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Square makes 85m USD in BTC revenue.

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Payments company Square has reported USD 875m in bitcoin (BTC) revenue made via its Cash App service during the second quarter of 2020, which is over  600% year over year. According to the results report, Cash App generated USD 17m in bitcoin gross profit in that period, which is up 711% year over year. Bitcoin revenue and gross profit benefited from an increase in bitcoin actives and growth in customer demand, they added.

Global online investment platform and first digital asset securities business BankToTheFuture is moving its clients’ assets to its new trust partner, an Asian financial technology institution First Digital Trust (FDT), in order to give additional protections to client funds, they said in a press release. This marks their move away from traditional bank structure, they added, “as the fragile reality of traditional banking value-chain becomes more evident.”

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Crypto

Bullish momentum for Bitcoin.

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Bitcoin price gained bullish momentum above the USD 52,500 resistance level. BTC even cleared the USD 53,251 resistance and it is currently  showing positive signs. If the bulls remain in action, there could be a steady rise towards USD 55,100.

Similarly, most major altcoins are extending gains. ETH gained traction and it even tested the USD 2,510 zone. XRP/USD broke the USD 1.157 resistance and it might continue higher

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Crypto

XRP up 100% in a week.

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As organized pumping and dumping efforts continue to spread, the cost of XRP has multiplied in the previous two days, while other as of late siphoned coins have just smashed from their new highs in twofold digits.

On Saturday, XRP was exchanging at USD 0.281 before the convention strengthened and pushed the cost to USD 0.59 by Monday morning . A the hour of composing, the cost is up by 42% in a day and 113% in seven days. It bounced by 145% in a month and 144% in a year.

Additionally, XRP is back as the third biggest cryptoasset by market capitalization, after it slammed because of an administrative crackdown in the US.

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Crypto

Correction is the order of the day for cryptos.

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Bitcoin price is correcting gains from $ 40,500. The previous breakout zone near $ 36,550 could act as a strong support. As long as BTC is above $ 36,550, it might start a fresh increase towards the $ 40,500 level.

Many altcoins climbed over 8%, including VGX, IOST, DOT, CRV, BTCB, ATOM, HED, NEXO, LINK, and ABBC. Out of these, IOST started a strong increase after it broke the $ 0.021 resistance.

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