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Cryptocurrency adoption on the rise in Slovenia and Croatia; Bitcoin City expands periphery

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Binance Coin supported by Samsung Galaxy S10 by default with one of the 16 coins
Source: Pixabay

The adoption of virtual currency has been riding high in Eastern and Central Europe with Croatia and Slovenia seeing waves of use-cases. Several retail stores are integrating crypto-centric payments applications within their services, and offering a variety of support coins.

Elipay, the crypto-payments applications on iOS and Android, spearheaded by Eligma has seen waves of increased adoption. The application supports Bitcoin [BTC], Bitcoin Cash [BCH], Ethereum [ETH] and its native token ELI.

The hotbed for the Elipay integration is Bitcoin City, a 475,000 meter-squared commercial shopping complex in the heard of Ljubljana, the capital of Slovenia. Several stores within the “city” have integrated the crypto-payments application and its supported coins.

Dejan Roljic, the CEO of Eligma, said that their service is integrated in 300 locations, with one-third of them located in Bitcoin city solely. He hailed the Bitcoin city project as “the result of infusing one of Central Europe’s largest and most important commercial, shopping and logistic areas.”

Elipay has entered several industries within its existence, making its mark in food and drinks, fashion, electronics, sports, toys, auto, travel and others. They have even joined forces with a taxi service, with the fare to be paid in cryptocurrencies.

Roljic added that Slovenia’s central bank, Eligma, has also been in contact with Slovenia’s central bank for the inclusion of the euro within its services. He added:

“In addition to the use of crypto for shopping with the Elipay system, the Bank of Slovenia has also approved euro value to be added into Elipay by means of credit / debit cards and SEPA.”

Moving southwards, the company has looked to expand to Croatia, with the CEO confirming that Elipay has been granted permission to “legally operate” within Croatia. He added that in order for the system to be localized it will take a few days as integrations with local merchants and service providers have to be completed.

Looking beyond Croatia and Slovenia, Roljic stated that further expansion will only be sought once the Croatian model is successful.



Recently, an association of blockchain and crypto-enthusiasts called Udruga za Blockchain i Kriptovaluate [UBIK] was initiated in Croatia. This association will primarily advise regulators on crypto-trading and crypto-payments within Croatia. Additionally, UBIK will also assist its members with legal, technical, and financial support to allow ease of regulatory pressure.

Europe has seen a wave of regulatory development with blockchain and crypto-centric associations of-late. With the creation of the International Association for Trusted Blockchain Applications [INATBA] policy-makers, regulators and civil stand setting organizations can work closely with leading DLT companies. A host of prominent crypto-companies are founding members of the association, including Ripple, Ledger, R3, IBM, Swift, Cardano, Accenture and more.





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XRP

Has XRP decoupled from Bitcoin? Is it due to immense pressure from manipulators?

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Hash XRP decoupled from Bitcoin? Is it due to immense pressure from manipulators?
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Opinion: Bitcoin, the first cryptocurrency, has had over ten years to grow. However, other altcoins did not have the liberty, due to which Bitcoin exerts its dominance over almost all altcoins in the ecosystem, be it Ethereum, XRP, or Cardano. The price of altcoins generally tends to rise if Bitcoin’s price surges rapidly. The same can be said about the downtrend as well, which is why altcoins are said to be coupled with Bitcoin.

However, the recent buzz on crypto-twitter is that XRP is on the verge of decoupling from Bitcoin. A Twitter user @XRPMOONSHINE tweeted:

“DO ME A FAVOR OPEN UP A BTC/USD CHART AND AN XRP/USD CHART. THEY HAVE DECOUPLED AND ARE MOVING DIFFERENTLY.”

In a very general sense, the comparison of the price change of XRP and BTC gives a crude understanding of whether the prices have actually decoupled or not. Hence, the daily chart attached below shows the price of BTC and XRP against the US Dollar and extends from August 2018 to April 2019. The price of XRP seems to be following a lag from the price of BTC and do not necessarily mean that it has decoupled.

However, there are timeframes where the price of XRP has moved completely unrelated to that of Bitcoin. For example, the meteoric rise of XRP from September 18 to 22 was far higher than the price pump of BTC over the similar timeframe; but the drop of XRP from November 18 to December 16 was exactly the same as that of BTC’s.

Furthermore, XRPMOONSHINE suggested that XRP price was being manipulated. He tweeted:

“It is being manipulated to keep it from rising. For example look at XRP/BTC pair. Keeping it under the down sloping resistance from .80 in September. Thats what I mean by Suppressed, Although im expecting a fairly large move to the upside before 4/24/19.”

The “idea” of the price of XRP being manipulated is not unpopular within the XRP ecosystem as Peter Brandt, a famed trader, suggested the same in one of his tweets.

Brandt tweeted:



Conclusion

XRP may have started to decouple from Bitcoin, but it surely hasn’t decoupled completely. The notion that XRP is being manipulated to keep its price below certain levels can also not be confirmed without proof.





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