It's been a crazy, wild, and interesting news week for crypto. Bakkt launched on Monday. The markets crashed on Tuesday. The stablecoins are looking good, but not much else. There still hasn't been a bounce back. Maybe we should just look at this as a time to buy.

Meanwhile, keep an eye on the Top Bitcoiners list on Twitter. You might like to follow the subject of our No. 10 news item, @OhGodAGirl.

Market Watch: It's been a rough week for crypto. Bitcoin and every major altcoin hit the floor Tuesday. In fact, for a couple of days, only stablecoins looked promising. If you're invested in Tether, it hasn't looked bad this week, so continue hedging. Something's up with Algorand, though. It hasn't looked good all week and has been in the bottom five at least twice. Today, it's the biggest loser of the top 100. ABBC Coin and Metaverse ETP have flipped. Yesterday, the latter was a top gainer and the former a top loser; their positions today are reverse. It's one of those weeks.

Prices are as of 12:43 p.m. EDT.

2. Led by Bitcoin, the entire crypto market took a plunge this week and Mashable is asking if Bakkt is the culprit. Bitcoin fell as low as $8,165 after spending several months testing $10,000 and staying above its key support for an extended period. The fall was approximately 15 percent. All the major altcoins followed. Bakkt, with much anticipation, launched a Bitcoin futures market on Monday, but trading has not met expectations. The total first-day trading volume reached 71 BTC. Celsius Network CEO Alex Mashinsky saw it as a signal that institutional investors weren't ready for BTC trading and that Bitcoin's $10,000 marker was too high. -- MASHABLE

Are you rooting for Kik or the SEC? Shoot me an email to allen.taylor@inside.com and let me know.

4. The U.S. Office of Foreign Assets Control (OFAC) added 11 bitcoin addresses to its Specially Designated Nationals (SDN) list. OFAC alleges that a group of Chinese nationals used the addresses for money laundering and drug trafficking. The addresses have not been sanctioned. Rather, they've been added to the list solely to inform the cryptocurrency community of the importance of identifying transactions that should be blocked. -- INVESTMENT WEEK

8. Google claims to have built the world's most powerful quantum computer, able to perform calculations in 200 seconds that would take a normal computer 10,000 years to perform. A NASA document claims we could be entering a new age of quantum supremacy. The document was taken down because, according to a source at Google, it might not have been peer reviewed. Nevertheless, if there is any substance to the claim, quantum computing could have huge implications for Bitcoin. For instance, a quantum computer could use Shor's algorithm to ascertain a private key from a public key address. -- DECRYPT

9. Nexo accepts tokenized gold for instant credit lines and will soon offer interest-bearing accounts for gold. PAX Gold will be regulated by the New York Department of Financial Services and allow gold-backed lending. PAX Gold currently provides instant access in over 45 fiat currencies across over 200 jurisdictions. PAX Gold represents physical gold held in Brink vaults in London on the Ethereum blockchain. -- COVINGTON JOURNAL

10. ProgPow author Kristy-Leigh Minehan has resigned as Core Scientific chief technology officer. She cited potential conflicts of interest as the reason. ProgPow aims to level the playing field in Ethereum mining by negating performance differences between ASIC, GPU, and FPGA miners. Ethereum Classic Executive Director Bob Summerwill uninvited Minehan from the ETC Summit last week due to connections Core Scientific has with Craig Wright, Calvin Ayre, and Coingeek. -- BITCOINIST

Inside Bitcoin is written and curated by award-winning journalist and former newspaper editor Allen Taylor. Recognized by the Dallas Bar Association three times for excellence in legal reporting, Allen has since gone on to author, edit, or ghostwrite several white papers, books and e-books, and over 10,000 blog posts for clients ranging from small business owners to global management companies and corporate executives. Learn more about him on LinkedIn.

Editor: David Stegon (senior editor at Inside, whose reporting experience includes cryptocurrency and technology).

