Ripple Expands to Six Different Exchanges as XRP Price Strengthens

The second largest cryptocurrency in terms of market capitalization, Ripple has further expanded its reach to the cryptocurrency community by listing itself on six new exchange platforms. Ripple (previously Ripple Labs), the company behind XRP tokens, has announced the new development earlier this morning.

The platform’s blog post states that the expansion is part of Ripple’s earlier announced partnership with BitGo, which paved the way for the creation of enterprise-grade wallets with high-end security features. The development of enterprise level wallet solution will also make it more user-friendly for banks and financial institutions who are looking to use the cryptotokens for cross-border transactions.

The added security and existing relationship between few cryptocurrency platforms and BitGo have influenced the likes of Bitso, Coinone, bitbank and SCI’s BuyBitcoin to include support for XRP on their respective platforms. The blog goes on to state that the cryptocurrency will soon be added to AlphaPoint and Quione’s QRYPTO exchanges in the coming days.

Asheesh Birla, the VP or Product at Ripple is quoted saying,

“Listing XRP on several exchanges reduces the friction for our customers to send payments into these rapidly growing markets. Within hours our customers can get-up-and-running with payments into a new country.”

XRP’s listing on new platforms will also extend the cryptocurrency’s already massive user base, which will, in turn, influence the demand and supply dynamics. The upcoming changes in its usage and trading trends are expected to push the XRP’s price further upwards.

There has been a constant stream of announcements about improvements to Ripple platform and other developments, which also goes on to exhibit the platform’s arousal from inertia when it comes to the cryptocurrency side of business. Otherwise, most of its focus has been towards onboarding new banking institutions for implementation of its existing blockchain solution.

Increasing interest in XRP among cryptocurrency community members has already resulted in the displacement of Ethereum from its position as the second largest cryptocurrency. Ripple could continue to hold on to that position for longer than expected.

Ref: Ripple Blog | Image: NewsBTC


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The adoption of new technologies in the virtual world happens not first in the mainstream businesses but the entertainment and recreation sector. Two online industries — gaming, and adult entertainment have always featured in the list of early adopters of technological breakthroughs, creating new standards for all the other segments to follow. The relationship between gaming and cryptocurrency industries is a long-standing one, and now the bond has turned much stronger, thanks to the adoption of digital currency by online gambling and casino platforms.

In the early days of Bitcoin, it was considered to be similar to other in-game currencies like Second Life’s Linden Dollars. But over time, the cryptocurrency has proven that it is much different from those currencies and has more value in the real world than the virtual world. The powerful gaming hardware— GPUs played a major role in cryptocurrency mining, paving the way for specialized FPGA and ASIC mining hardware.

The widespread adoption of cryptocurrencies and their advantages over fiat currency has played a significant role in its increased adoption among online gambling platforms. The number of Bitcoin-only and cryptocurrency-supported online gaming platforms are on the rise, with new platforms and game titles being added on a regular basis. A handful of gambling platforms has also gone a step beyond to develop blockchain-based games with smart contract integration to create a new generation of online gambling games.

The global nature of cryptocurrency gambling platforms makes it easier for players from any part of the world to access and wager their Bitcoin stash. The situation has also led to a rise in the number of people looking for suggestions regarding the best, reliable online gambling platforms, to prevent themselves from being scammed by fake websites. Reputed casino review sites are playing a significant role in helping cryptocurrency enthusiasts, and avid gamblers choose trustworthy platforms offering provably fair games.

However, when it comes to cryptocurrency investments and gambling of any sort, the golden rule remains the same. Investors and gamblers are urged to keep track of their spending and ensure that they don’t invest more than what they can afford to lose. Also, irrespective of the platform and reviews, it is best to conduct a thorough due diligence to ensure the legitimacy of programs and platforms.

Making a strategic investment in cryptocurrency is not straightforward. There are many coins and tokens to choose from. A lot of people will buy Bitcoin in the hopes of seeing the price go up. However, they should consider investing these bitcoins in programs such as Bit-Bonum. With daily payouts and a trusted platform, making a profit with cryptocurrency has never been easier.

It is good to know there are trustworthy platforms to invest bitcoin and make a profit. Bit-Bonum checks all of the right boxes, as the company is officially registered in the United Kingdom. Moreover, they provide instant withdrawals, a dedicated server to ensure the platform is accessible, and a nice affiliate program. There is no reason not to give this company a try as a Bitcoin holder.

Looking at the investment plans, Bit-Bonum has quite a lot to offer as well. Bitcoin users can earn between 3.12% and 5.04% every single day. Those are all very generous amounts, depending on how many people are actively investing, though. The payouts are calculated and credited to the account every hour. It is possible to invest in this platform starting with just 0.01 Bitcoin. The maximum investment amount the company accommodates is 100 Bitcoin.

The affiliate program provided by Bit-Bonum is worth looking into as well. With a 5% referral commission, inviting friends and letting them become rich has never been more lucrative. Even people who do not invest in Bit-Bonum will earn referral commission. The company also provides a set of banners to ensure people can successfully invite others without any issues.

