Market Analysis Report

10 June 2024

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index closed at 3,441.90 Yesterday at 5 pm (GMT) and has since increased 0.47%.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $6,535 representing a gain of 1.38% in the last 24 hours. More than $310 M worth of BTC were exchanged in the BTC/USD market representing a 21% share of the global daily volume. The BTC/JPY pair represents a 9% share.

The Ethereum price has increased 0.29% over the past 24 hours and is currently sitting at $275, with over $90 M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 12% market share of the daily trading volume.

For a detailed market analysis click here

Bank of Thailand Is Developing Its Own Cryptocurrency

According to a press release published last Tuesday, the Bank of Thailand (BoT), Thailand’s central financial institution, is collaborating with blockchain startup R3 and 8 other banks to develop a Central Bank Digital Currency. This Project is called Inthanon and will contribute to the design of future financial infrastructure similar to other state-backed digital currency projects currently being developed by Hong Kong, Singapore and Canada.

Read more here

Rialto Teams up With Bittrex for Digital Securities Trading Platform

Yesterday, Rialto Trading, a provider of an alternative trading system (ATS) has announced that it is partnering with cryptocurrency exchange Bittrex to create a blockchain-based trading platform. Rialto (which already offers its users a regulated ATS for trading fixed income products), is in communications with regulators alongside Bittrex seeking permission to extend its ATS services into the cryptocurrencies space. Shari Noonan, Rialto Trading CEO, stated:

“We are excited to share Rialto’s expertise in building networks and trading solutions in the regulated securities industry to develop this new venture in partnership with Bittrex. By working together, we’ll be able to expand our current client offerings to not only include digital securities, but also provide them access to a globally advanced and reliable trading platform.”

Read more here

SEC Will Review Denied Bitcoin ETF Applications

Yesterday, The U.S. Securities and Exchange Commission (SEC) stayed three orders denying Bitcoin ETF applications. However, in a potential reversal of fortune, the SEC announced that the Commission, led by Chairman Jay Clayton, will review those orders, which had originally been drafted by staff members on behalf of agency leadership. As SEC Commissioner Hester Peirce explained on Twitter:

"Yesterday's staff orders disapproving SRO rules related to a number of Bitcoin ETFs are stayed pending Commission review."

Read more here

Ronaldinho Soccer Coin: Crypto Platform to Disrupt Soccer and Futsal

Soccer is highly centralized with big companies controlling betting terms, and conditions for local tournaments. Individual fans can’t easily support favourite teams. Local rising talents can’t get into top teams because nobody knows about them.

With RSC (Ronaldinho Soccer Coin), soccer communities will transact directly around the world, without any intermediary between them. Fans will take back control over betting, able to choose matches and odds, receive pay-offs automatically and win from transparency. RSC will unite supporters all around the world by making it easy to sponsor a team or individual players in just a couple of clicks. 300 “Digital Stadiums” will host local matches, open for any players with basic play skills. The AI-powered system will help identify rising talents and recommend them for football clubs around the world.

The famous soccer player, Ronaldinho, will help deliver an aligned program for both commercial and charitable initiatives with 10% from each match winnings going to charitable endeavours.

You’re welcome to learn more about the project on the Website and in the White Paper. Follow growing RSC communities on Medium, Facebook, Twitter, and Instagram to stay in touch with the team.

Press Release

State of the Crypto

Bitcoin is up 1.38% at $6,535.720 with a volume of Ƀ49.1k - $318.5M on the USD pairs.

Ether is down 0.96% against Bitcoin at Ƀ0.04219 per Ether and up 0.29% against the dollar to $275.13 with average volume Ƀ40.5k on the ETH/BTC pair.

Bitcoin Cash is up 0.37% to Ƀ0.08109 with volumes of Ƀ12.4k and up 1.71% against the dollar at $528.92.

Ripple is down 0.88% to Ƀ0.00004972 with volumes of Ƀ7.1k and up 0.53% against the dollar at $0.3242.

Zcash is up 0.35% for the day to Ƀ0.02015 per ZEC and up 1.65% against the dollar to $131.46 with an average volume of Ƀ2.7k for the 24 hour period.

Litecoin is up 2.11% against the dollar for the day at $56.72 and up 0.64% to Ƀ0.008688 on volumes of Ƀ8.7k.

Dash is down 1.93% at Ƀ0.02129 with Ƀ6.3k volume and down 0.07% against the dollar at $139.41.

Iota is up 2.39% to Ƀ0.00007789 on Ƀ1.2k volume.

Ether Classic is down 0.32% to Ƀ0.001898 with volumes of Ƀ9.6k and up 1.39% against the dollar at $12.4.

Monero is up 0.25% against the dollar at $89.35 and down 1.08% against Bitcoin at Ƀ0.01372 on volumes of Ƀ2.4k.

Neo is up 2.65% for the day to Ƀ0.00271 per NEO and up 4.07% against the dollar to $17.64 with an average volume of Ƀ4.0k for the 24 hour period.

Waves is up 6.29% to Ƀ0.0003432 on Ƀ401.453 volume.

Stratis is up 4.39% to Ƀ0.0002162 on Ƀ128.897 volume.

Cardano is up 1.29% to Ƀ0.00001415 on Ƀ1.8k volume.

NEM is up 1.86% to Ƀ0.00001536 on Ƀ554.604 volume.

EOS is up 1.84% to Ƀ0.0007533 on Ƀ9.2k volume.

Tron is up 4.53% to Ƀ0.00000323 on Ƀ3.8k volume.

Stellar is up 0.52% to Ƀ0.00003306 on Ƀ3.1k volume.
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