• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • About us
  • Write for us
  • Terms and Conditions
  • Privacy Policy
  • Disclaimer
  • Contact
  • All Posts
  • Advertise

TronWeekly

Crypto World News

  • Home
  • Education
    • Best TRON Wallets
    • Beginner’s guide to TRON
  • Opinion
    • Tron Tokens
    • Market Analysis
  • Industry
    • Tron Exchange
    • Project Review
  • Press Release
  • Advertise
  • About us
    • The Team
    • Editorial Policy
    • Write for us
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • Contact
You are here: Home / Archives for News / Altcoin News

Altcoin News

100,000 Bitcoins are Currently Locked on Ethereum, Should Ether be Worried?

September 20, 2020 by Utkarsh Gupta

Ethereum’s network has single-handedly changed the blockchain scenario in 2020. Well, it might not be that single-handed(More like DeFi handed), but its utilization has been off the charts. With the explosion of DeFi, the hype surrounding the development of ETH 2.0 and the overall price turbulence, has collectively put Ethereum under everyone’s attention.

Recent data from Etherscan also suggested that the number of daily transactions on the Ethereum network surpassed its previous high on September 17th, when the total number of transactions reached 1,406,000. The previous high was clocked in January 2018, with 1,350,000 transactions.

It is fair to say that the on-going development is largely due to the fact that DeFi applications have taken over, surmounting close to 9.70 billion in Total Value Locked(USD) at press time.

However, the growth of Ethereum is currently attracting the largest digital asset on its network as well.

Bitcoin on Ethereum reaches 100,000 locked units

Image

According to the above chart, the total number of Bitcoin currently locked on Ethereum has reached 100,000. While many observed it as a positive, certain proponents were crossed about its long-term implication both Ether and Bitcoin.

Longhash’s Kyle Torpey suggested that from a long-term perspective, it was bad for Ether but Eric Wall opined a balanced outcome. The former lead at Cinnober stated,

“It’s both good and bad. People still become inclined to invest in ETH when they see the activity/utility on the platform going up. Most wBTC on Ethereum aren’t for ethereans forgoing ETH for BTC, it’s for people looking to chase a DeFi yield on their bitcoin holdings.”

While too much change is necessarily a good thing, the rise of non-ETH tokens on Ethereum was indirectly detrimental to Ether’s economy, here’s why.

Rise of non-Eth token reduces Ether’s monetary functionality on Ethereum

It is definitely true that Ether is the base token for Ethereum and for all gas transactions the use case of Ether is predominant. However, with time, if Ether is only used for that particular reason while not being held by investors or traders, a period of under-development will definitely stunt its value.

Michale Saylor, CEO of MicroStrategy recently clarified his decision to invest in Bitcoin because of the very fact that the community defends the network from meaningless change. Bitcoin’s rigidity to stand by its original mode of functionality is a factor of trust. Its assurance to not alter its initial ideology is something that Ethereum lacks, which is now deteriorating Ether’s value.

Innovation is a ket factor of digital assets and Ethereum has definitely taken some major steps in the right direction over the past couple of years. However, the value of Ether might face redundancy over time, if more and more non-ETH tokens receive prominence on its own parent blockchain.

Filed Under: Altcoin News, Bitcoin News, News Tagged With: Bitcoin (BTC), DeFi, Ether, Ethereum (ETH)

Ethereum HODLers Want to Profit From DeFi Rather Than Trading on Exchanges

September 20, 2020 by Reena Shaw

Ethereum has managed to captivate the interest of the community. Especially over the past few months, the largest altcoin has been gathering momentum as it surged to levels not seen since September 2018. At the time of writing, ETH was valued below its resistance level of $400, despite this, the holders of the coin appeared to be optimistic.

ETH price could head skyward

This was evidenced by the consistent falling of Ethereum balances on centralized exchanges over the past few weeks. According to the crypto data provider, Glassnode, the figures for ETH balances on exchanges have dropped to the lowest levels in 2020.

glassnode 1 scaled

Since the beginning of the month, balances on exchanges took a sharp plunge from a little over 18,750K to approximately 16,750K, at the time of writing. This essentially implied that the Ether holders were now transferring their funds to cold storages or wallets rather than holding it on exchange wallets for the purpose of trading.

As holding sentiment rises, this could necessarily cause the volume on the market to drop, precipitating a rise in the value of the crypto-asset due to scarcity.

DeFi carnage heats up

w scaled

During the same time, ETH supply in smart contracts, on the contrary, has skyrocketed. This meant that the Ether users preferred to leverage the token gains by profiting from DeFi, rather than trading.

