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Cryptocurrency Market News: Bitcoin and the rest of cryptos continue trading sideways

Lorenzo Stroe Independent Analyst

Here is what you need to know on Monday, June 8, 2020

BTC/USD is trading sideways, fighting to stay above $9,700 after opening at $9,746. The trading volume continues declining while Bitcoin’s dominance has remained pretty stable at 64.5%.

ETH/USD is basically following Bitcoin’s step, and it’s also trading sideways, currently at $242.39.

XRP/USD is trading at $0.2019, continuously fighting for the $0.20 level while trying to defend the daily 12-EMA.

The market hasn’t moved a lot today, but some cryptos have seen a significant boost. Aion, with a 9.8% increase, takes the first spot today, followed by WAX at 9.61% and Blockstack with a 9% price surge.

Chart of the day: ZIL/USD daily chart

Market

Good news for the entire crypto market as Binance and Coinmarketcap are ranked 22nd and 23rd respectively on Similarweb’s list of the best investment websites. Similarweb ranks more than 80 million sites internationally and has put Binance in the top 22 while Blockchain.com is ranked 44th.

More good news for crypto after a recent report showing the monthly trading volume of crypto derivatives is increasing. According to the report, the volume surged by more than 30% in May and seems to be going up this month as well.

Industry

Huge news today for gamers and gaming-related crypto projects as ‘PlayDapp,’ a popular Korean Blockchain gaming company, has launched a marketplace for NFTs. Korea’s gaming industry is one of the biggest, and the new marketplace should help Non-Fungible Tokens to thrive.

ForumPay is now offering a crypto and fiat interchangeable payment platform. The provider based in Malta says that it will provide users with instant payments as well as exchanging crypto to fiat and vice versa.

Quote of the day

We’re going to reinvent the concept of money and take it out of the government’s hands and control it ourselves.

Charles Hoskinson, Founder of Cardano.

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.

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