Market Analysis Report

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index closed at 1,930.20 yesterday at 5 pm (GMT) and has since dropped 5.01%.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $3,448 representing a loss of 3.81% in the last 24 hours. More than $150M worth of BTC were exchanged in the BTC/USD market representing a 13% share of the global daily volume. The BTC/JPY pair represents a 9% share.

The Ethereum price has dropped 7.99% over the past 24 hours and is currently sitting at $106, 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

Swiss Bank Partners With Bitstamp - BTC Funding and Withdrawals

Bitstamp announced on Friday that it has partnered with Dukascopy Bank, one of the leading Swiss online banks, to enable crypto funding on their platform. The exchange stated:

"Dukascopy’s clients can now send Bitcoins to their accounts and the crypto will be converted to US dollars, which they can use to trade on the Swiss FX Marketplace. Clients can also withdraw funds back to their cryptocurrency wallets in the form of Bitcoins."

Read more here

NYSE Arca Files Paperwork for Bitwise Bitcoin ETF

New details have emerged regarding the Bitcoin exchange-traded fund (ETF) proposed by Bitwise and NYSE Arca. The filed proposal refines on the methodology used, noting, for example, that the pricing will be “weighted such that Bitcoin prices from exchanges with a greater amount of the trading volume in the prior hour are weighted more heavily than Bitcoin prices from exchanges with lesser amounts of volume.” In previous ETF denials, the SEC has highlighted concerns about market manipulation, so the proposal says in that regard:

“The Exchange believes that the proposed rule change is designed to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest. Given the fungible nature of bitcoin, the Index Provider believes that the potential impact on Index values of individual exchanges experiencing outside attempts to manipulate either reported volume or reported prices is muted by the use of a large number of exchange price and volume inputs.”

Read more here

LocalBitcoins Revealed It Was Breached by an Unauthorized Source

Peer-to-peer cryptocurrency exchange LocalBitcoins has recently issued a statement about a security incident it suffered last weekend, that saw its users lose nearly 8 BTC (over $28,000) to a hacker who managed to phish their credentials. According to the company’s statement, the firm detected the security vulnerability at about the time it was being exploited by an “unauthorized source,” which managed to access and send transactions from “a number of affected accounts.”

Responding to the vulnerability the company, as CryptoGlobe covered, temporarily disabled outgoing transactions, and disabled its forums where the users were facing a fake login prompt that then stole their credentials. After identifying the cause, the company managed to stop the attack and stated:

"Outgoing transactions have already been re-enabled and we have taken a number of measures to address this issue and secure the limited number of accounts that might have been at risk."

Read more here