Author: Anna Galvez

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Crypto

IoTeX (ITX) Gets On Binance And IOTA (MIOTA) Dealt With Norway’s Leading Bank, DNB

The first day of June brings a big growth for two of the most loved cryptocurrencies of the moment, the IoTeX (IOTX) and the IOTA (MIOTA), the most important cryptos for the technological trends of the present-days, the IoT (Internet of Things) and distributed ledgers.

IoTeX (IOTX) has increased by more than 130% during the last day

Specifically, IoTeX (IOTX) has increased by about 130 % in the last 24 hours, according to CryptoMarketCap, trading at $0.065. The massive growth occurred shortly after Binance, the top-end cryptocurrency exchange in the world, reported the IOTX listing.

Thanks to this significant appreciation, IoTeX (IOTX) has managed to get on the 157th place among all the cryptocurrencies in the world, by market cap with more than $75 million.

Being listed on Binance is a great achievement for IOTX which, until now, only dealt with small-volume cryptocurrency exchange platforms, namely, on gate.io and KuCoin, which both listed this crypto coin last week.

IOTA (MIOTA) has also raised by more than 8% in the last 24 hours

The far more stable IOTA (MIOTA) crypto coin also registered substantial returns today, rising by 8.35% in the last 24 hours, at the moment of this writing, trading at $1.86, while all the other top 20 cryptocurrencies have registered lower gains or even losses.

A statement published by the IOTA Foundation stated that they recently concluded a Memorandum of Understanding with the leading Norwegian financial services corporation, Den Norske Bank ASA (DNB).

As announced in the IOTA Foundation statement, both IOTA (MIOTA) and the Norwegian DNB will be working together in pursuit of discovering how IOTA Tangle technology, described more as a DAG (Direct Acyclical Graph) than as a blockchain, might be beneficial for the bank’s infrastructure of transaction data.

This Friday marks an end of a very full week for IOTA Foundation and its IOTA (MIOTA) crypto characterized by the announcement of Trinity Mobile crypto wallet app.

Categories
Crypto Markets

Institutional Investors Might Trigger A Bullish Race In The Cryptocurrencies Market

One hypothesis that hints that the crypto market is up for a big uptrend, even bigger than the surge recorded during the last year, arises from the growing cryptocurrency demand. Powered by market’s popularity, connoisseurs forecast that more and more institutional investors will seek to take a part in the action and grab a big piece of this pie.

As increasingly more cryptocurrencies are emerging on the mainstream markets and forming alliances with major investors including PwC, Goldman Sachs, and Santander, among others.

Big institutional investors can’t stay far for too long and this will boost the cryptocurrencies market

The best part regarding these institutional investors is that these entities are not used to deal with low-profile investments. Thus, they will come to the cryptocurrencies market only to place large-scale investments, so helping the market grow in terms of volume of transactions and market cap.

On the other hand, when reviewing the cryptos’ partners, it might be possible to not observe the bigger picture. Therefore, any news regarding the partnerships between big companies and cryptos seem isolated events. However, on the overall, firms like Facebook, MoneyGram, Santander, or Walmart, all of which are already involved in the cryptocurrencies market, to some extent, might influence other companies of the same level to go with the stream and get involved in the cryptos.

And, once it will happen, there will be a competition going on between the institutional investors, which will benefit only the cryptocurrencies market, in the end.

Cryptocurrencies market seeks widespread adoption

In short, the more companies will invest in cryptos, the more the market will stabilize and grow. Basically, this would mean widespread adoption and money infusions of up to $10 billion might be experienced which, eventually, would lead to a significant boost of the cryptocurrencies market.

All these, however, are founded on simple hypothesis and a market that operates in an almost perfect setting but, above all, it could happen if the big institutional investors would see the importance and the bright future of the cryptocurrencies market as both digital currencies and blockchain technologies.

Categories
Crypto

Ripple (XRP) Aims A Re-branding That Could Help XRP Boost By 200%

We were able to watch a Ripple (XRP) community event which culminated with a Snoop Dogg concert. But, that wasn’t the most significant aspect of the event. More interesting was the rebranding of Ripple and, as everybody knows, a change in a brand doesn’t occur without a good reason behind it. In Ripple (XRP) case, might be the desire to get on Coinbase cryptocurrency exchange. However, Ripple wants to rebrand itself, a fact which could boost XRP by 200%.

Ripple (XRP) & Coinbase

As we speak, the authorities are struggling to claim XRP as a security and some investors support the officials in this action.

Thus, Ripple team knows that the XRP will only be able to boost its value against the USD if it will get listed on big cryptocurrency exchange platforms. And, as it has been revealed in the latest news, Ripple is actually going after Coinbase.

But Coinbase cryptocurrency exchange and other major ones will not be interested in Ripple (XRP) as long as XRP has no legal status and is surrounded by turmoil.

