The latest cryptocurrency news show that Bitcoin gains momentum as we speak, after surging by more than 5% overnight and reaching the $5,600 mark. With this, the most dominant cryptocurrency has also managed to set a new 2019 high. The resistance was later broken and BTC is now trading at $5,572 but still looks stable as the market sees green.
The key resistance was broken and Bitcoin initially surged to $5,640 according to the TradingView website. In typical fashion, this has happened during the Asian trading session, allowing Bitcoin to sure by almost 7% and put its next stop at $6,000 if the momentum continues in Europe and the US today.
As the week progresses, it is easy to see that Bitcoin gains momentum but altcoins are following too. In fact, BTC is pulling all of the coins up and breaking through the resistance to form a new 2019 high. The market capitalization is now ramping up to $180 billion again.
Meanwhile, Ethereum (ETH) has been slower to react which is why it moved only a couple of percent and went below the $175 mark again. The news that Bitcoin gains momentum affected many altcoins which is best seen now, as the day progresses.
Speaking of, the altcoin news show that many top coins are all green again as Bitcoin is dominant and leads them higher. Perhaps the most dominating altcoin right now is Cardano (ADA) which has pumped 9% overnight to $0.080. Bitcoin Cash (BCH), on the other hand, is back at $300.
The top twenty also sees Tezos climbing the most at 8% to $1.43 in a historic surge as reported by many best cryptocurrency news sites. Right now, it is certain that there is a huge FOMO and a large daily trading volume across exchanges – mainly triggered by the news that Bitcoin gains momentum as we speak.
The total crypto market capitalization is also very likely to establish new 2019 highs later today. Right now, it sits at $185 billion because of the positive altcoin movement and the $7 billion cash injection, increasing by more than 5% compared to the same level yesterday. The total volume is approaching $50 billion as more gains across the board are very likely to follow today.
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“Now Abra users in the Philippines can quickly and easily add pesos into Abra and use that to invest in cryptocurrencies or popular stocks like Google, Amazon, Facebook, etc., which opens up a world of new possibilities to build wealth.”The investment app Abra was in the news back in February as well. Then, it said that it was launching a new service which allowed customers to invest in fractions of stocks of NASDAQ-listed firms. The app also supports 30+ cryptocurrencies and 50+ fiat currencies. According to the general manager at ECPay, this partnership “widens the product and service offerings of ECPay to its Collection Partners like 7-Eleven, NCCC Department Stores and Supermarkets, LCC Malls and other Remittance, Pawnshop partners." For those of you who don't know or are not following our altcoin news, the Philippines adheres to the Cagayan Economic Zone Authority (CEZA) which unveils a comprehensive set of new rules that govern cryptocurrencies. All of this was made in a bid to effectively regulate and protect investors. Under the rules, all Digital Asset Token Offering (DATO) regulations must have proper offering documents with pertinent details on the issuer, project and accompanying advice and certification of experts and DA Agents.
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“We believe DLT holds promise for a variety of use cases, and we’re energized to take this significant step in applying the technology to banking in a material and scalable way. Wells Fargo Digital Cash has the potential to enable Wells Fargo to remove barriers to real-time financial interactions across multiple accounts in multiple marketplaces around the world.”Wells Fargo tokenizes by using the possibility of transitioning to a new internal database. One of the former senior blockchain and crypto strategists at EY previously commented:
“I’m genuinely curious as to the definitional difference, and then the supposed improvements. How many people can explain how this solution is technically different than what banks have always done? […] They’ve just changed their database.”This is not the first rodeo for the ecosystem and this year since many stakeholders in the space including the non-profit groups explained the characteristics of JPMorgan’s JPM Coin which was a project permissioned and closed-source. JPMorgan is also looking as Wells Fargo to innovate in the blockchain arena as reported in the altcoin news previously. The central banks are getting in on the action as well since the Bank of Russia is also working on a blockchain-powered digital currency while the People’s Bank of China aims to launch its own cryptocurrency as well.
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“Breanne Madigan drops some crumbs at minute 9:37; it seems like Coinbase is an xRapid exchange and it’s currently originating MoneyGram flows into Mexico.”Getting a good dose of FOMO today is Stellar Lumens which has moved in tandem with XRP. The payments token has been fiat for most of the year but increased today with a 14 percent movement to reach $0.066. ETH is building on the weekly momentum as it pushes above the $200 barrier to top out at $215 just a few hours ago. Ethereum has made more than 18 percent since the weekend and it is currently trading at around $212. There is a lot of fundamental factors for the second-largest crypto-asset which has been very weak for a while now. The next major resistance target for Ethereum is $230 and it seems like the cryptocurrency will get that level as per the altcoin news reports.
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