Crypto Today: Bitcoin bulls sitting just below breakthrough level of $7500

Here’s what you need to know on Thursday

Markets

BTC/USD is currently trading at $7280 (-0.15%), price action is comfortably consolidating above the $7000 price mark, next barrier eyed at $7500. 

ETH/USD is currently trading at $170 (-0.45%), resistance remains strong at the $170 mark. 

XRP/USD is currently trading at $0.19 (-0.20%), the bulls struggled to break and close above $0.2000. 

Among the 100 most important cryptocurrencies, the best of the day are BTG $9.88 (+16.80%), LINK $3.25 (+13.35%) SEELE $0.074959 (+13.15%) The day’s losers are CVT $0.034228 (-11.92%), SXP $0.682112 (-4.55%), SNX $0.737875 (-4.70%).

Chart of the day: XRP/USD daily chart

Market

Bitcoin Cash has experienced a halving event earlier on Thursday. The network reduced the rewards from 12.5 BCH to 6.25 BCH, something that could have a negative impact on the entire BCH blockchain.  As rewards fell after reaching block height 630,000, miners took almost two hours before they mined another block. This shows that many of the miners could have left the network due to the reduced rewards. 

The Cardano Foundation announced a partnership with the South African National Blockchain Alliance (SANBA). The partnership endeavors to explore further ways to strengthen technology’s adoption throughout South Africa. Cardano will use blockchain technology to boost socio-economic growth in South Africa. The Foundation believes such a partnership will help them to achieve their goal of increasing blockchain adoption across the region.

Industry 

ANSA, the leading news agency in Italy, wants to explore something new entirely. Their goal is to use a news tracking system based on the blockchain to ensure sources are reliable. This new solution, dubbed ANSAcheck, is built with the help of EY Advisory S.p.A. By leveraging the blockchain, readers can check the sources of news appearing on ANSA platforms.

Binance has fired back at claims that it ‘embezzled’ hundreds of thousands of dollars in funds that were frozen from a user’s account in November 2018. In a statement the exchange said the funds were frozen at the request of South Korean law enforcement agencies because the account holder had allegedly received 3,995 Ethereum (ETH) through a listing fee scam. Binance provided screenshots of correspondence with the Korean authorities to back up its claims.

South Korea’s largest public blockchain project, ICON (ICX), announced its new Loop Fault Tolerance 2.0 (LFT 2.0) consensus algorithm. The new algorithm claims to make performance improvements in scalability and network bandwidth over the popular Practical Byzantine Fault Tolerance (PBFT) consensus types, without compromising security.

Quote of the day

Bitcoin permabulls are always shilling because they actually have defensible fundamental arguments for why holding some #bitcoin is reasonable.

The permabears, on the other hand, only come out when the bitcoin price is crashing, because their arguments are just emotional drivel.

@pierre_rochard