[CoinNess.com Market Surveillance June 4: BTC Plunged To $7800, Now Edges Up To $7900]As of 11:00 (UTC) on June 4, the global index of Bitcoin (BTC) now is taking on incremental increases to reclaim the $8,000 level. Now it marks $7,989.20, registering a decrease of 6.34% in the past 24 hours.

The CoinNess.com Bullish vs. Bearish Indicator shows our four-hour technical bias on BTC is "Strong Sell" with 14 indicators sending out a selling signal, four showing a neutral signal, and none indicating a buying signal.

The broad market is firmly within the clenched fist of bears, with 90 out of Top 100 cryptos by market cap dropping.

The global market cap reads $254.03 billion, and the 24-hour trading volume is $82.05 billion.

Major Coins

1. BTC quotes show 7,976.21 USDT on Binance, $7,954.40 on Bitfinex and $7,946.44 on Coinbase Pro;

2. CoinNess.com Market Index presents quotes for major cryptocurrencies besides BTC as following:

ETH marks $247.90 (-6.12%);

XRP marks $0.415 (-6.88%);

BCH marks $397.58 (-7.76%);

LTC marks $105.18 (-6.75%);

EOS marks $6.72 (-9.36%);

ETC marks $8.91 (-5.81%).

1. Developers of the Monero privacy coin have announced a new weapon in their battle against centralization. In collaboration with Arweave, a serverless storage protocol, the Monero Outreach team is validating a new, ASIC-resistant mining algorithm, dubbed RandomX.

Monero Outreach hopes that the new algorithm can help prevent the cryptocurrency from being dominated by a handful of mining giants. Unlike other privacy-protecting tokens like Zcash and Dash, Monero developers are committed keeping their coin GPU-mineable, thereby ensuring that anyone with a home computer can help secure the network.

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2. Daniel Larimer (BM), founder of EOS, just answered some questions about Voice in the Telegram group. When asked why USA was banned to use Voice, he claimed, "We have no conclusion on banning USA at this time. You are reading our legal docs which take the most conservative approach until we get clarity. Between now and launch we are hopeful to get approval for the USA.”
 

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$4.57 Mln For Lunch With Buffet, Justin Sun Aims To Brief Him Of Cryptos Within Last 10 Years

Justin Sun, founder of TRON, snatched headlines home and abroad again - only this time, he is not just known to crypto aficionados, but to an ocean of business people - for buying a charitable lunch with business magnate Warren Buffett with jar-dropping $4,567,888.

Justin Sun, a regular to controversy, accepted an interview of a Chinese top-tier news outlet, addressing his intentions for the bid. Dating back to the year of 2018, he developed such an idea in the context that Buffet is a stanch opponent for Bitcoin - he once called it “rat poison” on stage. However, Sun is not shy away and he attributed the leviathan’s negative stance on Bitcoin and cryptocurrency to “an absent advisor who actually understands cryptocurrency.”

The lunch to sit down with Buffet serves purposes for Sun to brief him about the exciting changes to the cryptocurrency industry in the past ten years, since the inception of Bitcoin, and - hold your breath -  to become Buffet’s “best friend” within the cryptocurrency sphere.

In response to media splash and community uproar of calling this $4.57 bid “a means to an end” to promote himself as he is notoriously known for, Sun denied the accusation.

As for his accompanies to have a lunch with Buffet, Sun claimed that the list is yet to finalize since the news is just off the pan. He indeed has his way of selecting ideal quartets - diverse as it can be - saying, “[I’d like to go with] mining rig manufacturers, crypto exchanges, and blockchain projects for instance. It’d be better if I enjoyed the accompany of a PoW- and a PoS-powered blockchain firm, respectively.”
 

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