Coin Rivet
https://coinrivet.com News, analysis, opinion and insight from the fast moving blockchain world Wed, 28 Apr 2021 13:45:46 +0000 en-GB hourly 1
https://coinrivet.com/jp-morgan-explains-why-ethereum-is-outperforming-bitcoin/ Wed, 28 Apr 2021 13:45:46 +0000
https://coinrivet.com/?p=152457
Multinational bank and asset manager JP Morgan has published a note to investors stating that Ethereum is outperforming Bitcoin due to improvements in liquidity and a higher turnover on the public Ethereum blockchain.
The comments were made after Ethereum printed a record high of $2,750 on Tuesday, while Bitcoin struggled to gain momentum at $55,000, which is $10,000 below its respective all-time high.
“Both BTC and ETH experienced a comparable liquidity shock earlier this month which triggered a comparable de-levering event of their respective derivatives markets in subsequent days.” The note began.
“But ETH spot depth has recovered quicker and if anything liquidity conditions on some exchanges is better than prior to that event.
“Higher turnover on the ETH public blockchain means a noticeably higher fraction of those tokens can be considered highly liquid, further blunting the impacts of futures liquidations.
ETHUSD chart by TradingView
“This suggests that ETH valuations may be less dependent on levered demand than BTC, a technical but occasionally important tailwind moving forward.”
At the time of writing Ethereum is trading at $2,700 while Bitcoin is back below $55,000 following an overnight rejection from the $55,800 level of resistance.
eToro market analyst Simon Peters has attributed the recent rise in Ethereum to a wave of demand from institutional investors.
He said: “Underlying this is demand from institutional investors. While they may now have some exposure to Bitcoin, institutions are now diversifying their exposure and Ethereum is the natural next pick, and that leaves the second biggest cryptoasset by market cap well placed to benefit further.”
For more news, guides and cryptocurrency analysis, click here.
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https://coinrivet.com/latest-ripple-price-and-analysis-xrp-to-usd-53/ Tue, 27 Apr 2021 14:48:15 +0000
https://coinrivet.com/?p=152441
Ripple’s XRP token has enjoyed a magnificent rally to $1.44 after rising by 59.28% from Friday’s low of $0.87.
The world’s fourth largest cryptocurrency by market cap is 11.29% up over the past 24-hours following developments in XRP’s legal case with the SEC.
The US regulator is currently investigating Ripple over sales of the XRP token that is alleged to have been an unregistered sale of securities.
However, XRP’s recent price action suggests that investors believe a positive outcome will be made, in spite of skepticism from the wider cryptocurrency industry.
From a technical perspective, if XRP can take out the psychological level of resistance at $1.50, it will likely go on to test the yearly high of $1.97 before attempting to break its 2018 all-time high of $3.31.
XRPUSD chart by TradingView
However, a rejection from here will see XRP fall back into wide range between $1.16 and $1.45, with downside price targets beginning to emerge back down at $0.87.
Much of it will also depend on the trajectory of Bitcoin, which has recently risen from $47,000 to $55,000 after investors capitalised on an oversold territory beneath $50,000.
If Bitcoin can continue its rally from here, upside price action will also be reflected across altcoins like XRP, ETH and LTC.
For more news, guides and cryptocurrency analysis, click here.
Latest Ripple price
Current live XRP price information and interactive charts are available on our site 24 hours a day. The ticker bar at the bottom of every page on our site has the latest Ripple price. Pricing is also available in a range of different currency equivalents:
US Dollar – XRPtoUSD
British Pound Sterling – XRPtoGBP
Japanese Yen – XRPtoJPY
Euro – XRPtoEUR
Australian Dollar – XRPtoAUD
Russian Rouble – XRPtoRUB
Bitcoin – XRPtoBTC
About Ripple (XRP)
Ripple is a real-time gross settlement system (RTGS) developed by the Ripple company. It is also referred to as the Ripple Transaction Protocol (RTXP) or Ripple protocol. It can trace its roots to 2004 when a web developer called Ryan Fugger had the idea to create a monetary system that was decentralised and could effectively allow individuals to create their own money.
Ripple is one of the largest cryptocurrencies and is one of the top 10 cryptocurrencies by market capitalisation.
More Ripple news and information
If you want to find out more information about Ripple or cryptocurrencies in general, then use the search box at the top of this page. Here’s a recent article to get you started:
As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not.
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https://coinrivet.com/latest-ethereum-price-and-analysis-eth-to-usd-95/ Fri, 23 Apr 2021 13:29:28 +0000
https://coinrivet.com/?p=152395
Ethereum is currently recovering from a dramatic 20.68% sell-off just 24-hours after it formed a new all-time high of $2,645.
At the time of writing the world’s second largest cryptocurrency is trading at $2,262 after bouncing by more than 8% from its overnight lows.
The sell-off was reflected across the wider cryptocurrency market, with Bitcoin slumping below $50,000 for the first time since March 7 as speculators begin to question whether the bull market has come to its conclusion.
It’s worth noting that while Bitcoin has formed a series of lower highs followed by a lower low, Ethereum remains in a bullish posture having bounced at $2,134 to keep its structure intact.
ETHUSD chart by TradingView
This could mean that altcoins like Ethereum may continue to perform well over the coming weeks despite a potential drop in the price of Bitcoin, similar to “alt season” played out in January, 2018.
From a technical perspective, Ethereum needs to hold above the previous higher low at $2,065, as well as the daily 200 exponential moving average which is coming in at around $2,100.
Failure to to do this would bring around price targets as low as $1,930 and even $1,805, although it depends on Bitcoin’s desire to bounce in the mid $40,000 region.
For more news, guides and cryptocurrency analysis, click here.
About Ethereum
Ethereum was launched by Vitalik Buterin on July 30 2015. He was a researcher and programmer working on Bitcoin Magazine and he initially wrote a whitepaper in 2013 describing Ethereum.
