Bitcoin (BTC) continues to lead the popularity contest among the top cryptocurrencies — but it has fewer addresses with actual coins in them than Ethereum. According to data from on-chain market analyst Glassnode, Bitcoin has almost three times as many daily active addresses as Ethereum (ETH), 11 times more than Litecoin (LTC) and 140 times more than Ripple (XRP). Source: Glassnode Bitcoin is growing faster than others The number of new Bitcoin addresses being created each day is almost five times that of Ethereum. New Bitcoin addresses reached almost 470K in 24 hours, the day after the Bitcoin halving, in …

While retail traders fret over whether Bitcoin (BTC) will break above $10,000 or not, the institutional players silently continue to build positions. On May 19 major digital asset management fund Grayscale tweeted that its assets under management had increased over 80% from $2.1 billion to $3.8 billion over the period of one year. This suggests that institutional money is gradually flowing into cryptocurrencies. The majority of the investment was done in Bitcoin, the top-ranked cryptocurrency on CoinMarketCap. Usually, institutional investors take a long-term view and are not perturbed by the short-term swings. Daily cryptocurrency market performance. Source: Coin360 Similarly, the …

Several economies around the globe are lifting lockdown restrictions that have been in place for the past few weeks. This will enable businesses to gradually get back on track and investors are also closely watching the various coronavirus vaccines that are in developmental stages. Any positive news on this front is likely to boost sentiment. As the globe is flush with liquidity, any improvement in sentiment could drive traders into risky assets in order to generate strong returns to make up for this year’s losses. Bitcoin (BTC) has done exceedingly well during the crisis, which is likely to attract the …

The U.S. Consumer Financial Protection Bureau (CFPB) has recognized the role of Ripple and XRP in cross-border transfers, a recent rule on remittance transfers shows. According to the May 11 paper, the CFPB — a bureau tasked with protecting U.S. consumers in the financial sector — has been researching new trends on the remittance market. Among one of those developments is “the continued growth and expanding partnerships” of digital asset companies like Ripple, the agency noted. The CFPB also highlighted that XRP can be used to effect settlement of cross-border money transfers, adding that the company’s suite of products could …

The number of Ethereum (ETH) longs has continued to surge after breaking into all-time highs at the end of March. Despite the broader crypto markets posting price gains alongside Bitcoin (BTC) in recent weeks, the number of open longs remains low for most crypto assets after plummeting during the mid-March crypto market crash. Ether longs dominate crypto markets Since breaking into record highs on Feb. 26, ETH/USD longs on major crypto exchange Bitfinex have increased by 170%, with the violent Black Thursday mid-March crash failing to drive even a modest retracement among Bitfinex’s bulls. Bitfinex ETH/USD Longs 1W September 2017 …

Ripple partner and investor, SBI Holdings, announced plans to integrate Ripple-powered settlements across ATMs in Japan. The news was revealed in SBI’s latest financial report, announcing a plan to integrate the Ripple-powered settlements platform MoneyTap with ATMs run by various banks across Japan. The integration is intended to provide consumers with easier access to funds at ATMs regardless of their banking affiliation. SBI to integrate Ripple tech across Japanese ATMs SBI claims that integrating MoneyTap will also allow banks to reduce the costs incurred through operating an ATMs, stating: “Currently, each bank has an ATM with its own bank app, …

A month after the first halving, Bitcoin (BTC) moved up by 7% but following the second halving, the price slipped by 10% in a month. This suggests that if history were to repeat itself, the top-ranked cryptocurrency on CoinMarketCap will remain volatile but a large move in either direction is unlikely in the first month. However, the derivatives markets could be giving a signal that this time is different. This week CME Bitcoin options open interest increased to about $142 million, an increase of over 1000% since the end of April, according to data from Skew. This shows that the …

History suggests that Bitcoin (BTC) halvings have led to massive bull runs. After the first halving in November 2012, the top-ranked cryptocurrency on CoinMarketCap surged 10,000% from late 2012 to 2014. The second halving that took place in July 2016 produced a rally of about 2,500% from mid-2016 to Dec. 2017. On May 11, Bitcoin completed its third halving and the expectations are for another huge up move. Other than history, current fundamental factors are setting the stage for a huge rally in Bitcoin’s future. The world is currently in the midst of a financial crisis due to the coronavirus …

The blockchain-based payment network Ripple recently added a job opening on its official website for a “Director of Product Management, Loans.” The description indicates that Ripple is working on a new loan product to help its customers with working capital loans. Working capital loans are loans companies take to financially support their everyday operations in the short term. A blockchain-based loan product could potentially shorten the time for companies to avail capital loans, reduce paperwork, and improve transparency and accountability between the involved parties. Considering Ripple’s wide reach across major financial institutions, this could be a huge benefit for companies …

Research has found the vast majority of transactions on EOS, Tezos and XRP do not transfer any value. According to a research paper released on pre-print site arXiv, only 2% of transactions on the XRP ledger and 18% of transactions on Tezos (XTZ) lead to value transfers. They found that during the period of October 1, 2019 to December 31, 2019, 95% of transactions on EOS were related to the airdrop of a currently worthless token. Daniel Perez from Imperial College London, and Jiahua Xu and Benjamin Livshits of UCL Blockchain authored “We Know What They’ve Been Put Through: Revisiting …

Tether’s USDT has just surpassed XRP in market capitalization, becoming the third-biggest cryptocurrency in the moments leading into the Bitcoin halving. Sitting with a market cap of $8.79 Billion, it is now bigger than XRP, whose market cap is roughly $8.6 billion. USDT is currently second only to Ether (ETH) as the largest altcoin in the cryptocurrency market. The market cap rise comes as a result of the constant increase in the supply of USDT, the majority of which circulates on the Ethereum blockchain. There have also been huge inflows of USDT into exchanges in recent weeks in the run-up …

Yoshitaka Kitao, Chief Executive Officer (CEO) of Japanese financial giant SBI Holdings, has proposed Ripple partner with multinational companies in addition to financial institutions. His recommendation was partially influenced by Japan’s handling of the COVID-19 pandemic. Kitao, also a Ripple board member, talked to reporters gathered for an SBI conference call on April 28. The CEO said that his lawyers would attend Ripple’s next executive committee and asked them to promote new partnerships with multinational corporations like Big Shosha, a Japanese trading company. "By adding multinational companies to the Ripple network and not just financial institutions we can expect [the …