Binance Analysis Points to Bitcoin (BTC) and Crypto Reversal – Plus Ripple and XRP, Tron, Ethereum, Litecoin, Bitcoin Cash, Stellar
From a potential Bitcoin reversal to the expansion of Ethereum, XRP, Litecoin and Bitcoin Cash in Japan, here’s a look at some of the stories breaking in the world of crypto.
The institutional-grade research arm of leading crypto exchange Binance has released a report on the current state of Bitcoin and crypto.
According to Binance Research, analysis of the correlation between the price of BTC and altcoins indicates the crypto market has already bottomed out. The report cites a high correlation between the price movements of Bitcoin and altcoins that lasted 90 days, ending on March 14th, as an indication that a market reversal is on the horizon.
“Within this period, the composite altcoin correlation with Bitcoin also hit an all-time high (13 Mar 2018). That coincided with Bitcoin’s fall from the $6,000 range to the $3,000 range.
This high correlation suggests that market sentiment has already found a local maximum during that period, and a trend reversal may possibly ensue.”
The report also states that it’s still early days for institutional participants in the crypto market, finding about 7% of cryptocurrencies are held by institutional investors.
Ethereum, XRP, Litecoin, Bitcoin Cash
A new, fully regulated crypto exchange is set to launch in Japan on Tuesday. Japan’s Financial Services Agency (FSA) approved DeCurret last month, allowing the exchange to list Ethereum, XRP, Litecoin, and Bitcoin Cash, in addition to Bitcoin.
All coins are set to debut on launch day, with the exception of Ethereum, which is scheduled to go live this summer.
— ディーカレット (@DeCurret) April 10, 2019
The popular London-based crypto-to-fiat exchange Skrill just added Stellar Lumens (XLM) to its list of cryptocurrencies available for buying and selling. The exchange supports a long list of fiat currencies, including GBP, USD, EUR, AUD, CAD, and JPY.
— Skrill (@skrill) April 5, 2019
Ripple CTO David Schwartz just dropped a new video on YouTube. Schwartz explains why he missed the Interledger Protocol (ILP) Summit, and relays a speech on what makes a team effective, which he delivered at Ripple’s 2019 Q1 meeting.
Tron (TRX) has officially launched on crypto platform Bitnovo in France. The platform gives people a way to buy 22 cryptocurrencies, including BTC, ETH, DASH and LTC, through gift cards that are redeemable at more than 3,000 stores.
Once the card has been purchased, the cryptocurrency can be redeemed instantly online by entering a pin number along with the TRX address where you would like the crypto to be sent.
— TRON Foundation (@Tronfoundation) April 10, 2019