Market Analysis Report

10 June 2024

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index closed at 3,458.74 yesterday at 5 pm (GMT) and has since increased 2.49%.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $6,661 representing a gain of 3.91% in the last 24 hours. More than $560 M worth of BTC were exchanged in the BTC/USD market representing a 28% share of the global daily volume. The BTC/JPY pair represents a 12% share.

The Ethereum price has increased 1.07% over the past 24 hours and is currently sitting at $282, with over $150 M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 17% market share of the daily trading volume.

See live charts here and here

 

UK Top Football Clubs Ink eToro Sponsorships in Bitcoin

Global online investment platform eToro has recently partnered with seven major Premier League football clubs (Tottenham Hotspur, Leicester City, Southampton, Cardiff City, Brighton, Newcastle United and Crystal Palace.) – all paid in Bitcoin. In an interview with the Daily Telegraph, Iqbal Gandham, managing director of eToro UK, revealed:

"We've done a sponsorship deal, but rather than pay them in traditional pound notes we've paid them in Bitcoin."

Read more here

Nvidia Officially Quits Crypto

The world’s largest graphics card and chip maker Nvidia has officially put an end to its crypto venture, with the official announcement of its CFO Colette Kress. In a statement, Kress said:

“We believe we’ve reached a normal period as we’re looking forward to essentially no cryptocurrency as we move forward. Our revenue outlook had anticipated cryptocurrency-specific products declining to approximately $100 million, while actual crypto-specific product revenue was $18 million, and we now expect a negligible contribution going forward.”

Read more here

Crypto Media Banned From WeChat 

Blockchain and cryptocurrency media accounts in China have been banned on WeChat, the country's popular messenger app.

As first observed by Lanjiner, a China-based finance news outlet, on the Jinse's official Wechat account, none of its previous articles was shown. Instead, a text is posted indicating that the account has been banned. The message explains:

"Due to users' complaints and after the platform's examinations, the account is found to violate 'Temporary Regulations on the Development and Management of Public Information Services for Instant Messaging Tools' and all contents have been banned. The account has been prohibited for use."

Read more here

State of the Crypto

Bitcoin is up 3.91% at $6,661.570 with a volume of Ƀ84.8k - $560.9M on the USD pairs.

Ether is down 2.59% against Bitcoin at Ƀ0.04252 per Ether and up 1.07% against the dollar to $282.25 with average volume Ƀ46.1k on the ETH/BTC pair.

Bitcoin Cash is down 0.1% to Ƀ0.08265 with volumes of Ƀ14.9k and up 3.94% against the dollar at $549.57.

Ripple is down 1.03% to Ƀ0.00005105 with volumes of Ƀ8.0k and up 2.91% against the dollar at $0.3396.

Zcash is down 0.15% for the day to Ƀ0.02057 per ZEC and up 3.45% against the dollar to $136.3 with an average volume of Ƀ2.4k for the 24 hour period.

Litecoin is up 3.97% against the dollar for the day at $57.39 and up 0.15% to Ƀ0.008631 on volumes of Ƀ9.8k.

Dash is down 1.2% at Ƀ0.02225 with Ƀ5.3k volume and up 2.28% against the dollar at $147.57.

Iota is up 0.25% to Ƀ0.00008015 on Ƀ1.3k volume.

Ether Classic is down 6.45% to Ƀ0.001826 with volumes of Ƀ8.6k and up 3.27% against the dollar at $12.94.

Monero is up 0.69% against the dollar at $95.36 and down 2.58% against Bitcoin at Ƀ0.01437 on volumes of Ƀ2.2k.

Neo is down 2.29% for the day to Ƀ0.002736 per NEO and up 1.34% against the dollar to $18.14 with an average volume of Ƀ3.4k for the 24 hour period.

Waves is down 1% to Ƀ0.0003278 on Ƀ610.322 volume.

Stratis is down 2.2% to Ƀ0.0002183 on Ƀ115.171 volume.

Cardano is down 2.25% to Ƀ0.00001434 on Ƀ2.4k volume.

NEM is down 4.61% to Ƀ0.00001532 on Ƀ542.537 volume.

EOS is up 0.31% to Ƀ0.000754 on Ƀ10.2k volume.

Tron is down 2.47% to Ƀ0.00000316 on Ƀ3.9k volume.

Stellar is down 0.44% to Ƀ0.00003359 on Ƀ3.2k volume.
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