Market Analysis Report

17 June 2019

Bitfury Mines a Block Signalling User-Activated SegWit Soft Fork

Bitfury mined a block supporting the BIP 148 proposal, effectively signalling a user-activated softfork (UASF) for SegWit. The news comes after an alias named Shaolin Fry introduced the idea of SegWit UASF, which would try to activate SegWit before a 95 percent threshold of consensus was reached between miners. The BIP 148 proposal states that a compulsory activation of SegWit would initiate between October 1 and November 15, 2017.

Shaolin Fry’s proposal states:

"Historically, the P2SH soft fork (BIP16) was activated using a predetermined flag day where nodes began enforcing the new rules. P2SH was successfully activated with relatively few issues. By orphaning non-signalling blocks during the last month of the BIP9 bit 1 “Segwit” deployment, this BIP can cause the existing “Segwit” deployment to activate without needing to release a new deployment."

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Beijing City Regulator Calls For Blockchain Standards

According to a speech published by Sina Finance, Huo Xuewen, secretary of Beijing's Municipal Bureau of Finance (a group that sets the city's economic strategy), is calling for the country to adopt a "standard" approach to blockchain development. In his speech, Xuewen outlined popular use cases for blockchain (including payments, credit and trading), and called for blockchain standardization as a means to make development easier. This, he says, can solve problems and stymie any potential illegal financial activities.

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Bitcoin Unlimited BTU Token Volatile After 30%+ Weekly Fall

Traders are gambling on the future of Bitcoin and according to them, the future doesn't look bright for Bitcoin Unlimited as the price Bitcoin Unlimited’s future asset BCU is already waning - even before the asset itself comes into existence. Futures trading on the two exchanges hosting BCU, Bitfinex and HitBTC, has seen the price of the asset drop around 30% in a week to hit new lows Sunday. Having begun last week trading at around $260 on Bitfinex, one BCU now costs around $180, having increased 22 percent in 24 hours. 

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State of the Crypto

Bitcoin is up 5.63% at $1,045.06 with a volume of Ƀ 93k - 96M on the USD pairs.

Litecoin is up 1.21% against the dollar for the day at $4.17 and down 4% to Ƀ 0.004009 on volumes of 1.7k BTC.

Ether is down 7.07% against Bitcoin at Ƀ 0.04734 per Ether and down 2.04% against the dollar to $49.37 with average volume 62k BTC on the ETH/BTC pair. 

Dash is down 14.76% at Ƀ 0.07805 with 32k BTC volume and down 10.02% against the dollar at $81.60.

Zcash is down 12.44% for the day to 0.05326 BTC per ZEC and down 9.10% against the dollar to $54.44 with average volume of 2.7k BTC for the 24 hour period.

Monero is down 3.51% against the dollar at $19.50 and down 6.91% against Bitcoin at Ƀ 0.01968 on volumes of 6.5k BTC. 

Ether Classic is down 10.55% to Ƀ 0.002085 with volumes of 4.1k BTC and down 5.22% against the dollar at $2.18.

Waves is down 8.79% Ƀ 0.0003485on 218 BTC volume. 

PASC is down 14.12% Ƀ 0.0002256 on 295 BTC volume. 
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