Connect with us


Ripple on the Forbes most innovative fintech list; six other blockchain firms also make it to list




Ripple on the Forbes most innovative fintech; six other blockchain firms makes it to the list
Source: Unsplash

The fourth edition of the coveted list – 2019’s the 50 Most Innovative Fintech Companies, was marked by the show of six cryptocurrency and blockchain oriented companies, including San Francisco-based cross-border payment major Ripple.

The looming crypto winter with all the digital assets struggling in an incessant bearish fever, couldn’t sway Ripple’s dominance in the space.

Talking about the blockchain tech companies on the list, the Forbes blog stated:

“Going forward, the blockchain selections from this year’s Forbes Fintech 50 2019 picks will undoubtedly form some unusual alliances as they evolve past competing against other blockchain startups, to competing in mainstream finance against long-established players.”

Ripple has managed to leverage XRP’s efficiency to bolster the cross-border financial settlement processes. The Forbes report further states that Ripple is all set to supersede SWIFT, the global messaging service provider.

Ripple secured a massive $94 million in a funding round led by IDG Capital, SBI Investment, Santander InnoVentures, and others recently. The payment network is now worth $5 billion and has 200 RippleNet customers, including Bank of America and American Express under its hood. Furthermore, many of the banks are ready to use Ripple’s payment solution, xRapid, which would have a huge impact on the cryptocurrency XRP.

Moreover, Ripple’s strategic partnership with R3 and Japan’s SBI Holdings has further made Ripple the leading payments company in the cryptocurrency and blockchain space

The other crypto ventures that made it to the list are:

Axoni, the New York-headquartered firm which renders distributed ledger tech and capital market services for various financial establishments. This capital market tech firm utilizes the blockchain platform to provide solutions to its clients. The latest funding round was even visited by Goldman Sachs, JPMorgan and others, where the company scored $59 million.

Bitfury, the Netherlands-based full-service blockchain tech firm providing hardware and software solutions to safely propagate assets across the network, has also made it to the list along with Boston-based global crypto finance firm, Circle. The other two firms to surface in the Forbes list were New York-based cryptocurrency exchange Gemini and California-based exchange forum Coinbase.

A Twitter user, @DupelessisTjaard, commented:

“@izakaminska : Not too shabby for a company with…how did you put it?.. “Bad business model and based on bad code” Did I get that right ? Great work @nbougalis”

Subscribe to AMBCrypto’s Newsletter

Follow us on Telegram | Twitter | Facebook

Chayanika holds a Journalism degree and is currently working with AMBCrypto. She is inquisitive about everything that the Blockchain Technology has to offer.


Bitcoin [BTC]: King coin’s Golden Cross confirmed; Greenspan hints at bullish market




Bitcoin [BTC]: King coin’s Golden Cross confirmed; Greenspan hints at bullish market
Source: Pixabay

Bitcoin’s much-awaited Golden Cross, which many analysts claimed will lead to a resurgence of a bullish market, has been confirmed. The intersection of the 200-day moving average and 50-day moving average, which indicates the Golden Cross, was achieved over the past few hours.

Earlier today, the top cryptocurrency saw a massive rise after days of sideways movement. Bitcoin’s ascendance saw it break the $5,350 resistance level, which eToro’s Mati Greenspan had previously suggested will consolidate “buying pressure.”

Source: TradingView

Additionally, a major psychological level of $5,500 was also surpassed less than three weeks after Bitcoin broke the $5,000 mark.

The Golden Cross theory holds credibility among analysts in the cryptocurrency realm as it infers that the coin’s average price is above its 200-day equivalent. For the first time in over a year, the cryptocurrency market has seen its 50-day MA move above the 200-day MA, which according to many is a sign of a bullish market.

On the opposing side of the Golden Cross indicator is the Death Cross, where two indicators cross over into a bearish market i.e. the 200-day MA moves above the 50-day MA. The Death Cross manifested in April 2018, after the prices went into a free fall following the December 2017 high.

In April 2018, BTC was priced at just over $7,000, following which it lost more than 50 percent of its price by the end of the year. The price of the king coin has recovered exceedingly well in 2019 however, winning back almost 50 percent of its lost value.

Many analysts, including Greenspan, agree that the crossing of the two moving averages is a clear testament to the return of the bull market. Although he didn’t quite use those words, Greenspan tweeted,

“Ladies & Gents… The Golden Cross!
Bitcoin’s 50-day moving average (gold) crossing above her 200-day moving average (blue). 📈
This is yet another sign that we’re back in a🐂market. 🚀🌛”

However, in an exclusive interview with AMBCrypto last week, Greenspan had stated that the Golden Cross theory is a “lagging indicator,” as the Death Cross was last seen in April 2018, months after the market took a bearish turn.

In his view, the 200-day moving average is the key indicator. On April 2, Bitcoin broke this mark for the first time since March 2018, by recording a massive 17 percent daily gain and rising above $5,000.

Based on historic price changes with reference to the Golden Cross, the last time the 50-day MA soared above the 200-day MA, price of Bitcoin rose by over 8000 percent from $246 in October 2015 to almost $20,000 in December 2017. Given past market movements, the current market scenario, and the optimism in the air, the Golden Cross may just have initiated the Bitcoin bull market.

Subscribe to AMBCrypto’s Newsletter

Continue Reading