Daily Market Update - July 16, 2020

#BTC 24 Hour High $9,273.66 $BTC 24 Hour Low $9,171.93 $BTC -0.5% Total Crypto Market Cap $268.0 BN (-1.54%) 24 Hour Volume $60.4 BN (+3.07%) Notable Movers Flexacoin (FXC) (+33.47%) BTC Dominance 62.6% (+0.32%)

Brave Browser has partnered with crypto exchange Gemini to let its users trade cryptocurrencies from within the privacy-focused browser itself. Users will be able to buy, trade, earn, and store cryptocurrencies directly via Brave. The Gemini widget is currently available on Brave’s Nightly version, and is expected to go live in Brave’s general release "in the coming weeks," said Gemini.

Digital markets were unswayed by the massive Twitter hack that affected many notable accounts such as Bill Gates, Elon Musk, Warren Buffett, Barack Obama, Joe Biden and other big names seeking to lure followers into sending $BTC towards a matching program “to give back to society”. As many as 320 people fell victim, with over US$113,000 reportedly transferred. Grayscale Investments reports $900M inflow from Q2, with committed capital towards their Ethereum trust growing to $135.2M. Overall market cap up to $272B with $BTC dominance remaining at 62.2% since yesterday. $BTC markets are still range bound for the past six days between 9,100 to 9,250 with low traded volumes. As stablecoin supply reach12B, viewed as bullish sentiment as it’s expected that the stablecoins will eventually cycle into $BTC. Japan Is Seriously Considering to Issue Digital Currency – report Japan's government is said to be seriously considering issuing a central bank digital currency (CBDC). Japan's largest financial newspaper Nikkei reported the news on Tuesday, saying that the government will include the CBDC plan in its policy framework this year. The inclusion of such a plan in Japan's policy framework would make it official government policy, per the report. Alts The two, hot, main DeFi tokens $LINK and $XTZ remain the strongest performers overnight. $LINK still running off its week long momentum, however rejected 9 levels for the second time this week as it trades up to 8.51. The traded volumes decreased 15% to 1.03B. Chainlink now ~300M away from overtaking $BSV as the 7th largest crypto in the space after a meteoric rise. Up +37% in the past 7 days and 22% above 10D SMA expectations. Still trading in the upper Bollinger bands and showing extremely overbought levels on RSI. $XTZ finally cleared its 3.0 resistance levels with a movement upward of 7.8% overnight. It’s currently trading at 3.21 at oversold RSI levels and on upper Bollinger bands. Other alts up around 3%-5% including $ATOM, $VET and $XLM.

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