As DeFi boom intensified, several metrics on the Ethereum network climbed to elevated levels. For instance, Ethereum fees continued to hover around its ATH driven by the rising activity of decentralized finance The blockchain’s hash rate has also increased to levels unseen since 2018. This was indicative of a heightened market activity prompted by high supply and demand.

eth 7

Additionally, the figures for ETH locked in defi surged to a fresh ATH of 7.9 million. This could point towards a potential bullish price action for the coin as more ETH gets locked in DeFi platforms, there will be a decline in its supply, which in turn, could drive up demand and hence, its value.

Filed Under: Altcoin News, News Tagged With: Ethereum (ETH)

Tron, Litecoin XRP Technical Analysis on 20th September 2020

September 20, 2020 by Reena Shaw

Several cryptocurrencies were struggling to stay afloat near the resistance levels despite a rise of the collective market cap to $354 million. While a pullback might actually play out in the near term, a high sell-off, however, at this point appears to be highly unlikely.

Tron [TRX]

TRX 3 e1600591291990

On the network side, Tron has been exploring the burgeoning defi space most notably with Sesameseed and JustSwap. Despite these developments, TRX was down by 3.70% over the last 24-hours which drove its price to $0.0274 as it held a market cap of $1.96 billion and a 24-hour trading volume of $3.13 billion.

The red closing bars of Awesome Oscillator indicated the ongoing bearish momentum in the coin’s price. Chaikin Money Flow hovering below the zero-line further depicted an outflow of money from the coin market.

If the bears continue to have an upper hand, TRX’s already sluggish price could retest a crucial point of support at $0.0202 as the resistance level $0.0353 remained untouched.

Litecoin [LTC]

ltc 3 e1600591636473

Litecoin has so far failed to demonstrate a rally and a breach above $50-level of resistanceis yet to materialize despite several onchain-metrics pointing towards a bullish phase as well as developments on its network’s front. At the time of writing, LTC was up by a mere 0.13% over the last 24-hours as its price stood at $48.36. The coin recorded a market cap of $3.167 billion and a 24-hour trading volume of $1.69 billion.

After prolonged bearish pressure, the silver crypto could finally see the LTC bulls making a much-anticipated headway. This was evidenced by both Klinger Oscillator as well as MACD which underwent a bullish crossover.

Should this uptrend gain the necessary momentum, LTC could climb to its overhead resistance of $50.92 and subsequently target the recently breached level of $63 while the coin’s support remained firm at $41.32.

XRP

XRP 5 e1600591931925

As bearish pressure continued to mount on XRP, the coin was found to be trading at $0.249 after a minor surge of 0.35% over the past day. It registered a market cap of $11.24 billion and a 24-hour trading volume of $1.84 billion.

The dotted markers aligned below the XRP price candles depicted a bullish phase for the coin. The steady increase in the RSI which was now targeting the 50-median line further indicated a sentiment of decreasing sell pressure among the traders in the XRP market.

Filed Under: Altcoin News, News Tagged With: Litecoin (LTC), Ripple (XRP), TRON (TRX)

Binance Coin, Polkadot, Chainlink Technical Analysis On 19 September 2020

September 19, 2020 by Sahana Kiran

While every cryptocurrency except for Bitcoin was entering the red zone, the king coin surged its dominance to 57.5%.  The overall market capitalization was also seen depleting as it stood at $352.58 billion, during the time of writing.

Binance Coin [BNB]

Despite, the entry of several new coins with increased market cap, BNB continued to retain its position in the top ten with a market cap of $3.92 billion. During press time, the native currency of the world’s largest exchange, Binance was trading at $27.14. However, the coin was also seen plummeting by 1.25%.

download 9

The one hour chart for Binance Coin revealed the presence of bears as key indicators pointed at the same. The Chaikin Money Flow [CMF] indicator was way below the 0 revealing bearish sentiments. Relative Strength Index [RSI] also hinted a strong sell-off predilection as the RSI marker was below 50 median.

The intrusion of bears in the BNB market could further push the altcoin below a support level of $26.62.

Polkadot [DOT]

This fairly new coin turned heads as it soared up the crypto ladder and stood as the fifth-largest cryptocurrency with a market cap of $4.36 billion. At press time, the altcoin was trading for $5.12 with a 3.58% drop in its price over the last 24-hours.

download 10 1

As seen in the above 1-hour chart of DOT, the Parabolic SAR indicator formed dotted lines above the candlesticks hindering any possibilities of an upward breakout. Awesome Oscillator seemed to be in sync with the Parabolic SAR indicator as it formed red closing bars. This further indicated a bearish market. The altcoin recently went below a critical support point at $5.11.

