Market Analysis Report

17 January 2019

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index closed at 1,999.83 yesterday at 5 pm (GMT) and has since increased by 0.15%.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $3,629 representing a loss of 0.62% in the last 24 hours. More than $180M worth of BTC were exchanged in the BTC/USD market representing a 16.5% share of the global daily volume. The BTC/JPY pair represents an 8.4% share.

The Ethereum price has dropped 1.7% over the past 24 hours and is currently sitting at $121, with over $80M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has an 10% market share of the daily trading volume.

See live charts here and here

New Binance Exchange - Trade BTC and ETH With Fiat

Yesterday, cryptocurrency exchange Binance announced the launch of its newest fiat-to-crypto exchange in Europe. "Binance Jersey" is now online, and supports residents of 58 jurisdictions (not just those in Europe). The island of Jersey, which has a population of around 100,000 and is located near the coast of Normandy France, is officially not part of the UK, but as far as its relationship with the rest of the world is concerned, it is treated as a dependency of the UK. Binance's announcement on its website said that currently, four trading pairs are available: BTC/GBP, ETH/GBP, BTC/EUR, and ETH/EUR. The company stated:

"Binance is excited to announce that Binance’s EUR/GBP Fiat Exchange, Binance.je, is now online, with trading in BTC/GBP, ETH/GBP, BTC/EUR and ETH/EUR trading pairs now open. Registrations, deposits and withdrawals are now also available."

Read more here

TrustToken Develops Method of Managing Client Ethereum Addresses

TrustToken, the developer and issuer of TrueUSD, has come out with a new method for crypto exchanges to manage millions of addresses associated with TrueUSD and other ERC20 tokens. TrustToken developed the first publicly available method of easily handling thousands or millions of addresses within a single wallet, thus reducing the amount of Gas (Ethereuem used for transaction fees) required for the maintenance of wallets accepting TUSD.

The update to the TrueUSD smart contract does not only have to apply to TUSD. The token’s code is open-source, so other tokens and outfits can replicate the method. In a press release Monday, TrustToken's Head of Engineering Rafael Cosman describes the technology as such:

"While exchanges are currently able to set up individual addresses for users, there is no standardized process for the backend accounting for how these accounts are settled, and each transaction requires gas payments. AutoSweep is the first implementation of an ‘alias’ feature for an Ethereum-based token and allows exchanges to significantly improve both the accounting structure and save on time and gas cost by automatically sweeping user accounts to the central wallet."

Read more here

Bankrupt Bitcoin Miner Giga Watt Forced to Cease Daily Operations

Bankrupt U.S.-based Bitcoin mining firm Giga Watt has been forced to shut down its day-to-day operations. The firm sent an email to its customers on Tuesday, which states that, while it had continued to operate in the two months since the bankruptcy filing, “at present, both access and power to the facilities in which Giga Watt operates have been closed to the company.”

Andrey Kuzenny, a director owning a more than 10% stake in Giga Watt and an admin of the firm’s official Telegram channel, confirmed that the email was sent by the firm. The email went on to say that those who have completed their know-your-customer verification will be able to withdraw any cryptocurrency remaining in their wallets until March.

Giga Watt will also be returning some mining equipment back to customers, according to the email. Those customers who had their equipment removed before the lockout will be notified via email within the next two weeks. Others with equipment still trapped in the facilities will not be notified and any further information “will not be known, or available, pending current legal proceedings,” according to the letter.

Read more here

Recently Added:

Oduwa Coin added to the Coin List

How to Buy Bitcoin With EO.Finance

Whether you already own cryptocurrencies or are looking to buy them, keeping your crypto assets safe should be your top priority. The best way to do that is to keep your funds in a secure and trustworthy wallet.

EO.Finance is a licensed crypto and fiat wallet that supports more than 40 currencies and allows fast deposits and withdrawals through debit/credit card. EO.Finance was designed for all devices, including mobile (iOS and Android), desktop (PC and Mac), browser extensions (Firefox and Chrome), and a web version.

With so many features, EO.Finance is not just a mere wallet but rather an ecosystem of fintech services. The EO.Finance team is always looking to create value by constantly adding new products and services for its users. Their newest plan is to add a crypto debit card (EO Card), allowing customers to conveniently withdraw cash from ATMs around the world with low fees.

Another important addition to the ecosystem will be the EO referral program. Offering 30% of transaction fees for each referral, it is expected to be the highest paying crypto referral program of 2019. Putting customers first, EO.Finance has an excellent customer service that is available 24x7. The platform also includes its own cryptocurrency, the EO coin, which can be used to offer a 50% reduction on transfer fees.

With several partnerships and a great team, composed of more than 100 professionals in 6 different countries, EO.Finance has been a trustworthy company in the fintech space since 2014.

Read more here

Press Release

State of the Crypto

Bitcoin is down 0.62% at $3,629.770 with a volume of Ƀ49.8k - $181.5M on the USD pairs.

Ether is down 1% against Bitcoin at Ƀ0.03361 per Ether and down 1.71% against the dollar to $121.59 with average volume Ƀ72.3k on the ETH/BTC pair.

EOS is up 0.44% to Ƀ0.0006693 on Ƀ28.1k volume.

Ripple is down 0.4% to Ƀ0.00009048 with volumes of Ƀ27.1k and down 1.12% against the dollar at $0.3277.

Litecoin is down 1.81% against the dollar for the day at $30.9 and down 1.11% to Ƀ0.008551 on volumes of Ƀ26.4k.

Zcash is down 1.67% for the day to Ƀ0.01469 per ZEC and down 2.43% against the dollar to $53.4 with an average volume of Ƀ7.7k for the 24 hour period.

Dash is down 0.71% at Ƀ0.01952 with Ƀ7.4k volume and down 1.38% against the dollar at $71.37.

Tron is up 0.59% to Ƀ0.00000679 on Ƀ6.2k volume.

Ether Classic is up 0.34% to Ƀ0.001184 with volumes of Ƀ5.5k and down 0.69% against the dollar at $4.32.

Waves is down 0.9% to Ƀ0.0007123 on Ƀ4.7k volume.

Neo is up 0.43% for the day to Ƀ0.002097 per NEO and down 0.52% against the dollar to $7.66 with an average volume of Ƀ3.7k for the 24 hour period.

Bitcoin Cash is down 1.43% to Ƀ0.03515 with volumes of Ƀ2.8k and down 1.33% against the dollar at $127.08.

Cardano is up 2.72% to Ƀ0.00001247 on Ƀ2.2k volume.

Stellar is down 0.61% to Ƀ0.00002927 on Ƀ2.1k volume.

Monero is up 0.55% against the dollar at $45.92 and up 1.45% against Bitcoin at Ƀ0.01256 on volumes of Ƀ1.7k.

Stratis is down 4.44% to Ƀ0.000293 on Ƀ1.6k volume.

Iota is down 2.1% to Ƀ0.00008103 on Ƀ420.309 volume.

NEM is up 0.26% to Ƀ0.00001548 on Ƀ381.148 volume.

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