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Here are the top 5 crypto news for the day!
Let’s dive into the news headlines one by one and see how they’ll be affecting the crypto space as we know it, in the coming days.
Death Cross is Appearing Over Bitcoin Price Chart
Bitcoin is nearing a potential death cross on its daily price chart, which should occur in the next week or so. A death cross occurs when the 50-day moving average crosses below the 200-day moving average. The so-called death cross typically results in massive price volatility resulting in either bullish or bearish price momentum for the flagship cryptocurrency.
395,903 ETH Exit Coinbase, CryptoQuant Founder Points at OTC Deals
The Founder of CryptoQuant, Ki Young Ju, shared a tweet reporting that a whopping 395, 903 ETH left Coinbase on June 9. The analytics platform drew a chart to share its findings. According to CryptoQuant, a large amount of Ethereum was withdrawn as the cryptocurrency’s price continues to trend in the red.
Gemini Exchange Acquires Crypto Custody Specialist Shard X
Gemini, a cryptocurrency exchange and custodian, has bought crypto startup Shard X for an undisclosed sum of money. The latest deal is part of the firm’s acquisition spree, which saw NFT platform Nifty Gateway and crypto credit card company Blockrise become part of Gemini.
Bitcoin Records 6% Gains as Analyst Predicts Price Set to Hit $40,000
Bloomberg’s Senior Commodity Strategist Mike McGlone has suggested that Bitcoin price is “more likely” to hit $40,000 than $20,000. His prediction coincides with a 6% spike experienced by the largest cryptocurrency on June 9. Analysts believe Bitcoin is on a bullish track with El Salvador adopting the digital currency as legal tender.
Fintech Bank Revolut Adds DOGE to its Crypto Offering as Demand Rises
The Fintech Bank Revolut has recently added Dogecoin to its crypto offering to meet the increasing demand for crypto-asset. As a matter of fact, Dogecoin has become the thirtieth coin to be added to the list of crypto investment offerings of the firm.