Chainlink [LINK]

After being touted as a promising currency, LINK’s price recorded consecutive slumps. LINK stands as the eighth largest cryptocurrency with a market cap of $3.61 billion. During the time of writing, the altcoin was priced at $10.31 with a drop of 4.85%.

download 11 1

Despite its consistent dips, the LINK market had some hope restored as key indicators reported bull sightings. The MACD indicator prolonged its bullish crossover as the signal line remained below the MACD line. Klinger Oscillator also sided the bears as the indicator noted a bullish crossover.

Filed Under: Altcoin News, Market Analysis, News Tagged With: Binance Coin (BNB), Chainlink (LINK), DOT, polkadot

California-Based Blockchain Capital The Latest Addition To Libra Association

September 19, 2020 by Sahana Kiran

After receiving immense backlash from regulators across the globe, social media giant, Facebook, decided to delay the release of the Libra project. The project had previously assured to meet the regulatory requirements put forth by the regulators and the latest news suggests that the platform is at it.

Libra Association On-Boards Latest Member

The social media giant seems to be back on track with its Libra project as the Libra Association has been rolling out an array of updates pertaining to the project. On Friday, the Association welcomed Blockchain Capital, a San Fransisco-based venture capital company. The platform was rolled out back in 2013 and co-founder, Bart Stephens elaborated on his view about the company’s association with the Libra project. He added,

“We’re honored to join the Libra Association and believe deeply in the mission of creating a more equitable payment system. Leveraging blockchain technology to improve financial access and promote innovation has been at the core of Blockchain Capital’s portfolio strategy.”

After severe regulatory opposition from the SEC last year, several members of the Libra Association bid adieu to the project. Prominent platforms like, PayPal, Mastercard, Visa, Stripe, and several others exited the project. However, everything seems to be falling in place for the Association as it recently on-boarded, Temasek, an investment firm in Singapore, and Slow Ventures along with Paradigm.

Furthermore, just this week the Association hired, James Emmett a former HSBC Exec as the Managing Director of Libra Networks. This list goes on as the platform recruited several to spearhead the operations at Libra.

Dante Disparte, the Vice Chairman and head of policy and communications at the Libra Association was pleased with the latest alliance as he stated,

“As a member of the Libra Association, Blockchain Capital brings deep industry insight and a dynamic network of supporters as we work on building a blockchain-based payment system that supports responsible financial services innovation.”

Even though the Association released the updated version of the Libra white paper, the European Union recently asserted that the European Central Bank [ECB] was the only entity authorized to issue currencies. The French Finance Minister part of the meeting specifically mentioned the Libra project in his statement.

Filed Under: Altcoin News, Fintech, News Tagged With: Blockchain, Facebook, Libra

OKEx’s Jay Hao Accuses Binance’s CZ Of Endorsing Dubious DeFi Projects

September 19, 2020 by Sahana Kiran

The crypto-verse is home to thousands of projects, while many of them enter the market with the intention of making use of technology to contribute to the growth of the ecosystem, a few others aim at extracting money from people. These scammy projects are sometimes wrongly endorsed by prominent personalities of the crypto industry, Binance’s Changpeng Zhao seems to be the latest one to join the list.

OKEx CEO Calls Out Binance For “Irresponsible Behaviour”

Malta-based cryptocurrency exchange, Binance has been touted as the world’s largest crypto exchange following the array of developments and partnerships, the platform dives into. However, Binance’s quick-wittedness seems to have caused a problem, suggests Jay Hao, the CEO of prominent crypto exchange, OKEx. Recently, in an array of tweets, the CEO of OKEx called out CZ for endorsing certain scammy DeFi projects.

In his tweets, Hao pointed out that Binance Smart Chain [BSC] was an extremely centralized platform. The platform’s venture, BakerySwap reportedly caused protests across China and other places for collapsing in less than 12 hours. He tweeted,

1/Reminder to be careful when farming on Binance Smart Chain. As I said, it's managed by only one team & is not decentralized. Built on #BSC, #BakerySwap caused huge losses for many retail investors <12h after mining began, which led to protests against BSC in China & elsewhere. https://t.co/BVvXeANN2s

— Jay Hao @OKEx (@JayHao8) September 15, 2020

The DeFi boom is hard to miss, with several platforms pouring into space. Binance hopped onto the DeFi bandwagon by listing several DeFi tokens. Binance was quick enough to list SUSHI and Hao criticized Zhao, CEO, for doing so.His tweet read,

“Those financial losses are a result of blind trust in #Binance. Despite @heyibinance’s claims that projects on BSC must pass all security audits, $BAKE still plunged leading @cz_binance to delete his BakerySwap endorsement tweet ytd just like he did with #SushiSwap previously.”

