Cryptocurrency Market News: Bitcoin and the rest of cryptos following the global stock market

Here is what you need to know on Monday, June 15, 2020

BTC/USD is trading at $9,400 after a significant recovery from $8,900 today. There has been a significant shift in momentum today for Bitcoin as bulls are back in town and pushing towards $9,500.

ETH/USD has also formed a daily bullish reversal candlestick after a drop to $218. Ethereum is currently trading at $232 and it's looking to close above the daily 26-EMA at $229.

XPR/USD is in similar shape but remains the weakest of the three names overall. Bulls desperately need to climb above $0.20 and remain there. The daily EMA's are still far away.

The biggest gainer today is Verge by far with a 20% price increase over the last 24 hours and a trading volume of $57 million. Second in the list is SC with a 16% price surge and a 31% total surge over the past week. REN has also seen a significant bull move today going to $0.11 with a 15% increase. 

Chart of the day: BTC/USD daily chart

Market

WhatsApp, the most popular messenger application in the world has recently announced a service for digital payments through WhatsApp. The service is already available in Brazil but will most likely be extended to other countries in the near future. Users will need a special PIN code or their fingerprint in order to avoid non-authorized operations.

The service will be available using a credit card like Visa or Mastercard and Cielo, the leader in payment services in Brazil. 

An important Turkish real estate firm has also announced the implementation of digital payments in the form of Bitcoin. Users are now able to pay for properties using Bitcoin but the platform also facilitates payments in other cryptocurrencies like USDT, XRP, and others.

This is certainly not the first time Bitcoin is used in real estate. The idea behind using Bitcoin and other cryptocurrencies is that it could save a lot of money thanks to the low fees of transactions and can even prevent fraud. 

Industry

Paxful, one of the most popular p2p marketplaces has announced a partnership with OKEx, a derivatives exchange. The idea behind the integration is that Paxful users will have access to OKEx trading options like spot, margin, and even futures. According to the company, the new integration should help both companies to extend their services to other countries. 

Through this partnership, we can reach more users in developing regions using Paxful’s existing infrastructure and payment options and give them exposure to the benefits of OKEx’s advanced technology and diversified product suite. - said Jay Hao, CEO of OKEx.

Quote of the day

Blockchain is the tech. Bitcoin is merely the first mainstream manifestation of its potential.

Marc Kenigsberg