Market Analysis Report

10 June 2024

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index has closed at 6,972.46 with a loss of 9.60% for the day.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $8,879 representing a loss of 4.65% in the last 24 hours. More than $1.4 B worth of BTC were exchanged in the BTC/USD market representing a 23.3% share of the global daily volume. The BTC/JPY pair represents a 53% share.

The Ethereum price is down 0.83% over the past 24 hours and is currently sitting at $632, with over $650 M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 40.5% market share of the daily trading volume.

See live charts here and here

Nasdaq Is Considering Becoming A Cryptocurrency Exchange

Yesterday, in an interview on CNBC, Adena Friedman, President and CEO of Nasdaq, revealed that the company "would consider becoming a crypto exchange over time." Although she stressed that a clear regulatory framework would need to be put in place first, she stated:

"I believe that digital currencies will continue to persist it's just a matter of how long it will take for that space to mature. Once you say, 'do we want to provide a regulated market for this?' Certainly, Nasdaq would consider it."

Read more here

Binance Founder Sued by VC Fund Sequoia Capital

Sequoia Capital, a venture capital firm headquartered in California is suing the founder of the cryptocurrency exchange Binance, Changpeng Zhao. The American VC fund reportedly accuses the founder of allegedly negotiating future investments with another firm while he signed an exclusivity agreement with Sequoia. Binance stated:

"Mr. Zhao denies all of Sequoia's allegations relating to the present dispute. As the substantive issues in dispute between the parties are subject to confidential arbitration proceedings, Mr. Zhao will make no further comment on the matter."

Read more here

OKEx Suspends ERC20 Deposits: Ethereum Smart Contract Bug

Cryptocurrency exchange OKEx has suspended deposits of all ERC20 tokens after they allegedly discovered a serious bug in at least 12 smart contracts built to this token standard. In a statement published yesterday, the Hong Kong-based exchange announced the suspension of deposits, explaining that attackers have exploited a newly-discovered smart contract bug called “batchOverflow” to generate “an extremely large amount of tokens” out of thin air and then deposit them into a normal Ethereum address.

“We are suspending the deposits of all ERC-20 tokens due to the discovery of a new smart contract bug – ‘BatchOverFlow’. By exploiting the bug, attackers can generate an extremely large amount of tokens, and deposit them into a normal address. This makes many of the ERC-20 tokens vulnerable to price manipulations of the attackers.”

Read more here

Blockchain Terminal — Enabling Institutional Crypto Investing

Cryptocurrency and blockchain applications have been inching closer toward mainstream awareness every day. Despite massive growth, many say this will be utterly dwarfed when institutional investors arrive to participate in the crypto-economy. One such indicator of this is Coinbase’s estimation that $10 billion in institutional money is currently waiting on the sidelines.

Blockchain Terminal (BCT) is a new tool for the hedge fund industry and institutional investors to confidently buy, trade and invest in cryptocurrency. By combining market data from over 60 exchanges, information about upcoming ICO’s, and news from publications and social media, the Blockchain Terminal gives you a complete picture of crypto-trading.

The Terminal offers a consolidated order book, showing the price and state of the and a consolidated wallet that allows a single account to trade thousands of available cryptocurrencies on 60+ exchanges. Additionally, ComplianceGuard Technology creates a strict compliance framework, placing investors in a secured and monitored environment.

By enabling real-time compliance enforcement, BCT will facilitate the relationships between financial asset managers, auditors and regulators, and will give hedge funds and other institutional investors the tools they need to enter the world of cryptocurrencies.

Token sale on now!

The BCT token sale is available now until 30 April 2018. Join now at: tokensale.bct.io and visit the website: bct.io for more information.

Press Release

State of the Crypto

Bitcoin is down 4.65% at $8,879.100 with a volume of Ƀ156.6k - $1410.5M on the USD pairs.

Ether is up 3.66% against Bitcoin at Ƀ0.07142 per Ether and down 0.83% against the dollar to $632.99 with average volume Ƀ42.8k on the ETH/BTC pair.

Bitcoin Cash is up 8.08% to Ƀ0.1512 with volumes of Ƀ32.0k and up 3.21% against the dollar at $1340.09.

Zcash is up 3.73% for the day to Ƀ0.03196 per ZEC and down 0.65% against the dollar to $284.67 with an average volume of Ƀ3.1k for the 24 hour period.

Litecoin is down 3.99% against the dollar for the day at $146.12 and up 0.55% to Ƀ0.01647 on volumes of Ƀ11.1k.

Dash is up 1.07% at Ƀ0.05308 with Ƀ5.1k volume and down 3.62% against the dollar at $471.7.

Iota is down 0.29% to Ƀ0.0002066 on Ƀ3.8k volume.

Ether Classic is up 1.51% to Ƀ0.002145 with volumes of Ƀ6.6k and down 2.96% against the dollar at $19.04.

Monero is down 1.53% against the dollar at $260.82 and up 3.31% against Bitcoin at Ƀ0.02934 on volumes of Ƀ6.9k.

Neo is up 1.87% for the day to Ƀ0.008155 per NEO and down 2.99% against the dollar to $72.32 with an average volume of Ƀ5.0k for the 24 hour period.

Waves is down 0.05% to Ƀ0.0005903 on Ƀ2.7k volume.

Stratis is up 0.23% to Ƀ0.0006573 on Ƀ882.756 volume.

Cardano is up 3.23% to Ƀ0.00003099 on Ƀ5.4k volume.
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