The coronavirus epidemic, which emerged in Wuhan, China, also put the retail industry in a bottleneck. Stores that were temporarily closed due to curfews across Turkey began to suffer financial difficulties. Bernardo, one of the popular names of the glassware industry, applied for a concordat in 2018 due to financial difficulties. According to the news of Para Magazine, Bernardo went bankrupt as of 14.06 on May 18, 2021, with the decision of the Istanbul 1st Commercial Court of First Instance.

He got even more difficult due to the pandemic

According to the information received, the company has been in a more difficult situation due to its closed stores during the pandemic process. The company, which entered the process of financial difficulties in 2018, took the road to the court for concordat. The company had taken protective measures for the company during the said period, and then the restructuring process began. However, after the coronavirus epidemic that spread from China to the world, the company fell into an even more difficult situation. The number of sales points, which was 50, decreased to 24 in this process. According to the data on Bernardo’s official website, the number of stores has decreased to 8. Bernardo went bankrupt as of 14.06 on 18 May 2021 by the decision of the Istanbul 1st Commercial Court of First Instance. Istanbul 1st Bankruptcy Office was authorized regarding the liquidation procedures of the company. This department will handle the liquidation procedures. After the decision, Bernardo’s operating stores were also sealed by the Istanbul 1st Bankruptcy Directorate.

Ripple announced on its website that by selling $167.7 million worth of XRP in the first three months of 2018, sales increased by 83 percent compared to the previous quarter and by 2,400 percent compared to the first quarter of 2017.

Ripple has long had a close relationship with its technology XRP Ledger, with which it develops tools for enterprise businesses. The company also said that direct sales of XRP were $16.6 million, down 17 percent from the previous quarter.

On the other hand, the cryptocurrency’s programmatic sales more than doubled, from $71.5 million to $151.1 million.

Ripple’s Head of Corporate Communications Tom Channick told CoinDesk that XRP sales He said that the company exceeded his expectations.

The total volume of XRP traded worldwide is 1. It reached $160 million, a marked increase of 68 percent in the quarter.

XRP’s prestige in the cryptocurrency market 1. increased in the quarter. The overall market volume increased from 5.3 percent at the end of 2017 to 6.9 percent at the end of March.

While the total market capitalizations of all digital assets were the same on November 24, 2017 and March 31, 2018, the share of XRP in market capitalization doubled to percent. It rose from 3.56 to 7.57 percent.

The price of XRP had risen from less than $0.25 to $3.84 in early January.. Since then, XRP has fallen sharply and dropped below $1.. Currently, the approximate value of XRP is $0.84.

Ripple’s first quarter report also touched on the negative impact of a global regulatory crisis on cryptocurrency prices, along with uncertainty about the future.

Ripple has released quarterly XRP reports since the fourth quarter of 2016.

The company’s chief cryptographer, David Schwartz, described the programmatic sales as follows:

“This sale is made by third parties. Ripple has no direct control over these sales and cannot adjust its timing in the short term.”

In contrast, direct sales are handled by XRP II, LLC, a registered and licensed money service company.. As the company has stated in the past, the main buyers are financial institutions.

Ripple put 55 billion XRP in commodity accounts in December to ensure the certainty of the supply of XRP at any given time.. The company owns approximately 300 million of these XRPs.. released in the quarter.

American crypto-enthusiast billionaire Mike Novogratz announced in a press release that he intends to establish a cryptocurrency-based commercial bank with his own savings. According to the plan, this bank will operate in four business areas: trading, ventures, asset management, and inquiry.

According to the statement, the Galaxy Digital Assets Fund has prepared a letter of intent with Bradmer Pharmaceuticals and First Coin Capital, thus creating a letter of intent with Galaxy Digital and First Coin will come together to establish the bank.

Galaxy Digital Assets Fund is the fund Novogratz invested in. Bradmer Pharmaceuticals, on the other hand, is a Canadian-based company founded to find a new treatment for brain cancer. According to this letter of intent, Bradmer will hold a minority stake in Galaxy Digital and change its name to ‘Galaxy Digital Holdings’.

Galaxy Digital has been declared a “full service digital asset bank”, according to the press release. It is expected to do business in four areas; trading, venture investment (as with ICOs), asset management and inquiry – the last one is closing the market search, writing white papers, architectural design, business and technical documenting, vendor selection and project management.

Novogratz is seen as the CEO of this new venture, and the press release revealed the names of eight more people who make up this team. Novogratz was the former CEO of Fortress Investment Group, and his interest in cryptocurrencies can be traced very closely. In a statement to CNBC in December, he said that Bitcoin could easily see $40,000 by the end of 2018.

