Market Analysis Report

17 June 2019

Market Update

Despite all the news surrounding regulation, Bitcoin quickly increased back to $5,700 levels and continued its uptrend before the upcoming fork. At press time, the Bitcoin price is sitting at $5,637 and has risen 0.6% in the last 24 hours, with over $395M worth of BTC exchanged on the BTC/USD pair, representing a 25% share of daily volume, second only to the JPY at 60%.

Ethereum has forked for the fifth time and while the Byzantium update had come with a few bugs and delays, it was still implemented. After the updates, ETH price exceeded $350. However, The Ethereum software, which supports Byzantium, was withdrawn from publication over the past few days due to some code errors. Developers made the necessary corrections in due time, but the Ethereum price dropped to the $300 level.

Currently sitting at $305, the Ethereum price has dropped 0.7% in the last 24 hours, with over $75 M worth of Ethereum exchanged in the past 24 hours on the ETH/USD pair, which has a 33% share of daily trading volume.

Read more here and See live charts here

Switzerland Awards First AML/KYC Licence To Bitcoin Company

Payment21, a payment gateway company, has become the first Bitcoin company to gain full regulatory compliance from Switzerland's financial regulator, the Swiss Financial Market Supervisory Authority (FINMA). Managing Director Bernhard Kaufmann commented:

“We are committed to meeting the legal requirements of the Swiss financial marketplace. Our handling of compliance issues enriches the digital currency ecosystem, and demonstrates that Swiss regulators embrace competitiveness in financial services, and truly encourage Fintech innovation in the digital era.”

Read more here

Tezos Founders Enter Legal Battle for Control of Raised ICO Funds

The Tezos Project is currently in the midst of a governance issue that has escalated into a legal battle. The founders, Kathleen and Arthur Breitman, have become embroiled in a legal dispute with Johan Gevers – the president of a Swiss foundation, an independent body that would manage the ICO funds of Tezos.

Both parties accuse one another of having a conflict of interest which makes them unsuitable for managing the funds. According to Reuters, the Breitmans are now seeking to create a new foundation which, if they are successful, will allow the Breitmans to exercise greater control over the management of Tezos’ funds.

Read more here

Gates Foundation Launches Blockchain-based Mobile Payments Solution

The Bill and Melinda Gates Foundation has launched the Mojaloop open-source payments software to provide an interoperability layer between financial institutions, payment providers, and other companies offering payment services to the poor and unbanked people around the world. The mobile payments system employs the Interledger technology that was developed by Blockchain-based startup Ripple. Kosta Peric, the foundation’s deputy director of financial services for the poor, stated:

"Interoperability of digital payments has been the toughest hurdle for the financial services industry to overcome. With Mojaloop, our technology partners have finally achieved a solution that can apply to any service, and we invite banks and the payments industry to explore and test this tool.”

Read more here

Blockchain.info adds support for Bitcoin Cash (BCH)

The most widely used Bitcoin wallet in the world, Blockchain.info, has added support for Bitcoin Cash (BCH). Users can now store, exchange, and send Bitcoin Cash.

Read more here

Recently Added :

C20 Added to Upcoming ICO List

ILCT Added to Upcoming ICO List

WAX Added to Upcoming ICO List

U.S. Residents May be Able to Join UTRUST ICO

As you may know, up to this point UTRUST was advised to exclude U.S. citizens and U.S. residents from their ICO. However, their legal team has been tirelessly at work and they may be able to overcome this hurdle very soon before the ICO starts on November 2nd.

You can now register your intent to participate so the team can reach out to you if the opportunity becomes available.

Register here.

Press Release

State of the Crypto

Bitcoin is up 0.55% at $5,637 with a volume of $69.5k - $394.7M on the USD pairs.

Litecoin is down 1.25% against the dollar for the day at $58.68 and down 1.7% to Ƀ0.01038 on volumes of Ƀ4.5k.

Ether is down 1.68% against Bitcoin at Ƀ0.05389 per Ether and down 1.26% against the dollar to $305 with average volume Ƀ12.8k on the ETH/BTC pair.

Dash is down 0.65% at Ƀ0.05177 with Ƀ2.9k volume and down 0.46% against the dollar at $291.78.

Ripple is up 1.73% to Ƀ0.00003815 with volumes of Ƀ8.7k and up 1.99% against the dollar at $0.215.

Zcash is up 0.67% for the day to Ƀ0.04039 per ZEC and up 0.84% against the dollar to $227.7 with an average volume of Ƀ2.9k for the 24 hour period.

Monero is up 3.3% against the dollar at $92.27 and up 2.71% against Bitcoin at Ƀ0.01631 on volumes of Ƀ4.3k.

Ether Classic is down 1% to Ƀ0.001982 with volumes of Ƀ682.347 and down 0.8% against the dollar at $11.17.

Waves is down 2.42% to Ƀ0.0006816 on Ƀ506.991 volume.

Stratis is down 5.03% to Ƀ0.0005510 on Ƀ1.2k volume.

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