Buterin had proposed that Bitcoin needed a scripting language. He decided to develop a new platform with a more general scripting language when he couldn’t get buy-in to his proposal.
More Ethereum news and information
If you want to find out more information about Ethereum or cryptocurrencies in general, then use the search box at the top of this page. Please check the below article:
As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not.
You may be interested in our range of cryptocurrency guides along with the latest cryptocurrency news.
Disclaimer: This is not financial advice.
For more news, guides and cryptocurrency analysis, click here.
About Ethereum
Ethereum was launched by Vitalik Buterin on July 30 2015. He was a researcher and programmer working on Bitcoin Magazine and he initially wrote a whitepaper in 2013 describing Ethereum.
Buterin had proposed that Bitcoin needed a scripting language. He decided to develop a new platform with a more general scripting language when he couldn’t get buy-in to his proposal.
More Ethereum news and information
If you want to find out more information about Ethereum or cryptocurrencies in general, then use the search box at the top of this page. Please check the below article:
As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not.
You may be interested in our range of cryptocurrency guides along with the latest cryptocurrency news.
Disclaimer: This is not financial advice.
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https://coinrivet.com/bitcoin-correction-looms-as-4-hour-death-cross-beckons/ Wed, 21 Apr 2021 14:00:45 +0000
https://coinrivet.com/?p=152269
Bitcoin is on the brink of a macro reversal in terms of price action having slumped dramatically from its all-time high of $65,000 just one week after the Coinbase’s share went live on Nasdaq.
The world’s largest cryptocurrency is currently consolidating in the $55,000 region following a sharp rejection from the $57.2k level of resistance on Tuesday evening.
Whilst several analysts are predicting that this is the final pullback before another charge to a new all-time high, the four-hour exponential moving average formation demonstrates a severe lack of momentum.
The four-hour 50 EMA crossed the 200 EMA to the upside on October 9 when Bitcoin was worth $11,150 in what is called a “golden cross”. Since then, Bitcoin has embarked on a quite incredible bull market with a 480% rally to the upside.
During which the 50 EMA has failed to cross back below the 200 EMA as the uptrend continued to form new highs at $40,000, $58,500, $61,800 and more recently $65,000.
BTCUSD chart by TradingView
However, the 50 EMA is now aggressively angled to the downside, with it being just $600 away from the 200 EMA at $57,550. A cross will likely take place today unless Bitcoin can surge to above $57,500 before the next two candle closures.
Previous four-hour death crosses have led to a series of major corrections in the price of Bitcoin, with a cross in November 2019 preceding a 25% pullback while the subsequent cross in February 2020 came before a 63% correction.
It’s worth noting that the death cross is not confirmed until the 50 EMA has closed a four-hour candle below the 200 EMA, with a potential move expected to happen over the coming weeks.
For more news, guides and cryptocurrency analysis, click here.
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https://coinrivet.com/tether-launches-on-layer-2-hermez-network/ Mon, 19 Apr 2021 15:10:42 +0000
https://coinrivet.com/?p=152093
Tether has announced that USDT tokens are now live on the Hermez network, a decentralised zero-knowledge rollup (zk-rollup), according to a press release shared with Coin Rivet.
Hermez is an Ethereum layer 2 scaling solution that is designed to improve transactional cost and speed as gas costs on the Ethereum mainnet continue to soar.
USDT is one of the first stablecoins to go live on the Hermez network, with zero-knowledge rollups being known to provide a suitable solution to transaction bottlenecks.
“We’re delighted to be among the first to launch on Hermez,” said Paolo Ardoino, CTO at Tether.
Tether has just surpassed $45B market cap! 🎉
And it was only in January when Tether tokens ($USDt) stood at US$25 billion. Another milestone has been reached! 👩🏽🚀🚀
Stay up to date on our official Telegram channel ⬇️https://t.co/137b5oOauU pic.twitter.com/oNv7APaz9g
— Tether (@Tether_to) April 13, 2021
“This demonstrates our commitment to solving the issues of scalability and high transaction fees on the Ethereum network. Tether takes its pivotal role in the digital token ecosystem seriously. We’re committed to overcoming technical hurdles while doing our utmost to make manifest the many great projects that developers are working on in our space.”
“By onboarding the USDt stablecoin, we are incentivising transactions on layer 2 and decreasing congestion and fee pressure on Layer 1,” said Antoni Martin, Co-Founder of Hermez. “This is a win-win situation for users and stablecoin issuers as it will reduce friction and increase velocity.”
Tether is known for its dynamic approach in integrating with a number of blockchains including Algorand, Bitcoin Cash’s Simple Ledger Protocol, Ethereum, EOS, Omni, Solana and Tron.
For more news, guides and cryptocurrency analysis, click here.
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https://coinrivet.com/digitex-dgtx-launches-zero-fee-spot-exchange/ Fri, 16 Apr 2021 09:30:54 +0000
https://coinrivet.com/?p=152001
Digitex, the world’s first zero-fee crypto futures exchange, has upgraded its offer this week, launching spot markets to enhance the trading experience and make onboarding new users to the exchange much easier.
From April 15, Digitex users can instantly buy, sell, and withdraw cryptocurrencies with zero fees starting with the following trading pairs: DGTX/BTC, DGTX/ETH, ETH/BTC, BTC/USDC, ETH/USDC, and DGTX/USDC.
Digitex’s long-awaited spot exchange will allow traders to buy DGTX easily, securely, and without paying commissions or having to use a third-party exchange.
Traders looking to avoid the volatility of holding their profits in Digitex’s native token can also choose to convert their funds to popular stablecoin USDC if they wish. And they can enjoy the convenience of trading spot and futures from within Digitex’s universal trading wallet.
Digitex CEO and founder Adam Todd commented: “We want to offer our traders an experience they won’t find anywhere else. So, not only have we removed ALL fees, zero trading, and zero withdrawal fees, but we’ve also really improved our UX and UI on this latest release.
