Top 5 latest crypto news updated of the week
2020 — a successful year for Binance
Binance Exchange profits are likely to increase by at least a half in comparison with $570 million in 2019, reaching from $800 million to $1 billion, according to CEO Changpeng Zhao. In addition, he explained this growth may be motivated by market uncertainty, which promotes interest and trading in cryptos.
Bitcoin struggling break its $20,000 level
Recently, Bitcoin has set its new all-time high at $19,920.53; however, to break above the $20,000 level still requires lots of efforts. According to analysts, this level causes traders a huge psychological blow, increasing the number of sell orders near this threshold.
48 billion XRP and the risk of being burned
Half of the XRP supply, equivalent to 48 billion XRP that Ripple Labs holds now, is on the verge of being burned, according to David Schwartz, Ripple chief technology officer. This can lead to an increase in the XRP’s price to 29 cents.
Bitcoin still a risky choice
Investors expect Bitcoin as a “value store”. However, Tom Jessop, head of Fidelity Digital Assets (FDAS), said during Thursday’s Reuters Global Investment Outlook Summit 2020 that the oldest cryptocurrency is still quite unpredictable and may be at risk.
An increase in Bitcoin price and its significant outcomes
The strong momentum in Bitcoin price over the last three months weakens the correlation between Bitcoin and Etherium. Some analysts indicate that the more capital poured into Bitcoin, the higher its price which forces Ether and other cryptocurrencies to gradually decouple from the largest cryptocurrency.
