BTC is currently trailing with the 10 EMA and forming a potential consolidation in the daily chart. Sustained movement above the MAs in the daily could be a good indication for a possible retest of the recent key resistance. Otherwise, a break below the 10 EMA could send price to test 50MA for next potential support. Key levels remain with 10,900 as immediate support and 12,000 - 12,100 as key resistance.
Global market cap is at $344B, while BTC's market cap is at $208B.
Basler Kantonalbank (BKB), a state-run bank in Switzerland announced its plans to launch cryptocurrency services through its banking subsidiary. According to a report by Finews, Bank Cler - a BKB subsidiary, are working to put up services that will enable customers to trade and store their cryptocurrencies. A spokesperson at BKB confirmed the announcement saying that the launch of these products is a response to the increasing demand for crypto services in the country. There are no further details regarding the cryptocurrencies that will be available and development is still in its early phase.
Switzerland is known as one of the most "crypto-friendly" countries in the world. The Hypothekarbank Lenzburg became the first Swiss bank to provide company accounts for blockchain and crypto-related fintech companies in August 2018.
The Russian Federation has banned anonymous deposits to online wallets in a move that is supposed to curb illegal activity such as the financing of terrorism and the illegal drug trade. The ban will affect the 10 million users across the country that use popular services such as Yandex, WebMoney, PayPal, and Kiwi. Some citizens use these anonymous wallets to purchase cryptocurrency, although exact numbers are unknown. While experts say that these measures will initially have no effect on the blockchain space, the ban may eventually be applied to virtual currencies as well.
2gether, a European cryptocurrency exchange platform was recently targeted by hackers who managed to steal over 1.183 Euros, around 1.39 million USD, from the service's investment accounts. The hack, which occurred on July 31, affected crypto investment accounts and exposed user passwords according to the CEO of the firm Ramon Ferraz Estrada. Estrada noted however that Euro accounts and wallets are "safe." To compensate for the stolen funds, 2gether has offered customers its native 2GT token at a price equivalent to 5 cents each, while the team will also attempt to allocate additional funds to cover any remaining costs.
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