Market Analysis Report

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index closed at 2,698.93 yesterday at 5 pm (GMT) and has since dropped 8.75%.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $4,960 representing a loss of 1.54% in the last 24 hours. More than $320M worth of BTC were exchanged in the BTC/USD market representing an 11.4% share of the global daily volume. The pair with most volume was the BTC/USDT with a 75.2% share.

The Ethereum price has risen 0.3% over the past 24 hours and is currently sitting at $163.6, with over $100M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 4.8% market share of the daily trading volume. The largest ETH trading pair was the ETH/USDT with a 52% share.

See live charts here and here

Coinsquare Will Launch Canadian Dollar-Backed Stablecoin

Coinsquare, one of Canada’s top cryptocurrency exchanges, will be launching a stablecoin backed by the Canadian dollar named «eCAD», according to a press release published yesterday. The new coin will be backed at a 1:1 ratio with Canadian Dollars. Coinsquare stated that the new coin will be a reliable and stable store of value that provides investors with an alternative to similar coins backed by the United States dollar. The announcement, however, did not provide a timeline for when the coin will officially be released. Cole Diamond, CEO of Coinsquare said:

“The launch of eCAD will create the first transparent, affordable, and secure way of transferring value in Canada and beyond, without the risk of instability in the traditional cryptocurrency market.”

Read more here

Cryptocurrency Exchange IronX Launches Following $26 Million ICO

Cryptocurrency exchange IronX has launched for the public following a $26 million Initial Coin Offering (ICO), The Fintech Times reported yesterday. IronX is a regulated trading platform that was jointly established by digital trading firm IronFX and EmurgoHK (developers of Cardano) in October last year.

Read more here

Bitrue Launches XRP-Based Trading Pair for Cardano (ADA)

Yesterday, Singapore-based cryptocurrency exchange Bitrue surprised the XRP community with the addition of another XRP-based trading pair: ADA/XRP. ADA's listing on Bitrue came with two other trading pairs: ADA/BTC and ADA/USDT. Since Bitrue already had 36 XRP-based pairs prior to today's announcement, this means that it now offers a total of 37 XRP-based trading pairs.

Read more here

DLease.io - A Startup offering passive returns to Crypto "Hodlers" with minimal downside risk

DLease.io, a new Steem-based application, recently launched its professional-grade leasing platform, which allows STEEM stakeholders to earn revenue via its peer-2-peer leasing program. Boasting average APR's of double digits over the past 12 months in its closed community beta, DLease offers passive returns uncommon in the cryptocurrency industry.

Influence on the Steem blockchain is directly related to stake (a.k.a STEEM Power). The bigger the stake, the greater the dollar value of upvotes given. DLease seeks to assist users who are lacking in stake-weighted social influence, offering them the ability to lease stake at a fraction of the cost of owning it, while retaining full control of private keys.

Leasing STEEM Power provides the ability for smaller accounts to benefit from greater resource utility, such as claiming free Steem accounts, or the ability to send bulk onchain memos, otherwise not possible as a small stakeholder.

DLease returns currently outpace those of real estate leasing, without the associated hassles and costs. In the property leasing sector, landlords pay land taxes, insurance, and maintenance, on top of dealing with tenants, defaults, vacancies and evictions; among the many pitfalls of physical property leasing. DLease eliminates most of these risks and provides ease of administration and fractional ownership.

Opportunities in crypto are limited to speculation. There are few opportunities offering passive income with double digital APR in the top 50 rated currencies.

BuildTeam.io, the developers behind DLease.io; spent the last two years proving that peer-to-peer leasing is a sustainable approach and have been generating a consistent average APR of nearly 17% to date, with bursts in the 20 and 30 percentile range. Due to the growth, Steem is experiencing; this figure could increase as STEEM becomes more expensive when markets recover and more apps and users join the network, requiring leased resources to operate effectively.

Read more here