Latest Cryptocurrency News & Press Releases

 

 

 

background image

Bitvo.com

Bitcoin (BTC)

C$15,618 (US$11,921) 

July 08, 1:30 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:

21mm

POW or POS:

WORK

Current Mining Fee (USD):

~$1.64

Website:

https://bitcoin.org

July 08, 2019

All figures in USD$, unless otherwise specified 

LOG IN TO VIEW

■ General Cryptocurrency News:

In an interview with the Financial Times, Agustin Carstens, the chief of the

Bank for International Settlements (BIS), noted that central banks will soon

likely need to issue digital currencies of their own. Carstens said that the

BIS is currently supporting global central banks in researching and

developing cryptocurrencies based on existing national fiat currencies.

The world continues to debate the merits and potential issues associated

with Facebook’s proposed stable coin, Libra. Last week lawmakers from

the United States House of Representatives Committee on Financial

Services issued a letter to Facebook executives urging them to stop

development to allow it to explore legislative solutions and hold public

hearings on the risks and benefits of Libra.

The President of Venezuela has instructed Banco de Venezuela to start

accepting Venezuela’s oil-backed cryptocurrency, the Petro.

■ BTC News:

The Bitcoin hash rate reached a new all-time high over the weekend,

according to data from monitoring resource Blockchain.com. The previous

record was broken in the second half of June, when Bitcoin’s hash rate

reached 65.19 TH/s and growth has steadily continued since then.

The University of Cambridge launched a real-time index that tracks the

total electricity consumption of the Bitcoin network. The Cambridge Bitcoin

Electricity Consumption Index, or CBECI, gives an estimate of the total

annualized energy consumption of the Bitcoin network, updated every

thirty seconds.

Using this data provided by the CBECI, commentators quickly deduced

that the electricity wasted each year by always-on but inactive home

devices in the United States alone could apparently power the Bitcoin

network for four years.

■ 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 and climbed steadily throughout May

and June before correcting at the end of June.

Current Environment:

The price of BTC continued to try to find direction last week. Accounting for

moves both up and down, the price of BTC ended the week higher, again

approaching US$12,000 over the weekend.

Volumes for the week averaged 2.3 million coins per day, which is lower

than the previous week’s volumes of 2.8 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:

107mm

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$402 (US$307) 

July 08, 1:30 pm

All figures in USD$, unless otherwise specified 

Page 2 of 8

Shane Thomson, CFA  

shane@bitvo.com 

403.407.0046

~$0.24

Current Mining Fee (USD):

LOG IN TO VIEW

July 08, 2019

■ ETH News:

Binance moved its Tether coin (USDT) from an Omni address to an

ERC-20 address.

Poloniex recently started allowing ERC-20 USDT deposits. The reasoning

was that ERC-20 is a faster and less expensive way to transfer USDT.

■ Trading History YTD:

The price of ETH has experienced positive momentum for most of 2019,

commencing the year relatively stable before accelerating from May

onwards.

However, with the positive performance of BTC in 2019, ETH has

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

trending down since the end of February.

■ Current Environment:

Similar to BTC, the price of ETH bounced around last week but ended the

week higher in terms of USD.

In terms of BTC, the price of ETH was relatively stable, ending the week

slightly lower.

Volumes for the week averaged 31.0 million coins per day, which is lower

than the previous week’s volumes of 38.4 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$0.52 (US$0.40) 

July 08, 1:30 pm

All figures in USD$, unless otherwise specified 

Page 3 of 8

Shane Thomson, CFA  

shane@bitvo.com 

403.407.0046

~$0.0006

Current Mining Fee (USD):

LOG IN TO VIEW

100 Billion

■ XRP News:

No significant XRP related news last week.

■ 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 and June’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:

After movements both up and down throughout the week, the price of

XRP exited the week at approximately the same level as it began in

terms of USD.

In terms of BTC, XRP continued to underperform, trending steadily

downward throughout the week.

Volumes for the week were lower, averaging 3.72 billion coins per day

compared to the previous week’s volumes of 5.20 billion coins per day.

July 08, 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:

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$158 (US$120)

July 08, 1:30 pm

All figures in USD$, unless otherwise specified 

Page 5 of 8

Shane Thomson, CFA  

shane@bitvo.com 

403.407.0046

~$0.0731

Current Mining Fee (USD):

LOG IN TO VIEW

July 08, 2019

■ LTC News:

Payments system Flexa has added Litecoin as one of the

cryptocurrencies it will process. This adds approximately 40,000 new

merchants who will now accept Litecoin.

Litecoin is fast approaching halving, which is now less than one month

away.

■ Trading History YTD:

Having started 2019 as a relative outperformer in comparison to other

major cryptocurrencies, LTC lost some momentum in April onwards, but

for a brief recovery in June.

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

year in 2019.

However, as a result of the above noted recent underperformance, the

price of LTC in terms of BTC is now approximately flat on the year.

■ Current Environment:

The price of LTC in terms of USD was relatively stable last week, ending

the week approximately where it began.

In terms of BTC, the price of LTC continued to experience downward

pressure throughout the week last week.

Volumes last week averaged 35.4 million coins per day which was lower

than the previous week’s volume of 39.9 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:

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$541 (US$413) 

July 08, 1:30 pm

All figures in USD$, unless otherwise specified 

Page 4 of 8

Shane Thomson, CFA  

shane@bitvo.com 

403.407.0046

~$0.005

Current Mining Fee (USD):

LOG IN TO VIEW

July 08, 2019

■ BCH News:

No significant Bitcoin Cash related news last week.

■ 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 to slightly positive since the

beginning of April in USD terms and sideways to slightly negative in

BTC terms over the same period.

■ Current Environment:

The price of BCH was quite volatile last week, ending the week close

to flat in USD terms after spikes both up and down.

In terms of BTC, the price of BCH continued to grind lower throughout

the week last week.

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

day compared to the previous week’s volumes of 5.6 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

■ DASH News:

Dash 24-hour transactions and active addresses surpassed Litecoin’s

last week, with 24-hour transactions in excess of 30,000 versus Litecoin’s

approximate 27,000.

■ 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 also volatile last week, ending the week higher

after movements both up and down throughout the week in terms of

USD.

In terms of BTC, the price of Dash underperformed, trending steadily

lower throughout the week.

Volumes were lower week-over-week, averaging 2.3 million coins per day

compared to the previous week’s volumes of 2.8 million coins per day.

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$207 (US$158) 

July 08, 1:30 pm

All figures in USD$, unless otherwise specified 

Page 6 of 8

Shane Thomson, CFA  

shane@bitvo.com 

403.407.0046

~$0.0142

Current Mining Fee (USD):

LOG IN TO VIEW

July 08, 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:

2016

Primary Use:

112 mm

Coins Outstanding:

Maximum Coins:
POW or POS:

WORK

Website:

https://ethereumclassic.org/

Ethereum Classic (ETC)

C$10.41  (US$7.95) 

July 08, 1:30 pm

All figures in USD$, unless otherwise specified 

Page 7 of 8

Shane Thomson, CFA  

shane@bitvo.com 

403.407.0046

~$0.0023

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

July 08, 2019

■ ETH Classic News:

No significant Ethereum Classic related news last week.

■ 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:

An outlier amongst other major cryptocurrencies, the price of ETC

trended higher for most of the week last week in USD terms.

However, BTC continued to outperform and the price of ETC ended the

week down in terms of BTC.

Volumes were lower week-over-week, averaging 100.1 million coins per

day compared to the previous week’s volumes of 121.3 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

July 08, 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!