Crypto Today: Bitcoin could be heading for a $7000 return

Here's what you need to know on Friday

Markets

BTC/USD is currently trading at $8911 (-3.80%), the bears now flirting with $8500 to the downside, a breach could open the door for a fast $7000 return.

ETH/USD is currently trading at $223 (-5.20%), there is a growing risk of $200 being breached. 

XRP/USD is currently trading at $0.2341 (-4.50%), the price remains vulnerable underneath $0.2500, with the risk of $0.2000 being retested by the bears. 

Among the 100 most important cryptocurrencies, the best of the day are LRC $0.041916 (+9.55%), HT $4.63 (+8.49%) SXP $1.06 (+4.15%) The day's losers are MOF $0.845544 (-11.42%), GNT $0.053216 (-10.30%), DX $0.001622 (-10.25%).

Chart of the day: XRP/USD daily chart (A critical secondary trend line of support has prevented the price from free-fall. 

Market

Ethereum Classic Labs, the team in charge of Ethereum Classic (ETC), has joined forces with Chainlink (LINK), a blockchain-powered decentralized oracle network that makes it possible for smart contracts to access off-chain data feeds, web application programming interfaces (APIs) and more, in a secure manner. The partnership will see the integration of decentralized oracles into the Ethereum Classic network, enabling it to interact with off-chain services, according to a blog post on February 27, 2020.

The federal district court in the United States have decided to give the green light to a lawsuit claiming that XRP is an unregistered security from Ripple.

The Litecoin Foundation announced a partnership with MeconCash to roll-out Litecoin (LTC) to Korean won withdrawals and remittances from 13,000 ATMs in South Korea. The partnership will see LTC integrated onto MeconCash’s M.Pay payments platform. Litecoin will also be accepted as payment on MeconCash’s retail platform MeconMall, and to pay for games that accept M.Pay rewards.

Regulation

The federal district court in the United States have decided to give the green light to a lawsuit claiming that XRP is an unregistered security from Ripple.

Industry 

Japanese messaging giant Line has shuttered its Singapore-based crypto exchange and relaunched it as a global, rebranded United States-based platform.

Cryptocurrency exchanges OKEx and Bitfinex are suffering multiple denial of service attacks. It is unclear as of now if the attacks are connected, though OKEx CEO blamed competitors on his personal Weibo page.

Human resources firm Ranstad, which recently became global leader in the sector, has chosen to further automate its workflow using a smart contracts-focused blockchain. The firm’s 40,000 employees will be using an enterprise blockchain solution from New York-based Cypherium, which has struck partnerships with major cloud providers Google Cloud Wing, IBM Cloud, and Amazon Web Services.

Ripple’s partner, SBI Remit will closely work with Fukushima Bank, which is one of the major Japanese financial institutions, to enable the fast transfer of money. SBI Remit, a partner of Ripple which uses its RippleNet, announced that it will partner with one of the largest banks in Japan Fukushima Bank. The partnership will see Fukushima Bank responsible for handling all SBI international remittance services.

Quote of the day

Where I live the entire yieldcurve is negative: 1Y interest rate, 5Y, 10Y, 30Y all below zero. Soon in US too. This is a problem because banks already charge negative rates on savings accounts. Also, pension funds have trouble making enough return. Bitcoin could be the solution.

@100trillionUSD