Latest Cryptocurrency News & Press Releases

 

 

 

background image

Bitvo.com

Bitcoin (BTC)

C$14,443 (US$10,950) 

June 24, 2:10 pm

Shane Thomson, CFA  

shane@bitvo.com 

403.407.0046

Technical Trading Score*:
Date Of Inception:

2009

Primary Use:

CURRENCY

18mm

Coin Profile

Bitcoin

is

a

decentralized

coin

enabling

revolutionary  means  to  exchange  value  across  the

globe.  It  continues  to  be  the  biggest  and  most

influential  coin,  encouraging  peer-to-peer  payment

networks  powered  by  its  users  with  no  central  or

middle authority.

Page 1 of 8

Coins Outstanding:

Maximum Coins:

21 mm

POW or POS:

WORK

Current Mining Fee (USD):

~$2 .28

Website:

https://bitcoin.org

June 24, 2019

All figures in USD$, unless otherwise specified 

LOG IN TO VIEW

■ General Cryptocurrency News:

Facebook released a white paper last week detailing plans for its own

cryptocurrency, Libra, and blockchain-based infrastructure. The

cryptocurrency, which is expected to be available some time in 2020, will

be a form of stable coin, backed by a basket of assets including multiple

fiat currencies.

Libra will be governed by a Swiss-based not-for-profit consortium call the

Libra Association, which also includes high profile technology and payment

processing partners such as MasterCard, PayPal, Visa, eBay and Uber.

The association will have approximately 100 members in total, each

investing a minimum of US$10 million, which secures one vote on the Libra

council. Facebook has stated it will limit itself to one vote on the council.

Big Four auditing firm PwC released a cryptocurrency auditing software

solution last week. The tool, which has been added to the PwC Halo

auditing suite, can be used to “provide assurance services for entities

engaging in cryptocurrency transactions”. According to PwC, the Halo suite

will allow for the provision of independent evidence of private-public key

pairing, as well as the gathering of information about transactions and

balances from blockchains.

■ BTC News:

The price of Bitcoin continued its upward surge last week breaking through

US$11,000 only 24 hours after the important US$10,000 level was

breached.

Google searches for “Bitcoin” saw an increase last week, amidst

Facebook’s announcement and the continued increase in the price of

Bitcoin.

However, Google searches remain well below historic highs at only 10% of

what they were in late 2017 suggesting that retail buyers’ FOMO has not

yet become a major driver of the recent price momentum.

■ Trading History YTD:

After a slow grind sideways for the first three months of 2019, the price of

BTC shot up at the beginning of April.

With the exception of a slight corrections, positive momentum in the price of

BTC has continued since.

Current Environment:

The price of BTC started the week last week stable to slightly down before

resuming positive momentum and breaking through the important US

$10,000 level towards the end of the week.

Volumes for the week were lower, averaging 2.0 million coins per day.

In the image above, a Bull represents relatively favourable technical analysis indicators and a Bear represents relatively unfavourable technical analysis indicators.

 

 

 

background image

Bitvo.com

Technical Trading Score*:
Date Of Inception:

2014

Primary Use:

SMART CONTRACTS

Coins Outstanding:

106mm

Coin Profile

Ethereum  is  a  decentralized  platform  that  runs

smart  contracts:  applications  that  run  exactly  as

programmed  without  any  possibility  of  downtime,

censorship,  fraud  or  third-party  interference.  These

apps  run  on  a  custom built  blockchain.  Ether  is  the

cryptocurrency  generated  by  and  used  on  the

Ethereum platform.

Maximum Coins:

NO MAX

POW or POS:

WORK

Website:

https://www.ethereum.org/

Ether (ETH)

C$408 (US$309) 

June 24, 2:10 pm

All figures in USD$, unless otherwise specified 

Page 2 of 8

Shane Thomson, CFA  

shane@bitvo.com 

403.407.0046

~$0.165

Current Mining Fee (USD):

LOG IN TO VIEW

June 24, 2019

■ ETH News:

The price of Ether hit a 10-month high last week amidst a continued rally

in cryptocurrencies globally.

Grayscale commenced OTC trading of its Ether-based security last week,

an open-ended trust that holds Ether. This product allows traders to gain

exposure to Ether without actually holding the cryptocurrency.

■ Trading History YTD:

After declining in January, the price of ETH has experienced positive

momentum for most of 2019.

However, with the recent positive performance of BTC, ETH has

underperformed BTC, with the price of ETH in BTC terms generally

trending down since the end of February.

