Altcoins

In its latest report, the Bank of International Settlements doubled-down on its narrative that the COVID-19 pandemic has exemplified the need for central banks to accelerate the development of central bank digital currencies (CBDCs).BIS outlined the ongoing payment digitalization phase and predicted that whoever launches such currency first will ultimately prevail.BIS: Payment Digitalization Comes FastThe report noted that the financial sector is currently in a significant transitioning stage...

Bitcoin cash price started a fresh decline from the $245 resistance against the US Dollar.The price broke the $235 support and revisited the $225 support zone.There is a major bearish trend line forming with resistance near $241 on the 4-hours chart of the BCH/USD pair (data feed from Coinbase).The pair remains at a risk of more downsides if there is a daily close below the $225 support.Bitcoin cash price is trading in a bearish zone and testing the $225 support against the US Dollar. BCH/USD...

The record unemployment experienced in the United States has brought about a whole new appreciation and love for bitcoin and its altcoin cousins, new research shows.No Job? Bitcoin Can HelpThe U.S. has witnessed millions of people losing their jobs and filing for unemployment in the wake of the coronavirus pandemic, with weekly filings growing by millions of people at a time. Businesses have had to shut down unexpectedly as President Donald Trump issued a national emergency in late March and...

Wirecard, a company whose subsidiary issues Crypto.com’s MCO Visa card and TenX’s Visa Debit Card, has filed for insolvency. This comes after it was reported that auditor Ernst & Young was unable to confirm that $2.1 billion appeared on the company’s trust accounts, and its former CEO was arrested.Wirecard Files for InsolvencyAs CryptoPotato reported earlier this month, auditing company Ernst & Young was unable to confirm that $2.1 billion appeared on Wirecard’s trust accounts.Shortly...

Litecoin price started a sharp decline after it failed to clear the $45.00 resistance against the US Dollar.LTC price is now trading well below $43.50 and the 55 simple moving average (4-hours).There is a major bearish trend line forming with resistance near $44.50 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase).The pair remains at a risk of another decline if it fails to stay above $41.00 and $40.00.Litecoin price is trading in a bearish zone against the US Dollar, similar...

ADA price is showing positive signs above the $0.0800 resistance zone against the US Dollar.The price is facing a significant resistance zone near the $0.0885 and $0.0900 levels.There was a break above a major bearish trend line with resistance near $0.0820 on the 4-hours chart (data feed via Kraken).The price must clear the $0.0900 resistance to continue higher towards $0.1000 in the near term.Cardano price is moving in a bullish zone above $0.0800 against the US Dollar, similar to bitcoin....

There are indications surrounding the exigent move by PayPal to go bullish on cryptocurrency-related services as it has announced vacancies for cryptocurrency engineers.The advent of cryptocurrencies is reshaping the narrative on the options for global money transfers. With Bitcoin and altcoins, cash transfers are now faster and come with minimal charges outperforming traditional methods of fund transfer. In finding a solution to the challenge of cash transfers, PayPal Holdings Inc (NASDAQ:...

Tron price is trading above the $0.0155 and $0.0160 resistance levels against the US Dollar.TRX price is likely to accelerate higher if it clears the $0.0168 and $0.0170 resistance levels.There was a break above a key contracting triangle with resistance near $0.0160 on the 4-hours chart (data feed via Bitfinex).The pair could reverse gains if there is no clear break above the $0.0170 hurdle.TRON price is trying to start a strong increase against the US Dollar, similar to bitcoin. However,...

Ethereum price is gaining momentum above the $238 resistance zone against the US Dollar.ETH price is still facing a couple of key hurdles near the $248 and $252 levels.There was a break above a crucial contracting triangle with resistance near $230 on the 4-hours chart (data feed from Coinbase).The pair could correct lower in the short-term, but dips might be supported near $238 and $235.Ethereum price is trading in a positive zone above $235 against the US Dollar. ETH/USD must break the $248...

Grammy-nominated singer Akon has announced his entry into the cryptocurrency market. The vocalist is looking to create his own digital asset that will benefit those who cannot gain access to traditional financial services and tools.Akon Was Inspired by a Recent TripAkon has been a huge crypto fan for years. He first invested in bitcoin in 2014 but says that his full appreciation for crypto technology didn’t arrive until a few years ago when he took a trip from Dakar to Paris. In his pockets,...