Market Analysis Report

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index closed at 2,905.47 yesterday at 5 pm (GMT) and has since dropped 0.49%

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $5,249 representing a gain of 0.37% in the last 24 hours. More than $200M worth of BTC were exchanged in the BTC/USD market representing an 11% share of the global daily volume. The pair with most volume was the BTC/USDT with a 74.5% share.

The Ethereum price has risen 1.66% over the past 24 hours and is currently sitting at $181, with over $100M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 4.7% market share of the daily trading volume. The largest ETH trading pair was the ETH/USDT with a 54% share.

See live charts here and here

Nathaniel Popper: Facebook Seeking $1 Bln Funding For Cryptocurrency

Nathaniel Popper, the author of Digital Gold (one of the most popular books on Bitcoin), said via Twitter that Facebook is planning to get more venture capital firms to invest in the ongoing development of its cryptocurrency. According to Popper’s sources, Facebook’s management might be seeking investments of around $1 billion. Popper also stated that sources told him Facebook is “talking about using the money as collateral for its cryptocurrency.” Popper's post reads:

“Facebook has been designing the coin to keep a stable value, pegged to a basket of foreign currencies held in bank accounts.”

Read more here

Bitstamp Granted BitLicense To Expand Crypto Services in the US

Yesterday, the New York Department of Financial Services (NYDFS) awarded Bitstamp, one of Europe’s largest cryptocurrency exchanges, the 19th BitLicense, allowing the exchange to offer Bitcoin, Litecoin, Bitcoin Cash, Ether and XRP trading pairs to the state’s residents. To get to this point, Bitstamp and NYDFS have discussed various aspects of the exchange’s operation, Bitstamp's CEO Nejc Kodrič explained:

“There were questions all around how the matching engine works, how we store crypto, how we conduct audits. The license is a set of rules and procedures you have to follow on a daily basis, so once you do that you can receive a BitLicense.”

Read more here

Bitfinex Drops Minimum Balance to Trade on Crypto Exchange

Bitfinex has removed its $10,000 minimum equity requirement to start trading on the cryptocurrency exchange, enabling a broader range of investors to participate. The company, based in the British Virgin Islands, cited “overwhelming demand from a wide variety of traders” for the change. Jean-Louis van der Velde, CEO at Bitfinex, wrote on the company’s corporate blog yesterday:

“We simply could not ignore the increasing level of requests for access to trade on Bitfinex from a wider cohort than our traditional customer base. For the last six months, we have been working hard to ready our platform for a new wave of customer accounts and are now in a position to open Bitfinex to a wider audience. By dropping our minimum equity requirement, the only limits are now set by the traders themselves.”

Read more here

The Bitbond token (BB1) is a transferable bond that is issued on the Stellar blockchain. BB1 holders receive five payments per year. Four of these payments is 4% fixed interest, to be paid out quarterly (1% per quarter). The 5th payment is variable interest, which is dependent on the performance of underlying loans and paid out annually. Bitbond predicts that the total amount of interest will be 8% per year.

It has been reported that the Bitbond STO token sale reached over EUR 1 million in investments in the first 12 hours. The token sale is still live and discounts are available to new investors.

Regulated STOs undergo greater scrutiny compared to ICOs. There may be greater transparency and rigour than ICOs.

The securities prospectus for the Bitbond STO is written in compliance with EU Prospectus Regulation and was approved by BaFin, the German regulatory body for financial services. This STO is a public offering and is, therefore, the first of its kind.

So, what is Bitbond?

Bitbond is a blockchain based lending platform for small business. With 6 years of experience in the market, Bitbond has generated over USD 15 Million in loan volume from over 80 different countries.

The company connects borrowers to investors on a global scale and has raised over USD 20 million in debt and equity investment combined to date. To finance its fast-growing loan origination, Bitbond is running the STO to fund further loans on their platform.

Read more here

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