- DeFi Is Helping Ether Outpace Bitcoin This Year;
- Number of Institutions Buying Crypto Futures Doubled in 2020: Fidelity Report;
- Not With Bitcoin: Rumor ECB Eyeing $500B Debt Quarantine in ‘Bad Bank’;
- LocalBitcoins’ Volume Holds Steady Despite Stricter Compliance Procedures;
- Why I tripled my BATs Holdings 10 days ago ... And already made a >20% profit ;
- 🗞 Daily Crypto Calendar, June, 10th 💰
Welcome to the Daily Crypto News: A complete Press Review, Coin Calendar and Trading Analysis. Enjoy!
🗞 DeFi Is Helping Ether Outpace Bitcoin This Year
Bitcoin and ether are soundly beating nearly all major global equities indices on the year. Of the two, ether is handily beating bitcoin’s price performance when the market is moving higher.
The second-largest cryptocurrency by market capitalization, ether (ETH) is trading around $243 and climbed less than a percent in 24 hours as of 20:00 UTC (4:00 p.m. ET).
At 00:00 UTC on Tuesday (8:00 p.m. ET Monday), ether was hit with high selling volume on exchanges like Coinbase. Its price swung between $239 and $249 within an hour. Since then, ether has been changing hands at around $243, slightly above its 50-day and 10-day moving averages, a bullish technical indicator were it to last.
Since January, ether’s price performance has been steadily outpacing that of bitcoin (BTC). With over 90% in gains since 2020 started, ether holders are beating bitcoin investors because the world’s largest cryptocurrency by market capitalization is up by just over 30% since January.
Indeed, while dipping considerably during March’s market crash, the amount of U.S. dollar value locked in DeFi has recently surpassed $1 billion once again.
🗞 Number of Institutions Buying Crypto Futures Doubled in 2020: Fidelity Report
Fidelity’s digital asset subsidiary found the number of U.S. institutional investors buying crypto derivative products jumped significantly in 2020.
Fidelity Digital Assets said institutional sentiment was improving in relation to cryptocurrencies. “[A]lmost 80% of investors surveyed finding something appealing about the asset class,” it said.
But what’s far more interesting is right down in the guts of the survey. Talking about how institutional investors are increasing their portfolio allocation to cryptocurrencies – the top one, unsurprisingly, being bitcoin – it goes on to say, “22% of U.S. respondents invested in digital assets have exposure via futures, which is a substantial increase relative to 9% of U.S. investors surveyed in 2019.”
The survey, which took place between November and March, spoke to 774 institutions in the U.S. and in Europe, with 393 coming from the U.S. That means around 86 U.S. institutions traded crypto futures this year, compared to just 40 in the 2019 survey.
🗞 Not With Bitcoin: Rumor ECB Eyeing $500B Debt Quarantine in ‘Bad Bank’
The European Central Bank (ECB) may be fearing default as rumors circulate that it plans to plant at least half a trillion euros of “bad” debt in a “bad bank.”
As Reuters reported on June 10 citing two people familiar with the matter, the ECB now wants to quarantine its financial junk.
ECB praises “useful” asset management firms
The reason, the sources say, is that rising unemployment may fuel the risk of mass defaulting on debt obligations.
Even excluding the coronavirus unemployment surge, the Eurozone already has $500 billion of debt which is unlikely to be repaid at all. This includes credit cards, loans and mortgages, Reuters notes.
Federal Reserve balance sheet as of June 1, 2020. Source: Federal Reserve
🗞 LocalBitcoins’ Volume Holds Steady Despite Stricter Compliance Procedures
Banning cash transactions and requiring identity verification has not noticeably hurt bitcoin’s oldest operating peer-to-peer exchange, market data shows.
Helsinki-based bitcoin exchange LocalBitcoins made significant changes to its policies in June 2019. That included mandatory identity verification and removing its cash-for-crypto trading option.
Rather than permanently stifling its business over the past year, volume on the peer-to-peer bitcoin exchange has ebbed and flowed with leading centralized exchanges like OKEx and Coinbase, for example.
Compared to reported volumes of 12 months ago, OKEx and Coinbase have seen volume drop by approximately 30% and 45%, respectively, according to data from Nomics. Since January, however, the two exchanges’ volumes have grown by roughly 2,500% and 800%, respectively. By comparison, LocalBitcoins’ volume is down 27% over the past 12 months and up almost 40% for the year to date.
🗞 Why I tripled my BATs Holdings 10 days ago ... And already made a >20% profit
As many of you already know I do believe in Brave Browser and company as well as in there BAT token even if we do not have a lot of uses today.
The price of BAT has been performing very well over the past few month coming from a floor of 0.08$ to close to 0.26$.
In my opinion, this is due to the following factors:
- A mass market working product
- An increasing number of users (>to 5mn Daily Active Users)
- A clear and simple rewards system
- A strong foundation/company driven to develop and leverage their active users
- People are looking for more privacy while browsing and Brave can offer this
If you feel like trying it out: please consider using my ref link: https://brave.com/mrc105.
Thanks, 😃
🗞 Daily Crypto News, June, 10th💰
- Kava (KAVA)
Mainnet Upgrade
"June 10th, 2020 at 14:00 UTC: Kava DeFi Lending platform launches enabling the first BNB deposits for USDX minting."
- Band Protocol (BAND)
Band Protocol’s public Wenchang Mainnet launch is going live on June 10, 2020.
- Paxos Standard (PAX)
Order matching will start and trades will be executed normally. However, only limit orders will be available. PAX: Wednesday, 10 June at 11.
- ALP Coin (ALP)
AMA in Crypto Chat Box at 11:00 (UTC+3).
- Band Protocol (BAND)
"Trading to start on 6/10 @ 10 AM EDT BAND #staking service to launch simultaneously"
Last Updates
- 🗞 Daily Crypto News, June, 9th💰
- 🗞 Daily Crypto News, June, 8th💰
- 🗞 Daily Crypto News, June, 7th💰
- 🗞 Daily Crypto News, June, 6th💰
- 🗞 Daily Crypto News, June, 5th💰
- 🗞 Daily Crypto News, June, 4th💰
- 🗞 Daily Crypto News, June, 3rd💰
- 🗞 Daily Crypto News, June, 2nd💰
- 🗞 Daily Crypto News, June, 1st💰
- 🗞 Daily Crypto News, May, 31st💰
- 🗞 Daily Crypto News, May, 30th💰
- 🗞 Daily Crypto News, May, 29th💰
- 🗞 Daily Crypto News, May, 28th💰
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