​​US Congress Banking Committee Discusses The Development Of Digital Money and Payments Systems

- The U.S Congress banking committee discusses the future of digital money and payments
- Former U.S Commodities and Futures Trading Commission (CFTC) chairman is among the witnesses set to present to the committee.

With over 32 bills on digital currencies and payment systems introduced in the 116th U.S Congress, these new technologies got yet another day in the lawmakers’ chambers. According to a remote hearing earlier today, the U.S Senate Committee on Banking, Housing, and Urban Affairs discussed the “Digitization of Money and Payments.”

@CryptoWorldTina

​​Buying $IOTX here

@CryptoWorldTina

​​BTC DOMINANCE GLOBAL UPDATE

Check the previous update, it is in progress. Dominance retested the support level and ready to go lower.

@CryptoWorldTina

🎤 Significant Volume Change

🍀 Symbol: BCH/BTC
🧨 Hourly Volume Increase: 1407%
🔹 Price: 0.02484
🚨 Trend: DOWNTREND

🍀 Symbol: AION/BTC
🧨 Hourly Volume Increase: 736%
🔹 Price: 0.00001088
🚀 Trend: UPTREND

​​Ethereum Fees Just Hit a Multi-Year High, But There Are Solutions

The past few weeks have seen Ether stall in terms of price action, with the cryptocurrency trading between $210-240. Not the same can be said about Ethereum’s underlying blockchain activity.
Due to a perfect storm of events, the number of users of the network has skyrocketed.

Blockchain analytics firm Santiment reported last week that the number of new ETH addresses created a day surpassed 100,000:
“ETHEREUM’S NETWORK GROWTH METRIC HAS RAPIDLY BEEN ON THE RISE SINCE THE BEGINNING OF 2020, CREATING 237% MORE ADDRESSES YESTERDAY THAN IT DID ON JAN 1, 2020 (AND ~+200% ACCOUNTING FOR ROLLING AVERAGES NOW VS. THEN).”

A similar trend of growth has been seen in the daily count of transactions.
Below is a chart from Etherscan showing that the number of transactions on Ethereum is starting to near 2018’s all-time high. Late last week, there were over 1.1 million transactions in a single day; the all-time high is around 1.37 million transactions in a day.

@CryptoWorldTina

BitMEX
#ETH/U20 Take-Profit target 4 ✅
Profit: 18.954% 📈
Period: 6 Days 16 Hours 14 Minutes ⏰

​​#XRP

XRP broken both trendlines and pumped to 2000 resistance. If will be rejected, should pullback to 1950-1960. That will be a good support to buy more.

@CryptoWorldTina

​​Billionaire Investor Ray Dalio Bearish on Cash Says Central Banks Drive Economy

@CryptoWorldTina

​​The Number of Stocks Reaching All-Time Highs is Growing; Why Bitcoin Won’t Follow

Bitcoin and the stock market have formed a close correlation in recent weeks, but this is now showing some signs of breaking as BTC trades sideways while most equities begin picking up some momentum.

The stock market has been seeing an intense recovery, and its momentum appears to be picking up once again as many states and cities that were previously on lockdown begin opening up.

One indicator of the market’s newfound momentum can be seen while looking towards the number of publicly traded companies that are seeing their stock prices hit fresh all-time highs.

On Friday, 59 common stocks on the NYSE were able to set fresh highs. This is still a far cry from the numbers seen before March, but it does show that the traditional markets are making a comeback.

However, despite the recent correlation between Bitcoin and the traditional markets, it remains unlikely that this will be enough to propel the cryptocurrency to fresh highs.

@CryptoWorldTina

🎤 Significant Volume Change

🍀 Symbol: ELF/BTC
🧨 Hourly Volume Increase: 936%
🔹 Price: 0.00001031
🚨 Trend: DOWNTREND

🍀 Symbol: CHZ/BTC
🧨 Hourly Volume Increase: 8278%
🔹 Price: 0.00000128
🚀 Trend: UPTREND

​​Bitmain Pulls Schrödinger’s Act as Power Struggle Reaches New Heights

Bitmain is having a Schrödinger moment as official accounts make contradictory statements on payment details.

​​In June crypto derivatives volumes dropped by 35.7% while spot volumes decreased by 49.3%. According to CryptoCompare’s recently released report Crypto derivatives volumes in June dropped to $393B USD (-35.7%) – the lowest monthly volumes in 2020. Meanwhile, total spot volumes have decreased to $642.6B USD (-49.3%). As a result, derivatives have gained market share and represented 37% of the market in June (vs 32% in May).

@CryptoWorldTina

​​$NAS +15%. Hold for higher with trailing stop

@CryptoWorldTina

​​#BTC #Bitcoin

No worries. Everything is alright. Just a small problem with electricity, that is fixed now. All subscriptions are extended for that day.

So what do we have now. SP500 and DOW are retracing. BTC also show intentions to fall down to 9100-9138. If it happen and we will see some good volume on that dip with long wick coming back up (as bulls win the battle), that will be a sign for good potential bounce to 9600 zone. That stage before impulse move may take 1-2 days.

Bearish scenario is that dump pass that support zone and drop lower to ~8900-9000. And there who knows... But I'm relatively bullish. Closed my long at 9305 and will open again at ~9138 support zone.

@CryptoWorldTina

​​Ethereum Closed Second Quarter With +68.9% Price Gain 📈

Q2 of 2020, marked for #ETH with the boom of DeFi projects built on Ethereum blockchain, ended with + 68.9% return.

More importantly, that for 6 months, Etherhas outperformed Bitcoin in terms of YTD performance: 84% vs 29%.

As we mentioned before, Q2 is historically the best three months for Ether: since 2016 no one Q2 has delivered a negative return.

However, from the same historical perspective, the third quarter of 2020 could be more challenging.

You can see a new report on CryptoRank - Ethereum Quarterly Returns

@CryptoWorldTina

🎤 Significant Volume Change

🍀 Symbol: LUN/BTC
🧨 Hourly Volume Increase: 922%
🔹 Price: 0.0001328
🚨 Trend: DOWNTREND

​​#ADA 1W UPDATE 📈

It seems that the NEW ROUND of growth has almost started on Cardano. The last thing on its way is the 1200 sats resistance level. If we see its breakout, we should expect a continuation of a growth to 1350 and 1850 sats resistances.

@CryptoWorldTina

🎤 Significant Volume Change

🍀 Symbol: QTUM/BTC
🧨 Hourly Volume Increase: 1406%
🔹 Price: 0.0002106
🚀 Trend: UPTREND

​​DNT/BTC has been in a sideways range accumulation for almost a year

We have a well-defined support at 60 sats slightly below major MAs

Now DNT is trying to consolidate above all that support cluster. Once EMA200 regained, next step is to challenge the prior swing high of 85 sats and then towards next resistance levels

Breaking below the support cluster will invalidate the bullish case for some time

@CryptoWorldTina