Ethereum 

Bitcoin (BTC) Drops Below $5K Despite US Fed Slashing Interest Rates

The outbreak of the coronavirus has had a significant impact on markets, and cryptocurrencies have not been spared either. Over the weekend, the US Federal Reserve was forced to slash interest rates to almost zero, but that didn’t help Bitcoin (BTC), which dropped below $5,000. Bitcoin (BTC) Drops Below $5,000 The largest crypto by market cap plunged below $5,000 on Tuesday as the European session got underway. After it breached the psychological milestone, it almost came close to dropping past $4,500, having shed 16% in a day. Similarly, other cryptocurrencies…

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Ethereum 

Bitcoin Tanks to $6K Mark on Economic Damage from the Coronavirus

While the stock markets across the world are recording historic declines, the situation is not much different in the crypto world, which would explain why Bitcoin has been dropping as of late. On Thursday, the world’s biggest cryptocurrency by market cap plunged at an alarming rate. Panic Selling The coronavirus pandemic has had a volatile effect on the world economy, and markets across the globe experienced mass selloffs as fears about the damage finally took hold. BTC slumped by 25% on Thursday morning as investors continued to dump it. Although…

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Ethereum 

Ethereum Drops to $200 Levels as Crypto and Global Markets Crash

Ethereum (ETH) price has continued to fall after a dreadful weekend, which saw the price drop to around $198, wiping out last week’s gains. The cryptocurrency is currently trading slightly above the $200 support level and faces a nervy week in which it could drop as low as $170. Ethereum Drops to $200 as Crypto Markets Crash The coin has had a stellar year to date, having started the year at $130. It reached $280 in mid-February, outperforming even Bitcoin (BTC) in its percentage climb. However, there has been a…

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Ethereum 

How Could Bitcoin Halving Could Affect BTC Price in the Near-Term?

Bitcoin (BTC) is trading below the $8,000 level just two months before its anticipated halving in May. However, over the past few weeks, markets have been crashing because of the coronavirus outbreak and investors have been cashing out on their digital assets, including Bitcoin. Will this impact the effect of the halving? Upcoming Halving Might Impact BTC Price Negatively Based on the current market outlook, there is a possibility that the May 2020 halving might have a negative effect on BTC price. In the 2012 and 2016 halving events, BTC…

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Ethereum 

XRP Could Upswing Despite Growing Uncertainties Around the Token

Controversy continues to surround Ripple’s XRP token, and the company’s incentivizing of partners to start using its cross-border payment solution has flooded the crypto’s market supply. However, despite all this uncertainty surrounding XRP, one analyst thinks that the cryptocurrency is bound for a huge upswing. Ripple Paid Moneygram to Use Its Cross-Border Remittance Service Over the past week, Ripple has made headlines regarding a number of events directly linked to its native token, XRP. For instance, on February 26, Moneygram reported that payments from Ripple in the last two quarters…

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Ethereum 

MoneyGram Receives $11 Million Cash Injection from Ripple

MoneyGram (NASDAQ:MGI) has received over US$11 million in the last six months from Ripple in what was described as “Ripple market development fees.” A partnership between the money remittance company and the crypto services firm was first announced back in June when Ripple agreed to provide MoneyGram with US$50 million in order to support its payments product, On-Demand Liquidity, or xRapid, as it is sometimes referred to as. The US$11.3 million sent MoneyGram’s way over the last months is broken up into two quarters, US$2.4 million in Q3 and an…

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Ethereum 

Bitcoin Recovers as Coronavirus Pandemic Continues to Hurt Markets

On March 3, Bitcoin (BTC) price gained the most on speculation that the US Federal Reserve, as well as other central banks, will be supporting markets even as concerns of the coronavirus outbreak continue to grow. Bitcoin Jumps Over 4% After Last Week’s Plunge Bitcoin gained 4% to take its price to $8,895, having suffered a double-price decline last week. This is welcome news for Bitcoin bulls, following last week’s 14% drop, which was BTC’s largest weekly loss since November.  In the third week of November, Bitcoin dropped around 19%.…

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Ethereum 

Bitfinex and OKEx Hit by DDoS Attacks

Crypto exchanges have made it easier for millions of people to trade in cryptos, but they have also been found to be vulnerable to attacks, and today, two crypto exchanges, Bitfinex and OKEx, reported Distributed Denial-of-Service (DDoS) attacks. OKEx stated that the exchange suffered the attack last night, but none of its users were actually affected by it. Bitfinex appears to have been the subject of a similar attack today, and the extent of the attack is not yet known. The company took to Twitter and stated that the matter…

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Ethereum 

Whale Transfers 31.30 Million Ripple (XRP) to Bitstamp

Over the past year or so, the fintech firm Ripple has come under fire from the XRP community for selling large amounts of the cryptocurrency token. The company holds the highest number of XRP tokens, meaning significant sales at regular intervals have affected the price of the cryptocurrency considerably. In a new development, it has emerged that more than 31 million XRP tokens were sent from an unknown wallet to the Bitsamp exchange. The transaction was announced by a reliable Twitter account named Whale Alert, which tracks big transactions in…

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Ethereum 

How Could a Potential Ripple IPO Affect XRP’s Price This Year?

Over the past year or so, XRP is probably one of the few major cryptocurrencies that have not enjoyed any meaningful gains, and much of the blame has been laid at the door of the fintech firm Ripple. The San Francisco-based company owns the highest number of XRP tokens. Uncertainty in the Crypto Market Currently, the uncertainty in the crypto market has beaten down the XRP price further. However, it is the possibility of an initial public offering from Ripple that has given rise to a fresh debate among analysts.…

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