Market Analysis Report

08 February 2019

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index closed at 1,795.77 yesterday at 5 pm (GMT) and has since remained stable.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $3,380 representing a loss of 0.37% in the last 24 hours. More than $100M worth of BTC were exchanged in the BTC/USD market representing a 14% share of the global daily volume. The BTC/KRW pair represents an 11% share.

The Ethereum price has dropped 0.55% over the past 24 hours and is currently sitting at $104, with over $30M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 7% market share of the daily trading volume.

See live charts here and here

Ripple Teams With 11 New Universities for Blockchain Research Initiative

Yesterday, Ripple announced that it has partnered with another 11 universities for its blockchain research program, University Blockchain Research Initiative (UBRI). Joining the initiative are the National University of Singapore, the University of Sao Paulo, Institute for Fintech Research, Tsinghua University and eight universities in the US. The firm stated that its goal is to support academic research, technical development and innovation in the blockchain, cryptocurrency and, digital payments. On top of that, Ripple will also be hosting conferences and award scholarships to students pursuing work in the blockchain industry.

Read more here

Credit Suisse Arm Sees Blockchain Benefits After Fund Distribution Trial

Yesterday, the fund distribution arm of the Luxembourg Stock Exchange Fundsquare announced that the Credit Suisse Asset Management and Portugal-based bank Banco Best have “successfully processed live end-to-end fund transactions” using blockchain technology. As stated on the announcement, the firms used the FundsDLT platform, developed in a partnership with professional services firm KPMG and software provider InTech, for cross-border distribution of an investment fund. Besides that, Banco Best developed an API integration and created a custom app for the effort. Fundsquare said:

"With the successful completion of real, live transactions, we were able to prove that considerable benefits can be achieved with distributed ledger technology for both clients and asset managers."

Read more here

Bitcoin ETF Will 'Eventually' Be Approved, SEC Commissioner Says

Securities and Exchange Commission (SEC) Commissioner Robert J. Jackson Jr. has recently revealed he expects a Bitcoin Exchange-Traded Fund (ETF) to “eventually” be approved. On a recent interview, the SEC Commissioner said that he believes it's a matter of time until a Bitcoin ETF proposal is set to satisfy all of the regulator's requirements related to the cryptocurrency ecosystem’s liquidity, potential market manipulation, and custody concerns. Robert J. Jackson Jr said:

"Eventually, do I think someone will satisfy the standards that we’ve laid out there? I hope so, yes, and I think so. Getting the stamp of approval from the deepest and most liquid capital markets in the world is hard, and it should be. Once we make it available to everyday mom and pop investors, we are taking risks that Americans can get hurt."

Read more here

State of the Crypto

Bitcoin is down 0.37% at $3,380.200 with a volume of Ƀ30.6k - $103.6M on the USD pairs.

Ether is down 0.23% against Bitcoin at Ƀ0.03077 per Ether and down 0.55% against the dollar to $104.54 with average volume Ƀ54.0k on the ETH/BTC pair.

Litecoin is up 1.96% against the dollar for the day at $33.79 and up 2.34% to Ƀ0.009978 on volumes of Ƀ27.6k.

Ripple is up 0.28% to Ƀ0.00008558 with volumes of Ƀ21.9k and down 0.07% against the dollar at $0.2912.

EOS is down 0.04% to Ƀ0.0006912 on Ƀ21.1k volume.

Zcash is down 1.01% for the day to Ƀ0.01368 per ZEC and down 1.06% against the dollar to $46.78 with an average volume of Ƀ11.2k for the 24 hour period.

Dash is up 2% at Ƀ0.01988 with Ƀ7.1k volume and up 1.86% against the dollar at $68.33.

Bitcoin Cash is down 0.47% to Ƀ0.03382 with volumes of Ƀ5.9k and down 1.04% against the dollar at $114.51.

Ether Classic is up 4.02% to Ƀ0.001138 with volumes of Ƀ4.8k and up 3.72% against the dollar at $3.9.

Tron is down 0.66% to Ƀ0.00000754 on Ƀ2.7k volume.

Waves is down 2.84% to Ƀ0.0007323 on Ƀ2.3k volume.

Stellar is down 2.73% to Ƀ0.00002172 on Ƀ2.1k volume.

Neo is up 0.6% for the day to Ƀ0.002022 per NEO and up 0.58% against the dollar to $6.96 with an average volume of Ƀ1.9k for the 24 hour period.

Monero is up 1.08% against the dollar at $43.86 and up 1.19% against Bitcoin at Ƀ0.01278 on volumes of Ƀ1.2k.

Cardano is down 0.09% to Ƀ0.00001077 on Ƀ885.487 volume.

NEM is down 0.55% to Ƀ0.00001092 on Ƀ636.024 volume.

Iota is up 4.09% to Ƀ0.00007487 on Ƀ357.024 volume.

Stratis is up 1.19% to Ƀ0.0002218 on Ƀ322.805 volume.

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