Latest Market News
XRP saw an enormous 18% price surge over the past 24 hours of trading as it managed to break past $0.7 today. The cryptocurrency is in the process of recovering from the hit it took in December when the SEC filed a lawsuit against the company for conducting an unlicensed securities offering. As a result, XRP crashed by over 70% after the announcement.
As we move into Q2, a number of cryptocurrency projects are moving ahead with continued development, and this week’s choices are set to benefit from significant updates and announcements that should strengthen their market positions and benefit their communities. The news should also result in increased amounts of attention to each respective currency over the coming weeks.
For the first time, disaffected investors have an alternative to issues pervading the traditional financial system with applications that operate on permissionless blockchains. It’s called decentralized finance, or DeFi, as the crypto-savvy corners of the Internet have dubbed it.
The first quarter of 2021 was a wild ride for the cryptocurrency market, and it was an overwhelmingly positive period for the sector as a whole. The total cryptocurrency market capitalization increased from $777.6 billion to $1.87 trillion, an increase of almost 140%. Bitcoin posted its 5th consecutive positive quarter, and its strong performance also had a massive impact on the altcoin markets. For Bitcoin, the continued presence of corporate and institutional investors played a big role in sustaining the rally and powering BTC to new all-time highs.
Enjin, one of the leading projects involved with NFT (non-fungible token) technology, has announced a new blockchain platform that’s designed specifically for NFT users. Called Efinity, the new platform will be a parachain on Polkadot. Efinity will take advantage of the interoperability offered by Polkadot to make it possible for NFTs from other blockchains to be moved to the platform.
TRON has teamed up with DuckDAO to introduce support for the TRON blockchain to the DuckDAO incubator.
The price of Bitcoin saw a strong 9% price hike this week as the cryptocurrency breaks above $59,500 and starts to make its way back toward $60,000. The cryptocurrency had reached a new ATH toward the middle of March as it reached the $61,788 level. It struggled to overcome resistance at $61,192 (1.618 Fib Extension) and rolled over from there.
On Monday, we released our list of the top coins to watch for this week, which included Trust Swap (SWAP), UniLend Finance (UFT), and Horizen (ZEN). In this analysis, we will be covering these three coins to identify some of the key support and resistance levels to watch out for.
Cryptocurrency exchange FTX has reached a deal with the Miami-Dade county to have the home arena of the Miami Heat NBA team renamed to FTX Arena. The 19-year deal is worth $135 million.
As we move towards the end of Q1, a number of cryptocurrency projects are moving ahead with continued development, and this week’s choices are set to benefit from significant updates and announcements that should strengthen their market positions and benefit their communities. The news should also result in increased amounts of attention to each respective currency over the coming weeks.