Hey Digitexers, what do you think of our latest product release? Are you enjoying our new UI & UX of #trading spot & futures from one universal wallet—plus our #zerofee withdrawal policy? 😁⚡️
Leave your comments below. #Digitex $DGTX #crypto pic.twitter.com/TUU5sqICft
— Digitex (@Digitex_io) April 16, 2021
By allowing traders to trade cryptocurrencies and futures from one universal wallet, they can interact with our markets in a faster and more convenient way that’s delivering real value to users.”
Digitex released its futures beta platform in November 2019 and then later launched its mainnet in July 2020.
It hasn’t always been an easy ride for Digitex since inception, but that doesn’t detract from its many successes, such as the stellar performance of its matching engine.
Battle-hardened on live markets with hundreds of thousands of users, the platform has proven itself capable of handling over 22 billion trades in a 24-hour period: setting itself at a high industry standard when it comes to handling crypto’s infamous volatile periods.
The Digitex platform also provides some extremely valuable tools—such as our liquidity mining program which pays its users 290 DGTX rewards every minute for trading while ensuring high liquidity on the exchange.
Its one-of-a-kind zero-fee model, powered by the DGTX token allows traders to pursue high-frequency trading strategies and keep 100% of their profits. This is why many traders are making Digitex their platform of choice during 2021’s raging bull market.
To find out more about Digitex’s zero-fee trading experience, click here.
For more news, guides and cryptocurrency analysis, click here.
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https://coinrivet.com/waves-sells-duck-nft-perfection-for-1000000/ Thu, 15 Apr 2021 17:10:59 +0000
https://coinrivet.com/?p=152043
Russia-based blockchain ecosystem Waves has concluded the sale of an NFT outside of Ethereum with its first Waves Duck called “Perfection”.
The NFT sold for $1 million on SGN Art, a web gallery for blockchain-certified art and non-fungible tokens (NFTs).
Perfection, which received more than 40 bids, is the first NFT to be created by Sasha Ivanov, founder of Waves.
To date, the Waves Duck sale is the highest NFT sale outside of Ethereum, beating the “2019-20 LeBron James dunk,” which sold for $208,000 on NBA Topshot, and Bitcoin Origin’s “4MB Block (M2),” which sold for $345,300 on Atomic Hub.
The founder of Waves, Sasha Ivanov, is announcing today that all profits from the NFT sale, will be used towards buybacks of NFT duck packs that will be built by Hunters through the Duck Hunters games.
“This week we celebrated Waves 5th anniversary and we took this opportunity to give back to our community for their continuous support and enthusiasm towards Waves tech,” said Sasha Ivanov.
NFTs originated on the Ethereum blockchain, but amidst growth in popularity for the coveted digital assets and increasing costs on Ethereum, many pioneering blockchain protocols have launched their own NFTs and marketplaces including Flow, EOS, Waves, Tron and more.
“On Waves, all transactions are instant and we have low-fixed transaction fees, which makes it a perfect playground for NFTs innovations,” said Sasha Ivanov, founder of Waves. ”The NFT games set new opportunities to participate in the Waves ecosystem in a fun and exciting way while also getting rewarded.”
For more news, guides and cryptocurrency analysis, click here.
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https://coinrivet.com/latest-bitcoin-price-and-analysis-btc-to-usd-117/ Wed, 14 Apr 2021 13:49:42 +0000
https://coinrivet.com/?p=152033
Bitcoin is currently trading at record highs of $64,500 as cryptocurrency fever spreads amid the listing of Coinbase on Nasdaq.
Many believe the listing of Coinbase, which is one of the longest-running Bitcoin exchanges, will finally legitimise the industry among institutional investors.
Early estimates predict that Coinbase will be faced with a valuation more than $100 billion, making it more valuable than the Intercontinental Exchange that owns the New York Stock Exchange.
The price of Bitcoin has increased as expected this week as traders attempt to capitalise on the latest breakout to a new all-time high following two months of consolidation below $60,000.
BTCUSD chart by TradingView
From a technical perspective, there are certainly a number of signs that indicate how frothy the market is, notably the bearish divergence on Bitcoin’s daily chart from each higher high, but in the short-term it appears that continuation is on the cards.
It’s worth noting that a news event like Coinbase may become a “sell the news” event amongst savvy traders, much in the same was as Bitcoin fell from an all-time high of $20,000 in 2017 after being listed on the CME.
Levels of support remain at $61,800, $59,900 and $58,500, although the trajectory very much depends on the perceived bullishness of the Coinbase share price at open today.
For more news, guides and cryptocurrency analysis, click here.
Bitcoin pricing
Current live BTC pricing information and interactive charts are available on our site 24 hours a day. The ticker bar at the bottom of every page on our site has the latest Bitcoin price. Pricing is also available in a range of different currency equivalents:
US Dollar – BTCtoUSD
British Pound Sterling – BTCtoGBP
Japanese Yen – BTCtoJPY
Euro – BTCtoEUR
Australian Dollar – BTCtoAUD
Russian Rouble – BTCtoRUB
About Bitcoin
In August 2008, the domain name bitcoin.org was registered. On 31st October 2008, a paper was published called “Bitcoin: A Peer-to-Peer Electronic Cash System”. This was authored by Satoshi Nakamoto, the inventor of Bitcoin. To date, no one knows who this person, or people, are.
The paper outlined a method of using a P2P network for electronic transactions without “relying on trust”. On January 3 2009, the Bitcoin network came into existence. Nakamoto mined block number “0” (or the “genesis block”), which had a reward of 50 Bitcoins.
More BTC news and information
If you want to find out more information about Bitcoin or cryptocurrencies in general, then use the search box at the top of this page. Here’s an article to get you started.
As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice.
