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Altcoin News

Bitcoin Stays In The $3,600 Range While Other Currencies Roll Back

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Bitcoin is somehow managing to say in the $3,600 price range third day in a row as of today but other cryptocurrencies are mostly in the red, making a step back after the short recovery that we previously reported in our altcoin news.

The number one cryptocurrency has been trading sideways over the past 24 hours but is still able to remain at its threshold of $3,600. BTC managed to gain more than $200 in value just two days ago and reached a price point of $3,691. Also, the past week, BTC transaction volume reached the levels to where it was last January.

Ripple (XRP) which is currently the second largest cryptocurrency in the world, has seen a 3 percent decrease and is now trading at $0.3. The market cap of XRP also shrunk over the past day and now has a total value of $12.5 billion. However, it still managed to pass Ethereum which has also lost more than 2 percent throughout the day yesterday and its market cap reached around $12.3 billion.

The total market cap of all cryptocurrencies has gone down to $120.1 billion and the trading volume for the past day is around $18 billion.

As previously reported Binance Coin is one of the biggest gainers among the top 20 cryptocurrencies and is not the tenth largest coin by market cap. The coin has been growing non-stop since February 6.

Bitcoin Cash and TRON lost the most, dropping by 4 percent yesterday.

Overall, there are some interesting movements happening on the market some of which the much-anticipated announcement of the launch of digital assets platform Bakkt.

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Altcoin News

The Great Altcoin Boom May Be Around The Corner

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The great altcoin boom is a phrase that is used to describe the rise of the altcoins which could be very possible in the coming weeks, according to analysts and many best cryptocurrency news sites. Despite this altcoin craze, the valuation of the crypto market recently fell from $181 billion to $176 billion and lost more than $5 billion on a single day. Analysts are now predicting that while Bitcoin is slowly retracing from $5,600 to $5,400 - the altcoin season may has its 5 minutes now. This altcoin boom, as the coming altcoin news show, could be led by any virtual coin but is expected to be initiated from cryptocurrencies such as Ethereum (ETH), Ripple (XRP) and EOS (EOS) which are now recording losses in the range of 2 to 6 percent and demonstrating a red scenario. If Bitcoin continues to surpass the key resistance levels above $6,000 by next month and stabilizes at a high level, traders expect to see the great altcoin boom and the profitable "altcoin season" to emerge. Normally, the crypto market sees some altcoin action when Bitcoin starts engaging in sideways price action or is stable in a tight price range. Even though this does not mean that new capital is injected into the altcoin market, it suggests that some existing investors in the crypto market are getting more comfortable making riskier bets - thereby initiating the great altcoin boom. https://twitter.com/SatoshiFlipper/status/1120529569059151873 Some traders still see risk and could not predict the start of the great altcoin boom. According to "The Crypto Dog" who shared his opinion on Twitter:
“Rug pull senses tingling. I managed to make it here up in $BTC, up in $USD. Going to keep it that way – tethering ~75% of my $crypto holdings. Playing with the rest. Maybe I get left behind, but I don’t think so.”
Despite Bitcoin's increased dominance which now sits at its all-time high of 54.2%, the technical perspectives show that the great altcoin boom on the market is likely to produce a boost - and that the future altcoin news may show us a lot of new capital and confidence from investors. However, this altcoin boom is only possible if Bitcoin sees a strong upside movement and stabilizes above the crucial resistance levels. Currently, the daily spot volume of BTC is at around $580 billion which is still a big up since the first week of March - and a good sign that the great altcoin boom may be around the corner.
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Samsung Invests In Ledger: $2.9 Million Confirmed

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The major hardware cryptocurrency wallet manufacturer Ledger is in the focus of the latest cryptocurrency news for receiving a $2.9 million investment from the electronics giant Samsung, according to official news coming from a company spokesperson. The news that Samsung invests in Ledger went viral on many cryptocurrency sites even though no further details beyond the initial investment amount were provided. To be precise, the investment that Ledger has secured from Samsung was 2.6 million Euros ($2.9 million) - something that follows the appointment of Pascal Gauthier which is the firm's former president as its new CEO. Right now, the former CEO Eric Larcheveque will be redirected to the Executive Chairman of the Ledger's Board position. As Larcheveque said in a letter (before the news that Samsung invests in Ledger):

“In this role I will be able to properly focus on strategy and vision, while also overseeing regulator and government outreach, partnerships, customers, broader business relationships and technology thought leadership.”

