MVIS CryptoCompare top 100 index

Financial regulators from all over the globe continue to issue letters of warning and regulations regarding ICOs. On Feb. 20, Germany’s Federal Financial Supervisory Authority (BaFin) issued a letter of advice, on how it will classify tokens sold during Initial Coin Offerings (ICOs) within Germany. The move follows its warning in late 2017 regarding the risks associated with investing in ICOs.

The letter also reveals that BaFin will conduct a “precise case-by-case examination” of tokens to determine their legal status, instead of issuing broad rules that govern the activity. It also says that tokens can represent various financial instruments, including stocks, derivatives and digital representations of voting rights.

The MVIS CryptoCompare top 100 index has dropped 10.93% in the last 24 hours to 5,016.59.

Top 10

Top 10, CryptoCompare coinlist chart

Nine of the ten top coins by 24 hour volume have posted negative changes, ranging from 6.8 to 10.4%, in the last 24 hours. The exception was Huobi Token, that showed a gain of 3.8% in the last 24 hours, sitting at $2.33 with a global daily volume of $126M.

Ethereum Classic (-10.44% at $32.7), Bitcoin Cash (-10.11% at $1,235), Tronix (-10.18% at $0.0425) and Monero (-10.86% at $287), all showed an approximately 10% loss in the last 24 hours, following the global downtrend of the markets.

EOS posted a loss of 9.04%, and is currently sitting at $7.95 with a global daily volume of $111M.

BTC

On Tuesday, Zaif, a cryptocurrency exchange operated by Osaka-based Tech Bureau Corp, revealed in a statement that a technical error allowed several traders to buy Bitcoin for 0 yen.

Zaif said that the glitch occurred during an 18-minute window on Feb. 16, and seven customers were able to purchase BTC at the rate of 0 yen. The company has already fixed customer balances. The glitch caused the system to temporarily report inaccurate trading data. The company statement reads:

“We apologize for any inconvenience and inconvenience caused to you by our customers. We will strive to prevent recurrence and we will continue to work on improving our services.”

Reuters reports that Zaif is one of 16 cryptocurrency exchanges that are currently licensed by Japan’s Financial Services Agency (FSA).

At the time of writing, the Bitcoin price is sitting at $10,196 representing a loss of 7.15% in the last 24 hours. More than $1.6B worth of BTC were exchanged in the BTC/USD market representing a 27.8% share of global daily volume. The BTC/JPY pair represents a 43% share.

Bitcoin, BTCUSD CryptoCompare Chart

ETH

The Ethereum price has dropped 7.31% over the past 24 hours and is currently sitting at $820, with over $1.1B worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 31.1% market share of the global daily trading volume. The largest Ethereum pair was ETH/BTC with a 31.8% share.

Ethereum, ETHUSD CryptoCompare chart

LTC

The Litecoin price has dropped 6.81% over the past 24 hours and is currently sitting at $204, with over $680M worth of LTC exchanged in the past 24 hours on the LTC/USD pair, the largest Litecoin pair, which has a 33.9% market share of the global daily trading volume.

Litecoin, LTCUSD CryptoCompare chart

XRP

The Ripple price has dropped 8.63% over the past 24 hours and is currently sitting at $0.93, with more than $100M worth of XRP exchanged in the past 24 hours on the XRP/USD pair which has a 22% market share of the global daily trading volume. The largest Ripple pair is XRP/KRW with a 40.6% share.

Ripple, XRP USD CryptoCompare chart