Lorenzo Stroe
Independent Analyst
Here is what you need to know on Wednesday, June 24, 2020
BTC/USD is currently trading at $9,311, struggling to stay above $9,300 after a significant crash on Wednesday. The digital asset touched $9,200 on most exchanges and bears are looking for more continuation.
ETH/USD is down 4% and almost dipped below $230. Bulls tried to break above $250 again but got rejected heavily.
XRP/USD dropped to $0.181 and it’s dangerously close of losing $0.18 which hasn’t happened since May 10.
The biggest winner today was Quant with a 28% price surge to $8,65 followed by SNX which has been in an uptrend for a few weeks. Ren is also doing extremely well at $0.17 and a 17% surge and a ton of trading volume.
Chart of the day: ETH/USD daily chart
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Market
According to news from Money Today, Bithumb, a popular cryptocurrency exchange is planning to launch an IPO in South Korea.
An official from the securities' industry said:
In the meantime, virtual currency was difficult to define and its value was opaque as an asset, so many people viewed it as a sort of speculative board. It can be said that some part of the virtual currency has entered the system and has been the target for evaluating business feasibility and corporate value.
The Chamber of Digital Commerce posted a webinar today about stablecoins. According to Jeremy Allaire, Founder of Circle, stablecoins are the future and “we’ll look back in the same way that we look back at long-distance calls’.’
Industry
Binance just announced a B2B solution for merchants to integrate a function to buy crypto on their platform. According to the press release, Binance CEO Changpeng Zhao (CZ) said:
Binance Access allows businesses to provide a one-stop exchange service to their customers and users without operating an exchange, streamlining the process for both service providers and the end-users. By providing other industry players and businesses with the tools and services to build the ecosystem, we hope to continue lowering the entry barrier to crypto and enabling more solutions to boost adoption as an infrastructure provider.
Quote of the day
Bitcoin is a technological tour de force. — Bill Gates
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