Market Analysis Report

17 June 2019

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index closed at 1,838.61 yesterday at 5 pm (GMT) and has since dropped 2.54%.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $3,403 representing a loss of 2.08% in the last 24 hours. More than $130M worth of BTC were exchanged in the BTC/USD market representing a 14% share of the global daily volume. The BTC/JPY pair represents a 10% share.

The Ethereum price has dropped 4.55% over the past 24 hours and is currently sitting at $104, with over $50M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has an 8% market share of the daily trading volume.

See live charts here and here

Cboe Resubmits the VanEck/SolidX Bitcoin ETF Proposal

Yesterday, Cboe resubmitted its joint proposal with VanEck and SolidX to launch the first U.S. Bitcoin Exchange-Traded Fund (ETF). The filling would, if approved by the Securities and Exchange Commission (SEC), allow the Cboe BZX Exchange to list shares of a Bitcoin ETF trust. Many proponents of a Bitcoin ETF believe that the fund will help bring fresh money into the space, creating a more liquid market. Once the proposal is published, the SEC will have a maximum of 240 days to decide whether to approve or reject the proposal.

Read more here

Binance Enables Purchases With Visa And MasterCard

Yesterday, cryptocurrency exchange Binance, the world’s largest by trading volume, announced that it has partnered with Israel-based payments processing firm Simplex to enable purchases with Visa and MasterCard credit cards. At launch, the exchange is supporting credit card purchases for Bitcoin (BTC), Ether (ETH), Litecoin (LTC) and Ripple (XRP). These can then be traded against up to 151 other tokens offered by the exchange. The CEO of Binance, Changpeng Zhao, stated:

“The crypto industry is still in its early stages and most of the world’s money is still in fiat. Building fiat gateways is what we need now to grow the ecosystem, increase adoption and introduce crypto to more users.”

Read more here

South Korea’s Financial Regulator Reveals ICO Ban Will Be Maintained

South Korea is reportedly maintaining its ban on Initial Coin Offerings (ICOs) as the country’s financial regulator, the Financial Services Commission (FSC), has recently found some projects that violated the ban, and decided the offerings are highly risky for investors.

According to a recently published press release, the FSC has discovered cryptocurrency startups that have been illegally raising funds in South Korea. Some projects set up companies in Singapore to circumvent the ICO ban and raise funds from South Korean investors. The findings were supported by marketing materials such as white papers, written in Korean. Additionally, some ICO projects didn’t reveal important information to investors, including financial statements. The press release states:

"The government has taken a cautious stance on the institutionalization of ICOs. We will stick to it."

Read more here

State of the Crypto

Bitcoin is down 2.08% at $3,403.070 with a volume of Ƀ39.6k - $135.8M on the USD pairs.

Ether is down 2.32% against Bitcoin at Ƀ0.03068 per Ether and down 4.55% against the dollar to $104.8 with average volume Ƀ63.3k on the ETH/BTC pair.

Bitcoin Cash is down 3.49% to Ƀ0.03261 with volumes of Ƀ5.4k and down 5.37% against the dollar at $111.19.

Ripple is down 6.07% to Ƀ0.00008797 with volumes of Ƀ34.8k and down 7.98% against the dollar at $0.3022.

Zcash is down 1.61% for the day to Ƀ0.01405 per ZEC and down 3.64% against the dollar to $48.51 with an average volume of Ƀ6.5k for the 24 hour period.

Litecoin is down 3.46% against the dollar for the day at $30.96 and down 1.23% to Ƀ0.009076 on volumes of Ƀ24.2k.

Dash is down 1.67% at Ƀ0.01943 with Ƀ7.6k volume and down 3.47% against the dollar at $67.32.

Iota is down 5.4% to Ƀ0.0000729 on Ƀ486.268 volume.

Ether Classic is down 0.61% to Ƀ0.001134 with volumes of Ƀ4.0k and down 2.98% against the dollar at $3.91.

Monero is down 3.06% against the dollar at $43.42 and down 0.94% against Bitcoin at Ƀ0.01261 on volumes of Ƀ1.4k.

Neo is down 2.55% for the day to Ƀ0.001985 per NEO and down 4.56% against the dollar to $6.9 with an average volume of Ƀ2.5k for the 24 hour period.

Waves is down 2.05% to Ƀ0.0008011 on Ƀ3.0k volume.

Stratis is down 5.36% to Ƀ0.0002205 on Ƀ519.253 volume.

NEM is down 11.39% to Ƀ0.00001159 on Ƀ2.4k volume.

EOS is down 0.19% to Ƀ0.000669 on Ƀ33.6k volume.

Tron is down 4.7% to Ƀ0.0000075 on Ƀ10.6k volume.

Stellar is down 6.95% to Ƀ0.00002344 on Ƀ4.0k volume.
Trending forum posts
We are based in London UK and our team is working round the clock to keep this service up and running. If you wish to contact us just drop us an email to info@cryptocompare.com, reply to this email or chat with one of our team on the discussion board.