Cryptocurrency Investors stand by Ripple, XRP surges by 9%
The popular crypto traded at $0.476380 with a daily trading volume of $7 billion.XRP is up 9.06% for the day.
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Investors are trooping into the crypto asset at record levels amid reports that reveal an ongoing legal tussle with the US SEC.
Just recently the powerful financial regulator stated that the flagship crypto and Ethereum were not securities due to their decentralized nature meaning it was safe for crypto exchanges to trade such unregulated financial assets.
However, Ripple was viewed in a different way on the bias that its development and distribution of XRP were conducted by Ripple in a centralized way.
At press time, the popular crypto traded at $0.476380 with a daily trading volume of $7 Billion.XRP is up 9.06% for the day.
READ: Most powerful financial leader takes side with CBN, says Bitcoin is untrustworthy
The crypto is currently valued at around $22 Billion.
It currently has a circulating supply of 45.4 billion XRP coins and a maximum supply of 100 billion XRP
The seventh most valuable crypto is presently traded on FTX, Binance, OKEx, Crypto.com, and HBTC.
These gains will surely calm the nerves of many XRP investors disturbed by the ongoing legal tussle between Ripple and a powerful financial regulator.
READ: How artificial intelligence is changing the narrative in forex and crypto trading
Ripple’s XRP is often tagged as the “remittance network” and currency exchange that independent servers authenticate.The currency traded is known as XRP and transfer times are super-fast.
Ripple (XRP) plays dual roles as a payment platform and a currency.The platform is an open-source platform that was created to allow quick and cheap transactions.
Olumide Adesina is a France-born Nigerian.He is a Certified Investment Trader, with more than 15 years of working expertise in Investment trading.Message Olumide on Twitter @tokunboadesina.
He is a Member of the Chartered Financial Analyst Society.Click to comment Your email address will not be published.Comment Morgan Stanley becomes first major U.S Bank offering clients Bitcoin
New York-based investment bank will allow its wealthier clients access to the volatile Crypto.
Published Olumide Adesina
America’s elite bank, Morgan Stanley has become the first major bank offering its wealthy customers access to bitcoin funds.
In a report credited to CNBC, Morgan Stanley’s wealth management with about $4 trillion in client assets, informed its financial advisors through an internal memo that it was starting access to three funds that enable ownership of the flagship crypto.
Such feat is going to boost the world’s most popular crypto asset in the near term at least on the account a leading investment bank with a massive global footprint is providing its clients exposure to Bitcoin.
However, it is critical to note the New York-based investment bank is only allowing its wealthier clients access to the volatile Crypto, as customers with about $2 million by asset qualify for such access.
Though even for those accredited U.S.
investors with brokerage accounts and enough assets to qualify, the bank is curbing bitcoin investments to as much as 2.5% of their total net worth.
This would further fuel the crypto’s bullish rally presently in play.
Not forgetting that investors are flocking into Bitcoin on the bias that reveals credible institutional investors from Tesla Inc, BlackRock to Square move a portion of cash reserves into cryptocurrencies as digital assets become more mainstream.
That being said, it’s key to note that Bitcoin is becoming very scarce, amid the bias that its present supplies are arbitrarily squeezed by strong institutional buying, as recent data reveal Bitcoin’s supply has been dropping for 12 months.
There are currently about 2 million BTCs available in satisfying the high demand for the world’s most demanded financial assets Cardano on a high buying spree, explodes by 20%
The bright shining crypto traded at $1.234007, up 20.12% on the day.
Published Olumide Adesina
Cardano, in recent times, has been enjoying massive buying pressure amid the record sell-offs sighted in other crypto assets like Bitcoin, Ethereum, and others.
The fast-rising valuable crypto asset has witnessed a fresh wave of buying sprees, seeing its price post near a new all-time high.This makes it the fourth-ranked crypto by market value.
READ: Football-based Crypto, is world best performing Crypto in 7 days At the time of writing this publication, the bright shining crypto traded at $1.234007 up 20.12% on the day.
It was the biggest one-day percentage gain since February 20.Such gains pushed Cardano’s market value to $37.2 billion or 2.17% of the total cryptocurrency market valuation.At its highest, Cardano’s market value stood at $41.6 billion.
For the day, Cardano is between $1.001835 and $1.234091.
For the week, Cardano has printed limited upside gains of 0.26%.The volume of Cardano traded for the day to the time of writing was about $5 billion or 3.74% of the total volume of all crypto assets.
READ: List of Cryptos expected to outperform many financial assets in 2021
The widely known crypto among retail investors recently achieved this after a hard fork called “Mary” on March 2.
This hard fork will permit crypto users to create tokens that can run on the same blockchain as Cardano’s native token, ADA.This now means Cardano shares close similarity with Ethereum, which had already allowed for the creation of new tokens on its blockchain.
Highly revered crypto analyst/trader, Michaël van de Poppe, also recommended the fast-rising crypto asset.
READ: Crypto market breaks past $1 trillion for the 1st time in history
In a video (titled “Cardano Breaks $1 But $10 Is Possible In This Bull Cycle! Here’s Why!”) released recently, the crypto pundit told his followers on his YouTube channel:
“Cardano going towards $10 is not that weird to calculate from here, especially given the fact, and I’ve been saying this in the past week multiple times, especially given the fact that Cardano and mostly all the Bitcoin pairs are just barely waking up.So there’s still much more to gain for the Bitcoin pairs.
“Lately, Cardano (ADA) has been tipped to outperform, on the bias that it had its smart contract launch last month, which will lead to a significant amount of applications built on Cardano in 2021.”
This means that more developers will see it as an attractive medium for building their desired apps..
