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April 2015

Bitcoin Remains Stable | Crypto Market Capitalization Hits New High

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Bitcoin

Bitcoin

Over the last month, the cryptocurrency market was on a hot streak, rising about 38% as investors piled into crypto assets such as Bitcoin and other popular alternatives like Litecoin, Ripple’s XRP, Ethereum, Bitcoin Cash, and EOS.

Crypto Market Capitalization Hits New All-Time High

At the beginning of the month, Bitcoin (BTC) price surged, taking analysts and traders by surprise as to what might have caused the sudden increase in price. However, analysts are unsure whether the cryptocurrencies will hold their recent gains. But considering Bitcoin has managed to maintain the price above $5,000, it shows signs of strength that the growth will continue.

This week the crypto market capitalization of Bitcoin and another 2,000 cryptocurrencies hit $186 billion, an all-time high for this year. Apparently, Bitcoin makes up almost half of the crypto market capitalization, with over a $90 billion market cap. Crypto analysts have labeled the sudden rally as the ‘Altseason’ because of the double-digit gain made by the smaller cryptocurrencies.

Bitcoin will Exceed $20,000 Price in a Few Years

The recent rally has been seen by industry players as good news, and it is a result of various developments in the crypto industry. This week the price of cryptocurrencies continued to grow following the launch of the Coinbase crypto card in the UK. Also, most of the major cryptos maintained their strong positions because of bullish comments from analysts and industry watchers, which caused a surge in sentiments allowing the coins to maintain the high prices.

>> Coinbase Executive Leaves: 3 Major Departures in 6 Months

Brian Kelly of BKCM investment management firm stated that the price of Bitcoin will, in the next few years, exceed the 2017 all-time high of $20,000. He added that the growth of crypto networks and institutional adoption of cryptocurrencies will continue to push the price of cryptocurrencies higher in the coming years.

eToro market analyst, Mato Greenspan indicated that there was a step down in the crypto market after a breakout week. He added that failure to go up demonstrates the present appetite, but it does not mean that growth will decline.

Featured image: DepositPhotos @ Varavin88

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Coinbase Pro Increases Fees, Resumes Accepting GBP

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Coinbase

Coinbase

Coinbase has announced that it will increase fees on its Coinbase Pro platform as well as resuming support for UK deposits and withdrawals.

Coinbase Pro, the cryptocurrency exchange’s platform for professional and institutional traders, will adopt a new fee structure that will see an increase in fees on all transactions under $10,000 USD and between $10,000 USD and $50,000 USD. The new structure will see maker fees rise by 233% for the lowest tier of transactions, from 0.15% to 0.50%, while taker fees will go from 0.25% to 0.50%, an increase of 100%. The maker and taker model is a way to differentiate fees between trade orders that provide liquidity (maker orders) and take away liquidity (taker orders).

The new fee structure has caused outrage in the crypto community, with many users saying the only solution is to simply abandon Coinbase in favor of a rival platform, such as Kraken. One Reddit user stated“Meanwhile stock brokerages are all going fee-free.. I emailed support blasting them. If they don’t change, I’m going to Kraken,” while another said, “Conbase is the correct spelling.” Coinbase has said that the aim of the new fees is to increase the depth and liquidity of the market; however, some users have said the platform is continuing to favor big traders.

>> PayPal Might Quit Facebook’s Libra Project: Key Implications

Meanwhile, Coinbase has also announced that it has resumed support for the British pound sterling (GBP) following months of backup. Back in July, the exchange was dropped by British bank Barclay’s, a partnership that was once hailed as the most prestigious in crypto, after the bank lost its appetite for cryptocurrency. However, Coinbase UK was immediately picked up by ClearBank, a considerably smaller “challenger bank” in the UK.

Coinbase UK was unable to immediately recommence operations with ClearBank as it had to meet several requirements first, including the delisting of Zcash (ZEC). The exchange has also revealed that UK users will now be able to trade five new coins, including Ripple’s XRP.

Featured Image: DepositPhotos © dennizn

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NetCents Doubles Partnership Agreements in Six Months

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NetCents

NetCents

NetCents Technology Inc. (CSE:NC) (OTCQB:NTTCF) announced Wednesday that it is accelerating its pace for market adoption and integration through the sign on of its 40th partnership agreement.

