Market Analysis Report 30 October 2017

Market Update
Just over a week after pushing past the $6,000 mark for the first time, Bitcoin rose to a high of $6,306.58 at 20:30 UTC yesterday. The previous all-time high of $6,183 was set on October 21st and held for just eight days. The Bitcoin price is now up more than 500% on the year, having climbed from just below $1,000 on January 1st to the new high.

However, at press time, the Bitcoin price is sitting at $6,129 and has risen 5.4% in the last 24 hours, with over $740M worth of BTC exchanged on the BTC/USD pair, representing a 28.2% share of daily volume, second to the JPY at 57.2%.
After successively trying to rebound from a previous major correction on October 4, the Ethereum price has finally recovered beyond the $300 mark. Currently sitting at $309.8, the Ethereum price has risen 4% in the last 24 hours, with over $100 M worth of Ethereum exchanged in the past 24 hours on the ETH/USD pair, which has a 26.6% share of daily trading volume.

SEC Enforcement Objectives of New Cyber Unit

The co-director of the U.S Securities and Exchanges Commission (SEC) Division of Enforcement, Stephanie Avakian, has outlined the mission of the regulator’s recently formed Cyber Unit and Retail Strategy Task Force. Speaking at a recent Securities Enforcement Forum, the co-director has detailed the objectives of the new unit, including issues specifically pertaining to cryptocurrency. He stated:

"The need for the Cyber Unit arises in large part from the increasing frequency of which we are seeing cyber-related misconduct affecting the securities markets, and also the increasing complexity of these cases. The work of these actors in many instances has been facilitated by easy access to the dark web marketplace as well as the use of digital currency, both of which make it harder to track the flow of funds involved in cyber violations.”
Vietnamese Central Bank Bans Cryptocurrencies

Vietnam’s central bank has declared the use of digital currencies in the country illegal. The central bank also announced that it will impose a fine on anyone caught utilizing the cryptocurrencies starting early 2018.

The law also states that the only authorized payment methods in the country are those issued or controlled by the State Bank of Vietnam. According to the State Bank of Vietnam:

“The issuance, supply, and use of Bitcoin and other similar virtual currencies as a means of payment is a prohibited activity in Vietnam. Under the provisions of Clause 6, Article 27 of Decree No. 96/2014 / ND-CP on administrative sanctions in monetary and banking activities, acts of distributing, including Bitcoin and other similar virtual currencies, will be fined fines from 150 million to 200 million [VND].”
Japan’s Financial Authority Clarifies Stance on Initial Coin Offerings

The Japanese Financial Services Agency (FSA) published a statement on Friday, clarifying its position on ICOs. The agency first warned the public of two risks applicable to ICO investors.

The first risk concerns price volatility, which the agency cautioned, “the price of a token may decline or become worthless suddenly.” The second risk is “potential for fraud.” The FSA warned that goods and services outlined in ICOs whitepapers may not be realized. The announcement reads:

"You should have a deal at your own risk only after understanding enough the risks above and the content of an ICO project if you buy a token. You should also pay careful attention to suspicious solicitation of ICOs. ICOs may fall within the scope of the Payment Services Act and/or the Financial Instruments and Exchange Act depending on how they are structured."
State of the Crypto

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Market Analysis Report
30 October 2017
Market Update

Just over a week after pushing past the $6,000 mark for the first time, Bitcoin rose to a high of $6,306.58 at 20:30 UTC yesterday. The previous all-time high of $6,183 was set on October 21st and held for just eight days. The Bitcoin price is now up more than 500% on the year, having climbed from just below $1,000 on January 1st to the new high.

However, at press time, the Bitcoin price is sitting at $6,129 and has risen 5.4% in the last 24 hours, with over $740M worth of BTC exchanged on the BTC/USD pair, representing a 28.2% share of daily volume, second to the JPY at 57.2%.

After successively trying to rebound from a previous major correction on October 4, the Ethereum price has finally recovered beyond the $300 mark. Currently sitting at $309.8, the Ethereum price has risen 4% in the last 24 hours, with over $100 M worth of Ethereum exchanged in the past 24 hours on the ETH/USD pair, which has a 26.6% share of daily trading volume.

