Cryptocurrency Market: Bitcoin, BCH, LTC, TRX, XLM Price Analysis

SUMMARY: Along with the price of bitcoin, other top cryptocurrencies also surged yesterday with Ethereum, Litecoin, Ripple. Bitcoin Cash, TRON and …

ErisX to launch Spot Market Exchange:

The US-based cryptocurrency exchange ErisX has officially announced the public launch of its spot market exchange with USD markets for Bitcoin, Ethereum, Bitcoin Cash and Litecoin. The ErisX spot exchange is just the first part of a platform that will make available both spot price cryptocurrency trading and a regulated futures exchange.

ErisX is one of the main players which right now is trying to get the CFTC to approve its bitcoin futures contracts. ErisX, like the other major players, have been sitting around waiting for a very long time for approval of its bitcoin futures products. It will also be launching a cryptocurrency clearinghouse.

Also worth remembering is that ErisX is backed by Nasdaq Ventures & Fidelity and is gearing up to be a very big cryptocurrency player.

CoinMarketCap to Make Crypto Market Price Data More Transparent:

CoinMarketCap has announced that it will be working with the major cryptocurrency exchanges on an initiative to try and make the cryptocurrency market price data much more transparent than it currently is.

This is a problem that has been well documented by recent reports for example from Bitwise and others. The alliance includes Binance, Bittrex, OkeX, Huobi, Liquid, Upbit, KuCoin, HitBTC, Gate.io, OceanX and Bitfinex who will be providing insights on how to increase transparency in the industry.

CoinMarketCap is also demanding that all cryptocurrency exchanges which are featured on CoinMarketCap must provide live trading data and live order book data. Any exchange which doesn’t comply with that within the next 40 days will be delisted from the adjust volume section.

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May 3-4 was a bad day for Hi Mutual Society (HMC) after -3.39% fall

Regarding the healthcare system, the HMS team plans to mitigate the long payout period and high reject rate by implementing the smart contract …

It was bad day for Hi Mutual Society (HMC), as it declined by $-0.000135768 or -3.39%, touching $0.003869388. International Cryptocoin Experts believe that Hi Mutual Society (HMC) is looking for the $0.0042563268 goal. According to 2 analysts could reach $0.00874558318912863. The highest price was $0.004123953 and lowest of $0.003835446 for May 3-4. The open was $0.004005156. It last traded at OKEX exchange.

For a month, Hi Mutual Society (HMC) tokens went down -7.98% from $0.004205 for coin. For 100 days HMC is down -40.31% from $0.006482. It traded at $0.0148 200 days ago. Hi Mutual Society (HMC) has 1000.00 million coins mined with the market cap $3.87 million. It has 1000.00M coins in circulation. It was founded on 01/01/2018. The Crypto HMC has proof type and operates under algorithm.

Hi Mutual Society (HMS) is a blockchain project developed and operated by Qfund, the largest online crowdfunding platform in Asia. HMS intends to build up a decentralized Mutual Society using blockchain technology and deliver relevant services in the healthcare and insurance industries. On the insurance industry, the HMS aims to introduce digital currencies systems to eliminate the inflation risk and store the sensitive data collected during the insurance period on the blockchain, keeping it safe from external attacks. Regarding the healthcare system, the HMS team plans to mitigate the long payout period and high reject rate by implementing the smart contract feature to improve the system efficiency.

The HMS token is an ERC-20 compliant token that will be used as the medium of exchange within the platform.

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Cryptocurrency Market: Bitcoin, BCH, LTC, ADA, TRX Price Analysis

Cryptocurrency Market: Bitcoin, BCH, LTC, ADA, TRX Price Analysis … litecoin, bitcoin cash, EOS, Cardano, ripple, Tron, stellar and binance coin.

ErisX to launch Spot Market Exchange:

The US-based cryptocurrency exchange ErisX has officially announced the public launch of its spot market exchange with USD markets for Bitcoin, Ethereum, Bitcoin Cash and Litecoin. The ErisX spot exchange is just the first part of a platform that will make available both spot price cryptocurrency trading and a regulated futures exchange.

ErisX is one of the main players which right now is trying to get the CFTC to approve its bitcoin futures contracts. ErisX, like the other major players, have been sitting around waiting for a very long time for approval of its bitcoin futures products. It will also be launching a cryptocurrency clearinghouse.

Also worth remembering is that ErisX is backed by Nasdaq Ventures & Fidelity and is gearing up to be a very big cryptocurrency player.

CoinMarketCap to Make Crypto Market Price Data More Transparent:

CoinMarketCap has announced that it will be working with the major cryptocurrency exchanges on an initiative to try and make the cryptocurrency market price data much more transparent than it currently is.

This is a problem that has been well documented by recent reports for example from Bitwise and others. The alliance includes Binance, Bittrex, OkeX, Huobi, Liquid, Upbit, KuCoin, HitBTC, Gate.io, OceanX and Bitfinex who will be providing insights on how to increase transparency in the industry.

CoinMarketCap is also demanding that all cryptocurrency exchanges which are featured on CoinMarketCap must provide live trading data and live order book data. Any exchange which doesn’t comply with that within the next 40 days will be delisted from the adjust volume section.

