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Altcoin News

Bitcoin Cash, IOTA, TRON And Bitcoin SV Are This Week’s Top Crypto Performers

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In the latest digital currency news, we are focusing on the altcoin movements – particularly the best performing altcoins over the past week and their considerable rises. While the equity markets is suffering from the worst week in the past 10 years, the crypto market has bounced sharply from its lows and showed the first signs of a recovery.

Bitcoin Cash (BCH)

BCH/USD saw massive buying over the past week in a surge that helped the altcoin regain the fourth spot in terms of market capitalization. Today, the price of Bitcoin Cash crossed the $200 mark and is trading at $202 with a $666 million market cap.

IOTA (MIOTA)

The IOTa foundation and Audi have recently presented their collaboration to a select audience where the focus was finding solution for real world problems in the area of mobility, IoT and the automotive industry. This made the price of IOTa to rise this Monday and is now trading at $0.377 with a market cap of $19 million, safe at the 12th place.

TRON (TRX)

Since the number of TRON mainnet accounts surpassed 900,000, the technology behind TRON achieved a significant milestone and the price showed instant positive results. Tron (TRX) is now holding the 10th spot with a price of $0.22 and a market cap that is only $2 million short of the 9th-placed Bitcoin SV (BSV).

Bitcoin SV (BSV)

At one point, Bitcoin SV and Bitcoin Cash were trading with an only $10 difference in their price. However, the recovery saw Bitcoin Cash above the $200 mark and Bitcoin SV close to the $110 mark with a market cap of $192 million.

 

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Altcoin News

Tech Giant Kakao May Introduce Millions Of People To Crypto

One of the largest social media and technology heavyweight company named Kakao and based in South Korea - is in today's crypto news for joining the fray and taking a place in one of the most forward-thinking companies that are embroiled in crypto. According to the recent push for the adoption of this innovation, Kakao seems interested in the world of Bitcoin and altcoin cryptocurrencies. It has a user base that counts millions of people - in fact 44 million - which could soon become crypto users thanks to a new report and crypto wallet feature. Even though this is not yet confirmed, a media outlet named Financial News (FnNews) recently  reported that Kakao's 44 million user base that are using the popular messaging platform KakaoTalk - will soon be exposed to digital assets such as Bitcoin. Following these news, many industry insiders commented that the Jeju-based company will use a "crypto wallet" and give millions of South Koreans the ability to interact and indulge in a variety of blockchain ecosystems. The report also says that using the application will be easy - or as easy as sending a message. In that manner, users could send or request for cryptocurrencies in a few clicks, reducing the barrier to entry completely. What's interesting is that executives from Kakao are neither denying nor confirming these rumors. One unnamed representative, however, did note that the company is looking into blockchain technologies. From this, it is logical to assume that Kakao at least has some form of a crypto storage prototype technology. And while Kakao is mysterious when it comes to the new things happening at the company, another South Korean technology giant named Samsung - recently revealed the "Blockchain Keystore" feature that is built into its Samsung S10 smartphone lineup which launched last month in order to widespread the hype. According to users, this can store Bitcoin but also work like an Ethereum-centric dApp browser. Per analysts, Kakao should definitely mimic Samsung's move and create something valuable in the crypto world, going in line with the trend and giving its user base something more innovative and more usable to implement. Let's just hope we see an official announcement soon!
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Altcoin News

Cryptopia Exchange Resumes Its Trading On 40 Crypto Pairs

The New Zealand-based cryptocurrency exchange Cryptopia is in the digital currency news today for resuming its trading operations on 40 trade pairs including Bitcoin. The news emerged from a tweet in which the firm confirmed the resuming process on March 18th. In the tweet, the company announced that it has "“resumed trading on 40 trade pairs that were quantified as secure" and said that the exchange "will continue to expand this list as we clear more coins.” https://twitter.com/Cryptopia_NZ/status/1107811759941779456 This update follows the exchange and its recent announcement of the plans to reopen its trading on the platform by the end of March, after the $16 million hack that occurred in mid-January this year. In January, Cryptopia suspended its services after detecting a major hack that apparently "resulted in significant losses." The platform then informed the public that it was undergoing unscheduled maintenance and issued several updates before it disclosed the breach. After the initial reports of the hack, more evidence surfaced showing that hackers were siphoning crypto out of the exchange as late as two weeks later. As previously reported, the co-founder of Cryptopia Rob (Hex) Dawson said that the company re-launched its website in read-only form on March 5th however the platform showed the balances as they were at January 14th which is the date of the hack. To explain things, the exchange said that the website could be used to reset passwords and two-factor credentials right now - which is also important in terms of client support in this current stage. Hex also said that the users who lost their crypto holdings would see a section that is named "Withdraws on your account for those coins," further explaining that transaction IDs (TXIDs) for the withdraw orders won't exist on the network but may include details on how the coin have been impacted during the event. There are mixed feelings about this grand Cryptopia reopening on the market. While some are encouraging the exchange to get back in its full operations, others are accusing it of trading manipulation. https://twitter.com/mendax20801467/status/1107813280691576832 https://twitter.com/dilifatur/status/1107823819018780672 It is unclear how Cryptopia will these with these comments - but then again - we are ready to see how everything will play out.
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Altcoin News

