Market Analysis Report

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index closed at 2,955.74 yesterday at 5 pm (GMT) and has since increased 0.29%.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $6,346 representing a gain of 0.61% in the last 24 hours. More than $290 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 9% share.

The Ethereum price has dropped 1.04% over the past 24 hours and is currently sitting at $194, with over $140 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

LA Dodgers: the ‘First Crypto Giveaway in Sports

On the 21st of September, the American professional baseball team based in Los Angeles, California, The Dodgers, will hold their first-ever Digital Bobblehead against the Padres. Fans will have the opportunity to download a Clayton Kershaw, Justin Turner or Kenley Jansen Crypto token. The promotion is the first of its kind in Major League Baseball and believed to be the first Crypto giveaway in sports. The first 40,000 ticketed fans in attendance will receive a card with a unique code and directions to a website where a digital bobblehead can be unlocked and added to their Ethereum wallet. Lon Rosen, Dodger Executive Vice President and Chief Marketing Officer stated:

“We’re excited for our first-ever Crypto giveaway, and to explore an entirely new marketplace with our fanbase. We hope this piques the interest of Dodger fans, and will help launch a new age of digital collectibles and promotions.”

Read more here

IMF Advises Against Crypto as Legal Tender in the Marshall Islands

The International Monetary Fund (IMF) has advised against the Republic of the Marshall Islands' plan to introduce a digital currency as a second legal tender alongside the U.S. dollar. The Marshall Islands – a remote chain of islands in the central Pacific – passed a law on the issue in February, aiming the planned the "Sovereign" cryptocurrency to boost the local economy and counter the increasing risks of the nation becoming disconnected from the global financial system.

However, following a period of consultation with officials from the islands, the IMF published a paper on Monday advising against the move. According to the paper, the Marshall Islands economy is now "highly dependent" on external aid, as the country faces constant climate change and natural disasters. The IMF stated:

"In the absence of adequate risk mitigating measures, the issuance of a decentralized digital currency as a second legal tender would not only increase macroeconomic and financial integrity risks but elevate the risk of losing the last U.S. dollar CBR."

Read more here

S.Korea’s Central Bank Sweats Over ‘Kimchi Premium’

While South Korea’s government policies have largely nullified the so-called ‘Kimchi Premium’ in cryptocurrency prices, the country’s central bank has called for continued monitoring into markets. Officials at the Bank of Korea (BOK), the country’s central bank, have called for continued vigilance into South Korean crypto trading markets in an attempt to keep a lid on the heightened premiums of cryptocurrency in particular – prices on domestic exchanges compared to spot prices on global exchanges. Korea’s Financial Services Commission Kim Yong-bum said:

“The government’s practical policies led the ‘Kimchi Premium’ to disappear in South Korea. At its peak, the ‘Kimchi Premium’ in the local cryptocurrency exchange market reached 50%, due to an unusual spike in demand and speculation."

Read more here

Enjin Smart Wallet becomes the world’s first cryptocurrency wallet to support rich ERC-1155 and ERC-721 data

Enjin has released its latest update to the Enjin Smart Wallet, which showcases rich data and images for ERC-721 and ERC-1155 tokens (in addition to currently supporting 700+ cryptocurrencies). The update is expected to transform the gaming industry, with players now able to see, store, receive, and protect their items in a decentralized manner, thereby giving them true sovereignty over their in-game assets.

The wallet will initially support War of Crypto, Gods Unchained, and CryptoKitties, with many additions from various industries soon to come. Due to the ERC-721 standard’s design, each legacy token will need to be added to the wallet manually. However, ERC-1155 tokens will be automatically integrated into the wallet as they are created, offering frictionless support for ERC-1155 adopters. To celebrate this event, Enjin is giving wallet users who register at https://enj.li/giveaway a free multiverse item that will be usable in several different games.

The Enjin Smart Wallet features a clean and intuitive interface, fingerprint login, the ability to monitor and manage unlimited blockchain addresses. The wallet also implements more vigorous security measures than most banking and finance apps, utilizing NSA-grade AES-256 encryption, Arm Compiler, RAM and Hardware Encryption, and a keylogger-proof keyboard.