Market Analysis Report

17 June 2019

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index closed at 1,970.90 yesterday at 5 pm (GMT) and has since increased 0.13%.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $3,750 representing a gain of 2.88% in the last 24 hours. More than 230 M worth of BTC were exchanged in the BTC/USD market representing a 15.37% share of the global daily volume. The BTC/JPY pair represents a 9.82% share.

The Ethereum price has increased 11.25% over the past 24 hours and is currently sitting at $139, with over $200 M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 12.48% market share of the daily trading volume.

See live charts here and here

StellarX Acquired by Leading Canadian Exchange Coinsquare

Last Thursday, StellarX announced it has acquired by Coinsquare, one of the largest digital asset trading platforms in Canada. According to the blog post, Coinsquare’s management will be guiding StellarX’s developers in implementing appropriate measures to help StellarX comply with regulatory standards. StellarX’s management team stated:

"Coinsquare is the perfect fit. They are already the leading Canadian cryptocurrency platform. They have very close relationships with regulators in the US, Europe, and Canada. The Bank of Montreal is their banking partner."

Read more here

Ethereum Scaling Tech Monoplasma Wants to Let Dapps Broadcast Crypto

Streamr has officially released a new open-source ethereum scaling technology called Monoplasma, which will be used to crowd sell user data on a blockchain and perform "one-to-many payments”, allowing to “repeatedly distribute value to a large and dynamic set of ethereum addresses". Streamr CEO, Henri Pihkala, explained that Monoplasma is inspired on a pre-existing scaling solution called plasma and it isn't just about revenue sharing. Rather, the technology is envisioned for open-source decentralized applications (dapps) looking to incorporate “dividend distributions, staking rewards, repeated airdrops,” and more. The code developed could be found at the following Github link.

Read more here

Argentina and Paraguay Settle Export Deal in Bitcoin in Landmark Event

Paraguay has reportedly recently paid for an Argentinian shipment worth little over $7,000 in bitcoin, as part of a new program incentivizing small shipments. Argentina sold Paraguay pesticides and fumigation products and paid for the products in BTC, which was then converted to Argentina’s fiat currency, the peso, according to a news outlet. The transaction was completed with the help of Bitex, a Latin American financial services firm that supports bitcoin payments.

Read more here

Xena Exchange - A Digital Asset Exchange from Investment-Banking Professionals

Xena Exchange — an innovative digital asset exchange — has already launched its derivative contract trading engine, which complements its existing spot engine. The first cryptocurrency-settled derivative contract to be launched is for Bitcoin to USD.

On February 27, the contract for GRAM (the Telegram TON project token) will be launched on the exchange. According to Xena Exchange CEO Anton Kravchenko, it is likely to rebound positively on the price of the actual GRAM token.

“This is an extremely prominent step for the entire crypto market, considering the importance of the GRAM token and its potential value as an asset for derivative contracts trading. This is the first time on the cryptocurrency market where contracts have been used not only to speculate on the rates changes but also to hedge the risks.”

Anton Kravchenko, CEO of Xena Exchange

Basically, the opportunity to invest in cryptocurrency through contracts is likely to attract institutional and traditional investors, thus generating cash flows into the crypto market, increasing the trading volume, and lowering volatility.

Xena Exchange issues institutional-grade derivative contracts called Xena Listed Perpetuals, designed with a focus on the specifics of the cryptocurrency market. While allowing for high leverage (up to 100x), they utilize built-in mechanics to protect traders from sudden price swings and unnecessary liquidations. Currently, Perpetuals make the settlement through BTC, and later, the settlement of fiat currency will also become possible and the risk of BTC/fiat currency volatility losses will be rendered null.

Additionally, Perpetuals do not expire, which gives them an advantage toward futures, and they adopt the current spot price of the underlying asset or index.

Read more here

Press Release

State of the Crypto

Bitcoin is up 2.88% at $3,750.810 with a volume of Ƀ64.4k - $237.2M on the USD pairs.

Ether is up 7.98% against Bitcoin at Ƀ0.03696 per Ether and up 11.25% against the dollar to $139.07 with average volume Ƀ132.8k on the ETH/BTC pair.

Bitcoin Cash is up 3.15% to Ƀ0.03471 with volumes of Ƀ12.2k and up 7.21% against the dollar at $130.49.

Ripple is down 0.22% to Ƀ0.00008279 with volumes of Ƀ24.8k and up 2.9% against the dollar at $0.3126.

Zcash is down 0.14% for the day to Ƀ0.01403 per ZEC and up 2.99% against the dollar to $53.37 with an average volume of Ƀ7.6k for the 24 hour period.

Litecoin is up 1.3% against the dollar for the day at $44.48 and down 1.83% to Ƀ0.01183 on volumes of Ƀ36.2k.

Dash is down 0.92% at Ƀ0.02152 with Ƀ7.3k volume and up 1.99% against the dollar at $81.94.

Iota is down 1.77% to Ƀ0.00007538 on Ƀ498.249 volume.

Ether Classic is down 0.44% to Ƀ0.001124 with volumes of Ƀ4.8k and up 2.4% against the dollar at $4.26.

Monero is up 4.44% against the dollar at $49.66 and up 1.4% against Bitcoin at Ƀ0.01303 on volumes of Ƀ1.4k.

Neo is down 4.58% for the day to Ƀ0.00225 per NEO and down 1.71% against the dollar to $8.6 with an average volume of Ƀ9.4k for the 24 hour period.

Waves is down 1.75% to Ƀ0.0007075 on Ƀ2.5k volume.

Stratis is down 0.39% to Ƀ0.0002326 on Ƀ480.41 volume.

Cardano is up 1.15% to Ƀ0.00001146 on Ƀ2.0k volume.

NEM is down 1.59% to Ƀ0.00001117 on Ƀ641.37 volume.

EOS is up 0.81% to Ƀ0.0007855 on Ƀ33.2k volume.

Tron is down 1.69% to Ƀ0.00000641 on Ƀ4.2k volume.

Stellar is down 0.51% to Ƀ0.00002142 on Ƀ2.5k volume.

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