Market Analysis Report

10 June 2024

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index has closed at 8,169.25 with a gain of 6.54% for the day.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $9,674 representing a gain of 4.64% in the last 24 hours. More than $900 M worth of BTC were exchanged in the BTC/USD market representing a 27.9% share of the global daily volume. The BTC/JPY pair represents a 36.78% share.

The Ethereum price has risen 7.9% over the past 24 hours and is currently sitting at $778, with over $450 M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 28.2% market share of the daily trading volume.

See live charts here and here

JPMorgan Seeks Patent for Blockchain-Powered Interbank Payments

JPMorgan Chase is seeking to patent a blockchain-based system to facilitate and reconcile financial transactions. On Thursday, the U.S Patent and Trademark Office published a patent application in which JPMorgan outlined a system that uses blockchain technology to record payments being sent from one bank to another using a peer-to-peer network. JPMorgan explained:

"In one embodiment, a method for processing network payments using a distributed ledger may include: (1) a payment originator initiating a payment instruction to a payment beneficiary; (2) a payment originator bank posting and committing the payment instruction to a distributed ledger on a peer-to-peer network (...)"

Read more here

Reddit Plans to Reinstate Cryptocurrency Payments

A couple of weeks after Reddit disabled Bitcoin as a form of payment for premium membership services, the company seems to be planning to reinstate the cryptocurrencies. In an interview with Cheddar, Reddit's CTO Christopher Slowe revealed that the Reddit payment systems are undergoing an upgrade to be in synch with CoinBase's servers and will soon allow users to purchase gold memberships with Bitcoin. After being questioned if the company will also accept other cryptocurrencies, Slowe answered:

“We have been looking at other Cryptocurrencies. We are looking at Ethereum and Litecoin that are provided by Coinbase as well”.

Read more here

Bitmain to Release First Zcash ASIC Miner

On Wednesday, the mining hardware manufacturer, Bitmain, revealed that it had developed the first Application Specific Integrated Circuit (ASIC) miner capable of mining on Equihash-secured networks like Zcash, the Antminer Z9 Mini. On an official blog post the company stated:

"Pleased to announce the Antminer Z9 mini, an ASIC miner to mine #Equihash-based cryptocurrencies. To prevent hoarding and to let more individuals worldwide get one, we've set a limit of one miner per user."

Read more here

Monaco International Blockchain Conference - Use the "compare20" code to get 20% discount

Monaco International Blockchain (M.I.B) powered by Monoeci is the first major professional event dedicated to the Blockchain Technology organized in the Principality of Monaco. M.I.B will take place on 16th & 17th May at the wonderful Monaco Grimaldi Forum.

International experts and actors within Blockchain ecosystem will give their insights/visions regarding hot topics: governance, privacy, tokenization, regulatory purpose and so forth.  

Concrete applications on specific area such as ecology, social impact, regulations, smart city, traceability or financial markets transparency will be explained and detailed.

The attendees will be entertained by conferences, keynote, exhibition area, cocktail diner, business meeting and so on. Forum will also be an opportunity for start-ups launching their ICOs, Financial companies, public bodies, VCs and experts for making fruitful deals and networking improvement. It will be the opportunity to meet as well as famous companies than promising start-ups: Monoeci, Crypto4All, Credits…   

All the ingredients have been combined for make this event a real success and a great showcase for Blockchain technology.

Book your ticket on the official website:  https://monaco-international-blockchain.io/

Use the "compare20" code to get 20% discount

Press Release

State of the Crypto

Bitcoin is up 4.64% at $9,674.620 with a volume of Ƀ95.2k - $909.6M on the USD pairs.

Ether is up 3.04% against Bitcoin at Ƀ0.0806 per Ether and up 7.9% against the dollar to $778.75 with average volume Ƀ59.0k on the ETH/BTC pair.

Bitcoin Cash is down 4.23% to Ƀ0.1539 with volumes of Ƀ29.8k and up 0.14% against the dollar at $1486.23.

Ripple is down 2.96% to Ƀ0.00008917 with volumes of Ƀ12.3k and up 1.71% against the dollar at $0.864.

Zcash is down 2.35% for the day to Ƀ0.03122 per ZEC and up 2.49% against the dollar to $302.68 with an average volume of Ƀ3.0k for the 24 hour period.

Litecoin is up 4.69% against the dollar for the day at $159.26 and up 0.18% to Ƀ0.0165 on volumes of Ƀ18.9k.

Dash is down 2.7% at Ƀ0.05122 with Ƀ5.1k volume and up 2% against the dollar at $495.75.

Iota is up 4.77% to Ƀ0.0002571 on Ƀ12.9k volume.

Ether Classic is down 4.08% to Ƀ0.00228 with volumes of Ƀ13.2k and up 0.5% against the dollar at $22.06.

Monero is down 0.95% against the dollar at $243.53 and down 5.49% against Bitcoin at Ƀ0.02512 on volumes of Ƀ6.6k.

Neo is down 2.22% for the day to Ƀ0.008946 per NEO and up 2.4% against the dollar to $86.53 with an average volume of Ƀ6.6k for the 24 hour period.

Waves is down 0.48% to Ƀ0.0007926 on Ƀ4.1k volume.

Stratis is down 3.45% to Ƀ0.0007871 on Ƀ1.5k volume.

Cardano is down 6.06% to Ƀ0.00003782 on Ƀ7.9k volume.

NEM is down 1.9% to Ƀ0.00004439 on Ƀ1.0k volume.

EOS is down 8.67% to Ƀ0.001749 on Ƀ35.4k volume.

Tron is down 3.37% to Ƀ0.00000889 on Ƀ30.3k volume.

Stellar is down 4.4% to Ƀ0.00004475 on Ƀ4.1k volume.
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