As one would expect, Bit-Bonum makes money by actively trading cryptocurrencies. A lot of money has entered the cryptocurrency scene a soft late. There are plenty of opportunities to increase holdings. Rather than going through the motions oneself, Bit-Bonum lets everyone make money by investing Bitcoin. There is good money to be made with this program.

Header image courtesy of Shutterstock

Ransomware attacks aren’t new to the internet. There are recorded instances of such attacks even before Bitcoin came into existence. However, in the recent years, the number of ransomware attacks involving demands for payment in Bitcoin has rocketed through the roof. These incidents, mostly targeting businesses have put many companies on edge, forcing them to invest in Bitcoin as a measure to deal with potential attacks in the future.

Many companies in the UK and United States started the practice last year, but following the global scale WannaCry ransomware attack, the trend has spread to other countries as well. According to reports, the companies investing in Bitcoin has increased during the past week following the latest incident targeting out-of-date Windows-powered IT infrastructure.

WannaCry ransomware affected individuals and businesses using Windows XP, Windows Server 2003 and Windows 8 devices in about 100 countries. The ransomware, which spread using an exploit on SMB protocol, encrypted almost all the files available on the infected devices. In order to obtain a decryption key, victims (both individual and businesses) were asked to pay anywhere between $300 to $600 in Bitcoin. The security exploit, one of the many tools belonging to the NSA’s cyber-arsenal was divulged earlier by the hacker group Shadow Brokers. Other affected devices include Microsoft Windows installations without the security patch issued by the company earlier in March 2017.

Explaining the companies’ decision to procure Bitcoin, Florin Lazurca — a senior technical marketing manager for security at Citrix Systems said,

“It’s one of the tools in their pockets. It is one of the things where you might be trying to cover all your bases, and so it lets you still recover your data and network. “

In the case of a ransomware attack, it is not advisable to pay the ransom. However, provided the severity of the situation, if the company must recover certain critical data which is essential for their operations, they might have to resort to paying the ransom. These issues won’t occur if businesses follow the practice of creating a regular backup of important files and keep their IT infrastructure updated with latest security patches and cybersecurity software.

As some companies fail to learn from the experience of others, the practice of maintaining a Bitcoin reserve will probably come in handy when they get hit by ransomware. Until then, an increase in cryptocurrency’s demand could help Bitcoin price, allowing investors to make hay while the sun shines.

Ref: NBC News | Image: NewsBTC

India remains a critical region for Bitcoin adoption right now. Even though the local central bank advises consumers are cautious when dealing with Bitcoin, consumers are disregarding the warnings. In fact, it appears nearly 2,500 people invest in Bitcoin every single day. That is a rather surprising number, although it may only be a hint of things to come. Things are looking quite good for Bitcoin in India, that much is evident.

To put this story into perspective, the numbers related to the ZebPay exchange. The company mentions they add about 2,500 people every single day. This does not mean they are all active users, though. However, it does highlight a growing demand for Bitcoin in India, which is a positive development.  ZebPay has always been one of the more popular Bitcoin exchange platforms in the country. It does not appear that the situation will change anytime soon.

India Is An Important Region For Bitcoin And Cryptocurrency

Such a significant growth should not be overlooked by any means, though. Albeit 2,500 users per day may sound like nothing, it is quite impressive regardless. Some companies struggle to even get to 2,500 users in total. India is a key region for Bitcoin and cryptocurrency, that much is certain. Moreover, it also appears a lot of people are downloading the company’s mobile app, which is good news. Mobile finance is quite popular in India after all.

The Reserve Bank of India remains a bit cautious of Bitcoin. In fact, the institution has warned consumers multiple times about using virtual currencies. Bitcoin and other currencies are not issued by the central bank, which makes them a risky investment. Then again, other types of traditional investments are not more or less risky by any means. The RBI can’t control Bitcoin, which will always remain a big problem in their opinion.

This news comes at an interesting time for cryptocurrency overall. With a lot of money pouring into Bitcoin, digital assets, and tokens, it is evident things will only get better from here on out.  As more and more consumers grow aware of what Bitcoin has to offer, demand will undoubtedly increase over time. These are very exciting times for cryptocurrency in general. India continues to see impressive growth, and other regions around the world show more interest as well. It will be interesting to see how the ecosystem looks a few years from now.

It appears we may be getting closer to scaling Bitcoin than originally assumed. That is, if Barry Silbert is to be believed. He has been going on about miners supporting a “scaling compromise” as of late. In one of his recent tweets, that support has grown to over 70%. However, very few people know what he is talking about right now. It is evident something needs to happen sooner rather than later.

Barry Silbert and Scaling Bitcoin

Barry Silbert may be the one person to successfully make Bitcoin scale. That sounds very strange, but it seems things are heading in this direction right now. About a day ago, he posted the tweet below which has sparked interesting debates among community members. It is evident scaling Bitcoin should be a top priority right now. Activating Segregated Witness and a 2 MB block size increase in the next year sounds appealing.