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Payment technology company Circle announced that it plans to hire 100 people in Asia to expand its newly acquired Poloniex cryptocurrency exchange.

In an interview in Hong Kong, Circle’s co-founder and CEO ‘s Jeremy Allaire stated that the company will hire many people to provide services in South Korea, Japan, China and Hong Kong.

Goldman Sachs, Baidu and investment bank China International Capital Corp. According to Allaire, which has received $140 million in venture capital from major investors such as the company, the company is looking to diversify its offerings for Poloniex in the future.

Circle bought the Poloniex cryptocurrency exchange last month

“Long The future view is that every form of value on the planet will be a crypto token,” Allaire says. Allaire adds that it thinks Blockchain-based tokens and cryptocurrencies will continue to proliferate in the future.

Allaire also made it clear that Circle is trying to comply with local regulators, adding:

“We want to offer more presence to more markets and localize it to international markets. The most critically important thing is that we need to work with regulators on this.”

According to Bloomberg, the US-based company does not plan to raise additional funding this year. However, Allaire expects profits in the company’s second-year plans.

Circle, which was founded in October 2013, offers a variety of products, including mobile payments app Circle Pay and Circle Trade, with $2 billion per month in cryptocurrency transactions. On March 13, the company announced the launch of its crypto investment platform Circle Invest, which is now available to US citizens in 46 states.

Cointelegraph

Multibillionaire investor Trace Mayer stated that Bitcoin is currently experiencing a price correction and may add value to $115k later in the year.

The severe fall in Bitcoin prices in the past few days has put many investors in serious harm and brought many panic sales.. While some investors who think that there is no stability in the market, decide to withdraw their investments; Experienced analysts were united in the opinion that this was a serious buying opportunity.

Trace Mayer, now multi-billionaire investor, who recommended Bitcoin on websites when blockchain technology was still in its infancy, also spoke on the subject.. Stating that he expects a significant increase in the price of Bitcoin for the next 11.5 months, Mayer stated that the Bitcoin figure may exceed 115 thousand dollars by the end of the year.. Adding that this rise will not reflect the true value of the product, Mayer said:. There the price went from $7 to $266, then down to $90. Now it came from $ 700 to $ 20 thousand, and then it came to $ 9 thousand. Now, with the arrival of new investors and the involvement of Wall Street, I expect a very serious increase.”

After the hacking of the Mt.Gox exchange in 2013 Bitcoin, which experienced a decrease similar to the proportional loss of value it experienced, is trading around 12 thousand dollars at the time of this writing.

Wall Street Money Influenced Mayer’s Thought?

As a person who knows Bitcoin so well, these predictions made by Mayer were of course welcomed by Bitcoin investors.. In the press and social media, it was frequently spoken that the main thing that caused this comment was that Wall Street money would come into play.. With the opening of short and long-term positions, a buying frenzy is expected, while Bitcoin and many famous altcoins are expected to benefit from this.

Mayer said that the real value of Bitcoin is something between 9 and 14 thousand dollars states that. Speaking before Mayer’s statement and the big drop, Fundstrat investor Tom Lee predicted that if Bitcoin exceeds the $20,000 level before June, there may be a big price increase.

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Great news for Cardano (ADA) and Stellar Lumens (XLM), the popular altcoins of recent days. You can take a look at our news for the development that can accelerate the two altcoins that have achieved good output.

Great news for Cardano (ADA) and Stellar (XLM)

One of the best performing cryptocurrencies in 2021 was undoubtedly Cardano (ADA). Led by Charles Hoskinson, the former co-founder of Ethereum, Cardano has greatly increased its scaling potential after a series of updates and technical work. On May 7, 2021 (today), ADA broke the all-time record by hitting $1.75. In the chart below, we see the change in the ADA/USD parity.

Please See: The most asked question in the market: Bitcoin or Ethereum?

Stellar XLM, on the other hand, offers blockchain-supported solutions to banks and financial institutions in international fund transfers as an alternative to Ripple.. Stellar is headed by Chris Larsen, co-founder of Ripple.. Stellar also carries the Ripple vision. We see the change in XLM prices in the chart below.

There is a big European-based good news for Cardana (ADA) and Stellar (XLM), which have the vision of Ethereum and Ripple.. Börse Stuttgart, the 2nd largest stock exchange in Europe and Germany, announced that it will list Cardano and Stellar ETNs. In this way, Cardano and Stellar will be listed on a regulated exchange based in Europe.. European institutional investors can easily invest in Cardano and Stellar.

