CEO’s Delight, Ripple (XRP) Has Low Correlation With Bitcoin (BTC)

Ripple (XRP) down 6.4 percent Low correlation with Bitcoin prices means XRP is the best diversifier Brad Garlinghouse must be happy, Ripple (XRP), a Binance research report reveals, has a low correlation with Bitcoin (BTC). Because of that, it is a good diversifier for investors willing to spread out their risks. Nonetheless, Ripple (XRP) prices are down, shedding 6.4 percent in the last week. Ripple Price Analysis Fundamentals Based on historical cryptocurrency market performance, diversification may, after all, not be ideal for investors. That’s what the last Binance report shows.…

CEO’s Delight, Ripple (XRP) Has Low Correlation With Bitcoin (BTC)

Ripple (XRP) down 6.4 percent Low correlation with Bitcoin prices means XRP is the best diversifier Brad Garlinghouse must be happy, Ripple (XRP), a Binance research report reveals, has a low correlation with Bitcoin (BTC). Because of that, it is a good diversifier for investors willing to spread out their risks. Nonetheless, Ripple (XRP) prices are down, shedding 6.4 percent in the last week. Ripple Price Analysis Fundamentals Based on historical cryptocurrency market performance, diversification may, after all, not be ideal for investors. That’s what the last Binance report shows.…

Binance Stablecoin? CZ in Possible Tip of the Hand Is a Little Coy

By CCN: Just when you thought the crypto market had no room for another stablecoin, the head of the largest crypto exchange hinted that he might be making room. Binance CEO Changpeng “CZ” Zhao didn’t flat out promise a Binance stablecoin, but he was close. A follower on Twitter suggested that if Binance were to issue a stablecoin, it would bolster the use case for BNB, using other projects as a litmus test for its potential success. As usual, CZ is way ahead of crypto Twitter: “Careful what you wish…

Tether (USDT) Promotion, Bitcoin (BTC) Likely to Print Higher

Bitcoin (BTC) in an uptrend but down 4.3 percent Tether’s reserve low and the peg isn’t 1:1 against the USD It is now emerging that USDT’s reserves don’t tally with what’s in circulation. That means Tether Limited is lying and investors may flock to safety driving Bitcoin prices up. At the moment, BTC is down 4.3 percent from last week’s close. Bitcoin Price Analysis Fundamentals Because of all the drama, investors are reluctant. However, that is not to say they are bearish. While there is a tinge of bearish sentiment,…

Austin Transportation Partners With Iota Foundation to Develop Interoperability Ecosystem

The government transportation department in the city of Austin, Texas partnered with nonprofit Iota Foundation to develop a more interoperable transportation ecosystem. The Austin Transportation Twitter account reported on the partnership on April 25. The tweet contained a link to an event — which took place on April 29 — featuring Dominik Schiener, co-founder of the Iota Foundation, and local authority holders delineating the scope of the partnership. During the meeting, the speakers describe their visions of a system in which every transit system can interact with the same payment…

Indictment Reveals Connection to Bitfinex, QuadrigaCX’s Shadow Banking Services

The April 30 indictment of two individuals on multiple counts — including bank fraud and operating an unlicensed money transmitting business — reveals an apparent connection to the shadow banking services that were used in two recent high-profile crypto exchange controversies. The indictment — charging Arizona resident Reginald Fowler and Ravid Yosef, a resident of Tel Aviv, Israel — was announced in a news release from the United States Attorney’s Office for the Southern District of New York (SDNY) on April 30. According to the SDNY announcement — published alongside…

Crypto Investment Firm Advertises Bitcoin as Superior

By CCN: Grayscale Investments is starting a movement urging all investors to drop gold and replace it with the better store-of-value, bitcoin. In a Monday morning Medium post, the digital asset management group announced its new #DropGold campaign. Beyond a catchy hashtag, the anti-gold campaign includes a website, upcoming debate, and a television ad push. Their commercial makes a compelling argument. Why is #gold still in your portfolio? #DropGold — Grayscale (@GrayscaleInvest) May 1, 2019 Branding Bitcoin as the New Digital Gold Grayscale is attempting to paint bitcoin as the…

TechStars-Backed Alkemi Enters DeFi Race With $16 Million Liquidity Pool

A new type of decentralized finance (DeFi) app wants to boost crypto-market liquidity by offering you interest on your coins. Today at the Techstars Blockchain Accelerator demo day, Alkemi CEO Ryan Breen will unveil a crypto liquidity pool deal worth $16 million from industry veterans like Joseph Weinberg, chairman of the data network Shyft, and Alex Friedberg of BXB Capital. Alkemi is looking to create a liquidity system for exchanges by making an accessible honeypot that service providers can dip into when demand increases faster than supply. “It’s solving inter-settlement…

Grayscale to Launch Pro-Bitcoin Ads ‘Drop Gold’ on Social Media, Linear TV

New York-based digital asset manager Grayscale Investments has introduced its pro-bitcoin (BTC) advertising initiative “Drop Gold” in a press release on May 1. The Drop Gold campaign is based on the emergence of bitcoin as an alternative to gold investments. In particular, the advertising campaign is promoting bitcoin investment within Grayscale’s publicly traded Bitcoin Investment Trust (BIT), which started trading under the ticker GBTC back in 2015. Grayscale’s pro-bitcoin advertisement includes a provocative commercial arguing that gold investors are living in the past. The commercial presents gold as an old-fashioned asset…

$300 Bitcoin Premium on Bitfinex as BTC Price Continues to Recover

Forget Korea’s Kimchi Premium, bitcoin is currently trading at a more than $300 of the market average on Bitfinex – the platform recently accused of covering losses of up to $850 million. Meanwhile, Tom Lee of Fundstrat says the lack of significant downtrend in the BTC price action since the Bitfinex news broke out is further proof of BTC’s maturity as an asset. Bitfinex Bitcoin Price at $300 Premium The price of Bitcoin on the Bitifinex exchange platform is currently $300 higher than the average BTC price. Reports indicate that…