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Cryptocurrency Market News: Ethereum bounces 7% to $245, Bitcoin climbs to $9,500

Lorenzo Stroe Independent Analyst

Here is what you need to know on Monday, June 22, 2020

BTC/USD had a significant bounce today climbing above $9,600 and trading at $9,555 after a brief pullback. Bulls couldn’t hold BTC above $9,589 to confirm a daily uptrend.

ETH/USD is the biggest gainer among the top cryptos today with a 7% surge. ETH broke $245 and it’s trading at $242.56 at the time of writing.

XPR/USD remains really weak and only trading at $0.188. The daily 12-EMA will act as a resistance level if the bull move continues.

The biggest gainer in the past 24 hours is DigiByte with a 23% bull move to $0.02 and almost $50 million trading volume thanks to the listing on Binance. SwissBorg, up more than 1,000% in 2020 is second with a 14.5% price increase today. Celsius is also up 14% after a steady climb in the past seven days.

Chart of the day: ETH/USD daily chart

Market

ByBit, a popular cryptocurrency exchange is now supporting over 20 fiat currencies.

Thanks to our payment partners Banxa and XanPool, Bybit users can now frictionlessly purchase crypto with credit or debit card. - said Ben Zhou, CEO of ByBit.

Ebang, a Chinese Bitcoin mining machine manufacturer is getting listed on NASDAQ on June 26. The report states that it will be officially listed at 9:30 PM with a fundraising scale of $86.94 million and up to $125 million.

Recent statistics are showing that people are withdrawing their Bitcoin from exchanges. In fact, Bitcoin whales, investors that hold over 10 Bitcoin are also withdrawing coins from exchanges. This is one of the most important long-term metrics and can affect the entire crypto market in the near future.

Industry

According to Coindesk Paypal is planning to launch direct sales of crypto to all its users. The story doesn’t state how many cryptocurrencies will be available or which ones will be supported but seems to be confirmed by three different sources.

Quote of the day

Bitcoin is the most stellar and most useful system of mutual trust ever devised

― Santosh Kalwar

Author

Lorenzo Stroe

Independent Analyst

Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.

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