Market Analysis Report

10 June 2024

MVIS-CryptoCompare Index

The MVIS CryptoCompare Digital Assets 10 Index closed at 2,825.70 yesterday at 5 pm (GMT) and has since dropped 2.22%.

See the live index here

Market Update

At the time of writing, the Bitcoin price is sitting at $5,685 representing a loss of 1.61% in the last 24 hours. More than $160M worth of BTC were exchanged in the BTC/USD market representing a 7.5% share of the global daily volume. The pair with most volume was the BTC/USDT with an 81.2% share.

The Ethereum price has dropped 1.22% over the past 24 hours and is currently sitting at $162.2, with over $45M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 3.65% market share of the daily trading volume. The largest ETH trading pair was the ETH/USDT with a 48% share.

See live charts here and here

New Document Details $1 Billion Bitfinex Token Sale

New details are emerging about a planned $1 billion token sale to be held by iFinex, the parent company of Bitfinex and Tether - two cryptocurrency companies currently being sued by the state of New York for allegedly covering up an $850 million loss in customer funds.

Last Saturday, Zhao Dong, a known company shareholder and over-the-counter trader, released on Twitter a 3-page “marketing document” detailing the specifics of how the sale might ultimately take place while noting throughout that it is not intended to be legally binding.

According to the document, the tokens are to be issued by Unus Sed Leo Limited, a new company owned by iFinex. In total, 1 billion tokens will be issued by Unus Sed Leo Limited, each selling for 1 USDT, the US-dollar backed stablecoin issued by Tether. The exchange said:

“The tokens will be sold in a private offering without the means of general solicitation or general advertising. Any tokens that remain issued may be sold in the manner and times determined by the Issuer in its sole discretion.”

Read more here

US Court Orders Craig Wright to Provide Bitcoin Ownership Records

The United States District Court of the Southern District of Florida issued an order last Friday, requiring self-proclaimed Satoshi Nakamoto Craig Wright to produce a list of his public Bitcoin (BTC) addresses.

The order is part of an ongoing case against Wright filed by the estate of computer scientist David Kleiman, which claims that Wright stole hundreds of thousands of BTC. The coins were worth over $5 billion dollars in February last year when Kleiman’s estate first sued Wright.

The document also specifies that the court has reconsidered its order on Wright’s previously filed motion to seal information regarding his Bitcoin holdings. In addition to denying Wright’s motion regarding the list of Bitcoin addresses, the court order states:

“On or before May 15, 2019, at 5:00 p.m. Eastern time, Dr. Wright shall produce all transactional records of the blind trust, including but not limited to any records reflecting the transfer of bitcoin into the blind trust in or about 2011. The production shall be accompanied by a sworn declaration of authenticity.”

Read more here

John McAfee Launches App Letting Users Earn Crypto While Testing Their Knowledge

John McAfee, the creator of the widely-used McAfee antivirus, has announced the launch of his new app, called “Bitcoin Play.” Last Saturday, McAfee revealed to his over 900,000 followers on Twitter that Bitcoin Play is now available on Google Play for Android users. According to the eccentric crypto millionaire, the Bitcoin Play app reportedly allows users to earn Bitcoin (BTC) while answering various trivia questions.

As explained by Bitcoin Play’s developers, the app allows users to test their knowledge of history, sports, general knowledge, entertainment (among other categories) by responding to “challenging multiple-choice” questions. The app’s trivia game is in the typical format of a “quiz game” where users are rewarded in satoshis, which can be sent directly to their cryptocurrency wallets.

Read more here

Binance, Coindesk, The Block, Refinitiv and MakerDAO join the CryptoCompare Digital Asset Summit

Check out the new wave of speakers joining the CryptoCompare and Digital Asset Summit, on 12 June in London!

The newly announced speakers include Joon Ian Wong - Managing Director at Coindesk, Ted Lin - Chief Growth Officer at Binance, Max Boonen - Managing Director at B2C2, Isabel Woodford - European Correspondent at The Block, Michel Rauchs - Cryptocurrency and Blockchain Lead at Cambridge Centre for Alternative Finance, Tim Nugent - Senior Research Scientist at Refinitiv and Jennifer Senhaji - Business Development at MakerDAO.

We are also delighted to welcome Cointelegraph and Chepicap as media partners.

Who else is coming: Hear the best and brightest speakers in the crypto and finance world, get to know like-minded individuals and hang out with the CryptoCompare team. Whether you’re looking for knowledge, connections, or business opportunities, you’ll leave the conference with a network that will last you long after it’s over.

Book tickets »

Press Release

State of the Crypto

Bitcoin is down 1.61% at $5,685.270 with a volume of Ƀ29.3k - $168.8M on the USD pairs.

Ether is up 0.28% against Bitcoin at Ƀ0.02837 per Ether and down 1.22% against the dollar to $162.24 with average volume Ƀ91.1k on the ETH/BTC pair.

Litecoin is down 5.47% against the dollar for the day at $72.74 and down 3.99% to Ƀ0.01276 on volumes of Ƀ72.9k.

Bitcoin Cash is down 1.43% to Ƀ0.04955 with volumes of Ƀ49.8k and down 3.05% against the dollar at $282.21.

EOS is down 2.85% to Ƀ0.0008276 on Ƀ40.7k volume.

Ripple is up 0.1% to Ƀ0.00005238 with volumes of Ƀ18.3k and down 1.49% against the dollar at $0.2978.

Ether Classic is down 2.5% to Ƀ0.000976 with volumes of Ƀ9.6k and down 4.27% against the dollar at $5.6.

Dash is up 1.17% at Ƀ0.02083 with Ƀ9.1k volume and down 0.84% against the dollar at $118.69.

Tron is up 1.75% to Ƀ0.00000406 on Ƀ8.7k volume.

Neo is down 3.43% for the day to Ƀ0.001576 per NEO and down 4.96% against the dollar to $9.38 with an average volume of Ƀ6.2k for the 24 hour period.

Zcash is up 0.77% for the day to Ƀ0.01046 per ZEC and down 0.96% against the dollar to $61.58 with an average volume of Ƀ4.9k for the 24 hour period.

Stellar is down 5.4% to Ƀ0.00001683 on Ƀ4.5k volume.

Cardano is down 2.59% to Ƀ0.0000113 on Ƀ3.2k volume.

Monero is down 3.52% against the dollar at $66.12 and down 2.13% against Bitcoin at Ƀ0.01151 on volumes of Ƀ2.0k.

Iota is down 3.76% to Ƀ0.00004689 on Ƀ814.801 volume.

Waves is down 0.63% to Ƀ0.0003627 on Ƀ633.562 volume.

NEM is down 3.53% to Ƀ0.00000901 on Ƀ328.091 volume.

Stratis is down 1.7% to Ƀ0.0001391 on Ƀ237.136 volume.
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