Ken Chigbo
Independent Analyst
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
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