Search ForexCrunch

Here is what you need to know on Friday, June 26, 2020

BTC/USD is trading around $9,150 after a brief slip to $9,000. Fortunately, bulls managed to buy the dip and push Bitcoin above $9,100 again.

ETH/USD is battling for the $230 level and sees decreasing trading volume. 

XRP/USD remains as the weakest cryptocurrency and it’s still fighting to stay above $0.18 while the trading volume continues declining.

The biggest gainer today was Compound (COMP) with a 21% price increase hitting $263 and putting itself at rank 23rd by market capitalization. Celsius continues with its bullish trend hitting $0.35 followed by Loopring with a 12% price surge.

Chart of the day:  BTC/USD 1-hour chart

BTCUSD

Market

Bitcoin and the market have been really stable for the past weeks, however, around 114,000 Bitcoin options are set to expire today. Contracts finishing is usually the spark of Bitcoin’s volatility which means this weekend can be quite important.

Ebang has continued with its plans to launch an IPO on Nasdaq. The company wants $125 million and plans to launch a cryptocurrency exchange and mining farms. 

Industry

Mozilla, the corporation behind Firefox has invested money in an African startup ffeaturing cryptocurrency wallets. Wallets Africa, the blockchain company, intends to allow people to send payments internationally at cheap prices and faster than traditional methods. Users of the platform can also pay for cable TV and other services directly with crypto.

Quote of the day

Blockchain technology could change our world more than people imagine. Bitcoin, however, could be a bubble.” — Jack Ma Yun