Market Analysis Report

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index closed at 1,950.37 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 $3,567 representing a gain of 0.01% in the last 24 hours. More than $125M worth of BTC were exchanged in the BTC/USD market representing a 15.6% share of the global daily volume. The BTC/JPY pair represents a 9.6% share.

The Ethereum price has increased 0.46% over the past 24 hours and is currently sitting at $116.8, with over $40M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has an 8.3% market share of the daily trading volume.

See live charts here and here

Yen-to-Bitcoin Stablecoin Approved in ‘Sandbox’ by Japanese Regulators

A Japanese yen-backed stablecoin has been approved for test usage and licensing by the Japanese Financial Services Agency (FSA), in Japan’s so-called “sandbox” legal regime. The coin was conceived by a Japanese fintech firm, Crypto Garage, and a subsidiary of tech company Digital Garage, Inc. The license will last for one year and has the stated objectives of:

"Testing and validating the secure transfer of crypto assets on a sidechain network and the possibility of building a stable and healthy OTC market by improving transparency for the price-making process."

Read more here

South Korean Exchange Loses $5 Million in Accidental Airdrop

South Korean crypto exchange Coinnest announced last week that approximately 6 billion Korean won (around $5.3 million) in Bitcoin and other cryptocurrencies were sent to customers due to a system error, according to CoinDesk Korea. The exchange was trying to airdrop We Game Tokens (WGT) when the incident occurred. Coinnest’s server issues were resolved by Jan. 19, and the company plans to roll back transactions to restore its assets. It has also asked customers to return funds they received by mistake, and as of Jan. 19, about half of the won was returned.

Read more here

Google Fined - $57 Million in Landmark GDPR Case

The French regulators imposed the fine of 50 million euros (roughly $57 million) on Google following the results of an inquiry into GDPR compliance complaints put forward by French privacy rights organisations None Of Your Business and La Quadrature du Net. According to the French Commission Nationale de l’Informatique et des Libertés (CNIL), Google failed to satisfactorily inform users about how their data is collected and used in serving advertisements and marketing messages. The agency also stated that Google failed to properly obtain user consent for the purpose of using their data to serve them personalised ads. Confirming the fine, an official statement released on CNIL’s website said:

"On 21 January 2019, the CNIL’s restricted committee imposed a financial penalty of 50 Million euros against the company GOOGLE LLC, in accordance with the General Data Protection Regulation (GDPR), for lack of transparency, inadequate information and lack of valid consent regarding ads personalization."

Read more here

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