Decred (DCR) Sparks Interest: Blockchain Momentum Latest
- Odyssey r(OCN) an up 37.92% this week as the market heated up.
- Decred (DCR) spiked a little over 6% in intraday trading as it got listed on KuCoin.
- WGR – Wagerr just started “direct-chain” betting. The mainnet fork allows users to place bets against the chain, with the chain burning and minting coins as require
- BTG – Bitcoin Gold will be delisted from Bittrex today after details of an $18 million hack from May emerged this week.
- BTC – Morgan Stanley is looking into jumping into the Bitcoin derivatives market.
- Goldman Sachs Trading Desk- Goldman Sachs noted that the development of a Cryptocurrency Trading Desk was based on fake news. However, they are focusing on custody solutions for cryptocurrencies. UPDATE: The CFO of Goldman Sachs clarified that there is still ongoing development of a cryptocurrency trading desk.
- OKEx Founder – The founder of the number #2 cryptocurrency exchange by adjusted volume was questioned by the Shanghai authorities about potential fraud in the
BTC Market Activity
Bitcoin reaching the bottom of a triangle formation that started at the peak of bitcoin in December 2017. The end of this pattern may see a surge in the coin’s volatility. Bitcoin’s fundamentals suggest that with bitcoin still seeing unusually high, normalized, NVT, the coin is likely to depreciate through $6,200 before holding steady in the $4,000 range. However, our analysis of trading activity has found that there is a “buy wall” of orders at the $6,000 level determined to keep Bitcoin’s price above this resistance line. This buy wall on bitcoin’s order books may signify a buying pressure that could spark a bitcoin rally as selling pressure wanes.
- ADA, ADX, BTC, DCR, and XRP – On Wednesday, prior to the small rally in the cryptocurrency markets, we found that Cardano (ADA), AdEx (ADX), bitcoin (BTC), Decred (DCR) and Ripple (XRP) were all developing accumulation patterns. These trades were timed welled as the alt-coins markets soon rallied with bitcoin and Ethereum.