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Major Swiss Stock Exchange SIX Lists XRP Exchange Traded Product

Major Swiss Stock Exchange SIX Lists XRP Exchange Traded Product

According to its official website, Switzerland’s principal stock exchange, SIX, has listed a Ripple (XRP)-based Exchange Traded Product (ETP) today, April 2.

As Cointelegraph reported in March, the exchange had already confirmed that it was planning to list the product, dubbed Amun Ripple (AXRP). Hany Rashwan, co-founder and CEO of Amun — the cryptocurrency derivative development company behind AXRP — at the time claimed that this is the first such product on the market:

“We can comfortably say that we expect to release the world’s first XRP ETP within the next two months.”

Furthermore, Rashwan also told media that the company has also received SIX’s approval to launch four more ETPs for other altcoins — Bitcoin Cash (BCH), Litecoin (LTC), Stellar (XLM) and Eos (EOS). In November last year, SIX also listed what was reportedly the world’s first ETP tracking an index of multiple crypto assets, based on Bitcoin (BTC), Ripple, Ethereum (ETH), BCH and LTC.

At the beginning of March, the company also launched an ETH ETP and in February it listed a BTC-tracking ETP.

As Cointeledgraph noted in a dedicated analysis in December, those developments are seemingly part of a broader trend, which sees the United States being left behind where cryptocurrency ETPs are concerned, as compared to Europe.

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Bitcoin Price: Technical Flags Scream ‘Buy!’ as Market Nears Key Level

The Bitcoin price is flashing a major buy signal. | Source: Shutterstock

Bitcoin continues to grind higher, and on Monday the flagship cryptocurrency hit its highest level in 2019. Many investors are stuck in the past looking at the wild volatility brought on by excessive speculation, and ignoring that right here right now, the Bitcoin price is showing maturity and stability – and could be primed for a major boom.

Bloomberg reported that a popular technical indicator is now screaming buy after the last signal it generated prompted a 17% rally.

bitcoin price

LOW BITCOIN VOLATILITY IS GREAT FOR ALTCOINS

If BTC/USD was a traditional currency pair, people would be going wild over how bullish the technical picture looks. We are over the 50-day and 100-day moving averages, with the latter providing buying support.

Another harbinger of bullish momentum is the speculation that is once again stirring in the smaller cryptocurrencies. Dash jumped 31% higher, Monero 10% higher, and an incredible 50% gain in Tezos have all been signs of hot money returning to markets.

And why shouldn’t it? Bitcoin is looking exceptionally stable, and this will be encouraging investors in the more volatile altcoins that they don’t have to worry so much about Bitcoin cratering and its smaller competitors with it.

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Bloomberg Crypto

Bitcoin is 📈 https://bloom.bg/2U6MLCF 

GOOGLE SEARCHES A POSSIBLE CAUSE OF DROPPING VOLATILITY

The more people talk about Bitcoin losing Google search interest, the more we can assume that speculation is also dropping – a concept affirmed by the fact that volatility is at a 30-day low. Calm trading conditions are precisely how things should be, in a happy, healthy cryptocurrency market. Developers have made these coins to be used as an alternative medium of exchange, not just to make people with a passing interest a quick buck. Attention is now growing organically, industry investment is steady, and the maturation process is in full swing.

Just look at the Lyft IPO if you want some short-term evidence of how excessive media coverage generates bubbly speculation.

BITCOIN FUNDAMENTALS AND TECHNICALS ARE STARTING TO ALIGN

Back these fundamentals against the technical picture and the purity of trading Bitcoin is evident. The charts are beautifully representative of what is going on. There has been a lot of good news, and the price is responding accordingly. Some technical confirmation of this would be the cherry on the cake.

Naturally, Bitcoin is still an illiquid asset, so significant dips in price are always possible, but it would appear that we could be on the cusp of a major breakout. There certainly isn’t much in the way on the charts to stop the price climbing back up towards the $5,000 handle.

PRICE STABILITY TRANSLATES INTO RISING INSTITUTIONAL CONFIDENCE

Institutional investors are some of the most risk-averse on the planet. You would be too if you were protecting assets people had worked for 50 years to accumulate in a pension fund. With volatility tracking closely to US indexes like the S&P 500, fears of massive price swings are falling. Because of this, It’s prudent to consider a very boring Bitcoin outlook could precede an equally bullish one.

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Russia’s $18 Billion Man Digs Crypto – Bitcoin, Ethereum, XRP, Litecoin Market Update

The richest man in Russia is going crypto.

Vladimir Potanin, whose net worth is about $18 billion, plans to tokenize the rare metal palladium. As the chairman of the mining company MMC Norilsk Nickel PJSC, Potanin told Bloomberg he’s talking with Swiss authorities to utilize crypto tokens pegged to palladium.

