Cryptocurrency Market News: PayPal already confirmed cryptocurrency rumors back in March, according to a recent report
Here is what you need to know on Tuesday, July 14, 2020
BTC/USD is still flat at $9,265 with bulls trying to climb above the daily EMAs. $9,500 remains as the most important resistance level in the short-term.
ETH/USD is far stronger and trading at $240.74. Ethereum price has outperformed Bitcoin price for the past two months. Ethereum bulls are still above the daily 12-EMA and closer to a bull breakout.
XRP/USD is also stronger and has defended the daily 12-EMA. XRP price is currently at $0.199, right below the $0.20 crucial level.
Cardano is again one of the best performing altcoins after a massive 6% price surge in hours. ChainLink is also on the list again with a 12% value spike and $1.7 billion volume. A name we haven’t seen in a long time is Ontology, which climbed to $0.77 after a 13% price change.
Chart of the day: ADA/USD 1-hour chart
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Market
The recent rumors about PayPal supporting or at least using blockchain technology for something were actually confirmed long before they even started. According to a recent report, PayPal already stated that it’s working on ‘cryptocurrency capabilities’ in a document submitted to the European Commission under published initiatives.
As such, PayPal is continuously monitoring and evaluating global developments in the crypto and blockchain/distributed ledger space
Binance Card will be launched in countries inside the European Economic Area supporting 4 cryptocurrencies initially. According to the official announcement, Binance Card will include Bitcoin, SXP, BNB and BUSD.
Industry
The DeFi craze continues as Orion Protocol just finished its last public sale of only $10,000 through a ‘gas war’ system. Essentially, anyone could participate and the allocation was based on a first-come, first-serve basis. One of the winners actually sent around $9,642 Ethereum using a fee of $1,147. The total amount received by the smart contract was around $700,000 in Ethereum for only a $10,000 sale which clearly shows the interest in DeFi remains strong.
Quote of the day
It’s money 2.0, a huge, huge, huge deal. – Chamath Palihapitiya
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.
