Ken Chigbo
Independent Analyst
Here's what you need to know on Thursday
Markets
BTC/USD is currently trading at $7100 (+5.15%), big bull action coming into play as the price smashes firmly above $7000 and barrier at $7500.
ETH/USD is currently trading at $190 (+3.25%), a wave of upside momentum has been observed, but supply is heavy ahead of $200.
XRP/USD is currently trading at $0.1950 (3.50%), the price is looking to retest the big $0.2000.
Among the 100 most important cryptocurrencies, the best of the day are UBT $0.237787 (+15.80%), DGB $0.009390 (+13.85%) XLM $0.060553 (+13.15%) The day's losers are KMD $0.540290 (-3.92%), SXP $0.0.582920 (-3.55%), SNX $0.701491 (-2.60%).
Chart of the day: BTC/USD daily chart
Market
Alex Mashinsky, chief executive officer (CEO) of cryptocurrency lending platform Celsius Network was recently speaking on Bitcoin and said the cryptocurrency didn’t see a significant surge at the start of the pandemic because “if you take any snippet over the last year, you would see very high correlation between BTC and the stock market.
The number of smart contracts deployed on the Ethereum network reached 1,971,632 in March, hitting a new all-time high and marking a 75% increase from the previous month. Dune Analytics, an online analytics platform, recorded the number of contracts deployed on Ethereum over the last 12 months with the average only registering around 670,000 contracts per month.
Tezos (XTZ), a proof of stake (PoS) based smart contracts blockchain network has outranked leading projects including Bitcoin (BTC), Ethereum (ETH), Cardano (ADA) and XRP in terms of technology, in the latest Weiss Ratings rankings.
Industry
Reports suggest that Starbucks and McDonald’s are among the many retail companies that will allegedly support digital yuan payments in Xiong’an, one of four pilot program locations. These rumours suggest the proposed Chinese digital yuan currency. According to Chinese publication Interchain Pulse, a promotion conference was held on April 22 in the city of Xiong’an, located close to Beijing.
Social payments application Bundle launched its service in Nigeria after incubation by leading cryptocurrency exchange Binance.According to an announcement on April 23, Bundle now allows its users to request, send and receive cash or crypto from their peers in Nigeria. By the end of this year, the firm plans to expand to over 30 African countries and provide a simple fiat on and off-ramp for crypto in the continent.
Quote of the day
Bitcoin getting new friends every day. It’s happening.
·
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Bitcoin Weekly Forecast: BTC nosedives below $95,000 as spot ETFs record highest daily outflow since launch
Bitcoin price continues to edge down, trading below $95,000 on Friday after declining more than 9% this week. Bitcoin US spot ETFs recorded the highest single-day outflow on Thursday since their launch in January.
Bitcoin crashes to $96,000, altcoins bleed: Top trades for sidelined buyers
Bitcoin (BTC) slipped under the $100,000 milestone and touched the $96,000 level briefly on Friday, a sharp decline that has also hit hard prices of other altcoins and particularly meme coins.
Solana Price Forecast: SOL’s technical outlook and on-chain metrics hint at a double-digit correction
Solana (SOL) price trades in red below $194 on Friday after declining more than 13% this week. The recent downturn has led to $38 million in total liquidations, with over $33 million coming from long positions.
SEC approves Hashdex and Franklin Templeton's combined Bitcoin and Ethereum crypto index ETFs
The SEC approved Hashdex's proposal for a crypto index ETF. The ETF currently features Bitcoin and Ethereum, with possible additions in the future. The agency also approved Franklin Templeton's amendment to its Cboe BZX for a crypto index ETF.
Bitcoin: 2025 outlook brightens on expectations of US pro-crypto policy
Bitcoin (BTC) price has surged more than 140% in 2024, reaching the $100K milestone in early December. The rally was driven by the launch of Bitcoin Spot Exchange Traded Funds (ETFs) in January and the reduced supply following the fourth halving event in April.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.