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Here is what you need to know on Wednesday 19, August

BTC/USD is trading at $11,980 right below the crucial $12k support level after a slight rejection at $12,300. However, bears are not getting a lot of continuation.

ETH/USD dropped following Bitcoin’s failure to hold $12k but remains in a daily uptrend and trading at $423.

XRP/USD dipped but is holding on to the $0.30 support level. Bulls are defending the daily 12-EMA and the RSI is cooling off. 

The biggest gainer today was YFI cracking $12,000 and actually climbing higher than Bitcoin price. Swipe is also up 23% following Bitcoin’s acquisition. 

Chart of the day: LINK/USD daily chart

LINKUSD

Market

One of the largest Bitcoin whales ranked 37th has just moved around $243 million worth of Bitcoin to another empty wallet. The first wallet got the Bitcoin back in December 2018 and has just moved all the coins paying around $139 in fees. 

It’s unclear if this prompted the price of Bitcoin to fall below $12,000 in less than one hour. It was not a transaction going to an exchange so it could simply mean the whale wants to renew his wallet. 

Industry

Sorare, a blockchain-based fantasy football platform will launch a complete set of Japenese professional football players. The platform already had NFT cards issued. 

Gate.io has announced the development of its own DeFi network called GateChain which will use a stablecoin named USDG and DEX, the core of the network. A decentralized exchange that is more transparent than others. 

Quote of the day

When I first heard about Bitcoin, I thought it was impossible. How can you have a purely digital currency? Can’t I just copy your hard drive and have your bitcoins? I didn’t understand how that could be done, and then I looked into it and it was brilliant.

– Jeff Garzik