Market Analysis Report

17 June 2019

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index closed at 2,947.90 yesterday at 5 pm (GMT) and has since risen 1.46%.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $5,208 representing a loss of 0.83% in the last 24 hours. More than $400M worth of BTC were exchanged in the BTC/USD market representing a 14.5% share of the global daily volume. The pair with most volume was the BTC/USDT with a 71.2% share.

The Ethereum price has dropped 5.49% over the past 24 hours and is currently sitting at $171, with over $170M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 7.1% market share of the daily trading volume. The largest ETH trading pair was the ETH/USDT with a 49.2% share.

See live charts here and here

Coinbase Launches Crypto Visa Debit Card for UK and EU Customers

Cryptocurrency exchange Coinbase has launched a Visa debit card allowing customers in the U.K. to spend their cryptocurrencies directly from their Coinbase accounts. The San Francisco-based firm announced the news in a blog post published today, saying that with the Coinbase Card customers will be able to spend their Bitcoin (BTC), Ether (ETH), Litecoin (LTC) and other cryptocurrencies “as effortlessly as the money in their bank.” The exchange also said that it will “instantly” convert cryptocurrency to fiat currency, such as the British pound (GBP), when customers complete a transaction using the debit card.

The card supports all crypto assets available to buy and sell on the Coinbase platform, and customers can use them to pay for everyday purchases, such as a meal or booking tickets, according to the announcement. The exchange has also launched an app for the card on both Android and iOS platforms, enabling customers to select which cryptocurrency wallet they will use to fund their spending. The app also offers “instant” receipts, transaction summaries and spending categories.

Read more here

Bittrex Responds to NYDFS Denial of BitLicense Application

United States-based cryptocurrency exchange Bittrex has responded to the New York Department of Financial Services’ (NYDFS) denial of the company's BitLicense application in a press release published yesterday. The NYDFS denied Bittrex’s application for a BitLicense — which is required to conduct virtual currency related business in the state of New York — claiming that the exchange had inadequate policies and controls regarding Anti-Money Laundering (AML), Know Your Customer (KYC) and the Office of Foreign Assets Control (OFAC) standards.

In its response, Bittrex expressed its disappointment in the NYDFS’ decision and argued that the regulation “harms rather than protects New York customers.” The exchange also explained its disagreement with NYDFS’ claims in regard to its AML and compliance practices. The press release reads

"Bittrex is saddened and disappointed in today’s decision by the New York Department of Financial Services (NYDFS), which we believe harms rather than protects New York customers. Bittrex fully disputes the findings of the NYDFS in today’s decision. We have worked diligently with NYDFS to address their questions and meet their requirements since first applying for our BitLicense in August of 2015."

Read more here

TrueUSD: Third-Party Audit Reveals Full US Dollar Backing

TrustToken, the organization behind the TrueUSD (TUSD) stablecoin, has recently published a blog post revealing a third-party audit to its reserves that shows it has US dollars in its reserves to back every TUSD in circulation. According to the Independent Accountants’ Report, created by certified accounting firm Cohen & Company, as of March 31 of this year, TrustToken has a US dollar balance of $199,063,885 in its accounts, a figure above the 198,982,291 TUSD tokens in circulation. The report reads:

"The supply of TUSD tokens can be reconciled to transactions within the escrow accounts including escrow deposits awaiting token minting and tokens which have been burned and are awaiting escrow disbursement."

Read more here

4 days left for Early Bird tickets at the CryptoCompare Digital Asset Summit

The CryptoCompare Digital Asset Summit is coming along nicely with more great speakers joining. The newly announced speakers include Meltem Demirors - Chief Strategy Officer at CoinShares, Martin Etheridge - Head of Notes Operations at The Bank of England, Jemima Kelly - FT Alphaville Reporter at Financial Times, Josh Goodbody - General Counsel at Huobi and Kevin Beardsley - Head of Business Development at Elwood Asset Management.

The speakers join confirmed keynote Andreas M. Antonopoulos - best-selling author, speaker, educator, and one of the world’s foremost bitcoin and open blockchain experts, Peter McCormack - the renowned host of What Bitcoin Did podcast, Gabor Gurbacs - Director, Digital Assets Strategy at VanEck, and many more.

What to be excited about?

Exclusive panels and presentations providing insights into:

  • The upcoming regulatory developments in the UK
  • The future of stablecoins
  • Opportunities and challenges for traditional financial institutions
  • Crypto derivatives and exchange-traded products
  • Exchange market integrity and consumer protection.

You will have the opportunity to meet Andreas M. Antonopoulos - author of the best-selling Mastering Bitcoin, The Internet of Money Series and Mastering Ethereum - for a book signing session.

Join us and meet top-tier speakers and industry professionals who will explore the direction of the cryptoasset industry and its emergence into traditional finance.

Only 4 days left for Early Bird tickets - 50% off until 15 April!

BUY TICKETS »

Press Release

State of the Crypto

Bitcoin is down 0.83% at $5,208.880 with a volume of Ƀ76.9k - $407.2M on the USD pairs.

Ether is down 4.48% against Bitcoin at Ƀ0.03287 per Ether and down 5.49% against the dollar to $171.08 with average volume Ƀ155.9k on the ETH/BTC pair.

Litecoin is down 4.23% against the dollar for the day at $84.74 and down 3.27% to Ƀ0.01629 on volumes of Ƀ109.5k.

EOS is down 2.17% to Ƀ0.001084 on Ƀ89.1k volume.

Ripple is down 4.86% to Ƀ0.00006465 with volumes of Ƀ36.7k and down 5.66% against the dollar at $0.3367.

Bitcoin Cash is down 11.35% to Ƀ0.05427 with volumes of Ƀ23.6k and down 6.64% against the dollar at $282.58.

Tron is down 7.52% to Ƀ0.00000529 on Ƀ19.3k volume.

Ether Classic is down 6.32% to Ƀ0.001274 with volumes of Ƀ15.5k and down 7.24% against the dollar at $6.66.

Zcash is down 3.83% for the day to Ƀ0.0133 per ZEC and down 4.97% against the dollar to $69.21 with an average volume of Ƀ12.9k for the 24 hour period.

Dash is down 3.68% at Ƀ0.02436 with Ƀ10.4k volume and down 4.83% against the dollar at $126.58.

Neo is down 7.44% for the day to Ƀ0.002227 per NEO and down 8.81% against the dollar to $11.6 with an average volume of Ƀ8.0k for the 24 hour period.

Cardano is down 0.06% to Ƀ0.00001647 on Ƀ7.3k volume.

Stellar is down 5.76% to Ƀ0.00002274 on Ƀ7.2k volume.

Monero is down 3.16% against the dollar at $67.65 and down 1.96% against Bitcoin at Ƀ0.01301 on volumes of Ƀ5.3k.

Waves is down 6.4% to Ƀ0.0005088 on Ƀ4.0k volume.

Iota is down 4.87% to Ƀ0.00006366 on Ƀ965.499 volume.

NEM is down 5.63% to Ƀ0.00001324 on Ƀ793.357 volume.

Stratis is down 7.91% to Ƀ0.0002295 on Ƀ707.689 volume.

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