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https://coinrivet.com/bitcoin-rally-fueled-by-institutional-investment-says-bitfinex-cto/ Tue, 13 Apr 2021 13:10:39 +0000
https://coinrivet.com/?p=152019
Bitcoin has impressively surged to a new record high of $63,500 this morning following a two-month period of consolidation beneath the $60,000 level of resistance.
The world’s largest cryptocurrency has enjoyed a sensational 12-months of price action, rising from lows of $4,000 in 2020 before eventually breaking its prior all-time high of $20,000 in December.
In contrast to 2017, Bitcoin has attracted investment from major companies like Tesla, while in 2017 the bull market was driven by retail investment amid the ICO bubble.
Paolo Ardoino, Bitfinex CTO believes the rally is “partly fueled by institutional buyers of the new digital gold.”
Maybe most of people actually won’t do it, but what matters is the feeling you have that option. And no one can take it from you. It’s freedom. #bitcoin https://t.co/RNKiNIycpU
— Paolo Ardoino (@paoloardoino) April 11, 2021
He continued: “This momentum may continue as increasing numbers of funds and corporations add bitcoin to their investment portfolios.
“An ongoing pandemic may also be furthering a safe haven narrative for bitcoin, particularly in emerging markets where bitcoin is gaining traction.
“While this particular all-time high will make headlines, daily price movements are of little consequence in comparison to the quiet revolution that is blockchain technology. More and more are seeing the benefits of being a bitcoin hodler.”
Institutional attention on Bitcoin has skyrocketed this week in light of Coinbase’s upcoming listing on Nasdaq, with an estimated valuation standing at $120 billion.
For more news, guides and cryptocurrency analysis, click here.
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https://coinrivet.com/bitcoin-approaches-record-high-days-before-coinbase-nasdaq-listing/ Mon, 12 Apr 2021 11:49:24 +0000
https://coinrivet.com/?p=151999
Bitcoin is on the brink of forming a record high above $62,000 as the industry anticipates a volatile week with Coinbase being listed on Nasdaq on Wednesday.
Early estimates have suggested that Coinbase will be valued at around $130 billion when it goes live, which would add legitimacy to the industry as a whole.
Coinbase CEO Brian Armstrong announced the company’s decision to go public in late January, with Bitcoin’s price having rallied from $33,000 to $60,000 since the story broke.
Some may argue that the listing is already priced in, although analysts are predicting that the high valuation may be the catalyst for Bitcoin to print a new all-time high.
Bitcoin’s market cap is currently at more than $1.1 trillion, with the entire cryptocurrency ecosystem surpassing a market cap of $2 trillion last week.
It is a far cry from this time last year, when Bitcoin was reeling from the covid 19-induced sell-off that saw it slump to as low as $4,000 in March.
*COINBASE SAYS Q1 REVENUE TOPPED $1B, CRYPTO EXCHANGE PLATFORM HAS 56 MILLION VERIFIED USERS$COIN
— Investing.com (@Investingcom) April 6, 2021
If Bitcoin can surge to a new all-time high this week, analysts are predicting that it could reach a price target of $72,000 before the end of the month.
However, news events like this are often perceived as a “buy the rumour, sell the news” type of event by traders, which could heap pressure to the downside as it did in December 2017 when Bitcoin futures was listed on CME for the first time.
It is also worth considering that early investors in Coinbase’s direct listing may be inclined to sell at a high valuation to secure profits, which would also add more pressure to the downside.
Kraken, another cryptocurrency exchange, also has plans to go public next year following a surge in institutional investment from the likes of Tesla and Microstrategy.
For more news, guides and cryptocurrency analysis, click here.
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https://coinrivet.com/latest-ethereum-price-and-analysis-eth-to-usd-94/ Fri, 09 Apr 2021 11:50:41 +0000
https://coinrivet.com/?p=151944
Ethereum is currently trading back above the crucial $2,000 level of support as it takes aim at a weekend record high above $2,158.
The world’s second largest cryptocurrency has risen by more than 175% since the turn of the year and a staggering 1,156% in the past 12 months.
It has recently benefited from a period of sideways consolidation in the price of Bitcoin, which has led to market-wide rallies across the majority of altcoins like Ethereum, Litecoin and Bitcoin Cash.
In the immediate future, Coinbase’s upcoming direct listing on Nasdaq next week is expected the be a positive step forwards for the entire industry, although it’s worth noting that traders may look to “sell the news” over an event of this nature.
ETHUSD chart by TradingView
If hype and optimism can be sustained until next Wednesday’s listing, Ethereum is being predicted to form a new all-time high this weekend with aggressive upside price targets coming in at around $2,275.
However, if the wider market begins to correct, the correlation in assets would see Ethereum slump back below $2,000 to test the prior low of $1,933, with another potential target at $1,850.
Ethereum has been bolstered this year by a surge in popularity surrounding DeFi protocols, most of which are based on Ethereum’s blockchain.
For more news, guides and cryptocurrency analysis, click here.
About Ethereum
Ethereum was launched by Vitalik Buterin on July 30 2015. He was a researcher and programmer working on Bitcoin Magazine and he initially wrote a whitepaper in 2013 describing Ethereum.
Buterin had proposed that Bitcoin needed a scripting language. He decided to develop a new platform with a more general scripting language when he couldn’t get buy-in to his proposal.
More Ethereum news and information
If you want to find out more information about Ethereum or cryptocurrencies in general, then use the search box at the top of this page. Please check the below article:
As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not.
You may be interested in our range of cryptocurrency guides along with the latest cryptocurrency news.
Disclaimer: This is not financial advice.
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https://coinrivet.com/avalanche-avax-integrates-with-the-graph-grt/ Thu, 08 Apr 2021 13:54:51 +0000
https://coinrivet.com/?p=151927
Decentralised smart contracts platform, Avalanche, has integrated with The Graph to expand querying and indexing on the platform.
According to a press release shared with Coin Rivet, developers building on Avalanche can easily query custom on-chain data requests, without having to run a full node, via subgraphs, which are indexes of specifically-defined blockchain data.