See live charts here and here

SEC Enforcement Objectives of New Cyber Unit

The co-director of the U.S Securities and Exchanges Commission (SEC) Division of Enforcement, Stephanie Avakian, has outlined the mission of the regulator’s recently formed Cyber Unit and Retail Strategy Task Force. Speaking at a recent Securities Enforcement Forum, the co-director has detailed the objectives of the new unit, including issues specifically pertaining to cryptocurrency. He stated:

"The need for the Cyber Unit arises in large part from the increasing frequency of which we are seeing cyber-related misconduct affecting the securities markets, and also the increasing complexity of these cases. The work of these actors in many instances has been facilitated by easy access to the dark web marketplace as well as the use of digital currency, both of which make it harder to track the flow of funds involved in cyber violations.”
Read more here

Vietnamese Central Bank Bans Cryptocurrencies

Vietnam’s central bank has declared the use of digital currencies in the country illegal. The central bank also announced that it will impose a fine on anyone caught utilizing the cryptocurrencies starting early 2018.

The law also states that the only authorized payment methods in the country are those issued or controlled by the State Bank of Vietnam. According to the State Bank of Vietnam:

“The issuance, supply, and use of Bitcoin and other similar virtual currencies as a means of payment is a prohibited activity in Vietnam. Under the provisions of Clause 6, Article 27 of Decree No. 96/2014 / ND-CP on administrative sanctions in monetary and banking activities, acts of distributing, including Bitcoin and other similar virtual currencies, will be fined fines from 150 million to 200 million [VND].”
Read more here

Japan’s Financial Authority Clarifies Stance on Initial Coin Offerings

The Japanese Financial Services Agency (FSA) published a statement on Friday, clarifying its position on ICOs. The agency first warned the public of two risks applicable to ICO investors.

The first risk concerns price volatility, which the agency cautioned, “the price of a token may decline or become worthless suddenly.” The second risk is “potential for fraud.” The FSA warned that goods and services outlined in ICOs whitepapers may not be realized. The announcement reads:

"You should have a deal at your own risk only after understanding enough the risks above and the content of an ICO project if you buy a token. You should also pay careful attention to suspicious solicitation of ICOs. ICOs may fall within the scope of the Payment Services Act and/or the Financial Instruments and Exchange Act depending on how they are structured."
Read more here

Recently Added

BM added to Upcoming ICO list

BAR added to Upcoming ICO list

Gladius - Decrease Load Times. Fight DDoS Attacks

Current DDoS protection services have multiple problems such as the outdated subscription model, slow speeds, and even lack of safety. The DDoS problem is very real, and it actually very common in the case of ICOs. As a matter of a fact, several ICOs were DDoS and had to delay their public sale, not to mention the huge reputation and economic damages they suffered hours prior to launching.

The Gladius Network is a decentralized platform created to protect against DDoS attacks and to accelerate websites through a Content Delivery Network (CDN). To do so, Gladius will leverage a global network of participants who will rent/use their idle bandwidth to help safeguard and accelerate websites by providing DDoS protection and participating in a global CDN.

The Gladius platform will allow anyone with a computer and internet connection to install a simple piece of software and start renting out spare and underutilized bandwidth. The users who share their bandwidth resources (nodes) will then be able to handle a continuous stream of requests to validate website connections and block malicious activity as a group.

To learn more about Gladius please visit the Website, Token-sale-Page, Blog, Twitter or read the Whitepaper.

Press Release
State of the Crypto

Bitcoin is up 5.43% at $6,129.720 with a volume of $122.2k - $741.3M on the USD pairs.

Litecoin is up 5.45% against the dollar for the day at $57.81 and down 0.05% to Ƀ0.00942 on volumes of Ƀ5.4k.

Ether is down 1.62% against Bitcoin at Ƀ0.05045 per Ether and up 4% against the dollar to $309.81 with average volume Ƀ20.2k on the ETH/BTC pair.

Dash is down 2.75% at Ƀ0.04674 with Ƀ3.9k volume and up 3.36% against the dollar at $286.81.

Ripple is down 3.93% to Ƀ0.00003301 with volumes of Ƀ2.7k and up 1.81% against the dollar at $0.2029.

Zcash is down 4.41% for the day to Ƀ0.03772 per ZEC and up 1.19% against the dollar to $231.17 with an average volume of Ƀ3.4k for the 24 hour period.

Monero is up 2.24% against the dollar at $88.7 and down 3.6% against Bitcoin at Ƀ0.01444 on volumes of Ƀ2.9k.

Ether Classic is down 4.55% to Ƀ0.001764 with volumes of Ƀ879.607 and up 1.31% against the dollar at $10.86.

Bitcoin Cash is down 10.38% to Ƀ0.07278 with volumes of Ƀ43.9k and down 5.32% against the dollar at $445.7.

Waves is down 3.34% to Ƀ0.0005734 on Ƀ659.64 volume.

Stratis is down 7.79% to Ƀ0.0007153 on Ƀ2.2k volume