Lorenzo Stroe
Independent Analyst
Here is what you need to know on Thursday 10, September.
BTC/USD is currently trading at $10,305 after defending the $10,000 level again. Bulls have already defended this level for a week straight and whales are already moving significant quantities of cryptocurrencies around.
ETH/USD is bouncing after a 6% price increase in the past 24 hours and looking at the daily 50-MA at $365 as the next potential resistance level.
XRP/USD is bouncing from the 200-MA but getting rejected at the 100-MA. The cross-border cryptocurrency is currently trading at $0.241.
Chart of the day: BTC/USD daily chart
-637352781098654717.png)
Market
Several whales have moved huge quantities of Bitcoin from 1,000 coins to the biggest at 3,001 Bitcoin, around $30 million from OKEx to an unknown wallet. A colossal whale moved 216,016 ETH from an unknown wallet to another wallet, worth around $76 million. It’s clear that whales are moving coins around, perhaps getting ready for the crypto market bottom, to buy the dip or for the next leg down.
3,001 #BTC (30,399,383 USD) transferred from #OKEx to unknown wallet
— Whale Alert (@whale_alert) September 7, 2020
Tx: https://t.co/UJyrqZTMZX
Industry
Huobi, one of the biggest exchanges by volume has announced the launch of a new savings product to compete with DeFi yield platforms. To incentivize new users to join the platform, Huobi is giving out accounts with annualized returns of 88% for the first week and will distribute 30,000 USDT among users.
DCG, a blockchain investment firm has just acquired Luno, a crypto exchange with over 5 million existing customers in around 40 countries.
We have invested in many retail businesses all over the world – including nearly two dozen exchanges, said Mark Murphy, DCG’s chief operating officer. But this is the first subsidiary that is a wallet and an exchange, which of course have large numbers of retail investors.
Quote of the day
This [Bitcoin] may be the purest form of democracy the world has ever known, and I — for one — am thrilled to be here to watch it unfold.
– Paco Ahlgren
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
Coinbase lists WIF perpetual futures contract as it unveils plans for Aevo, Ethena, and Etherfi
Dogwifhat perpetual futures began trading on Coinbase International Exchange and Coinbase Advanced on Thursday. However, the futures contract failed to trigger a rally for the popular meme coin.
Stripe looks to bring back crypto payments as stablecoin market cap hits all-time high
Stripe announced on Thursday that it would add support for USDC stablecoin, as the stablecoin market exploded in March, according to reports by Cryptocompare.
Ethereum cancels rally expectations as Consensys sues SEC over ETH security status
Ethereum (ETH) appears to have returned to its consolidating move on Thursday, canceling rally expectations. This comes after Consensys filed a lawsuit against the Securities & Exchange Commission (SEC) and insider sources informing Reuters of the unlikelihood of a spot ETH ETF approval in May.
FBI cautions against non-KYC Bitcoin and crypto money transmitting services as SEC goes after MetaMask
US Federal Bureau of Investigations (FBI) has issued a caution to Bitcoiners and cryptocurrency market enthusiasts, coming on the same day as when the US Securities and Exchange Commission (SEC) is on the receiving end of a lawsuit, with a new player adding to the list of parties calling for the regulator to restrain its hand.
Bitcoin: BTC post-halving rally could be partially priced in Premium
Bitcoin (BTC) price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?