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Cryptocurrency funds moving towards markets; number of deals has dipped, says Michael Arrington




Cryptocurrency funds moving towards markets; the number of deals have dipped, says Michael Arrington
Source: Pixabay

With the price of Bitcoin [BTC] on the rise and the collective coin market on an upswing, cryptocurrency funds have veered away from increased investment and have primed their focus on the market, claimed Michael Arrington. Arrington is the Founder of Arrington XRP Capital and the Silicon Valley news outlet, Tech Crunch.

Speaking to Ran NeuNer on the latest episode of CNBC’s Crypto Trader, Arrington said that the mood was considerably bullish. As the collective market added nearly $40 billion in less than a week, virtual currency-centric funds have seen a wave of optimism, he added.

Arrington stated,

“I just know that if we put money into the market, and hold long enough and make good bets, eventually, hopefully we’ll make money.”

Arrington added that there was a drop in the number of deals being presented at conferences like Deconomy. Hence, funds are moving away from establishing ties and instead, are looking to trade on the market. He added that similar forums held in 2018 saw considerably higher deals being penned, despite the digital currency market beginning to bleed.

However, Arrington remains optimistic about current prospects,

“I think the deals will pick up again, entrepreneurs will start to build companies, because they know they can raise money and we’ll start to see really good deal flow coming in.”

Given this is the year of “building,” Arrington was asked if projects were ready for implementation or if they were still developing. He responded by stating that mainnets were on the rise. However, only a few were ready for action this year while others required a few more years to be deployed, he added.

He heralded this year as,

“This is definitely the season of the mainnet.”

Arrington highlighted two companies that his fund is not only backing, but have expressed a great deal of interest in. The first is Terra, a South Korean-based stablecoin company, which is one of Arrington XRP Capital’s largest investments. He also mentioned interest in Israel-based SpaceMesh.

He added that deals with non-US based companies were far better as US crypto-investment are highly regulated by the Securities and Exchange Commission. He referred to the country’s financial watchdog as a “total disaster.”

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Graduate of Finance and Economics, interested in the intersection of the world of decentralized currency and global governance.


Basic Attention Token surges by over 6% as Ad Launch nears

Namrata Shukla



Baisc Attention Token surged by over 6% over ads launch hype
Source: Pixabay

The cryptocurrency market appears to be bleeding, however, few altcoins have reported small surges over the past few days, like Basic Attention Token [BAT].

The coin, on April 18 when the entire market was mostly red, surged by over 10% and was trading at $0.3618, its all-time high since July 2018. On April 20, BAT reported a growth of over 6% and was valued at $0.3947, breaking its immediate resistance.

Source: CoinMarketCap

Source: CoinMarketCap

BAT reported a market cap of $493 million and a 24-hour trading volume of $57 million. The coin noted a 6.47% rise in its price over the past day and reported a seven-day surge of 31.20%. BAT continued to register a growth of 1.18% over the past hour.

Crypto-enthusiasts speculate the reason for the surge in prices to be the launch of advertisements on the Brave Browser this month. The BAT token is essentially based on entertainment and can be obtained through a variety of advertising and attention-based services on its platform. According to Twitter user @CryptoNilla,

“They are about to launch ads this month hence the pump.”

BAT was highly traded on ZB.COM exchange as it noted a volume of $8 million via the BAT/USDT pair. The second place was taken by Binance, the largest cryptocurrency exchange as it reported a trading volume of $7 million via the BAT/BTC pair. IDCM was on the third place with $6 million in volume via the BTA/BTC pair.

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