- Why $8.1K Will Be a Key Level for Bitcoin Price for the Next 6 Months;
- Grayscale Is Buying Up More Than Just Bitcoin;
- How Bitcoin Fits Into Lebanon’s Banking Crisis;
- Bitcoin's Wasabi Too Strong For Europol;
- Fed Chair Jerome Powell Discusses Leveraging an Ethereum-Based Libor Replacement;
- 🗞 Daily Crypto Calendar, June, 6th 💰
Welcome to the Daily Crypto News: A complete Press Review, Coin Calendar and Trading Analysis. Enjoy!
🗞 Why $8.1K Will Be a Key Level for Bitcoin Price for the Next 6 Months
Bitcoin (BTC) is trading at $9,687 representing a 0.87% loss in value in the last 24 hours and 1 % for today’s session
Looking at performance relative to its peers, Ether (ETH) and XRP are both underperforming versus Bitcoin at the moment. Ether, the second-biggest cryptocurrency by market capitalization, being down 1.29% and XRP 1.22% in the last 24 hours. But both have outperformed Bitcoin this week with ETH up a notable 9% over the last seven days.
Bitcoin dominance remains at 65% and continues to lose ground following a strong couple of weeks for altcoins.
1 week chart
The Moving Average Convergence Divergence indicator (MACD) is trending above zero and crossed bullish with higher highs printing on the histogram implying that there remains strength within the move.
Spot volume has been overwhelmingly in the green with 10 of the last 12 weeks printing bullish volume.
🗞 Grayscale Is Buying Up More Than Just Bitcoin
22% of crypto fund manager Grayscale Investments’ purchases have been Ether throughout 2020 so far, totaling $110 million worth of accumulation.
While great attention has been paid to the recent enormous accumulation activities of the Grayscale’s Bitcoin Investment Trust, or BIT, the crypto fund manager has also been aggressively growing its Ether (ETH) stash.
Speaking on a recent episode of the Coinscrum markets podcast, Grayscale’s director of investor relations, Ray Sharif-Askary, revealed that $110 million worth of ETH has been purchased by the firm during 2020 so far.
Grayscale Ethereum Trust explodes
Grayscale’s Ether accumulation has coincided with a dramatic year-to-date (YTD) performance for shares in the Grayscale Ethereum Trust, which have increased nearly 800% with the market’s last recorded trade closing for $210.
🗞 How Bitcoin Fits Into Lebanon’s Banking Crisis
Lebanon’s financial crisis has banks looking for alternative monetary policy and citizens scrambling for alternative banking services.
The economic crisis has been raging for years, but political turmoil and the pandemic-induced global market downturn has raised fears of government defaults and the devaluation of the Lebanese pound. As a result, more Lebanese people are seeking information about bitcoin (BTC), which is relatively cheap and accessible compared to the fractured banking system.
The exchange rate for Lebanese pounds to dollars has skyrocketed from 1,500 pounds for every dollar to 4,000 pounds for every dollar, said Patrick Mardini, CEO of the Lebanese Institute for Market Studies and associate professor of finance at the University of Balamand in Lebanon. That exchange rate also varies depending on the type of dollar.
Podcast link here
🗞 Bitcoin's Wasabi Too Strong For Europol
Open-source, non-custodial Bitcoin privacy wallet Wasabi is popular enough to catch the attention of the European Union Agency for Law Enforcement Cooperation (Europol), the Hague-based European Union's law enforcement agency. As for what the law enforcement can do about this wallet's privacy options - it's not looking good for them.
In a two-part report for the eyes of "law enforcement only," one dated April and the other May, 2020, Europol’s European Cybercrime Centre (EC3), writes that they've noticed an "increasing number of investigations involving Wasabi Wallet."
EC3 notes the wallet's use of the anonymization method for bitcoin transactions CoinJoin, integration of TOR software, that certain anti-money laundering (AML) legislation, such as the AMLD5, don't apply to it, and other privacy-focused features. The news was first reported by Coindesk.
🗞 Fed Chair Jerome Powell Discusses Leveraging an Ethereum-Based Libor Replacement
The Federal Reserve’s Chair, Jerome Powell has hinted at using an Ethereum-based interest reference rate in a transition from the London Interbank Offered Rate (Libor). Powell also detailed in a letter to Senator Tom Cotton (R-AR), that the Ethereum version of Libor, a software called “Ameribor” may not be for everyone.
The United States Federal Reserve has expanded a great deal since the start of the coronavirus outbreak and a few months prior as well. This week a letter to Senator Tom Cotton from Fed Chair Jerome Powell indicates the Fed is contemplating using Ethereum for interest reference rates.
“The way the inter-bank, or Libor, interest rate is set is no longer fit for purpose,” explained a written review by the Financial Services Authority. The megabank Barclays was one of the big name banks accused of messing with the Libor rates.
🗞 Daily Crypto News, June, 6th💰
- DigiByte (DGB)
We are pleased to announce upcoming AMA with @DigiByteCoin DigiByte Blockchain On 19:00 PM, UTC+2 , 6 June, 20.
- Origin Protocol (OGN)
This Saturday , 06 of June at 10:00 a.m. EDT join us for a AMA in the Binance Spanish Telegram group.
- Vexanium (VEX)
"The Vexanium Blockchain will update RAM storage from 64 GB to 80 GB... at 10 AM (GMT+7)."
- CoinJanitor (JAN)
"We are pleased to announce that CoinJanitor (JAN) @CoinJanitor will be listed on 06th June 2020. Trading Pair: #JAN/#USDT, #JAN/#BTC"
- Elastos (ELA)
"This edition of the Bi-Weekly Update contains updates from Trinity Tech on elastOS, from the Blockchain Team on supernodes..."
Last Updates
- 🗞 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💰
➡️ Publish0x
➡️ UpTrennd
➡️ Minds
➡️ Hive
➡️ Twitter
➡️ Facebook
➡️ Be paid daily to browse with Brave Internet Browser
Proud member of:
