Cryptocurrencies Market News: JPM offer banking services – Monero pushing higher

May 14, 2020 Editor Monero 0

  • Sentiment in the crypto space is positive on Wednesday as all of the majors trade higher.
  • JPM to offer banking services to bitcoin exchanges.
  • Monero is the outperformer on Wednesday pushing over 5% higher. 
  • Vitalik Buterin denies confirming July launch of Ethereum 2.0.

Sentiment in the crypto space is positive on Wednesday as all of the majors trade higher.

All of the major cryptocurrencies are higher mid-week as Bitcoin is over 3% in the black. The rest of the majors are in a positive mood too as Ethereum pushed 3.61% higher, Litecoin moves 1.85% to the good and XRP rises 1.77%. 

There still has not been any massive spike in the price of Bitcoin following the halving event. The key high point of the day is 9200.00 and the bulls will be aiming for that point if they want to target the psychological 10K mark. On the hourly chart, the 200 period simple moving average has been used as a resistance point too and this is the second time recently the bulls have stumbled at the 200 SMA. 

JPM to offer banking services to bitcoin exchanges.

Originally reported by WSJ, the USD 2.6 trillion American bank will start offering bank accounts to Gemini and Coinbase cryptocurrency exchanges. The agreement which was solidified last month, noted that J.P. Morgan will provide deposit, withdrawal and transferring services for Coinbase and Gemini customers with Automated Clearing House (ACH) infrastructure.

Monero is the outperformer on Wednesday pushing over 5% higher. 

Monero has been trading well in recent session and on Wednesday pushed over 5% higher. The price has now broken the red trendline on the chart and looks set to hit the green resistance zone at 65.82. Beyond that, the high on the chart stands at 67.67 and the bulls will be looking to take this out to test the psychological 70.00 zone. 

Vitalik Buterin denies confirming July launch of Ethereum 2.0.​​​​​​​

Ethereum found Buterin has cleared up the mishap that led the market to think ETH 2.0 was coming soon than first thought. He has now since stated:

Yeah I did not say July. Perhaps the question contained the word July but I did not hear July when it was asked.

OK I definitely should have heard July in the question, it was my mistake.

My actual stance is that eth2 is ‘on track’ in that there aren’t any unexpected bumps in the road, testnets are coming along, etc, but I defer to the client devs on timelines and if they are now saying ‘Q3’ more broadly then I believe them