Summary:
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The number of Bitcoin ATMs increases to 3,500
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The Indian state wants to build the ‘blockchain district’
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Ripple (RIPPLE on xStation5) bounces higher from the $0.40 handle
Tuesday starts a little more positively than Monday as some major cryptocurrencies are trading higher on the day. Having said that, one can consider beginning of the week as rather calm. The capitalization of the cryptocurrency market stands subtly below the $255 billion mark whereas the capitalization of altcoins sits around $133 billion. Today’s major topics concern a new Indian state government’s idea as well as another milestone reached by Bitcoin ATMs.
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BITCOIN decline was stopped by the $6850 handle. The virtual currency is trading slightly higher, around the $7000 mark at press time. Do notice that the coin managed to break out of the downward price channel therefore further advance may be on the way. Source: xStation5
Firstly, let’s move to India where one state government wants to create the ‘blockchain district’. The government of the Telangana state is cooperating with major international IT company, Tech Mahindra, to build the mentioned district in the state’s capital city of Hyderabad. According to Economic Times report, new district will be an incubator for domestic blockchain startups and companies. The new district will be the first such blockchain-business oriented area in the country.
ETHEREUM is returning again and again to the $400 handle. The cryptocurrency is also fluctuating around this level at press time. The mentioned zone (an orange area on the chart) seems to be a key technical roadblock for extended downward movements. Source: xStation5
Secondly, let’s mention a new milestone Bitcoin ATMs have reached recently. According to Coinatmradar, the number of Bitcoin ATMs surpassed the 3,500 mark. To be more precise as much as 3,503 Bitcoin ATMs has been set up all over the world. The majority of them is localized in the North America (around 2,600 machines). Let us recall that in early-2017 only 1,000 of such machines existed. As we can see, the number of Bitcoin ATMs is rapidly increasing along with the interest in the digital currencies.
RIPPLE has diverged from other major cryptocurrencies as the digital currency declined significantly from $0.43 to below $0.40 yesterday. Today, the cryptocurrency recoups some losses, but the advance is not too substantial. The coin is moving below its 8- and 33-period moving averages on the H4 interval (yellow and purple lines on the chart). Source: xStation5
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