What is even more interesting is how a lot of miners seemingly support this concept. According to Silbert, various Bitcoin service providers pledged support for this change. Moreover, nearly 80% of the Bitcoin hash rate is in favor of this idea as well. So far, uniting miners for a particular bitcoin scaling solution has been virtually impossible. It seems highly unlikely this solution will be different, though. Someone saying they will support a solution and effectively doing so are two very different things for sure.

A Scaling Compromise?

As interesting as this concept may sound, things may not change all of a sudden either. The ongoing stalemate in the Bitcoin world needs to end sooner rather than later. According to Coin.Dance, 87% of the company’s favor Segregated Witness. That is still quite a big amount, although the mining statistics say something else. Support for Emergent Consensus is still above 40%, with SegWit following at 34.1%. If an agreement can be formed among miners and Bitcoin companies, things could look very different in a few weeks from now.

It is good to see prominent people such as Barry Silbert weigh in on these discussions, though. It is evident something will need to change sooner rather than later. A compromise appears to be the best course of action for all parties right now. It remains to be seen if this decision will play out in a positive manner, though. A lot of questions remain in place right now, and scaling Bitcoin will not be an easy feat.

Hello and welcome to News BTC’s Market Outlook May 18.

DASH/USD

DASH fell initially during the trading session on Wednesday, but found enough support at the $77.50 level to turn things around and form a hammer. This just shows how much interest there is underneath and because of this it’s likely that every time we pull back there should be a bit of a bounce. The market seems to be accumulating and trying to build up enough momentum to finally go reaching towards the $100 level again.

LTC/USD

LiteCoin fell during the day initially on Wednesday but found enough support at $21 to turn things around and form a supportive looking candle. Because of this, it’s likely that the market will bounce from here and go looking for the $30 level, then perhaps the $35 level after that. The market has been in an uptrend for some time, so this move of course makes quite a bit of sense.

Thanks for watching and see you again tomorrow.

Hello and welcome to News BTC’s Market Outlook May 18.

ETH/USD

Ethereum initially fell against the US dollar but found the $85 level to be supportive again, thereby showing signs of resiliency. Because of this, it appears as if the market will continue to bounce and perhaps try to break out to the upside. I have no interest in shorting this market, and look at pullbacks as value just waiting to be had. With this being the case, it’s likely that traders are trying to build up enough momentum to finally reach $100 again.

ETH/BTC

Ethereum continues to grind sideways against Bitcoin, and therefore it looks as if building a longer-term position may be what traders are trying to do. Ultimately, it’s very likely that the market will continue to see support just below, so dips offer value. If we can break above the 0.06 level, then the market is free to go much higher. Until then, it simply looks like an accumulation phase from what I can see.

Thanks for watching and see you again tomorrow.

Hello and welcome to News BTC’s Market Outlook May 18.

BTC/USD

Bitcoin continues to rally as Wednesday was very profitable. The market broke above the $1800 level, and it now looks as if we’re going to test the highs again. Because of this, short-term dips continue to offer buying opportunities and what is a very strong uptrend. A break above the $1900 level almost certainly sets the stage for $2000.

BTC/JPY

Bitcoin also rallied against the Japanese yen, making a fresh, new high. Because of this, looks as if the market will continue to go much higher as the consolidation is over and we are now free to go even higher. Pullbacks continue to be value that should be taken advantage of, as Bitcoin seems to be on a bit of a roll now. The ¥210,000 level should be supportive going forward.

Thanks for watching and see you again tomorrow.

Key Highlights

  • After a sharp decline in ETH price towards the $80 handle against the US Dollar, a recovery started.
  • A major bearish trend line with resistance at $87.90 on the hourly chart (ETH/USD, data feed via SimpleFX) was broken.
  • The price is currently attempting a close above the 100 hourly simple moving average at $89.

Ethereum price managed to recover well from losses against the US Dollar and Bitcoin, and now ETH/USD is back in the bullish zone.

Ethereum Price Recovery

Yesterday, we saw a major decline in ETH price below $85 against the US Dollar. There was a sharp downside move and the price traded as low as $82.39. I mentioned that there is a chance of the price testing the 1.236 extension of the last wave from the $83.35 low to $93.49 high. It almost tested the same, traded as low as $82.39, and started a recovery. ETH/USD was successful in breaking the 38.2% Fib retracement level of the last decline from the $93.49 high to $82.39 low.

However, the most important break was above a major bearish trend line with resistance at $87.90 on the hourly chart of ETH/USD. At the moment, the price is attempting a close above the 100 hourly simple moving average at $89. Moreover, the 61.8% Fib retracement level of the last decline from the $93.49 high to $82.39 low is acting as a resistance and preventing further gains.

Ethereum Price Technical Analysis ETH USD

In my view, the price needs to close above the 100 hourly simple moving average and $90. If may find it difficult, so there can be a dip towards $87-85 before it makes another attempt. On the upside, the next major hurdle is near $90.87, which represents a swing high.

Hourly MACD – The MACD is attempting to move in the bullish zone.

Hourly RSI – The RSI has managed to move above the 50 level.

Major Support Level – $87.00

Major Resistance Level – $90.00

 

Charts courtesy – SimpleFX