Market Analysis Report

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index closed at 2,306.20 yesterday at 5 pm (GMT) and has since dropped 0.04%.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $4,036 representing a loss of 0.28% in the last 24 hours. More than $170M worth of BTC were exchanged in the BTC/USD market representing a 14% share of the global daily volume. The BTC/JPY pair represents a 12% share.

The Ethereum price has dropped 2.44% over the past 24 hours and is currently sitting at $150, with over $70M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 9% market share of the daily trading volume.

See live charts here and here

Coinbase Says ETC Attack Included $500,000 in Double Spends

Contradicting reports from the Ethereum Classic camp, cryptocurrency exchange Coinbase announced this afternoon that the apparent ETC blockchain reorganization attack had been followed by around half a million dollars in double spends. According to Coinbase, the firm first identified the deep chain reorganization on Jan. 5, at which point it halted on-chain ETC payments to protect customers — and the crypto exchange itself — from falling prey to a double spend attack. The company stated:

"On 1/5/2019, Coinbase detected a deep chain reorganization of the Ethereum Classic blockchain that included a double spend. In order to protect customer funds, we immediately paused movements of these funds on the ETC blockchain. We observed repeated deep reorganizations of the Ethereum Classic blockchain, most of which contained double spends. The total value of the double spends that we have observed thus far is 88,500 ETC (~$460,000)."

Read more here

Japan’s Financial Regulator May Approve Crypto ETFs

Japan’s Financial Services Agency (FSA) is apparently open to approving crypto exchange-traded funds (ETFs). Yesterday, on a Bloomberg report citing a person “familiar with the matter,” said that the FSA is currently ascertaining institutional interest in ETFs that track cryptocurrencies and could ultimately give them the go ahead.

Japan’s ruling Liberal Democratic Party will reportedly submit draft legislation by March 2019, that could include such a move through amendments to existing financial rules. The bill, which would also bring in more self-regulatory oversight of the industry and class many ICO tokens as securities, could come into law by 2020, the report indicated.

Read more here

Epic Games Is Not Accepting Cryptocurrency Payments

Several news publications over the last week reported that Fortnite merchandise store was accepting payments in Monero (XMR). It all started when Riccardo Spagni, the lead maintainer of the Monero project tweeted: "Fortnite merch store lets you pay in Monero". According to Epic Games CEO Tim Sweeney, the whole incident was “accidental” as it was actually a payment partner that enabled the Monero payments. The CEO and founder of Epic Games, the gaming company that developed Fortnite, denied the involvement with cryptocurrencies on Twitter:

"Googling this, there’s quite a rumor mill out there. No, Epic doesn’t have any cryptocurrency partners and aren’t in any crypto partnership discussions with anyone. We do read lots of papers and talk to smart people to learn more in anticipation of an eventual intercept."

Read more here

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