More than 9,000 subgraphs have been deployed as of February this year, with more coming online as The Graph expands support across major layer 1 blockchains.
“Decentralised, reliable data is at the core of high-quality Web3 applications. The Graph’s data suite and tooling expands the options and opportunities for developers building on Avalanche,” said John Wu, President of Ava Labs.
.@graphprotocol is now integrated with Avalanche. Developers can now query its on-chain data without hosting a node to build highly performant applications.https://t.co/3ftorZFbfa
— Avalanche (@avalancheavax) April 8, 2021
Expanded access to blockchain data hasn’t gone unnoticed by the Web3 developer community. In January 2021, The Graph’s hosted service saw queries increase to over 11 billion, with 100x growth during 2020.
Avalanche and The Graph have both massively benefited from the boom in decentralised finance (DeFi) since the end of 2020, with the respective AVAX and GRT tokens rising by 1,000% and and 900%.
This growth is also mirrored within Avalanche. Since the launch of the Avalanche-Ethereum Bridge (AEB) on February 8, 2021, smart contract activity on Avalanche has boomed, with transactions having increased by 2,007% to over 1,140,000, and unique wallets increasing by 2,834% to top 63,000.
For more news, guides and cryptocurrency analysis, click here.
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https://coinrivet.com/xrp-surges-above-1-for-first-time-since-2018/ Tue, 06 Apr 2021 13:24:20 +0000
https://coinrivet.com/?p=151907
Ripple’s XRP token has vastly benefitted from what some are describing as a weekend “alt season”, with it rising above the psychological level of resistance at $1.00.
Staggeringly, XRP has now rallied by more than 150% since the turn of the month as traders speculate over a bullish outcome to the ongoing SEC lawsuit with Ripple over unregistered securities sales.
Its hike in price has come alongside a surge in a number of popular assets from 2017 including Tron (TRX) and NEO, demonstrating the rotational market that cryptocurrency has become over the past few months.
In terms of XRP from a technical analysis perspective, it needs to close Tuesday’s daily candle above $1 to confirm a breakout, with price targets beginning to emerge at 2017 levels of $1.09, $1.20 and $1.24.
XRPUSD chart by TradingView
However, if it rejects from the $1 it will likely retest the previous level of resistances at $0.94 and $0.75 as support before deciding on its next path.
Much of it will also depend on the trajectory of Bitcoin, which has been consolidating beneath the $60,000 level for more than a week.
Altcoins like XRP typically perform well when Bitcoin engages in sideways price action, if Bitcoin makes a major move in either direction, XRP will most likely subside as traders attempt to capitalise on lower risk assets like Bitcoin.
For more news, guides and cryptocurrency analysis, click here.
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https://coinrivet.com/cme-group-to-launch-micro-bitcoin-futures-on-may-3/ Fri, 02 Apr 2021 07:46:30 +0000
https://coinrivet.com/?p=151865
Derivatives marketplace, CME Group, has announced that it will expand its cryptocurrency offerings by launching a new Micro Bitcoin futures contract on May 3.
The launch is pending subject to regulatory review, but it will offer clients the opportunity to trade contacts one-tenth the size of one Bitcoin, compared to the existing product where one contract is worth five Bitcoin.
The aim of launching a micro futures contract it to provide market participants with another tool to hedge their spot Bitcoin risk, or to take up negative exposure.
“Since the launch of our Bitcoin futures contract in 2017, we have seen steady, ongoing growth of liquidity and market participation in our crypto derivatives, especially among institutional traders,” said Tim McCourt, CME Group Global Head of Equity Index and Alternative Investment Products.
CME TO OFFER MICRO-BITCOIN FUTURES AT $6K A CONTRACT COMPARED TO BITCOIN FUTURES WHICH TRADE A $300K A CONTRACT STARTING MAY 3: BBG
— FXHedge (@Fxhedgers) March 31, 2021
“The introduction of Micro Bitcoin futures responds directly to demand for smaller-sized contracts from a broad array of clients and will offer even more choice and precision in how participants can trade regulated Bitcoin futures in a transparent and efficient manner at CME Group.”
It’s worth noting that the launch of CME’s Bitcoin futures product in December, 2017, marked the top of Bitcoin’s hype-fulled bull market, which eventually saw the price of BTC trickle down from $20,000 to less than $4,000.
CME also recently launched Ethereum futures, with the world’s second largest cryptocurrency currently approaching a new all-time high above $2,000.
In 2021-to-date, 13.8K CME Bitcoin futures contracts (equivalent to about 69,000 Bitcoin) have traded on average each day. In addition, CME Ether futures have seen 767 contracts traded (equivalent to 38,800 ETH) on average each day since launched on February 8.
For more news, guides and cryptocurrency analysis, click here.
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https://coinrivet.com/enjin-raises-18-9m-to-launch-nft-blockchain-on-polkadot/ Wed, 31 Mar 2021 15:00:45 +0000
https://coinrivet.com/?p=151848
Blockchain gaming company, Enjin, has announced a $18.9m capital raise as it announces plans to launch a bespoke, NFT-focused blockchain named Efinity on Polkadot.
The funding round was led by Crypto.com Capital, DFG Group, and Hashed, with additional investment from the likes of Hypersphere, BlockTower, Blockchain.com Ventures, Fenbushi, Iconium, HashKey, Arrington XRP Capital and DeFi Alliance.
Enjin is known for being the creators of the ERC-1155 non-fungible token (NFT), with the asset class rising to popularity throughout this ongoing bull market.
“NFTs should be for everyone,” said Caleb Applegate, COO of Enjin. “Building with Polkadot will enable us to deliver an accessible, scalable solution that empowers everyone to participate in the emerging NFT economy. With the end-user in mind, Efinity will provide a fun, simple, and accessible experience for all.”