Cryptocurrency News – TCAT Cryptocurrency News – REAL News ® Home » Nexo Revolutionizing the World of Finance Supporting HODL Bitcoin and NEXO Nexo Revolutionizing the World of Finance Supporting HODL Bitcoin and NEXO By Maheen Hernandez May 2, 2020 Off Nexo celebrated its birthday on April 30, 2020.  In 2 years, they are feeling good about 700,000 users +.  They are confident in that they will revolutionize the world of finance. Nexo has helped several investors make the crypto work for them.  It is the only insured account that permits borrowing instantly in 45 plus fiat currencies, thus making it possible for a daily interest on the idle interest of users. Being licensed and regulated and providing $100 Million Insurance on Custodial assets sets them apart from other lenders.  The Nexo Instant Crypto Credit Line works very instantly. Nexo is also excited about anything like Bitcoin, because they recently expressed that following client’s feedback, NEXO is pleased to announce that BCH gets facilitated as a repayment option for their Instant Crypto Credit Lines.  Thus they have already expanded the benefits of using Nano_io, but are contributing to enriching BCH’s adoption and utilization. It is good that Bitcoin Cash is now available as a repayment method for the BCH community. Coinmarket Cap recently covered the fact that Nexo Finance have evolved to have grown their global brand to reach out to a highly engaged audience and acknowledges the substantial customer growth with their advertising campaign. Making money apart, NEXO have contributed to a good cause.  They expressed that they were feeling proud to be matching $10k worth in crypto donations to Savethechildren’s noble cause with SavewithStories initiative! At a point in time when investors are looking towards safe-havens, Nexo opines that it would be good for investors to make use of the potential of probably the best store of value.  They have introduced a credit line process where it is possible for customers to borrow against tokenized gold when they need liquidity rather than selling it. Typically, relatable to pawn broking – Token Broking. Share var VUUKLE_CONFIG = )(); CategoryFinance Bitcoin (BTC) Halving Getting A Share of the Profit Pie Will It Pass like a Small Event Ripple XRP Something very active should happen for some Passive Income to happen in Cryptocurrency Space Maheen Hernandez A finance graduate, Maheen Hernandez has been drawn to cryptocurrencies ever since Bitcoin first emerged in 2009. Nearly a decade later, Maheen is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies.

Nexo will spend $12 million on its native token in the open market. Confirming the news in a press statement, the firm’s co-founder and managing partner Antoni Trenchev said: 

The company looks to continue growing the value of its token, which has already seen notable gains this year. Since October, it’s up around 160%.

It’s hoped that the move will reward investors who have supported the project from early on. 

As NEXO is an ERC-20 token, the purchases will be viewable on the Ethereum blockchain. Nexo has set up an Investor Protection Reserve with its own address on the network. The buybacks will have a vesting period of at least 12 months after repurchase, and locked tokens won’t be eligible for dividends.

That means current holders will benefit further from the program in the next round of dividends. 

Once vested, the tokens may be used for buyback trenches, interest or cashback payments, dividends, or to provide liquidity on decentralized exchange (DEX) pools. 

The platform’s token trades at $0.34 today. Its market cap is just north of $190 million. 

Disclosure: Nexo is a sponsor of Crypto Briefing.

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

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Despite the tumultuous year we had in 2020, cryptocurrencies have still managed to surface as one of the best-performing asset classes.

Considering this rising popularity, there are numerous solutions emerging that allow you to grow your digital currency holdings.

If you have cryptocurrencies sitting idle in your wallet, it might be the right time to consider other monetary possibilities. Instead of merely holding on to them, you can capitalize on your digital coins by obtaining financing.

Nexo is one such fintech solution that allows you to build on your digital assets holdings by giving you instant access to cryptocurrency-based loans.

In this review, we explore the ins and outs of what Nexo is and how you can make the most of its services via the NEXO token.

Launched in 2018 by Credissimo, Nexo is one of the world’s first crypto credit providers. It has already processed over $5 billion in crypto loans for over 1 million users in 200+ jurisdictions.

What makes Nexo different from other lending platforms is that you don’t have to go through any credit scrutiny or mention the purpose of the loan in order to obtain approval.

On Nexo, by collateralizing your current crypto holdings, your loan will be instantly approved, and the money will be deposited directly to your bank account. You can borrow as little as $10 and up to $2 million, depending on your collateral amount.

Nexo also allows you to earn daily compounding interest on your crypto or even fiat currency. You can earn up to 10% interest annually and withdraw your capital at any time at zero fees.

