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CryptoCompare and Cryptosheets have joined forces to make crypto market data more accessible, making it easier for traders, investors, analysts, and more to access institutional-grade data on Microsoft Excel or Google Sheets.
Bitcoin’s hashrate has started growing about one month ahead of the cryptocurrency’s upcoming halving event, recovering along with its price.
China has made it clear it will be pursuing a digital version of its fiat currency, the yuan, in a meeting that outlined the central bank’s top priorities for the upcoming year.
Top stories in the Crypto Roundup today:
- CryptoCompare, Cryptosheets Join Forces to Make Crypto Market Data More Accessible
- Bitcoin’s Hashrate Bounces Back One Month Ahead of its Halving
- China Will ‘Undoubtedly’ Pursue a Digital Version of the Yuan, Says Central Bank
At the time of writing, bitcoin (BTC) is trading at $7,376.58 (4.55%) with a daily Top Tier volume of $3.87 bn. As for ether (ETH), it is trading at $172.87 (15.912%) with a daily Top Tier volume of $1.82 bn. The MVIS CryptoCompare Digital Assets 10 Index is currently tracking at 2,659.44 (9.31%).
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CryptoCompare, Cryptosheets Join Forces to Make Crypto Market Data More Accessible
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CryptoCompare and Cryptosheets, the world’s first real-time crypto data add-in Excel and Google Sheets, have joined forces to make cryptocurrency market data more accessible.
Cryptosheets has integrated CryptoCompare’s 73+ API endpoints, letting users access institutional-grade crypto market data with simple spreadsheet formulas. The accessible data covers historical price history, trading exchanges, benchmark indexes, orderbooks, and social activity.
Using CryptoCompare’s data, traders can, for example, use technical indicators on OHLCV data to help backtest and time trading strategies, while miners can pull in details on hashrate, block rewards, and hardware comparisons to calculate profitability.
Analysts and journalists can combine thee data to bolster their narrative with data, while professional portfolios managers can compare the performance of various crypto market segments using the institutional MVIS benchmark indexes.
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Bitcoin’s Hashrate Bounces Back One Month Ahead of its Halving
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Following the March 12-13 crypto market crash, that saw BTC lose about 40% of its value over a two-day period, the flagship cryptocurrency’s hashrate started plummeting, dropping from a 137 million TH/s all-time high to about 75 million TH/s over a short period,
As the price of bitcoin dropped, miners presumably started turning off their machines or moved to mine more profitable cryptocurrencies, but about one month ahead of the cryptocurrency’s halving event – where block rewards will drop from 12.5 ₿ to 6.25 ₿ per block – its hashrate bounced back. CryptoCompare data shows it climbed back to 123 million TH/s.
The cryptocurrency’s hashrate has seemingly recovered along with its price, has BTC bounced back from a $3,800 low to about $7,380 at press time. It’s worth noting BTC’s hashrate has risen significantly over the last 12 months, as it was at 46 million TH/s in April 2019.
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China Will ‘Undoubtedly’ Pursue a Digital Version of the Yuan, Says Central Bank
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China’s central bank, the People’s Bank of China (PBoC) has made it clear it’s still committed to creating a digital version of the country’s fiat currency, the yuan. In an April 4 notice, the bank wrote:
“The People’s Bank of China (PBoC) will undoubtedly further its research and development of the national digital currency with enhanced top-down design.”
The notice is a summary of the 2020 National Currency Gold Silver and Security Work Video and Telephone Conference, convened by the central bank’s vice-governor. According to CoinDesk, one of the meeting’s goals is to lay out the top priorities for the bank in the coming year, and this was the third time a digital yuan, or Digital Currency Electronic Payment (DCEP), was mentioned at the meeting.
The language used this time, however, is believed to have shown a firmer stance on the project than before. It comes amid the coronavirus pandemic, which according to researchers at the Bank of International Settlements (BIS) could encourage digital payment adoption and encourage central banks to look deeper into digital currencies.
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Crypto.com’s CRO is the Daily Mover
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This week’s Daily Mover featured asset is Crypto.com’s CRO token, which has seen ts FCAS go up 2.36% in the past month, driven by an 8.87% rise in User Activity. Its Market Maturity rose 2.55& while its Developer Behaviour remained stable.
Crypto.com is a Hong Kong-headquartered firm launched with the mission to “accelerate the world’s transition to cryptocurrency.” It’s set to be accomplished via various endeavors, with Crypto.com aiming to be a one-stop-shop for the lifecycle of a cryptocurrency user through its ecosystem.
CRO’s rise in User Activity and Market Maturity comes shortly after Crypto.com began shipping its MCO Visa card to Europe, its largest market, and after the team launched “Crypto.com Private,” a package of premium rewards for paid MCO Visa cards. Crypto.com has also joined the USDC ecosystem, offering users up to 12% p.a. for holding the stablecoin, and is expanding to India.
The project appears to be on the right track to mass adoption, doing what it can to bring crypto into everyday use. The company’s CEO Kris Marszalek has revealed that transaction volumes more than doubled between December and February, and that app downloads hit all-time highs in the same period.
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State of the Crypto by Top Tier Exchange Volume
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