Market Analysis Report

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index closed at 2,114.28 yesterday at 5 pm (GMT) and has since increased 1.73%.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $3,847 representing a gain of 0.07% in the last 24 hours. More than $160M worth of BTC were exchanged in the BTC/USD market representing a 10% share of the global daily volume. The BTC/JPY pair represents an 8% share.

The Ethereum price has dropped 1.13% over the past 24 hours and is currently sitting at $138, with over $120M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has an 8% market share of the daily trading volume.

See live charts here and here

Coinbase Partners with SoFi to Provide Crypto Trading Services

San Francisco-based cryptocurrency exchange Coinbase has partnered with SoFi, a lending firm, in order to provide a cryptocurrency investment service. According to CNBC, Coinbase’s management will be helping SoFi launch a platform that allows users to check crypto prices in real-time and also buy and sell coins. As described in the announcement, the digital asset trading service will be integrated into the existing SoFi Invest platform, which was launched this month. Commenting on the joint initiative, Anthony Noto, the CEO at SoFi, remarked:

"Our target audience wants to see what the price of cryptocurrency is and to buy it. They have a desire to do that and in many cases they already are."

Read more here

Hacked Exchange Cryptopia Discloses Estimate of Stolen Crypto

New Zealand-based cryptocurrency exchange Cryptopia has provided an estimate of the losses arising from a hack on its platform last month. After being almost silent since the breach, yesterday the firm published a series of updates via Twitter. Most notably, Cryptopia provided an update on how much of the total assets held by the platform was lost in the cyber-attack, saying:

“We are continuing to work on assessing the impact incurred as a result of the hack in January. Currently, we have calculated that worst case 9.4% of our total holdings was stolen."

Read more here

European Regulatory Chair Supports New Digital Asset Regulations

The chairman of the European Securities and Markets Authority (ESMA) has said that he supports further regulations on digital assets, political news outlet Roll Call reported yesterday. Delivering his speech at the FinTech Conference 2019 earlier this week in Brussels, Belgium, ESMA Chairman Steven Maijoor reportedly outlined the need to apply regulations to digital assets in order to help investors. He also expressed his support for expanding Europe’s Anti-Money Laundering (AML) requirements to include those involved in the exchange of one crypto asset to another and not just the exchange between crypto and fiat currency. Maijoor stated:

“Where crypto assets do not qualify as financial instruments, we are concerned that the absence of applicable financial rules leaves consumers exposed to substantial risks. [...] This makes it plain to see that we cannot legally qualify crypto assets via a ‘one size fits all’ approach.”

Read more here