Crypto Today: Bitcoin bears breach critical supporting trend line

Here's what you need to know on Thursday

Markets

BTC/USD is currently trading at $9516 (+6.00%), breached a critical ascending trend line via the daily.

ETH/USD is currently trading at $254 (-9.90%), Ethereum was an outperformer in the session today, as the price looks to break down resistance from $270-90 price range. 

XRP/USD is currently trading at $0.2689 (-10.20%), bears testing important support via the daily. 

Among the 100 most important cryptocurrencies, the best of the day are ALGO $0.414223 (+9.55%), KNC $0.511642 (+9.49%) LEO $0.988477 (+1.75%) The day's losers are WAXP $0.043659 (-20.42%), MANA $0.0.053295 (-19.30%), REP $13.20 (-16%).

Chart of the day: XRP/USD daily chart (critical trend line test by bears) 

Market

The Cardano (ADA) network will perform a scheduled upgrade on Feb. 20 to introduce Ouroboros BFT, an improved consensus mechanism. The update is an intermediate step between the current Byron era and Shelley, which will introduce staking on mainnet.

Digital currency and blockchain governance network Dash has joined forces with fiat infrastructure provider Simplex, enabling DASH to be purchased with credit card. As part of the agreement, DASH will be offered by Simplex for purchase with credit cards through its partners.

Changpeng Zhao, the founder and CEO of major crypto exchange Binance, suggested that Bitcoin’s (BTC) price has not yet adapted to the upcoming block reward halving. Zhao suggested that Bitcoin’s price will see more upwards movement in the future during an interview on Feb. 20. 

Regulation

Russia’s Federal Security Service (FSB), the successor of KGB, agreed with the Central Bank of Russia that cryptocurrencies should not be allowed as means of payments on the territory of Russia, a local portal reported.  

Industry 

The Riksbank of Sweden is starting to test Europe’s first central bank digital currency (CBDC), they said in a statement made Wednesday. The Swedish central bank says the goal of the testing is to show that citizens could benefit from using an e-Krona that’s as easy to send as an email.

The Central Bank of Brazil (BCB) has announced a plan to launch a new near-instant payment system during November. The platform, called the Brazilian Instant Payment Scheme (PIX), will facilitate peer-to-peer and business-to-business transactions in 10 seconds or less via mobile phone, internet banking, or select ATMs. 

Cisco and Japan’s NEC Corporation have entered a strategic partnership to track network equipment produced by the former on a permissioned blockchain. 

Norwegian Block Exchange (NBX) CEO Stig Kjos-Mathisen said his crypto trading platform had successfully developed payment infrastructure that will allow customers on Norwegian Air to purchase tickets with digital assets.

National Stock Exchange of Australia owner NSX Ltd. and financial institution iSignthis (ISX), both publicly listed companies, announced Thursday they are forming a joint venture to offer a digital securities trading platform.

Major investment bank Morgan Stanley is buying online trading firm E*Trade Financial Group, which would extend the bank’s offerings to everyday investors.

The $13 billion deal marks Morgan Stanley’s largest takeover since the crisis of 2008, also bringing along E*Trade’s five million clients, $360 billion in assets and an online bank, the Wall Street Journal reported on Feb. 20.

The Dutch Fiscal Intelligence and Investigation Service (FIOD) has arrested two men for their alleged involvement in money laundering using digital currencies.

Quote of the day

I personally believe the halving (Bitcoin) has not been priced in. 

Binance CEO CZ