Market Analysis Report

17 June 2019

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index closed at 3,857.49 yesterday at 5 pm (GMT) and has since dropped 3.40%

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $7,970 representing a gain of 0.14% in the last 24 hours. More than 650M worth of BTC were exchanged in the BTC/USD market representing a 12.6% share of the global daily volume. The pair with most volume was the BTC/USDT with a 71.7% share.

The Ethereum price has dropped 2.48% over the past 24 hours and is currently sitting at $250, with over $200M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 6.7% market share of the daily trading volume. The largest ETH trading pair was the ETH/USDT with a 51.8% share.

See live charts here and here

CryptoCompare Publishes Exchange Review for April 2019

London, 20th May 2019: CryptoCompare today released its April 2019 Exchange Review, offering investors, analysts and regulators analysis of key developments in the cryptocurrency exchange market.

As with previous reviews, it covers exchange rankings by volume; country analysis and predominant fee type model; derivatives and institutional products; fiat, bitcoin and stablecoin volumes. It is also focused on how volumes have developed historically for the top trans-fee mining and decentralised exchanges.

Key highlights:

  • Top crypto-to-crypto exchanges: Monthly volumes increased by 57%. Fcoin topped the rankings at USD 37.1bn (up 300%), followed by OKEx and ZB at USD 35.1bn (up 12.4%) and USD 32.4bn (up 18.8%) respectively.
  • Transaction fee mining exchanges: There was a sharp increase in TFM volumes, led by FCoin at USD 37.1bn (up 300%), followed by CoinBene at USD 27bn (up 51.5%) and ZBG at USD 16bn (up 37.2%).
  • Institutional bitcoin derivatives: CME continues to dominate with average daily volumes of USD 256m (up 263%), followed by Grayscale’s bitcoin trust product (GBTC) at USD 29.7m (up 239%). Despite having chosen to cease listing additional bitcoin futures products, CBOE’s bitcoin futures traded a daily average of USD 9.9m (up 109%).

See all highlights & full report »

Facebook Registers ‘Libra’ Cryptocurrency Firm in Switzerland

According to a Reuters report, Facebook registered a new company, Libra Networks, in Geneva on May 2. Facebook Global Holdings is a stockholder in the new company and it will, according to Reuters, “provide financial and technology services and develop related hardware and software, plans submitted on the Swiss register reveal.”

Facebook’s march towards crypto has been slow and steady. The company’s latest move, the hiring of two Coinbase compliance managers, happened on May 14. The Libra project has ruffled some feathers in Congress, as well. US lawmakers sent an open letter to the company seeking clarification on the currency’s purpose and implications. They wrote:

"The Wall Street Journal recently reported that Facebook is recruiting dozens of financial firms and online merchants to help launch a cryptocurrency-based payments system using its social network. Last year, Facebook asked U.S. banks to share detailed financial information about consumers. In addition, privacy experts have raised questions about Facebook’s extensive data collection practices and whether any of the data collected by Facebook is being used for purposes that do, or should subject Facebook to the Fair Credit Reporting Act."

Read more here

Circle Releases Attestation Report on USDC’s USD Reserves

Goldman Sachs-backed crypto finance startup Circle has published the latest third-party audit of its USD-pegged stablecoin, USD Coin (USDC). The company reported the update in a blog post published on May 17 and stated that the audit of the coin’s fiat reserves was conducted by major Chicago-based accounting firm Grant Thornton LLP.

The report released by the firm states that as of April 30, 2019, at 11:59 p.m. Pacific Time there were 293,184,174 USDC issued, and that there were $293,351,374 in the firm’s reserves. Lastly, the auditing firm claims that, at the time specified above, the issued and outstanding USDC tokens did not exceed the balance of the U.S. dollars held in custody.

Read more here

State of the Crypto

Bitcoin is up 0.14% at $7,970.390 with a volume of Ƀ81.2k - $652.0M on the USD pairs.

Ether is down 2.66% against Bitcoin at Ƀ0.03146 per Ether and down 2.48% against the dollar to $250.72 with average volume Ƀ93.8k on the ETH/BTC pair.

Litecoin is down 2.72% against the dollar for the day at $91.59 and down 2.87% to Ƀ0.0115 on volumes of Ƀ76.1k.

EOS is down 1.63% to Ƀ0.0007851 on Ƀ49.2k volume.

Bitcoin Cash is up 1.63% to Ƀ0.05127 with volumes of Ƀ27.9k and up 2.16% against the dollar at $409.19.

Ripple is down 2.12% to Ƀ0.00005036 with volumes of Ƀ26.5k and down 1.88% against the dollar at $0.4013.

Dash is up 11.6% at Ƀ0.02136 with Ƀ16.4k volume and up 11.87% against the dollar at $170.12.

Zcash is down 1.12% for the day to Ƀ0.009498 per ZEC and down 0.93% against the dollar to $75.52 with an average volume of Ƀ14.4k for the 24 hour period.

Tron is down 3.36% to Ƀ0.00000345 on Ƀ13.2k volume.

Ether Classic is down 4.53% to Ƀ0.0009353 with volumes of Ƀ7.3k and down 4.11% against the dollar at $7.47.

Neo is down 4.14% for the day to Ƀ0.001411 per NEO and down 3.85% against the dollar to $11.24 with an average volume of Ƀ6.4k for the 24 hour period.

Stellar is down 3.32% to Ƀ0.0000172 on Ƀ5.0k volume.

Cardano is down 3.87% to Ƀ0.00001044 on Ƀ3.4k volume.

Monero is up 2.08% against the dollar at $89.03 and up 2.1% against Bitcoin at Ƀ0.01118 on volumes of Ƀ2.2k.

Waves is up 0.82% to Ƀ0.000309 on Ƀ1.4k volume.

Iota is down 2.61% to Ƀ0.00005114 on Ƀ776.649 volume.

NEM is down 4.4% to Ƀ0.00001131 on Ƀ549.317 volume.

Stratis is down 1.86% to Ƀ0.000111 on Ƀ179.772 volume.

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