Daily Market Update - July 21, 2020

$BTC 24 Hour High $9,214.27 $BTC 24 Hour Low $9,137.51 $BTC -0.3%


Total Crypto Market Cap $276.0 BN (+1.47%)


24 Hour Volume $55.8 BN (+13.65%)


Notable Movers Waves (WAVES(+15.22%)


BTC Dominance 62.2% (+1.69%)


$BTC remains unchanged and firmly bound trading range (100) between 9,100 and 9,200. CME options volumes dipped to three month lows, trending consistently with the current market after experiencing record growth in June. $BTC trading at the expected 10 day SMA levels, +2% above 100D SMA with Bollinger Band range tightening over the past week, neutral RSI levels. 

Alts

  • Top 10 alts traded in the red, notably $LINK slowing down as it dropped 8% overnight to 7.39 levels after being unable to break resistance at 9. $LINK has now dropped 4 out of the last 5 days, up only 1.3% across these 5 days.

  • $LEND gave up 17% of its gains after being unable to break through 0.40 levels, still at oversold RSI levels after six days of bullish price action that pushed it up 85% from 0.20 levels. Trading on upper Bollinger bands and 11% above 10D SMA expectations.

  • $XTZ also saw a bit of correction for the third straight day, shedding all of its 15% gains from last week, back down to 2.70 to 2.80 levels where it was trading around last month.

PayPal Picks Paxos to Supply Crypto for New Service, Sources Say

It’s a plum assignment for New York-based Paxos, which last week launched Paxos Crypto Brokerage and announced its first customer in Revolut US, the American division of the U.K.-based fintech firm that offers Bitcoin trading. A formal announcement of the PayPal relationship could come as soon as this week, one source said.


Mastercard Now Allows Crypto Firm Wirex to Issue Payment Cards

Mastercard, one of the world’s largest payments processors, says Wirex has become the first native crypto company to be able to directly issue payment cards to its customers. Wirex's original card had been with rival Visa; the company will now be able to use Mastercard's network for fiat currency payments.


$10.9 Billion Bitcoin Stash Proves Satoshi Is Still the Biggest Whale

A recent report by blockchain tracking and analytics provider, Whale Alert, revealed that the miner known as Patoshi mined over $10.9 billion or 1,125,150 BTC during Bitcoin’s infancy in order to protect the network from a 51% attack. Patoshi has been confirmed to be the anonymous Bitcoin creator known as Satoshi and the early blocks mined by Patoshi also include the first BTC transaction to Hal Finney, a well known developer and early Bitcoin contributor.




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