Market Analysis Report

10 June 2024

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index has closed at 7,893.34 with a gain of 1.89% for the day.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $9,380 representing a gain of 3.7% in the last 24 hours. More than $450 M worth of BTC were exchanged in the BTC/USD market representing a 23.9% share of the global daily volume. The BTC/JPY pair represents a 38.7% share.

The Ethereum price has risen 6.58% over the past 24 hours and is currently sitting at $763, with over $250 M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 24.6% market share of the daily trading volume.

For a detailed market analysis click here

Coinone Partners With Ripple to Use xCurrent Product

Yesterday, South Korea's cryptocurrency exchange Coinone joined Ripple's global payment network RippleNet to use their xCurrent product, for the new global remittance service called "Cross". The new "Cross" service, which will be offered by one of Coinone's subsidiaries, Coinone Transfer, will be launched in June and will use Ripple's xCurrent to provide a faster, more reliable, and lower cost way for South Korean residents to send payments to friends/family across the region. The CEO of Coinone Transfer, Wonshee Shin, said:

"We are proud to be the first digital exchange in Korea to join RippleNet and implement Ripple’s xCurrent solution... Ripple’s xCurrent solution will revolutionize the lives of our customers by providing them with a real-time, low-cost global remittance service."

Read more here

BTC Wallet Electrum Exposes Malicious Copycat

Recently, a new wallet that goes by a similar name "Electrum Pro" popped up with the domain name, electrum.com, clearly attempting to divert users from the official website at electrum.org. The team behind Electrum claimed that the Electrum Pro is a malware meant to steal Bitcoins. Yesterday, on a Github official post, Electrum's team has given a detailed explanation, which anyone can follow to find the rogue lines of code on Electrum Pro, which steals recovery seeds and sends them to the attackers.

Read more here

Facebook Working Out How it Can Leverage Blockchain

Last Tuesday, the head of Facebook's Messenger app, David Marcus, has announced that the company is exploring potential uses for blockchain technology. On a Facebook post, Marcus stated:

“After nearly four unbelieveably rewarding years leading Messenger, I have decided it was time for me to take on a new challenge. I’m setting up a small group to explore how to best leverage blockchain across Facebook, starting from scratch.”

Read more here

State of the Crypto

Bitcoin is up 3.7% at $9,380.080 with a volume of Ƀ54.8k - $510.2M on the USD pairs.

Ether is up 2.6% against Bitcoin at Ƀ0.08156 per Ether and up 6.58% against the dollar to $763.81 with average volume Ƀ41.8k on the ETH/BTC pair.

Bitcoin Cash is up 6.82% to Ƀ0.1771 with volumes of Ƀ30.2k and up 10.8% against the dollar at $1658.64.

Ripple is up 1.06% to Ƀ0.00008541 with volumes of Ƀ10.5k and up 4.98% against the dollar at $0.8026.

Zcash is up 0.65% for the day to Ƀ0.02958 per ZEC and up 4.02% against the dollar to $276.96 with an average volume of Ƀ1.7k for the 24 hour period.

Litecoin is up 4.41% against the dollar for the day at $159.66 and up 0.47% to Ƀ0.01703 on volumes of Ƀ14.9k.

Dash is up 3.76% at Ƀ0.04859 with Ƀ4.0k volume and up 7.52% against the dollar at $454.76.

Iota is down 2.64% to Ƀ0.0002431 on Ƀ2.9k volume.

Ether Classic is up 0.35% to Ƀ0.002293 with volumes of Ƀ9.2k and up 4.17% against the dollar at $21.48.

Monero is up 5.13% against the dollar at $229.25 and up 1.36% against Bitcoin at Ƀ0.02451 on volumes of Ƀ2.2k.

Neo is up 0.17% for the day to Ƀ0.008126 per NEO and up 4.04% against the dollar to $76 with an average volume of Ƀ3.8k for the 24 hour period.

Waves is up 5.48% to Ƀ0.0007108 on Ƀ2.9k volume.

Stratis is down 3.3% to Ƀ0.0007535 on Ƀ1.2k volume.

Cardano is down 0.56% to Ƀ0.00003353 on Ƀ4.0k volume.

NEM is up 0.2% to Ƀ0.00004037 on Ƀ685.772 volume.

EOS is up 0.94% to Ƀ0.001934 on Ƀ19.8k volume.

Tron is down 1.94% to Ƀ0.00000859 on Ƀ13.2k volume.

Stellar is down 0.69% to Ƀ0.00004002 on Ƀ1.9k volume.
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