Crypto Today: Jumping back to take a run-up

Tomas Salles FXStreet

Here's what you need to know on Friday:

Markets:

XRP/USD continues to suffer from strong sales, ignoring positive news about new support for the utility of Blockchain technology. At the time of writing Ripple’s token pierces down the SMA200.

Technical analysis indicates that the Altcoin season is about to signal the start of a new upside leg.

BTC/USD is shaky at around the $9,000 level. In the event of drilling down the critical moving average, a new scenario would include the $7,600 level as a bearish target.

Chart of the day:

LTC/USD

Industry:

The German Banking Association, a lobby grouping the German banking industry, is demanding the development of a digital programmable version of the euro. It is necessary to study the use cases and the risks of a possible loss of capacity of the central banks to manage the economic cycles.

Ripple Ltd. launches RippleNet Home, a tool that allows RippleNet users absolute control and transparency over their person-to-person transactions.

Binance reaches an agreement to assist the Digital Transformation Ministry of Ukraine in the development of a Blockchain ecosystem.

Standard Chartered, a world leader in the banking industry, joins hundreds of other leading banks in the Enterprise Ethereum Alliance. The EEA's mission is the harmonization at the enterprise level of criteria to ensure the interoperability of Ethereum projects.

Regulation:

- China confirms that the Bitcoin mining industry is off the list of activities banned by the government.

Quote of the day:

-TheTokenAnalyst:

We recently plotted the flow of Bitcoin *between* wallets in different exchanges.

Some interesting insights

1)Huobi wallets sent the most $BTC to Binance wallets in 2019

- Total of 259K BTC was sent

- Total # of txns: 48K

- Avg txn value: 5.4 BTC.

2) But also on the flip side, the second-largest exchange 'interflow' in 2019 was the inverse, i.e Binance to Huobi

- Total of 137K BTC was sent

- Total # of txns: 44k

- Avg txn value: 3.1 BTC

Author

Tomas Salles

FXStreet

Tomàs Sallés was born in Barcelona in 1972, he is a certified technical analyst after having completing specialized courses in Spain and Switzerland.

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Crypto Today: Jumping back to take a run-up