Potanin says he believes digital tokens are the wave of the future, offering many advantages over the current way of doing business.

“People more and more tend to use decentralized networks and platforms that don’t have a main operator. We want to be active participants of this process.”

The tokenization of palladium may be just the beginning. If it works out, the company will consider expanding the concept to other metals in the long run.

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On Opportunity!

When you have a great opportunity , it’s best to go ALL in.

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Coinbase to Give Away Over $100 Million in XLM to Users Who Study Stellar Protocol

Coinbase to Give Away Over $100 Million in XLM to Users Who Study Stellar Protocol

Coinbase to Give Away Over $100 Million in XLM to Users Who Study Stellar Protocol

United States cryptocurrency exchange Coinbase has announced that it is giving away 1 billion Stellar Lumens (XLM) (about $106 million) to users that are willing to study the Stellar protocol. The news was revealed in a Coinbase blog post published on Tuesday, March 26.

The move is part of Coinbase Earn, the exchange’s crypto-focused educational program. The company stated that this particular session of the program is its “biggest yet.” Each eligible U.S. user can gain up to $50 for using the program to study the Stellar protocol.

According to the Coinbase Earn website, the program developed in partnership with Stellar consists of five educational videos of up to three minutes each. After watching the videos and completing a set of corresponding quizzes, users reportedly will earn XLM tokens as a reward.

The company noted that it has already sent the first group of invitations to join the program to its U.S. customers. Users outside the U.S. are invited to sign up for a waitlist.

XLM is currently ranked 8th by market capitalization among the top-100 cryptocurrencies on CoinMarketCap. The coin’s market cap and price have seen a noticeable uprise following Coinbase’s announcement, with 24-hour gains of almost 7 percent. As of press time, XLM is trading at $0.106.

XLM price performance

XLM price performance. Source: CoinMarketCap

Earlier this month, Coinbase added support for XLM on its main retail investor platform. The cryptocurrency was available to the majority of customers, with the exception of Coinbase users in the United Kingdom or in the U.S. state of New York, at the time of writing. Prior to that, the company’s professional trading platform, Coinbase Pro, announced it was accepting XLM deposits.

As Cointelegraph previously reported, a massive XLM airdrop took place in November, 2018. Back then, cryptocurrency wallet provider Blockchain.com launched full support for the token, alongside giving away $125 million worth of XLM to its user base. The company itself marked the initiative as “the largest airdrop in the history of crypto and likely the largest consumer giveaway ever.”

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Switzerland’s Largest Online Retailer Launches Crypto Portal, Accepts Bitcoin, Ethereum, XRP, BNB, Litecoin, Tron

Digitec Galaxus has launched a crypto payment option, allowing customers of online shops digitec.ch and galaxus.ch to pay with Bitcoin, Bitcoin Cash, Bitcoin SV, Ethereum, XRP, Binance Coin, Litecoin, Tron, OmiseGo and NEO.

Known as the “Amazon of Switzerland” Digitec lists over 2.7 million items for daily needs, with fast and free shipping. Customers who pay in crypto will have to make a minimum purchase of 200 francs. There’s no maximum threshold.

The new payment option began as a collaboration between Digitec and Swiss e-payment company Datatrans AG. Crypto payments will be settled by Danish-based fintech company Coinify to convert the transactions into fiat, reducing the company’s exposure to volatile crypto prices.

Customers who want to pay with Bitcoin or any of the supported altcoins select the crypto payment option at checkout before being redirected to Coinify where they can complete the transaction. The exchange rate will be fixed for 15 minutes, and the shopper will have the option of using a wallet address or a QR-code to complete the payment. 

The payment option will compete with PayPal which charges a 2% fee. Coinify charges a conversion fee of 1.5% of the purchase amount, while Digitec Galaxus does not charge any additional fees for cryptocurrency payments.

According to the announcement, Oliver Herren, chief information officer and co-founder of Digitec Galaxus, says cryptocurrencies are likely to become a relevant means of payment in e-commerce, and that the company wants to support developing trends.

“We’ve been wanting to do this for ages, but the effort it would have required has just always been too big. Now we’ve found a simple solution with Datatrans and Coinify.”

However, he’s not fully convinced of the advantages blockchain offers over other database technologies.

“So far, these transactions have proven more expensive and slower than regular payments. Making any improvements is hugely slowed down by the decentralization. That’s because none of the technologies are scalable enough yet. But maybe I just haven’t invested enough time in fully understanding how the blockchain ecosystem works.”

According to Tobias Billeter, head of communications, the company is not yet offering Apple Pay or Samsung Pay but it will closely monitor customer feedback for future inclusion. As for cryptocurrencies, the company says it’s trying to appeal to mobile Millennials and tech heads.