A new #NFT chapter begins soon @enjin. The advent of a globe-spanning, advanced digital asset economy. $ENJ pic.twitter.com/U903vaKxAz
— Maxim (@maxenjin) March 29, 2021
The company has also announced that it is developing a cross-chain token standard called “Paratoken”, which will enable any fungible or non-fungible token from any blockchain to be moved onto the Efinity network.
“Digital assets should exist in a metaverse of blockchains.” said Witek Radomski, CTO of Enjin. “Opening up liquidity across multiple blockchains and use-cases will connect a broad ecosystem of creators, buyers, and sellers.”
For more news, guides and cryptocurrency analysis, click here.
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https://coinrivet.com/latest-bitcoin-price-and-analysis-btc-to-usd-116/ Tue, 30 Mar 2021 22:22:08 +0000
https://coinrivet.com/?p=151832
Bitcoin is on the brink of a major breakout above $60,000 on the back of Visa and PayPal’s decision to make digital asset services more accessible.
The world’s largest cryptocurrency, which now has a market cap of $1.1 trillion, has risen by more than 17% since March 25’s low of $50,400.
At the time of writing it is trading at $59,450 as it begins to nudge convincingly towards its all-time high of $62,000.
From a technical level, if Bitcoin is dealt a rejection from the psychological level of resistance at $60,000, it will most likely come back down to re-test the level of support at $57,500.
However, a breakout on convincing volume could trigger a clear drive to a new all-time high, with fibonacci extension levels hinting towards a $72,000 price target.
BTCUSD chart by TradingView
Bitcoin’s perceived adoption among mainstream payment companies has fueled this recent rally, although it’s worth noting that institutional investment is also at an all-time high, with Tesla investing $1.5 billion in January.
It’s also worth noting that retail attention has been far lower than in 2017, indicating a maturing of the asset class away from the hype-driven ICO bubble.
Sentiment remains frothy and it’s important to point out that throughout its 11-year history, Bitcoin has always fallen from a bull market before reversing into a gruelling bear market that can last for a number of years.
For more news, guides and cryptocurrency analysis, click here.
Bitcoin pricing
Current live BTC pricing information and interactive charts are available on our site 24 hours a day. The ticker bar at the bottom of every page on our site has the latest Bitcoin price. Pricing is also available in a range of different currency equivalents:
US Dollar – BTCtoUSD
British Pound Sterling – BTCtoGBP
Japanese Yen – BTCtoJPY
Euro – BTCtoEUR
Australian Dollar – BTCtoAUD
Russian Rouble – BTCtoRUB
About Bitcoin
In August 2008, the domain name bitcoin.org was registered. On 31st October 2008, a paper was published called “Bitcoin: A Peer-to-Peer Electronic Cash System”. This was authored by Satoshi Nakamoto, the inventor of Bitcoin. To date, no one knows who this person, or people, are.
The paper outlined a method of using a P2P network for electronic transactions without “relying on trust”. On January 3 2009, the Bitcoin network came into existence. Nakamoto mined block number “0” (or the “genesis block”), which had a reward of 50 Bitcoins.
More BTC news and information
If you want to find out more information about Bitcoin or cryptocurrencies in general, then use the search box at the top of this page. Here’s an article to get you started.
As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice.
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https://coinrivet.com/visa-to-settle-payments-in-usdc-on-ethereum-blockchain/ Mon, 29 Mar 2021 12:39:42 +0000
https://coinrivet.com/?p=151818
Global payments network Visa has announced that it now settles payments in the USDC stablecoin on the Ethereum blockchain.
Visa has now become the first major payments company to use stablecoins as a settlement currency, in spite of concerns from regulators in the US.
According to a press release, Visa is initially working with Crypto.com who will manage its card business now entirely in cryptocurrencies.
“The announcement today marks a major milestone in our ability to address the needs of fintechs managing their business in a stablecoin or cryptocurrency,” said Visa’s Chief Product Officer Jack Forestell. “And it’s really an extension of what we do every day, securely facilitating payments in all different currencies all across the world.”
1/6 Major USDC news today – @Visa has become the first major payments network to support USDC as a native currency and settlement system on its network. This is massive news, and marks a major turning point in mainstream adoption of crypto. https://t.co/APZJpeJIJU
— Jeremy Allaire (@jerallaire) March 29, 2021
Visa will also work with crypto bank Anchorage, which will see Crypto.com send USDC to Visa’s Ethereum wallet at Anchorage.
“Visa came to us in 2019 with an idea—make secure, efficient, and seamless settlement payments possible in digital currency by linking Visa’s treasury with Anchorage’s custody platform,” said Diogo Mónica, co-founder and president of Anchorage. “This would give the next generation of crypto native issuers the option to directly settle with Visa in a digital currency over a public blockchain.”
Visa CEO Al Kelly stated earlier this month that it plans to enable the use of Central Bank Digital Currencies (CBDCs) in its network.
For more news, guides and cryptocurrency analysis, click here.
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https://coinrivet.com/artist-jonas-quant-launches-swedens-first-nft/ Fri, 26 Mar 2021 14:44:04 +0000
https://coinrivet.com/?p=151781
Non-Fungible Token (NFT) fever has reached Scandinavia, with Swedish artist and producer Jonas Quant announcing the launch of his first NFT, dubbed DreamFNG.
The project is also backed by music industry pioneer, Joel Borg, and prominent crowdfunder, Daniel Daboczy.
The auction for the DreamFNG artwork auction begins today, on March 26, with it remaining open for 48 hours.
“DreamFNG defies the expectations of traditional art. It doesn’t have defined start, end, or scope,” said Jonas Quant.
“I look forward to sharing my vision of DreamFNG with the winner of this NFT auction.”
I’m on @withFND 🌐
0x62218993338f24d481360De5092Ed660bea8575Bhttps://t.co/1cohbKbBmd
— Jonas Quant (@JonasQuant) March 23, 2021
NFTs have risen to prominence since the turn of the year amidst mounting retail mania. Beeple sold an NFT for a groundbreaking $70 million earlier this month.
