Market Analysis Report

10 June 2024

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index has closed at 4,693.18 with a gain of 2.74% for the day.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $6,864 representing a loss of 0.15% in the last 24 hours. More than $500 M worth of BTC were exchanged in the BTC/USD market representing a 20.75% share of the global daily volume. The BTC/JPY pair represents a 55.3% share.

The Ethereum price has risen 1.41% over the past 24 hours and is currently sitting at $422, with over $200 M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 31.2% market share of the daily trading volume.

See live charts here and here

Rockefellers Enter Cryptocurrency Space Looking To Invest In Blockchain Startups

Last Friday, Venrock forged a partnership with cryptocurrency investor group CoinFund, according to a company official blog post. Venrock represents the venture capital arm of the more famous Rockefeller Foundation. Named after the renowned John D. Rockefeller, Venrock is seemingly following Soros' footsteps by entering the cryptocurrency space. The company is set to provide the Rockefellers with a ready-made list of unique cryptocurrencies the fund already has stakes in. On a tweet Coinfund stated:

"We are excited to partner with @pakman and @Venrock for our work in and !"

Read more here

Telegram Might Just Cancel Its Public ICO

Recent Security Exchange Commision (SEC) filings confirm Telegram has already raised $1.7 billion from two private sales. With this said, sources with knowledge of the deal believe the company might cancel its public ICO. Besides that, Telegram has been selling what basically amounts to IOUs for future grams under the Simple Agreement for Future Tokens (SAFT) framework. That means as displayed by the company's SEC filings, the company is selling a security, which cannot be sold to non-accredited investors. However, the company didn't make any official announcement regarding its public ICO. Anthony Pomplian, a general partner at Morgan Creek Capital Blockchain said:

"The goal of fundraising is to gain access to capital to allow a team to build a product and company. It appears Telegram has already achieved their goal so there would be no reason to conduct a public sale."

Read more here

Samsung is Developing ASIC Chips for Halong Mining

Last year, Samsung began producing Application Specific Integrated Circuit (ASIC) chips built for Bitcoin mining chips. According to a mining rig retailer MyRig, Samsung is now producing ASIC chips for upstart mining hardware manufacturer Halong Mining. On Tuesday, MyRig tweeted a picture of a wafer, a thin slice of semiconductor material used in the fabrication of integrated circuits. The company claimed that it was a 10 nm wafer produced by electronics giant Samsung. MyRig tweeted:

"Now Dragon Flying (Shipping), this is what powers @halongmining DragonMint T1. Yes Samsung and Yes 10nm. i'm sure someone had seen some news in the past about it from big foundry about bitcoin and cryptos."

Read more here

Winning Poker Network Accepts 60 Different Cryptocurrencies!

The Winning Poker Network, with its flagship brand Americas Cardroom, has been an innovation leader in the online poker space since debuting in 2001.

Now, the US-facing network which is 9th largest in the world is the clear industry leader in cryptocurrency acceptance as well. WPN started accepting Bitcoin for deposits and withdrawals back in 2015, making both faster and cheaper in comparison to traditional payment processing methods. So much so, that in late 2017, the company began accepting over 60 different types of cryptocurrencies.

In just minutes, you can sign up for an account at any WPN site, get it verified, and then make the cryptocurrency deposit of your choice in the cashier. You’ll then have access to the full suite of poker tournaments and cash games, in addition to sports betting and casino games.

Make sure you take advantage of the lucrative Welcome Package that includes a 100% First Deposit Bonus up to $1,000, up to $50 free cash, and access to New Depositor Freerolls.

Click here to visit their cryptocurrency section. It includes an educational page on each coin they accept.

Press Release

State of the Crypto

Bitcoin is down 0.15% at $6,864.120 with a volume of Ƀ76.1k - $529.0M on the USD pairs.

Ether is up 1.38% against Bitcoin at Ƀ0.0617 per Ether and up 1.41% against the dollar to $422.73 with average volume Ƀ32.9k on the ETH/BTC pair.

Bitcoin Cash is up 1.23% to Ƀ0.09634 with volumes of Ƀ11.9k and up 1.17% against the dollar at $661.49.

Ripple is up 5.27% to Ƀ0.00007517 with volumes of Ƀ13.2k and up 5.3% against the dollar at $0.5143.

Zcash is up 1.78% for the day to Ƀ0.02685 per ZEC and up 1.4% against the dollar to $185.52 with an average volume of Ƀ2.5k for the 24 hour period.

Litecoin is up 0.02% against the dollar for the day at $114.24 and up 0.18% to Ƀ0.01669 on volumes of Ƀ8.3k.

Dash is up 2.05% at Ƀ0.04486 with Ƀ4.5k volume and up 1.66% against the dollar at $308.61.

Iota is up 1.93% to Ƀ0.0001529 on Ƀ1.8k volume.

Ether Classic is up 0.34% to Ƀ0.002041 with volumes of Ƀ4.3k and up 0.22% against the dollar at $13.96.

Monero is up 0.54% against the dollar at $167.75 and up 0.91% against Bitcoin at Ƀ0.02443 on volumes of Ƀ3.5k.

Neo is up 4.52% for the day to Ƀ0.008273 per NEO and up 4.73% against the dollar to $56.7 with an average volume of Ƀ8.5k for the 24 hour period.

Waves is up 1.5% to Ƀ0.0005402 on Ƀ2.3k volume.

Stratis is up 0.97% to Ƀ0.0005643 on Ƀ1.2k volume.

Cardano is up 13.94% to Ƀ0.00002566 on Ƀ12.8k volume.

NEM is up 1.86% to Ƀ0.00003506 on Ƀ672.509 volume.

EOS is up 33.85% to Ƀ0.001233 on Ƀ39.2k volume.

Tron is down 2.81% to Ƀ0.00000519 on Ƀ18.7k volume.

Stellar is up 5.74% to Ƀ0.00003077 on Ƀ4.6k volume.
Trending forum posts
We are based in London UK and our team is working round the clock to keep this service up and running. If you wish to contact us just drop us an email to info@cryptocompare.com, reply to this email or chat with one of our team on the discussion board.