Market Analysis Report

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index has closed at 6,152 with a loss of 0.32% for the day.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $8,990 representing a gain of 0.03% in the last 24 hours. More than $850M worth of BTC were exchanged in the BTC/USD market representing a 22.7% share of the global daily volume. The BTC/JPY pair represents a 51.3% share.

The Ethereum price has dropped 1.33% over the past 24 hours and is currently sitting at $564.79, with over $200M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 29.4% market share of the daily trading volume.

For a more detailed market analysis click here

NEM Foundation Stops Tracking Coins Stolen from Coincheck

On Tuesday, the NEM Foundation has announced that it will no longer track any of the coins stolen from the Japanese exchange Coincheck on the 26th of January. The NEM foundation said its efforts have provided some "actionable information" to law-enforcement authorities, however, no more details about the reasons behind its decision to stop further tracking were revealed. A cybersecurity expert told the Japan Times the hackers may have converted up to half of the stolen coins into other cryptocurrency or even fiat money.

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Coinbase to Remove Support for Multisig Vaults Within a Month

San Francisco-based cryptocurrency exchange Coinbase has announced it will be removing the support for Multisig vaults (accounts that require multiple signatures to access) on the platform. The company already disabled the creation of any new Multisig vaults claiming that it was not advantageous for the company to maintain, taking into consideration the customer feedback, low popularity and usage. Therefore, the company has decided to invest its resources in other features. The statement reads:

“By removing this functionality, engineering time spent on supporting multisig vaults can be reallocated to continued investment in the security and reliability of our platform, which is of critical importance to our customers.”

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Japan Hosted a Blockchain Roundtable for Central Banks, Regulators

The Japanese Financial Services Agency (FSA) has revealed details of a closed-doors roundtable between regulators and central banks from a large number of countries as a part of a wider multilateral collective research project on blockchain technology. The FSA confirmed that the private meeting was held on March 8 and 9, and stated:

“The roundtable meeting especially highlights the inherent technical risks and opportunities around blockchain. As a part of this initiative, JFSA currently conducts a study on the vulnerability issues of public-blockchain and relevant security issues and its impacts from technical perspectives.”

Read more here

What is a PCI DSS compliant wallet for Ethereum-based ERC20 tokens?

A PCI DSS compliant wallet for Ethereum-based ERC20 tokens is a new wallet on the market, that was launched earlier this year by Worldcore, the company that gained its name as the first and only payment platform that supports cutting edge biometrics authentication options via face and voice recognition technologies. This wallet allows you to store your Ethereum-based ERC20 tokens.

Ethereum tokens, are the tokens that are used within DAPPS of Ethereum, or the Ethereum Virtual Machine (EVM), as it is also called. This is a network of computers, that work like the world wide web. The network is connected to an open and distributed ledger, which automatically records all transactions performed within the network. Decentralized applications on the network are called DAPPS. These can be seen as the websites on the world wide web. All the users of Ethereum can start a DAPP. Even though the currency on the Ethereum platforms is the Ether (ETH), an Ethereum token is often used as a currency within DAPPS.

Everybody who initiates a DAPP can create its own Ethereum token. To interact with a new token however, you have to change your code. This would mean that users would need to change their codes, each time they want to operate within a new DAPP. To help make this easier, the Initial Standard Tokens were introduced in 2015. Later, the Ethereum Request for Comments 20, a.k.a. ERC20 standard for tokens, was added. ERC20 compliant tokens can interact with various wallets and within multiple DAPPS.

The wallet for Ethereum-based ERC20 tokens launched by Worldcore, is the world’s first EU-regulated PCI-DSS compliant wallet for these tokens. PCI-DSS stands for Payment Card Industry Data Security Standard. It was introduced in 2006 by all the big credit card agencies (American Express, Discover, JCB, MasterCard and Visa) to secure online security. Once something is PCI-DSS compliant, it meets the high standards for cyber security these agencies set.

This means that the PCI DSS compliant wallet for Ethereum-based ERC20 tokens of Worldcore is now the safest option for Ethereum users. This token storage provides the highest level of security of all wallets currently on the market. Moreover, a team of professionals is now busy developing a kinds of features, like analytic tools, smart price alerts via e-mail, SMS and Telegram bot and other solutions for professional traders. All these updates have been made possible by a successful fundraising campaign held by Worldcore.