As March became April, let’s take a look back at this week’s top news stories from the forex, fintech and crypto worlds, in our best of the week segment.
Bitcoin Supply Reaches the Lowest Level in 3 Months
The trading week started with news that Bitcoin supply had reached its lowest level in three months.
The supply of the world’s largest cryptocurrency at leading digital exchanges has reached its lowest level in 2 years. Glassnode data indicates that long-term Bitcoin holders who bought the cryptocurrency during 2018 are planning to hold the digital currency for massive gains.
Read more on the Bitcoin supply levels here.
XRP Jumps after Ripple Acquires 40% Stake in Tranglo
The XRP price jumped nearly 5% after Ripple announced that the company had acquired a 40% stake in Tranglo, one of Asia’s largest cross-border payment firms. The San Francisco-based blockchain company is planning to expand RippleNet’s On-Demand Liquidity (ODL) service through the latest partnership.
According to the official announcement, Ripple aims to expand its services in Asia and the recent acquisition will play a major role in supporting the company’s existing corridors such as the Philippines. RippleNet’s On-Demand Liquidity (ODL) service uses cryptocurrency XRP to instantly send money and reduce working capital needs.
Read more on the Ripple Tranglo stake here.