■ Current Environment:

The price of ETH was stable to start the week last week before positive

momentum resumed mid-week in USD terms.

In BTC terms, the price of ETH was generally static throughout the week,

ending the week slightly lower than where it started.

Volumes for the week averaged 26.0 million coins per day, which is lower

than the previous week’s volumes of 32.6 million coins per day.

In the image above, a Bull represents relatively favourable technical analysis indicators and a Bear represents relatively unfavourable technical analysis indicators.

 

 

 

background image

Bitvo.com

Technical Trading Score*:
Date Of Inception:

2012

Primary Use:

CURRENCY

99.99 Billion

Coin Profile

XRP is the decentralized native currency employed by

Ripple.  Ripple  is  a  settlement  system,  currency

exchange  and  remittance  network  created  by  Ripple

Labs  Inc.  It  is  built  upon  a  distributed  open  source

internet

protocol,

and

supports

tokens

representing

fiat

currency

or    cryptocurrency.

The

company

purports

to

enable  “secure,

instantly

and

nearly

free

global

financial

transactions of any size with no chargebacks.”

Coins Outstanding:

Maximum Coins:
POW or POS:

CORRECTNESS

Website:

https://ripple.com/

XRP

C$0.61(US$0.46) 

June  24, 2:10 pm

All figures in USD$, unless otherwise specified 

Page 3 of 8

Shane Thomson, CFA  

shane@bitvo.com 

403.407.0046

~$0.0070

Current Mining Fee (USD):

LOG IN TO VIEW

100 Billion

■ XRP News:

Major money transmission network, MoneyGram, announced a

partnership with Ripple to use XRP for cross-border payments and

foreign exchange settlements. Specifically, by using XRP, the process

of sending money in one currency to be instantly settled in the

destination currency will be faster than with fiat or other digital assets.

According to MoneyGram’s chairman and CEO, Alex Holmes, the

ability to instantly settle funds in this manner could “dramatically

streamline our global liquidity management”.

New Jersey-based SendFreind launched its XRP powered payments

service last week, which allows Filipinos based in the United States to

reduce the cost and time associate with sending funds abroad.

■ Trading History YTD:

XRP has underperformed other major cryptocurrencies so far in 2019,

with its price trending down or flat from January through May.

While XRP participated in May’s almost universal cryptocurrency price

rally, it did not benefit to the same extent as other major

cryptocurrencies.

As a result of the above, the price of XRP has declined steadily in

terms of BTC since the beginning of 2019.

■ Current Environment:

While the price of XRP rose slightly in USD terms last week, it

continued its downward trend in BTC terms.

Volumes for the week were higher, averaging 4.29 billion coins per day

compared to the previous week’s volumes of 3.40 billion coins per day.

June 24, 2019

In the image above, a Bull represents relatively favourable technical analysis indicators and a Bear represents relatively unfavourable technical analysis indicators.

 

 

 

background image

Bitvo.com

Technical Trading Score*:
Date Of Inception:

2017

Primary Use:

CURRENCY

18mm

Coin Profile

Bitcoin  Cash  is  peer-to-peer  electronic  cash  for

the Internet.  It  is  fully  decentralized,  with  no  central

bank and  requires  no  trusted  third  parties  to  operate.

Bitcoin Cash  is  the  continuation  of  the  Bitcoin  project

as  peer-to-peer  digital  cash.  It  is  a  fork  of  the  Bitcoin

blockchain  ledger,  with  upgraded  consensus  rules

that  allow  it  to grow and scale.

Coins Outstanding:

Maximum Coins:

21 mm

POW or POS:

WORK

Website:

https://www.bitcoincash.org/

Bitcoin Cash (BCH)

C$620 (US$470) 

June 24, 2:10 pm

All figures in USD$, unless otherwise specified 

Page 4 of 8

Shane Thomson, CFA  

shane@bitvo.com 

403.407.0046

~$0.0051

Current Mining Fee (USD):

LOG IN TO VIEW

June 24, 2019

■ BCH News:

Bitcoin Cash’s previously announced development fund, which will be

donated in full to the development teams of Bitcoin ABC, Bitcoin

Unlimited, BCHD and Bcash, has reached 95% of its fundraising goal of

800 BCH as of last week. The fund was hoping to raise 800 BCH by

August 1, 2019.

Bitcoin Cash and Litecoin continue to jockey for the position of fourth

largest cryptocurrency in terms of market capitalization with Bitcoin Cash

surpassing Litecoin again last week with a market capitalization of US

$8.4 billion versus Litecoin’s US$8.3 billion.

