Market Analysis Report

17 June 2019

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index closed at 3,483.26 yesterday at 5 pm (GMT) and has since dropped 0.09%.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $6,403 representing a loss of  0.06%% in the last 24 hours. More than $150 M worth of BTC were exchanged in the BTC/USD market representing a 12.5% share of the global daily volume. The BTC/USDT pair represents a 68% share.

The Ethereum price has dropped 0.5% over the past 24 hours and is currently sitting at $211, with over $40 M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 7.3% market share of the daily trading volume.

See the live charts here and here

Pure BiT Exchange Exit Scams After Raising 13,000 ETH

South Korean cryptocurrency exchange Pure Bit has recently pulled an exit scam after raising a total of 13,000 ETH through an initial coin offering (ICO). The team behind Pure Bit reportedly remained anonymous as its ICO was based in South Korea, which banned the fundraising practice months ago. This gives projects the perfect excuse to remain anonymous but makes it riskier for investors. On Reddit, one user pointed out that things look bad for investors:

"They have gotten rid of every evidence. Website hosted by a fake name, out of Korea host, messenger, contacts were all fake too. Now their only hope is to keep on track with that ether and hope for the best."

Read more here

BitPay Sides with Bitcoin ABC in Bitcoin Cash Hard Fork

BitPay has joined Coinbase and Binance in backing the Bitcoin Cash ABC side of the upcoming Bitcoin Cash hard fork. Without diving too much into the debate surrounding the upcoming chain split, Bitpay said in a blog post:

"BitPay’s system uses the primary software implementation of Bitcoin Cash called Bitcoin ABC. Bitcoin ABC has scheduled a Bitcoin Cash protocol change via hard fork on November 15th. […] BitPay has not made any plans to migrate from the Bitcoin ABC implementation of Bitcoin Cash to a different implementation."

Read more here

EOS Gets Its First Stablecoin: CarbonUSD (CUSD)

On the 9th of November 2018, New York-based blockchain startup Carbon-12 Labs (better known as "Carbon"), which develops a stable coin called CarbonUSD (CUSD), announced that CUSD was available on the EOS platform, while it was originally launched on the Ethereum platform on 12 September 2018. CarbonUSD is a price-stable cryptocurrency that is fully-collateralized 1:1 by U.S. dollars held in FDIC-insured accounts. Sam Trautwein, the company's CEO, stated:

"While redeemable, fiat-backed tokens are generally trusted on day 0, they are intrinsically unscalable. Structurally these tokens are multi-party bearer receipts meaning that their soundness depends not on a single fail point, but rather usually four to five. If the auditor, the bank, the trust company, the smart contract auditor, or the software provider fails (in any sense of the word), the entire structure comes tumbling down. As the stable coin scales, it undergoes significant strain. They draw increased regulatory scrutiny meaning that small things that were once overlooked now will draw the ire of governing bodies."

Read more here

Recently Added:

Conicoin Wallet added to the Wallet list

Press Release

State of the Crypto

Bitcoin is down 0.06% at $6,403.220 with a volume of Ƀ24.0k - $154.0M on the USD pairs.

Ether is down 0.57% against Bitcoin at Ƀ0.03297 per Ether and down 0.5% against the dollar to $211.31 with average volume Ƀ32.8k on the ETH/BTC pair.

Bitcoin Cash is down 6.26% to Ƀ0.08044 with volumes of Ƀ45.2k and down 6.09% against the dollar at $516.42.

Ripple is down 0.45% to Ƀ0.00007881 with volumes of Ƀ14.1k and down 0.47% against the dollar at $0.505.

Zcash is down 4.91% for the day to Ƀ0.01954 per ZEC and down 5.15% against the dollar to $125.47 with an average volume of Ƀ6.1k for the 24 hour period.

Litecoin is down 2.53% against the dollar for the day at $50.55 and down 2.63% to Ƀ0.007893 on volumes of Ƀ12.3k.

Dash is up 0.2% at Ƀ0.0253 with Ƀ5.6k volume and up 0.34% against the dollar at $163.15.

Iota is up 0.84% to Ƀ0.00007595 on Ƀ231.933 volume.

Ether Classic is down 2.44% to Ƀ0.001437 with volumes of Ƀ10.4k and down 2.33% against the dollar at $9.23.

Monero is up 1.82% against the dollar at $106.32 and up 1.79% against Bitcoin at Ƀ0.0165 on volumes of Ƀ1.6k.

Neo is down 2.2% for the day to Ƀ0.002443 per NEO and down 2.18% against the dollar to $15.72 with an average volume of Ƀ11.7k for the 24 hour period.

Waves is down 1.46% to Ƀ0.0002698 on Ƀ533.361 volume.

Stratis is down 3.64% to Ƀ0.0002222 on Ƀ168.373 volume.

Cardano is down 1.75% to Ƀ0.00001178 on Ƀ1.4k volume.

NEM is up 11.91% to Ƀ0.00001644 on Ƀ641.99 volume.

EOS is down 0.08% to Ƀ0.0008413 on Ƀ17.4k volume.

Tron is down 3.07% to Ƀ0.00000347 on Ƀ1.6k volume.

Stellar is down 0.16% to Ƀ0.00004307 on Ƀ7.1k volume.

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