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XRP to Benefit from VeChain's Partnership with Bitrue Exchange

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Mon, 02/24/2020 - 17:58
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  • VeChain has made an announcement about its major partnership with XRP-friendly Bitrue exchange

Cover image via U.Today
Contents

The VeChain Foundation, a non-profit organization behind one of the leading blockchain platform, has joined forces with cryptocurrency exchange Bitrue through its strategic partner and advisor CREAM. 

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A slew of benefits for VeChain 

As part of its strategic partnership with CREAM, Bitrue will list the VTHO token, which is needed for recording data on the VeThor blockchain. A VTHO/BTC pair will go live on Feb. 24. The token will be distributed on a weekly basis.

Bitrue will start supporting tokenized projects that are part of the VIP180 ecosystem. On top of that, Bitrue will also offer 'exclusive benefits' for X node holders.    

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Bitrue CEO Talks Future xRapid Partnership After Promising to Add XRP-Based Trading Pairs - READ MORE

Driving blockchain adoption 

In its statement, CREAM claims that VeChain and XRP are both focused on developing enterprise-level use cases for blockchain technology. Bitrue was able to spot "the overlap" in these two projects, which prompted it to embrace VeChain in early 2019. 

“Bitrue has been continually impressed by the growing adoption of the VeChainThor blockchain and appreciates the proactive approach that CREAM is taking to strengthen both the CREAMethod and VeChain ecosystem," Curis Wang, CEO of Bitrue. 

Bitrue is one of the most XRP-friendly exchanges. Back in December, it expanded the number of trading pairs with the third biggest cryptocurrency, bringing their total amount to 77.  

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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  • A lone whale was able to move the BTC price by more than $400 on the Kraken exchange

Cover image via stock.adobe.com
Contents

The Bitcoin price briefly surged to €6,190 (about $6,800) on Kraken after a lone whale bought more than 1,000 BTC.

At press time, the benchmark cryptocurrency is changing hands at $6,469 on the exchange.  

Kraken
image by reddit.com

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One Percent of Crypto Whales Control More Than Half of Total Bitcoin Circulation Supply: Report - READ MORE

Whales pull all the strings 

While it's tempting to assume that a major whale has decided has reentered the market after BTC's disastrous performance in March, deep-pocketed holders are prone to manipulating prices to make easy money. Hence, traders should be cautious not to appear on the wrong side of another sell-off.    

As reported by U.Today, there was a theory that the massive April 2 pump that kicked off the glorious 2019 rally was orchestrated by one major player who took advantage of low liquidity on numerous exchanges to pump the price. 

Back in June 2019, a savvy Coinbase user sold $213 mln worth of BTC and bought back the whole thing shortly after to earn a whopping $10 mln in practically no time.  

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Real Reason Behind 10 Percent Bitcoin (BTC) Price Crash Revealed by Analysts - READ MORE

A $328 mln Bitcoin transaction  

In the meantime, Whale Alert, the service that tracks large transactions across multiple blockchains, has spotted a mammoth-sized Bitcoin transaction that is worth more than $328 mln. 

However, it appears to be an internal transfer, which means that it will not affect BTC's price action. 

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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