To further expand the utility of your crypto-assets, Nexo has also introduced a Nexo Card that you can use to spend your digital coins without having to sell them.

One of the most popular endeavors of Nexo is its native ERC20 utility token. The NEXO token is deemed the world’s first compliant and asset-backed digital currency that also gives you access to dividends.

The main attraction of NEXO is that it allows token holders to receive discounts on the platform and also gives you the ability to more interest on fiat and cryptocurrency deposits.

Here is a quick look at the benefits of holding a quantity of NEXO tokens:

If you believe in the prospect of NEXO, there are three ways for you to get your hands on NEXO tokens:

NEXO dividends are rolled out to all holders, no matter the number of tokens you hold or how long you have been holding them. However, you need to meet two conditions – you should have completed the KYC verification process and you should hold your tokens in the NEXO wallet.

NEXO employs an advanced distribution methodology to reward long-term investors for their confidence in the company. In addition, this approach will also decrease market volatility during the ex-dividend period.

Based on this strategy, NEXO is able to provide dividend profit-sharing in two different ways:

The dividends are calculated in US dollars and will be added to your Nexo wallet in NEXO tokens.

According to NEXO, such a methodology ensures that there is fairness in the dividend distribution. Moreover, it also helps to prevent market and price manipulation, as seen with other dividend-yielding instruments.

One of the main perks of holding NEXO tokens is that you get to take part in the NEXO loyalty program.

The program is split into four tiers – based on how many NEXO tokens you hold.

The requirements for each tier is as follows:

The higher tier you fall in, the better the loyalty benefits. This includes reduced borrowing rates, increased yields on your crypto deposits, and an increased number of free crypto withdrawals.

For instance, if you are on the Platinum tier, you can get a lowered interest rate of 5.9% on your crypto loans. On the other hand, when it comes to deposits, you can earn up to 10% in interest and an extra 2% in NEXO tokens.

The loyalty program is aimed to help you build on your digital asset holdings in the long run.

The only fees you are liable to pay on NEXO are withdrawal fees. As we mentioned earlier, you get up to three free withdrawals a month. When this limit has been reached, a gas fee will automatically be charged.

Nexo is compliant in all 200+ jurisdictions in which it operates. The security of clients’ funds continues to be a priority for Nexo. Currently, the company has partnered with Ledger Vault for the safety of wallet funds and has an insurance portfolio worth over $3 billion.

Furthermore, its partnership with BitGo ensures that you are protected in case of any third-party hacks, loss, or theft of your private keys.

The company also subjects itself to regular internal and external audits, and maintains high-level IT security policies for data protection and encryption. Overall, the system appears to be sound in terms of safety.

As an instant crypto lending pioneer, Nexo continues to offer the best rates in the market for both depositors and creditors. Today, it holds the position of the largest lender in the crypto industry.

However, what makes this project even more appealing is the NEXO token. Its unique tokenomics means that you can earn double-digit dividends. As such, its usability in the NEXO ecosystem puts forth an enticing offer to consider holding this digital currency.

Nexo, a crypto lending platform launched by Credissimo, has just doubled the rate of interest users will receive on their deposits. 

The new rates are a response to rising volatility and uncertainty in the marketplace, which Nexo attributes to the COVID-19 pandemic and upcoming US elections.

The update is the beginning of a new “Nexonomics” initiative aimed at making improvements to the NEXO token on the platform. The firm states that the improvements will deal with tokenomics, utility, and the native currency’s underlying value.

The firm now offers double the interest on BTC, ETH, XRP, BCH, LTC, EOS, LINK, XLM, TRX, and PAXG, with rates of up to 8% APY. 

In total, the two-fold increase in interest rates amounts to a 1% hike in standard interest.

Nexo co-founder and managing partner Antoni Trenchev described the company’s strategy as “market neutral,” stating:

The move may be part of the firm’s effort to remain competitive in the ever-growing DeFi sector. 

Nexo was founded in 2014 and has proven disruptive by slashing borrowing costs and paying out more interest to users than traditional financial services. However, with an ever-growing number of lending protocols in DeFi and over $11.27 billion in assets now locked in to the ecosystem, Nexo may now be cornering a smaller chunk of the market.

DeFi lenders such as Maker have seen major growth throughout 2020.

