Market review, May 20, 2020

2020-20-05 12:11:22

According to Adam White, CEO of Bakkt, the cryptographic platform for institutional clients, more than 70 clients have already used the company’s custodial services.

The company’s blog reports that thanks to the partnership with insurance broker Marsh, the platform can offer users of its custodial service more than $500 million in asset insurance. Also, the platform has passed the test of cyber-security risk management SOC-1 and SOC-2.

“We have already offered $125 million in insurance at Bakkt Warehouse but now, our customers will be able to get additional insurance for over $500 million,” White said.

The company’s CEO also said that Bakkt is working with two major financial institutions to create its loyalty product. Once launched, the product will be available to more than 30 million users.

It should be noted that in February, Intercontinental Exchange acquired Bridge2 Solutions, a developer of loyalty programs, and integrated it into the Bakkt structure.

Technical analysis of Bitcoin (BTC):

Over the past day, the price of bitcoin grew to the resistance level of $9,840. Then it rose again to $9,900. Now, the price of bitcoin is $9,740. In the future, we predict an uptrend. The nearest resistance levels are $9,840, $9,950, $10,000, $10,250, $10,500. The nearest support levels are $9,700, $9,400, $9,200, $8,600, $8,150, $7,900, $7,600, $7,500.

Technical analysis of Ethereum (ETH):

Over the past day, the price of ethereum rose slightly to the resistance level of $215. Now, it is $213. In the future, we predict an uptrend. The nearest resistance levels are $216, $218, $226, $245. The nearest support levels are $212, $209, $206, $204, $200, $198, $193, $189, $186, $183, $178, $174, $169.

Technical analysis of Ripple (XRP):

Over the past day, the price of ripple was in the flat between $0.2525-$0.2060. Now, the price of ripple is $0.2050. The nearest resistance levels are $0.2060, $0.21, $0.2150, $0.22, $0.23, $0.2350. The nearest support levels are $0.2020, $0.2, $0.19, $0.1820.

Posted: 20.05.2020 | Alex Feldman
Disclaimer. This review is only for information purposes and cannot be considered as a proposal or an indication to perform certain transactions in the financial and commodity markets. The estimates and recommendations in the review are the personal opinion of the company's analysts. The company's view on the prospects for individual financial instruments is valid as of the date of the report. The Company does not assume any liability and liabilities for compensation for damage that may result from the use of this report.
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