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๐Ÿ—ž Daily Crypto News, April, 30th

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Mr. Crypto Lemon ๐Ÿ‹
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  • 3 Key Factors Why Bitcoin Price Exploded to $9.4K Overnight;
  • Telegram Caves to US Regulators: Delays Blockchain Launch, Offers to Return $1.2B to Investors ;
  • Italians Are Now the Biggest Crypto Believers, Brits - The Most Skeptical;
  • Cryptocurrency Trading Surges in Malaysia as Lockdown Cripples Economy;
  • CZ: Charity and Stablecoins Drive Meaningful Crypto Adoption ;
  • ๐Ÿ—ž Daily Crypto Calendar, April, 30th ๐Ÿ’ฐ
  • Bitcoin Trading Update

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

๐Ÿ—ž 3 Key Factors Why Bitcoin Price Exploded to $9.4K Overnight

The Bitcoin (BTC) price increased from $7,700 to $9,500 overnight, increasing by 23%, according to Coinmarketcap, in less than 24 hours.

The three main factors that catalyzed Bitcoinโ€™s recent rally are record-high spot exchange volume, a breakout above historical resistance levels, and a noticeable rise in institutional demand.

Spot exchanges drove Bitcoin to $9,500, not the futures market In crypto, the term spot exchange refers to a platform that facilitates fiat to crypto trades. On Binance and Coinbase, for instance, users can trade Bitcoin with USD or stablecoins like Tether (USDT) without leverage.

The demand for Bitcoin on Coinbase reached a point where the exchange could no longer handle user activity for a temporary period.

๐Ÿ—ž Telegram Caves to US Regulators: Delays Blockchain Launch, Offers to Return $1.2B to Investors

Messaging app Telegram postponed the launch of its TON blockchain for a second time on Wednesday, pushing the new go-live date to April 2021 and triggering a costly clawback clause in its agreement with token-sale investors.

According to a letter to investors obtained by CoinDesk, Telegram is offering to return up to 72% of each investor's stake. The terms were agreed upon when Telegram first postponed TON's launch in October, following a lawsuit from the U.S. Securities and Exchange Commission (SEC) charging Telegram with running an unregistered securities sale that raked in $1.7 billion in 2018. At the time, Telegram set a revised launch deadline of April 30, 2020.

The company lost an initial court battle with the SEC, with a U.S. judge ruling that Telegram can't launch its blockchain or issue its forthcoming "gram" tokens until the case was resolved. On March 24, the initial preliminary injunction was left in place.

On Wednesday, however, Telegram floated another option for those investors who choose to forgo their 72%: They can lend their investment to Telegram until this time next year.

๐Ÿ—ž Italians Are Now the Biggest Crypto Believers, Brits - The Most Skeptical

Confidence that cryptocurrencies will still exist in 2030 is slightly increasing in Europe, with two-thirds of surveyed Europeans believing this to be the case, finds a new study by crypto exchange bitFlyer Europe. Italians believe in the crypto survival the most, and British the least.

The exchange has just published the results of its yearly Crypto-Confidence index, the 2020 edition, comparing them with the results of the first poll conducted in 2019. Per the report, the index was built from a consumer poll of 10,000 respondents across ten countries in Europe. Its purpose is to show the levels of confidence in European populations when it comes to the major question of whether digital financial assets will exist in a decade from now.

However, given that the poll was conducted in March, this year has brought another factor into the mix, which couldn't have been previously predicted - the coronavirus pandemic. It caused great instability in the value of both traditional and new assets.

๐Ÿ—ž Cryptocurrency Trading Surges in Malaysia as Lockdown Cripples Economy

Cryptocurrency trading in Malaysia has surged as the country endures an extended lockdown, costing its economy an estimated $550 million a day.
Regulated cryptocurrency exchanges are reporting substantial growth in trading volumes and new users as people seek โ€œa good store of value in difficult economic times.โ€

Increased Crypto Trading Volumes and New Users

Interest in cryptocurrency has grown significantly in Malaysia amid the extended lockdown restricting travel and nonessential businesses. The country estimates that 2.4 billion ringgit ($553 million) are lost each day that businesses remain shut due to the coronavirus pandemic.

๐Ÿ—ž CZ: Charity and Stablecoins Drive Meaningful Crypto Adoption

Speaking at Virtual Blockchain Week (VBW), Binance founder and chief executive Changpeng Zhao (CZ) argued that stablecoins and charity initiatives can drive meaningful cryptocurrency adoption.

CZ also discussed Binance Academyโ€™s work with Chinese government institutions on blockchain projects and revealed that he hopes Binance can influence the shape of the countryโ€™s regulatory strategy

Crypto charity programs drive adoption

During his โ€˜fireside chatโ€™ with VBWโ€™s hosts, CZ asserted that crypto-based charity programs are driving meaningful cryptocurrency adoption worldwide.

๐Ÿ—ž Daily Crypto News, April, 30th๐Ÿ’ฐ

  • Ravencoin (RVN)

"Ravencoin will be changing its mining algorithm in April, 2020 (exact date not yet chosen). We will be forking to a progpow variant..."

  • ABBC Coin (ABBC)

"The Claim #adn Airdrop service will be available until the end of April 2020."

  • OneLedger (OLT)

"Hence, the team has made a strategic decision to schedule the Kainos launch for April 30, 2020."

  • Skycoin (SKY)

"The launch will roll out over two months beginning in April, giving current Skyminer operators time to upgrade to Mainnet."

  • Bitpanda Ecosystem Token (BEST)

"Staying true to Bitpandaโ€™s vision paper promise, we will then facilitate quarterly burns on every last Thursday."

Bitcoin Trading Update by my friend @cryptopassion

Here is the chart of my last analysis :

Here is the current chart :

This is again a nice proof that you can never be sure of what the market has in mind. It was obvious that the market was preparing a big move and I was warning you since several days but I was more thinking it would be a drop and the market decided the opposite. Enjoy the nice up and let's hope it will trigger all the altcoins.

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