The new initiative to boost interest rates will likely be well-received by Nexo users and may be instrumental if Nexo remains a key player in crypto lending.

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

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Nexo announced the addition of the TRON (TRX) cryptocurrency as collateral for fiat currency loans.

Nexo offers both the possibility to obtain fiat currency loans by collateralizing cryptocurrencies and to lend funds in order to earn interest. 

With the new addition, the company expands its Instant Crypto credit lines by offering TRX owners access to the Earn on Crypto product, which allows users to receive up to 10% annual interest on lending digital assets.

The choice fell on TRX both because it is a popular token and because the TRON network has versatile use cases, high speed and a decentralized blockchain. 

TRX is the native cryptocurrency of the TRON blockchain, which thanks to its scalability and effective smart contracts can constantly handle over 2,000 transactions per second.

In turn, adding TRX to Nexo’s credit lines increases the usefulness of this cryptocurrency, alleviates sales pressure, and reduces emotional stress for holders. 

In fact, TRX secured loans allow its holders to borrow fiat money instead of having to sell tokens.

Nexo’s co-founder and managing partner, Antoni Trenchev, said: 

TRON founder and CEO of BitTorrent, Justin Sun, commented: 

Recently, the price of TRX has benefited from surges in the crypto markets, rising from less than $0.017 to over $0.019 in one month, a gain of more than 12%. 

It was since late February 2020 that it no longer fluctuated around $0.020, a level at which it had already been at the end of July last year. 

The peaks of over $0.250 at the beginning of 2018, in the middle of the speculative bubble, are still extremely distant, but at least the $0.026 figure reached in February of the same year does not seem to be so far off. 

The price of Bitcoin (BTC) has dropped substantially since Jan. 8, totalling a decline of more than $10,000 at time of publication. Retail investors could be part of the rationale behind the drop, according to Nexo co-founder Antoni Trenchev. 

“The price correction we’re seeing was brought about by retail investors following the lead of institutions that created the Bitcoin high,” he told Cointelegraph on Jan. 11, adding:

After blazing past its 2017 record high near $20,000, Bitcoin quickly doubled, hitting almost $42,000 per coin by Jan. 8. In the days following, the digital asset fell approximately 28%, down to almost $30,100.

Price advances often come with pullbacks, although a retracement does not necessarily indicate the end of an overall macro bull market. So what would signal a macro Bitcoin top?

“There are a few observable signs to watch for," Trenchev told Coitelegraph on Jan. 8. "Regulation, for example, has a powerful influence on the market,” he noted. “Regulatory activity that appears to tighten rules on crypto can dissuade new buyers.”

United States regulators have stepped up their engagement in the crypto space over the last few years — potentially the sign of a maturing industry. Several legal actions have recently come into the spotlight, including a proposal from the U.S. government aimed at tracking digital assets withdrawn from exchanges.

“There is even potential for over-excitement on the upside to cause some level of crash, although I doubt it’d be too big a concern,” Trenchev said. “Every year since 2013 has seen a ‘crash’ of around 25% of a peak earlier in the same year, and yet here we are with BTC hitting heights it never has before,” he added. “Corrections like this are an inevitable aspect of market behaviour,” he said on Jan. 8, referring to a smaller correction that occurred on that day.

“So much is made of institutional involvement when it comes to bitcoin price movement, and rightly so — however retail activity is something to watch closely for signs the market has topped,” Trenchev explained. “Many will panic, take their profit, and walk away — which can have a domino effect on the rest of the market.”

The latter half of 2020 hosted a noteworthy amount of Bitcoin attention from mainstream giants, such as MicroStrategy and MassMutual, potentially making this bull run different from years prior. 

UPDATE Jan. 12, 15:19 UTC: This article has been updated, correcting Antoni Trenchev's title from CEO to co-founder. 

