Cryptocurrency Market News: Twitter users can send Bitcoin and crypto to each other thanks to a new service


Here is what you need to know on Tuesday, July 7, 2020

BTC/USD is under consolidation after a move towards $9,400 on July 6. Bulls are trying to defend the daily 26-EMA at $9,265.

ETH/USD is doing the same but remains far stronger with both daily EMAs crossing bullishly. The daily MACD has also crossed positively and buyers are still eying up $250 next.

XRP/USD has dropped the most today after having a slightly better move on July 6. The resistance level at $0.19 is still the most crucial for now.

Seele-N is one of the biggest gainers ever with a 46% price surge in less than 24 hours, climbing to rank 142nd. Next is Flexacoin which is up 17% and almost 50% in the past seven days. Cardano takes spot three with a 15% price increase following its recent bull rally.

Chart of the day: SXP/USD daily chart

sxpusd

Market

Crypto exchanges have seen a significant decrease in trading volume in the past month. According to the most recent statistics, spot exchanges have seen a decline of 36% in June just like crypto derivatives, going to a 2020-low of $393 billion. Overall trading volumes have been going down mostly because the market has been flat for the past two months.

After announcing the partnership with Swipe, Binance has actually just acquired the platform for an undisclosed sum of money. The price of Swipe (SXP) exploded once more but hasn’t been able to breach the last high after the initial announcement. 

Changpeng Zhao, CEO of Binance commented:

To achieve our mission of making crypto more accessible to the masses, off-ramps are a key component as well. By giving users the ability to convert and spend crypto directly, and have merchants still seamlessly accept fiat, this will make the crypto experience much better for everyone

Industry

Torus has recently announced a new service that allows users to interact with Blockchains through Twitter, AppleID, GitHub, Line, and Linkedin. According to the announcement, users can basically send tokens to any Twitter user even if they don’t have a Torus wallet. 

Much of the crypto community resides on Twitter, and we are excited to provide the functionality of using those accounts for various use cases. These include simple sends, but also potentially more complex cases such as sybil resistance/quadratic funding.

Quote of the day

You can’t stop things like Bitcoin. It will be everywhere and the world will have to readjust. World governments will have to readjust. - John McAfee

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

Bitcoin Price Forecast: BTC whales plotting a bullish attack

Bitcoin (BTC) is changing hands at $10,750, mostly unchanged since the start of the day. The cryptocurrency attempted a recovery to $11,000 on Monday but was thrown back inside the range by aggressive short-term sellers.

More Bitcoin News

Top 3 Gainers: OMG, SXP, and STORJ explode 70% and are eying up more gains

The entire cryptocurrency market is bouncing back up, strongly gaining more than $28 billion in market capitalization over the past week. Some of the biggest gainers include OMG, SXP, and STORJ. 

More Cryptocurrencies News

LINK goes through consolidation, preps for a breakout

LINK broke above the downward trending line this Thursday and is currently trending horizontally between the $10 support line and the SMA 20 curve.

More ChainLink news

Bitcoin's mass adoption passes the point of no return

Bitcoin was created in response to the Financial crisis of 2008 and developed within a narrow circle of computer geeks, coders, and libertarians fixated on personal freedom, anonymity, and independence from all sorts of authorities. 

More Bitcoin News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: Keep calm and HODL on until the USA elects the president

Bitcoin (BTC) partially regained the losses incurred at the beginning of the week; however, the upside momentum is still too weak to take the price out of the bearish territory and ensure a sustainable recovery. 

Read the weekly forecast

BTC

ETH

XRP