Daily market review for 26.07.2018

6
2018-07-26 14:31:03

On July 24, Singapore Airlines announced the launch of a loyalty program KrisFlyer, based on the blockchain technology. Now, customers of Singapore Airlines will have the opportunity to convert bonus miles to accountable units and use them in future with the airline's trading partners.

In order to join the loyalty program, Singapore Airlines customers need to register with KrisFlyer and install a KrisPay digital wallet, developed by KPMG Digital Village in partnership with Microsoft, on their phone. KrisPay is already available for download at the Apple Store and Google Play Store.

Commenting on the launch, CEO of Singapore Airlines, Goh Choon Phong, said:

“We are happy to introduce KrisPay, an innovative way, with the help of which KrisFlyer members can access their accumulated miles at any time using fingerprint. The KrisPay digital wallet integrates the use of bonus miles in everyday life, allowing all participants in the bonus program to instantly use the miles in daily transactions.”

According to the representative of the airline, to date, the program involves 18 partner companies in Singapore, including restaurants, beauty salons, food stores and gas stations. It is expected that in the near future other companies will join the program. Singapore Airlines reports that the first customers will receive additional discounts.

For the moment, KrisFlyer is the first loyalty program in the world, built on the basis of blockchain technology.

Now, let's move to the technical analysis of Bitcoin (BTC):

Bitcoin went to a correction, as we had expected, but not so deep. It went down from a height of $8,450 to $8,015. Now, we are observing the “inverted pennant”, which is usually worked out by the downward price movement. The nearest resistance level is $8,400. The nearest support level is $8,000.

Technical analysis of Ethereum (ETH):

Ethereum is now in the “ascending triangle”, which gives us the right to expect further upward movement. The nearest resistance level is $500. The nearest support level is at $460.

Technical analysis of Ripple (XRP):

Ripple, as well as ethereum is in the “ascending triangle”, which gives us the right to expect a further upward movement. The nearest resistance level is $0.45. The nearest support level is at $0.43.

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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