Lorenzo Stroe
Independent Analyst
Here is what you need to know on Friday, 24 July
BTC/USD had a minor breakout today following ETH and hit $9,664 on Binance but couldn’t sustain the move and has dropped below $9,600 already.
ETH/USD is the clear winner today and it’s showing a lot of dominance over the rest of coins. Ethereum is experiencing a significant increase in trading volume and has peaked at $280 after another 5% leg up.
XRP/USD struggles to climb above $0.21 but is getting more trading volume.
The biggest gainer in the last 24 hours is Flexacoin followed by Kusama with a 30% price surge hitting $12.56 and climbing above rank 150th by market capitalization. Ampleforth is consolidating and down 20% after a massive bull run the past few weeks.
Chart of the day: ETH/USD 1-hour chart
Market
Following the last article, it seems that more people are suing platforms over cryptocurrencies. Steve Wozniak, co-founder of Apple just sued Youtube over various crypto scams that were using his image. The lawsuit was announced by Cotchett Pitre & McCarthy LLP, a law firm. In the report, Wozniak alleges that Bitcoin giveaway scams are using images of him and others and Youtube and Google are ignoring the repeated requests of taking the videos down.
Schodeon, a top Ethereum 2.0 developer has stated that we will see the update before the end of 2020.
The Ethereum 2.0 beacon chain will launch in November unless we find severe bugs in clients or protocol. I’m in-between Vitalk and Justin with my estimation here, I don’t think that we necessarily need to delay Ethereum 2.0 into 2021 unless we find critical issues. We are well on track for a late 2020 launch
Industry
According to CoinDesk, domain registrars will make use of Gemini’s custody services when purchasing .crypto addresses. Gemini is a cryptocurrency exchange founded by the Winklevoss twins in 2014.
Gemini is always excited to support new uses for cryptocurrency and to bring more people into the crypto ecosystem. By providing readable ERC-721 domains that allow for both digital asset payments and uncensorable websites, Unstoppable Domains have brought another use case for NFTs beyond crypto collectibles. We think there's a big opportunity for custody providers to support this asset class, and we're proud to be the first licensed exchange and custodian to offer such a service," added Kristen Mirabella, Principal at Gemini.
Quote of the day
Bitcoin is Cash with Wings
– Charlie Shrem
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Google, Apple could remove Binance from their app store on Philippines SEC request
The Philippines SEC has requested Google and Apple to remove applications controlled by Binance from their App stores. The exchange’s Philippines-based users are finding the exchange inaccessible to remove their funds.
XRP rallies as Ripple slams SEC for penalties, asks regulator to establish likelihood of future violations
Ripple filed its response to the SEC lawsuit on Monday, arguing that XRP institutional sales before and after the court ruling show no disregard for the law. The firm asks for a civil penalty of no more than $10 million against the $2 billion requested by the SEC.
Here’s why Ondo price hit new ATH amid bearish market outlook Premium
Ondo price shows no signs of slowing down after setting up an all-time high (ATH) at $1.05 on March 31. This development is likely to be followed by a correction and ATH but not necessarily in that order.
PENDLE price soars 10% after Arthur Hayes’ optimism on Pendle derivative exchange
Pendle price is among the top performers in the cryptocurrency market today, posting double-digit gains. Its peers in the altcoin space are not as forthcoming even as the market enjoys bullish sentiment inspired by Bitcoin (BTC) price.
Bitcoin: BTC post-halving rally could be partially priced in Premium
Bitcoin (BTC) price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?