Market Analysis Report

17 June 2019

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index has closed at 4,560.67 with a loss of 1.67% for the day.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $6,163 representing a gain of 5.08% in the last 24 hours. More than $500 M worth of BTC were exchanged in the BTC/USD market representing a 15.8% share of the global daily volume. The BTC/JPY pair represents a 64.3% share.

The Ethereum price has dropped 2.55% over the past 24 hours and is currently sitting at $449, with over $250 M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 30.6% market share of the daily trading volume.

For detailed market analysis click here

Bitfinex's Chief Strategy Officer Leaves Crypto Exchange

Last Friday, Bitfinex Chief Strategy Officer Phil Potter said he is leaving the cryptocurrency exchange. According to Reuters, Phill Potter decided to depart due to Bitfinex move to other strategic international markets, was also mentioned that it will be replaced temporarily by Chief Executive JL van Der Velde. Potter said:

"As Bitfinex pivots away from the U.S., I felt that, as a U.S. person, it was time for me to rethink my position as a member of the executive team. It's been an incredible journey over these past four years, and while I wish my colleagues success and good fortune in their ongoing endeavors, I am also looking forward to new opportunities for myself in the days ahead."

Read more here

Vietnam To Ban Bitcoin Miner Imports

In accordance with local news outlet Vietnam Plus, Vietnam's Ministry of Finance has recently proposed a temporary ban on Bitcoin mining machine imports to improve the management of Bitcoin and cryptocurrency transactions. The local media reported that, at the moment, cryptocurrencies like Bitcoin are considered an “illegal non-cash payment method” in the country and are being used for illegal activities as stated:

"The PM instructed the Ministry of Public Security to join hands with the SBV and relevant ministries to detect and handle any case of cryptocurrency being used for illegal payment, any activity connected to money laundering and any terrorism-related activity sponsored via cryptocurrency."

Read more here

South Korea Denies Rumors of 10% Tax on Cryptocurrency Trading Profits

Last Friday, domestic media outlet Chosun claimed that the South Korea government was preparing to levy a 10% tax rate on profits from cryptocurrencies. However, recently the South Korean government’s Ministry of Strategy and Finance has refuted this recent news, claiming that it is different from the fact and even if the government decides to mandate taxes on crypto trading profits, it would be necessary to establish a legal system to source details of any relevant taxation information from domestic cryptocurrency exchanges before enforcing a tax framework.

Read more here

Claim a 200% crypto bonus at Americas Cardroom before $3 Million BOSS

Americas Cardroom is already famous for accepting more than 60 of the world’s leading cryptocurrencies, but now they’re giving crypto fans even more reasons to play online.

For a limited time, the US-friendly poker site is offering players who sign up and make their first deposit using a cryptocurrency a supersized 200% deposit bonus up to $1,000.

Just enter bonus code CRYPTOCOMPARE on the first screen when you create your free Americas Cardroom poker account to qualify for a 3-part Welcome Package. It includes the 200% first deposit bonus up to $1,000 when using a crypto (100% if not using crypto), 20 days of free cash up to $50, and access to at least one New Depositor freeroll.

Having more free cash at your disposal is better than ever since Americas Cardroom just announced their Bigger Online Super Series (BOSS) from July 8th to 15th. It’s designed for high rollers with $3,020,000 in guaranteed prize pools over just 26 tournaments.

Thanks to big buy-ins ranging from $109 to $2,100, you can expect small fields with those huge guarantees. The two Main Events are the $540 buy-in $500,000 GTD on Sunday, July 8th at 2 pm ET and the $2,100 buy-in $1,000,000 GTD on Sunday, July 15th at 1 pm ET.

Although Americas Cardroom’s tournaments and cash games are denominated in US dollars, the site makes it easy to deposit and withdraw using your favorite cryptocurrencies. If you’re a cryptocurrency user or just love huge poker tournaments, ACR is the place to be this summer.

While Americas Cardroom is mobile friendly, players will need access to a Mac or PC when signing up.

Visit AmericasCardroom.eu for more information about the BOSS, 3-part Welcome Package, or using cryptocurrencies at the site.

Press Release

State of the Crypto

Bitcoin is up 5.08% at $6,163.210 with a volume of Ƀ89.4k - $542.4M on the USD pairs.

Ether is down 2.55% against Bitcoin at Ƀ0.07307 per Ether and up 2.63% against the dollar to $449 with average volume Ƀ44.1k on the ETH/BTC pair.

Bitcoin Cash is up 4.75% to Ƀ0.1213 with volumes of Ƀ24.8k and up 10.49% against the dollar at $746.31.

Ripple is up 0.13% to Ƀ0.00007729 with volumes of Ƀ9.4k and up 5.24% against the dollar at $0.4756.

Zcash is up 0.75% for the day to Ƀ0.02679 per ZEC and up 5.82% against the dollar to $165.39 with an average volume of Ƀ3.5k for the 24 hour period.

Litecoin is up 5.07% against the dollar for the day at $80.41 and up 0.31% to Ƀ0.01307 on volumes of Ƀ17.1k.

Dash is up 0.15% at Ƀ0.03905 with Ƀ8.1k volume and up 5.04% against the dollar at $241.18.

Iota is down 0.31% to Ƀ0.0001593 on Ƀ2.5k volume.

Ether Classic is up 6.42% to Ƀ0.002436 with volumes of Ƀ8.7k and up 12.28% against the dollar at $15.

Monero is up 15.1% against the dollar at $125.66 and up 9.66% against Bitcoin at Ƀ0.02043 on volumes of Ƀ4.8k.

Neo is down 3.91% for the day to Ƀ0.005087 per NEO and up 1.49% against the dollar to $31.33 with an average volume of Ƀ4.2k for the 24 hour period.

Waves is down 3.03% to Ƀ0.000432 on Ƀ2.0k volume.

Stratis is up 2.18% to Ƀ0.0003838 on Ƀ599.856 volume.

Cardano is down 0.14% to Ƀ0.0000211 on Ƀ2.2k volume.

NEM is up 0.76% to Ƀ0.00002507 on Ƀ597.299 volume.

EOS is up 4.56% to Ƀ0.001285 on Ƀ19.3k volume.

Tron is down 0.74% to Ƀ0.00000674 on Ƀ8.8k volume.

Stellar is up 2.07% to Ƀ0.00003107 on Ƀ3.2k volume.

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