• Ethereum managed to break above $215.00
• Tether displaced Ripple from the third position by market cap
The cryptocurrency market trade mixed during this this week. Major cryptocurrencies moved in a tight range after wild gyrations during the first two days of the week. At the end of the yesterday's trading session volatility increased. During today's session majority of cryptocurrencies are climbing slightly higher. The total market capitalization increased to almost $279 billion. Bitcoin maintains a dominant market position of 64.8%.
Bitcoin struggles with the local $9 800 resistance level
On Tuesday, Bitcoin made an attempt to break above $ 10 000. The price temporarily reached $ 10 313, however bulls failed to keep prices above this level. Today Bitcoin is approaching yesterday's highs at $9 839. On the other hand, volatility appears to be shrinking, further diminishing the chances of breaking above$10 000 before the weekend session.
BITCOIN is trying to break above the local resistance of $9 800, however, all the attempts have been futile so far. Local support can be found at $9 244.32. Source: xStation5
New network upgrade makes Ethereum Classic fully compatible with Ethereum.
Ethereum managed to break above the important resistance level at $215.00 on Saturday. The second most popular cryptocurrency launched this week in bullish mood, however the next level of resistance at $250 turned out to be too strong and price pulled back towards $223.00. During today's session, increased buyer activity can be seen and the price of Ethereum has so far risen by 1.9%. On the weekly basis Ethereum has gained over 11% and is one of the best-performing digital currencies.
Ethereum Classic (ETHERCLASSIC) developers announced that system nodes are operating at 100% in full post-Phoenix upgrade which took place on June 3. The upgrade was first mentioned by Ethereum Classic Labs (ETC Labs) after a consensus among stakeholders with the ETC community. Phoenix upgrade has also made Ethereum Classic “completed compatible” with Ethereum. "This upgrade demonstrates the robust development underway on Ethereum Classic, as it is the third hard fork in the last year; and reflects the strong community consensus among ETC stakeholders"
Ethereum is climbing towards major resistance at $250.00 As long as the price sits above the ascending trendline, the upward move looks to be more probable. Local support is located at $231.82 Source: xStation5The Office of the Comptroller of the Currency which is responsible for regulating banking sector in the US will be seeking the public’s opinion on digital activities among national banks and federal savings associations. They also include activities related to cryptos and digital assets. A statement by the OCC reckons that cryptocurrency is: "Part of the agency’s effort to support the evolution of the federal banking system and its ability to meet the needs of the consumers, businesses, and communities it serves." The organization added that all comments may help develop specific policy proposals or future rulemakings.
Tether (USDT), which is currently the largest stablecoin in the cryptocurrency industry is likely to continue with the impressive growth to an extent of toppling Ethereum from the second spot, according to Bloomberg. Tether which have market cap of $9.2 billion already surpassed Ripple whose capitalization is $9.0 billion. Meanwhile Ethereum, has a market cap of $27 billion. It will take some time before Tether will be able to overtook Ethereum, however, if demand will increase, its market cap could improve significantly over time
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