Market Analysis Report

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index closed at 2,310.46 yesterday at 5 pm (GMT) and has since increased 0.21%.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $4,137 representing a gain of 0.95% in the last 24 hours. More than $95M worth of BTC were exchanged in the BTC/USD market representing a 7.9% share of the global daily volume. The pair with most volume was the BTC/USDT with a 79% share.

The Ethereum price has risen 1.26% over the past 24 hours and is currently sitting at $143, with over $25M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 3% market share of the daily trading volume. The largest ETH trading pair was the ETH/USDT with a 52.5% share.

See live charts here and here

Crypto Exchange Bithumb Hacked for $13 Million

South Korean crypto exchange Bithumb had around $13 million in the EOS cryptocurrency stolen, in a hack that the company suspects was an insider job. The company confirmed in a statement on Saturday that it first spotted an “abnormal withdrawal” of the cryptocurrency through its monitoring system at 22:00 Korean time (13:00 UTC) on Friday, March 29. The exchange suspended asset withdrawals and deposits on the platform after noticing the breach and stated:

“All the [stolen] cryptocurrency is owned by the company, and all members’ assets are under the protection of a cold wallet.”

Read more here

Canadian Town Starts Accepting BTC for Property Tax Payments

The Canadian town of Innisfil, Ontario has announced it started accepting Bitcoin as a payment option for property tax payments, for a one-year trial that’s going to start in April. The payment option comes through a partnership with a Toronto-based cryptocurrency trading firm, Coinberry. The funds received in cryptocurrency will be processed “in accordance with strict adherence to existing financial regulatory requirements,” and instantly converted into Canadian dollars. Innisfil’s mayor, Lynn Dolin, was quoted as saying:

"There’s no doubt that cryptocurrency is growing in usage and popularity. By getting into this now, we are making sure our municipality is ahead of the game, and signalling to the world that we truly are a future-ready and innovative community."

Read more here

Coinbase Let's Institutional Investors Earn off of Their Tezos Holdings

Coinbase Custody has recently revealed it’s going to let institutional investors who use its platform, which are estimated to store around $600 million worth of crypto with it, stake Tezos (XTZ) tokens for passive income. According to the San Francisco-based cryptocurrency exchange’s announcement, institutional investors with Tezos on their accounts will be able to take advantage of the cryptocurrency’s staking model, as it doesn’t rely on mining as Bitcoin or Ether do.

Currently, anyone who holds roughly $10,000 worth of XTZ tokens – about 8,000 units – can participate in its proof-of-stake model by staking the tokens. This, however, comes at the cost of Coinbase’s 20% commission for the service. Tezos’ co-founder Kathleen Breitman was quoted as saying:

"The launch of Tezos staking through Coinbase Custody serves an acute need that existed up until now—a way for institutional players who want to rely on a custodian while taking an active role in the network."

Read more here

You’re invited! CryptoCompare Digital Asset Summit 2019

CryptoCompare Digital Asset Summit features one day of networking, partnership opportunities and expert talks on the latest trends in the industry, the increasing involvement of institutional investors, regulatory developments, and technical innovations. Delegates can look forward to a great wealth of quality talks and information shared by a stellar speaker line-up.

When: June 12, 2019

Where: 1 Old Billingsgate Walk, London EC3R 6DX, United Kingdom

Early Bird Tickets: https://summit.cryptocompare.com/

Prominent industry experts will be speaking at the event, including Andreas M. Antonopoulos as keynote speaker, Peter McCormack, host of "What Bitcoin Did" podcast, as MC, Gabor Gurbacs from VanEck, Zeeshan Feroz from Coinbase and many more.

Attendees can look forward to a great wealth of information, focusing on key trends for the digital asset space in 2019 including regulation, institutional investment, stablecoins, security tokens, crypto derivatives, and custody options.

In addition to networking, partnership opportunities and expert talks, delegates will have the chance to meet Andreas M. Antonopoulos - author of the best-selling Mastering Bitcoin, The Internet of Money Series and Mastering Ethereum - for a book signing session.

Get your Early Bird ticket today and save 50% on the general admission price. Offer expires soon!

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