Market Analysis Report

02 July 2018

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index has closed at 4,521.81 with a loss of 0.42% for the day.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $6,318 representing a loss of 0.69% in the last 24 hours. More than $250 M worth of BTC were exchanged in the BTC/USD market representing a 10.2% share of the global daily volume. The BTC/JPY pair represents a 54.4% share.

The Ethereum price has dropped 0.89% over the past 24 hours and is currently sitting at $449, with over $50 M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 7.8% market share of the daily trading volume.

For a detailed market analysis click here

VeChain Thor Blockchain Launches

Last Saturday, VeChain has officially launched its main network (VeChain Thor) and the first block has been mined successfully. According to the cryptocurrency startup, the main network launch was preceded by deploying the first authority master node which uses Proof-of-Authority consensus algorithm and the token swap is planned to take place on Mid-July. On an official twitter post, the company stated:

"At exactly 08:00:09 the first block was successfully mined. The VeChainThor Blockchain has officially launched."

Read more here

Crypto Exchange Kraken Fights Back Against Tether Manipulation Allegations

Cryptocurrency exchange Kraken, recently published a blog post defending itself against the Tether manipulation accusations seen a couple of weeks ago. According to the company blog post, the article posted by Bloomberg News on Tether inexplicably fails to comprehend basic market concepts, such as arbitrage and related market fluctuations. The company stated:

"Unlike BTC, ETH, XRP, or other cryptocurrencies, USDT does not experience the same level of volatility because it is asset-backed.  The lack of volatility encourages traders to place bigger orders in the orderbook within a tight range, reflecting their confidence that each USDT is worth ~$1 US dollar."

Read more here

Coinbase Opens New Office in Portland

Cryptocurrency exchange Coinbase announced it is opening an office in Portland, Oregon. The company plans to add up to 100 new jobs to the local economy this year. The company stated:

"After exploring a variety of cities in the U.S., we were inspired by Portland’s innovative open-source and blockchain communities. Our new Portland office will host a variety of business-related functions. We’re hiring right now for roles focused on customer support, finance, compliance, IT and HR, and we expect to add up to 100 new jobs to the local economy this year alone"

Read more here

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Press Release

State of the Crypto

Bitcoin is down 0.69% at $6,318.040 with a volume of Ƀ41.3k - $262.4M on the USD pairs.

Ether is down 0.01% against Bitcoin at Ƀ0.07115 per Ether and down 0.89% against the dollar to $449.11 with average volume Ƀ33.1k on the ETH/BTC pair.

Bitcoin Cash is down 0.43% to Ƀ0.1156 with volumes of Ƀ13.6k and down 1.19% against the dollar at $731.38.

Ripple is up 0.26% to Ƀ0.00007225 with volumes of Ƀ9.9k and down 0.54% against the dollar at $0.4572.

Zcash is down 2.95% for the day to Ƀ0.02629 per ZEC and down 3.65% against the dollar to $165.98 with an average volume of Ƀ3.1k for the 24 hour period.

Litecoin is down 1.16% against the dollar for the day at $79.12 and down 0.32% to Ƀ0.01251 on volumes of Ƀ11.9k.

Dash is up 3.79% at Ƀ0.03806 with Ƀ9.9k volume and up 2.56% against the dollar at $239.32.

Iota is up 2.1% to Ƀ0.0001654 on Ƀ2.2k volume.

Ether Classic is down 1.11% to Ƀ0.002497 with volumes of Ƀ13.6k and down 1.68% against the dollar at $15.82.

Monero is down 0.34% against the dollar at $130.06 and up 0.64% against Bitcoin at Ƀ0.02058 on volumes of Ƀ2.6k.

Neo is up 6.24% for the day to Ƀ0.005071 per NEO and up 5.4% against the dollar to $32.02 with an average volume of Ƀ3.9k for the 24 hour period.

Waves is down 0.26% to Ƀ0.000456 on Ƀ1.7k volume.

Stratis is up 1.13% to Ƀ0.0004112 on Ƀ542.06 volume.

Cardano is up 4.89% to Ƀ0.00002232 on Ƀ4.1k volume.

NEM is up 6.07% to Ƀ0.00002709 on Ƀ967.032 volume.

EOS is up 0.32% to Ƀ0.001261 on Ƀ13.9k volume.

Tron is up 1.03% to Ƀ0.00000587 on Ƀ4.2k volume.

Stellar is up 2.06% to Ƀ0.00003073 on Ƀ2.4k volume.

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