What's interesting is that today, an anonymous source told the cryptocurrency industry news outlet CoinDesk Korea that Samsung may also end up developing a public-private blockchain along with its own cryptocurrency token. This project, in addition to the news that Samsung invests in Ledger, will be a major undertaking by the company's blockchain division. In the long run, however, it may help Samsung along with a new asset that is now dubbed Samsung Coin.

The website also quoted the source saying “we expect Samsung Coin to come out in the market, but the direction has not yet been decided," and quickly entering the altcoin news section with this viral news.

As other sources reported on April 22, Samsung has apparently delayed the launch of its $2,000 folding phone dubbed Galaxy Fold due to series of breakage issues as reported on the best cryptocurrency news sites. Even though fans were expecting another phone packing a crypto wallet, several reviewers have reported the inside of the screen flickering, freezing and dying on the test phones in the very first days.

Now that Samsung invests in Ledger, the company's focus could shift and we could definitely see an electronics giant in the crypto news sections in the near future.

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Altcoin News

Binance Singapore Launches With Just One Crypto Trading Pair

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The Binance Singapore launch was long expected by many, mostly because of Binance's vast presence and popularity around the world. In the latest cryptocurrency news, we are citing a report from TechCrunch which shows that Binance officially launched its Singapore branch - but only with some limited features. In more detail, users of the Binance Singapore platform will only be able to purchase Bitcoin (BTC) using Singapore dollars (SGD) which means that there will be far fewer trading pairs available for consumers compared with the company's main exchange. According to the official website, the service is being offered in a close partnership with Xfers which is a local payment service that offers crypto wallet features that are apparently approved by Singaporean regulators. Every user who wants to use this service would need to create an account with Binance Singapore, link their Xfers account and start buying and selling Bitcoin as they wish. The report also features one spokesperson behind Binance's Singapore branch, stating the following:
“Binance is excited to bring world-class blockchain technology to Singapore and we look forward to showcasing Binance’s tier one safety and security measures to the world. BTC/SGD is the initial pair Binance Singapore is offering with the soft launch and there may be more pairs added as regulations allow.”
As many best cryptocurrency news sites reported earlier in April, the CEO of Binance Changpeng Zhao (known as CZ) said that Binance was planning to open its Singapore branch at some point this month. However, further details about Binance Singapore were not known at the time. Last September, CZ revealed that the beta testing for this service was about to begin. Meanwhile, the coming altcoin news show that Binance is also getting a lot of investments. One of them was made by Vertex Ventures, which is a subsidiary of Temasek Holdings - and the recent investment company that decided to invest in Binance and fuel its expansion to the country. Right now, Binance is the second largest crypto exchange by trading volume according to data from CoinMarketCap. However, the Singapore branch will definitely help and get the exchange closer to the first spot.
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Altcoin News

Euro Poll: Cryptocurrencies Will Still Be Around In Ten Years Time

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Euro poll conducted by bitFlyer Europe shows that most of the Europeans believe that cryptocurrencies are here to stay. However, the data that reached our latest cryptocurrency news shows that about 55 percent believe that Bitcoin will be overtaken by other cryptocurrencies. The Euro poll surveyed about 10,000 individuals in ten European countries and it showed that only 55 percent of the participants believe that bitcoin will still be around. Most of them are less confident about bitcoin and believe that other cryptocurrencies will have a brighter future. It seems that the sharp bear market has destroyed the consumer’s confidence in digital assets. During the crypto winter, the market shed off about $700 billion in market cap. This is one of the reasons why the Euro poll participants remain skeptic about the success of cryptocurrencies. For example, people living in Norway were most optimistic according to the Euro poll data where nearly 73 percent of the participants expressed their confidence that cryptocurrencies will still exist in the next ten years. Eve France, as the least optimistic crypto nation, reported that the majority of the people believe that crypto will be here. When announcing the Euro Poll results, the bitFlyer COO stated:
 “These results indicate that the reputation of cryptocurrency has moved beyond hype and become more established. It’s very easy to forget just how new cryptocurrencies still are; we’ve only just celebrated bitcoin’s 10th birthday, so for the majority of consumers to believe in crypto’s future is without a doubt an achievement.”
The most surprising outcome of the Euro Poll survey is that consumers are losing their confidence in Bitcoin. About 50 percent of the respondents believe that Bitcoin will still exist in the next ten years but about 63 percent don’t share the same opinion. This could be a result of the negative press including the reports on exchange hacks and investment losses. Of course, the number one cryptocurrency is always to one to be hit the hardest. The Euro Poll confirms that cryptocurrencies are here to stay in the next ten years. One crypto hedge fund founder wants to bet his house on it. Also, as previously reported in our altcoin news, Anthony Pompliano is willing to stake $1 million bet that crypto will outperform the S&P 500.
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