Market Analysis Report

21 September 2018

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index closed at 3,224.32 yesterday at 5 pm (GMT) and has since increased 4.04%.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $6,566 representing a gain of 2.31% in the last 24 hours. More than $370 M worth of BTC were exchanged in the BTC/USD market representing a 25% share of the global daily volume. The BTC/JPY pair represents a 10% share.

The Ethereum price has increased 7.44% over the past 24 hours and is currently sitting at $224, with over $200 M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 19% market share of the daily trading volume.

See live charts here and here

SEC Sets New Deadline for Decision on VanEck-SolidX Bitcoin ETF

Yesterday, the U.S. Securities and Exchange Commission (SEC) announced that it needed more time to make a decision regarding the VanEck-SolidX Bitcoin ETF, and it set 29 December 2018 as the new deadline. According to the Section 19(b)(2)(B) of the Exchange Act, the new deadline is 180 days after the date of publication of the proposal in the Federal Register, which means 180 days after 2 July 2018 or 29 December 2018. SEC stated: 

"This order institutes proceedings under Section 19(b)(2)(B) of the Act to determine whether to approve or disapprove the proposed rule change."

Read more here

Coinbase Claims It Doesn’t Engage in Proprietary Trading

Recently, cryptocurrency exchange Coinbase has denied engaging in proprietary trading. Reports claiming Coinbase engaged in proprietary trading started appearing after the New York state’s Attorney General (NYAG) published a report, that claimed the firm accounted for nearly 20% of the transactions on its own platform. Through a Medium post, Mike Lempres, Coinbase chief policy advisor, noted the report’s findings were based on information Coinbase voluntarily provided in the Virtual Markets Integrity Initiative Questionnaire but denied engaging in proprietary trading. Lempres stated: 

"Coinbase does not trade for the benefit of the company on a proprietary basis. In order to provide an easy-to-use customer experience, Coinbase Consumer quotes a price and then quickly fills the order from our exchange platform (Coinbase Markets)."

Read more here

Europol Report Warns Against Growing Criminal Abuse of Cryptocurrencies

Europol has recently warned against cryptocurrency-related threats like hacks and cryptocurrency mining malware, and the use of privacy coins to launder money or finance terrorism. In its “Internet Organized Crime Assessment 2018 (IOCTA) report, the EU-focused law enforcement agency warned those in the cryptocurrency space they’re becoming a target for cybercriminals, over the semi-anonymous nature of most cryptocurrencies like bitcoin. Europol stated: 

"They remain the primary payment mechanism for the payment of criminal services, a plethora of goods on Darknet markets and for extortion demands, whether as a result of ransomware, DDoS attacks, or other methods."

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)

Animoca Brands Teams Up With OST to Develop Blockchain-Powered Mobile Games

Hong Kong based Animoca Games announced a strategic partnership with OST to develop blockchain games on OST technology and the OpenST and OpenST Mosaic Protocols.

Animoca Brands is an ASX-listed leading mobile games developer with over 300 million downloads of their games, including Beast Quest, Garfield and Masters of the Universe.

By partnering with OpenST and OST, Animoca Brands is building a powerful strategic foundation for long-term blockchain development, and securing a savvy partner who has already produced a high-demand utility token and an innovative tokenisation platform.”, says Yat Siu, Co-Founder and Board Director of Animoca Brands.

OST is developing the world’s first full-stack Blockchain solution to help onboard mainstream companies. The gaming industry is a natural fit as players have extensive experience with virtual currencies, and developers can leverage OST products and expertise to build next-generation mechanics and economics into their games.

Read the full announcement and watch the interview with Yat Siu and Dr. Chris Dark, CCO & Co-Founder of OST, to learn more about the partnership.

Press Release

State of the Crypto

Bitcoin is up 2.31% at $6,566.070 with a volume of Ƀ57.1k - $370.3M on the USD pairs.

Ether is up 4.97% against Bitcoin at Ƀ0.03423 per Ether and up 7.44% against the dollar to $224.62 with average volume Ƀ56.7k on the ETH/BTC pair.

Bitcoin Cash is up 8.36% to Ƀ0.0722 with volumes of Ƀ31.8k and up 11.11% against the dollar at $474.62.

Ripple is up 40.23% to Ƀ0.00007174 with volumes of Ƀ46.8k and up 43.25% against the dollar at $0.47.

Zcash is up 2.75% for the day to Ƀ0.01831 per ZEC and up 5.27% against the dollar to $120.15 with an average volume of Ƀ4.2k for the 24 hour period.

Litecoin is up 6.48% against the dollar for the day at $57.38 and up 4.18% to Ƀ0.008752 on volumes of Ƀ12.3k.

Dash is up 4.62% at Ƀ0.03127 with Ƀ9.2k volume and up 6.88% against the dollar at $205.09.

Iota is up 4.31% to Ƀ0.00008639 on Ƀ1.4k volume.

Ether Classic is down 1.48% to Ƀ0.001659 with volumes of Ƀ12.2k and up 4.64% against the dollar at $11.28.

Monero is up 6.09% against the dollar at $118.13 and up 3.45% against Bitcoin at Ƀ0.01797 on volumes of Ƀ3.1k.

Neo is up 6.95% for the day to Ƀ0.002864 per NEO and up 9.67% against the dollar to $18.83 with an average volume of Ƀ4.1k for the 24 hour period.

Waves is down 3.33% to Ƀ0.0003429 on Ƀ1.5k volume.

Stratis is up 3.44% to Ƀ0.0002133 on Ƀ242.698 volume.

Cardano is up 13.56% to Ƀ0.00001281 on Ƀ5.3k volume.

NEM is up 6.4% to Ƀ0.00001429 on Ƀ791.211 volume.

EOS is up 6.81% to Ƀ0.0008734 on Ƀ22.2k volume.

Tron is up 7.94% to Ƀ0.0000034 on Ƀ7.2k volume.

Stellar is up 14.17% to Ƀ0.00003683 on Ƀ8.2k volume.

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