Market Analysis Report

17 June 2019

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index closed at 1,842 yesterday at 5 pm (GMT) and has since increased by 5.12%.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $3,804 representing a gain of 8.7% in the last 24 hours. More than $444M worth of BTC were exchanged in the BTC/USD market representing a 20.9% share of the global daily volume. The BTC/JPY pair represents an 11.6% share.

The Ethereum price has increased by 2.2% over the past 24 hours and is currently sitting at $103, with over $132M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 12.9% market share of the daily trading volume.

See live charts here and here

Western Union Is Prepared To Add Cryptocurrencies

Western Union, the leading international money transfer service provider, released a video last Monday in which it noted that the company is “uniquely positioned to connect the cash and digital world.” The video explained that the company currently has access to “billions of bank accounts” throughout the world and also works with “over half a million retail agent locations.” This allows Western Union to work as an “on-ramp and off-ramp for global money movement.” Commenting on how the company is prepared to integrate cryptocurrencies to their cross-border payment platform, Odilon Almeida, the president of Western Union, stated:

"Western Union is ready today to adopt any kind of currency. We already work with 130 currencies. I think cryptocurrencies may become one more option of currencies or assets around the globe to be exchanged between people and businesses. If that happens, we would be ready."

Read more here

South Korean Government Trials Blockchain For Shipping Efficiency

Two South Korean government ministries are exploring blockchain’s potential to bring new abilities to marine logistics. Announced yesterday, the country’s Ministry of Science and the Ministry of Oceans and Fisheries have launched a blockchain pilot project to see if the technology can help the nations container shipping industry become more efficient. If the pilot proves a success, the two ministries expect to expand the blockchain tech to other ports and areas in the country. The Ministry of Science said:

“We will establish a roadmap for developing blockchain technology and plan to secure 90% of the technology level by 2022 compared to the world’s top countries"

Read more here

Gaming Giant Atari to Launch ‘Blockchain Versions’ of Two Games

Renowned game maker Atari Inc. announced a license agreement with Animoca Brands Limited, giving it the rights to produce and publish blockchain versions of the famed Atari mobile game titles Roller Coaster Tycoon Touch and Goon Squad in most territories around the world. The move represents a significant leap for blockchain game development, as the titles in question are some of the most iconic titles in existence. Speaking further, Frederic Chesnais, CEO Atari, said:

"We are proud and delighted to enter into this long-term and strategic relationship with Animoca Brands, which also allows us to become a shareholder in one of the most exciting innovators in the world of decentralized gaming. We hope that this agreement paves the way to further cooperation with other Atari products.”

Read more here

Digitex: Commission-free Futures Exchange

Does the crypto space need commission-free trading? Considering the evolving ecosystem of cryptos, especially in the world of trading, zero trading fees could be argued to be long overdue. The way to mass adoption isn’t about following traditional business models or acting as the new middleman. There’s more to it than that.

Believe it or not, there are pros to having a cryptos futures market. Following conventional economic thought, it’s the next logical step. And the emergence of a futures market shows that crypto assets are maturing compared to traditional asset markets. But why does crypto need commission free? Zero trading fees help to lower the financial barrier to entry for traders. This will encourage retail level traders to use the exchange. And that’s exactly what Digitex Futures is trying to bring to the market.

Digitex may not be the first in that particular space but it will lead the way in bringing zero-fee trading to the futures exchange market. This will lower the barrier to entry for traders and help to garner the attention of those interested in trading, eventually leading to the market size growing and showcasing the maturity of the space. The competition fostered will help lead to mass adoption of cryptos whether through direct or indirect ownership of the hard asset.

Read more here

Press Release

State of the Crypto

Bitcoin is up 8.75% at $3,804.460 with a volume of Ƀ120.7k - $444.1M on the USD pairs.

Ether is up 2.21% against Bitcoin at Ƀ0.02725 per Ether and up 11.03% against the dollar to $103.55 with average volume Ƀ88.8k on the ETH/BTC pair.

Bitcoin Cash is up 23.76% to Ƀ0.03115 with volumes of Ƀ41.5k and up 35.02% against the dollar at $116.51.

Ripple is up 4.22% to Ƀ0.00009809 with volumes of Ƀ40.6k and up 13.45% against the dollar at $0.3746.

Zcash is up 1.16% for the day to Ƀ0.01576 per ZEC and up 10.09% against the dollar to $60.58 with an average volume of Ƀ8.6k for the 24 hour period.

Litecoin is up 8.19% against the dollar for the day at $30.78 and down 0.58% to Ƀ0.008101 on volumes of Ƀ26.3k.

Dash is up 4.87% at Ƀ0.02069 with Ƀ5.3k volume and up 13.87% against the dollar at $79.48.

Iota is up 8.73% to Ƀ0.00007723 on Ƀ1.0k volume.

Ether Classic is up 1.07% to Ƀ0.001133 with volumes of Ƀ5.1k and up 9.87% against the dollar at $4.34.

Monero is up 12.85% against the dollar at $49.1 and up 3.57% against Bitcoin at Ƀ0.01277 on volumes of Ƀ1.8k.

Neo is up 1.92% for the day to Ƀ0.00186 per NEO and up 10.94% against the dollar to $7.2 with an average volume of Ƀ3.1k for the 24 hour period.

Waves is up 33.65% to Ƀ0.001006 on Ƀ21.3k volume.

Stratis is up 38.45% to Ƀ0.0002708 on Ƀ2.6k volume.

Cardano is up 2.37% to Ƀ0.00000949 on Ƀ6.4k volume.

NEM is down 0.65% to Ƀ0.00001824 on Ƀ719.272 volume.

EOS is up 0.6% to Ƀ0.0006911 on Ƀ59.2k volume.

Tron is up 6.7% to Ƀ0.0000043 on Ƀ6.9k volume.

Stellar is up 3.33% to Ƀ0.00003163 on Ƀ6.7k volume.

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