Market Analysis Report

10 June 2024

Chinese Bitcoin Exchange BTCC Stops Withdrawals for a Month

Major Chinese exchange BTCChina has announced the suspension of bitcoin and litecoin withdrawals, thus joining Huobi and OKcoin. The suspension will last until March 15th as the exchange upgrades its customer verification system in adherence to the antimoney laundering norms enforced by the People’s Bank of China (PBoC), following the central bank’s crackdown on domestic bitcoin exchanges. BTCChina stated

"BTCChina will continue upgrading its inspection and verification system for bitcoin and litecoin withdrawals to aggressively guard against money laundering, illegal money exchange, pyramid schemes, and other illegal activity. As a result, bitcoin and litecoin withdrawals will be suspended from February 15th until March 15th."

Read more here

Commonwealth Bank Plans More Blockchain Investments in 2017

One of Australia’s ‘Big Four’ banks has committed to further blockchain investments. The Commonwealth Bank, which has been working with DLT since mid 2015, is looking to spend close to $1b on R&D during 2017. However, no hard numbers have been announced regarding how much the bank will pledge to blockchain research and development over the coming year.

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BitSee: Check Crypto Prices on Your Watch

BitSee is a Pebble watch app built for cryptocurrency enthusiasts. It displays an automatically updating list of the top five most valuable cryptocurrencies. Powered by the CryptoCompare API, BitSee allows users to stay up-to-date on cryptocurrency prices from their wrist. It is currently available on the Pebble App Store for all watch versions, except for the Pebble Round.

Get the app here

Germany’s Largest Financial News Platform Lists Bitcoin as Major Currency

Finanzen.net, Germany’s most popular and largest financial news network and platform, is listing bitcoin amongst other major national currencies such as US Dollar, Japanese Yen and Chinese Yuan on the company’s “most important exchange rates” section. Listing of bitcoin on the exchange rates section implies that Finanzen.net, a key player within the German financial and media industries, considers bitcoin as one of the most important currencies in the world.

Read more here

State of the Crypto

Bitcoin is up 1.69% at $1,039.36 with a volume of Ƀ 38k - 39M on the USD pairs.

Litecoin is up 0.79% against the dollar for the day at $3.84 and down 1.61% to Ƀ 0.003724 on volumes of 459 BTC.

Ether is down 0.97% against Bitcoin at Ƀ 0.01230 per Ether and up 0.94% against the dollar on $12.85 with average volume 6.1k BTC on the ETH/BTC pair. 

Zcash is down 6.61% for the day to 0.03093 BTC per ZEC and down 5.11% against the dollar to $32.11 with average volume of 385 BTC for the 24 hour period.

Monero is up 0.38% against the dollar at $13.21 and down 1.55% against Bitcoin at Ƀ 0.01271 on volumes of 1.9k BTC. 

Ether Classic is down 1.88% to Ƀ 0.001199 with volumes of 381 BTC and flat against the dollar at $1.25.

Dash is down 3.16% at Ƀ 0.01932 with 1.8k BTC volume and down 1.49% against the dollar at $19.21.

Waves is flat at Ƀ 0.0002413 on 37 BTC volume. 

Stratis is down 0.73% to Ƀ 0.00008322 on 55 BTC volume.

Lisk has 70 BTC volume for the day. The price is down 1.72% at 0.0001373.

PASC is down 4.45% at Ƀ 0.0003181 with an average volume of 173 BTC
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