💹 Market overview May 07, 2021
Have a nice and productive day for everyone, and for some of them, more recently, fruitful work on the "farm"! As always, I offer you a daily review of the market news:
BTC. According to the blockchain analysis, a significant number of bitcoins have been withdrawn from major exchanges since the beginning of the month, which indicates a decreasing pressure from sellers. "Stablecoins Ratio (USD)", which shows the ratio of BTC stored on exchanges (in dollars) to the reserve of all stablecoins on trading platforms, also indicates weak sales. As expected in yesterday's review, the asset declined to the middle line of the trading channel, over which the instrument is currently consolidating. To develop an upward movement, bitcoin needs to close above the exponential moving average of 21 EMA 4 Hc, followed by a return above the proto-trading level at $56,300. It is possible to re-test the asset of the middle of the descending channel.
ETH. Ether updated the price high – $3605.4 on the Binance exchange, after which it went to the correction to the support level at $3375. The nearest resistance is $3,480.
One of the largest automobile insurance companies in the United States, Metromile, whose shares are traded on the stock market, announced that it will soon begin accepting bitcoin as payment for insurance, and will also make payments for insurance cases in cryptocurrency . It will be the first company in the world to start paying insurance in bitcoin. In the second quarter of 2021, Metromile plans to purchase $10 million worth of digital gold. The company said that " allowing payments in cryptocurrency will support its desire for fairer insurance and increase the financial stability of policy holders."
The addition of the main cryptocurrency as a means of payment for its goods and services by the company makes it more attractive to customers due to the greater flexibility in the payment system, creating a competitive advantage. By and large, in the absence of tighter regulation of digital assets, this trend will increase and in the near future, the range of firms working with cryptocurrencies will significantly expand.
The announcement of the upcoming testnet of the Altura platform marketplace (ALU) caused the ALU to grow by 50% (against the dollar).
The listing of the Bridge Oracle (BRM) project on the Comex exchange led to a 35% increase in the price of BRG at the peak (against the dollar).
The successful release of the LIsk SDK 5.0.5 by the Lisk platform increased the cost of LISK by 20% (to the dollar).
U.S. stocks were higher after the close on Thursday, as gains in the telecommunications, finance and raw materials sectors led shares higher. At the close on the New York Stock Exchange, the Dow Jones rose 0.93%, reaching a historic high, the S&P 500 index rose 0.82%, the NASDAQ Composite index rose 0.37%.
The total value of digital assets over the past 24 hours has increased by 1.3%, the dominance of the main cryptocurrency has decreased by 1.5%, events are developing for the joy of altcoins, whose capitalization has increased by 3.5% and at the time of writing is $1.261 trillion according to Tradingview. So far, there is no reason why this trend will not increase.
Posted Using LeoFinance Beta