Market Analysis Report

10 June 2024

Quick Recovery! Bitcoin Is Back Above $4000 Again

Bitcoin dropped below $4,000 yesterday, quickly reaching $3660 at around 5:00 AM UTC. Whatever caused the crash, it didn’t last long, as Bitcoin started to recover immediately after reaching its 12-day low and is now sitting at $4110.  The quick recovery may be linked to the upcoming SegWit activation that will take place tomorrow.

Having risen 12.50% today, Bitcoin's trading volume is also higher than usual with $555.19 M exchanged in the USD/BTC markets in the last 24h. As usual, Japan is leading the markets in trading volume with a 45% market share.

Read more here and see live charts here

Asus Debuts Specialized Motherboard for Cryptocurrency Miners

Asus, the popular hardware manufacturer, has revealed a new motherboard with features geared specifically toward cryptocurrency miners. Dubbed the B250 Mining Expert, the board was debuted over the weekend by Asus' Republic of Gamers. While the product's release date and price aren't known yet, the upcoming B250 Mining Expert motherboard itself boasts a total of 19 PCI-Express expansion slots, compared to the 12, eight or six slots featured on competitors' products.

Read more here

Mark Cuban Backs Cryptocurrency Fund

Billionaire investor and Bitcoin doubter Mark Cuban is coming around on cryptocurrency. Despite saying Bitcoin was a bubble in early June, Cuban has backed venture capital firm 1confirmation. The firm not only has plans to invest some $20 million in companies developing blockchain technologies, but it also wants to invest in early stage companies before they head into an initial coin offering (ICO).

Read more here

Bitcoin Cash Hashrate Nears Parity with Bitcoin

The Bitcoin Cash mining profitability has recently ticked upward, reaching parity with BTC. Soon after, a decrease in difficulty, coupled with a Korean-led price surge, made bitcoin cash mining 240% more profitable than bitcoin. This caused hashpower to pour into the BCH network. Two days, major mining pools such as AntPool begun mining bitcoin cash, enabling its network to claim more than one-third of the total hashpower.

Yesterday, the bitcoin cash hashrate share increased to 43% and is just 7% away from reaching parity with bitcoin. However, the upcoming difficulty adjustment will make it much harder to find BCH blocks, a prospect that could make the BCH chain go through technical difficulties.

Read more here and see BCH hashrate here

Recently added:

UTK added to the upcoming ICO List

ATL added to the upcoming ICO List

LAT added to the ongoing ICO List

State of the Crypto

Bitcoin is up 8.41% at $4,121.680 with a volume of Ƀ 115.84k - $465.09M on the USD pairs.

Litecoin is up 3.5% against the dollar for the day at $47 and down 4.27% to Ƀ0.01142 on volumes of Ƀ7.4k.

Ether is down 1.24% against Bitcoin at Ƀ0.07803 per Ether and up 6.76% against the dollar to $321.56 with average volume Ƀ40.5k on the ETH/BTC pair.

Dash is down 0.35% at Ƀ0.072 with Ƀ5.1k volume and up 8.82% against the dollar at $294.69.

Zcash is down 2.34% for the day to Ƀ0.056 per ZEC and up 5.25% against the dollar to $230.73 with an average volume of Ƀ2.8k for the 24 hour period.

Ripple is up 49.4% to Ƀ0.00007126 with volumes of Ƀ74.4k and up 62.04% against the dollar at $0.293.

Monero is up 21.2% against the dollar at $97.12 and up 10.59% against Bitcoin at Ƀ0.023 on volumes of Ƀ23.7k.

Ether Classic is down 2.06% to Ƀ0.003517 with volumes of Ƀ2.6k and up 6.17% against the dollar at $14.46.

Stratis is down 1.35% to Ƀ 0.001320 on Ƀ 3,396.05 volume.

Waves is down 5.6% to Ƀ 0.001063 on Ƀ 3,037.83 volume.
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