[CoinNess.com Market Surveillance June 3: BTC Swings Above $8500 Level]As of 11:00 (UTC) on June 3, the global index of Bitcoin (BTC) fluctuates above the $8,500 level, currently marking $8,559.97. It has registered a decrease of 2.06% in the past 24 hours. 
The CoinNess.com Bullish vs. Bearish Indicator shows our four-hour technical bias on BTC is "Neutral" with eight indicators sending out a selling signal, four showing a neutral signal, and six indicating a buying signal. 
The broad market is now in favor with bears, with 77 out of Top 100 cryptos by market cap dropping. 
The global market cap reads $272.10 billion, and the 24-hour trading volume is $73.25 billion. 
Major Coins 
1. BTC quotes show 8,537.48 USDT on Binance, $8,530.00 on Bitfinex and $8,532.05 on Coinbase Pro; 
2. CoinNess.com Market Index presents quotes for major cryptocurrencies besides BTC as following:
ETH marks $265.00 (-2.41%);
XRP marks $0.448 (+1.58%);
BCH marks $432.36 (-3.13%);
LTC marks $113.09 (-1.89%);
EOS marks $7.44 (-5.98%);
ETC marks $9.46 (+2.46%). 

1. Writing on Twitter, a Twitter user named "CryptosBatman," saying, "It looks like Binance has issued their Stable Coin BGBP on Binance Chain!" Then Binance CEO ZHAO Changpeng or CZ responded, "This is in testing phase still, only £200 minted so far. Slowly, but surely..."

2. EOS holders voted to reduce the annual inflation rate from five percent to one percent as of June 1, according to data on the voting platform maintained by EOS Block Producer (BP) EOS Authority. The author of the proposal description notes that "it is therefore time to turn the tap off and reduce the level of inflation down." Lastly, the text also notes that the implementation of the new inflation rate would have no effect on the earnings of the block producers.

Japan's MUFG And SMBC Among 14 To Employ Blockchain-Based Settlement System

Major banks in Japan, the U.S. and Europe are developing a blockchain-based digital coin that can be used to instantly settle overseas money transfers instantly, lowering transaction costs by cutting out intermediaries.

The project will be run by Fnality International, a company recently established in London with about 50 million pounds ($63.1 million) in capital from 14 participating banks, including Japan's MUFG Bank and Sumitomo Mitsui Banking Corp.; UBS, Credit Suisse and Barclays of Europe; and U.S.-based State Street. The Japanese banks are believed to have contributed several hundred million yen each.

Fnality will set up accounts at participating central banks and issue utility settlement coins, or USCs, digital equivalents of major currencies that can be converted into their paired currencies on a one-to-one basis. Fnality intends to have further discussion with representatives from central banks about setting up USB accounts. The system will initially work with U.S. dollars, euros, pounds, yen and Canadian dollars. Fnality plans to step up negotiations with central banks and aims to issue the first USC by late 2020.

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