Market Analysis Report

17 June 2019

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index has closed at 4,613.18 with a loss of 1.38% for the day.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $7,409 representing a loss of 2.84% in the last 24 hours. More than $510 M worth of BTC were exchanged in the BTC/USD market representing a 23.2% share of the global daily volume. The BTC/JPY pair represents a 12.2% share.

The Ethereum price has dropped 2.13% over the past 24 hours and is currently sitting at $408, with over $150 M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 15% market share of the daily trading volume.

For a detailed market analysis click here

Crypto Derivatives Exchange BitMEX Adds ETH/USD Contracts With 50x Leverage

Yesterday, cryptocurrency derivatives exchange BitMEX, which recently traded a record 1 million Bitcoin in 24 hours, added ETH/USD futures. The futures contracts allow traders to enter short or long positions, in this case betting for or against the Ethereum with a 50x leverage. BitMEX's Chief Executive Officer, Arthur Hayes, stated:

"50x leveraged ETHUSD perpetual swap is now live! Trade using only #Bitcoin, you never have to touch #Ether or #USD"

Read more here

SBI to Launch Cryptocurrency Derivatives Platform Built for Institutional Investors

Last Tuesday, the Japanese financial services SBI Holdings obtained a 12% stake in the North Carolina-based firm Clear Markets for $9 million. According to the news outlet Nikkei Asian Review, the SBI Holdings investment was made in a bid to launch a cryptocurrency derivatives trading platform which will allow institutional investors to trade various products tied to Bitcoin and other cryptocurrencies. Clear Markets' Chief Executive Officer, Mark Brickell, stated:

"As much as 50 per cent of cash trading in cryptocurrency has taken pace in Japan, so that is a nice place for us to start."

Read more here

Sony Patent Filings Hint at Work on Crypto Mining Hardware

Japanese technology company Sony wants to patent two hardware approaches for hosting and maintaining blockchains. In accordance with the documents published by the company, the two filings are entitled "Electronic Node and Method for Maintaining a Distributed Ledger", which describes a hardware node and a method for maintaining the blockchain, and the "Device and System", which describes a network composed by virtual nodes. The patent explains:

"The distributed ledger may be a blockchain, which may be based, for example, on the principles used for the bitcoin blockchain or the like (...) Moreover, the distributed ledger may use consensus mechanisms for ensuring that all electronic nodes have consensus about the distributed ledger."

Read more here

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Press Release

State of the Crypto

Bitcoin is down 2.84% at $7,409.140 with a volume of Ƀ68.4k - $512.0M on the USD pairs.

Ether is up 0.75% against Bitcoin at Ƀ0.05526 per Ether and down 2.13% against the dollar to $408.85 with average volume Ƀ48.9k on the ETH/BTC pair.

Bitcoin Cash is down 2.32% to Ƀ0.09653 with volumes of Ƀ19.1k and down 5.08% against the dollar at $714.4.

Ripple is up 3.2% to Ƀ0.00005966 with volumes of Ƀ11.0k and down 0.02% against the dollar at $0.4408.

Zcash is down 4.12% for the day to Ƀ0.02442 per ZEC and down 6.73% against the dollar to $182.55 with an average volume of Ƀ5.5k for the 24 hour period.

Litecoin is down 1.74% against the dollar for the day at $75.84 and up 1.38% to Ƀ0.01025 on volumes of Ƀ13.6k.

Dash is up 0.21% at Ƀ0.02805 with Ƀ3.6k volume and down 3.31% against the dollar at $206.93.

Iota is up 0.67% to Ƀ0.0001202 on Ƀ3.3k volume.

Ether Classic is down 0.35% to Ƀ0.001976 with volumes of Ƀ7.1k and down 3.38% against the dollar at $14.59.

Monero is down 6.96% against the dollar at $117.81 and down 3.92% against Bitcoin at Ƀ0.01593 on volumes of Ƀ2.0k.

Neo is down 2.89% for the day to Ƀ0.0037 per NEO and down 5.65% against the dollar to $27.39 with an average volume of Ƀ2.7k for the 24 hour period.

Waves is down 16.47% to Ƀ0.0002475 on Ƀ2.1k volume.

Stratis is down 10.07% to Ƀ0.000276 on Ƀ467.434 volume.

Cardano is down 2.17% to Ƀ0.00001759 on Ƀ2.7k volume.

NEM is down 4.2% to Ƀ0.00001986 on Ƀ454.279 volume.

EOS is up 3.94% to Ƀ0.0009602 on Ƀ14.3k volume.

Tron is down 4.01% to Ƀ0.00000407 on Ƀ8.7k volume.

Stellar is down 6.14% to Ƀ0.00003396 on Ƀ4.3k volume.
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