Market Analysis Report

17 June 2019

Bitcoin’s Price Hits All-Time High

The price of bitcoin has reached $1206 last night, breaking its new all-time high on multiple exchanges. Currently sitting at $1165, Bitcoin has finally surpassed its previous record set in November 2013. With roughly 200k BTC exchanged in the last 24h, the JPY leads the market with a 48,9% share. The USD trading volume is also high with more than 141k Bitcoins exchanged in the last 24 hours.

The surge in the price of Bitcoin is connected to the approach of the announcement regarding the Bitcoin ETF approval, which is to be decided by the U.S. Securities and Exchange Commission. If approved, the ETF will be the first bitcoin ETF in the US market, opening the digital currency to a wider audience of investors

See live charts here

 

WeTrust’s First Product is Live on the Mainnet

After months of hard work, the WeTrust.io team is pleased to announce we have launched an MVP of our first product offering, ROSCAs (Trusted Lending Circles), on the Ethereum mainnet.

ROSCAs or Rotating Savings and Credit Associations, are arrangements between trusted parties to pool together and distribute funds amongst one another, acting as a form of low-interest credit or insurance for all participating members. All that you need to get started is an Ethereum wallet and a web3 enabled browser. Please visit ROSCA.WeTrust.IO to try it out or our main website at WeTrust.io to learn more about our vision!

Read more here and see the Roadmap here Press Release

Storj Raises $3m in Seed Funding

Atlanta-based Storj Labs announced today it has raised $3m in seed funding as part of a round that saw contributions from individual investors employed by VC firms including Google Ventures, Qualcomm Ventures and Techstars, according to the company. The funding marks the first time that Storj Labs has raised outside capital, following a blockchain token sale in 2014.

Read more here

Taiwan Plans To Restrict Cash Purchases

Taiwan is becoming the latest country to implement demonetization policies, banning the use of cash for transactions involving real estate and ‘luxury’ goods. According to the Economic Daily News, an unidentified government minister stated there would likely be an outright ban on using cash to pay for such items. Their actual cost, he said, would not play a factor. He stated:

“With the goal of strengthening the prevention and control of money laundering, Taiwan's Ministry of Justice plans to promote large-scale transactions without cash. The first wave may lock real estate, luxury cars and jewelry transactions,”

Read more here

State of the Crypto

Bitcoin is up 2.44% at $1,164.28with a volume of Ƀ 141k - 132M on the USD pairs.

Litecoin is down 2.07% against the dollar for the day at $3.79 and down 2.99% to Ƀ 0.003342 on volumes of 409 BTC.

Ether is down 0.09% against Bitcoin at Ƀ 0.01116 per Ether and up 2.12% against the dollar on $12.99 with average volume 5.1k BTC on the ETH/BTC pair. 

Zcash is up 5.81% for the day to 0.02513 BTC per ZEC and up 8.02% against the dollar to $29.24 with average volume of 291 BTC for the 24 hour period.

Monero is down 6.25% against the dollar at $12.15 and down 8.33% against Bitcoin at Ƀ 0.01046 on volumes of 917 BTC. 

Ether Classic is down 1.59% to Ƀ 0.001055 with volumes of 483 BTC and up 0.82% against the dollar at $1.23.

Dash is up 2.21% at Ƀ 0.02131 with 1.7k BTC volume and up 6.56% against the dollar at $24.35.

Waves is down 6.01% Ƀ 0.0001861 on 37 BTC volume. 

Stratis is down 6.47% to Ƀ 0.00006601 on 13 BTC volume.

Lisk has 34 BTC volume for the day. The price is down 4.47% at 0.0001153.

PASC is down 3.12% at Ƀ 0.0001927 with an average volume of 12 BTC

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