Lorenzo Stroe
Independent Analyst
Here is what you need to know on Thursday, July 16
BTC/USD is still trading around $9,200 after another flat day. Volatility continues to drop and it’s now at its fifth-lowest level ever by its 60-day volatility rate.
ETH/USD lost ground in comparison to Bitcoin and others and has lost the daily 12-EMA but still has time to recover above it.
XRP/USD remains stronger even though it’s also slowly dropping. Bulls are keeping XRP price above $0.19 for now.
Bitcoin price might be flat, however, altcoins are soaring. ChainLink continues climbing the ladder and it’s ranked 8th already after another boost today towards $8.51. Aave is also surging with an 18% price increase hitting $0.26 and a $347 million market capitalization. Surprisingly, Elrond has hit another all-time high at $0.0165.
Chart of the day: XLM/USD 1-hour chart
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Market
According to a recent report by Grayscale, one of the largest crypto-trust funds, it has raised a total of $906 million for crypto-related products. Grayscale is known for continuously buying massive amounts of Bitcoin and Ethereum, it already raised $500 million in the first quarter of 2020 and a total of $1.4 billion during 2020. It seems that the majority of investments came from institutional investors.
The Stellar Foundation has revealed that Samsung will support the Stellar Blockchain by integrating it into its Blockchain Keystore. This adherence allows users to store Stellar private keys in a secure environment inside Samsung’s devices.
The announcement made Stellar jump to $0.098 within hours getting a massive 13% price boost. It has cooled off a bit now trading at $0.092.
Industry
Revolut is partnering up with Paxos to launch a new crypto-trading service in the United States. According to the announcement, Revolut will use Paxos Crypto Brokerage service and will provide the ability to buy and hold cryptos directly to its customers.
Charles Cascarilla, CEO and Co-Founder of Paxos, commented:
The digital asset revolution has started and more and more companies like Revolut see it coming. With Paxos Crypto Brokerage, companies can leverage our expertise and regulatory compliance to easily and securely integrate crypto into their applications. We’re proud to offer financial market infrastructure that supports an open, digital financial future.
Quote of the day
Bitcoin actually has the balance and incentives center, and that is why it is starting to take off. – Julian Assange
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