Market Analysis Report

17 June 2019

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index has closed at 5,854 with a gain of 16.91% for the day.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $8,393 representing a gain of 0.59% in the last 24 hours. More than $1.3 B worth of BTC were exchanged in the BTC/USD market representing a 26.4% share of the global daily volume. The BTC/JPY pair represents a 46.8% share.

The Ethereum price has dropped 4.55% over the past 24 hours and is currently sitting at $524, with over $400M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 35.8% market share of the daily trading volume.

For a more detailed market analysis click here

The Financial Policy Committee Reviewed Cryptocurrency Risks to UK Financial Stability

The Financial Policy Committee (FPC) had a recent meeting to review the overall state of the UK financial stability, risks to UK financial stability from Brexit and risks from cryptocurrencies. The Committee recognized the potential benefits of blockchain technology and its potential to create a more distributed and diverse payments system, however, the FPC wants to ensure that the UK financial system remains flexible if linkages between cryptocurrencies and important financial institutions grow significantly.

"The FPC judges that existing crypto-assets do not currently pose a material risk to UK financial stability. The FPC will act to ensure the core of the UK financial system remains resilient if linkages between crypto-assets and systemically important financial institutions or markets were to grow significantly."

Read more here

US President Trump Bans US Citizens From Buying Petro

US President, Donald Trump, signed an order on Monday banning US residents from engaging in any transaction related to Venezuela's "Petro" cryptocurrency. The order makes it illegal for US citizens and residents to transact with the Petro or any other cryptocurrencies later issued by Venezuela, alleging that the Petro was created in an attempt to subvert US economic sanctions against the authoritarian Maduro regime. The order reads:

"The Secretary of the Treasury, in consultation with the Secretary of State, is hereby authorized to take such actions, including promulgating rules and regulations, and to employ all powers granted to the President by IEEPA as may be necessary to implement this order. The Secretary of the Treasury may, consistent with applicable law, redelegate any of these functions to other officers and executive departments and agencies of the United States Government.”

Read more here

Bittrex to Remove Over 80 Altcoins from Its Exchange

Bittrex, one of the leading altcoin exchanges in the world, is preparing to delist over 80 altcoins which have little to no demand or broken blockchains. The exchange will be removing 82 different altcoins from the exchange by March 30, in which some names like FC2, GEMZ, and METAL were mentioned.

Read more here

Gift Off launches GOFF - a security token representing equity ownership

UK based digital gift card retailer, Gift Off, has launched a security token that represents ownership of its shares.

Since 2014, Gift Off has enabled users to spend bitcoin and other digital currencies on everyday purchases via digital gift cards. Gift Off has experienced exceptional and consistent growth with revenues of £12.8m in 2017-18. The team have big ambitions to launch an app and expand into the rapidly growing digital gift card market in Europe. 

To secure the additional funding needed to grow its business Gift Off has launched a security token that represents ownership of its shares. Token holders will have a right to all dividends issued by Gift Off and a right to the funds from a partial or full sale of any of the Gift Off shares owned by the token issuer on behalf of Token holders.

The Gift Off token sale is now live and GOFF tokens can be bought at https://tokens.giftoff.com/

Healthureum: A promise of Trusted Healthcare

Are you looking for a platform where you can avail the best medical consultancy there is, from around the globe, while being in the comfort of your home? Do you dream of a technology that stores all your medical history safely, away from cybercrimes and let you transfer funds without any hassles? If these are few of the issues you are facing, then Healthureum is the new-age solution for it.

With the ensemble of a spearheaded Estonian team, comes a startup that operates on a Blockchain technology which helps consolidate all medical data and secures it with encrypted codes. It’s an ‘open’ and distributed ledger with a decentralised approach where no single stakeholder is in charge of storing the data which increases trust and transparency among the users. Technological advances are made with the project that efficiently promises standardisation, scalability and social responsibility.

Furthermore, the digital token used by Healthureum is abbreviated as HHEM tokens. It acts as a payment option for all the healthcare services procured by the Healthcare seekers worldwide due to its hassle-free and transparent service. Special Token Generation Event or TGE are organised by the company for HHEM Tokens worldwide sale and purchase. This transition of a healthcare infrastructure to a digitised system is undoubtedly going to invite support from investors as well as philanthropic contributors.

Press Release

State of the Crypto

Bitcoin is up 0.59% at $8,393.780 with a volume of Ƀ153.0k - $1300.1M on the USD pairs.

Ether is down 4.55% against Bitcoin at Ƀ0.06275 per Ether and down 3.88% against the dollar to $524.93 with average volume Ƀ36.6k on the ETH/BTC pair.

Bitcoin Cash is up 1.32% to Ƀ0.1151 with volumes of Ƀ14.4k and up 1.84% against the dollar at $963.83.

Ripple is down 0.61% to Ƀ0.00007939 with volumes of Ƀ11.4k and up 0.08% against the dollar at $0.6647.

Zcash is down 0.49% for the day to Ƀ0.02853 per ZEC and down 0.38% against the dollar to $240.03 with an average volume of Ƀ2.0k for the 24 hour period.

Litecoin is down 0.15% against the dollar for the day at $157.21 and down 1% to Ƀ0.01874 on volumes of Ƀ11.6k.

Iota is up 4.37% to Ƀ0.0001554 on Ƀ2.2k volume.

Ether Classic is up 3.32% to Ƀ0.002149 with volumes of Ƀ6.8k and up 3.63% against the dollar at $17.97.

Monero is down 3.5% against the dollar at $207.86 and down 3.81% against Bitcoin at Ƀ0.02474 on volumes of Ƀ3.9k.

Neo is down 0.34% for the day to Ƀ0.008114 per NEO and down 0.41% against the dollar to $67.43 with an average volume of Ƀ6.3k for the 24 hour period.

Waves is up 3.34% to Ƀ0.0005759 on Ƀ2.0k volume.

Stratis is up 0.97% to Ƀ0.0005541 on Ƀ712.55 volume.

Cardano is up 5.66% to Ƀ0.00002128 on Ƀ6.1k volume.

NEM is up 6.8% to Ƀ0.00003707 on Ƀ5.9k volume.

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