Virtual currencies market rolled back again

February 8, 2019   Ethereum

The virtual currencies market rolled back again. The cost of Bitcoin dropped to $ 3,360. Price of Ethereum remained unchanged at around 105 dollars. XPR fell to a level of 0.2926 dollars.

The main cryptocurrencies are still falling in price in the absence of significant positive news. Reports to the market indicate the vulnerability of digital assets, which scares investors. For example, one of the recent events was the death of Gerald Kotten, the founder of the largest Canadian cryptocurrency exchange, Quadriga Gerald Kotten, after which investors could not withdraw more than $ 137 million from the trading floor because their accounts were blocked.

Xena cryptoexchange announced the launch of the first cryptocurrency derivative to the Gram token with a leverage that will be available to users on February 27. Investors of the Telegram Open Network project will be able to trade these tools until the actual Gram tokens reach the exchanges, using them to hedge risks. On February 18, Xena Exchange will also launch a section for crypto-derivatives trading, the first of which will be a contract for Bitcoin against the dollar. The ability to invest in cryptocurrencies through derivative financial instruments should attract traditional and institutional investors to the market, facilitating the flow of new funds, increasing trading volumes and reducing volatility.

Changpeng Zhao, the head of the exchange Binance, said that the site would work with Ripple to integrate xRapid payment solutions using XRP tokens. In the context of xRapid, Ripple has already established cooperation with the Bittrex, Bitso, Coins.ph and Bitstamp platforms in order to make transfers without having to open accounts worldwide. Scaling this solution will give XRP growth potential.

In our forecast for today we assume the continuation of the decline of the cryptocurrency market on Friday. Bitcoin can find support at the levels of 3340, 3300 and 3375 dollars. Support for Ethereum can range at $ 102, $ 100 and $ 98. Support levels for XPR can be $ 0.2910, $ 0.2895 and $ 0.2880.

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