“As NFTs surge in popularity, they’re creating a new way for artists to showcase their work and for consumers to get involved like never before,” said crowdfunding entrepreneur Daniel Daboczy, CEO of Technicorum Group.
“We are pleased to support Quant’s innovative DreamFNG launch and will continue to provide new ways for people to explore and collect NFTs through KingSwap and other platforms.”
The auction is also being powered by KingSwap, a platform that delivers high-yield liquidity along with staking rewards, digital collectibles and fiat conversions.
For more news, guides and cryptocurrency analysis, click here.
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https://coinrivet.com/latest-ripple-price-and-analysis-xrp-to-usd-52/ Thu, 25 Mar 2021 15:32:46 +0000
https://coinrivet.com/?p=151769
Ripple’s XRP token has been rocked this week by a market-wide sell-off that has seen it lose 17% of its value in three days.
The world’s seventh largest cryptocurrency by market cap, which is currently being investigated by the SEC, is now trading back below the psychological level of support at $0.50 as it edges towards a wider correction to $0.40.
XRPUSD chart by TradingView
Much of XRP’s trajectory over the coming weeks depends on whether Bitcoin can weather the recent storm and hold above the $50,000 level of support after sliding dramatically from its all-time high of $62,000.
If, however, Bitcoin plunges deeper before this month’s quarterly options expiry, XRP will also likely feel the pain, with downside targets beginning to emerge at the daily 200 exponential moving average, which is currently at $0.38.
The ongoing SEC investigation will also have an impact on the future the the XRP token, although murmurs from the Ripple camp appear confident for the time being.
A positive resolution would dispel fears over XRP’s status as a security, which could cause an influx of investment as the risk profile would become far more favourable.
For more news, guides and cryptocurrency analysis, click here.
Latest Ripple price
Current live XRP price information and interactive charts are available on our site 24 hours a day. The ticker bar at the bottom of every page on our site has the latest Ripple price. Pricing is also available in a range of different currency equivalents:
US Dollar – XRPtoUSD
British Pound Sterling – XRPtoGBP
Japanese Yen – XRPtoJPY
Euro – XRPtoEUR
Australian Dollar – XRPtoAUD
Russian Rouble – XRPtoRUB
Bitcoin – XRPtoBTC
About Ripple (XRP)
Ripple is a real-time gross settlement system (RTGS) developed by the Ripple company. It is also referred to as the Ripple Transaction Protocol (RTXP) or Ripple protocol. It can trace its roots to 2004 when a web developer called Ryan Fugger had the idea to create a monetary system that was decentralised and could effectively allow individuals to create their own money.
Ripple is one of the largest cryptocurrencies and is one of the top 10 cryptocurrencies by market capitalisation.
More Ripple news and information
If you want to find out more information about Ripple or cryptocurrencies in general, then use the search box at the top of this page. Here’s a recent article to get you started:
As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not.
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https://coinrivet.com/cryptowatch-desktop-releases-depth-chart-and-command-bar/ Tue, 23 Mar 2021 15:50:05 +0000
https://coinrivet.com/?p=151724
Cryptocurrency data and trading portal, Cryptowatch Desktop, has released its third major update, with a new depth chart module and improved command bar improving its existing functionality.
According to a blog post, the update also allows users to fine tune their analytical experience hotkey functionality.
Cryptowatch launched its desktop product in October following an increase in popularity of its web-based platform.
Credit where it’s due, the new @cryptowat_ch desktop update is pretty cool! pic.twitter.com/2Q28ElFium
— Oliver Knight (@KnightCoinRivet) March 23, 2021
It feeds data from the APIs of all the top cryptocurrency exchanges, allowing users to toggle between candle charts, tick charts, order books and now depth charts.
There are also plans in place to extend Cryptowatch’s offering, with improved charting tools that will let users map out technical analysis, as well as the “much-requested feature” of trading across all major exchanges.
Customisation of the platform has also seen a major improvement with a new feature that enables users to switch between dynamic themes ranging from classic “Wall Street” to the more familiar colours of Kraken’s exchange.
For more news, guides and cryptocurrency analysis, click here.
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https://coinrivet.com/latest-litecoin-price-and-analysis-ltc-to-usd-59/ Mon, 22 Mar 2021 15:26:15 +0000
https://coinrivet.com/?p=151711
Litecoin is currently trading just below the psychological level of resistance at $200 after bouncing from overnight lows of $190.
The world’s ninth largest cryptocurrency, which has fallen down the rankings this year in light of DeFi’s rise, remains in a bullish posture on higher time frames despite presenting some warning signs in the short term.
Since breaking above $58 in Q4 of 2020, Litecoin has consistenetly formed higher lows to against its USD trading pair to suggest that a clear uptrend was in action.
LTCUSD chart by TradingView
It then formed a yearly high of $249 in February, however investors will be concerned at the recent high on March 13 failing to breach the $229 level of resistance.
Trade volume has been steadily decreasing since the recent high, demonstrating that bullish momentum is beginning to taper off following a three month period that has seen Litecoin’s value increase by more than 150%.
Whilst volatility has retracted over the past few weeks, it seems as though as major move it on the cards with all momentum indicators having reset.
However, much of it will depend on the trajectory of Bitcoin, which in itself is struggling to sustain momentum following this month’s record high of $61,800, with it currently trading at $57,000.
For more news, guides and cryptocurrency analysis, click here.
About Litecoin
Litecoin was released in October 2011 by Charlie Lee, a former Google employee. It is a fork of Bitcoin, with the main difference being a smaller block generation time. The protocol also increased the maximum number of coins and implemented a different script-based algorithm.
Litecoin is one of the leading cryptocurrencies and is one of the top 10 cryptocurrencies by market capitalisation.
