2 minutes reading time (385 words)

Daily Dose: Bitcoin Trending

Bitcoin has remained in a range after retesting the 9,500 level resistance; rejections indicate selling pressure around this area, with support around 9,120. The 10 EMA is a possible trail support if price is able to hold within the current range, while a bull scenario is likely if price is able to break the 9,500 - 10,000 level. A break down below 9,000 - 8,800 is a sign of invalidation.

Twitter has added the Bitcoin emoji, with co-founder and CEO Jack Dorsey tweeting the symbol out yesterday. In his tweet, Dorsey also tagged Unicode, the consortium managing the character standard, in an apparent suggestion for them to do the same. Now whenever a Twitter user writes the Bitcoin or BTC hashtag, an image showing its symbol appears next to it. This has cause #Bitcoin to trend worldwide within 24 hours. 

Ripple has released 500 million XRP tokens from its escrow, the latest move in a series of planned releases scheduled to occur on the first of every month for 55 months. Their aim is to provide incentives for market makers, however Ripple still remains in control of newly-released tokens.

XRP is now up over 25% YTD. CEO Brad Garlinghouse has hinted that Ripple could conduct an IPO sometime in the next twelve months.

MERJ Exchange, licensed stock exchange in Seychelles is partnering with CurioInvest to create tokens which would represent shares in "supercars" like the Ferrari. The tokens will be available to both institutional and retail investors but majority of the purchase is expected to be coming from institutional investors and from regions with auto import restrictions like China. The first car to be listed on the exchange is the Ferrari F12tdf which costs $1.1 million. MERJ also plans to list as many as 500 vehicles.

MERJ is one of the first compliant national exchanges to list its own tokenized equity on the ethereum blockchain. Retail investors will have direct access to the exchange through a computer or mobile app, while institutional investors will have access through traditional broker channels.

This Daily Dose it brought to you by SCI News Channel.

 

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