Market Analysis Report

10 June 2024

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index closed at 3,726.08 Yesterday at 5 pm (GMT) and has since dropped 1.98%.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $6,999 representing a loss of 1.01% in the last 24 hours. More than $360 M worth of BTC were exchanged in the BTC/USD market representing a 17% share of the global daily volume. The BTC/JPY pair represents a 7% share.

The Ethereum price has dropped 2.96% over the past 24 hours and is currently sitting at $283, with over $90 M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 10% market share of the daily trading volume.

For a detailed market analysis click here

Bittrex Launching USD Markets for Cardano (ADA) and Zcash (ZEC)

Yesterday, U.S. based cryptocurrency exchange Bittrex announced that it is planning to launch two new USD trading pairs. According to an official tweet, the exchange will launch US dollar (USD) markets for Cardano (ADA) and Zcash (ZEC) on the 5th of September. Currently, Bittrex supports USD trading pairs for BTC, ETH, USDT, TUSD, XRP, ETC, ADA, and ZEC and plans to continue adding more tokens/coins. Bittrex's CEO, Bill Shihara, stated:

"As an incubator and leading advocate of blockchain technology, Bittrex is committed to listing tokens that not only have the best business applications, but also are the most innovative blockchain projects in the world. Expanding fiat markets to the top digital currencies on our exchange should further drive adoption of this revolutionary technology...”

Read more here

Bithumb to Reopen Account Registrations After Renewing Contract With Nonghyup Bank

Yesterday, local news outlet Naver, revealed that Bithumb will be reopening new account registrations following a contract renewal with Nonghyup Bank. The reopening of new account registration will mark the first time the exchange will allow new virtual accounts since the suspension of the service on the 31st of July after it experienced a major hack in June, which resulted in the loss of over $30m of user’s funds. Under current legislation, South Korea banks are allowed to provide accounts for crypto exchanges, but for KYC-AML (Know your customer-Anti-money Laundering) purposes, ensuring that all virtual accounts for each user are paired with their verified identities.

Read more here

Crypto Exchange Huobi Acquires Public Firm for $70 Million

Yesterday, Pantronics Holdings, the acquired firm, released a statement that Huobi Group completed the deal by having purchased about 199 million of its shares via two of the group's subsidiaries, Huobi Capital and Huobi Universal. Crypto exchange Huobi becomes the largest shareholder of the public firm listed in Hong Kong. With that amount, Li Lin, chairman of Huobi Group and controller of the two subsidiaries, now owns 66.26 percent of Pantronics and is effectively the largest individual substantial shareholder.

Read more here

Modex, one of the few ICOs with a working product on the market, opens token sale on September 15th

Did you know that Modex is currently one of the few ICOs with a working product already on the market?

1. The Multi-Protocol Smart Contract Marketplace

Explore the fully functional alpha here: https://market.modex.tech!

The Modex Marketplace is the world’s first integrated multi-protocol platform for buying, customizing, compiling, deploying and interacting with smart contracts. On the Modex Marketplace you can discover the right smart contract suited to your needs, interact with a smart contract and test it before buying. We have proudly designed the Modex Marketplace to function like the missing link between smart contracts environment and companies interested in blockchain adoption.

2. Modex Unified Developer Environment (full set of tools for blockchain developers)

The Modex team has taken on the challenge to build a full Developer Platform and become the go-to place for developers wanting to shift to blockchain development. Check out the new Modex Developer Platform here: https://dev.modex.tech!

By launching the new dev platform, Modex is creating an end-to-end solution for developers, resulting in an increase in blockchain adoption and also in the quality and sophistication of blockchain development projects.

Modex is launching the PUBLIC TOKEN SALE on September 15th, this year. In order to participate in the main token sale, contributors can access the following link https://www.modex.tech and join the whitelist, which is now open.

JOIN THE WHITELIST

Recently Added:

DOM added to Upcoming ICO list

Press Release

State of the Crypto

Bitcoin is down 1.01% at $6,999.880 with a volume of Ƀ51.9k - $366.6M on the USD pairs.

Ether is down 1.84% against Bitcoin at Ƀ0.04065 per Ether and down 2.96% against the dollar to $283.72 with average volume Ƀ47.3k on the ETH/BTC pair.

Bitcoin Cash is down 0.49% to Ƀ0.07848 with volumes of Ƀ14.5k and down 1.53% against the dollar at $547.75.

Ripple is down 0.78% to Ƀ0.00004843 with volumes of Ƀ7.3k and down 1.74% against the dollar at $0.338.

Zcash is down 2.27% for the day to Ƀ0.02111 per ZEC and down 3.23% against the dollar to $147.43 with an average volume of Ƀ3.2k for the 24 hour period.

Litecoin is down 2.32% against the dollar for the day at $60.51 and down 1.21% to Ƀ0.008666 on volumes of Ƀ10.7k.

Dash is down 6.2% at Ƀ0.02604 with Ƀ6.1k volume and down 6.48% against the dollar at $181.82.

Iota is down 10.43% to Ƀ0.00009763 on Ƀ2.8k volume.

Ether Classic is down 0.27% to Ƀ0.001841 with volumes of Ƀ6.0k and down 1.38% against the dollar at $12.86.

Monero is down 5.74% against the dollar at $100.99 and down 3.6% against Bitcoin at Ƀ0.01448 on volumes of Ƀ1.7k.

Neo is down 4.37% for the day to Ƀ0.002778 per NEO and down 5.71% against the dollar to $19.33 with an average volume of Ƀ7.9k for the 24 hour period.

Waves is down 3.64% to Ƀ0.0003041 on Ƀ467.643 volume.

Stratis is down 2.46% to Ƀ0.0002257 on Ƀ168.29 volume.

Cardano is up 0.48% to Ƀ0.00001472 on Ƀ2.7k volume.

NEM is down 3.78% to Ƀ0.000015 on Ƀ493.031 volume.

EOS is up 2.49% to Ƀ0.0008576 on Ƀ28.3k volume.

Tron is down 5.35% to Ƀ0.00000354 on Ƀ4.2k volume.

Stellar is down 3.06% to Ƀ0.00003168 on Ƀ2.6k volume.
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