Connect with us
iubh
Advertisement
Alpha
Advertisement
Hotflex
Advertisement
british airways
Advertisement
Advertisement
UBA
Advertisement
Patricia
Advertisement
app

Cryptocurrency

XRP surges by 20% amid strong buying

XRP had traded in a range of $0.61963 to $0.70849 in the previous twenty-four hours.

Published

on

Crypto owners robbed of 1,150,000 XRP, Ripple owners say XRP will be worth $100, XRP losing steam as BTC & ETH gain investors' funds

XRP, the seventh most valuable crypto asset by market value, is currently enjoying high pressure amid recent pullbacks seen in the price of the flagship crypto asset.

At the time of writing, XRP was trading at $0.70847 up 20.25% for the day. It was the biggest one-day percentage gain since about 9 weeks ago.

The move upwards pushed the crypto market value to about $32 billion or 1.67% of the total crypto market value. At its highest, XRP’s market value was pegged at $31.5 billion.

READ: Brutal losses hit crypto market amid fear of regulation

XRP had traded in a range of $0.61963 to $0.70849 in the previous twenty-four hours.

For the week, the crypto asset has seen an exponential gain of 26.69%. The volume of XRP traded for the day at the time of writing stood around $7. 4 billion or 4.92% of the total volume of all crypto assets. XRP traded in a range of $0.5309 to $0.7085 for the week.

Such impressive gains would surely soothe the nerves of many XRP enthusiasts bothered by the ongoing legal tussle between Ripple and a powerful financial regulator.

READ: $90 billion wiped off in Crypto market as Bitcoin tumbles by 5%

Sigma Pensions

Some crypto pundits however argue that the legal tussle between Ripple and XRP in the USA is not really affecting its price rising in the long term. Experts envisage it is going to be a super bullish bias for XRP when it is relisted on Coinbase and other top American crypto exchanges.

Ripple’s XRP is often tagged as the “remittance network” and currency exchange that independent servers authenticate. The crypto is known as XRP and transfer times are super-fast.

Ripple (XRP) plays dual roles as a payment platform and a currency. The platform is an open-source platform that was created to allow quick and cheap transactions.

Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment trading. Message Olumide on Twitter @tokunboadesina. He is a Member of the Chartered Financial Analyst Society.

Click to comment

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Cryptocurrency

Bitcoin ETF in North America has reached $1 billion in assets

The first North American Bitcoin ETF has already reached $1 billion (C$1.25 billion) in assets less than two months after its launch.

Published

on

According to a statement from its issuer, the first North American Bitcoin ETF has already reached $1 billion (C$1.25 billion) in assets less than two months after its launch. What exchange-traded funds did to the conventional investing market for decades could happen to cryptocurrency players in a fraction of the time.

Investors are clamoring for crypto exposure, particularly in an exchange-traded fund wrapper, and the product from Toronto-based Purpose Investments, ticker BTCC, has seen a lot of interest. Although there are many crypto funds in Europe that work similarly to ETFs, this is the first ETF anywhere.

More than $165 million worth of shares were traded on the fund’s first trading day in February, a big start for a fund in the much smaller Canadian ETF market.

Its rapid cash accumulation reflects the high demand for Bitcoin products in the United States, as issuers compete for approval of the first Bitcoin ETF in the nation. Despite regulator resistance to accept the tactics, at least eight companies, including VanEck Associates Corp. and WisdomTree Investments, now have live applications with the Securities and Exchange Commission.

On Tuesday, Bitcoin surged to an all-time high of about $63,246 ahead of Coinbase Global Inc.’s upcoming IPO later this week.

There is an increasing expectation that a bitcoin ETF will be available in the United States in the not-too-distant future. Gary Gensler, the nominated chairman of the Securities and Exchange Commission, has taught cryptocurrency classes. The bitcoin market has exploded in popularity in recent months, attracting the attention of major financial institutions. Bitcoin ETFs are once again being sought by VanEck, Fidelity, and others.

One advantage of ETFs is that shares can be readily created and redeemed to arbitrage away any discount or premium, which could greatly broaden their appeal. ETFs are also cheaper, which will put pressure on fees across the bitcoin ecosystem. Hence market sentiment may push the ETF higher.

Sigma Pensions
Continue Reading

Cryptocurrency

Bitcoin is on fire, breaks above all-time high

The flagship crypto traded at $62,645.26 with a daily trading volume of about $60 billion.

Published

on

Bitcoin on high demand, hits 2-year high, trading $17,000

Bitcoin prices ascended to a record high on Tuesday, hitting another milestone at above $62,000, a move that many reaffirm to be a bullish trend in the cryptoverse and one that can make other digital assets surge.

At the time of writing this report, the flagship crypto traded at $62,645.26 with a daily trading volume of about $60 billion. Bitcoin is up 2.99% for the day. The world’s most popular crypto now has a market value of about $1.17 trillion.

Adding credence to the strong bullish run in play is data retrieved from Glassnode pointing to the fact that holders of the flagship crypto are selling less, as Bitcoin deposits on exchanges hit a 30-day low.

BTC Number of Exchange Deposits (7d MA) just reached a 1-month low of 2,837.702.

READ: Why Bitcoin might likely hit $100,000 soon

READ: Bitcoin produces 4 billionaires worth at least $3 billion each

More details later…

Sigma Pensions

Continue Reading

  





Nairametrics | Company Earnings

Access our Live Feed portal for the latest company earnings as they drop.