■ Trading History YTD:

Somewhat similar to the trend in the price of BTC, the price of BCH

ground sideways for the first quarter of 2019 before experiencing a price

spike in early April.

The price of BCH has tended sideways since the beginning of April both

in USD and BTC terms.

■ Current Environment:

The price of BCH continued to mirror that of BTC, trending stable for the

first half of last week before resuming an upward trend in terms of USD.

In terms of BTC, the price of BCH continued to trend negatively last week

as BTC outperformed.

Volumes were higher week-over-week, averaging 4.3 million coins per

day compared to the previous week’s volumes of 4.1 million coins per

day.

In the image above, a Bull represents relatively favourable technical analysis indicators and a Bear represents relatively unfavourable technical analysis indicators.

 

 

 

background image

Bitvo.com

Technical Trading Score*:
Date Of Inception:

2011

Primary Use:

CURRENCY

62mm

Coin Profile

Litecoin

is

a

peer-to-peer

cryptocurrency

and open  source  software  project  released  under

the  MIT/X11  license.  Creation  and  transfer  of

coins  is  based  on  an  open  source  cryptographic

protocol and is not  managed  by  any  central  authority.

The  coin  was inspired  by,  and  in  technical  details  is

nearly  identical to, Bitcoin.

Coins Outstanding:

Maximum Coins:

84 mm

POW or POS:

WORK

Website:

https://litecoin.com/

Litecoin (LTC

C$176 (US$134) 

June 24, 2:10 pm

All figures in USD$, unless otherwise specified 

Page 5 of 8

Shane Thomson, CFA  

shane@bitvo.com 

403.407.0046

~$0.0562

Current Mining Fee (USD):

LOG IN TO VIEW

June 24, 2019

■ LTC News:

The Litecoin Foundation announced via a blog post on June 18th that it

has entered into a partnership that will allow it to release physical

cryptocurrency debit card.

Per the post, the debit card dubbed “BlockCard” will allow users spend

cryptocurrency funds both online and in physical store locations around

the world.

■ Trading History YTD:

Having started 2019 as a relative outperformer in comparison to other

major cryptocurrencies, LTC lost some momentum in April and May

before regaining ground in June.

The price of LTC in USD terms has traded positively for most of the year

in 2019.

■ Current Environment:

The price of LTC was more volatile than most major cryptocurrencies last

week, moving both up and down versus the stable to upward trend others

experienced.

Overall, the price of LTC ended the week approximately where it started in

USD terms and down in BTC terms.

Volumes last week averaged 30.2 million coins per day which was lower

than the previous week’s volume of 37.0  million coins per day.

In the image above, a Bull represents relatively favourable technical analysis indicators and a Bear represents relatively unfavourable technical analysis indicators.

 

 

 

background image

Bitvo.com

Technical Trading Score*:
Date Of Inception:

2014

Primary Use:

CURRENCY

9 mm

Coin Profile

Dash  is  an  open  source  peer  to  peer  cryptocurrency.

On top of Bitcoin’s feature set, it currently offers instant

transactions,  private  transactions  and  operates  a  self-

governing  and  self-funding  model  that  enables  the

Dash  network  to  pay  individuals  and  businesses  to

perform  work  that  adds  value  to  the  network.  Dash’s

decentralized  governance  and  budgeting  system

makes it a decentralized autonomous organization.

Coins Outstanding:

Maximum Coins:

22 mm

POW or POS:

STAKE

Website:

https://www.dash.org/

DASH (DASH)

C$231 (US$175) 

June 24, 2:10 pm

All figures in USD$, unless otherwise specified 

Page 6 of 8

Shane Thomson, CFA  

shane@bitvo.com 

403.407.0046

~$0.0212

Current Mining Fee (USD):

LOG IN TO VIEW

June 24, 2019

■ DASH News:

No significant Dash related news last week.

■ Trading History YTD:

After a generally negative start to the year, the price of Dash has

experienced more positive than negative price momentum from February

2019 onwards in terms of USD.

However, given the larger price appreciation seen in BTC, the price of

Dash has trended negatively since the end of March in BTC terms.

■ Current Environment:

The price of Dash was relatively stable last week, trending slightly up in

USD terms and slightly negatively in BTC terms.

Volumes for the week were lower compared to the previous week’s

average, averaging 2.0 million coins per day.

