Market Analysis Report

17 June 2019

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index has closed at 3,148.29 with a loss of 9.42% for the day.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $6,437 representing a gain of 6.65% in the last 24 hours. More than $650 M worth of BTC were exchanged in the BTC/USD market representing a 29% share of the global daily volume. The BTC/JPY pair represents a 12% share.

The Ethereum price has risen 7.71% over the past 24 hours and is currently sitting at $284, with over $250 M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 22% market share of the daily trading volume.

For a detailed market analysis click here

 

Venezuela To Use Petro As Unit for Salaries, Goods and Services

Yesterday, Venezuelan President, Nicolás Maduro, announced in a televised speech that the national oil-backed cryptocurrency, el Petro, will be used as a unit of account within the country, according to ABC International. Additionally, the government will introduce a new salary system and a pricing system for goods and services that are anchored to the Petro. ABC quotes Maduro:

“As of next Monday, Venezuela will have a second accounting unit based on the price, the value of the Petro. It will be a second accounting unit of the Republic and will begin operations as a mandatory accounting unit of our PDVSA oil industry.”

Read more here

Jamaica Stock Exchange To Launch Cryptocurrency Trading By The End of 2018

Yesterday, the Jamaica Stock Exchange announced that it will be offering cryptocurrency trading by the end of the year. The company announced that it has signed a memorandum of understanding with Blockstation, a Toronto-based company that calls itself as “The Institution’s Choice for Trading Digital Assets,” to build a cryptocurrency trading platform by the end of 2018. Street Forrest, managing director of the stock exchange, explained where the company sees the deal taking them:

"So the end game at the end of the day is to trade tokens, the end game is smart contracts, the end game is to provide that area of the market that would like this product, to start to do so in a secure manner."

Read more here

Venezuela Looking to Launch a Central Bank for Cryptocurrencies

Venezuela is reportedly looking to lunch a central bank for cryptocurrencies, as the country’s National Constituent Assembly is preparing to reform the Venezuelan Constitution to include it. According to Reuters, information on the development was provided by Hermann Escarrá, which the outlet describes as “one of the most influential members of the assembly that prepares the changes to the 1999 Constitution.” He was quoted as saying:

“There will be the Central Bank with its functions in exchange, monetary and financial policy and the Central Bank will be incorporated.”

Read more here

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Press Release

State of the Crypto

Bitcoin is up 6.65% at $6,437.710 with a volume of Ƀ105.8k - $654.5M on the USD pairs.

Ether is up 0.77% against Bitcoin at Ƀ0.04433 per Ether and up 7.71% against the dollar to $284.75 with average volume Ƀ55.5k on the ETH/BTC pair.

Bitcoin Cash is down 1.93% to Ƀ0.08065 with volumes of Ƀ13.0k and up 4.43% against the dollar at $517.4.

Ripple is up 3.1% to Ƀ0.00004483 with volumes of Ƀ7.8k and up 9.97% against the dollar at $0.288.

Zcash is down 1.05% for the day to Ƀ0.02176 per ZEC and up 5.08% against the dollar to $139.38 with an average volume of Ƀ4.1k for the 24 hour period.

Litecoin is up 10.17% against the dollar for the day at $56.45 and up 3.42% to Ƀ0.008772 on volumes of Ƀ13.6k.

Dash is up 3.84% at Ƀ0.0238 with Ƀ4.7k volume and up 9.88% against the dollar at $152.93.

Iota is up 6.85% to Ƀ0.00007488 on Ƀ1.5k volume.

Ether Classic is up 3.23% to Ƀ0.001885 with volumes of Ƀ13.8k and up 10.09% against the dollar at $12.11.

Monero is up 5.84% against the dollar at $90.07 and down 0.5% against Bitcoin at Ƀ0.01404 on volumes of Ƀ2.3k.

Neo is up 2.93% for the day to Ƀ0.002566 per NEO and up 9.73% against the dollar to $16.46 with an average volume of Ƀ3.6k for the 24 hour period.

Waves is down 2.66% to Ƀ0.0003077 on Ƀ487.804 volume.

Stratis is up 4.94% to Ƀ0.0002124 on Ƀ255.261 volume.

Cardano is up 0.92% to Ƀ0.00001531 on Ƀ2.8k volume.

NEM is up 0.29% to Ƀ0.0000171 on Ƀ523.549 volume.

EOS is up 0.74% to Ƀ0.0007313 on Ƀ14.2k volume.

Tron is up 6.51% to Ƀ0.00000311 on Ƀ4.0k volume.

Stellar is down 0.03% to Ƀ0.00003532 on Ƀ5.1k volume.

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