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Bitcoin [BTC], XRP, Ethereum and four other cryptocurrencies available for transactions on 2gether Visa debit card

Akash Anand

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Bitcoin [BTC], XRP, Ethereum [ETH] and four other cryptocurrencies available for transactions on 2gether Visa debit card
Source:Pixabay

One of the main focuses of the field of cryptocurrencies has been its integration into the mainstream realm and to give competition to the already existing financial institutions. This approach was given a boost when 2gether, a banking start-up announced that they were launching a prepaid Visa debit card that allows users to spend Bitcoin [BTC], Ethereum [ETH], XRP, Bitcoin Cash [BCH], EOS, Stellar Lumens [XLM] and Litecoin [LTC].

Another feature of the latest updates was that users will be able to use the card in any of the 19 Eurozone countries, which includes, Germany, France, and Belgium. The company’s official release stated:

“Following its successful beta launch in Spain, 2gether, the modern mutual banking platform, is announcing its European expansion. 2gether, advised by KPMG and A.T. Kearney, is empowering users across the eurozone to spend their crypto anywhere, anytime, with one swipe of the 2gether card.”

The company further revealed that citizens of the European Union have to download the application and then complete the Know Your Customer process to use the crypto debit card to its full potential. Ramon Ferraz, the Chief Executive Officer of 2gether, said:



“2gether is developing the bank of the future, where consumers can take full ownership and control of the services they use and go beyond solely interacting with euros and dollars. To date, there has been no consumer-owned, tangible application that connects crypto and the mainstream market. We’re proud to be one of the first companies in the crypto space launching a token sale with an already finished product.”

One enticing feature offered by the company is the absence of any transnational fees, something that a lot of users have been clamoring for a long time. Customers of the crypto card can pay in Euros or instantly convert any of the aforementioned cryptocurrencies to pay using the Visa card. Customers will also be able to hold and manage Euro and cryptocurrency balances in the same app as well as conduct transactions with no exchange price markups.

Visa has been slowly venturing into the field of cryptocurrencies as the credit card giant had acquired Ripple’s partner Earthport back in December 2018. The news also created a frenzy in the cryptoverse with a Ripple shareholder even tweeting:

“This is huge news. Connecting the dots. Earthport is a Ripple partner. Visa is an Earthport partner. This would make Visa a Ripple partner by default.”





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Bitcoin

Bitcoin [BTC] surges above $5,500 and breaks major resistance level; collective market rises

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Bitcoin [BTC] surges above $5,500 breaking major resistance level; collective market surges
Source: Pixabay

Bitcoin [BTC] broke out of its sideways trend that saw coins fall after a brilliant start to April. This “break-out” is especially significant since it came days after the coin was trading sluggishly, pulling the market cap below $175 billion.

After breaking the $5,200 level on April 16, the coin held steady, showing no noticeable dips. However, it also began losing the momentum it had gained when it rose by 15 percent on April 2. Many saw the past week as Bitcoin losing steam, opining that a drop to as low as $4,000 would manifest. This pessimism coupled with the delisting dilemma saw the global market decline by 3.31 percent over the past weekend.

Given this backdrop, the present Bitcoin price incline was even more bullish for the collective market. Further, this was not just an effort to shrug off “sideways bears,” but instead, two key levels were broken in order to usher a collective market rise and sustain BTC bullishness.

Source: Trading View

RESISTANCE

The first, as indicated by eToro’s senior market analyst Mati Greenspan, was the resistance level of $5,350. When Bitcoin began to consolidate following the early April high, Greenspan stated that if the BTC price were to punch above the aforementioned level, it “would likely serve as confirmation that we’re pushing higher and will lead to further buying pressure.”

Greenspan stated that the $5,350 level acted as a major support level throughout 2018. Hence, it is incredibly important that Bitcoin surge above it in the next rise to consolidate buying pressure. Another important point to signal the coming of a bullish market was the 200-day moving average which Bitcoin has stayed above since the April 2 rally.

PSYCHOLOGY

The other significant level for the collective market is Bitcoin’s ascendance over $5,500, which it managed courtesy of this rally. Many, including Greenspan, pegged $5,000 as a key psychological level for the coin and hence, the rise above $5,500 less than three weeks after $5,000 was broken will bring back optimism to the BTC market.



Further, as was seen in the April 2 rise, the Bitcoin pump resulted in the king coin increasing its market dominance. At the close of March, Bitcoin was edging closer to losing the majority. However, the rally saw its share increase to 52.4 percent within a day. Following this recent 4.61 percent increase against the US Dollar, the king coin’s dominance increased to 53.2 percent.

Given the elasticity of the collective market to changes in Bitcoin’s price, the market was awash in green as Bitcoin broke the resistance and psychological levels. Amid this bullish charge, some coins stood out for their above-average gains, which included Bitcoin Cash [BCH], Cardano [ADA], EOS [EOS], Litecoin [LTC], and the exchange-ousted Bitcoin SV [BSV].





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