Market Analysis Report

10 June 2024

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index has closed at 5,158.76 with a gain of 9.92% for the day.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $7,943 representing a gain of 16.16% in the last 24 hours. More than $1.5 B worth of BTC were exchanged in the BTC/USD market representing a 27.1% share of the global daily volume. The BTC/JPY pair represents a 48.1% share.

The Ethereum price has risen 18.08% over the past 24 hours and is currently sitting at $498.57, with over $400 M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 36.6% market share of the daily trading volume.

See live charts here and here

Santander & Ripple Launch Blockchain International Payment Service

Spanish bank Santander recently launched a blockchain-based international payment service, named "Santander One Pay FX", that uses Ripple's xCurrent technology to allow retail customers to make same-day cross-border payments. Ana Botín, Banco Santander's Executive Chairman, said:

"One Pay FX uses blockchain-based technology to provide a fast, simple and secure way to transfer money internationally - offering value, transparency, and the trust and service customers expect from a bank like Santander. “From today, customers in the UK can use One Pay to transfer money across Europe and to the US. In Spain, customers can transfer to UK and US, while customers in Brazil and Poland can transfer to the UK.”

Read more here

OKEx to Become Second Cryptocurrency Exchange to Move to Malta

Yesterday, cryptocurrency exchange OKEx announced that it will be expanding its operations to Malta. Currently, OKEx is one of several exchanges that are based out of Hong Kong, which is known for its business-friendly climate but has lately begun to apply tighter measures against cryptocurrency exchanges and Initial Coin Offerings (ICOs). Chris Lee, the exchange CEO, explained:

“We look forward to working with the Malta government as it is  forward thinking and shares many of our same values: the most important of which are protection of traders and the general public, compliance with Anti Money Laundering and Know Your Customer standards, and recognition of the innovation and importance of continued development in the Blockchain ecosystem.”

Read more here

Lawsuit Alleges JPMorgan Chase Overcharged Crypto Buyers

Earlier this week, a proposed class action lawsuit has been filed against JPMorgan Chase, alleging that the bank overcharged its credit card customers when they used funds to purchase cryptocurrencies. According to the complaint, prior to pulling the plug on all purchases, the bank began treating such expenditures as "cash advances" in January, but did so "unbeknownst to Chase's cardholders." Attorneys for the plaintiff alleged that Chase Bank violated the Truth in Lending Act by not disclosing the policy shift.

Read more here

Bulleon - The King of Cryptocurrency Brings in More Skilled Team Members

Bulleon is pleased to announce its growing team, which includes renowned veterans in Blockchain and Fintech technologies.

A part of their team is seasoned Blockchain expert Nathan Christian who serves as their ICO advisor. Also, part of the team is Simon Cocking, one of the world’s leading influencers in the rapidly evolving industry of technology. He has done advisory work and business mentoring for several other successful ICO launches.

The Team continues to grow each day, alongside its impact on the global Blockchain platform. The strategy behind getting a skilled team is to make Bulleon renowned; they are a simple and unique option on the crypto-market.

Their mission is to create a practical digital asset service concept, that is safe, user-friendly, clear and simply attractive. The Bulleon ICO advisors have been involved in other ICOs (such as TraDove, IUNGO, Friendz) that have raised over $10m-50m+.

The Bulleon product aims to provide end users with all their everyday digital asset-related services all in a single place, a service that will profoundly facilitate online transactions. enabling the customer to only focus on his own business, and not on technical difficulties.

Learn more about the ICO: https://bulleon.io/#ico

Press Release

State of the Crypto

Bitcoin is up 16.16% at $7,943.100 with a volume of Ƀ202.3k - $1558.9M on the USD pairs.

Ether is up 1.71% against Bitcoin at Ƀ0.0629 per Ether and up 18.08% against the dollar to $498.57 with average volume Ƀ43.1k on the ETH/BTC pair.

Bitcoin Cash is down 2.18% to Ƀ0.09446 with volumes of Ƀ13.6k and up 13.25% against the dollar at $748.35.

Ripple is up 8.64% to Ƀ0.00008135 with volumes of Ƀ23.2k and up 25.88% against the dollar at $0.6445.

Zcash is up 1.67% for the day to Ƀ0.02733 per ZEC and up 18.2% against the dollar to $218.67 with an average volume of Ƀ3.0k for the 24 hour period.

Litecoin is up 11.75% against the dollar for the day at $127.8 and down 3.64% to Ƀ0.01613 on volumes of Ƀ13.8k.

Dash is down 0.16% at Ƀ0.04485 with Ƀ4.5k volume and up 16.01% against the dollar at $357.45.

Iota is up 14.72% to Ƀ0.0001754 on Ƀ3.9k volume.

Ether Classic is down 0.49% to Ƀ0.002032 with volumes of Ƀ5.3k and up 15.25% against the dollar at $16.1.

Monero is up 14.6% against the dollar at $191.89 and down 1.67% against Bitcoin at Ƀ0.02409 on volumes of Ƀ4.4k.

Neo is up 1.1% for the day to Ƀ0.008308 per NEO and up 17.73% against the dollar to $66.06 with an average volume of Ƀ7.5k for the 24 hour period.

Waves is up 1% to Ƀ0.0005474 on Ƀ2.6k volume.

Stratis is up 3.84% to Ƀ0.0005867 on Ƀ1.1k volume.

Cardano is up 7.75% to Ƀ0.00002726 on Ƀ13.4k volume.

NEM is up 0.43% to Ƀ0.00003543 on Ƀ994.594 volume.

EOS is down 5.78% to Ƀ0.001157 on Ƀ22.1k volume.

Tron is down 4.03% to Ƀ0.000005 on Ƀ22.6k volume.

Stellar is down 0.65% to Ƀ0.00003055 on Ƀ4.6k volume.
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