Lorenzo Stroe
Independent Analyst
Here is what you need to know on Thursday 10, September.
BTC/USD is currently trading at $10,305 after defending the $10,000 level again. Bulls have already defended this level for a week straight and whales are already moving significant quantities of cryptocurrencies around.
ETH/USD is bouncing after a 6% price increase in the past 24 hours and looking at the daily 50-MA at $365 as the next potential resistance level.
XRP/USD is bouncing from the 200-MA but getting rejected at the 100-MA. The cross-border cryptocurrency is currently trading at $0.241.
Chart of the day: BTC/USD daily chart
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Market
Several whales have moved huge quantities of Bitcoin from 1,000 coins to the biggest at 3,001 Bitcoin, around $30 million from OKEx to an unknown wallet. A colossal whale moved 216,016 ETH from an unknown wallet to another wallet, worth around $76 million. It’s clear that whales are moving coins around, perhaps getting ready for the crypto market bottom, to buy the dip or for the next leg down.
3,001 #BTC (30,399,383 USD) transferred from #OKEx to unknown wallet
— Whale Alert (@whale_alert) September 7, 2020
Tx: https://t.co/UJyrqZTMZX
Industry
Huobi, one of the biggest exchanges by volume has announced the launch of a new savings product to compete with DeFi yield platforms. To incentivize new users to join the platform, Huobi is giving out accounts with annualized returns of 88% for the first week and will distribute 30,000 USDT among users.
DCG, a blockchain investment firm has just acquired Luno, a crypto exchange with over 5 million existing customers in around 40 countries.
We have invested in many retail businesses all over the world – including nearly two dozen exchanges, said Mark Murphy, DCG’s chief operating officer. But this is the first subsidiary that is a wallet and an exchange, which of course have large numbers of retail investors.
Quote of the day
This [Bitcoin] may be the purest form of democracy the world has ever known, and I — for one — am thrilled to be here to watch it unfold.
– Paco Ahlgren
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