Market Analysis Report

13 March 2019

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index closed at 2,163.33 yesterday at 5 pm (GMT) and has since dropped 0.74%.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $3,879 representing a gain of 0.8% in the last 24 hours. More than $100M worth of BTC were exchanged in the BTC/USD market representing a 7% share of the global daily volume. The BTC/EUR pair represents a 2% share.

The Ethereum price has increased 0.92% over the past 24 hours and is currently sitting at $132, with over $50M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 3% market share of the daily trading volume.

See live charts here and here

Binance’s Trust Wallet Adds Support for XRP & Credit Card Payments

Cryptocurrency exchange Binance’s official wallet, Trust Wallet, now lets users buy cryptocurrencies with credit cards. The new payment option is being offered in partnership with Israel-based payments processor Simplex, according to an announcement from Binance yesterday. At the same time, the exchange said, Trust Wallet is adding support for XRP, the third largest cryptocurrency by market capitalization. The announcement did not specify which cards are supported or other details such as fees. Viktor Radchenko, the founder of Trust Wallet, said:

“We want to increase access to crypto and decentralized applications for all users. Adding credit card payments is one piece to furthering cryptocurrency adoption and realizing our larger vision in helping to bring the freedom of money, and we will continue to integrate more blockchains and features to Trust.”

Read more here

SEC Chair Clayton Affirms ETH Is Not a Security

The United States Securities and Exchanges Commission (SEC) Chairman, Jay Clayton, confirmed that Ethereum (ETH) and cryptocurrencies like it aren’t securities under U.S. law, according to a report published yesterday by Coin Center, a crypto research organization. 

Last year, SEC Director of Corporation Finance William Hinman said during a speech that ethereum, the No. 2 coin by market cap, did not exhibit the properties of a security. Congressman Ted Budd asked for clarification on whether SEC Chairman Jay Clayton agreed with Hinman’s remarks. The regulator has now responded by saying he agrees “that the analysis of whether a digital asset is offered or sold as a security is not static and does not strictly inhere to the instrument.”

A cryptocurrency may be sold as a security when it is first launched if it meets the definition of an investment contract, but the digital asset may later be sold or offered to consumers without being investments, Clayton wrote in a letter dated March 7, adding:

“I agree with Director Hinman’s explanation of how a digital asset transaction may no longer represent an investment contract if, for example, purchasers would no longer reasonably expect a person or group to carry out the essential managerial or entrepreneurial efforts. Under those circumstances, the digital asset may not represent an investment contract under the Howey framework.”

Read more here

Thai SEC Approves Country’s First ICO Portal

Thailand’s securities regulator has approved the first Initial Coin Offering (ICO) portal in the country, according to a report published yesterday by the Bangkok Post. Archari Suppiroj, director of the fintech department at the SEC, told the Bangkok Post:

“Thailand's first authorized ICO portal is being finalized for official approval with the relevant government agencies such as the Commerce Ministry. [...] The first ICO deal will be available for public offering in the near future under the digital asset royal decree."

Read more here

State of the Crypto

Bitcoin is up 0.8% at $3,879.620 with a volume of Ƀ26.5k - $103.1M on the USD pairs.

Ether is up 0.18% against Bitcoin at Ƀ0.03409 per Ether and up 0.92% against the dollar to $132.9 with average volume Ƀ142.5k on the ETH/BTC pair.

EOS is up 2.19% to Ƀ0.0009337 on Ƀ62.5k volume.

Litecoin is up 4.62% against the dollar for the day at $56.66 and up 3.79% to Ƀ0.01453 on volumes of Ƀ49.5k.

Ripple is down 0.16% to Ƀ0.00007998 with volumes of Ƀ25.0k and up 0.68% against the dollar at $0.3105.

Dash is up 10.9% at Ƀ0.0238 with Ƀ14.1k volume and up 10.84% against the dollar at $93.74.

Zcash is up 3.52% for the day to Ƀ0.01353 per ZEC and up 6.8% against the dollar to $53.21 with an average volume of Ƀ11.3k for the 24 hour period.

Stellar is up 3.9% to Ƀ0.00002663 on Ƀ9.7k volume.

Neo is up 2.79% for the day to Ƀ0.002285 per NEO and up 3.2% against the dollar to $9.03 with an average volume of Ƀ9.1k for the 24 hour period.

Ether Classic is up 0.46% to Ƀ0.001096 with volumes of Ƀ8.7k and down 0.23% against the dollar at $4.28.

Bitcoin Cash is up 0.43% to Ƀ0.03303 with volumes of Ƀ7.7k and up 1.66% against the dollar at $127.97.

Tron is up 0.35% to Ƀ0.00000571 on Ƀ5.2k volume.

Cardano is up 1.5% to Ƀ0.0000122 on Ƀ3.5k volume.

Waves is up 4.54% to Ƀ0.0007099 on Ƀ2.5k volume.

Monero is up 3.71% against the dollar at $51.66 and up 3.24% against Bitcoin at Ƀ0.01306 on volumes of Ƀ2.3k.

Stratis is up 3.87% to Ƀ0.0002389 on Ƀ1.3k volume.

NEM is up 3.57% to Ƀ0.00001191 on Ƀ870.248 volume.

Iota is up 3.33% to Ƀ0.00007384 on Ƀ666.723 volume.

Trending forum posts