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Bitcoin is Saving Investors from the Failing Turkey lira, Cryptocurrencies Overtake the Bear Market

Bitcoin is growing in value all over the world. The recent decline in prices for the Turkish Lira against the dollar has helped the major cryptocurrency …
Bitcoin is Saving Investors from the Failing Turkey lira, Cryptocurrencies Overtake the Bear MarketBitcoin is Saving Investors from the Failing Turkey lira, Cryptocurrencies Overtake the Bear Market

Bitcoin is growing in value all over the world. The recent decline in prices for the Turkish Lira against the dollar has helped the major cryptocurrency climb even further in prices. Turkey is one of the fastest growing countries in terms of cryptocurrency support. Since the OKEx, a global exchange has launched there has been some thirty thousand new users from Turkey on the platform. Other numbers and metrics support the claims that Turkey is one of the fastest growing crypto countries in the world according to Andy Cheung, operations director at the exchange.

Cheung stated,

“Turkey is without a doubt the only country that boasts of a high percentage of independent crypto-ownership in Europe and the Middle East,” Cheung said. “It has one of the most robust and promising crypto communities anywhere in the entire world.”

As it is today, at least 6% of the crypto-fiat liquidity is linked to the Lira. It is currently the fifth most used crypto/fiat pair in the world. There is a continual growth for Turkey’s need of Bitcoin due to inflation. Last year in 2018, a survey proved at least 18% of Turkish residents own Bitcoin, making Turkey the county with the highest rate of Bitcoin holders on the continent. The rate of long-term holders is even higher than in the United States by more than 2X, with the US being 21% and Turkey 45%.

CEO of BtcTurk Guneri said, “We have never seen a declining number of users, just the pace of growth might go down a little bit. Even on the most bloody day, we’re signing up new users,” also speaking about a trade volume of more than $14 million in the last few days.

Cryptocurrency trade numbers are growing in Turkey, helping them become a worldwide influence on the exchanges. Numbers are showing that whenever the Lira drops against the dollar, cryptocurrency trade volumes climb significantly.

WorldWide Influence

Turkish trade exchanges like BtcTurk are now providing services for foreign traders as well. This is the first time this has happened in the country. Guneri also stated,

“The volatility of the Turkish lira is quite high and couple that with the price of bitcoin … and we have a market that is illiquid enough that sometimes there are inefficiencies that you can benefit from. Yet we are liquid enough for institutional investors to operate.”

Many investors in Turkey buy Bitcoin in the country then transfer to its world exchanges to allow for more pairing options when trading. Many investors are then able to improve their investments by backing it with other currencies than the Turkish Lira, a currency known to be extremely unreliable in nature. There is now a proven steady growth for Bitcoin in Turkey, and an increase for the country as a global influencer in the realm of cryptocurrency.

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XRP Records Over 5% Surge With Nasdaq Exchange Adding New XRP Index

Ripple’s native token, XRP is one such cryptocurrency which is on hot bulletins every so often. However, at this time, the coin has surged more than 5 …

Ripple’s native token, XRP is one such cryptocurrency which is on hot bulletins every so often. However, at this time, the coin has surged more than 5 percent within the past 24 hours.

At the time of writing, XRP holds its third largest position in terms of market capitalization. The currency is finally crossing its $0.30 figure which was however lower than the present figure. As per the data provided by coinmarketcap, XRP has gained 5.21 percent which influenced its average trading volume$13,001,369,287.

XRP price chart
Source – coinmaketcap.com

Taking a closer look at XRP’s trading volume, there seems an infamous crypto exchange where XRP is being traded on high volume. As such, we can see ZBG, BW.com, ZB.com, RightBTC, FCoin, Fatbtc, OKEx, RightBTC and CoinTiger are the top exchanges, contributing a major trading volume to XRP, the third largest cryptocurrency. Nevertheless, the major contribution comes in pairs of XRP with USDT and BTC.

XRP-Market
Source: Coinmarketcap.com

The rise of XRP volume is closely connected with latest XRP index addition announcement by Nasdaq stock exchange.

Nasdaq, an American stock exchange announced on April 30, that it is adding XRP index developed by Brave New Coin (BNC) to its Global Index Data Service (GID) on May 01, 2019. With successful addition of BLX (bitcoin liquidity Index), ELX (Ethereum Liquidity Index), BNC has finally made its XRP Liquidity index or XRPLX on Nasdaq’s Global Index Data services.

Also Read: Ripple [XRP] Price Analysis: Leads Crypto Recovery Ushering in A Bullish May 1

Following a couple of hours after the news broke, XRP has surged by about 4 percent and at press time, it gripped the higher volume of over 5 percent.

This seems to be more flattering update as Nasdaq is one of the largest stock exchange – since the attention caught by such players eventually influenced the value of respective coin during the particular period of time. Moreover, BNC’s XRP index on Nasdaq will bid the real-time XRP price information by sourcing data from the only more liquid exchange. To start, it is fetching data from Bitfinex, Poloniex, Bitstamp, and Kraken. Moreover, it will have Coinbase in its box in the near future.

What do you think about XRP’s latest gain of more than 5 percent.? Do you think it will gain even higher? Let us know in the comment below

Summary
XRP Records Over 5% Surge With Nasdaq Exchange Adding New XRP Index
Article Name
XRP Records Over 5% Surge With Nasdaq Exchange Adding New XRP Index
Description
Ripple’s native token, XRP is one such cryptocurrency which is on hot bulletins every so often. However, at this time, the coin has surged more than 5 percent within the past 24 hours.
Author
Tabassum
Publisher Name
Coingae
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