What Happened Today in Crypto?

BTC/USD: The Price of Bitcoin fell to its previous support

In today’s session, BTC fell again after slipping below its 6493.80 support. However, the pair of BTC/USD managed to bounce at 6437.85 and currently working its way back to the uptrend channel. While BTC trades at 6452.72 now, it needs to break and maintain the 6460.00 mark before heading up to 6474.75 and 6493.80. Furthermore, to hold the current trend, BTC must stay above 6437.85.

eToro Launches new cryptocurrency wallet

eToro, a global social trading platform on November 6 unveiled its digital currency wallet that may support four virtual coins initially. These new virtual currencies include Ethereum (ETH), Litecoin (LTC), Bitcoin (BTC), and BitcoinCash (BCH).

The eToro wallet is a mobile app accessible on the Google play store and iOS. One of its interesting features includes a multi-signature security, which ensures the safety of customers’ private keys. Furthermore, the wallet has a wonderful user-friendly interface.

According to the CEO, Yoni Assia, “We believe that in the future all assets will be tokenized and that crypto is just the first step on this journey. Just as eToro has opened up traditional markets for investors, we want to do the same in a tokenized world. The eToro wallet is a key to this.”

Winklevoss Twin former CEO of BitInstant, Charlie Shrem

Recently, the founders of Gemini Trust, Tyler, and Cameron Winklevoss sued the former CEO of BitInstant, Charlie Shrem. This recent legal developed was revealed in an in-depth report by this New York Times Piece, which has brought Shrem under intense fire on the legal stage as he was previously sentenced to prison on account of assisting fiat-to-illicit good transactions through BitInstant.

After a year in prison, Shrem was left with nothing. He started working as a dishwasher in a local diner. However, after some hesitation and deliberation, he stepped back into the cryptocurrency ecosystem. He took up speaking positions and joined/advised some prominent startups include Decentral, Jaxx, and Changelly. Considering this, he has two powerboats, two Maserati, and $2 million home in Florida within the past two years. This has stirred up old dust as Tyler, and Cameron Winklevoss have taken him to court insisting that these assets were part of the funds he embezzled at BitInstant.

Bitcoin Cash dip by 5% with Bitcoin remaining stable

Bitcoin Cash has dropped 5% of its value against the US dollar after experiencing a 50% gain within the last three days. The volume of Bitcoin Cash, which hung around $1.4 billion as at November 6, 2018, has dipped to $950 million, which is equivalent to a 32% drop. On a weekly basis the volume of Bitcoin Cash, fluctuate between $750 million to $200 billion.

Stellar (XLM), EOS, and Ripple (XRP) experienced large gains against the US dollar and Bitcoin recorded a dip of 3 to 5 percent. Furthermore, XRP dropped back to its $0.5 mark. In spite of this, Bitcoin remains stable within the last 48 hours with a 2% increase against the US dollar.

Cryptocurrency Millionaire wants to build a blockchain city

Jeffrey Berns, a lawyer, and cryptocurrency millionaire has acquired over 67,000 acres of land in Northern Nevada to set up a city that will run entirely on the blockchain. Berns who is the owner of Blockchain LLL under which the property was bought aims to create the first world distributed collaborative entity that will benefit the blockchain industry through education and other initiatives.

Reports have indicated that Berns is creating a city that will solely run on the blockchain. Rather than being controlled by big corporations and government, the blockchain-based city will hand over the power in the hands of the people while using cryptocurrency as the coin of the city.

Disclaimer: The information on this site is provided for discussion purposes only, and should not be misconstrued as investment advice. Under no circumstances does this information represent a recommendation to buy or sell securities.
Ali Raza is finance editor at TheOofy. He is a journalist with experience in web journalism and digital marketing. Ali holds a master degree in finance and enjoys writing about cybersecurity, cryptocurrencies, and technology.