In the image above, a Bull represents relatively favourable technical analysis indicators and a Bear represents relatively unfavourable technical analysis indicators.

 

 

 

background image

Bitvo.com

Technical Trading Score*:
Date Of Inception:

2016

Primary Use:

110 mm

Coins Outstanding:

Maximum Coins:
POW or POS:

WORK

Website:

https://ethereumclassic.org/

Ethereum Classic (ETC)

C$12.20  (US$9.25) 

June 24, 2:10 pm

All figures in USD$, unless otherwise specified 

Page 7 of 8

Shane Thomson, CFA  

shane@bitvo.com 

403.407.0046

~$0.0024

Current Mining Fee (USD):

Coin Profile

Ethereum  Classic  is  an  open-source,  public,

blockchain-based  distributed  computing  platform

featuring  smart  contract  (scripting)  functionality.  It

provides  a  decentralized  Turing-complete  virtual

machine,  the  Ethereum  Virtual  Machine  (EVM),  which

can  execute  scripts  using  an  international  network  of

public  nodes.  ETC  has  a  value  token  called  “ether”,

which can be transferred between participants or stored

in a cryptocurrency wallet.

LOG IN TO VIEW

NO MAX

SMART CONTRACTS

June 24, 2019

■ ETH Classic News:

Ethereum Classic’s Atlantis hard fork has been officially set to occur mid-

September 2019 at block 8,772,000 on the blockchain, according to the

Ethereum Classic Improvement Protocol (ECIP) finalization call on June

20

th

.

■ Trading History YTD:

After trading sideways for most of the first quarter of 2019, the price of

ETC has benefited from broader momentum in the cryptocurrency space,

trading generally positively from April onwards in terms of USD.

However, ETC has generally underperformed other major

cryptocurrencies with its price trending negatively throughout most of the

recent rally in terms of BTC.

■ Current Environment:

The price of ETC rallied last week in USD terms while continuing to trend

negatively in terms of BTC.

Volumes were higher week-over-week, averaging 84.0 million coins per

day compared to the previous week’s volumes of 79.1 million coins per

day.

In the image above, a Bull represents relatively favourable technical analysis indicators and a Bear represents relatively unfavourable technical analysis indicators.

 

 

 

background image

Bitvo.com

DISCLAIMER

The information contained in this report has been compiled by Bitvo Global Inc. (“Bitvo”) from sources believed to be reliable, but no

representation or warranty, express or implied, is made by Bitvo, its affiliates or any other person as to its accuracy, completeness or

correctness. All opinions and estimates contained in this report constitute Bitvo’s judgement as of the date of this report, are subject to

change  without  notice  and  are  provided  in  good  faith  but  without  legal  responsibility.  Nothing  in  this  report  constitutes  legal,

accounting or tax advice or individually tailored investment advice. This material is prepared for general circulation to clients and has

been prepared without regard to the individual financial circumstances and objectives of persons who receive it. The Bull and Bear

symbols  represent  relatively  favourable  or  unfavourable  technical  indicators,  respectively,  and  the  presence  or  absence  of  these

symbols and any language pertaining to these symbols does not represent any advice, representation or guidance from Bitvo as to

whether you should buy, sell or hold any cryptocurrency. The cryptocurrencies or services contained in this report may not be suitable

for  you  and  it  is  recommended  that  you  consult  an  independent  advisor  if  you  are  in  doubt  about  the  suitability  of  such

cryptocurrencies or services. This report is not an offer to sell or a solicitation of an offer to buy any securities. Past performance is not

a guide to future performance, future returns are not guaranteed, and a loss of original capital may occur. The cryptocurrency market

is  volatile  and  rapidly  changing  and,  as  a  result,  the  latest  published  reports  available  to  clients  may  not  reflect  recent  material

changes. Bitvo reports are current only as of the date set forth on the reports. This report is not, and under no circumstances should

be construed as, a solicitation to act as securities broker or dealer in any jurisdiction by any person or company that is not legally

permitted to carry on the business of a securities broker or dealer in that jurisdiction. To the full extent permitted by law neither Bitvo

nor any of its affiliates, nor any other person, accepts any liability whatsoever for any direct or consequential loss arising from any use

of this report or the information contained herein. No matter contained in this document may be reproduced or copied by any means

without the prior consent of Bitvo.

Page 8 of 8

June 24, 2019

 

Ready to get started? Begin trading today.

create your bitvo account

Questions? We’re here 24/7.

Get in touch with our support team.

Thank you for signing up, we will be in touch soon!