From :: emailNexo is Removing All Withdrawal Fees From its onset, Nexo has always been about decentralized finance (DeFi) solutions forsocial inclusion and providing crypto banking services to even the remotest corners of the world.Running a truly global enterprise across200+ jurisdictionsmeans that Nexos signatureInstant Crypto Credit Linesand our high-yieldEarn Interestproducts are for anyone. Their very goal is to further enhance financial freedom and financial returns from the comfort of your Nexo Wallet, now available on alliOSandAndroiddevices.Since the beginning of 2019 Bitcoin has delivered astounding returns exceeding 840% on an annualized basis andNexo clients have been able to profitfrom the bull run in the mosttax- and cost-efficient mannerby borrowing against their crypto rather than selling it.The Nexo model is in line with Millennials' expectations as to what financial services should cost and Satoshis vision of low-cost transfer of value in a borderless manner.Maximize your returns now by securing anInstant Crypto Credit Linesand utilize Nexos high-yieldEarn Interestproduct to earn 8% per year, all at #ZeroFees. Share this amazing news with your community and let us together create the necessary pressure for all major companies and exchange in the crypto space implement a #ZeroFees model!Best Regards,Your Nexo TeamLabels:#nexo0 Comments: Post a CommentNewer PostOlder PostHomeSubscribe to:

The 6th edition of the CV VC Top 50 Report, released on March 3, 2021, shows striking growth in Crypto Valley in spite of the public health crisis. Between July 2020 and February 2021, the number of companies specialized in blockchain in Crypto Valley rose 4.4% from 919 to 960, total employment by blockchain companies grew from 4,784 to 5,164, and the number of unicorns increased from 6 to 11.

Joining the six blockchain unicorns of July 2020 are Aave, Cosmos, Solana, Near and Nexo. These 11 blockchain unicorns in Crypto Valley are all protocols and focus on areas such as scalability and security.

With the ongoing crypto frenzy that began in late-2020, markets have seen a surge in valuations with Ethereum reaching US$152.2 billion, making it the biggest blockchain project in the hub that represents more than 60% of the total capitalization of the blockchain sector in Crypto Valley. Ethereum is followed by Cardano (US$40.6 billion), and Polkadot (US$29.3 billion).

Like previous editions, the CV VC Top 50 H2 2020 report names its selection of the Crypto Valley Top 50 companies. Out of the 50 companies, 24 focus on blockchain technology, providing services related to data and analytics, hardware and infrastructure, and platform and protocol; 22 are applying blockchain in financial use cases such asset management, crypto banking, and payment and stablecoins; and 4 use the technology in other areas including art, insurtech, media and supply chain.

Together, these 50 companies are valued at a combined US$254.9 billion, have raised a total of US$3.7 billion in funding, and employ more than 800 people.

Big names that made the list include Bitcoin Suisse, a regulated Swiss financial intermediary providing prime brokerage, trading, custody and lending services, among other things, serving both private and institutions clients. Bitcoin Suisse, which is valued at an estimated US$302 million, is currently undergoing licensing as a Swiss and Liechtenstein bank.

Nexo, which recently reached unicorn status, is another Top 50 blockchain company. It specializes in lending and has some US$4 billion worth of assets under management.

Diem, previously known as Libra, is a stablecoin project led by Facebook that seeks to use blockchain technology to enable open instant and low-cost movement of money. Diem is valued at US$1 billion and has raised US$210 million in funding.

Other notable brands and blockchain companies in the CV VC Top 50 H2 2020 list include Crypto Finance, a firm serving institutional and professional investors, Mt Pelerin, a tokenization specialist, and Sygnum, the world’s first digital asset bank.

With the price of bitcoin reaching new highs, institutional adoption of cryptocurrencies has increased, and new financial applications, or so-called decentralized finance (DeFi) projects, have risen to prominence.

DeFi projects including Curve.fi, Enzyme and Oxygen were added to the Crypto Valley Top 50 list due to recent interest surge and booming activity. Curve.fi enables the direct exchange of stablecoins. Enzyme is the follow-on protocol of Melon, providing on chain asset management infrastructure. And Oxygen is developing infrastructure for prime brokerage services in DeFi.

Beyond financial services, use cases in other areas including supply chain, track and trace, healthcare, and non-fungible tokens (NFT) continue to develop, signaling that adoption of blockchain technology is rising across the board.

Maps.me, an offline mapping tool counting 140 million users, was added to the Crypto Valley Top 50 list for its rapidly growing user base. Modum, another Crypto Valley Top 50 company, specializes in supply chain traceability. Meanwhile, 4Art Technologies and inacta are building the application infrastructure and ecosystem for the traditional art space to be fully digitized.

