🗞 Daily Crypto News, April, 16th💰

Welcome to the Daily Crypto News: A complete News Review, Coin Calendar and Analysis. Enjoy!

🗞 Market Wrap: Bitcoin Stuck Around $63K as COIN Hype Loses Steam

Bitcoin’s 24-hour range: $61,400.58-$63,464.66 (CoinDesk 20)

BTC trades above its 10-hour and 50-hour averages on the hourly chart, a bullish signal for market technicians.

The excitement around Coinbase’s direct listing appeared to be short-lived and bitcoin’s price movement appears to be stuck within the same range as a day ago when the big U.S. cryptocurrency exchange’s shares started trading on Nasdaq.

Coinbase shares (NASDAQ: COIN) soared to as high as $429.54 in its first hours of trading on Wednesday but closed at $328, below the initial opening price at $381.

The deflating passion was reflected Thursday in bitcoin’s spot trading activity: The daily spot trading volume from eight crypto exchanges tracked by CoinDesk dropped substantially, to below $2 billion, from near $5.5 billion on Wednesday.

Ether and altcoins

Ether’s 24-hour range: $2,316.67-$2,486.87 (CoinDesk 20)

Ether trades above its 10-hour and 50-hour averages on the hourly chart, a bullish signal for market technicians.

🗞 Elon Musk 'Moon' Tweet Sends Dogecoin Flying High Again

Elon Musk loves tweeting about Dogecoin.

When he does, the price tends to go up.

DOGE is at an all-time high of $0.18.

Reminder: Correlation does not imply causation. Unless, of course, you run the world’s most famous electric car company, have 50 million Twitter followers, and can’t help but make optimistic statements about the world’s best-known memecoin.

Yes, Elon Musk is tweeting about Dogecoin. Again. And now the price of DOGE is going up. Again.

The tweet came right around when Dogecoin reached a new all-time high of slightly more than 14 cents. Immediately after Musk’s tweet, Doge mellowed to a downright chilly $0.13 then shot back up this morning to over $0.18. (Some people start their day with a latte while checking The Wall Street Journal for financial advice; others read Elon tweets and chug a Red Bull.)

🗞 Why is XRP seeing a monster rally when Ripple is worth just $3B on the secondary market?

The equity of Ripple, the company that builds the infrastructure around XRP — the digital asset used by networks like RippleNet to process cross-border payments — is reportedly trading at $2 to $3 billion in the secondary market.

Yet, the XRP holdings of Ripple are reportedly worth $70 billion, which is many times higher than the valuation of the firm’s equity

“Ripple equity is ‘trading’ in secondary market at $2-3bn valuation. The $XRP on their balance sheet is worth approx $70bn. One price seems wrong. If $XRP price is saying settlement coming, the equity is crazy cheap. If not, the token seems expensive. Thoughts?”

So, is XRP undervalued? Not exactly

According to Leonidas Hadjiloizou, a long-time cryptocurrency researcher, XRP that is locked in Ripple’s balance sheet in escrow is likely not priced into Ripple’s equity.

What is behind the XRP rally?

Throughout the past two weeks, the main catalysts for the 160% rally came from victories in the company’s legal battle. Ripple lawyers were granted access to internal SEC discussion history regarding cryptocurrencies, and a court denied the SEC the ability to disclose the financial records of two Ripple execs, including CEO Brad Garlinghouse.

“The reason this happens periodically is because there are a bunch of quant funds out there that play the convergence trade between $BTC and a handful of liquid alts. Whenever there alts look cheap relative to $BTC, they pile in. When they look expensive, they rotate back to $BTC. No fundamentals involved so don’t try too hard to rationalize the moves. This strategy has proven effective over time and there are enough managers playing this that it becomes self-fulfilling and keep recurring.”

🗞 Jim Cramer cashes out half his 'phoney money' Bitcoin to pay off mortgage

Business TV personality and converted Bitcoin proponent Jim Cramer has sold half of what he calls his “phoney money” Bitcoin portfolio to pay off his mortgage.

In December, Cramer said he bought more around the $17,000 price range, although he didn’t reveal how much.

The TV personality returned to Pompliano’s podcast on March 22 to thank-him for the encouragement, explaining that he has since pulled out his initial investment and is now playing “with the house’s money,” and that he’s “never going to touch it.” That obviously hasn't lasted.

Although he didn’t reveal how much his Bitcoin portfolio was worth, according to the cryptocurrency’s performance, it could have been around $2.4 million.

🗞 Daily Crypto Calendar, April, 16th💰

Nuls (NULS)

#NinjaSwapApp Joins Nuls SCO Program and Staking Goes Live.

Hoge Finance (HOGE)

"BigONE lists HOGE with two trading pairs: HOGE/USDT & HOGE/ETH."

Swipe (SXP)

"The next #Swipe Ignition sale will be held on Friday April 16th at 00:00 UTC on the @SwipeWallet App featuring 50% off a $1m..."

Stater (STR)

"Stater Lydian lending platform for NFTs, Mainnet Update is to go live and move our product from Rinkeby to Mainnet."

Skycoin (SKY)

Skyimager is being updated along with Skybian to support more board configurations, plus bug fixes and enhancements like auto-peering WiFi.

➡️ Youtube
➡️ LBRY
➡️ Twitter
➡️ Hive
➡️ Publish0x
➡️ Den.Social
➡️ Torum
➡️ UpTrennd
➡️ Read.cash
➡️ Spotify

➡️ Be paid daily to browse with Brave Internet Browser
➡️ A secure and easy wallet to use: Atomic Wallet
➡️ Invest and Trade on Binance and get a % of fees back

➡️ Check out my video on Unstoppable Domains and get 10$ off a 40$ domain purchase

➡️ Get 25$ free by ordering a free Visa Card on Crypto.com using this link or using this code qs4ha45pvh

20% of this article rewards wil go to the @hodl-fund account in order to support HODL Community Initiatives.

Find out more about HODL Community: Crypto Social Community and by following our community account @hodlcommunity

Helps us by delegating to @hodlcommunity

If you would like to delegate some HP to our community and support us; we give you back 90% of the curation rewards on a daily basis ! APR > 12% !

500 HP - 1000 HP - 2500 HP - 5000 HP