Market Analysis Report

15 October 2018

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index closed at 3,246.52 Yesterday at 5 pm (GMT) and has since increased 5.94%.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $6,639 representing a gain of 5.1% in the last 24 hours. More than $750 M worth of BTC were exchanged in the BTC/USD market representing a 31% share of the global daily volume. The BTC/KRW pair represents an 11% share.

The Ethereum price has increased 5.51% over the past 24 hours and is currently sitting at $212, with over $260 M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 24% market share of the daily trading volume.

For a detailed market analysis click here

Coinbase Confirms Shutdown of Crypto Index Fund Product

Last Friday, a spokesperson from Coinbase announced that the company is shutting down its institutional-investor focused index fund product. As stated, the crypto index will be formally closed by the end of the month, with customers instead directed to the recently-announced Coinbase Bundle product. The Coinbase Bundle product unlike the index fund, is open to all Coinbase customers, with no accreditation required. The minimum required investment is only $25 as well, compared to $250,000 for the fund. The spokesperson said:

"After assessing demand from retail, accredited and institutional investors, Coinbase has decided to shut down Coinbase Index Fund. We will focus on providing diversified exposure to all investors through Coinbase Bundle"

Read more here

Ethereum Classic Incubator Program Receives 120 Start-Up Applications

Recently, Elizabeth Kukka, Program Director at ETC Labs, gave an interview explaining how the Ethereum Classic (ETC) incubator (ETC Labs) is doing. Since the launch on the 1st of October, ETC Labs has, according to Elizabeth Kukka, already received around 120 applications so far. ETC Labs is currently in its pilot program and the official launch is set to the first quarter of 2019. ETC Labs' Program Director explained:

"Pilot projects get free working space, great coffee, and the opportunity to work alongside some of the best minds in the business. They will also have the opportunity to pitch their ideas to a roomful of investors at our launch event on October 25th. The goal of this pilot program is to put the incubator model to work and get feedback from these initial teams before going live.”

Read more here

UK Cryptocurrency Regulations May Take 2 Years for Lawmakers to Draft

Recently, James Kaufmann, Legal Director at Reynolds Porter Chamberlain (RPC) UK, said it could take two years to introduce such regulations due to a couple of reasons. To achieve the results within such a timeline is based on a best-case scenario where the proposals with the House of Commons Treasury Committee report starts to progress. Kaufmann stated:

“Past precedents show it can take years to make relatively minor regulatory changes to the financial regulatory regime. For example, it took two and a half years from the Treasury’s original announcement (10 May 2004) for the regulation of home reversion plans to come in force (6 November 2006).”

Read more here

North Dakota Regulator Issues Cease and Desists Against 3 ICOs

Last week, The North Dakota Securities Department issued cease-and-desist orders against three companies promoting initial coin offering (ICO) in the state. Karen Tyler, the Securities Commissioner, named Crystal Token, Advertiza Holdings (Pty) Ltd., and Life Cross Coin aka LifecrosscoinGmbH, as the latest offenders involved in illegal business practices related to cryptocurrencies. The North Dakota Securities Department stated:

"The Orders are the result of investigations being conducted by the Department’s ICO Task Force, convened by the Commissioner to identify ICOs and cryptocurrency related investments that pose a risk to North Dakota investors. The effort is also part of Operation Cryptosweep, a coordinated multi-jurisdiction investigation and enforcement effort involving over 40 U.S. and Canadian securities regulators. The companies that are the subject of the orders are Crystal Token, Advertiza Holdings (Pty) Ltd., and Life Cross Coin a/k/a LifecrosscoinGmbH."

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:

Xchange added to Coin List

Bitsler added to Spend List

Press Release

State of the Crypto

Bitcoin is up 5.1% at $6,639.910 with a volume of Ƀ113.0k - $753.3M on the USD pairs.

Ether is down 0.31% against Bitcoin at Ƀ0.03169 per Ether and up 5.51% against the dollar to $212.47 with average volume Ƀ47.8k on the ETH/BTC pair.

Bitcoin Cash is down 2.75% to Ƀ0.0694 with volumes of Ƀ21.1k and up 3.34% against the dollar at $465.93.

Ripple is up 0.57% to Ƀ0.00006718 with volumes of Ƀ14.6k and up 6.94% against the dollar at $0.4531.

Zcash is down 3.76% for the day to Ƀ0.01689 per ZEC and up 2.83% against the dollar to $114.46 with an average volume of Ƀ5.1k for the 24 hour period.

Litecoin is up 1.99% against the dollar for the day at $54.4 and down 2.31% to Ƀ0.008257 on volumes of Ƀ7.6k.

Dash is down 3.96% at Ƀ0.02473 with Ƀ5.9k volume and up 3.64% against the dollar at $169.57.

Iota is down 2.16% to Ƀ0.00007651 on Ƀ1.3k volume.

Ether Classic is down 5.77% to Ƀ0.001436 with volumes of Ƀ9.2k and up 0.83% against the dollar at $9.73.

Monero is up 3.23% against the dollar at $107.1 and down 2.82% against Bitcoin at Ƀ0.01587 on volumes of Ƀ1.7k.

Neo is down 4.45% for the day to Ƀ0.002449 per NEO and up 3.31% against the dollar to $16.87 with an average volume of Ƀ11.5k for the 24 hour period.

Waves is down 1.78% to Ƀ0.0002987 on Ƀ823.868 volume.

Stratis is down 4.11% to Ƀ0.0002076 on Ƀ126.411 volume.

Cardano is down 3.96% to Ƀ0.00001115 on Ƀ2.3k volume.

NEM is down 3.41% to Ƀ0.00001445 on Ƀ585.223 volume.

EOS is down 2.36% to Ƀ0.0008113 on Ƀ14.6k volume.

Tron is down 3.64% to Ƀ0.00000371 on Ƀ8.6k volume.

Stellar is down 0.97% to Ƀ0.00003381 on Ƀ2.7k volume.

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