Market Analysis Report

17 June 2019

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index closed at 2,795.42 yesterday at 5 pm (GMT) and has since risen 1.73%.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $5,077 representing a loss of 1.81% in the last 24 hours. More than $210M worth of BTC were exchanged in the BTC/USD market representing an 11.3% share of the global daily volume. The pair with most volume was the BTC/USDT with a 75.7% share.

The Ethereum price has dropped 3.01% over the past 24 hours and is currently sitting at $162.8, with over $90M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 6.4% market share of the daily trading volume. The largest ETH trading pair was the ETH/USDT with a 51% share.

See live charts here and here

OKEx Refuses to Bow to Pressure to Delist Bitcoin SV

After Binance’s decision to delist Bitcoin SV, anonymous exchange ShapeShift has also decided to drop the cryptocurrency, with Kraken considering to follow suit.

Today, Malta-based cryptocurrency exchange OKEx announced that it had decided not to delist Bitcoin SV (BSV) "for the time being." The company explained on Twitter:

"According to the OKEx Token Delisting and Hiding Guideline, BSV currently does not meet our delisting criteria. As such, OKEx has no intention to delist BSV for the time being."

Read more here

France To Ask EU Partners To Adopt Its Cryptocurrency Regulation

France will push for the European Union to adopt a regulatory framework on cryptocurrencies similar to the one it brought in last week at a national level, becoming the first major country to do so, French Finance Minister Bruno Le Maire said yesterday.

The French parliament last week approved a financial sector law that included rules aimed at tempting cryptocurrency issuers and traders to set up in France by giving them some official recognition while ensuring the country can tax their profits. Le Maire said in Paris at an event on blockchain technology:

“I will propose to my European partners that we set up a single regulatory framework on crypto-assets inspired by the French experience. Our model is the right one.”

Read more here

Largest Travel Management Firm in UK Accepts Bitcoin

Corporate Traveller, the largest travel management firm in the United Kingdom, is now accepting Bitcoin for payments, according to a press release published yesterday.

A newly announced partnership with crypto payments company BitPay will allow Corporate Traveller to accept Bitcoins. Andy Hegley, U.K. General Manager at Corporate Traveller said:

“We identified an increasing demand from our clients for the option to pay in bitcoin for business travel bookings made by our travel consultants. We chose BitPay to manage our merchant processing because they make it easy and handle the entire process of getting the Bitcoin or Bitcoin Cash from the customer and depositing cash into our account.”

Read more here

The First German Security Token Offering (STO)

The Bitbond STO is the first German Security Token Offering. It has been reported that currently, the Bitbond STO token sale has reached EUR 1.8 million in investment.

The Bitbond token (BB1) is a transferable bond that is issued on the Stellar blockchain. BB1 holders receive five payments per year. Four of these payments constitute 4% fixed interest, to be paid out quarterly (1% per quarter). The 5th payment is variable interest, which is dependent on the performance of underlying loans and paid out annually. 

Regulated STOs undergo greater scrutiny compared to ICOs. There may be greater transparency and rigour than ICOs.

The securities prospectus for the Bitbond STO is written in compliance with EU Prospectus Regulation and was approved by BaFin, the German regulatory body for financial services. 

Additionally, the BaFin approved prospectus includes a commitment from Bitbond to buy-back it’s BB1 tokens at the value of 1 EUR = 1 BB1 token, once the 10-year maturity period is reached. 

Who is Bitbond?

  • Bitbond is a German blockchain platform that established itself in 2013 as the first global lender to small and medium-sized (SME) businesses
  • Bitbond has generated over 15 Million USD in loan volume from over 80 different countries
  • With the funds raised from the STO, Bitbond plans to invest in their platform and fund business loans originated on Bitbond

STOs represents a landmark in digitalised assets and offers the opportunity to invest in a different kind of coin. The Bitbond token sale is still live and discounts are available to new investors.

Learn more here

Press Release

State of the Crypto

Bitcoin is down 1.81% at $5,077.500 with a volume of Ƀ41.4k - $210.0M on the USD pairs.

Litecoin is down 5.19% against the dollar for the day at $78.67 and down 3.49% to Ƀ0.01549 on volumes of Ƀ105.6k.

Ether is down 1.17% against Bitcoin at Ƀ0.03207 per Ether and down 3.01% against the dollar to $162.79 with average volume Ƀ95.7k on the ETH/BTC pair.

Bitcoin Cash is up 7.45% to Ƀ0.06227 with volumes of Ƀ54.9k and up 5.67% against the dollar at $316.84.

EOS is down 1.49% to Ƀ0.001058 on Ƀ54.9k volume.

Ripple is down 0.69% to Ƀ0.0000631 with volumes of Ƀ21.9k and down 2.71% against the dollar at $0.3199.

Tron is down 0.57% to Ƀ0.0000052 on Ƀ11.8k volume.

Ether Classic is down 2.72% to Ƀ0.001214 with volumes of Ƀ11.1k and down 4.78% against the dollar at $6.17.

Dash is down 2.08% at Ƀ0.0235 with Ƀ10.0k volume and down 3.78% against the dollar at $119.36.

Neo is down 2.07% for the day to Ƀ0.002129 per NEO and down 4.51% against the dollar to $10.79 with an average volume of Ƀ7.9k for the 24 hour period.

Zcash is down 1.18% for the day to Ƀ0.01341 per ZEC and down 3.18% against the dollar to $68.13 with an average volume of Ƀ7.9k for the 24 hour period.

Stellar is down 1.77% to Ƀ0.00002226 on Ƀ6.1k volume.

Monero is down 3.42% against the dollar at $64.76 and down 2% against Bitcoin at Ƀ0.01271 on volumes of Ƀ5.3k.

Cardano is down 0.98% to Ƀ0.00001614 on Ƀ3.4k volume.

Waves is down 3.94% to Ƀ0.0005188 on Ƀ1.6k volume.

Iota is up 1.98% to Ƀ0.00006178 on Ƀ1.0k volume.

NEM is down 2.13% to Ƀ0.00001286 on Ƀ478.708 volume.

Stratis is down 1.05% to Ƀ0.0002173 on Ƀ376.41 volume.

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