Crypto Today: Bitcoin bulls on the launchpad to rocket to further heights
Here's what you need to know on Tuesday
Markets
BTC/USD is currently trading at $7350 (+2.25%), solid foundations have been laid at the $7000 mark, being using as a launchpad for greater moves north.
ETH/USD is currently trading at $172 (+4.45%), momentum is within the bulls court, with a return into the psychological $200 mark eyed.
XRP/USD is currently trading at $0.20 (+4.20%), the bulls have solidified recovery with a trend defining move back above $0.20.
Among the 100 most important cryptocurrencies, the best of the day are VET $0.0004017(+17.80%), DGB $0.006552 (+16.35%) LINK $0.2.77 (+16.15%) The day's losers are SXP $2.14 (-3.92%), NMR $16.56 (-2.55%), XNS $0.996343 (-0.70%).
Chart of the day: BTC/USD (daily chart)
Market
The open-source pay-to-surf browser, Brave, will soon have its signature token be given more trading options and will be done through Gemini. According to a Gemini blog post, the company stated that it would soon integrate support for the Brave platform’s token, the Basic Attention Token. With these integrations, users will be capable of depositing their BAT into their respective Gemini accounts. The integration will be enacted on the 24th of April, 2020, and it’s said that trading will begin shortly after that.
Chinese Bitcoin mining pool BytePool is shutting down its operations despite a significant increase in the hashrate in recent days. Reported by a local Chinese media, the decision was taken around the concerns of upcoming halving when the mining rewards will be halved from 12.5 BTC to 6.25 BTC per block.
Regulation
Coinhouse, a crypto trading firm, has become the first company of its kind to be registered by France’s Financial Markets Authority, or AMF. The AMF, in turn, is the top financial regulator within France. It is now capable of attempting to get approval to operate as a banking service provider within France.
Industry
Major cryptocurrency exchange Bitfinex has become the latest exchange to offer staking services to customers. Announced April 3, Bitfinex will offer staking rewards up to 10% per annum on crypto assets underpinned by a Proof-of-Stake algorithm. “We’re committed to engaging our existing users and the wider community with new products and innovations. The Bitfinex Staking Rewards Program provides our users with another avenue to increase their holdings on our platform.”
According to top government officials in Japan, the current national tax system is not yet capable of accepting declarations of digital assets, potentially leading to outflows overseas.
China‘s central bank has sent one of its strongest signals yet of a commitment to creating a digital version of the yuan. “The People’s Bank of China (PBoC) will undoubtedly further its research and development of the national digital currency with enhanced top-down design,” the bank said.
Quote of the day
WHY IS DOLLAR DYING? 2008 Fed printed $4.5 Trillion to save rich. 2020 Fed will have to print $6-8 Trillion, maybe more to save US economy. There is only $9.5 Trillion in gold in WHOLE WORLD. Buy real gold silver Bitcoin. No paper ETF gold or silver. PhDs at Fed are IDIOTS.
Author
Ken Chigbo
Independent Analyst
Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.
