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Cryptocurrency Market News: Ethereum dips below $230, XRP drops to $0.188

Lorenzo Stroe Independent Analyst

Here is what you need to know on Friday, June 19, 2020

BTC/USD has slipped below $9,300 today but recovered and it’s trading at $9,340. The weakness of the bulls is obvious and the daily downtrend is still in play.

ETH/USD is trading at $229 after another red day, losing the daily 26-EMA. There is not a lot of support for Ethereum on the way down to $220.

XRP/USD weakness continues as the digital asset crashed below $0.19 and it’s trading at $0.187.

Not all coins suffered today, Compound (COMP), released for trading only two days ago is up 42% today and more than 200% in total. It is already ranked 24th by market capitalization. Following COMP, we have SNX with 24% gains and Aave with a 16% price surge in the last 24 hours.

The biggest losers today were Seele-N with a 16% price drop and ABBC Coin, down 15%.

Chart of the day: COMP/USD 30-minutes

Market

The global stock market continues underperforming even after the announced stimulus of the Federal Reserve. The correlation between the stock market and Bitcoin is still very present.

The Bank of Thailand continued with its plans to launch a project pilot. It finally launched a pilot test of its CBDC payment system with Siam Cement Group. It is confirmed to start in July 2020 and will test whether the payment system is more efficient and overall better than traditional payment methods.

KuCoin is now supporting payments with RUB through a new partnership with PayMir. Russia has many crypto enthusiasts and the number continues to grow every day.

Industry

Freewallet has recently partnered with Changelly to offer transactions that can be confirmed in under three minutes. According to the platform, users will benefit from lower costs with more anonymity.

We’ve been working with Changelly for a long time. Our successful experience together and mutual trust have allowed us to integrate off-chain exchanges into Freewallet and thereby further advance in our goal of providing the best service possible to our over three million users.

said Solomon Brown, head of PR for Freewallet.

Quote of the day

It’s gold for nerds.

Stephan Colbert

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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