Here is what you need to know on Monday 20, July 2020
BTC/USD remains flat trading at $9,157 without any major moves.
ETH/USD lost the daily EMAs again dropping to $235 after a decent run to $240.
XRP/USD is bleeding the most but the bulls are still defending the daily 26-EMA and keeping XRP above $0.194.
Syscoin is the biggest winner today with a ridiculous 75% rally to $0.1 and $30 million in trading volume. We also have Loki and Wirex Token with a 34% and 25% price increase respectively.
Chart of the day: SXP/USD daily chart
Market
PayPal is again the talk in the crypto community as it seems the platform has announced a partnership with Paxos to enable users to sell and buy cryptocurrencies. According to CoinDesk and now other websites, PayPal will have a partnership with Paxos and the official announcement is expected to happen before the end of the week.
The confirmation of this partnership would mean around 325 million users will have access to cryptocurrencies like Ethereum and Bitcoin. A massive partnership that would very likely become the spark of the next bull run.
Industry
At the same time, Mastercard is expanding its cryptocurrency program for many crypto-card issuers. Raj Dhamodharan, the executive vice president of digital asset and blockchain products and partnerships at Mastercard, stated:
The cryptocurrency market continues to mature, and Mastercard is driving it forward, creating safe and secure experiences for consumers and businesses in today’s digital economy
Wirex became the first Mastercard-enabled crypto-card and it’s regulated by the Financial Conduct Authority.
Quote of the day
Bitcoin may be the TCP/IP of money.
– Paul Buchheit
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