Market Analysis Report

19 February 2019

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index closed at 2,183.40 yesterday at 5 pm (GMT) and has since increased by 3.80%.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $3,932 representing a gain of 4.79% in the last 24 hours. More than $350M worth of BTC were exchanged in the BTC/USD market representing a 17% share of the global daily volume. The BTC/JPY pair represents a 9% share.

The Ethereum price has increased 6.92% over the past 24 hours and is currently sitting at $149, with over $190M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 10% market share of the daily trading volume.

See live charts here and here

Bitmain Announces New Bitcoin Mining Chip - 29% More Efficiency

Yesterday, mining giant Bitmain Technologies announced its next-generation 7nm ASIC chip for mining SHA-256 cryptocurrencies like BTC and BCH. According to the company, the mining chip - BM1397, is more efficient when mining proof of work (PoW) coins and the new chips will be installed in the latest Antminer series of devices. The company’s press release explains:

"To achieve [better efficiency], Bitmain’s engineering team has thoroughly customized the chip design to optimize its architecture, circuit, and economics."

Read more here

Bitcoin Tips Over Lightning on Twitter

Announced last Saturday, the beta app Tippin has released a new Chrome Extension available to Google browser users. Over Twitter, app users can send bitcoin payments via the Lightning Network, considered a way to make bitcoin transactions feasible at a large scale for the first time. With the extension enabled, a little lightning bolt symbol pops up inside every tweet next to the more familiar “like” and “retweet” buttons. Tippin engineer Sergio Abril stated:

“In my opinion, tipping is going to be incredibly popular with the lightning network; It’s the first time we can send small amounts almost at no cost, and we can do it incredibly fast.”

Read more here

Germany Seeking Industry Feedback for National Blockchain Strategy

The German government is seeking industry feedback ahead of developing the country’s blockchain strategy by the summer. A Reuters report published yesterday, citing anonymous government sources, said that companies and industry groups “that could become stakeholders in a blockchain deployment process” have been invited to provide recommendations on the strategy.

Germany’s capital and largest city, Berlin, hosts around 170 blockchain startups, and the country is seeing “great interest” in exploring blockchain technology across various sectors, including automobile, pharma, energy and public sector administration, the report adds.

Read more here

CryptoCompare Publishes January 2019 Exchange Review

The January Monthly Review provides an overview of the current exchange landscape as well as a monthly evaluation of how spot volumes vs futures volumes have developed historically, including both crypto exchanges (BitMEX and BitflyerFX) and traditional exchanges (CBOE and CME).

The review also focuses on how volumes have developed historically for the top trans-fee mining and decentralised exchanges.

In January, we continue to see positive signs of a maturation of the crypto markets, with the news that CoinFlex will launch physically-settled bitcoin futures in February; Bittrex introducing an OTC trading desk, supporting 200 digital assets; Binance supporting fiat pair trading across 58 jurisdictions; Komid Exchange managers are sent to prison for faking volumes; and news that the VanEck-SolidX bitcoin ETF proposal was re-submitted by CBOE.

See highlights & full report »

Press Release

State of the Crypto

Bitcoin is up 4.79% at $3,932.590 with a volume of Ƀ91.9k - $356.6M on the USD pairs.

Ether is up 1.94% against Bitcoin at Ƀ0.03781 per Ether and up 6.92% against the dollar to $149.14 with average volume Ƀ131.6k on the ETH/BTC pair.

EOS is up 16.34% to Ƀ0.0009199 on Ƀ72.6k volume.

Litecoin is up 7.66% against the dollar for the day at $48.04 and up 2.86% to Ƀ0.01222 on volumes of Ƀ45.0k.

Bitcoin Cash is up 9.21% to Ƀ0.03793 with volumes of Ƀ37.2k and up 13.81% against the dollar at $148.55.

Ripple is up 6.56% to Ƀ0.00008842 with volumes of Ƀ33.6k and up 11.67% against the dollar at $0.3492.

Ether Classic is up 7.37% to Ƀ0.001209 with volumes of Ƀ10.0k and up 12.41% against the dollar at $4.8.

Neo is up 2.8% for the day to Ƀ0.002312 per NEO and up 6.84% against the dollar to $9.22 with an average volume of Ƀ9.3k for the 24 hour period.

Dash is up 3.49% at Ƀ0.02223 with Ƀ8.6k volume and up 7.91% against the dollar at $88.43.

Zcash is up 0.57% for the day to Ƀ0.01412 per ZEC and up 5.26% against the dollar to $56.28 with an average volume of Ƀ8.5k for the 24 hour period.

Tron is up 2.34% to Ƀ0.00000656 on Ƀ5.9k volume.

Waves is up 0.85% to Ƀ0.0007128 on Ƀ3.5k volume.

Stellar is up 5.71% to Ƀ0.0000226 on Ƀ3.5k volume.

Cardano is up 6% to Ƀ0.00001219 on Ƀ3.4k volume.

Monero is up 6.02% against the dollar at $52.45 and up 1.61% against Bitcoin at Ƀ0.01324 on volumes of Ƀ1.6k.

Iota is up 3.91% to Ƀ0.00007867 on Ƀ862.818 volume.

NEM is down 1.16% to Ƀ0.00001107 on Ƀ709.213 volume.

Stratis is down 1.08% to Ƀ0.0002298 on Ƀ531.141 volume.

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