Market Analysis Report

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index closed at 2,734.20 yesterday at 5 pm (GMT) and has since risen 2.60%.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $5,441 representing a gain of 0.75% in the last 24 hours. More than $150M worth of BTC were exchanged in the BTC/USD market representing a 9.25% share of the global daily volume. The pair with most volume was the BTC/USDT with an 80% share.

The Ethereum price has dropped 0.43% over the past 24 hours and is currently sitting at $162.2, with over $30M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 2.7% market share of the daily trading volume. The largest ETH trading pair was the ETH/USDT with a 46.65% share.

See live charts here and here

Washington Recognizes Blockchain Records as Valid and Enforceable

The United States state of Washington has passed a bill that recognizes and protects the legal status of electronic records pertaining to distributed ledgers like blockchains. The bill, substitute senate bill 5638, was signed into effect by Governor Jay Inslee on April 26.

The bill has now passed with 96–1 and will go into effect in late July. The new law has a clause which prevents discriminating against electronic records which have in some way been part of a distributed ledger:

“An electronic record may not be denied legal effect, validity, or enforceability solely because it is generated, communicated, received, or stored using distributed ledger technology.”

Read more here

Bitfinex Shareholder Provides More Details About Potential Token Sale

Zhao Dong, a Bitfinex shareholder, revealed earlier this week that the exchange was thinking of doing an Initial Exchange Offering (IEO). Yesterday, Dong posted on WeChat that individuals interested in participating should reach out to either him or to DFund, a group he founded. There will be a minimum buy-in of $1 million, and a total supply of 1 billion tokens, available for $1 each, Zhao wrote. He further claimed that $500 million has already been subscribed. The post reads:

“Only qualified foreign investors will be allowed to invest. They must make a soft commitment to the sale by Sunday. The system works on a first-in, first-served basis. If the whole [1 billion is] fully allocated, we will not have to run the IEO to the retail channel, it will be like a private placement.”

Read more here

Coinbase Wallet Supports Dogecoin in iOS and Android Versions

Yesterday, Coinbase announced that "Coinbase Wallet", it's user-controlled wallet app for iOS and Android, is being updated to include Dogecoin (DOGE) support. Exactly one month after XLM support was added, Coinbase Wallet Product Lead, Siddharth Coelho-Prabhu, announced the update via a blog post:

"New Wallet update with DOGE support will roll out to all users on iOS and Android over the next week. You can now store your Dogecoin (DOGE) directly in the Coinbase Wallet app. To find your DOGE wallet, all you need to do is tap ‘Receive’ on the main wallet tab and select DOGE."

Read more here

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