Market Analysis Report

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index closed at 2,210.32 yesterday at 5 pm (GMT) and has since dropped 1.07%.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $3,925 representing a loss of 1.57% in the last 24 hours. More than $130M worth of BTC were exchanged in the BTC/USD market representing an 8.6% share of the global daily volume. The pair with most volume was the BTC/USDT with a 79.5% share.

The Ethereum price has dropped 1.48% over the past 24 hours and is currently sitting at $134, with over $40M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 3.5% market share of the daily trading volume. The largest ETH trading pair was the ETH/USDT with a 50.5% share.

See live charts here and here

Bitmain’s IPO Application Has Officially Expired

Crypto mining giant Bitmain Technologies Holding Company ("Bitmain"), which was founded in 2013 and is headquartered in Beijing, announced today that the listing application it had submitted to the Stock Exchange of Hong Kong ("SEHK") on 26 September 2018 had "reached its 6-month expiration date." According to an update, earlier today on the website of the Hong Kong Exchanges and Clearing Limited (HKEx), of which SEHK is a wholly-owned subsidiary, the status of Bitmain's listing application has been marked as "Lapsed". Bitmain's blog post reads:

"Regulatory authorities, media, and the general public can be more inclusive to the young cryptocurrency and blockchain industry. We wish to restart the listing application work at an appropriate time in the future."

Read more here

OKEx Crypto Exchange Is Building a Blockchain

Crypto exchange OKEx said it plans to launch a decentralized exchange (DEX) on its own blockchain. The Malta-based company announced last Friday that its operations team has been developing a blockchain called OKChain, which will provide the underlying tech for its “first” decentralized exchange, OKDEx. OKChain is currently at the “final” development stage, the company said, adding that a test network launch is expected in June. Due to demand, the exchange said it will put OKB onto an ethereum ERC-20 standard blockchain by the end of April and will migrate all tokens to OKChain later and once the new network is “stable.” The announcement reads:

“OKB will be the native token of the OKChain network, which can be used to settle transaction fees, or used in the Dapps [decentralized apps] developed on OKChain.”

Read more here

CoinMarketCap Will Alter Listing Metrics After Fake Volume Research

Cryptocurrency website CoinMarketCap (CMC) has assured to rearrange how it ranks exchanges after recent research found strong indications of fake volume. The research from cryptocurrency index fund provider Bitwise claimed that CMC hosts almost entirely fake volume statistics. This, in turn, deceives investors and inflates the profile of affected coins, Bitwise explained in the report. Speaking to Bloomberg, CMC’s global head of marketing, Carylyne Chan, stated:

“For instance, if an exchange with low traffic has $300M volume and just 5 BTC in its wallet, users will be able to draw their own conclusions without the need for us to make arbitrary judgment calls on what is ’good’ or ’bad,’”

Click here to see the full Bitwise report
Click here to see CryptoCompare's latest Exchange Review

CryptoCompare Digital Asset Summit Announced

CryptoCompare has announced it's Digital Asset Summit 2019 along with an impressive speaker line-up - with Andreas M. Antonopoulos, a best-selling author, speaker, educator, and one of the world’s foremost bitcoin and open blockchain experts, delivering a keynote speech.

Attendees will also have the opportunity to hear from speakers including Coinbase UK CEO Zeeshan Feroz, VanEck’s Gabor Gurbacs, Global Digital Finance’s Teana Baker-Taylor, with additional speakers being confirmed daily. The event will be MCed by “What Bitcoin Did” podcast host Peter McCormack.

The event will focus on key trends for the digital asset space in 2019 including regulation, institutional investment, stablecoins, security tokens, crypto derivatives, and custody options. 

Early buyers get a 50% discount on the general admission ticket price.

Find out more »