Market Analysis Report

17 June 2019

Ether Rebounds As Price Rises Back Above $300

The price of Ether rebounded above $300 today. Currently sitting at $312, Ether is up 10% today on the USD market with over $315M exchanged in the last 24h the cryptocurrency rose to as much as $322 yesterday.Some market observers, for example, Redwood City Ventures investor Sean Walsh, stated that ether's rise was merely a natural response to the recent correction in cryptocurrencies. He said:

"The recent ether sell-off was a little drastic, so there's undoubtedly a reversion-to-mean scenario playing out here."

Read more here and see charts here

Pantera Capital to Raise $100 Million in Investment for ICO Hedge Fund

Announced yesterday, the Pantera Capital investment firm is launching a new hedge fund focused on investments in tokens that power public blockchain protocols. Called Pantera ICO Fund LP, the fund intends to raise $100m, with $35m already raised in support from the firm's existing investor base, undisclosed new investors, and according to the company, unnamed venture capital firms. The new fund will complement Pantera Bitcoin Partners, a joint investment fund launched by Pantera, Fortress, Benchmark Capital and Ribbit Capital in early 2014 to invest in the cryptocurrency.

Read more here

Japan Will Test Government Tenders on a Blockchain this Year

Japan is ditching its expensive centralized IT servers that are vulnerable to cyberattacks and data theft in favor of the Blockchain technology According to a report today in the Nikkei, Japan’s Ministry of Internal Affairs and Communications will commence testing a blockchain-based system for processing government tenders this fiscal year through to March 2018. A report today in the Nikkei reads:

"Instead of applicants collecting the tax payment certificates and other necessary documents from various government offices, for example, the agency issuing the tender would be able to gather the information electronically."

Read more here

State of the Crypto

Bitcoin is up 2.76% at $ 2,591.39 with a volume of Ƀ 89,299.2 - $227,606,684.5 on the USD pairs.

Litecoin is up 3.65% against the dollar for the day at $ 40.87 and up 1.2% to Ƀ 0.01603 on volumes of Ƀ 12,147.8.

Ether is up 5.2% against Bitcoin at Ƀ 0.1194 per Ether and up 8.58% against the dollar to $ 307.88 with average volume Ƀ 104,659.2 on the ETH/BTC pair.

Dash is up 0.24% at Ƀ 0.07176 with Ƀ 5,007.86 volume and up 2.32% against the dollar at $180.04.

Ripple is up 0.49% to Ƀ 0.0001026 with volumes of Ƀ 8,085.68 and up 3.65% against the dollar at $0.2638.

Zcash is up 0.23% for the day to Ƀ 0.1307 per ZEC and up 3.38% against the dollar to $333.39 with an average volume of Ƀ 3,097.29 for the 24 hour period.

Monero is up 5.37% against the dollar at $ 46.68 and up 3.03% against Bitcoin at Ƀ 0.01838 on volumes of Ƀ 2,990.27.

Ether Classic is up 1.05% to Ƀ 0.007216 with volumes of Ƀ 5,060.66 and up 3.75% against the dollar at $18.53.

Stratis is up 0.61 % to Ƀ 0.002654 on Ƀ 2,562.85 volume.

Waves is down 1.5 % to Ƀ 0.001639 on Ƀ 870.21 volume.
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