Market Analysis Report

17 June 2019

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index closed at 2,896.58 yesterday at 5 pm (GMT) and has since dropped 3.82%.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $6,263 representing a loss of 0.85% in the last 24 hours. More than $300 M worth of BTC were exchanged in the BTC/USD market representing a 20% share of the global daily volume. The BTC/JPY pair represents a 9% share.

The Ethereum price has dropped 11.9% over the past 24 hours and is currently sitting at $170, with over $210 M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 21% market share of the daily trading volume.

See live charts here and here

U.S. SEC Hits Crypto Hedge Fund With Enforcement Action

Yesterday, the U.S. Securities and Exchange Commission (SEC) announced in a press release "its first-ever enforcement action finding an investment company registration violation by a hedge fund manager based on its investments in digital assets". The SEC stated: 

"CAM, a California-based hedge fund manager, and its sole principal Timothy Enneking raised more than $3.6 million over a four-month period in late 2017 while falsely claiming that the fund was regulated by the SEC and had filed a registration statement with the agency. By engaging in an unregistered non-exempt public offering and investing more than 40 percent of the fund’s assets in digital asset securities, CAM caused the fund to operate as an unregistered investment company."

Read more here

Nasdaq Admits Exploring Ways to Integrate Crypto

According to CryptoNewsReview, Nasdaq is looking into ways to can add crypto datasets to its market analytics service. This is not the first time the company has commented on the possibility of including crypto as part of its services, saying back in April that it would consider becoming a crypto exchange once the market matures and is properly regulated. Nasdaq’s head of alternative data, Bill Dague, stated:

“Given an abundance of interest, we are exploring cryptocurrency related datasets. Whether or not we launch a crypto-related product remains to be seen.”

Read more here

John McAfee Exchange Announces New Partnership

Yesterday, a new partnership was announced between the McAfee Exchange and CoinBene, on a Twitter post. Both McAfee and CoinBene took to their respective Twitter accounts to announce the new partnership and both claimed that the move is part of a “fight against corruption”. The partnership sees Coinbene agreeing to list for no charge any coin or token that asks to be delisted from the HitBTC exchange. McAfee Tweeted:

"I held a press conference last night announcing the new alliance partnership between @coinbene exchange and @McAfeeAlliance. In our fight against corruption @Team_McAfee will guarantee a free listing on @CoinBene to anyone willing to delist from @hitbtc effective immediately!"

Read more here

OpenST Mosaic Unveiled: New Protocol for scaling apps on Ethereum to billions of users 

OST Co-Founder and Chief Blockchain Strategist Ben Bollen presented OpenST Mosaic for the first time last Friday at ETHBerlin. Ben described how Mosaic innovations enable thousands of transactions per second to be achieved on Ethereum.

While much of the current scalability work on Ethereum is focused on off-chain or hybrid on-chain/off-chain solutions, or preparing for Ethereum version 2.0, OpenST Mosaic is on-chain sharding at layer 2 that will work right now on Ethereum v1.0 (and later on ETH v2.0 when it’s ready).

Learn how how OpenST Mosaic compares to (and builds on) other scalability solutions such as Casper, Sharding, and Plasma. Watch the video of Ben’s entire presentation. View all of the slides with technical details on Mosaic.

Press Release

State of the Crypto

Bitcoin is down 0.85% at $6,263.970 with a volume of Ƀ48.0k - $301.6M on the USD pairs.

Ether is down 10.9% against Bitcoin at Ƀ0.02738 per Ether and down 11.99% against the dollar to $170.74 with average volume Ƀ52.1k on the ETH/BTC pair.

Bitcoin Cash is down 9.9% to Ƀ0.06701 with volumes of Ƀ17.0k and down 10.54% against the dollar at $419.5.

Ripple is down 2.65% to Ƀ0.0000412 with volumes of Ƀ10.1k and down 3.08% against the dollar at $0.2577.

Zcash is down 10.68% for the day to Ƀ0.01656 per ZEC and down 11.26% against the dollar to $103.97 with an average volume of Ƀ4.1k for the 24 hour period.

Litecoin is down 9.29% against the dollar for the day at $49.01 and down 8.42% to Ƀ0.007834 on volumes of Ƀ9.4k.

Dash is down 7.21% at Ƀ0.02923 with Ƀ9.6k volume and down 8.45% against the dollar at $182.28.

Iota is down 7.54% to Ƀ0.00008309 on Ƀ1.3k volume.

Ether Classic is down 6.74% to Ƀ0.00166 with volumes of Ƀ11.1k and down 8.63% against the dollar at $10.38.

Monero is down 7.25% against the dollar at $99.44 and down 6.43% against Bitcoin at Ƀ0.01587 on volumes of Ƀ2.7k.

Neo is down 10.2% for the day to Ƀ0.00265 per NEO and down 10.28% against the dollar to $16.58 with an average volume of Ƀ4.7k for the 24 hour period.

Waves is down 10.19% to Ƀ0.0003358 on Ƀ1.2k volume.

Stratis is down 10.99% to Ƀ0.0001968 on Ƀ222.704 volume.

Cardano is down 13.41% to Ƀ0.00001007 on Ƀ2.7k volume.

NEM is down 11.39% to Ƀ0.00001307 on Ƀ644.4 volume.

EOS is down 2.73% to Ƀ0.000771 on Ƀ10.1k volume.

Tron is down 9.15% to Ƀ0.00000278 on Ƀ2.5k volume.

Stellar is down 0.96% to Ƀ0.00003 on Ƀ5.9k volume.

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