settlement platform construction and the creation of a cryptographic ecosystem."

Read more here

Crypto.iq Responds to Genesis Vision’s Restriction of US Users

Recently, Genesis Vision, a company that aims to combine exchanges, brokers, traders and investors into a decentralized and open network, announced that it will stop US users from accessing its asset management platform when it launches on 30th of October, in a pre-emptive move to protect itself from any potential action by the U.S. SEC. Charlie Shrem’s Crypto.IQ has reacted to the decision, describing it as “smart” while berating the SEC for creating an environment of fear and uncertainty in crypto investment. Adding that it is understandable that Genesis Vision wants to cover its own bases, and they do not blame the company for protecting itself from the SEC. Crypto.iq stated:

'We would like American participation, but we don’t want to be 1Broker’ed by the SEC.' It’s the smart thing to do. Of course, we want access to the platform, but we also don’t want to torpedo the project before it can really take off.

Read more here

Chinese Government Should Launch its own Stablecoin

Recently, Li Liangsong and Wang Huaqing, researchers from the People’s Bank of China (PBoC), stated that the Chinese government should consider creating its own yuan-backed stablecoin on the CN finance bi-weekly magazine. The researchers expect that USD-backed stable coins will increase the role of the US dollar on a global scale and start suppressing other fiat currencies, the Chinese yuan being one of them. They stated:

"If the U.S. dollar-pegged stablecoins can eventually be widely recognized by the market and can prove their use in the real economy, we should double down on our research efforts [on the issue] and learn from relevant experience to support domestic institutions to issue yuan-pegged crypto stablecoins"

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)

Malta Blockchain Summit: Blockchain Hackathon and two-day ICO pitching session

Malta Blockchain SummitIn partnership with CryptoFriends, the Malta Blockchain Summit will stage a huge Blockchain Hackathon and two-day ICO pitching session

The global blockchain community will meet again in Malta for the Malta Blockchain Summit between November 1st and 2nd. The summit will bring together 5,000 delegates, 100 speakers and 150 partners from all around the world. Speakers and guests at the event are leaders in the fields of finance, technology and innovation and will include individuals like John Mcafee, Mike Butcher, John Matonis to name a few.

In partnership with CryptoFriends, the Malta Blockchain Summit will host Blockchain Hackathon and two-day ICO pitchingn session.

The Malta Blockchain Hackathon will be held from October 31st to November 2nd. This is your chance to impress some of the best in the business and to win a 50k prize. All members will be put in teams. The theme of this year’s blockchain hackathon will, for competitive reasons, be announced on the day. For more details and to apply click here.

The I CO pitching session will be held on November 1st and 2nd and will feature 30 ICO projects. Every selected ICO will get to pitch live (10 minutes) on the grand stage and then face a Q&A session from the official jury members, investors and the audience. For more details and to apply click here.

CryptoFriends has 25% discount for friends and partners. To qualify, use promo code CRYPTOFRIENDS when making a purchase here.

Press Release

State of the Crypto

Bitcoin is up 0.27% at $6,276.270 with a volume of Ƀ53.8k - $336.9M on the USD pairs.

Ether is down 1.94% against Bitcoin at Ƀ0.03137 per Ether and down 1.78% against the dollar to $196.53 with average volume Ƀ48.4k on the ETH/BTC pair.

Bitcoin Cash is down 0.67% to Ƀ0.07126 with volumes of Ƀ21.5k and down 0.74% against the dollar at $446.14.

Ripple is up 2.77% to Ƀ0.00006715 with volumes of Ƀ18.7k and up 2.95% against the dollar at $0.4223.

Zcash is down 2.12% for the day to Ƀ0.01756 per ZEC and down 1.87% against the dollar to $110.72 with an average volume of Ƀ5.6k for the 24 hour period.

Litecoin is up 2.13% against the dollar for the day at $52.67 and up 1.98% to Ƀ0.00843 on volumes of Ƀ9.5k.

Dash is down 1.68% at Ƀ0.02572 with Ƀ9.4k volume and down 1.42% against the dollar at $162.82.

Iota is down 2.22% to Ƀ0.00007931 on Ƀ1.3k volume.

Ether Classic is down 4.92% to Ƀ0.001508 with volumes of Ƀ12.8k and down 3.83% against the dollar at $9.53.

Monero is up 0.76% against the dollar at $103.84 and up 0.37% against Bitcoin at Ƀ0.01648 on volumes of Ƀ1.4k.

Neo is down 1.17% for the day to Ƀ0.002538 per NEO and down 0.87% against the dollar to $16.03 with an average volume of Ƀ15.8k for the 24 hour period.

Waves is up 2.18% to Ƀ0.0003051 on Ƀ991.997 volume.

Stratis is down 2.94% to Ƀ0.0002111 on Ƀ168.423 volume.

Cardano is down 2.16% to Ƀ0.00001177 on Ƀ2.3k volume.

NEM is down 1.14% to Ƀ0.00001477 on Ƀ669.525 volume.

EOS is down 2.85% to Ƀ0.0008253 on Ƀ14.4k volume.

Tron is down 1.13% to Ƀ0.0000035 on Ƀ8.0k volume.

Stellar is up 0.32% to Ƀ0.00003439 on Ƀ2.8k volume.

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