This is why Ripple team re-thought its business and started to rebrand itself in order to increase the interest of big cryptocurrency exchange platforms in Ripple (XRP).

Ripple rebrand can help XRP boost by 200%

As reported on Bitcoin.com, Ripple wants to dissociate itself from its homonymous cryptocurrency in order to “de-securitize” the Ripple (XRP) crypto token.

The odds that XRP to be claimed as a security, in the conditions that Ripple holds the largest amounts of its crypto, are really big, thus, such a classification would have a substantial impact on the XRP price and its performance on the US stock exchanges. In this regard, Ripple would like to separate from XRP but could bump into more trouble in convincing people about the reliability of such a measure.

But, as XRP would become an asset on its own, a listing on one of the major cryptocurrency exchanges such as Coinbase, as well as on the US stock exchange, would bring more transactions, market cap, and value against the USD for the XRP. Thus, Ripple rebrand can help XRP boost by 200% only in the before-mentioned conditions.

Categories
Crypto News

China Might Eventually Give In To Pressure And Lift The Cryptocurrency Ban

Just 8 months after China was featured in a discussion involving its ban on cryptocurrency trading, rumors are mounting regarding the second-largest economy in the world, one that could ditch the cryptocurrency ban and make a 180-degree twist. According to a Chinese newspaper, the Chinese people stated that the crypto ban is too strict and a cryptocurrency regulation on the models already adopted by the US or the European Union might be more appropriate.

There is a growing belief that simply saying no to Bitcoin will not be the final solution to the problem of cryptocurrency. A more fundamental approach would be to adopt the new technology without compromising the country’s financial system.

The naming of a new Central Bank of China Governor, which happened in March, raised questions about softening the country’s official position regarding the cryptocurrencies market.

China has been an important asset in the cryptocurrencies world and, hopefully, it will return to that status

Before March, however, some rumors were talking that, upon a discussion between China’s Central Bank and Huobi, Chinese official started to rethink their approach regarding cryptocurrency exchange, indicating that these operations with cryptocurrencies might be reopened in China, eventually.

Although many people in China are actually very inventive in bypassing the cryptocurrency ban, China is in a tricky situation because on the one hand, it would like to take advantage of this new technology but, on the other hand, it would like to see cryptos implementation to be done following the China’s principles, namely, nationalism and protectionism.

Many cryptocurrencies networks were created as China has always been a very significant player in the crypto-verse until this country turned around and eventually compromised the success of many.

Even more, more and more people, even outside of China, are saying that the Chinese cryptocurrency ban is an insult to all those people who contributed to the technological gains China registered in the last decade, which include blockchain and cryptocurrencies.

Categories
Crypto Markets

ICON (ICX), Cardano (ADA), And Nano (NANO) Price Analysis

Today, the cryptocurrencies market have benefited from a rapid upward movement. ICON (ICX) has been in full upswing, Cardano (ADA) is also “green”, while Nano (NANO) is dropping, losing about 4.7%. On the other hand, Bitcoin (BTC), the biggest crypto by market cap, has also risen in value against USD yesterday by shed the gains today, currently trading at $7,382.

ICON (ICX) price analysis

The ICON price is currently trading higher than the moving averages on the 30′ chart. In addition, the split between the 50 SMA and the 100 SMA is now starting to shrink to signal that purchasers are recovering their grip.

The bullish traders are struggling to break the $2.60 resistance but are keeping their eyes on the $2.7 and $3.0 levels. The short-term support regions will arrest the downward trend at $2.5 and $2.4 support levels.

Now, ICON (ICX) trades at $2.57

Cardano (ADA) price analysis

The Cardano ADA price has recently quoted the new May minimums after plummeting under $0.20. Yesterday, the ADA/USD pair exceeded the critical resistance level at $0.18 but stood at over $0.17 level.

Also yesterday, Cardano (ADA) chart presented a strong resistance level around $0.20. As Cardano (ADA) moved over this level (trading at $0.204, at the moment of this article) will encounter more resistance at the 78.6% Fiber Retracement level, with a peak at $0.31 and a minimum at $0.172.

However, the sentiment is bullish for the time being.

Nano (NANO) price analysis

The Nano (NANO) price was among the major earners in the cryptocurrencies market yesterday as its value against the USD soared by more than 14%.

Unfortunately, today Nano (NANO) plummeted below the $4 support level as it is now trading at $3.87, as it records a quite massive drop of about 6% in the last 24 hours, at the moment of this review.

Nano (NANO) lost the momentum it gained yesterday when the bulls pumped in the cryptocurrencies market and is now supporting a correction which might force the coin drop even more.

In short, today, May 30th, the cryptocurrencies market is continuing the slight recovery after a long period of turmoil and significant drops.

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