Cryptocurrency spot and derivative exchange OKEx in collaboration with Coinpaprika studied the Indian cryptocurrency markets and estimated that the global share of cryptocurrency transactions in India will increase significantly in the next two years. India’s growing demand for crypto will be driven by the need for lower remittance fees and a more stable currency to store value. As per report Indians working beyond the borders sent more than $80 billion back home in 2018 and paid as much as $5.67 billion as transaction fees. #Crypto #CryptoNews #CryptoCrunchApp
Bitcoin is about to enter a new bull market, according to its stock-to-flow model. In a celebratory tweet, anonymous Bitcoin analyst PlanB has just noticed that Bitcoin’s stock-to-flow model has managed to print its first red dot in three years. Those who firmly believe in the accuracy of the controversial model can, however, treat it as the official start of another glorious Bitcoin bull run. Based on Bitcoin’s historic price action, PlanB expects the largest cryptocurrency to reach the make-it-or-break level of $100,000 by December 2021. #Crypto #CryptoNews #CryptoCrunchApp
As the world turns more digital, crypto's pioneer asset Bitcoin (BTC) could take on gold's store of value role, according to the Mike Alfred, CEO and co-founder of analytics firm, Digital Assets Data. He told, the most compelling use case continues to be in emerging markets where monetary instability and inflation makes it extremely risky to save in the local currency. Venezuela, for example, was hit hard by inflation in recent years. Bitcoin, however, found greater popularity in the middle of such cash troubles. #Crypto #CryptoNews #CryptoCrunchApp
Even still, there remain thousands of projects promising to be the “next BTC”. One of the earliest Bitcoin bulls Max Keiser told, these projects have no intrinsic value. Speaking in a recent interview with London Real, he explained that there is “no coin out there that can do something that Bitcoin doesn’t do already or will be able to do shortly.” He added, Bitcoin’s security, with a majority of the hash power and the majority of the crypto market share, also makes it a better bet than altcoins. #Crypto #CryptoNews #CryptoCrunchApp
The Central Bank of Russia is reportedly developing a digital mortgage platform powered by a domestically developed blockchain called Masterchain. According to Olga Skorobogatova, first deputy governor at the central bank, Masterchain has recently started to support digital mortgages, which forms a foundation for the upcoming platform. The financial institution has already submitted the proposal for its digital mortgage project to the government and the Federal Service for State Registration, Cadastre and Cartography. #Crypto #CryptoNews #CryptoCrunchApp
Crypto artist sold his “I Can’t Breathe” art piece for crypto on a blockchain-backed social network. Osinachi, a self-taught Nigerian digital and crypto artist, has sold his latest “I Can’t Breathe” digital art piece on May 31 for 7 Etherum (ETH), about $1,703 at press time on a blockchain art social network site SuperRare. Osinachi’s piece reflects on the violence that unravelled in an American city of Mediapolis, and was sold in less than six hours at an auction. According to the artist, part of the proceeds will go to a notable cause. #Crypto #CryptoNews #CryptoCrunchApp
The COVID-19 pandemic has enormously disrupted global supply chain channels, resulting in a whole array of problems for all the participants along the supply chains, including farmers, manufacturers, and distributors. In a bid to help such vulnerable farmers with exporting their premium outputs, Producers Market, which connects farmers directly with buyers has embraced the VeChain to bridge the gap between the farmers and consumers by integrating distributed ledger technology (DLT) into the value chain. #Crypto #CryptoNews #CryptoCrunchApp
The Swiss Financial Market Supervisory Authority, or FINMA, has authorized InCore bank to carry out digital assets transactions, allowing customers worldwide to access and transact within the bank. The official announcement represents an important step in creating a blockchain-friendly environment across the EU banking sector. InCore bank becomes the first Swiss business-to-business bank approved to operate within the crypto sphere. The firm now allows the institutional clients to trade, hold, and transfer digital assets. #Crypto #CryptoNews #CryptoCrunchApp
The liquidity index for the cryptocurrency Ripple paired with the Mexican Peso (XRP/MXN) hits a new record on Mexico's largest crypto exchange Bitso. The liquidity index of XRP/MXN on Bitso, from 32,962,643 on May 27th, rose to 35,168,346 on the 28th, and to 36,023,811 on the 29th before peaking at 36,795,339 on May 30th, surpassing the previous record of 36,023,811. Bitso uses Ripple’s On-Demand Liquidity (ODL) service to convert US dollars into XRP by transferring the digital asset to banking partners, where it is then converted to Mexican pesos. #Crypto #CryptoNews #CryptoCrunchApp
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