Time to Exchange | Bitcoin Above $7,000
Written by tojukaka
Time to Exchange is a weekly publication that brings you market analysis and news from the TokenPocket ecosystem and the broader blockchain community.
TokenPocket is a multi-blockchain app that comprises of a wallet (TP Wallet), an exchange (TP Exchange) and a dApp browser, through which TP users can gain secured access to decentralized applications. TokenPocket currently supports Bitcoin, Ethereum, EOS, Tron, BOSCore, IOST, Cosmos and Jingtum. More blockchains and cryptocurrencies will be supported as time goes by.
This week’s edition of ‘Time to Exchange’ is filled with news from last week’s birthday celebrations, Bitcoin’s bullish outlook, TPT’s day of fame and some other news from the EOS ecosystem.
Market Analysis
Coinmarketcap.com 06/04/2020 10:05am
March was one of the most bearish months for Bitcoin in 2020 so far, but things are looking good for Bitcoin and the rest of the crypto markets in this new month. In the first week of April, Bitcoin maintained a bullish outlook and with the price still hovering around the $7,000 mark, we can conclude that the bullish outlook is not just April Fools.
Some Bitcoin analysts have stated that $6,500 to $7,000 is a significant area for Bitcoin to cross in order to signal a bullish trend. After ascending from the weekly lows (close to the $6,200), Bitcoin surpassed the $7,000 mark, going as high as $7,300 on Tuesday 2nd of April. At the time of writing this post, Bitcoin was trading at $7,046.
With the stress of the coronavirus pandemic on the global economy and the threat a looming global financial crisis, many are drawn to Bitcoin as a safe haven asset. These uncertain times is the perfect opportunity for Bitcoin and the larger crypto market to prove their role as a store of value.
News
TPT is the most popular cryptocurrency on Coinmarketcap.
TPT means TokenPocket Tokens, it is the native currency of the TokenPocket platform that gives holders special benefits and a robust set of use cases within the app.
On April 1st, Coinmarketcap pulled an April fool’s stunt by placing TPT above Bitcoin signaling that it was more valuable than Bitcoin and making it the most popular cryptocurrency on that day. However, it wasn’t TokenPocket tokens that Coinmarketcap was referring to as TPT but a fictional cryptocurrency called Toilet Paper Token. This was done to mimic a surge in the price of the valued commodity (toilet paper)due to the coronavirus-induced lockdown and quarantine.
After having a good laugh, we took the opportunity to write a blog post about the real TPT (TokenPocket tokens). You can read it by clicking on this link.
IOST 1st Anniversary
TokenPocket joined IOST to celebrate their first anniversary on March 31st with a tweet from the TokenPoket official account featuring Marcus Wu, CMO of Tokenpocket sending a goodwill message to the IOST community.
Happy Birthday TokenPocket
TokenPocket celebrated her second-anniversary last week. The event was filled with a lot of felicitation, freebies, discounts, and giveaways from IOST, BOS, and TokenPocket.
xNation.io — New Defi on EOS
EOS Nation has launched a new Defi product in partnership with Bancor called xNation. This app which will also be made available in Ethereum will enable users to earn trading fees by staking their funds in a liquidity pool. Users can launch a liquidity pool for any EOS token or stake their tokens to fund an existing liquidity pool.
Class action lawsuit against Block.one and other crypto companies
On April 3, Roche Freedman filed eleven class action lawsuits against seven crypto companies (which comprises of exchanges and token issuers) including Binance, BiBox, Bitmex, Kucoin, KayDex, Civic Status, Tron Foundation, Quantstamp, Protocol and Block.one. The lawsuits allege that the token issuers deceitfully created and distributed unlicensed securities to the exchanges.
Block.one responded to this by stating that although they are aware of the lawsuits, they are prepared to respond to any legal issues and that they have not received any claim. In 2019, Block.one reached a $24 million settlement with SEC for unregistered ICO.
#WeWearMasks
#WeWearMasks is a campaign by TokenPocket Foundation aimed at encouraging people to wear a face mask if they must go outside and protect themselves and their families from the coronavirus. Through this campaign TokenPocket foundation would be giving $5 subsidy to participants of the campaign. Read more…
Time to Exchange
Some crypto wallets have announced that there is an increase in the demand for Bitcoin and cryptocurrencies in the past weeks even as traditional markets were falling.
During this corona-induced lockdown, governments all over the world are bailing out bit organizations and doling out free money to people in order to “stimulate the economy”. The US government has approved a 2 trillion dollar stimulus that would enable US citizens to receive up to $1,200 free money.
What would people be doing with all these free monies? Robert Kiyosaki (author of “Rich Dad, Poor Dad”, a popular business/investment book) had some suggestions.
Source: Twitter
Robert stated in a tweet last week that the dollar is dying, that people should not save and that they should buy Bitcoin and precious metals instead so that they can be safe.
When governments start printing money excessively, it’s probably a signal that it’s Time to Exchange” your ‘fake money’ for true cryptocurrencies.
Looking for a place to buy, sell and safely store your cryptocurrencies? Look no further. TokenPocket provides a secure digital wallet for asset management. On the TokenPocket app, you can choose to use the non-custodial service that gives you full control of your cryptocurrency or the custodial wallet in the TPExchange. On TPExchange you can trade with high liquidity and convenience.
Registering on TPExchange is simple and can be done with a few clicks especially if you already have the TokenPocket app.
Start your journey of discovery
- Download TokenPocket from App Store or Google Play
- Go to [Discover] > [TPExchange]
