Market Analysis Report

10 June 2024

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index has closed at 7,714.53 with a gain of 0.65% for the day.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $9,319 representing a loss of 1.65% in the last 24 hours. More than $550 M worth of BTC were exchanged in the BTC/USD market representing a 23.4% share of the global daily volume. The BTC/JPY pair represents a 38.5% share.

The Ethereum price has dropped 1.5% over the past 24 hours and is currently sitting at $683, with over $200 M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 25.05% market share of the daily trading volume.

For a detailed market analysis click here.

Binance Inks $15 Million Investment Pact with Bermuda

Cryptocurrency exchange Binance has surpassed Germany’s largest bank in terms of profitability in the first quarter. Binance generated profits of $200 million in the January-March period, vastly outperforming Deutsche Bank, which recorded net gains of $146 million.

In the sequence of the aforementioned news, reports have confirmed that Binance founder and CEO Changpeng Zhao met with Bermuda Financial Minister David Burt to sign a memorandum of understanding (MOU). The MOU will see the Binance Foundation provide up to $10 million of university blockchain technology development and compliance training, in Bermuda. The MOU also states that Binance Labs will invest up to $5 million in new Bermuda-based blockchain companies. On a Twitter post, Binance CEO stated:

"Honoured sir! Amazed at how advanced Bermuda is in welcoming the blockchain industry! Strong leaders makes all the difference in the world."

Read more here

5 Payment Firms Adopt Ripple’s xVia API Solution

According to a Ripple announcement on their website, the company has five new customers for its xVia API solution, enhancing these companies’ access to the rapidly expanding global payments market. The companies include FairFX (U.K.), RationalFX (U.K.), Exchange 4Free (U.K.), UniPay (Georgia) and MoneyMatch (Malaysia). Ripple's team stated:

"By providing a standard API solution, xVia lets companies that want to send payments — payment providers, digital wallets and other corporates — quickly scale their businesses, differentiate their services and address their customers’ unique needs.The individuals and businesses that rely on them can send payments faster and cheaper anywhere in the world."

Read more here

Capitalise Crypto: Reshaping The Automated Trading Industry

Capitalise Crypto is a platform that enables users to automate their trades using plain English text. Once the user has written the rules for how and when they want to trade, the platform takes the written text and translates it into a series of algorithms that will automatically execute trades on their behalf. Users will even be able to backtest, optimize and monitor the trades, in order to improve their personal strategies.

With the Capitalise Crypto platform, users will be able to enjoy similar tools that hedge fund managers and institutional traders are using in traditional markets. The platform has been under development for over three years and is already in the hands of broker-dealers in closed-beta format.

Read more here

Kind Ads To Hold World’s First Virtual Summit on Decentralized Advertising

Kind Ads, a new digital token whose aim is to create a better advertising experience for users, advertisers, publishers and app developers, is putting together the World’s first Virtual Summit on Decentralized Advertising featuring keynote speaker, and legendary online marketer, Neil Patel, May 4, 2018.

The entire summit will be broadcast online and features an all-star roster of the biggest names and authorities in online advertising, retail and startups, with topics ranging from the future of data rights to user security in the digital age.

The organizers of the Virtual Summit will discuss the current broken advertising space of centralized advertising by giants like Google and Facebook, and how decentralized advertising will shake up the current advertising market in the near future. The Virtual Summit will focus on the future of decentralized advertising, and how we can give the data back to users, while still being able to create an effective and better ad experience for advertisers, publishers and app developers.

Tickets to the virtual event are free, and by claiming your free ticket, you will automatically be entered into a contest to win prizes including Trezor hardware wallets, crypto swag, and other prizes.

Click Here To Enter: https://virtualsummit.kindads.io.

Recently Added:

RAC added to the Ongoing ICO list

Press Release

State of the Crypto

Bitcoin is down 1.65% at $9,319.290 with a volume of Ƀ59.2k - $553.6M on the USD pairs.

Ether is up 0.1% against Bitcoin at Ƀ0.07343 per Ether and down 1.5% against the dollar to $683.53 with average volume Ƀ34.5k on the ETH/BTC pair.

Bitcoin Cash is down 2.28% to Ƀ0.1502 with volumes of Ƀ22.6k and down 3.99% against the dollar at $1398.65.

Ripple is down 3.12% to Ƀ0.00009118 with volumes of Ƀ14.0k and down 4.79% against the dollar at $0.8474.

Zcash is down 0.83% for the day to Ƀ0.03104 per ZEC and down 2.39% against the dollar to $289.55 with an average volume of Ƀ2.7k for the 24 hour period.

Litecoin is down 2.28% against the dollar for the day at $150.79 and down 0.37% to Ƀ0.01622 on volumes of Ƀ10.1k.

Dash is down 0.72% at Ƀ0.05235 with Ƀ4.9k volume and down 2.41% against the dollar at $487.69.

Iota is down 3.23% to Ƀ0.0002125 on Ƀ2.9k volume.

Ether Classic is up 3.21% to Ƀ0.00238 with volumes of Ƀ8.5k and up 1.1% against the dollar at $22.13.

Monero is down 5.38% against the dollar at $245.74 and down 3.76% against Bitcoin at Ƀ0.02633 on volumes of Ƀ5.2k.

Neo is up 9.48% for the day to Ƀ0.009391 per NEO and up 7.59% against the dollar to $87.51 with an average volume of Ƀ16.5k for the 24 hour period.

Waves is down 10.79% to Ƀ0.0007204 on Ƀ6.4k volume.

Stratis is down 1.72% to Ƀ0.0007351 on Ƀ4.0k volume.

Cardano is down 7.31% to Ƀ0.00003752 on Ƀ13.5k volume.

NEM is down 3.14% to Ƀ0.00004437 on Ƀ960.137 volume.

EOS is down 12.28% to Ƀ0.002 on Ƀ54.1k volume.

Tron is up 6.18% to Ƀ0.0000098 on Ƀ33.6k volume.

Stellar is down 0.5% to Ƀ0.00004748 on Ƀ5.9k volume.
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