Western Union Tests Ripple, Bitcoin Crosses $4000 on Bitfinex, and Litecoin Bulls Target $60 – The Daily Hodl



 

Bitcoin Testing $4,000

Bitcoin is trading at just over $4,000 on leading cryptocurrency exchange Bitfinex, at time of publishing. The threshold is considered a critical resistance level for BTC.

Bitfinex Bitcoin Trading
Source: Bitfinex

Over the past 30 days, Bitcoin has traded as low as $3,626, according to data compiled by CoinMarketCap.

With all eyes on $4,000, Bitcoin bulls are waiting for a breakout to add momentum to a number of recent advancements in the crypto space, including the launch of Fidelity Digital Assets and the Invesco Elwood Global Blockchain ETF.

Litecoin Surges, Targets $60

Litecoin’s big 2019 run continues. The fourth largest cryptocurrency is up 4.93% at $59.29 at time of publishing, according to CoinMarketCap.

So far this year, LTC has rallied 94.75%, due in part to a recent announcement that the coin will implement Confidential Transactions to give users the option to protect their privacy.

Source: CoinMarketCap

Western Union Outlines Ripple Partnership

Speaking at the World Economic Forum in Davos, Western Union CEO Hikmet Ersek gave an update on the payment giant’s partnership with Ripple. According to Ersek, the company is not done exploring whether Ripple can optimize the company’s settlement system.

“The main reason for [the partnership] was optimizing our settlement system, to really manage the volatility. We tested with Mexico, one of our biggest corridors – US to Mexico, dollars to pesos. And you have to understand that we have a system of 137 currencies settling in seconds.”

“And with the efficiency that we have currently, we didn’t find the efficiency with Ripple yet. That doesn’t mean that that’s the wrong thing. We are working on that, and I think we are learning every day. As Lauren says, we did invest in several cryptocurrency companies and several blockchain companies. We are learning on that, but the system we currently have settling in 137 currencies in seconds has been very efficient, and we did not find an alternative yet.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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