Here's what you need to know on Tuesday

Markets

BTC/USD is currently trading at $7780 (+0.85%), near-term consolidation being observed, with the bulls gunning for a big $8000 return.

ETH/USD is currently trading at $197 (+1.25%), consolidating below $200, a move above could be explosive.

XRP/USD is currently trading at $0.21 (+7.70%), a huge surge in momentum came into play, following the bulls breaking out of a bullish pennant structure. 

Among the 100 most important cryptocurrencies, the best of the day are LEND $0.040311(+17.80%), XLM $0.070023 (+12.85%) DGTX $0.048779 (+11.15%) The day's losers are HIVE $0.520393 (-31.92%), STEEM $0.205073 (-7.55%), MAID $0.098937 (-4.60%).

Chart of the day: XRP/USD 4-hour chart (Price action has smashed out of a bullish pennant structure, inviting greater buying pressure)

Market

Tron (TRX) announced that its decentralized applications (dApps) will now be available on the Samsung Galaxy Store. Samsung smartphones and tablet users will now be able to use Tron-based dApps. Specifically, Samsung smartphone and tab users will now be able to download these dApps from a specific section of the Galaxy Store.

Bitcoin bull Tim Draper back in 2018, made a public estimate that Bitcoin would reach $250,000 by the end of 2022 or 2023, and has doubled down on this as of today.  He stated that he was “very confident” in the event happening in a recent interview.

A $30,000 proposal submitted by the group running Dash’s Japanese website has just received approval to continue their efforts to get the token relisted in Japan. According to an April 27 update on a DashNexus proposal, Yosuke Suda of Dash Japan has purportedly been working with the Dash Core Group to get DASH back in the hands of Japanese investors. 

Regulation

The United States Securities and Exchange Commission (SEC) has given the green light for the public Private Execution Network (PPEX), an alternative trading system for private securities and digital assets, to launch in the country. Documents have shown that the North Capital Private Securities, a broker-dealer that developed the new trading system, successfully completed the membership application from the Financial Industry Regulatory Authority (FINRA) earlier this year. 

Industry 

Digital asset manager Grayscale Investments bought about 50% of all newly mined ethereum so far this year. It now holds the equivalent of 1.1% of ETH in circulation, according to a post on Reddit. Grayscale operates 10 cryptocurrency investment products focused on institutional investors.

Ya'an, one of the many cities in China's mountainous Sichuan province, a region that's estimated to account for over 50 percent of Bitcoin network's computing power, has recently issued a public guidance – likely in its first – to seize the "strategic opportunity of the blockchain sector" so that they can help consume the area's excessive hydropower electricity. According to a local daily's report on April 20, the government seeks to make the city a high-quality example for consuming excessive hydropower electricity and build itself into "an impactful blockchain industry hub" in the country.

Bitfinex, a well-known cryptocurrency exchange, has launched a social platform for community members to interact and share ideas.

The second largest bank in Japan will sign a deal with SBI Holdings to offer digital banking services available on smartphones. According to an April 27 article in the Nikkei newspaper, the Sumitomo Mitsui Financial Group (SMFG) and SBI have launched the first steps towards a multimillion dollar agreement expected to conclude later this week, before Japan enters its Golden Week banking holidays. 

Quote of the day

If BTC doesn’t hit $250k, I’ll eat a raw egg

Tim Draper

 






 

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Cryptos feed Join Telegram

Recommended content


Recommended Content

Editors’ Picks

Bitcoin Weekly Forecast: Assessing likelihood of 80% rally for BTC before 2023

Bitcoin Weekly Forecast: Assessing likelihood of 80% rally for BTC before 2023

Bitcoin price action over the last 72 hours indicates that a massive bullish move is coming. In the last two articles, we have taken a look at why this is possible from a technical and on-chain perspective. 

More Bitcoin News

Luna Classic price: Binance burned 6 billion LUNC, triggering massive rally in the altcoin

Luna Classic price: Binance burned 6 billion LUNC, triggering massive rally in the altcoin

Luna Classic (LUNC) price witnessed a massive spike on Friday, after yielding 12% gains overnight. The move came after the world’s largest crypto exchange, Binance announced it would be burning 6.39 billion LUNC tokens. 

More Luna Classic News

Binance native token BNB and staking derivatives bleed after $5 million DeFi exploit on Ankr Protocol

Binance native token BNB and staking derivatives bleed after $5 million DeFi exploit on Ankr Protocol

Binance’s native token BNB suffered a 3% decline in response to the $5 million exploit on DeFi protocol Ankr Protocol. The BNB chain-based protocol confirmed that it has fallen victim to a multi-million dollar exploit. 

More Binance Coin News

Cardano price gets underpinned, could move 10% north before New Year

Cardano price gets underpinned, could move 10% north before New Year

Cardano (ADA) price action is trading in more quiet waters as the spillover effects and aftermath of FTX and BlockFi bankruptcies are finally easing into the background. 

More Cardano News

Bitcoin: Assessing chances of one last bear market rally for 2022

Bitcoin: Assessing chances of one last bear market rally for 2022

BTC is in a good place to trigger another bear market rally from a high-time frame perspective. This development, combined with the optimistic outlook seen in on-chain metrics, further strengthens the possibility of a happy ending to 2022.

Read full analysis

BTC

ETH

XRP