Doubling its number of partnerships in just over six months reflects NetCent’s aggressive trajectory to accelerate its partner growth and keep pace with merchant adoption of cryptocurrency. It also demonstrates the increased willingness of merchants to adopt traditional payment alternatives by incorporating NetCent’s payment solution in-store, online, and within their POS systems.

“This accelerated partner growth continues to validate our business model and the future of the Company,” said NetCents founder and CEO Clayton Moore. “Whereas in 2018 and early 2019, we needed to actively sell our partners on the advantages of NetCents, we are now having major players in the payments space actively seek us out to allow them to offer cryptocurrency by embedding our Merchant Gateway within their technology, providing merchants a seamless experience and onboarding process for cryptocurrency payments.”

NetCents has embedded its cryptocurrency merchant gateway technology within all major traditional payment sectors through its partnerships with payment processors, merchant gateways, ISO’s, ISV’s, and terminal manufacturers.

This integration provides NetCents with a competitive market advantage of being the default cryptocurrency payment provider for merchants and also gives the company access to hundreds of additional partners, millions of merchants, and a sales force of thousands of agents who will sell the NetCents crypto Merchant Gateway to their existing merchant base.

Moore explained that the company is already seeing the early success of its partnership strategy come to fruition. In fact, NetCents signed on more merchants in the first week of September than it did in the entire month of May and has already experienced an average 95% monthly increase in merchant signups since May 2019, as well as a 39% increase in processing volume every month since February.

NetCents Develops Merchant Acquisition Plan to Enhance Partnership Program

NetCents also announced that it has begun its Merchant Acquisition Plan (MAP) to enhance its partnership program and keep up with the abundance of partnership agreements being inked. The goal of MAP is to add 15 enterprise merchant that process over $20 million USD per year in sales, with a monthly baseline of $100,000 cryptocurrency transactions.

To ensure its success, NetCents has assembled a team of industry-leading veterans to develop, launch and manage MAP. The team is focused on analyzing tens of thousands of businesses across North America, Australia, and Europe, ranking them against a scoring system, personalizing their outreach message by vertical or business, and launching an educational content program on market trends as well as the company’s products and programs.

Although the program launched less than a week ago, the MAP team has already reached out to 287 merchants who fit the selection criteria, with an initial 26% engagement rate. The campaign will continue to run through March 2020. During that time, the team expects to add an additional 100-300 merchants to its outreach queue on a weekly basis.

It will be exciting to see how many merchants will jump onboard from now until March and if the company will meet its acquisition goals.

Despite its accelerated growth strategy and partnership success, NetCents share price was down 10.71% by 4:00 pm EST on Wednesday.

Featured Image: Depositphotos ©pressmaster

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Ethereum Gains as Momentum Returns, Jumps 20% This Week

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Ethereum

Ethereum

While Bitcoin went on its incredible rally during the first half of the year, its biggest competitor, Ethereum (ETH), struggled massively and failed to generate any meaningful gains for its holders. There was a time when many had predicted that ETH was going to eventually overtake Bitcoin, but that never came to pass, and this year, the performance was particularly disappointing.

Is it a Bullish Sign?

However, it seems that ETH is making a comeback this week; the token recorded massive gains to stoke excitement in the crypto sphere yet again. In this regard, it is important to note that despite its struggles over the past months, ETH was never in danger of losing its status as the world’s second-largest cryptocurrency by market cap.

Due to the massive surge in its price this week, experts have predicted that the ETH price might, in fact, cross an important hurdle of the $220 barrier soon. Now, one thing that needs to be understood with regards to Ethereum is that the cryptocurrency is now among the older ones in the market, along with Bitcoin, and hence, it enjoys a bigger status in the market.

While Bitcoin was going through one resistance after another during the first half of the year, ETH was trading within a range. However, that has now changed.

>> Bitcoin Cash Will Be Available on HTC’s Blockchain Phone

Since last Friday, ETH has gained as much as 20% and has the momentum to gain more within the next few days. At the time of writing, the price for one ETH stood at $209, and the total market cap of the coin touched $22.45 billion. That being said, the sudden rally in ETH still remains unexplained, and it remains to be seen how long it can sustain.

Moreover, the experts in the crypto market have even gone on to say that the sustained rise in Ethereum could also prove to be a boost for Bitcoin.

Featured image: DepositPhotos © Violka08

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