TOP 3 Bitcoin and Crypto News for Today: 12 June – Bullish BTC Trend, ETH Following $300 Plan, & EXIR Supports XMR Pairs

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Fri, 06/12/2020 - 22:03
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Geoffrey Schwartz
The bullish trend for Bitcoin (BTC) is still valid, Ethereum (ETH) is still following its $300 plan, and Iran’s EXIR now supports Monero (XMR) pairs trading.
TOP 3 Bitcoin and Crypto News for Today: 12 June – Bullish BTC Trend, ETH Following $300 Plan, & EXIR Supports XMR Pairs
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Today was a green day for the three major U.S. indexes after yesterday’s massive drop. The Dow Jones Industrial Average (DJIA) went up 477.37 points (+1.90%) to close at 25,605.54. The NASDAQ Composite went up 96.08 points (+1.01%) to close at 9,588.81, and the S&P 500 went up 39.21 points (+1.31%) to close at 3,041.31.

Gita Gopinath of the International Monetary Fund (IMF) said that the global economy was recovering more slowly than anticipated. Gopinath said that the IMF will release updated growth projections on June 24, which will likely be worse than April’s projects for a global contraction if the disease lingers. Fears of a second COVID-19 wave in the U.S. persist with half a dozen states reporting rising infection rates. This included Texas, Arizona, Utah, New Mexico, Florida, Arkansas, and both North and South Carolina.

As for news with the crypto sphere, some of U.Today Crypto News’ headlines include a bullish trend that is still valid for Bitcoin (BTC), Ethereum (ETH) is still following its $300 plan, and Iran’s EXIR has added support for Monero (XMR) pairs trading with the Iranian Rial (IRR).

Bitcoin (BTC) Bullish Trend Still Valid

Jack Sparrow (@BTC_JackSparrow), an anonymous trader and analyst, posted his short-term prediction on the price dynamics of Bitcoin (BTC). While the outlook does not look splendid for the bulls, they shouldn’t surrender, Sparrow says.

Sparrow, who updates his charts daily, adjusted his predictions according to the trend swings. Shortly after the fake ‘Bart Simpson’ rally, Sparrow warned the bulls about being engulfed by the bears as the price returned to the $9,500 level.

Image via Twitter
Image via Twitter

The prediction came true as the bears were able to apply pressure to Bitcoin (BTC) but failed to gain control of the cryptocurrency. This led to the next stage of the correction.

Sparrow also analyzes one-day timeframes, and the current one is in the green. Therefore, Sparrow believes that Bitcoin (BTC) traders should neither close their longs nor start seeking shorts.

Image via Twitter
Image via Twitter

The U.Today Crypto News team reminds its audience to treat the predictions of anonymous traders with extreme caution. Individuals should always do their own research or contact a certified investment analyst.

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Ethereum (ETH) Still Following $300 Plan Despite Drop

Michael van de Poppe, a seasoned cryptocurrency trader and analyst, updated his chart and predicted that the price of Ethereum (ETH) will surge above $300 in August 2020.

Recently, Ethereum (ETH) plunged to $226 on some spot exchanges after attempting to conquer the $250 mark twice. According to his analysis, the recent drop (June 10-11, 2020) will not affect ETH’s overall bullish trend.

Image via Twitter
Image via Twitter

Looking at the chart, the territory that is vulnerable for the bulls is between $210 and $220. In short, the recent drop was nothing more than a predicted correction before the next series of upsurges. The $250 mark still remains the next target price for the altcoin.

After $250, the next crucial level is near the $280 mark, which is where another correction may put some water in the bulls’ wine. After that, the altcoin’s upswing will not encounter any resistance on its road to a new yearly high of $300.

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Iran’s EXIR Now Supports Monero (XMR) Pairs Trading

Paul Janowitz, a Community Speaker for Monero (XMR), revealed that EXIR, a top-level crypto exchange for Iran, now supports Monero (XMR) pairs trading with the Iranian Rial (IRR).

Image via Twitter
Image via Twitter

Monero’s privacy-focused transactions represent an alternative to banking remittances, which are subject to sanction-related restrictions. Janowitz believes that this instrument will be utilized for getting around U.S. sanctions, which have been imposed on the Republic.

EXIR is a centralized crypto exchange with fiat instruments. Launched in Tehran in 2017, this crypto exchange offers Bitcoin (BTC), Ethereum (ETH), XRP, Bitcoin Cash (BCH), and Tether (USDT) for trading against the IRR.

As revealed in Foreign Policy, Iran’s President Hassan Rouhani highlighted the importance of Bitcoin (BTC) instruments to its national banking system. President Rouhani also says that a nationwide Bitcoin (BTC) mining strategy is under consideration by the country’s financial authorities.

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Geoffrey Schwartz is an Editor, English Copy Editor and Proofreader currently working for U.Today. He also works as a consultant and with SuissePic, a social project that unites more than 50 professionals in digital marketing, tourism, and based on a common love for Switzerland.

2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250

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Fri, 01/15/2021 - 18:02
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Vladislav Sopov
Ethereum 2.0 enthusiasts deposited whopping sum in its contract launched six weeks ago
2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250
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While crypto markets are trying to get out of the most painful correction in this bullish cycle, the Ethereum 2.0 deposit contract accomplishes another crucial milestone.

ETH2 deposit contract surpasses $3,000,000,000 level

According to leading Ethereum network observer Etherscan, the Ethereum 2.0 deposit contract (0x00000000219ab540356cBB839Cbe05303d7705Fa) allocated more than 2.5 million Ethers. New 32-ETH stakes are transferred to it every minute.

ETH2 deposit contract breaks above $3B
Image by Etherscan

As the correction of the Ethereum (ETH) price ended, ETH is changing hands at $1,225: the $1,250 level was too difficult for bulls to conquer. Meanwhile, even at press time, it is worth almost $40,000 to join the club of Ethereum 2.0 stakers.

Therefore, the USD-denominated value of assets locked in the contract surpassed $3 billion for the first time ever and keeps surging.

It should be noted that Ethereum 2.0’s deposit contract went live on Dec. 1, 2020, heralding the start of ETH2 Pase Zero or Beacon Chain, the inaugural stage of Ethereum 2.0.

Ethereum 2.0 “entry tickets” become really expensive

At press time, more than 52,267 addresses transferred money to the deposit contract.

Ironically, Black Thursday in Crypto (March 13, 2020) was the most convenient time to join Ethereum 2.0 staking with Ether at $95. Today, Ethereum (ETH) enthusiasts should pay 13 times more to have a minimum amount of Ethers required for staking.

Ethereum 2.0 is a proof of stake (PoS) iteration of the Ethereum (ETH) protocol. It replaces mining by staking and splits the whole Ethereum (ETH) network into several interconnected sub-chains (shards).

According to Staking Rewards analytical dashboard, annualized rewards for ETH staking are estimated between 10.4 and 10.6 percent.

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)