The Crypto Roundup: 10 June 2024

Latest price and news from the crypto space

Latest price from our hand picked list of digital assets

Top stories in the Crypto Roundup:

Binance celebrates a record-breaking Binance Launchpad token sale.
Bitcoin’s realized cap reaches $100 billion for the first-ever time.
Blockchain to integrate BitPay’s payments architecture for wallet users.

BTC/USD spiked by roughly 7% over a two-hour period late on Sunday evening (UTC). Accompanying the price rally was the largest amount of trading volume in several weeks—an encouraging sign for the bulls, to be sure.

At the time of writing, bitcoin (BTC) is trading at $10,332.4 (+2.96%) with daily top-tier volume of $2.13 bn. As for ether (ETH) it is trading at $191.1 (+1.37%) with daily top-tier volume of $288.56 mn. The MVIS CryptoCompare Digital Assets 10 Index is currently tracking at 3,370.85 (–0.20%).

Binance Celebrates Record-Breaking Launchpad Sale

Leading cryptocurrency exchange Binance saw the largest amount yet of Binance Coin (BNB) staked as part of an initial exchange offering (IEO) hosted on its token launch platform, Binance Launchpad.

The project associated with the IEO was smart contract platform Perlin, which raised its “initial Launchpad hard cap” of $6.7 million (USD) “almost instantly.” Over 40,000 participants—which are all now holders of Perlin’s native PERL token—were involved in the IEO.

Following the completion of the IEO, Binance announced on Sunday that it will “also open trading for PERL/BNB, PERL/BTC, PERL/USDT, and PERL/USDC trading pairs at 2019/08/26 12:00 PM (UTC).”

Bitcoin’s Realized Cap Hits $100 Billion for the First Time

The realized cap of bitcoin has surpassed $100 billion for the first-ever time, according to data retrieved from cryptocurrency data provider, Coin Metrics.

Realized cap is a network valuation metric that attempts to improve on the widely used market cap metric (i.e., circulating supply multiplied by latest market price) by trying to discount coins that might be lost, unused, or unclaimed. It does this by approximating the value paid for all coins in existence by summing the market value of coins at the time they last moved on the blockchain.

“As a measure of economic significance, I much prefer it to ‘market cap’, which counts as relevant the 15-20% of coins which are likely permanently lost,” tweeted Coin Metrics co-founder Nic Carter on Monday morning. “By realized cap's estimate, Bitcoin is the biggest it has ever been (but much smaller than the $300b mkt cap implied at peak).”

Blockchain to Integrate BitPay’s Payments Architecture for Wallet Users

Blockchain—a Bitcoin wallet provider and exchange operator—announced late on Friday a partnership with BitPay, whose world-leading bitcoin payments infrastructure will integrate into Blockchain’s wallet service. This will allow users to pay for goods and services from a vast merchant network without ever giving up control of their private keys.

Users of Blockchain’s wallet will be able to copy or scan an invoice before completing the payment from within the wallet’s application. In its announcement, Blockchain noted that other cryptocurrencies will “soon” be made available for wallet users to use a payment method.

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