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Daily Dose: Digital Yen

DATE POSTED:July 3, 2020
 Digital Yen

BTC seems to have established another lower high, but support has been strong at around 9,000. Price is now just slightly below 10-day MA and is losing bullish momentum, but could just as easily break through and go for a retest of resistance at around 9,700. Key levels remain to be at 9,700-10,000 for resistance and 8,600-8,700 for support - although 9,000 is looking to be a key level as well as it continues to try to hold up over the weekend. There is a slight bearish bias heading into the first weekend of Q3.

Global market cap is at $260B, while BTC's market cap is at $168B.

Bank of Japan Will Begin Experimenting With a Digital YenThe Bank of Japan announced on Thursday that it would experiment with a CBDC to check its feasibility from a technical perspective Digital YenHisashi OkiCointelegraph Digital Yen

The Bank of Japan announced that it will begin experimenting with a central bank digital currency (CBDC) to check its feasibility from a technical perspective. In a report called "Technical Hurdles for CBDC," the bank stated that it would "check the feasibility of CBDC from technical perspectives, collaborate with other central banks and relevant institutions, and consider introducing a CBDC." While a timetable hasn't been revealed yet, the bank does acknowledge that there are two major technical hurdles - universal access and resilience. The bank is also considering whether or not to use a blockchain for the CBDC, with both options having their own merits.

Huobi Becomes First Major Exchange to Run a Chainlink NodeHuobi has become the first major exchange to run a Chainlink node in an effort to improve data authenticity and integrity Digital YenJoshua MappersonCointelegraph Digital Yen

Cryptocurrency exchange Huobi is the first major exchange to run on a Chainlink node. According to a Cointelegraph report, Huobi will integrate their price data with Chainlink's ecosystem to help improve its own data integrity and accuracy of price information. This initiative will allow the exchange to sign its own price data and users can confirm that any exchange data coming from the Huobi Node is authentic and direct from the source.

The first batch of price pairs will include: BTCETH, BTCUSDT, ETHUSDT, and LINKETH. Other pairs will also be added soon.

Austrian Crypto users will soon be able to pay using crypto at more than 2,500 locations with the help of A1 payment, one of the largest mobile network operators in the country. According to an announcement by Austrian fintech firm Salamantex, A1 Payment platform is now integrated with their Payment Service Software and merchants will begin to accept Bitcoin (BTC), Ether (ETH), or Dash, instead of cash or credit cards in summer 2020.

Austria's stance towards crypto is positive and the country is pushing for cashless payment transactions "as far as possible".

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