As of February 2021, Zug remained the largest blockchain hub in Crypto Valley, being home to more than 400 companies or 45% of all companies in the zone. Zug is followed by Zurich (178), Liechtenstein (83), Geneva (57) and Ticino (49).

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Bitcoin (BTC) appears set to challenge record highs in the wake of this week’s dovish Federal Reserve meeting.

One expert, however, is calling caution, based on his observation of price charts as bitcoin rose from lows near $43,000 seen earlier this month. The chart pattern has taken the shape of what’s known as a rising wedge, a sign of uptrend fatigue.

“My concern is growing that we might run into a rising wedge scenario,” Patrick Heusser, head of trading at Swiss-based Crypto Finance AG, told CoinDesk in a Telegram chat. The wedge’s support line is pretty strong, with more than four touchpoints, and that does give me some confidence, though, if we break lower through the trendline, which is when things could get ugly.”

The rising wedge comprises converging trendlines connecting higher lows and higher highs. The converging nature of the trendline indicates the waning of upside momentum. Hence, a breakdown – a move below the lower end of the rising wedge – is considered a sign of bullish-to-bearish trend change.

According to Heusser, a move below $54,000 would confirm the rising wedge breakdown and open the doors for a drop to $47,000. The immediate bias will remain bullish while the wedge support is held intact.

At press time, bitcoin is changing hands near $58,900, having put in lows under $56,500 early Friday, according to CoinDesk 20 data.

The cryptocurrency jumped from $55,000 to $60,000 earlier this week after the Fed signaled no interest rate hike until at least 2024, pushing back against growing fears of an early unwinding monetary stimulus.

Also read: Nexo: $100K BTC Is Inevitable but Won’t Be a Smooth Ride

Some analysts say the Fed’s dovish tone has put the cryptocurrency on the path to new record highs above $62,000. Patrick voiced similar opinion, while pointing to the rising wedge.

“In terms of the bigger picture, I see no change. We are still in a bullish scenario, but the consolidation phase will take a little longer and that is not a bad thing,” Heusser said.

XRP price – Bitcoin Eyes USD 60K Again, Ethereum and Altcoins Surge

Bitcoin price is showing positive signs above USD 57,000. BTC broke the USD 58,000 and USD 58,500 resistance levels. It is currently (12:30 UTC) trading above USD 59,000 and it might soon aim for a test of USD 60,000.

Similarly, most major altcoins are rising steadily. ETH is back above USD 1,800 and it could attempt an upside break above USD 1,850. XRP/USD is gaining momentum and it might soon attempt to clear USD 0.585 and USD 0.600.

Total market capitalization

After forming a fresh support base above USD 57,000, bitcoin price restarted its rise. BTC broke the USD 58,000 and USD 58,500 resistance levels. The price even spiked above USD 59,000 and it seems like the bulls are aiming for a test of the USD 60,000 level. If there are more upsides, the price might trade to a new all-time above USD 62,000. On the downside, the USD 58,500 level is a short-term support. The first key support is now forming near the USD 58,000 level, below which it could test USD 57,200.

Ethereum price is gaining momentum above the USD 1,800 resistance. ETH traded above USD 1,820 and it might clear the USD 1,850 resistance zone. The next key resistance above USD 1,850 could be near the USD 1,920 level. An initial support on the downside is near the USD 1,810 and USD 1,800 levels. The main support is now forming near the USD 1,750 level.

Binance Coin (BNB) is up around 8% and it broke many hurdles near USD 280. BNB is approaching the USD 300 level. If there is a daily close above USD 300, there are chances of an increase towards the USD 335 and USD 340 levels in the near term. Cardano (ADA) cleared the USD 1.200 resistance and it is attempting a close above USD 1.220. If the bulls remain in action, the price might reach the USD 1.285 and USD 1.300 levels. On the downside, the USD 1.168 and USD 1.150 levels are important supports. Litecoin (LTC) is again attempting an upside break above the USD 200 resistance. If LTC settles above USD 200, it could start a fresh rally towards the USD 225 and USD 240 resistance levels. An intermediate resistance may possibly be near USD 232. XRP price formed a support base above USD 0.550 and it is slowly rising. The price is approaching the USD 0.585 level. The main resistance is still near USD 0.600, above which the price could surge towards the USD 0.635 and USD 0.650 levels.

