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Market Analysis Report

30 April 2018

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index has closed at 7,714.53 with a gain of 0.65% for the day.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $9,319 representing a loss of 1.65% in the last 24 hours. More than $550 M worth of BTC were exchanged in the BTC/USD market representing a 23.4% share of the global daily volume. The BTC/JPY pair represents a 38.5% share.

The Ethereum price has dropped 1.5% over the past 24 hours and is currently sitting at $683, with over $200 M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 25.05% market share of the daily trading volume.

For a detailed market analysis click here.

Binance Inks $15 Million Investment Pact with Bermuda

Cryptocurrency exchange Binance has surpassed Germany’s largest bank in terms of profitability in the first quarter. Binance generated profits of $200 million in the January-March period, vastly outperforming Deutsche Bank, which recorded net gains of $146 million.

In the sequence of the aforementioned news, reports have confirmed that Binance founder and CEO Changpeng Zhao met with Bermuda Financial Minister David Burt to sign a memorandum of understanding (MOU). The MOU will see the Binance Foundation provide up to $10 million of university blockchain technology development and compliance training, in Bermuda. The MOU also states that Binance Labs will invest up to $5 million in new Bermuda-based blockchain companies. On a Twitter post, Binance CEO stated:

"Honoured sir! Amazed at how advanced Bermuda is in welcoming the blockchain industry! Strong leaders makes all the difference in the world."
Read more here

5 Payment Firms Adopt Ripple’s xVia API Solution

According to a Ripple announcement on their website, the company has five new customers for its xVia API solution, enhancing these companies’ access to the rapidly expanding global payments market. The companies include FairFX (U.K.), RationalFX (U.K.), Exchange 4Free (U.K.), UniPay (Georgia) and MoneyMatch (Malaysia). Ripple's team stated:

"By providing a standard API solution, xVia lets companies that want to send payments — payment providers, digital wallets and other corporates — quickly scale their businesses, differentiate their services and address their customers’ unique needs.The individuals and businesses that rely on them can send payments faster and cheaper anywhere in the world."
Read more here

Capitalise Crypto: Reshaping The Automated Trading Industry

Capitalise Crypto is a platform that enables users to automate their trades using plain English text. Once the user has written the rules for how and when they want to trade, the platform takes the written text and translates it into a series of algorithms that will automatically execute trades on their behalf. Users will even be able to backtest, optimize and monitor the trades, in order to improve their personal strategies.

With the Capitalise Crypto platform, users will be able to enjoy similar tools that hedge fund managers and institutional traders are using in traditional markets. The platform has been under development for over three years and is already in the hands of broker-dealers in closed-beta format.