Cryptocurrency Market News: Biggest crypto trading competition with a 200 Bitcoin prize pool to be launched by ByBit

Here is what you need to know on Monday, July 6, 2020

BTC/USD is seeing significant bullish action climbing above $9,300 and the daily 12-EMA and the 26-EMA, establishing a daily uptrend for the first time since June 1.

ETH/USD is up 5% blasting through $230 and hitting a high of $240.77 on Binance. Bulls have also established a daily uptrend with a significant increase in trading volume and a daily bullish MACD cross.

XRP/USD is one of the biggest gainers today among the top currencies with a 5.5% increase in price. 

Bitcoin SV with a 23% surge is at the top followed closely by Aave and Reserve Rights, both seeing 20% moves to the upside. The entire market has been bullish in the past 24 hours with an overall increase in trading volume to $71 billion from $48 billion.

Chart of the day: EOS daily chart

Market

The crypto derivatives exchange, ByBit has announced the launch of the World Series of Trading event, a global trading competition with a massive 200 BTC prize pool. 

The World Series of Trading will be the main tournament of Bybit Games and the crypto trading world. We at Bybit believe in the importance of empowering traders who embody the prowess and passion for crypto trading,” said Ben Zhou, co-founder and CEO of Bybit.

Pre-registrations are already open and will last for 23 more days. 

Expedia, one of the biggest travel agencies in the world has partnered with Travala.com to allow users to pay using cryptocurrencies for over 700,000 accommodations that Expedia is currently offering.

Industry

Kirobo’s‘ retrievable transfer’ is now available on Bitcoin’s Testnet. The startup claims to have created a way to basically undo Bitcoin transactions. 

Retrievable Transfer protects users from sending their cryptocurrency to the wrong hands, whether by mistake or due to malicious activity. We do it by adding a new security layer that we call the third step of verification.

A new crypto fund registered with the SEC has launched its own token named ArCoin, an ERC-1404 Ethereum token designed to meet all requirements. The Arca US Treasury Fund is the first SEC-registered fund to offer digital securities. 

Quote of the day

If you don’t believe it or don’t get it, I don’t have the time to try to convince you, sorry. – Satoshi Nakamoto