XLM Jumps By 11% After Banks Got Interested In IBM’s Stellar Blockchain Opportunity

The cryptocurrency backed by Stellar Lumens decentralized payment protocol- XLM, increased in value by as much as 11 percent over the past 24 hours so in the latest altcoin news we will find out what’s the reason behind the price boost. The price increase started when the early EU trading session started as well when the altcoin reached 0.118 from its previous 0.108 positions. The upward trend experienced a small correction phase which brought up the coin to reach a price of $0.113. XLM tried the same level again and formed an upside rejection trajectory during today’s EU session but still managed to maintain the bullish run over the past two days. After IBM announced yesterday that six major international banks want to use the Stellar-based payment network, the price also started slightly to increase. Stellar’s blockchain aims to provide the banks with an easier option to move value or to make cross-border payments much cheaper than traditional payment networks by using stablecoins. This could be the explanation for XLM’s performance because it is similar to the price movements that the coin made under similar circumstances. For example, XLM increased by 11 percent over a period of three days after the German media company Börsenmedien AG announced a partnership with SatoshiPay which is a company that also uses the Stellar blockchain. The other reason for the price increase might be coming from Coinbase. The crypto exchange announced that the platform will provide support for XLM trading pairs. Adding a coin to the platform is known to influence the price of a cryptocurrency just as when listing XRP sparked a price movement for the altcoin as well. XLM could be getting into a strong bullish movement but there is no clear enough proof that the six international banks using the XLM software is the reason for the price increase. The altcoin is still considered as a backup option for the banks. The price trends seem to be forming an increasing wedge formation which shows the entering in the bearish zone but the price could soon break below the wedge point and will open a short position towards $0.107.
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Altcoin News

Digitec Galaxus Group From Switzerland Officially Accepts Crypto Payments

The number one online retail store based in Switzerland, The Digitec Galaxus Group made an official announcement today that we are reading more about in our cryptocurrency news, that the platform will start accepting crypto payments. Bitcoin will be one of the options but so will a couple of other cryptocurrencies including Bitcoin cash, Litecoin, and Ether. All of the customers can read the announcement and read more information about the decision. All of the payments that will be exceeding 200 francs will be processed through a third-party service-Coinfy which is a Denmark-based startup. The Denmark service will convert the crypto payments to fiat in real-time so this way the customers will be protected from the crypto’s volatility. The retail giant will not hold their own cryptocurrency but will make possible for customers to spend them with ease. The chief innovation officer at the Digitec Galaxus Group stated:
 “By using Coinify, we are not running into the knife.  It is still not clear to me how blockchain is any better than other database technologies. The transactions are so far more expensive and slower than a normal payment method. Decentralization brings only cumbersome improvements. None of the blockchains scale enough. But maybe I have not invested enough time and therefore understand too little how the blockchain ecosystem works.”
Herren said that the decision comes after the prolonged bearish correction on the market where most of the crypto assets lost nearly a third of their value. Despite the fact that investors didn’t really get scared of the decline in prices, institutional adoption is still uncertain regarding making more profits. For example, back in 2018 in June, the Expedia hotel booking platform deleted Bitcoin out of their options and in the same year couple of months back, Reddit also stopped accepting cryptocurrency for its gold membership plans.  Years back, Bitcoin became popular because of its attractiveness as a cheaper alternative for expensive payment processors. But as the technology got more popular, the network was unable to handle a higher number of transactions such as Visa or MasterCard and that’s why retailers didn’t choose crypto for making transactions. The Swiss retail giant brings bitcoin back into the retail game. However, traders who are into crypto or those who just hold on to it for better days can now use their coins to purchase something from the retail platform.
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