Here’s what you need to know on
Markets:
BTC/USD is currently trading at $9,340 (+3.9% on a day-to-day basis). The coin has hit an intraday high above $9,400 amid strong bullish trend.
The ETH/USD pair is currently trading at $177.75 (+3.7% on a day-to-day basis). The Ethereum retreated from the intraday high of $177.6; now, it is moving within a short-term bullish trend amid shrinking volatility.
XRP/USD tested $0.2400 and settled at $0.22380 by the time of writing. The coin is up 3.45% in recent 24 hours.
Among the 100 most important cryptocurrencies, the best of the day are BlockStamp (BST) $1.57 (+99.57%), KickToken (KICK) $0.00007 (+30.16%) and Quant (QNT) $4.64 (+16.5%) The day’s losers are, Centrality (CENNZ) $0.0743 (-13.5%), Molecular Future (MOF) $1.5 (-8.42%) and ABBC Coin (ABBC) $0.0938 (-3.92%).
Chart of the day:
XRP/USD, 1-hour chart
Market:
The cryptocurrency market has slowed down after a sharp recovery at the beginning of the week. Bitcoin resumed the recovery again, while major altcoins are mostly directionless. Cardano (ADA) remains the best-performing asset out of top-20 with over 10% of gains in recent 24 hours. Bitcoin SV (BSV) is the biggest loser, down nearly 8% on a day-to-day basis.
According to the GTI Vera Band indicator, Bitcoin is overbought and bound for a retracement. The price of the first digital currency is above the upper limit, which is a positive signal; it indicates that an upward trend is in place; however, a strong move outside the Band is usually followed by a technical correction. If this is the case, BTC/USD may retest $8,500.
Industry:
By the order of London’s High Court, the cryptocurrency exchange Bitfinex froze 96 BTC (about $860 000), which belonged to hackers who had used ransomware. The company attacked by the hackers paid them 109.25 BTC (about $950 000). part of this amount was converted to fiat and thus became untraceable, while the rest of the amount was sent to Bitfinex account, according to Chainalysis.
Bitfinex said in a written statement:
In this case we have assisted the claimant to trace the stolen bitcoin and we understand the focus of the claimant’s attention is no longer on the Bitfinex platform. It now appears Bitfinex is an entirely innocent party mixed up in this wrongdoing.
Nimbus developers received the third grant from Ethereum Foundation in the amount of $650,000. The money will be used to finance Ethereum 2.0 development. The team plans to hire new software engineers and thus broaden the scope of work.
The official press-release says:
The grant will enable the team to continue development of a client implementation for Ethereum 2.0 designed to perform well on embedded systems and personal mobile devices, including older smartphones with resource-restricted hardware.
Binance announced that it would low withdrawal fees for BTC, ETH and ERC20 tokens to improve user experience. Now the exchange customers will have to pay 0.0004 BTC for BTC wirdrawal and 0.003 ETH for ETH withdrawal from 0.0005 BTC and 0.01 ETH respectively/
Regulation:
Fintech startup Ripple and cryptocurrency exchange Coinbase joined forces to push for crypto regulation and adoption in the US. The companies are making efforts to increase regulatory clarity in the industry in hopes that it will drive the cryptocurrency adoption in the country. While the regulators all over the world start developing rules and frameworks to embrace new technology and regulate the space, the US seems to lag behind. Coinbase and Ripple want to change this. Rachel Nelson, the Senior director and associate general counsel at Coinbase and Breanne Madigan, the head of global institutional markets at Ripple, said in a joined statement that they wished to improve the integrity of the industry and provide cryptocurrency users with the confidence they deserve.
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