Cryptocurrency Market News: Blockchain startup claims it can undo Bitcoin transactions


Here is what you need to know on Tuesday, June 30, 2020

BTC/USD is trading around $9,200 recovering from a slight drop to $9,070. For the most part, Bitcoin has remained flat.

ETH/USD has experienced similar price action but the recovery was worse and it’s trading at $225 after the daily 12-EMA and the 26-EMA have crossed bearishly. 

XRP/USD is down 0.6% but holding $0.17 for now. The digital asset is in free-fall mode.

Molecular Future, an unknown cryptocurrency is ranked 143rd after a massive 1600% pump. Next on the list is Elrond with a 20% price increase today and $26 million in trading volume. Celsius is up 12% but almost 60% in the last seven days.

Chart of the day: MOF/USD daily chart 

mofusd

Market

According to Kirobo, a blockchain startup, Bitcoin sent to the wrong address can be canceled and retrieved. 

Until the right code has been provided by the recipient, the sender can retrieve the funds at any time [...] Kirobo does not hold the user’s private key and has no access whatsoever to the funds or their destination: the password simply governs whether the transfer is finalized or not

According to Max Keiser, Bitcoin could reach $500,000 thanks to a hash rate war between the US and Iran. Currently, Iran controls around 3% of Bitcoin’s global hash rate and Keiser thinks Venezuela can get up to 5%. 

And then at some point America will say, ‘We’ve got to enter the 21st century space race of mining Bitcoin,’ and then they’ll try to seek 20% of the hash rate, and then security goes up dramatically, and the price goes to $400,000, $500,000. — Max Keiser

Industry

DEX, a trading platform for cryptocurrencies has secured a Financial Services Permission (FSP) in the UAE. The platform will be able to offer accredited and retail investors the opportunity to buy virtual assets. 

DEX CEO Leon Smith said:

At DEX, our goal is to provide investors with a digital assets platform that delivers a best-in-class, fully regulated trading experience. For us, that means ensuring confidence through robust regulation, transparency, and security.

Quote of the day

I do think Bitcoin is the first [encrypted money] that has the potential to do something like change the world. – Peter Thiel, co-founder of PayPal

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

War for dominance hit the bedrock of the market

The cryptocurrency market reaches the end of the week with widespread declines in the crypto market. The week has been dominated by a boiling Altcoin segment that has set very significant rises.

More Bitcoin News

BCH/USD in retreat after gaining 7% in a matter of minutes

Bitcoin Cash (BCH) is still in a red zone on a day-to-day basis; however, the coin recovered strongly from the intraday low of $232.60 and hit $240.00 in a matter of minutes. At the time of writing, BCH/USD is changing hands at $237.00.

More Bitcoin Cash News

ADA/USD extends the decline, $0.1000 at risk

Cardano (ADA) extended the decline and hit $0.1102 on Friday. The coin has lost 20% from the peak of $0.1386 reached on July 8. At the time of writing, ADA/USD is changing hands at $0.1120, down 9% in the recent 24 hours.

More Cardano News

ETH/USD volatility ousted as DeFi skyrockets to $2 billion

Ethereum alongside the largest cryptocurrency, Bitcoin are dealing with a peculiar situation characterized by low trading volume, poor investor interest as well as the lack of catalysts.

More Ethereum News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC volatility drops to a year low, get ready for a spiral drive

The week was tough for the cryptocurrency markets confined to tight ranges. Bitcoin has lost 1% of its value during the recent seven days with the trading range limited by $9,298 on the upside and $8,933 on the downside.

Read the weekly forecast

BTC

ETH

XRP