Cryptocurrency Market News: Vodafone and others are using Blockchain, Bitcoin is trying to hold $9,200

Here is what you need to know on Monday, July 13, 2020

BTC/USD experienced a slight pullback today from $9,300 towards $9,200 but has managed to defend the level.

XRP/USD had a horrible drop of around 4% within 30 minutes going from $0.20 to $0.192.

ETH/USD also had a decent drop towards $237 but it’s currently trying to recover above $240.

Aurora is by far the biggest gainer today with a 300% price increase that was sustained. In fact, AOA had almost a 1,000% surge but dropped significantly. Following closely is Divi at $0.07 with a 41% price boost. 

Chart of the day: AOA/USD 5-minute chart

Market

Cashaa, a cryptocurrency exchange located in London was hacked and lost around $3.1 million in Bitcoins. According to an official report from the exchange, the hacker or hackers attacked a wallet used to store Bitcoin, it was not a cold storage wallet, just a regular Blockchain.com wallet. 

Compound, the most popular DeFi project in recent weeks has hit $1 billion in crypto loans today. The cryptocurrency started extremely strong hitting a price of $356 in days and getting immediately listed on Coinbase and FTX. It also reached a $912 million market cap but has dropped significantly to $421 million now and a price of $164. 

Industry

Vodafone and two other global leaders in telecommunications, Telefonica and Telekom, are just finishing a test using blockchain technology for the settlement of roaming discount agreements. Johannes Optiz, the vice president of commercial roaming services at Telekom said:

Roaming discount agreement reconciliation is a complex, costly process prone to errors [...] Using Clear’s solution, operators will now have the ability to transact seamlessly with an ecosystem of partners — a crucial ability in the 5G and Edge ecosystem, in which we foresee significant growth of operators’ business relationships and business models.

Quote of the day

Understanding block-chain makes you go mad, unless you start your own cult

― Arif Naseem