Market Analysis Report

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index closed at 2,031 yesterday at 5 pm (GMT) and has since dropped 12.2%.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $3,682 representing a loss of 3.7% in the last 24 hours. More than $310M worth of BTC were exchanged in the BTC/USD market representing a 19.2% share of the global daily volume. The BTC/JPY pair represents a 9% share.

The Ethereum price has dropped 5% over the past 24 hours and is currently sitting at $128, with over $150M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 12.6% market share of the daily trading volume.

See live charts here and here

Bitwise Asset Management Files With SEC for New Bitcoin ETF

Today, it was announced that Bitwise Asset Management, a provider of a number of crypto index funds, has filed an initial registration statement with the U.S. Securities and Exchange Commission (SEC) for a proposed new physically held BTC exchange-traded fund (ETF). The company believes its proposed ETF is different from previously filed proposals, as it will rely on regulated third party custodians to hold the physical coins and it will be based on a large number of cryptocurrency exchanges. John Hyland, Global Head of Exchange-Traded Funds for Bitwise, stated:

“Having a regulated bank or trust company hold physical assets of a fund has been the standard under U.S. fund regulation for the last 80 years, and we believe that is now possible with bitcoin.”

Read more here

Square Enix Joins the Blockchain Gaming Revolution

Today, it was reported that video game publisher Square Enix is looking into using blockchain technology for future game streaming. In a New Year’s letter to investors, Square Enix president Yosuke Matsuda discussed the company's interest in emerging technologies like blockchain and game streaming:

"With the subsiding of the cryptocurrency bubble, the use of blockchain technology has spread to a variety of non-cryptocurrency domains as well,(...) One has been the gaming space, where there have been some interesting developments with games and game platform services using blockchain technology. We are also very interested in potential applications for blockchain technology in the digital content space."

Read more here

Venezuela Fights US Sanctions Against Petro

Yesterday, it was reported that the Venezuelan government filed a complaint against the United States. The document shows that the United States government is being accused of infringing Venezuela’s rights under the General Agreement on Tariffs and Trade (GATT) and the General Agreement on Trade in Services (GATS). There is also a reference to Petro, the national cryptocurrency of Venezuela. According to the document, the US has imposed “discriminatory coercive trade-restrictive measures with respect to transactions in Venezuelan digital currency”. The complaint also reads:

"Furthermore, in as much as digital currencies originating in the United States are not subject to the same prohibitions as Venezuelan digital currencies, the United States is according less favourable treatment to Venezuelan financial services and service suppliers than to like domestic financial services and service suppliers."

Read more here

Recently Added:

Self Storage Coin added to Coin List