Many altcoins gained over 10%, including HOT, DENT, CELO, FTM, HT, RUNE, ZRX, OKB, ICX, SOL, RSR, OMG, COMP, NEXO, and ALGO. Out of these, HOT is accelerating gains above the USD 0.0150 level.

To sum up, bitcoin is gaining pace above the USD 58,000 and USD 58,500 levels. The overall price action is positive, suggesting a possible fresh test of USD 60,000 in the near term. _____

XRP price – Bitcoin Eyes USD 60K Again, Ethereum and Altcoins Surge Tags: XRP price

The widespread adoption of cryptocurrencies continues. Today, Hong Kong-based Crypto.com has announced a partnership with Visa, including a principal membership in Visa’s network in Australia.

Per the  blog post, the crypto exchange is planning to accelerate the adoption of cryptocurrencies worldwide. As a Visa principal member, Crypto.com can now issue cards directly and bring world-first products to the market.

Currently, Crypto.com is shipping crypto.com Visa cards in Asia, mainly, Japan and South Korea, as well as in Africa, South America, and the Middle East.

Kris Marszalek, CEO of Crypto.com added that customers can now access the price of their crypto-funds at any time, as well as deepening customer’s bonds with the direct-issuance of cards globally.

Another key feature is the creation of “Spending Power”, a new product from Crypto.com that allows cardholders fiat lending using cryptocurrencies as collateral. User funds will be registered in the platform and the interest rate will be set at 9.9%.

This product follows the crypto-lending system led by companies like BlockFi, Celsius, and Nexo.

Visa entered the crypto market trying to capitalize on its growing sector, expanding its businesses towards crypto-enthusiast.

Yesterday, the payment giant stated its intentions of working with crypto wallets to allow users to pay with crypto, by trading crypto for fiat and using it in all places around the world that accept Visa.

“We are working with bitcoin wallets to allow the bitcoin to be translated into a fiat currency and therefore immediately be able to be used at any of the 70 million places around the world where Visa is accepted.”

Both the CEO of Crypto.com and the director at Visa stated the importance of crypto-assets in the digital economy. The global partnership will expand their market reach and allow crypto-transactions for millions of users globally. Marszalek stated:

“Having been a Visa partner for several years, we’re excited to deepen that relationship with a slew of world-firsts. Signing the global partnership with Visa and becoming a principal member with the world’s leader in digital payments affirms our commitment to accelerate the world’s transition to cryptocurrency.”

Disclaimer: Crypto.com is an advertising partner of CryptoSlate.

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Visa is set to enter the cryptocurrency market as the payments processor looks to capitalize on the sector’s growth and expand its worldwide business, a report on business outlet Moneycontrol said Tuesday.

Global payments giant Visa is launching a new crypto API pilot scheme designed to help banks facilitate Bitcoin and cryptocurrency services.

The payments giant might add cryptocurrencies to its expansive global network.

Commitment to Transparency: The author of this article is invested and/or has an interest in one or more assets discussed in this post. CryptoSlate does not endorse any project or asset that may be mentioned or linked to in this article. Please take that into consideration when evaluating the content within this article.

Disclaimer: Our writers' opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.

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Ask people about crypto and they are likely to talk about price, trends, NFTs, or maybe scams.

Web 3, the next generation of the internet, has been envisioned by proponents to run on a fully-decentralized blockchain to create a user-friendly web wherein a user’s identity and data are their own.

Last week, Michael Carter of YouTube channel Bits Be Trippin’ authored Ethereum Improvement Proposal (EIP) 3368.

The country is one of the biggest markets for crypto in the world and is known for its ‘Kimchi Premium.’ The month it went ballistic South Korean crypto exchanges are now processing more volumes each day compared to traditional stock exchanges, a report on local publication Hankyung said Monday.

SINGAPORE, March 18, 2021 /PRNewswire/ — Since completing the design of the secure multi-party computation algorithm in the solution Ethereum 2 Proof of Custody and implementing its first phase code last April, PlatON has been in close communication with Ethereum.