Market Analysis Report

17 June 2019

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index closed at 2,745.45 yesterday at 5 pm (GMT) and has since dropped 2.29%.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $5,235 representing a loss of 3.71% in the last 24 hours. More than $500M 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 72% share.

The Ethereum price has dropped 5.32% over the past 24 hours and is currently sitting at $154.7, with over $140M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 6.8% 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

NY Prosecutors Allege That Bitfinex Covered $850 Million Loss

Yesterday, the New York Attorney General’s office has alleged that cryptocurrency exchange Bitfinex lost $850 million and subsequently used funds from affiliated stablecoin operator Tether to secretly cover the shortfall.

According to a press release issued yesterday, NYAG Letitia James announced that she had obtained a court order against iFinex Inc., which operates both Bitfinex and Tether, ordering them to cease violating New York law and defrauding New York residents. Later, Bitfinex responded issuing the following statement:

"Earlier today, the New York Attorney General’s office released an order it obtained – without notice or a hearing – in an attempt to compel Bitfinex and Tether to provide certain documents and seeking certain injunctive relief. The New York Attorney General’s court filings were written in bad faith and are riddled with false assertions, including as to a purported $850 million “loss” at Crypto Capital.
On the contrary, we have been informed that these Crypto Capital amounts are not lost but have been, in fact, seized and safeguarded. We are and have been actively working to exercise our rights and remedies and get those funds released. Sadly, the New York Attorney General’s office seems to be intent on undermining those efforts to the detriment of our customers."

Read more here

Visa and Mastercard Available Via Binance App for Android

On Thursday (April 25), Binance announced that its mobile app for Android now lets you buy with Mastercard or Visa some of the most popular cryptocurrencies that are listed on Binance.com. According to Binance, this support for cryptocurrency purchases via debit/credit cards, which is possible as a result of the partnership with Fintech startup Simplex that was announced on January 31, is available in version 1.5.8.0 or higher of the "Binance - Cryptocurrency Exchange" app for Android.

Read more here

Samsung SDS Releases New Version of Enterprise Blockchain

Samsung SDS, the IT subsidiary of international technology giant Samsung Group, has released a new version of its enterprise blockchain platform dubbed Nexledger Universal, according to a press release published on April 24. Nexledger Universal offers an application programming interface that can be applied to different blockchains like Ethereum, Hyperledger Fabric and the firm’s own Nexledger Consensus Algorithm. Nexledger Universal is currently available on Microsoft’s Azure marketplace. Jeanie Hong, senior vice president, leader of Blockchain Center at Samsung SDS said:

“We plan to expand our cloud-based blockchain platform by registering Nexledger Universal on other cloud marketplaces.”

Read more here

The Countdown Begins… Will you be there?

The CryptoCompare Digital Asset Summit is less than 50 days away and we’re very excited to give you a sneak peak of what to expect on the day.

Speakers: The summit hosts world-renowned speakers and panellists including keynote Andreas M. Antonopoulos, Peter McCormack - host of What Bitcoin Did podcast, Meltem Demirors - Chief Strategy Officer at CoinShares, Gabor Gurbacs - Director, Digital Assets Strategy at VanEck and many more.

Agenda: While the agenda is still being drafted, it will cover key topics including:

  • 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

Networking: Meet representatives from major institutions, get to know like-minded individuals and hang out with the CryptoCompare team. Whether you’re looking for knowledge, connections, or business opportunities, you’ll leave this conference with a network that will last you long after the summit is over. See attending companies »

Meet Andreas M. Antonopoulos - author of the best-selling Mastering Bitcoin, The Internet of Money Series and Mastering Ethereum - for a book signing session.

Book tickets »

Press Release

State of the Crypto

Bitcoin is down 3.71% at $5,235.170 with a volume of Ƀ98.0k - $515.8M on the USD pairs.

Ether is down 1.99% against Bitcoin at Ƀ0.02948 per Ether and down 5.32% against the dollar to $154.7 with average volume Ƀ129.1k on the ETH/BTC pair.

Litecoin is down 0.85% against the dollar for the day at $72.31 and up 2.98% to Ƀ0.01382 on volumes of Ƀ83.3k.

EOS is up 1.74% to Ƀ0.0008864 on Ƀ54.7k volume.

Ripple is up 1.44% to Ƀ0.00005572 with volumes of Ƀ30.5k and down 2.48% against the dollar at $0.2915.

Bitcoin Cash is down 1.01% to Ƀ0.05084 with volumes of Ƀ29.5k and down 4.42% against the dollar at $267.03.

Tron is up 0.93% to Ƀ0.00000432 on Ƀ16.2k volume.

Zcash is down 5.85% for the day to Ƀ0.01126 per ZEC and down 7.26% against the dollar to $60.38 with an average volume of Ƀ11.5k for the 24 hour period.

Ether Classic is down 1.93% to Ƀ0.001015 with volumes of Ƀ10.9k and down 5.67% against the dollar at $5.32.

Dash is down 3.7% at Ƀ0.02085 with Ƀ10.3k volume and down 5.39% against the dollar at $111.53.

Neo is down 5.6% for the day to Ƀ0.001788 per NEO and down 6.78% against the dollar to $9.62 with an average volume of Ƀ9.9k for the 24 hour period.

Monero is down 4.78% against the dollar at $63.88 and down 2.76% against Bitcoin at Ƀ0.01198 on volumes of Ƀ9.4k.

Stellar is down 0.53% to Ƀ0.00001877 on Ƀ6.0k volume.

Cardano is down 2.25% to Ƀ0.00001305 on Ƀ5.9k volume.

Iota is down 4.74% to Ƀ0.00004846 on Ƀ1.5k volume.

Waves is down 6.7% to Ƀ0.0004097 on Ƀ1.2k volume.

NEM is up 1.1% to Ƀ0.00001098 on Ƀ547.327 volume.

Stratis is down 5.75% to Ƀ0.0001591 on Ƀ377.62 volume.
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