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John McAfee on Bitcoin, BlockFi faces backlash and more

Jibin M George

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Daily Crypto News – 21 March

Coindcx launches lending program: Indian crypto exchange, Coindcx, announced the launch of Dcxlend, a crypto-lending program, that will support five cryptocurrencies, including Bitcoin and XRP.

Read more at https://bit.ly/2Cw1wEe

Ledger’s CEO on the cryptoverse: Eric Larchevêque, CEO of the hardware wallet manufacturer, Ledger, stated that financial institutions want to build a back office using cryptocurrency and its underlying technology.

Read more at https://bit.ly/2HJyODf

Facebook joins crypto race: The Mark Zuckerberg-led social media giant is stepping up its crypto project, and is looking for a lead counsel to head its Blockchain division.

Read more at https://bit.ly/2TplUMS

Mike Novogratz on Satoshi Nakamoto: Bitcoin advocate and billionaire is in the news again after he claimed that people should bow down to Satoshi Nakamoto, and thank him for the creation of the world’s premier cryptocurrency.

Read more at https://bit.ly/2ujAEmj

Vitalik Buterin on ICOs: Buterin, the creator of the world’s second largest cryptocurrency and smart contracts platform, Ethereum, claimed that ICO boom would have happened, regardless of the ETH platform

Read more at https://bit.ly/2FnOzwD

Cryptocurrency users surged in 2018: According to a report filed by Silvergate Bank with the United States’ SEC, despite the ongoing crypto-winter, the cryptocurrency user base shot up by 122% in 2018.

Read more at https://bit.ly/2UMWNF9





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Altcoins

Bitcoin SV surges by 6.84% in an hour; community speculates massive behind-the-scenes pump

Biraajmaan Tamuly

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Source: Pixabay

The cryptocurrency market has witnessed major price hikes over the past few weeks, with Craig Wright’s Bitcoin SV emerging as the market’s unlikely performer. The Craig Wright-backed virtual asset, which is supposed to follow Satoshi Nakamoto’s original idea, outperformed every top 10 cryptocurrency over the past week, recording a growth rate of 22.86%.

Source: CoinmarketCap

At press time, the coin had recorded a price hike of 6.84% over the hour, with the coin valued at $228. The coin was traded the highest on CoinBene exchange, where the trading pair of BCHSV/USDT gathered a volume of $96  million. The exchange was closely followed by ZBG exchange, where the trade accounted for 13.62% of the entire trading volume.

Source: Trading View

According to the chart released by Trading View, a massive green candlestick can be observed. The chart also indicated that at press time, the candles were charting over the Moving Average [MA]. This suggested that extremely high trading volumes were pegged with Bitcoin SV.

Many in the community have speculated that the surge might be due to a massive dump of the coin in the market, after the token hit stagnation since pumping by more than 247 percent recently. The aforementioned price pump pushed the price of the coin from $53.22 to $250.

Previously, it has been suggested that the major pump witnessed within the Bitcoin SV ecosystem might be laden with market manipulation, implying the participation of illicit entities in the conduct of a “pseudo-pump” of BSV’s market. Further, the de-listing of BSV by major exchanges such as Binance may have made it more susceptible to sudden price movements, according to some.

At press time, Bitcoin SV was positioned 8th on the cryptocurrency charts. Despite the pump however, historical trends suggest a major price correction may be in the offing too.





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