Market Analysis Report

17 June 2019

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index has closed at 3,475.67 with a loss of 3.92% for the day.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $6,034 representing a loss of 6.35% in the last 24 hours. More than $660 M worth of BTC were exchanged in the BTC/USD market representing a 25% share of the global daily volume. The BTC/JPY pair represents an 11% share.

The Ethereum price has dropped 15% over the past 24 hours and is currently sitting at $269, with over $ 320 M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 23% market share of the daily trading volume.

See live charts here and here

 

Cryptocurrency Trading Is Strictly Prohibited In Saudi Arabia

Saudi Arabia regulatory authorities recently issued a warning regarding cryptocurrency trading, considered illegal in the country. The regulatory committee, which monitors securities activities in the realm exchange market, has reaffirmed that the use of Bitcoin (BTC) and other cryptocurrencies is strictly prohibited. According to CryptoGlobe, this information about cryptocurrency trading was released after several Saudi Arabia sites and social media offered services related to cryptocurrencies.

Read more here

Binance CEO Changpeng Zhao Denies Exorbitant Listing Fees

Binance's CEO, Changpeng Zhao, recently responded to allegations that his company was charging 400 BTC (~US $2.5 million) as listing fees. Zhao stated that the listing fee quoted did not matter but rather the quality of the project involved. He started: 

"We don't list shitcoins even if they pay 400 or 4,000 BTC. ETH/NEO/XRP/EOS/XMR/LTC/more listed with no fee. Question is not how much does Binance charge to list? but - is my coin good enough? - It’s not the fee, it's your project! Focus on your own project!"

Read more here

Coinbase Makes Its Index Fund More Attractive to Institutional Investors by Halving Its Fee

Yesterday, Coinbase announced that it was reducing the annual management fee for its Index Fund from 2% to 1% for both existing and new investors. In order to attract investors who are familiar with lower-fee index funds in other asset classes. The company stated:

"This will help introduce a new category of institutional investors into the cryptocurrency space."

Read more here

State of the Crypto

Bitcoin is down 6.35% at $6,034.890 with a volume of Ƀ106.8k - $661.1M on the USD pairs.

Ether is down 9.45% against Bitcoin at Ƀ0.04466 per Ether and down 15.09% against the dollar to $269.33 with average volume Ƀ76.1k on the ETH/BTC pair.

Bitcoin Cash is down 8.1% to Ƀ0.08263 with volumes of Ƀ15.9k and down 13.95% against the dollar at $498.18.

Ripple is down 6.91% to Ƀ0.00004381 with volumes of Ƀ9.7k and down 12.75% against the dollar at $0.2642.

Zcash is down 11.32% for the day to Ƀ0.02202 per ZEC and down 17% against the dollar to $132.8 with an average volume of Ƀ5.8k for the 24 hour period.

Litecoin is down 13.59% against the dollar for the day at $51.64 and down 7.64% to Ƀ0.008561 on volumes of Ƀ13.1k.

Dash is down 11.19% at Ƀ0.02302 with Ƀ4.7k volume and down 16.55% against the dollar at $138.93.

Iota is down 16.88% to Ƀ0.00007023 on Ƀ1.9k volume.

Ether Classic is down 12.03% to Ƀ0.001813 with volumes of Ƀ15.6k and down 17.37% against the dollar at $10.94.

Monero is down 10.54% against the dollar at $85.16 and down 4.46% against Bitcoin at Ƀ0.01413 on volumes of Ƀ3.5k.

Neo is down 13.36% for the day to Ƀ0.00251 per NEO and down 19.03% against the dollar to $15.15 with an average volume of Ƀ5.0k for the 24 hour period.

Waves is down 9.74% to Ƀ0.0003002 on Ƀ1.0k volume.

Stratis is down 19.99% to Ƀ0.0002001 on Ƀ455.282 volume.

Cardano is down 12.82% to Ƀ0.00001517 on Ƀ3.6k volume.

NEM is down 1.35% to Ƀ0.00001676 on Ƀ714.085 volume.

EOS is down 7.13% to Ƀ0.0007291 on Ƀ15.6k volume.

Tron is down 15.23% to Ƀ0.00000295 on Ƀ8.5k volume.

Stellar is down 3.43% to Ƀ0.00003494 on Ƀ8.5k volume.
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