Please See Bank of England President and Elon Musk are warning the same

One of the stock exchange managers, Jürgen Dietrich made the following statements on the subject:

The interest in cryptocurrencies continues to increase. With ETNs, investors will be able to invest in Cardano and Stellar through exchange-traded securities.

Source

Singapore Monetary Authority’s (MAS) managing director Ravi Menon stated that the Cryptocurrency market will bounce back after the crisis.

Menon, He told CNBC on Monday, January 15th:

“What happened When the flames are extinguished after the crisis, I hope that deep and meaningful technologies associated with digital currencies and Blockchain will not be harmed.”

So far Singapore Central Bank needs to be wary of “money laundering” and other “potential risks” He took a dubious stance towards Cryptocurrencies, citing that. Despite this, MAS has yet to require any editing. Menon in an interview with Bloomberg in October 2017 said:

“So far I’ve seen no reason to issue ktokens.”

Bitcoin, the flagship of the cryptocurrency market, may be signaling a new attack with its rising transaction volume in recent days.. At least, according to Coindesk analyst Omkar Godbole, this is the case. Stating that the 14-day relative strength index (RSI) rose to 59.04, the highest level after September 4, the analyst said that levels above 50 imagine that the bulls have become active on that asset.< Stating that Bitcoin has entered the period with the highest bounce potential of the last two months among these indicators, Godbole pointed out that although many analysts question the efficiency of the RSI, the RSI indicator is the indicator that shows the most accurate results for Bitcoin so far.

Daily Chart

As can be seen in the chart above, Bitcoin managed to break above the 50-day logarithmic moving average and the symmetrical bullish triangle

The 5 and 10-day EMAs are also moving north and supporting the bullish formation.

In addition, Bitcoin is at the Bollinger band of 6,500 at the time of publication. If the leading cryptocurrency completes the day above $6,500, it can confirm the bull rally again.

The Coindesk analyst, stating that MACD and RSI also indicate an increase in Bitcoin, concludes his article with these notes; /p>

• Bitcoin’s eyes are on the bulls to take action for $6,800.
• A break above the 50-day simple moving average SMA of $6,642 will strongly confirm the bullish action.

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• The fact that the daily UTC closes below the 10-day EMA and below $6,400 will weaken the bullish movement.

Bitcoin, the leading cryptocurrency, is trading at $6,462 on Coinbase as of the time of publication.

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Finance and technology company Ripple doubled its XRP sales in the first quarter of 2021 compared to the fourth quarter of 2020. The latest quarterly report shows that. Ripple is constantly being criticized for lowering the price by selling XRP.

Ripple’s XRP sales have increased by 2 times

Ripple, He announced that the total XRP sales from the first three months of 2021 were $150.34 million.. This figure is 97 percent higher than the $76.27 million sales of the fourth quarter of 2020.

The company also explains the reason for increasing its XRP sales.. According to the statement, the increase is related to the increase in demand for RippleNet’s On-Demand Liquidity or ODL service. continued to sell to support ODL and key infrastructure partners, as part of providing increased XRP liquidity to improve the. Thus, it eliminates the need for upfront financing and enables instant global payments.”

The first quarter of 2021 was incredible for the cryptocurrency industry.. Total market cap also approached $2 trillion for the first time.

Related – New tactic in Ripple case from SEC!

Ripple token volume is increasing

Ripple, which is rumored to go public, that is, to hold an IPO, has agreed to buy 40 percent of Tranglo, Asia’s leading cross-border payments specialist, to meet the increasing demand in ODL.. The partnership will help Ripple expand the reach of its services in the Asia Pacific region.. XRP volume was $148 billion in the last quarter of 2020.

Ripple states that 3 billion XRPs were released from escrow accounts.. Of these, 2.7 billion XRP were returned and placed in new escrow accounts in the first quarter.

GoinGecko states that there are currently 46 billion XRP tokens in circulation.. The total supply is 100 billion tokens.. So the company still controls 54 percent of the total supply.

How about the XRP price?

The report also states that whales accumulated XRP in Q1. Accordingly, the number of accounts holding XRP between 1 and 10 million tokens increased by 6.3 percent.. Because in three months, the XRP price also gained 154 percent.

XRP is currently trading at $ 1.53 with a decrease of 11 percent.. Ripple recorded the top of 2021 at $1.92 on April 14.. But it’s still far behind the $3.4 ATH it saw in January 2018.

Source