Funds outflow from Bitfinex amounted to $585 million

May 1, 2019   Bitcoin

Cryptocurrency assets recovered on Tuesday after falling over the weekend. The price of Bitcoin rose to the resistance level of $ 5,300, Ethereum reached $ 159, and XRP rose to the level of 0.3100.

According to some estimates, the net outflow of funds from the Bitfinex cryptocurrency exchange in recent days amounted to 585 million dollars. The reason for the active withdrawals of the funds was the US government charge of using the Tether token to cover losses. Bitfinex is the second largest cryptocurrency marketplace in the world, and its bankruptcy can lead to serious negative consequences for the entire industry. Yesterday there was information that Bitfinex is going to release its own token and raise a billion dollars in Tether. In addition, Bitfinex CFO said that the company needed only a couple of weeks to resolve all financial problems.

The second largest stock exchange in the world, the Nasdaq, will begin to display an index based on the third-largest digital currency XRP. The launch of the index on the Nasdaq today. The XRP Liquid Index will be based on the spot prices of the XRP token expressed in US dollars. Information about the market value of the asset will be delivered in real time from the most liquid markets. At the moment, these are Bitfinex, Bitstamp and Poloniex platforms, and later Kraken and Coinbase will be added to this list. In February, the Nasdaq has already launched similar indexes based on Bitcoin and Ethereum. In addition, information has recently appeared that the Nasdaq is presumably testing the possibility of trading in Bitcoin derivatives.

In our forecast for Wednesday, we expect further Bitcoin growth to the levels of 5330, 5350 and 5380 dollars, strengthening of Ethereum to 160, 162, 165 dollars, and XRP growth to the levels of 0.3125, 0.3150 and 0.3200 dollars.

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