The new crypto payment option is available in Switzerland and may extend to Germany, pending the success of the roll-out.

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Fortune 500 Company Avnet Works With BitBay to Add Bitcoin, Bitcoin Cash Payment Option

Fortune 500 Company Avnet Works With BitBay to Add Bitcoin, Bitcoin Cash Payment Option

Avnet, Inc, one of the world’s largest distributors of electronic components and technology solutions providers, has announced a collaboration with crypto payment processor BitPay to accept cryptocurrency for the company’s services and products. The development was disclosed in an official press release published on March 19.

Avnet, Inc., which has been listed on Fortune 500 for 24 years, had an annual revenue in 2018 of more than $19 billion.

The press release writes that Avnet will accept payment with Bitcoin (BTC) or Bitcoin Cash (BCH), while BitPay will verify the purchased funds and complete the transaction. The company has also announced that it had “closed several multi-million-dollar cryptocurrency transactions within the first month of accepting bitcoin,” specifying that this also includes their work with Bitcoin.com on a new hardware wallet.

The ability for the company to accept crypto will give Avnet customers more options for completing their financial translations, according to the company. The press release states:

“By accepting bitcoin as a payment option, Avnet is continuing to break down the barriers customers face when getting their ideas to market by enabling easier access to its unique end-to-end ecosystem of design, product, marketing and supply chain expertise at every stage of the product lifecycle.”

As Cointelegraph reported on Jan. 30, BitPay has also partnered with the Wikimedia Foundation, the non-profit and charitable organization that operates Wikipedia, to provide the possibility to accept donations in cryptocurrency.

And, earlier today, leading Swiss online retailer Digitec Galaxus announced that it would accept 10 different cryptocurrencies as payment for its products.

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Anthony Pompliano: Next Bitcoin and Crypto Bull Run Will Be ‘Bigger Than Anything We Have Ever Seen Before’

The founder of crypto investment firm Morgan Creek Digital says a coming boom of institutional investments in Bitcoin and crypto bull will trigger a bull run unlike anything the market has ever seen.

In a new post on the movements of incumbent asset managers, Anthony Pompliano outlines why he believes crypto and blockchain investment opportunities will be “one of the fastest growing sectors in the alternative asset management space in the next 10 years.”

According to Pompliano, crypto is poised to become impossible for alternative asset managers to ignore.

“As these firms begin to enter the space, many of them will choose to either (1) spend ungodly amounts of money to hire talented and experienced crypto investors or (2) pay up to acquire asset management firms that specialize in blockchain and crypto. While the strategy is easy to identify, there may be a number of complexities.

These issues will eventually be worked out though, and I anticipate the macro-trend of consolidation in alternative asset management will spill over to include crypto asset managers. This is because every alternative manager will be forced to manage funds in the ‘crypto industry’ in the next decade. Whether it comes under their purview through Bitcoin, the public crypto market, venture capital, or tokenized assets, the writing is on the wall at this point.”

Pompliano says there will be stragglers, and he expects the more opportunistic and open-minded managers to reap the most rewards.

“Some firms will drag their feet and wait to see how the industry plays out. Others will be opportunistic and gain a significant advantage by having a head start. If you thought 2017’s bull market was big, just wait till the trillions of dollars allocated to alternative assets begin to roll in.

The next bull market will be bigger than anything we have ever seen before.”

In February, Morgan Creek Digital announced it has successfully started a new fund that’s raised $40 million from two public pensions, a university endowment, an insurance company, a hospital system and a private foundation.

Morgan Creek Digital’s fund will invest in companies focused on building blockchain solutions and hold a small percentage in cryptocurrencies like Bitcoin.

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Crypto cryptocurrency Bae Yong-joon

Influential South Korean actor Bae Yong-joon is investing in a local crypto startup. | Source: AP

Korea’s Biggest Actor Invests in Crypto and That’s a Big Deal for Asian Markets

Bae Yong-joon, arguably the most influential and widely recognized actor in South Korea featured in films like Winter Sonata and The Legend, invested in a local crypto startup called Seamon.

IMPORTANCE OF A PUBLIC FIGURE INVESTING IN THE CRYPTO SPACE IN SOUTH KOREA

According to Hankyoreh, a mainstream media outlet in South Korea, Seamon is co-founded by the Norway-based Ocean Supreme, the most dominant company in the Japanese Salmon market.

Ocean Supreme exports sashimi-quality Salmon from Norway to Japan, generating $150 million in annual turnover, purely from Salmon sales.

The publication exclusively reported that Bae reached out to the company to participate as an advisor and later asked to invest in the project. The company said it cannot reveal the amount invested by the actor but Bae is said to have invested well over $100,000 in the project.

