Lorenzo Stroe
Independent Analyst
Here is what you need to know on Wednesday 16, September.
BTC/USD saw continuation today after the last breakout and it’s trading at $10,759. The first-ranked cryptocurrency did have a slight pullback from $10,930, the high of the past week.
ETH/USD is trading at $363 and didn’t follow Bitcoin today even though the U.S. stock market had a strong open.
XRP/USD is in similar shape, losing 0.7% of its value in the past 24 hours but staying above the 10-SMA.
Chart of the day: BNB/USD daily chart
-637357969471209147.png)
Market
Binance coin had a major 11% correction today after its most recent bull rally. The exchange was also accused of helping launder around $9 million from a 2018 hack. The Japanese cryptocurrency exchange that suffered the hack is now suing Binance alleging that it helped the hackers. The plaintiff states:
The thieves broke the stolen bitcoin into seven thousands of separate transactions and accounts, all valued below the 2-bitcoin threshold. In this way, the thieves converted the stolen bitcoin into other cryptocurrencies and transmitted the value from the Binance platform.
Fisco, the exchange in question, also argues that the case should be trialed in California as Binance has recently acquired Swipe which uses Coinbase and Bitgo which are located in the San Francisco Bay Area.
Industry
According to a September 10 announcement, INX Limited raised around $7.5 million in its IPO and has just started accepting cryptocurrencies as payment methods. It supports BTC, ETH, and USDC. INX is the first-ever SEC-registered security token IPO and it’s aiming to raise a total of $117 million.
INX is a regulated trading platform for digital assets and has become the first SEC-regulated IPO to offer a security token. The initial price of each token was $0.9 with a minimum $1,000 investment per user.
Quote of the day
Well, I think it is working. There may be other currencies like it that may be even better. But in the meantime, there’s a big industry around Bitcoin— People have made fortunes off Bitcoin, some have lost money. It is volatile, but people make money off of volatility too.
– Richard Branson
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Crypto Today: Bitcoin is less than 10% away from all-time high as Ethereum ETF approval anticipation brews
Bitcoin trades around $68,000 early on Monday, less than 10% away from its all-time high of $73,777 on Binance. Ethereum ETF anticipation brews among traders and Ether investment products see inflow of over $45 million in the past week.
Ripple lawsuit settlement likely soon, says Brad Garlinghouse, XRP hovers around $0.60
Ripple (XRP) trades around a key psychological level of $0.60, early on Monday. The altcoin recently made headlines for its highest weekly gain of 2024, over 40%. XRP sustained nearly 21% of the gains from the last seven days.
Solana could cross $200 if these three conditions are met
Solana’s total value locked climbs 18% in July to $5.38 billion, as seen on DeFiLlama. Solana sustains over 20% gains in the past seven days, corrects nearly 3% on Monday. Active addresses and new address count in the Solana network have increased throughout July.
ALT, WLD, ENA, ID set for $200 million token unlocks next week
The crypto market is set to experience another wave of token unlocks next week, with Altlayer (ALT), Worldcoin (WLD), Ethena (ENA), and Space ID (ID) set for a combined token unlock worth about $200 million.
Bitcoin: Will BTC continue its bullish momentum?
Bitcoin (BTC) price increased by 5.5% this week until Friday after breaking above a descending trendline. Currently, it is trading slightly higher by 0.23% at $64,166.