Crypto Today: Bitcoin bulls sitting just below breakthrough level of $7500


Here's what you need to know on Thursday

Markets

BTC/USD is currently trading at $7280 (-0.15%), price action is comfortably consolidating above the $7000 price mark, next barrier eyed at $7500. 

ETH/USD is currently trading at $170 (-0.45%), resistance remains strong at the $170 mark. 

XRP/USD is currently trading at $0.19 (-0.20%), the bulls struggled to break and close above $0.2000. 

Among the 100 most important cryptocurrencies, the best of the day are BTG $9.88 (+16.80%), LINK $3.25 (+13.35%) SEELE $0.074959 (+13.15%) The day's losers are CVT $0.034228 (-11.92%), SXP $0.682112 (-4.55%), SNX $0.737875 (-4.70%).

Chart of the day: XRP/USD daily chart

Market

Bitcoin Cash has experienced a halving event earlier on Thursday. The network reduced the rewards from 12.5 BCH to 6.25 BCH, something that could have a negative impact on the entire BCH blockchain.  As rewards fell after reaching block height 630,000, miners took almost two hours before they mined another block. This shows that many of the miners could have left the network due to the reduced rewards. 

The Cardano Foundation announced a partnership with the South African National Blockchain Alliance (SANBA). The partnership endeavors to explore further ways to strengthen technology’s adoption throughout South Africa. Cardano will use blockchain technology to boost socio-economic growth in South Africa. The Foundation believes such a partnership will help them to achieve their goal of increasing blockchain adoption across the region.

Industry 

ANSA, the leading news agency in Italy, wants to explore something new entirely. Their goal is to use a news tracking system based on the blockchain to ensure sources are reliable. This new solution, dubbed ANSAcheck, is built with the help of EY Advisory S.p.A. By leveraging the blockchain, readers can check the sources of news appearing on ANSA platforms.

Binance has fired back at claims that it ‘embezzled’ hundreds of thousands of dollars in funds that were frozen from a user’s account in November 2018. In a statement the exchange said the funds were frozen at the request of South Korean law enforcement agencies because the account holder had allegedly received 3,995 Ethereum (ETH) through a listing fee scam. Binance provided screenshots of correspondence with the Korean authorities to back up its claims.

South Korea’s largest public blockchain project, ICON (ICX), announced its new Loop Fault Tolerance 2.0 (LFT 2.0) consensus algorithm. The new algorithm claims to make performance improvements in scalability and network bandwidth over the popular Practical Byzantine Fault Tolerance (PBFT) consensus types, without compromising security.

Quote of the day

Bitcoin permabulls are always shilling because they actually have defensible fundamental arguments for why holding some #bitcoin is reasonable.

The permabears, on the other hand, only come out when the bitcoin price is crashing, because their arguments are just emotional drivel.

@pierre_rochard















 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Pointing beyond the Moon

The sensations are very positive from a technical point of view. There are several signs that we may be facing the expected bullish market after the Bitcoin halving.

More Bitcoin News

XRP/USD may return to $0.2000 before another bullish wave

Ripple’s XRP settled above $0.2000, which is a positive signal for the coin in the short run; however, the further upside momentum seems to be limited for now.

More Ripple News

Ethereum Chart Update: ETH/USD is fine as long as it stays above daily SMA50

Ethereum (ETH) has been moving inside a range limited by $230.00 on the downside and $240.00 on the upside since Sunday. The coin tested lows at $224/62; however, the sell-off attracted new short-term buyers that pushed the price back above $230.00.

More Ethereum News

ETC/USD recovers from the hardfork-induced sell-off

An essential hardfork Phoenix was activated on the Etehreum Classic blockchain at block 10,500,839. The fork happened on May 31, 2020, ten days earlier than it was previously expected.

More Ethereum Classic News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC/USD bulls fight for every inch of the ground on their way to $10,000

After a sharp sell-off at the beginning of the week, BTC/USD climbed back above $9,000 and made its way above another important resistance $9,300.

Read the weekly forecast

BTC

ETH

XRP