Lorenzo Stroe
Independent Analyst
Here is what you need to know on Tuesday, June 23, 2020
BTC/USD is trading at $9,650 after a 4% price surge yesterday. The daily chart is painting a bull flag that could see continuation within the next few days.
ETH/USD is a bit stronger than Bitcoin at $244 and also a daily bull flag. The resistance level at $250 remains as the crucial point to crack.
XRP/USD can’t seem to climb above $0.19 just yet and will face the daily 12-EMA at $0.191 as well.
Bancor is the biggest winner today with a 23% price increase followed by Zcash which touched $60. The next in line is Chainlink with a 10% bull move and $500 million in trading volume.
Chart of the day: BNT/USD
Market
Rumors about PayPal and Venmo integrating crypto payments continue but neither side has made any official comments just yet. It is clear that the recent bullish action in the market was fueled by the rumors. It has been confirmed that PayPal is hiring crypto engineers but the reason behind it, it’s unknown.
China continues with its plans to roll out of the digital yuan and seems to have completed a backend infrastructure for it. The CBDC (China’s Central Bank Digital Currency) is still in the ‘beta’ or testing phase but it’s moving forward fast. At the same time, China’s blockchain service announced the integration of ChainLink oracles into its system.
We looked at the top four, on the list, Chainlink was not number one. They were the second one. But we saw that Chainlink has the best community, best support. [...] Also, we really liked the team.
Industry
ING Bank has announced that it’s developing a protocol for tracking cryptocurrency transactions. The idea behind the protocol is to assist with the Financial Action Task Forces Travel Rule requirements for cryptocurrency exchanges.
With a regulatory first approach, we are actively involved in different working groups to support standardization of this emerging ecosystem and ultimately pioneer mass adoption
Quote of the day
Whenever the price of cryptocurrency is rallying, people start spending a lot more
Erik Voorhees
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Shiba Inu could recover as it finds support around key level
Shiba Inu (SHIB) price hovers around $0.000021 on Tuesday after retesting and bouncing off from key support the previous day. Sideline investors looking to accumulate SHIB can do so at support levels from $0.000019 to $0.000021.
Bitcoin recovers after retesting $90K support
Bitcoin’s price recovers and trades at around $95,500 on Tuesday after dipping below $90,000 the previous day. The recent downturn at the start of the week has liquidated over $734 million in total liquidations, more than $152 million specifically in BTC.
Monero bulls remain strong, eyes double-digit gains
Monero price trades in the green, around $204.92 on Tuesday after holding its ascending trendline support the previous day. The technical outlook suggests a reversal ahead as XMR’s MACD indicator shows a bullish signal.
XRP sees high buying pressure as lawyer weighs in on SEC's appeal against Ripple
XRP's strong resilience against the wider crypto market decline was strengthened by increased buying activity across retail and institutional investors. SEC's delay in filing opening brief in appeal over Ripple vs SEC ruling is a normal occurrence in litigation processes.
Bitcoin: Room for a recovery or continuation of the pullback?
Bitcoin’s price slightly recovers and trades around $94,700 on Friday after declining nearly 6% earlier this week. US Bitcoin spot Exchange Traded Funds data shows signs of mild recovery, with a total net inflow of $462.2 million until Thursday.
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