Market Analysis Report

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index closed at 1,846.68 yesterday at 5 pm (GMT) and has since dropped 0.01%.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $3,450 representing a loss of  0.34% in the last 24 hours. More than $70M worth of BTC were exchanged in the BTC/USD market representing a 9% share of the global daily volume. The BTC/JPY pair represents a 10% share.

The Ethereum price has dropped 1.8% over the past 24 hours and is currently sitting at $107, with over $30M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 6% market share of the daily trading volume.

See live charts here and here

Exploit Found in Ethereum Parity Nodes, Fix Already Released

Yesterday, a bug was found in the Parity Ethereum node/wallet software, according to a notice on the official website. The bug opens an attack vector to Parity nodes, which attackers could have used to force nodes offline - threatening a sizeable proportion of the Ethereum infrastructure. Developers already produced a patch, which was announced on Parity's official twitter. The announcement reads:

"The fix is out—please update your nodes ASAP - https://github.com/paritytech/parity-ethereum/releases - While the vulnerability only directly affects Parity Ethereum nodes that serve JSON-RPC as a public service, we recommend everyone to update their nodes immediately."

Read more here

Iran Launches Gold-Backed Cryptocurrency

The Islamic Republic of Iran has launched a gold-backed cryptocurrency called “PayMon” in cooperation with four local banks and the Ghoghnoos Company. According to the Financial Tribune, the country has launched the gold-backed cryptocurrency in cooperation with the Parsian Bank, the Bank Pasargad, Bank Melli Iran, and Bank Mellat. An over-the-counter (OTC) cryptocurrency exchange called Iran Fara Bourse is also expected to adopt the cryptocurrency. The news outlet quoted Valiollah Fatemi, director at Ghoghnoos, who revealed the PayMon was set to be used to tokenize the financial institutions’ assets and properties.

Read more here

New Hampshire House Subcommittee Approves Bitcoin for Taxes Bill

Residents from the state of New Hampshire, otherwise known as the “free state,” may soon be able to pay their taxes using cryptocurrencies like Bitcoin. Over the last few weeks, the state’s legislators have been discussing the recently submitted bill, HB 470, which would allow residents to pay specific New Hampshire taxes with Bitcoin. HB 470 will address any accounting, valuation and management issues related to accepting cryptocurrencies, the bill states. Further, the plan will need to find a third party payment processor that will process digital asset transactions at no cost to the state.

“Implementation Plan for the State to Accept Cryptocurrencies as Payment for Taxes and Fees - The state treasurer, in consultation with the commissioner of the department of revenue administration and the commissioner of the department of administrative services, shall develop an implementation plan for the state to accept cryptocurrencies as payment for taxes and fees beginning July 1, 2020.”

Last week, the New Hampshire House Subcommittee unanimously approved the Bitcoin for taxes legislation and the bill’s amendments. HB 470 will now go back to the executive branches like the state’s Administration Committee for further voting.

Read more here