XRP on Shaky Ground After Dropping 6 Points in Latest Correction

Key Takeaways XRP went down to retest the hypothenuse of an ascending triangle where it has been contained since mid-September. If this critical support barrier fails to hold, the cross-border remittances token may drop to $0.22. Nonetheless, whales have been loading up as prices decline, suggesting that all is not yet lost Share this article XRP dropped 6% over the past few hours that saw the remittance token retest a critical support level. Now, bulls must step in to avoid further losses. Sitting at a Make-or-Break Point Following September’s market…

Massive Supply Barrier Is Keeping Cardano Prices From Breaking Out

Key Takeaways The TD setup presented a sell signal on ADA’s 3-day chart, suggesting that there is more room to go down. If the 50-twelve-hour moving average fails to hold, Cardano could drop to $0.09. On the flip side, turning the $0.11 resistance into support may invalidate the bearish outlook. Share this article Greed among crypto investors has triggered a market-wide correction, liquidating more than 34,000 traders in the past 24 hours. And unfortunately for ADA holders, Cardano looks no different. Cardano Prepares for Another Leg Down Many cryptocurrencies, including…

Traditional Finance Is Watching The Rise of DeFi Closely, Crypto.com and BCG Study Finds

Key Takeaways In a survey led by BCG and Crypto.com, a vast majority of financial institutions are exploring DeFi. Many of these firms command multi-billion dollar balance sheets and could shift the needle upon entering the space. Security concerns and regulatory uncertainty are the two largest barriers. Share this article Leading tokens from this summer’s DeFi craze may be crashing, but the sector is far from over. And with interest from multi-billion dollar institutions, many believe that true innovation has only just begun.  Traditional Finance Wants a Piece of the…

Alibaba’s Jack Ma praises the disruptive nature of digital currencies

Jack Ma, the now-retired founder of Alibaba Group, recently spoke to a crowd of bankers and regulators at the Bund Summit in Shanghai about the role digital currencies will likely play in the future global financial system: “Digital currency could create value and we should think about how to establish a new type of financial system through digital currency.” He opined that the current financial system governed by Basel Accords is too conservative and does not fit China’s growing economy: “After the Asian financial crisis, the risk control highlighted in the…

British fintech firm opening physical crypto bank branches in India

According to an Oct. 26 announcement from Cashaa, the fintech firm will be partnering with India’s United Multistate Credit Cooperative Society to build a crypto-friendly financial institution called UNICAS. This new venture will reportedly include 34 “physical branches and operations” in northern India, including the cities of Delhi and Gujarat, and the state of Rajasthan. However, the fintech firm stated that it planned to expand to 100 physical branches “where users can access crypto products” by next year. Earlier this month, Cashaa India stated that it would allow Indian businesses…

Chainlink Rejected At Key Mathematical Level, But Geometry Points To Upside

Chainlink is the best performing crypto asset of the top ten cryptocurrencies by market cap in 2020, and the years prior since it first came into existence. And although the peak in 2020 could very well be in for now, and a massive rejection just occurred at a pivotal mathematical level, a bullish chart pattern forming would have a target of roughly $32 per LINK if it breaks to the upside. LINKUSD Rejected At 0.618 Fibonacci Retracement Level, Triangle Forms After Chainlink charged headfirst into $20, the asset’s current peak,…

Anheuser-Busch considers integrating blockchain further into its beer production line

Anheuser-Busch InBev, the parent entity of Budweiser, Corona and many other beer brands, recently began to pilot a platform which lets end-customers track their malt beverages on the blockchain. This is not the first instance of the company’s blockchain interest. They have previously unveiled a number of blockchain initiatives, including a vending machine ID verification system and document management protocols based on the technology.  “For the first time in our European operations, this project will create a fully transparent, indirect supply network all the way to the end consumer,” Pieter Bruyland, CIO…

The number of Bitcoin whales hit an all-time high during the latest bull run

The number of Bitcoin (BTC) whales reached a new all-time high amid last week’s price ascension. On October 20, there were 2,178 Bitcoin addresses that held at least 1,000 BTC. By October 25, this number increased to 2,231. At current prices, 1,000 BTC translates to approximately $13 million. Source: Glassnode. Based on this data, we can surmise that the whales control at least 2.23 million Bitcoin — a significant figure equivalent to 12% of the current supply. Source: BitcoinCharts. According to data from BitcoinCharts, these whale addresses actually control a much…

McAfee continues to promote cryptocurrencies from his Spanish jail cell

John McAfee, an eccentric millionaire, crypto enthusiast, and anti-virus expert, was recently detained in Spain on charges of U.S. tax evasion. He also faces charges arising from a series of questionable crypto promotions, from which he allegedly profited millions of dollars. Though he is currently in a Spanish prison, it did not stop him from sharing a few of his thoughts on recent developments in the crypto industry.  With regard to PayPal’s recent announcement, McAfee said “PayPal’s acceptance of cryptocurrency signals, I believe, a new wave of cryptocurrency acceptance worldwide. Governments around the world…