Market Analysis Report

10 June 2024

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index closed at 2,099 yesterday at 5 pm (GMT) and has since dropped 1.4%.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $3,665 representing a loss of 3.47% in the last 24 hours. More than $270 M worth of BTC were exchanged in the BTC/USD market representing a 20.2% share of the global daily volume. The BTC/JPY pair represents a 10.3% share.

The Ethereum price has dropped 1.7% over the past 24 hours and is currently sitting at $119, with over $150 M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 16.3% market share of the daily trading volume.

See live charts here and here

Litecoin Makes New Sponsorship Deal with UFC

Yesterday, the Litecoin Foundation announced a partnership with Ultimate Fighting Championship (UFC), the leading mixed martial arts organization, in order to promote the cryptocurrency. The deal will see the litecoin logo displayed on the octagon canvas at an upcoming UFC 232 event. The litecoin foundation stated:

“With brands and institutions continuing to push into cryptocurrency and blockchain, this is yet another signal of this technology moving closer towards the mainstream,” 

Read more here

190 Companies Seek to Enter Japanese Cryptocurrency Market

Today, it was confirmed by Japan’s Financial Services Agency (FSA) the list of companies looking to get registered as cryptocurrency operators. Line Corp., Yahoo! Japan, and Money Forward Inc., are just some of the most well-known companies on the list. The FSA said:

"Including preliminary consultation/inquiries regarding registration, more than 190 operators are expressing their intention of market entry."

Read more here

US Defense Department Says Blockchain Can Help in Disaster Relief

Yesterday, the U.S. Department of Defense stated that blockchain technology has “enormous” potential in helping improve disaster relief efforts. A section of the Defense Logistics Agency held a meeting earlier this month to understand how blockchain could have further assisted Puerto Rico citizens after the devastating Hurricane Maria in 2017. A representative from Troop Support’s Continuous Process Improvement (CPI) office stated: 

“We’re researching the technology. We’re getting as smart as we can about what it is, what industry is saying about it, what the future might look like, how it applies to supply chains and how other industries are using it. We’re doing our due diligence.”

Read more here

State of the Crypto

Bitcoin is down 3.47% at $3,665.530 with a volume of Ƀ75.5k - $279.8M on the USD pairs.

Ether is down 1.72% against Bitcoin at Ƀ0.03249 per Ether and down 5.06% against the dollar to $119.42 with average volume Ƀ75.7k on the ETH/BTC pair.

Bitcoin Cash is down 6.23% to Ƀ0.0414 with volumes of Ƀ12.0k and down 9.24% against the dollar at $151.23.

Ripple is down 1.18% to Ƀ0.00009529 with volumes of Ƀ35.3k and down 4.41% against the dollar at $0.351.

Zcash is down 1.78% for the day to Ƀ0.01547 per ZEC and down 4.97% against the dollar to $57.56 with an average volume of Ƀ7.8k for the 24 hour period.

Litecoin is down 3.8% against the dollar for the day at $28.87 and down 0.34% to Ƀ0.007896 on volumes of Ƀ30.7k.

Dash is down 1.32% at Ƀ0.02097 with Ƀ6.7k volume and down 4.64% against the dollar at $78.17.

Iota is up 2.02% to Ƀ0.00008881 on Ƀ587.287 volume.

Ether Classic is down 2.04% to Ƀ0.001343 with volumes of Ƀ12.3k and down 5.15% against the dollar at $4.97.

Monero is down 1.05% against the dollar at $47.28 and up 2.16% against Bitcoin at Ƀ0.01276 on volumes of Ƀ2.0k.

Neo is down 2.76% for the day to Ƀ0.001936 per NEO and down 5.97% against the dollar to $7.24 with an average volume of Ƀ3.6k for the 24 hour period.

Waves is down 2.11% to Ƀ0.0008394 on Ƀ3.5k volume.

Stratis is down 2.79% to Ƀ0.0003281 on Ƀ2.0k volume.

Cardano is down 2.29% to Ƀ0.00001026 on Ƀ1.6k volume.

NEM is down 4.13% to Ƀ0.00001743 on Ƀ493.195 volume.

EOS is down 3.66% to Ƀ0.0006396 on Ƀ28.8k volume.

Tron is down 1.54% to Ƀ0.00000513 on Ƀ6.1k volume.

Stellar is down 0.81% to Ƀ0.00003062 on Ƀ2.8k volume.
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