Market Analysis Report

17 June 2019

Cryptocurrency Market Update

The crypto markets continued to recover yesterday, climbing as much as $15 billion to cross the $130 billion thresholds. The Bitcoin price headlined the advance with an 8% leap, while the Ethereum price surged more than 15%. Ultimately an astonishing 97 of the top 100 cryptocurrencies experienced positive movement for the day.

Bitcoin was expected to pull back to about $3200 levels, but it never dipped below $3500. This shows that there is enough buying support at lower levels. Bitcoin is likely to face resistance between the $3955 and $4100 levels, from both the moving averages and the downtrend line.

Currently sitting at $3,962, the BTC price is close to the $4,000 level once again, with over $610 M worth of Bitcoin exchanged in the past 24 hours on the BTC USD pair, which has a 31.94% share of daily volume, second to JPY at 48.22%.

At press time, Ethereum's price is sitting at $286 with volumes of $265 M worth of ETH exchanged in the markets in the last 24 hours on the USD pair which holds 37.80% of trading followed by Korea at 36,53%.

Read more here and See live charts here

The Pirate Bay is Using its Clients Processors for Bitcoin Mining

Recently, The Pirate Bay ran a JavaScript-based Monero (XMR) miner on its platform. The program used visitor computer resources to mine the cryptocurrency in order to generate revenue as an alternative to ads. According to TorrentFreak, The Pirate Bay ran the code, for about 24 hours. It wasn’t enabled on the whole website, only on search results and category listings, but it was enough for some users to complain about it, as their CPU was being used without their permission. TPB’s super moderator Sid revealed that he didn’t agree with the website’s addition. On the website’s official forums, he stated:

“That really is serious, so hopefully we can get some action on it quickly. And perhaps get some attention for the uploading and commenting bugs while they’re at it.”

Read more here

Dubai Financial Regulator Issues ICO Warning

The Dubai Financial Services Authority (DFSA), has turned its attention to token sales in a recent statement in which it urgers investors to be wary of ‘unique risks’ inherent to ICOs. “These offerings should be regarded as high-risk investments” the regulator stated. Notably, the DFSA added that it had not regulated nor licensed any entities in the financial zone. The notice read:

"The DFSA would like to make it clear it does not currently regulate these types of product offerings or license firms in the Dubai International Financial Centre (DIFC) to undertake such activities."

Read more here

South Africa’s 2nd Largest Retailer Tests Bitcoin Payments

South Africa’s second-largest supermarket chain store, Pick n Pay, recently started accepting bitcoin in one of its stores, according to an announcement made by payments software development firm Electrum.

The announcement clarifies that customers at the store, at Pick n Pay’s head office campus, have been able to use the cryptocurrency for a limited time. Dave Glass, MD at Electrum, the company that provided the payments platform for the transactions, stated:

“We’ve worked closely with PnP for several years as a key technology provider. Our mission is to support innovative enterprises like Pick n Pay, and together we use the advanced Electrum software-as-a-service technology to move quickly on new opportunities, whilst at the same time delivering the best possible shopping experience.”

Read more here

Gimli - Decentralized eSports betting for streamers and viewers

Built on Ethereum, Gimli is the first fully decentralized application for live stream bets and interactions, including votes, donations and tournament prize pooling.

Gimli empowers streamers by enabling them to engage their audience directly, thereby controlling and increasing novel revenue opportunities. Gimli decentralizes the betting process and hands control back to the streamers and fans.

The Gimli project will be featured at multiple international events such as the D10e in Kiev on September 19, the ICOnference in New York on September 22, or the World Blockchain Forum in London on September 24!

To learn more about Gimli please visit their Blog, Telegram or join their Discord channel.

Recently Added

WRC added to Upcoming ICO list

Press Release

State of the Crypto

Bitcoin is down 0.05% at $3,953.670 with a volume of $145.8k - $583.9M on the USD pairs.

Litecoin is down 3.84% against the dollar for the day at $53.05 and down 3.79% to Ƀ0.01345 on volumes of Ƀ8.2k.

Ether is down 1.26% against Bitcoin at Ƀ0.07223 per Ether and down 1.05% against the dollar to $285.5 with average volume Ƀ24.0k on the ETH/BTC pair.

Dash is down 3.44% at Ƀ0.08222 with Ƀ3.9k volume and down 3.78% against the dollar at $322.84.

Ripple is down 3.12% to Ƀ0.00004720 with volumes of Ƀ3.7k and down 3.23% against the dollar at $0.186.

Zcash is down 2.89% for the day to Ƀ0.04778 per ZEC and down 3.14% against the dollar to $187.93 with an average volume of Ƀ2.0k for the 24 hour period.

Monero is down 4.02% against the dollar at $96.86 and down 4.06% against Bitcoin at Ƀ0.02459 on volumes of Ƀ3.4k.

Ether Classic is down 2.8% to Ƀ0.002948 with volumes of Ƀ2.3k and down 3.17% against the dollar at $11.62.

Waves is up 4.5% to Ƀ0.001037 on Ƀ1.5k volume.

Stratis is up 6.64% to Ƀ0.001266 on Ƀ3.3k volume.

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