News of crypto industry
New BTC records on weak volumes
The latest week ended with a new wave of BTC growth resulting in the growth of the majority of altcoins. The largest cryptocurrency broke through important technical and psychological level of $9000, indicating the clear advantage for buyers. Researcher Alex Krüger in his twitter noted the closest technical resistance levels for BTC: $9600, $10000, $11500-$11750, $13000, $15000, $17400, $20000.
Other top 10 coins also finished the week with the growth, which is natural for cryptocurrency market. The best dynamics is demonstrated by EOS, followed by Ethereum, Bitcoin Cash and Ripple.
Bittrex limits access for US traders
Bittrex cryptocurrency exchange continues to limit the capabilities of American users. This time the access to 42 digital assets will be denied for them.
These changes take effect on Friday June 28, but they will not apply to traders outside the United States. Previously there appeared information about the closure of access for US investors to 32 assets from June 21. Not only the date has changed, but also the number of assets to which access will be limited. This is a negative fundamental factor for the mentioned coins.
Bittrex will send the guidance on what US customers can do with their tokens. The main message of this notification will be a warning about the need to get rid of the listed coins before the appointed time. Of course, the sale of these coins by all American traders and investors will put pressure on their prices.
Ripple partners with MoneyGram
Ripple announced a partnership with MoneyGram for cross-border payments and foreign exchange settlement using xRapid. As part of the agreement, Ripple agreed to provide a $50 million capital commitment to MoneyGram, enabling Ripple to spend up to $50 million in exchange for equity in MoneyGram over a two-year period. The partnership will focus on Ripple’s xRapid. The service reduces the reliance on pre-funded nostro accounts, enabling instant currency settlement in a destination currency using XRP as an intermediary.
Facebook announces Libra coin and Calibra Wallet App
Sending money will be as simple as sending a message or photo for users of its WhatsApp and Messenger products, Facebook claimed and announced Libra. The network is scheduled to go live sometime in 2020 and its cryptocurrency is considered as “reinventing money”.
The currency’s tight integration with Facebook is underscored by the release of a new Facebook app called Calibra, essentially a wallet app for the Libra coin. Commenting on the news, Yoni Assia Co-Founder and CEO of eToro, said: “Back in 2017 in his Harvard commencement speech Mark Zuckerberg talked about the need for people to have access to money in order to pursue their purpose. With 2 billion users, Facebook has the potential to create one of the largest financial platforms in the world.”
“Crypto adoption is about more than money. It’s about global and local politics and the separation of state and money. It can be a powerful tool. Facebook’s Libra could mean greater financial inclusion and greater access to the digital economy.”
