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Tron’s [TRX] partner Cred joins BlockFi, Salt to fight the ‘JPMorgans of the world’

Akash Anand

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Tron [TRX]'s partner Cred joins BlockFi, Salt to go fight the 'JPMorgan's of the world'
Source: Pixabay

The roller coaster ride that the cryptocurrency market is on caused a lot of proponents in the space to come out in public and assert the industry’s dominance. The recently concluded Consensus 2019 was a common ground for many luminaries in the space such as Peter McCormack and officials from Salt Lending, Cred, and BlockFi.



The general consensus of the crowd was that the bear market was ending and that Bitcoin was “going back to its 2017 highs.” Ben Yablon, SALT co-founder, stated that the industry was back and that the main aim of many proponents right now was to provide support and ensure crypto goes mainstream. This discussion was followed by an official from Cred, a popular lending platform, stating,

“We need to create an ecosystem where the people are benefited rather than just one party getting all the rewards. There is also a need to compete against the JPMorgan’s of the world as 95 percent of their business is to generate income so that you get returns on the coins that you invested in. JPMorgan has $17 trillion dollars and they still ask us to pay. They have the money but they still use ours to lend to our neighbor and then charge them for it.”

Cred’s entry into the cryptoverse was highlighted by its recent partnership with the Tron Foundation, a partnership aimed at offering lending, borrowing services to the Tron ecosystem. Justin Sun, Chief Executive Officer [CEO] of the Tron Foundation, commented,

“TRON’s collaboration with CRED will allow participants in the TRON ecosystem to benefit by earning interest or borrowing against TRON denominated currencies. Cred has impressed us with their solid history of delivering returns, their strong understanding of risk management and regulatory expertise and their professionalism.”





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Bitcoin

Bitcoin [BTC] breaches $8k; gets ready for the bullish ride

Namrata Shukla

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Bitcoin [BTC] breaches $8k immediate resistance; braces self for a bullish ride
Source: Pixabay

The world’s largest cryptocurrency, Bitcoin [BTC] breached another immediate resistance at $8k and was valued at $8,084.49, at press time. BTC had been pumping for the past few weeks, pulling the coin from a slump and probably towards a new bull run. On May 19, the coin started rallying from $7252.58 and peaked at $8,102.

Source: Trading view

Source: Trading view

According to the trading view chart of BTC, it was being traded at $8,102. The market cap of the coin was noted to be $143.17 billion as the 24-hour trading volume reached $23.64 billion. In the past seven days, BTC pumped by 11.99% and it continued to rise by 10.64% in a day. The coin noted a growth of 1.56% in an hour.



BTC spiked by a staggering 12% over 10 hours taking the price of the coin from $7,252 to $8,155. The next resistance was marked at $8,300, after which $9k becomes an imminent target. In terms of trading volume, Bitcoin was highly traded on BitMEX exchange with VBT/USD pair and a volume of $4.22 billion was reported. The second place was noted by BW.com with BTC/USDT pair with a volume of $780 million. BitMart followed the exchanges as it noted a trading volume of $750 million with BTC/USDT pair.

As the demand for the coin rises in the crypto market, the searches on the Internet increased too. A report by Cryptoglobe noted that Google search for ‘Bitcoin’ as a keyword hit a high, yet again in 14 months. This surge was previously reported in February 2018 when the coin was trading between $8k and $11k.





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