Market Analysis Report

16 November 2018

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index has closed at 3,002.35 yesterday at 5 pm (GMT) and has since increased by 0.46%.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $5,564 representing a loss of 1.35% in the last 24 hours. More than $690 M worth of BTC were exchanged in the BTC/USD market representing a 26.3% share of the global daily volume. The BTC/JPY pair represents an 8.6% share.

The Ethereum price has dropped  0.94% over the past 24 hours and is currently sitting at $177.6, with over $190 M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 16.3% market share of the daily trading volume.

See live charts here and here

OKCoin Exchange Expands to Latin America & Opens Fiat Market

Cryptocurrency exchange OKCoin has recently revealed that it expanded to the Latin American market, with a platform that’s set to let users trade top cryptocurrencies against local fiat currencies. According to the release, OKCoin’s expansion to Latin America comes after it became a fully licensed platform to operate in the region. Initially, it will allow users in Argentina to deposit Argentine pesos (ARS) to the platform, which can then be traded with top cryptos like Bitcoin, Bitcoin Cash, Ethereum, Cardano, Stellar, and Zcash.

The document further notes more fiat currencies and cryptocurrencies are going to be added in the near future. To cement its position in Latin America, OKCoin is also opening an office in Buenos Aires and setting up a team to “support its business throughout Latin America.” In the document, Tim Buyn, the CEO of OKCoin USA, was quoted as saying:

“This is just the beginning of our Latin American expansion, as we’re aiming to grow throughout the region by bringing institutional and retail traders there an array of trusted trading options so they can buy and sell with confidence.”

Read more here

Binance Exchange Will List Circle’s USDC Stablecoin This Week

Yesterday, Binance announced that it will open trading pairs for the regulated, U.S. dollar-pegged token against its own token Binance Coin (BNB) and Bitcoin (BTC) on Nov. 17, adding that it has already started accepting deposits for USDC in preparation for the start of trading. Circle also confirmed the news. The support for USDC comes shortly after Wei Zhou, Binance’s CFO, said in October that the firm is looking to list more stablecoins. Last month, U.S.-based crypto exchange Coinbase also announced it was adding USDC as its first stable coin offering. Coinbase is also one of the founding members of the CENTRE consortium, along with Circle.

Read more here

Pure Bit Exit Scammers Start Refunding Victims

In what appears to be a strange twist, the exit scammers behind the “Pure Bit” cryptocurrency exchange have recently started refunding their victims after claiming they’ve made a terrible mistake. The scammers raised funds this month through an Initial Coin Offering (ICO) that was set to last until November 30, but before waiting for it to end, the group shut down its website and kicked investors out of their Kakao group, before emptying their wallets and running away with 13,000 ETH. In the group’s statement they admit what they’ve done:

“We negatively affected investors in the project, both financially and psychologically. We've made an unforgivable mistake that cannot be turned around, blinded by money.”

Read more here

State of the Crypto

Bitcoin is down 1.35% at $5,564.690 with a volume of Ƀ125.5k - $692.6M on the USD pairs.

Ether is up 0.73% against Bitcoin at Ƀ0.03187 per Ether and down 0.94% against the dollar to $177.61 with average volume Ƀ63.6k on the ETH/BTC pair.

Bitcoin Cash is down 20.23% to Ƀ0.06386 with volumes of Ƀ19.7k and down 19.8% against the dollar at $360.17.

Ripple is up 3.6% to Ƀ0.00008463 with volumes of Ƀ28.6k and up 1.83% against the dollar at $0.4724.

Zcash is up 0.47% for the day to Ƀ0.01943 per ZEC and down 1.42% against the dollar to $108.67 with an average volume of Ƀ9.6k for the 24 hour period.

Litecoin is down 0.63% against the dollar for the day at $42.82 and up 1.01% to Ƀ0.007698 on volumes of Ƀ20.6k.

Dash is down 55.44% at Ƀ0.02471 with Ƀ15.6k volume and down 2.68% against the dollar at $138.31.

Iota is up 1.64% to Ƀ0.00007377 on Ƀ738.784 volume.

Ether Classic is down 0.8% to Ƀ0.001358 with volumes of Ƀ15.2k and down 2.57% against the dollar at $7.59.

Monero is down 1.93% against the dollar at $88.51 and up 0.32% against Bitcoin at Ƀ0.01584 on volumes of Ƀ2.6k.

Neo is down 0.91% for the day to Ƀ0.002286 per NEO and down 3.16% against the dollar to $12.88 with an average volume of Ƀ16.3k for the 24 hour period.

Waves is up 0.19% to Ƀ0.0002678 on Ƀ647.478 volume.

Stratis is down 1.26% to Ƀ0.0001884 on Ƀ294.127 volume.

Cardano is up 0.83% to Ƀ0.00001094 on Ƀ2.2k volume.

NEM is up 1.22% to Ƀ0.00001664 on Ƀ1.0k volume.

EOS is up 1.54% to Ƀ0.0008163 on Ƀ36.6k volume.

Tron is up 1.81% to Ƀ0.00000337 on Ƀ3.8k volume.

Stellar is up 5.42% to Ƀ0.00004298 on Ƀ7.0k volume.

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