Market Analysis Report

10 June 2024

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index closed at 2,181.96 yesterday at 5 pm (GMT) and has since dropped 1.28%.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $4,004 representing a gain of 1.86% in the last 24 hours. More than $115M worth of BTC were exchanged in the BTC/USD market representing an 8% share of the global daily volume. The pair with most volume was the BTC/USDT with an 80% share.

The Ethereum price has risen 1.48% over the past 24 hours and is currently sitting at $137, with over $50M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 4% market share of the daily trading volume. The largest ETH trading pair was the ETH/USDT with a 48.75% share.

See live charts here and here

DragonEx Exchange Hacked - Users’ Crypto ‘Transferred and Stolen’

Singapore-based exchange DragonEx announced it has been hacked for an undisclosed amount in a number of cryptocurrencies last Monday. The company announced the news on its official Telegram channel stating that on Sunday, March 24, it had suffered a cyberattack that saw cryptocurrency funds owned by users and the exchange “transferred and stolen.” The announcement reads:

“Part of the assets were retrieved back, and we will do our best to retrieve back the rest of stolen assets. We’re assisting policemen to do an investigation. All platform services will be closed and the accurate assets loss recovery situation will be announced in a week. For the loss caused to our users, DragonEx will take the responsibility no matter what.”

Read more here

Weiss Cryptocurrency Outlook March 2019 Edition Released

Yesterday, Weiss Cryptocurrency Ratings, a division of Weiss Ratings which is the world's only financial rating agency providing grades on cryptocurrencies, released the March 2019 edition of the "Weiss Cryptocurrency Outlook" report, which aims to help investors by rating 122 cryptocurrencies using the following evaluation criteria: technology, adoption, risk, and reward.

None of the 122 cryptocurrencies received an Overall Weiss Crypto Rating in the "A" range ("primary because cryptocurrency price trends have been consistently unfavourable in recent months, generating low scores for risk and reward among nearly all cryptocurrencies"). Four managed to get an Overall Weiss Crypto Rating of "B-"; these were Bitcoin, EOS, XRP, and Binance Coin.

Read more here

E-Commerce Giant Rakuten Wins License for New Crypto Exchange

Japan’s top financial watchdog has granted a license to a cryptocurrency exchange being relaunched by e-commerce giant Rakuten. The country’s Financial Service Agency (FSA) announced the news on Monday, stating that the new exchange, Rakuten Wallet, is now registered with the Kanto Local Financial Bureau as a virtual currency exchange service provider under the country’s Payment Service Act. Rakuten also confirmed the news in a separate statement that reads:

"The company has officially restructured its management system, including formulating a business improvement plan and strengthening its business management and internal control systems, and could register as a virtual currency exchange services provider.”

Read more here

State of the Crypto

Bitcoin is up 1.86% at $4,004.660 with a volume of Ƀ29.8k - $117.8M on the USD pairs.

Ether is up 0.85% against Bitcoin at Ƀ0.03435 per Ether and up 2.52% against the dollar to $137.73 with average volume Ƀ135.3k on the ETH/BTC pair.

Litecoin is up 2.66% against the dollar for the day at $60.55 and up 1.07% to Ƀ0.01508 on volumes of Ƀ78.1k.

EOS is up 9.35% to Ƀ0.00101 on Ƀ71.6k volume.

Ripple is up 0.39% to Ƀ0.00007666 with volumes of Ƀ27.9k and up 2.13% against the dollar at $0.3071.

Bitcoin Cash is up 4.97% to Ƀ0.042 with volumes of Ƀ17.6k and up 7.1% against the dollar at $169.34.

Dash is up 0.8% at Ƀ0.02266 with Ƀ10.1k volume and up 2.7% against the dollar at $91.6.

Neo is up 1.73% for the day to Ƀ0.002288 per NEO and up 3.35% against the dollar to $9.25 with an average volume of Ƀ9.7k for the 24 hour period.

Tron is up 0.53% to Ƀ0.00000572 on Ƀ8.6k volume.

Ether Classic is down 0.17% to Ƀ0.001185 with volumes of Ƀ8.5k and up 1.49% against the dollar at $4.76.

Stellar is up 1.81% to Ƀ0.00002594 on Ƀ8.4k volume.

Cardano is up 8.12% to Ƀ0.00001638 on Ƀ8.3k volume.

Zcash is up 0.22% for the day to Ƀ0.01373 per ZEC and up 2.01% against the dollar to $55.27 with an average volume of Ƀ6.8k for the 24 hour period.

Monero is up 3.69% against the dollar at $52.56 and up 1.95% against Bitcoin at Ƀ0.0131 on volumes of Ƀ4.4k.

Waves is down 0.16% to Ƀ0.0006824 on Ƀ1.9k volume.

Iota is up 0.9% to Ƀ0.00007509 on Ƀ869.239 volume.

NEM is down 1.11% to Ƀ0.00001247 on Ƀ716.17 volume.

Stratis is up 4.52% to Ƀ0.0002358 on Ƀ652.066 volume.

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