Market Analysis Report

17 June 2019

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index closed at 2,216 yesterday at 5 pm (GMT) and has since increased by 9%.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $4,077 representing a gain of 1.3% in the last 24 hours. More than $685M worth of BTC were exchanged in the BTC/USD market representing a 21.2% share of the global daily volume. The BTC/JPY pair represents a 14.5% share.

The Ethereum price has increased 5.1% over the past 24 hours and is currently sitting at $116, with over $210M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 15.2% market share of the daily trading volume.

See live charts here and here

Facebook to Develop its Own Stablecoin

Yesterday, it was reported that Facebook is looking to develop its own stablecoin for money transfers. Sources indicate that the stable coin will be dollar-pegged and used on the Indian market through the WhatsApp messaging app. Crypto analyst Anthony Pompliano commented:

“If Facebook launches the stablecoin they are reportedly building, it will quickly become the most used product in crypto,(...) The Indian government has been fighting crypto too so things are about to get very, very interesting.”

Read more here

Pending Approval: Bakkt’s Futures Contract Is Set to Be Launched

Yesterday, reports from the Wall Street Journal indicated that Bakkt‘s Bitcoin (USD) Daily Futures Contract, the physically-settled daily futures contract, is close to being approved by authorities. The contract was expected to launch on December 12 but was postponed to January 24 of next year. Bakkt CEO Kelly Loeffler stated:

"ICE Futures U.S., Inc. will list the new Bakkt Bitcoin (USD) Daily Futures Contract for trading on trade date Thursday, January 24, 2019, subject to regulatory approval. The new listing timeframe will provide additional time for the customer and clearing member onboarding prior to the start of trading and warehousing of the new contract."

Read more here

Thai SEC Plans to Relax ICO Regulations

Yesterday, the Thai Securities and Exchange Commission (SEC) shared plans to ease the country's regulation for Initial Coin Offerings (ICOs). The regulator is conducting a public hearing to relax rules on ICOs and has also unveiled plans to prevent the exploitation of token sales. According to the Bangkok Post:

"The [Thai] Securities and Exchange Commission (SEC) is conducting a public hearing to relax regulations on pre-sales and private sales of initial coin offerings (ICOs), aiming to reduce impediments for ICO issuers raising funds."

Read more here

State of the Crypto

Bitcoin is up 1.36% at $4,077.360 with a volume of Ƀ167.5k - $685.0M on the USD pairs.

Ether is up 5.19% against Bitcoin at Ƀ0.02839 per Ether and up 6.92% against the dollar to $116.24 with average volume Ƀ92.5k on the ETH/BTC pair.

Bitcoin Cash is up 40.85% to Ƀ0.05375 with volumes of Ƀ97.8k and up 45.62% against the dollar at $220.09.

Ripple is down 3.51% to Ƀ0.00009165 with volumes of Ƀ40.3k and down 2.19% against the dollar at $0.3753.

Zcash is up 0.46% for the day to Ƀ0.01542 per ZEC and up 2.16% against the dollar to $63.47 with an average volume of Ƀ6.9k for the 24 hour period.

Litecoin is up 2.29% against the dollar for the day at $31.65 and up 0.99% to Ƀ0.007777 on volumes of Ƀ30.5k.

Dash is up 13.81% at Ƀ0.02242 with Ƀ9.6k volume and up 14.95% against the dollar at $92.81.

Iota is up 8.81% to Ƀ0.00008444 on Ƀ1.7k volume.

Ether Classic is down 1.53% to Ƀ0.001156 with volumes of Ƀ6.9k and down 0% against the dollar at $4.74.

Monero is up 7.68% against the dollar at $54.4 and up 6.03% against Bitcoin at Ƀ0.01318 on volumes of Ƀ2.3k.

Neo is down 2.72% for the day to Ƀ0.00175 per NEO and down 1.62% against the dollar to $7.27 with an average volume of Ƀ6.4k for the 24 hour period.

Waves is down 8.64% to Ƀ0.0009264 on Ƀ19.1k volume.

Stratis is down 11.64% to Ƀ0.0003248 on Ƀ6.0k volume.

Cardano is up 11.99% to Ƀ0.00001037 on Ƀ4.1k volume.

NEM is down 1.04% to Ƀ0.00001802 on Ƀ838.533 volume.

EOS is down 2.05% to Ƀ0.0006552 on Ƀ40.0k volume.

Tron is up 10.85% to Ƀ0.0000047 on Ƀ9.2k volume.

Stellar is down 0.59% to Ƀ0.00003058 on Ƀ8.3k volume.
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