1. Weekly Market Review
1.1 Market overview
Bitcoin is currently trading for $9,336, which represents a decrease of 0.69% on the day. Meanwhile, Ethereum lost 1.46% on the day, while XRP lost 1.37%. The crypto market has spent the past 24 hours being on a slow downward-facing path.
Compound took the position of today’s biggest daily gainer, with gains of 256.98%. Futurocoin lost 97.63% of its daily value, making it the biggest daily loser. This value represents a 0.01% difference to the downside when compared to yesterday’s value.
Bitcoin’s dominance level stayed at the same place since our last report, with its value currently at 65.27%
Biggest Gainers
Source (CoinMarketCap)
Biggest Losers
Source (CoinMarketCap)
2. Technical Statistics
2.1 Activity Statistics
This value represents a decrease of $1.78 billion when compared to the value it had yesterday. The cryptocurrency market capitalization stayed at almost the same place as yesterday, with the market’s current value being $266.19 billion. (forex.academy)
Source (CoinMarketCap)
2.2 Community Activity Statistic
Bitcoin
The largest crypto by market capitalization spent the past 24 hours slowly moving towards the downside, ultimately testing its support level of $9,251. (forex.academy)
Source (CoinMarketCap)
Ethereum
Ethereum keeps creating lower highs and slowly moving lower throughout the day. The second-largest cryptocurrency by market cap is on its way to test the $228 once again. (forex.academy)
Source (CoinMarketCap)
Ripple
XRP has also spent the day slowly moving to the downside, but with one major difference. The third-largest cryptocurrency by market cap has, unlike Bitcoin and Ethereum, broken its immediate support level. (forex.academy)
Source (CoinMarketCap)
3. Weekly Blockchain News Review
1. World Economic Forum Recognized Six Blockchain Companies as “Technology Pioneers” in 2020, Including MakerDAO and Chainlink
The World Economic Forum (WEF) has honored six blockchain companies on its list of 100 “early to growth-stage” firms Technology Pioneers for 2020, including MakerDAO and Chainlink. (https://blockchain.news)
The other blockchain and crypto firms that were recognized as pioneering new technologies and innovations in 2020 include Lightning Labs, Elliptic, Ripio, and Veridium Labs.
These blockchain companies were chosen along with the 94 other companies around the world for their contributions to the use of “artificial intelligence to diagnose cancers and quantum computing systems to carbon capture and removing technologies.”
According to the Forum, Technology Pioneers are an integral part of the organization’s Global Innovators community, an invitation-only group of the world’s most promising startups in the tech industry.
2. Kazakhstan Intends to Attract Over $738 Million in Crypto Investments in Next Three Years
The government of Kazakhstan is making plans to attract $738 million in investments related to cryptocurrencies and digital mining activities set up with the nation over the next three years. (https://blockchain.news)
Askar Zhumagaliyev, Kazakhstan’s minister of digital development, innovation, and Aerospace industry, disclosed the plan while addressing the June 11 plenary session of the Senate, the Upper House of the Kazakh parliament.
3. US Banking Giant Patents AI Fact Checker to Simplify Investing in Crypto
Capital One Services, a subsidiary of US banking giant Capital One has patented a new artificial intelligence system to guide human cryptocurrency traders through the complicated world of misinformation in the digital assets space. (https://blockchain.news)
Capital One Services is a subsidiary of Capital One and mainly deals in credit and car loans. According to the filing, the new patented system leverages AI technology to sort credible cryptocurrency information from misinformation for those looking to invest or trade.
4. Turkey Leveraging Blockchain to Break US Dollar and SWIFT Dominance
In an effort to break economic ties with the United States and escape the US Dollar dominance of the global markets, Turkey is adopting blockchain and cryptocurrency at a greatly accelerated rate.
As Turkey’s economy teeters on the edge of a potential recession, the people and the government in the nation are seeking alternative solutions in Bitcoin, cryptocurrency, and blockchain.
The Turkish people are looking to Bitcoin and cryptocurrency as a path to financial autonomy, while the Turkish Government is accelerating blockchain and cryptocurrency services development to pull the nation out of the path of the coming recession.
（In preparing the article used materials: https://blockchain.news/）
Amanpuri · Platform Information
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(Disclaimer)
1. Amanpuri does not have any form of association with Blockchain projects or other third-parties mentioned in this report that could jeopardize the objectivity, independence and fairness of this report.
2. All outside information, data referenced in this report is from compliant and legitimate sources that we deem as reliable, and Amanpuri have conducted the due diligence concerning its authenticity, accuracy and completeness, but such due diligence does not provide any guarantee.
3. This report is only for reference purposes. Conclusions and viewpoints in the report do not constitute any form of investment advice on crypto assets. Amanpuri is not responsible for any losses resulting from the use of this report, unless stipulated by law. Under no circumstances should the readers give up their own investment analysis and judgements.
4. This report only reflects the opinions from Amanpuri on the day it was finalized. Future market condition changes may lead to updates of such judgements.
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