More LTC news and information
If you want to find out more information about LTC or cryptocurrencies in general, then use the search box at the top of this page. Here’s an article to get you started:
As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not.
You may be interested in our range of cryptocurrency guides along with the latest cryptocurrency news.
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https://coinrivet.com/woorton-acquires-e5-million-of-bitcoin-at-national-french-auction/ Fri, 19 Mar 2021 16:03:21 +0000
https://coinrivet.com/?p=151675
Paris-based cryptocurrency market makers, Woorton, participated in the first ever Bitcoin auction in France.
The event saw the French State auction off 611 Bitcoin that had been recovered by the Agency for the Recovery of Seized and Confiscated Assets (AGRASC).
A total of more than 28 million euros of Bitcoin was sold at the auction, around five million of which was acquired by Woorton.
The Bitcoin was divided into 478 separate lots throughout the auction, ranging from 0.11 BTC to 20 BTC.
Almost 1,500 companies and individuals registered to take part in the auction, with Woorton positioning itself as one of the most active participants in both sessions.
France is set to pocket nearly $30 million from its first-ever auction of the cryptocurrency https://t.co/Z1DHFkqANq
— The National (@TheNationalNews) March 18, 2021
With Woorton being one of Europe’s leading market makers and liquidity providers, it is constantly looking to buy or sell large amounts of Bitcoin and other digital currencies.
In December, Coin Rivet interviewed Woorton’s Head of Trading, Zahreddine Touag, over the company’s role in the influx of institutional investment that has skyrocketed cryptocurrency into the mainstream in 2021.
Speaking after Paris Blockchain Week in December, Touag said: “This year we have been reached by 10 times the amount of CFOs from large corporations because they want to get into crypto.”
For more news, guides and cryptocurrency analysis, click here.
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https://coinrivet.com/latest-bitcoin-price-and-analysis-btc-to-usd-115/ Thu, 18 Mar 2021 20:57:27 +0000
https://coinrivet.com/?p=151658
Bitcoin is currently trading at $57,641 after falling by 3.63% from Wednesday’s high of $59,350 which came on the back of the Federal Reserve press conference.
Fears about the bond yield curve coupled with inflation estimates saw the US Dollar tumble significantly yesterday, resulting in every asset that traded against it to surge.
Bitcoin is now at a crucial stage in its bull market cycle, with several analysts predicting a new all-time high above $62,000 while others suggest the top may be in following more than one year of consistent upside price action.
BTCUSD chart by TradingView
It is currently in danger of falling back into a trading range between $53,000 and $57,000 that has been established since since March 9, although it’s worth noting that if the US stock market continues to make record highs, Bitcoin will likely follow in its footsteps.
From a macro perspective, the relative strength index has printed three drives of bearish divergence, with three lower highs against three higher highs of $41,000, $58,500 and $62,00 in terms of price action.
However, both the weekly and monthly scale remain bullish, with more institutional adoption and investment expected throughout the remainder of 2021.
For more news, guides and cryptocurrency analysis, click here.
Bitcoin pricing
Current live BTC pricing information and interactive charts are available on our site 24 hours a day. The ticker bar at the bottom of every page on our site has the latest Bitcoin price. Pricing is also available in a range of different currency equivalents:
US Dollar – BTCtoUSD
British Pound Sterling – BTCtoGBP
Japanese Yen – BTCtoJPY
Euro – BTCtoEUR
Australian Dollar – BTCtoAUD
Russian Rouble – BTCtoRUB
About Bitcoin
In August 2008, the domain name bitcoin.org was registered. On 31st October 2008, a paper was published called “Bitcoin: A Peer-to-Peer Electronic Cash System”. This was authored by Satoshi Nakamoto, the inventor of Bitcoin. To date, no one knows who this person, or people, are.
The paper outlined a method of using a P2P network for electronic transactions without “relying on trust”. On January 3 2009, the Bitcoin network came into existence. Nakamoto mined block number “0” (or the “genesis block”), which had a reward of 50 Bitcoins.
More BTC news and information
If you want to find out more information about Bitcoin or cryptocurrencies in general, then use the search box at the top of this page. Here’s an article to get you started.
As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice.
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https://coinrivet.com/morgan-stanley-urges-bitcoin-investors-to-proceed-with-caution/ Wed, 17 Mar 2021 15:32:38 +0000
https://coinrivet.com/?p=151635
Multinational investment bank Morgan Stanley has urged investors to proceed with caution on cryptocurrencies as the asset class remains in its infancy in terms of price discovery.
In a note drafted by Morgan Stanley’s wealth management unit, as quoted by The Block, it reiterated that investment in cryptocurrencies like Bitcoin is speculative.
It did, however, reaffirm that while cryptocurrencies carry a lot of risk, it is currently maturing to a stage where it may become an ivnestible asset within a diverse portfolio.
Boom!
Morgan Stanley just filed an SEC form declaring they now own 792,627 shares (10.9%) of Microstrategy.
They’ve increased their position by 360%, adding almost 650,000 shares since Q3 2020.
Even the banks want Bitcoin 👀 pic.twitter.com/SqvryJZu3t
— Kevin Rooke (@kerooke) January 8, 2021
“For speculative investment opportunities to rise to the level of an investable asset class that can play a role in diversified investment portfolios requires transformational progress on both the supply and demand sides.” It stated.
“With cryptocurrency, we think that threshold is being reached. A firming regulatory framework, deepening liquidity, availability of products and growing investor interest—especially among institutional investors—have coalesced.”
The note concluded by stating that cryptocurrency trading remains “in its infancy”, before stating that the bank is “yet to be convinced” and that it advises clients to proceed with caution.
Morgan Stanley owns more than 10% of Microstrategy shares, which has been considered to be indirect exposure to Bitcoin in light of Microstrategy’s close to 100,000 Bitcoin holdings.
For more news, guides and cryptocurrency analysis, click here.
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