Market Analysis Report

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index closed at 2,892.40 yesterday at 5 pm (GMT) and has since risen 0.90%.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $5,928 representing a gain of 4.78% in the last 24 hours. More than $250M worth of BTC were exchanged in the BTC/USD market representing a 10% share of the global daily volume. The pair with most volume was the BTC/USDT with a 76% share.

The Ethereum price has risen 10.31% over the past 24 hours and is currently sitting at $177.5, with over $130M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 4.75% market share of the daily trading volume. The largest ETH trading pair was the ETH/USDT with a 50.6% share.

See live charts here and here

Regulators Ready to Approve Ether Futures, CFTC Insider Says

The U.S. Commodity Futures Trading Commission (CFTC) is willing to approve an Ether futures contract – provided it ticks all the right boxes, a senior official said. The CFTC, which oversees derivatives markets in the U.S., has already allowed Bitcoin futures markets to launch, with both CME Group and Cboe Global Exchange offering cash-settled contracts at the end of 2017. Now, the regulator is willing to oversee a similar product for ether, currently, the world’s second-largest cryptocurrency by market cap, said the official.

“I think we can get comfortable with an ether derivative being under our jurisdiction. A derivatives exchange comes to us and says ‘we want to launch this particular product.’ If they came to us with a particular derivative that met our requirements, I think that there’s a good chance that it would be self-certified by us.”

Read more here

Fidelity to Launch Crypto Trading Within Weeks

Fidelity Investments, one of the biggest asset managers on the planet, will launch a crypto trading service “within weeks”, according to a Bloomberg report. The company says its cryptocurrency trading product is aimed at institutional traders and will initially focus on Bitcoin. Fidelity spokesperson Arlene Roberts said:

“We currently have a select set of clients we’re supporting on our platform. We will continue to roll out our services over the coming weeks and months based on our clients’ needs, jurisdictions, and other factors. Currently, our service offering is focused on Bitcoin.”

Read more here

Ether Transaction Volume on DApps Registers New All-Time-High

Ether (ETH) volumes on decentralized applications (DApps) have registered a new high, but new DApps coming on-chain are significantly low, crypto analytics firm Diar reported yesterday. The volume of Ether transacted in April on DApps broke the previous record which was set last December by a small margin. This marks a four-month growth trend in on-chain volumes, with 776,000 ETH transacted.

Diar further notes that this year is the longest growth period in terms of transacted volume that DApps have ever seen. Almost $132 million transacted on DApps are marking a four-month in a row growth and an eight-month high.

Read more here

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