Lorenzo Stroe
Independent Analyst
Here is what you need to know on Wednesday, June 10, 2020
BTC/USD exploded to $10,007 before quickly dropping to $9,800. Another attempt by the bulls to finally climb above the crucial $10,000 resistance point. Unfortunately, it seems that we are going to have to wait a little longer.
ETH/USD also had a significant price surge to $250 but failed and it’s now trading around $245.
XRP/USD is the weakest of all the top cryptocurrencies and only had a small bull break to $0.0238 and it’s now trading at $0.202.
For the most part, the crypto market has been flat today as well until the recently failed breakout. Kyber Network is again the number one gainer today with a 36% price surge followed by Aave with a 16% price increase. Zilliqa is also in our list again with a 16% price surge trading at $0.027.
Chart of the day: BTC/USD daily chart
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Market
Big news for the crypto sphere but especially for Ethereum and ERC-20 tokens as the ETH 2.0 Onyx Testnet was just launched. This upgrade is the last one before the actual Ethereum Mainnet and the swap to a Proof-of-Stake consensus mechanism.
More news coming from South Korea suggesting that merchants will be ok accepting digital yuan as a form of payment in the near future. According to several South Korean media outlets, merchants might start accepting digital payments to take advantage of the upcoming tourism once the Coronavirus finally disappears.
Industry
The Bank of Ghana is still looking to pilot its own digital currency. The BoG first announced its interest in digital currencies almost a year ago but has not started working on anything concrete just yet. According to the governor of the BoG, cryptocurrencies will most likely take over and mold the future of the banking experience.
Quote of the day
Crypto needs everyone from engineers to marketers to customer support
JP Richardson, CEO of Exodus.io
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