Exchange-Traded Products for XRP, Litecoin Go Live for EU Investors

Exchange-traded products (ETPs) tied to the prices of the cryptocurrencies XRP and litecoin have gone live on the Nordic Growth Market, a subsidiary of the Borse Stuttgart exchange. Announced Thursday, the four ETPs (two for XRP, two for Litecoin) are available to investors based in the European Union, according to XBT Provider, the firm behind the products. XBT Provider, which is based in Stockholm, has launched a series of investment products tied to the prices of cryptocurrencies since 2015, when its bitcoin-connected ETP went live on the Nasdaq Stockholm exchange.…

Central Bank Digital Currencies Won’t Be on Blockchain

American economist and notorious crypto critic Nouriel Roubini has argued that if and when central bank digital currencies (CBDCs) are adopted, they won’t be based on blockchain. Roubini — otherwise known as “Dr. Doom” for his prediction of the 2008 housing bubble collapse — made his comments during a joint panel with Ethereum (ETH) co-founder Vitalik Buterin at the Deconomy conference in Seoul, South Korea, on April 4, a Cointelegraph correspondent reports. As previously reported, CBDCs are distinct from cryptocurrencies in that they are digital currencies issued by a central…

Bitcoin Faces Price Pullback Amid Extremely Overbought Conditions

View Bitcoin’s quick drop from a 4.5-month high of $5,345 to levels below $5,000 validates the extremely overbought readings on the 14-day relative strength index. BTC could consolidate around $5,000 with a negative bias over the next day or two. A pullback back to key support levels at $4,672 and $4,565 (200-hour MA) can’t be ruled out. The longer-term outlook will remain bullish as long as bitcoin’s price holds above the former resistance-turned-support of $4,236. Bitcoin (BTC) could be in for a minor price pullback as the RSI is showing…

Crypto Exchange Binance Is Setting Up Shop in Singapore This Month

Cryptocurrency exchange Binance is launching a new fiat-to-crypto exchange in Singapore later this month. The news was announced Thursday by Binance CEO Changpeng “CZ” Zhao at the Deconomy event in Seoul, South Korea, in a tweet on the exchange’s account that said: “#Binance Singapore will come online in April. It will be our next Fiat to Crypto exchange servicing $SGD [Singapore dollar].” No further details were provided, such as which cryptocurrencies will receive trading support. The plan to set up the new trading platform was first revealed by Zhao in September at…

Bitcoin (BTC) Bull-Run Reaches Crucial Juncture, But Breakout Likely

Bitcoin price settled above the key $5,000 hurdle and tested the $5,240 resistance against the US Dollar. The price faced a strong selling interest near the main technical barrier at $5,240-5,260. There is a major connecting bullish trend line formed with support near $4,200 on the daily chart of the BTC/USD pair (data feed from Kraken). The pair corrected recently, but it is likely to make another breakout attempt above $5,240. Bitcoin price started a massive bull-run above the $4,500 and $5,000 resistances against the US Dollar. BTC is currently…

EU Blockchain Group Launches With SWIFT, Ripple Onboard

SWIFT, IBM, Ripple and around 100 other firms and organizations have joined a new blockchain association to promote adoption of the technology across the EU. A European Commission initiative, the new group – the International Association of Trusted Blockchain Applications (INATBA) – is launching Wednesday in Brussels, Belgium. INATBA has been set up as a “global multi-stakeholder forum” aimed to bring together developers and users of blockchain technology to promote mainstream adoption across multiple sectors. The association plans to build a framework to encourage public and private sector collaboration, dialogue…

Bitcoin Cash, Litecoin And Dogecoin Bulls Aim Higher Despite Sharp Dip

The total crypto market cap extended upsides and traded close to the $180.0B resistance. Bitcoin cash price almost doubled and it recently touched the $340 level before correcting lower. Litecoin (LTC) traded close to the $100 resistance before a decent pullback. Bitcoin SV is also trading nicely and it recently tested the $90 level. Dogecoin price surged more than 20% and it recently tested the $0.0035 level. Sharp gain in bitcoin cash, litecoin, dogecoin, BTC, XLM, ripple and ADA fueled $40.0 billion crypto rally. BTC, XRP and ETH corrected lower…

Ripple (XRP) Price Holding Crucial Support & Likely To Bounce Back

Ripple price climbed sharply and tested the $0.3750 resistance before correcting lower against the US dollar. The price corrected below the $0.3600 and $0.3480 support before buyers appeared near $0.3280. Yesterday’s highlighted important bullish trend line was breached with support at $0.3600 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair must stay above the $0.3300 support and the 100 hourly SMA to bounce back. Ripple price corrected lower sharply after a strong rise against the US Dollar and bitcoin. XRP tested a crucial support…

Ethereum (ETH) Price Corrects Sharply: Is This Buying Opportunity?

ETH price traded further higher towards the $180 level before correcting lower against the US Dollar. The price dipped sharply below the $170 and $165 support levels to move into a short term bearish zone. Yesterday’s highlighted key bullish trend line was breached with support at $173 on the hourly chart of ETH/USD (data feed via Kraken). The pair found a strong buying interest near the $155 support and it is currently moving higher. Ethereum price started a major downside correction after a massive upside versus the US Dollar and…

A16z, Polychain Invest $25 Million in Crypto Payments Startup Celo

Andreessen Horowitz’s cryptocurrency fund A16z Crypto and venture capital firm Polychain Capital have invested $25 million in cryptocurrency payments startup Celo. Celo announced Tuesday that the two investors have purchased $15 million and $10 million in the project’s Celo Gold tokens, respectively. The token-based funding effort also saw participation from “several other leading institutions” from across the world, Celo said, with the amounts not being disclosed. Celo’s protocol is designed to be mobile-friendly and “ultralight,” allowing funds to be sent to cellphone numbers. The Celo Gold token it describes as…