Market Analysis Report

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index closed at 1,881.01 yesterday at 5 pm (GMT) and has since increased by 0.58%.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $3,479 representing a gain of 1.07%% in the last 24 hours. More than $120M 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 increased 3.72% over the past 24 hours and is currently sitting at $109, with over $70M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 10% market share of the daily trading volume.

See live charts here and here

Hackers Stole Another $180K From Cryptopia Exchange

Hackers apparently still have control over New Zealand-based cryptocurrency exchange Cryptopia. Blockchain data analytics firm Elementus said in a blog post, on Tuesday, that Cryptopia’s hacker, after going quiet for some days, has stolen an additional 1,675 ether (~$181,000) from 17,000 wallets. The company stated:

“The hacker has the private keys and can withdraw funds from any Cryptopia wallet at will.”

Read more here

Swiss Startup to Make Physical Banknotes for the Marshall Islands

Swiss-based cryptocurrency hardware wallet manufacturer Tangem has reportedly won a contract with the Republic of the Marshall Islands to issue ‘physical banknotes’ for its decentralized cryptocurrency Sovereign (SOV). According to a recently published press release, Tangem will issue the banknotes so these can be used to store SOV tokens, which are going to be launched as an alternative legal tender to the US dollar.

The physical banknotes include a “secure blockchain-enabled microprocessor inside,” to offer the Marshall Islands’ citizens immediate transaction validation, and zero-fee transactions that won’t require an internet connection. David Paul, a minister-in-assistance to the Marshall Islands’ president, was quoted as saying:

"Tangem will help us ensure all citizens, including those living on more remote outer islands, are able to easily and practically transact using SOV."

Read more here

Chinese Police Seize $193 Million in Cash During Crypto Scam Bust

A report this week from CCTV News in China has revealed the details of a recent raid that took place in the in the Jian'an District of Xuchang City, involving a gang of cryptocurrency scammers. The details were only made public this week, and the Police says that they confiscated up to 1.3 billion Yuan or $193 million in the raid which in the form of cash notes stashed throughout a luxurious villa. The investigation took only two months and began after police received tips about a multilevel marketing scheme that was using the hype behind blockchain technology to hook investors into shady projects. CCTV News reported:

"Recently, the Public Security Bureau of Jian'an District, Xuchang, Henan Province notified a large-scale network pyramid scheme. The main suspects are hiding outside the country, remotely manipulating the network platform, using high returns as a bait, and developing a large number of off-line personnel to engage in pyramid schemes. Up to now, the police have arrested 27 suspects. In a house dedicated to hiding illegal income, the police seized up to 1.3 billion yuan in cash."

Read more here