“Bae has consistently been interested in the seafood industry for a long time. Initially, Bae reached out to Seamon to participate as an advisor but he wanted to invest in the project and last month, we processed the investment. We cannot disclose the exact amount of the investment but it is not in the tens of thousands of dollars range,” Seamon president Lee Jung-hoon said.

In recent years, the blockchain industry has seen an increase in the number of companies attempting to utilize blockchain technology to process seafood exports, imports, and supply chain.

Intel, for instance, the $240 billion technology conglomerate, developed a blockchain network called Sawtooth as a part of the Hyperledger Foundation to support a seafood supply chain on top of the blockchain.

Intel

The report from Intel read:

To merge the digital and physical world, Sawtooth records the journey of seafood from ocean to table. Like the fish in this case study, IoT sensors can be attached to any object entrusted to someone else for transport, with trackable ownership, possession, and telemetry parameters such as location, temperature, humidity, motion, shock and tilt.

Bae is said to have invested in Seamon primarily due to the involvement of a dominant player in the Seafood industry like Ocean Supreme, which actually could provide the platform for startups like Seamon to use the blockchain and cryptocurrencies in settling global seafood sales.

But, the investment of Bae in a cryptocurrency startup in South Korea could establish a precedent for the industry.

Following the 2017 bull market, many retail investors in South Korea were hit hard by the 80 percent drop in the price of Bitcoin.

Millennials to high-school teachers who invested in the cryptocurrency market lost tens of thousands of dollars on average after obtaining bank loans and other leverage to invest in cryptocurrencies.

As such, despite the involvement of the country’s biggest conglomerates including Samsung, Kakao, Shinhan Bank, and many more, a relatively large number of public figures who invested in the cryptocurrency space ended up apologizing to the public.

While crypto remains as a symbol of hope for the majority of investors, the sentiment around cryptocurrencies worsened to a point wherein public figures were pressured to hide their involvement in the cryptocurrency space.

The public investment of Bae suggests that the sentiment around the crypto market of South Korea has noticeably improved in the past 15 months.

CRYPTO MARKET IN SOUTH KOREA IS STRONG

The cryptocurrency sector of South Korea faced a roadblock when Upbit, the country’s biggest cryptocurrency exchange, was investigated by the police for allegations of causing fake volumes.

But, with virtually every conglomerate commited to the cryptocurrency sector, the rate of which the crypto market in South Korea, especially on the institutionalization side, is rising.

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Bancor Launches Wallet for On-Chain Conversions Between ETH and EOS Tokens

Bancor Launches Wallet for On-Chain Conversions Between ETH and EOS Tokens

Decentralized liquidity network Bancor has launched a wallet for on-chain conversions between Ethereum (ETH) and Eos (EOStokens, according to a press release shared with Cointelegraph on March 12.

The new product, Bancor Wallet, is a non-custodial crypto wallet that is designed to enable on-chain crypto conversions between Ethereum and Eos-based tokens “in a single action,” the press release reports.

The new wallet is based on Bancor’s recently launched cross-chain protocol BancorX, which allows users to convert between Ethereum and EOS-based tokens without exchanges.

Nate Hindman, Bancor’s director of communications, told Cointelegraph in a statement that the release of Bancor’s unified wallet is expected to pave the way for the integration of other blockchains, giving Bitcoin (BTC) and Tron (TRON) as examples.

While Hindman did not reveal details about what chains are expected to be integrated next, he emphasized “dev time required to add these chains is now dramatically lower than the time it took us to add EOS.”

According to the press release, Bancor Wallet offers instant and zero-fee transactions between 9,700 token pairs, ensuring that any token in the network can be converted into any other at all times, regardless of available buyers or sellers. Bancor Wallet users will be able to access their decentralized applications (DApps) without leaving the wallet’s interface, the press release notes.

The announcements also outlines that Bancor Wallet’s launch follows recent news that the Bancor protocol will be integrated into Samsung’s new Galaxy S10 smartphone via social gaming platform Enjin.

Back in 2017, Enjin partnered with Bancor to use smart tokens across the Enjin Coin platform and to enable Enjin Coin (ENJ) token’s compatibility with the Bancor protocol and network.

As previously reported, the new Galaxy S10 smartphones will evidently support ENJ, along with Bitcoin (BTC), ETH and Cosmee’s token COSM, according to an official presentation.

Hindman also told Cointelegraph that, following the Samsung news, “network volume in the past week reached an 11-month high of roughly $25M volume, up from $9M the previous week.”

Bancor’s own cryptocurrency, Bancor Network Token (BNT), surged in price this weekend, peaking at $0.76 per coin on March 10, the coin’s highest price point since November 2018, according to data from CoinMarketCap. At press time, BNT is trading at $0.61, up about 3.15 percent on the day.

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