Market Analysis Report

17 June 2019

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index has closed at 4,452.16 with a loss of 1.24% for the day.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $6,127 representing a gain of 0.7% in the last 24 hours. More than $300 M worth of BTC were exchanged in the BTC/USD market representing a 14.7% share of the global daily volume. The BTC/JPY pair represents a 62.6% share.

The Ethereum price has risen 0.09% over the past 24 hours and is currently sitting at $435, with over $100 M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 24.4% market share of the daily trading volume.

For a detailed market analysis click here

Huobi Pro is Suspending Cryptocurrency Trading for Users in Japan

Cryptocurrency exchange Huobi Pro is suspending trading services to users in Japan, starting on the 2nd of July. According to local media reports, an email was sent yesterday to the users announcing the company's upcoming withdrawal from the Japanese market since it isn’t registered with the Financial Services Agency (FSA), the country’s financial regulator. An excerpt of the email reads:

"Huobi does not register the virtual currency exchange business based on the 'funds settlement law' of Japan. Therefore, we do not conduct virtual currency exchange business in Japan."

Read more

Coinbase CEO Unveils Crypto Charity for the Unbanked

Yesterday, Coinbase CEO Brian Armstrong announced he is launching a new charity platform, named GiveCrypto, which will hold and distribute cryptocurrencies to people in need. The fund aims to raise $10 million for the first phase, and it has secured $3.5 million so far, including an initial donation of $1 million from Armstrong. The non-profit also has a long-term goal of reaching $1 billion fund size in the next two years. Amstrong stated:

"Many who invested early in cryptocurrencies understood it could make the financial system more efficient, lower fees, and reduce transaction times. Early adopters saw the potential to unlock widespread innovation if the internet had a native currency. And almost everyone I met in the community early on believed cryptocurrency could finally bank the unbanked of the world—the billions of people who are locked out of the financial system and trapped in poverty as a result."

Read more

Sacramento Kings Become The First Sports Team To Mine Cryptocurrency

Yesterday, NBA organization Sacramento Kings announced a partnership with MiningStore to become the first sports team in the world to mine cryptocurrencies. According to Forbes, early in 2014, the NBA team was also the first to accept Bitcoin and will now install cryptocurrency mining equipment at Golden 1 Center, the organization arena. 

"Two years ago, it was Bitcoin; now, it’s about how we are going to utilize blockchain technology. I think it will transform many parts of our business and provide for the ultimate fan experience. The list is endless, just as it is for what the technology can do for other spaces." 

Read more here

Monaize - on a Mission to Get Cryptocurrencies Adopted through Hybrid Approach.  

Focussed on the “Tech” in “FinTech, this challenger bank strongly believes in making business banking simple. Following the crypto-explosion of 2017, their tech team has become truly hybrid, able to develop on the legacy banking infrastructure and blockchain, in parallel.

  • Open, Collaborative Banking

Business bank accounts can be opened in under 5 minutes using a smartphone, and come with a Black Business Mastercard. Clients also get access to third-party services including finance, insurance, and payment solutions via their open platform.

  • MNZ Wallet Release

Available for Mac, Windows and Linux, the MainNet version of the “MNZ Wallet” was released in May and incorporates a “Buy” functionality, allowing investors to purchase MNZ tokens. A TestNet version is available for non-private sale participants.  

  • Becoming a Truly Hybrid FinTech Player

Monaize’s White Paper outlines plans for an in-app crypto wallet and an incentive program which leverages their native blockchain to reward MNZ token holders based on Monaize’s user growth.

  • Pre-ICO Stage

Monaize is currently conducting a private sale. Anyone interested is encouraged to contact Robert Miller, Blockchain Innovation Strategist:

Learn more about Monaize here

Press Release

State of the Crypto

Bitcoin is up 0.7% at $6,127.470 with a volume of Ƀ53.9k - $331.0M on the USD pairs.

Ether is down 0.59% against Bitcoin at Ƀ0.07113 per Ether and up 0.09% against the dollar to $435.05 with average volume Ƀ33.8k on the ETH/BTC pair.

Bitcoin Cash is up 0.52% to Ƀ0.1154 with volumes of Ƀ17.1k and up 0.94% against the dollar at $703.42.

Ripple is down 0.57% to Ƀ0.00007519 with volumes of Ƀ8.4k and down 0.11% against the dollar at $0.4596.

Zcash is up 0.38% for the day to Ƀ0.02663 per ZEC and up 0.7% against the dollar to $162.66 with an average volume of Ƀ2.2k for the 24 hour period.

Litecoin is up 2.17% against the dollar for the day at $78.63 and up 1.82% to Ƀ0.01289 on volumes of Ƀ15.3k.

Dash is down 2% at Ƀ0.03671 with Ƀ8.3k volume and down 1.55% against the dollar at $224.11.

Iota is up 0.57% to Ƀ0.0001587 on Ƀ2.1k volume.

Ether Classic is up 4.83% to Ƀ0.002519 with volumes of Ƀ7.7k and up 5.28% against the dollar at $15.36.

Monero is up 2.23% against the dollar at $130.51 and up 1.48% against Bitcoin at Ƀ0.02131 on volumes of Ƀ3.3k.

Neo is up 0.37% for the day to Ƀ0.004914 per NEO and up 0.71% against the dollar to $29.97 with an average volume of Ƀ2.9k for the 24 hour period.

Waves is up 7.35% to Ƀ0.0004426 on Ƀ2.8k volume.

Stratis is up 4.37% to Ƀ0.0003823 on Ƀ386.778 volume.

Cardano is down 0.63% to Ƀ0.00002045 on Ƀ1.9k volume.

NEM is up 1.1% to Ƀ0.00002492 on Ƀ546.348 volume.

EOS is up 3.62% to Ƀ0.001288 on Ƀ15.4k volume.

Tron is up 0.16% to Ƀ0.00000639 on Ƀ4.5k volume.

Stellar is up 3.29% to Ƀ0.00003107 on Ƀ2.4k volume.

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