Market Analysis Report

17 June 2019

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index closed at 3,938.34 yesterday at 5 pm (GMT) and has since decreased 8.84%.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $7,329.representing a loss of 8.3% in the last 24 hours. More than 975M worth of BTC were exchanged in the BTC/USD market representing a 17.7% share of the global daily volume. The pair with most volume was the BTC/USDT with a 64.4% share.

The Ethereum price has dropped 7.74% over the past 24 hours and is currently sitting at $240, with over $610M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 9.7% market share of the daily trading volume. The largest ETH trading pair was the ETH/USDT with a 47.1% share.

See live charts here and here

Tether Ordered to Freeze Transfers to Bitfinex

A New York judge ordered crypto exchange Bitfinex and its affiliated stablecoin issuer Tether to turn over the documentation about a loan and a line of credit Tether provided to Bitfinex. Judge Joel Cohen, of the state’s Supreme Court, ordered Bitfinex and Tether execs and employees stop loaning Tether’s reserves to Bitfinex, alongside a number of other stipulations during an ongoing investigation by the New York Attorney General’s office (NYAG). In a statement, Bitfinex praised the judge’s decision, writing:

“We believe that the court’s decision today leaves no doubt that both Tether and Bitfinex are entitled to run their businesses in the ordinary course, even during the short period when this now narrowed preliminary injunction is in place.”

Read more here

Poloniex Prevents Sale of 9 Crypto Assets In US

Poloniex announced that it will prevent US buyers from purchasing nine crypto assets. Poloniex said that the assets – ARDR, BCN, DCR, GAME, GAS, LSK, NXT, OMNI, and REP – are dangerously close to being securities under US law. Non-US buyers will still have access to the tokens. The company stated:

“It is not possible to be certain whether US regulators will consider these assets to be securities."

Read more here

Ledger Saw Sales Double After Binance Got Hacked

The CEO of cryptocurrency hardware wallet Ledger, Pascal Gauthier, has recently revealed that after leading cryptocurrency exchange Binance got hacked for $40 million last week, the firm’s sales doubled, presumably as users worried about their funds’ security. The sales increase was revealed as the future of money and the importance of security in the cryptocurrency space was addressed. Gauthier was quoted as saying:

"Binance got hacked, and the day Binance got hacked, our sales doubled."

Read more here

State of the Crypto

Bitcoin is down 8.3% at $7,329.350 with a volume of Ƀ129.7k - $978.7M on the USD pairs.

Ether is up 3.4% against Bitcoin at Ƀ0.03285 per Ether and down 7.74% against the dollar to $240.93 with average volume Ƀ210.5k on the ETH/BTC pair.

Litecoin is down 12.47% against the dollar for the day at $87.45 and down 5.1% to Ƀ0.01192 on volumes of Ƀ103.3k.

EOS is up 0.57% to Ƀ0.0008145 on Ƀ72.9k volume.

Ripple is down 5.85% to Ƀ0.00005217 with volumes of Ƀ55.3k and down 13.95% against the dollar at $0.3824.

Bitcoin Cash is down 2.85% to Ƀ0.05015 with volumes of Ƀ41.2k and down 11.97% against the dollar at $366.46.

Zcash is up 0.22% for the day to Ƀ0.009685 per ZEC and down 8.85% against the dollar to $70.68 with an average volume of Ƀ35.2k for the 24 hour period.

Ether Classic is up 0.43% to Ƀ0.0009812 with volumes of Ƀ19.4k and down 10.46% against the dollar at $7.19.

Neo is down 3.79% for the day to Ƀ0.001522 per NEO and down 11.57% against the dollar to $11.16 with an average volume of Ƀ17.2k for the 24 hour period.

Tron is down 6.6% to Ƀ0.00000354 on Ƀ15.5k volume.

Stellar is down 7.5% to Ƀ0.00001689 on Ƀ12.0k volume.

Dash is down 4.31% at Ƀ0.01866 with Ƀ11.4k volume and down 12.91% against the dollar at $136.94.

Cardano is down 6.43% to Ƀ0.00001092 on Ƀ7.8k volume.

Monero is down 9.57% against the dollar at $82.21 and down 1.76% against Bitcoin at Ƀ0.01119 on volumes of Ƀ3.3k.

NEM is down 2.21% to Ƀ0.0000115 on Ƀ2.9k volume.

Waves is down 3.69% to Ƀ0.0003161 on Ƀ2.4k volume.

Iota is down 3.6% to Ƀ0.00005167 on Ƀ1.6k volume.

Stratis is down 7.28% to Ƀ0.0001134 on Ƀ350.383 volume.

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