Furthermore, labeling Binance’s latest move as “irresponsible” indicated that it depleted the trust of the crypto community and damaged DeFi ‘s reputation. Ironically, OKEx listed SUSHI on the same day as Binance. Hao added,

“Trust is hard to build but easy to tear down. For the sake of users’ interests & #Crypto development, pls stop these tricks and #BUILD the real #DeFi.”

Additionally, the DeFi space was seen recovering from its latest slump, despite the crackdown of several faulty projects. At the time of writing, a total of 9.36 billion USD was locked in the DeFi space with Uniswap prolonging its dominance by 19.10%

Filed Under: News, Altcoin News Tagged With: Binance, Changpeng Zhao, OKEx

Bitcoin, Tron, DASH Technical Analysis on 18th September 2020

September 18, 2020 by Utkarsh Gupta

The cryptocurrency market as a whole was a little bit erratic at the moment. With major altcoins displaying different trends, there was a sense of uncertainty in the charts. Bitcoin, Tron, and Dash followed separate market trends over the last day as the threat of another bearish pullback loomed large in the industry.

Bitcoin hourly chart

bitcoin hourly chart

While all the other assets underwent a drop in the past week, the king coin managed to keep its price position at the top of its recovery. However, the current position of Bitcoin feels very temporary at the moment. All the market indicators are hinting towards a correction at press time. Bitcoin‘s rising price has been coupled with the Relative Strength Index consistently declining.

It is a clear sign of a bearish diversion in the charts which will pan out towards a pullback. At the moment, Bitcoin was getting the support of the 50-day Moving Average but the Awesome Oscillator suggested that diminishing bullish momentum in the charts.

Bitcoin had a market cap of $202 billion at press time with a trading volume of $28 billion in the last 24-hours. With a minor growth of 0.43%, Bitcoin was valued at $10,958.

Tron hourly chart

tron technical analysis

With Tron, the past-day was relatively positive. A growth of 9.54% was exhibited, outperforming top assets in the 24-hour window. The asset also managed to sustain a position above the 50-Day Moving Average, which a positive sign in the short term. At the moment, Tron was ranked 15th in the charts with a market cap of $2.08 billion. Tron registered a high trading volume of $3.20 billion, indicating activeness in the ecosystem.

According to Chaikin Money Flow or CMF, the capital coming in Tron was more than the capital going out, as interest from traders showed promise. Bollinger Bands appeared to resemble a parallel flow, which might suggest that the volatility will remain stagnant over the next few hours.

Dash hourly chart

dash technical analysis

Lastly, Dash‘s price movement suggested extreme sideways movement over the past few days but the bearish undertone was evident. With a minor growth of 0.05% in the charts, Cardano exhibited a market cap of $707 million, coupled with a formidable trading volume of $591 million. At press time, Cardano was ranked 31st in the list of digital assets.

For Dash, the trend was slowly inclining towards a bearish nature, as the MACD line suggested a crossover with the signal line. According to Parabolic SAR, the trend indicated an increase of selling pressure as the dotted lines hovered over the candlesticks. The convergence of Bollinger Bands also suggested the fall in volatility, eliminating the chance of outburst towards the top.

Filed Under: Bitcoin News, Altcoin News, News Tagged With: Bitcoin (BTC), Cardano, TRON (TRX)

Libra Back On Track? Libra Association On-Boards Former HSBC Exec

September 18, 2020 by Sahana Kiran

The world had eyes on the crypto industry after the social media giant, and Facebook announced its entry into the crypto-verse with the Libra project. However, the regulatory hurdles came in the way of the Facebook venture and delayed the project. Despite halting the project, it seems to be back on track as the Libra Association continues to onboard more people into the project.

The Libra Association shared an announcement revealing the recruitment of James Emmett as the Managing Director of Libra Networks LLC. Emmett previously headed the HSBC Europe and will reportedly commence working with, Libra Networks, the subsidiary company if Libra Association from 1 October 2020.

Previously serving as the Chief Executive at the HSBC Bank in Europe, Emmett has been a part of the financial sector for the last 25 years. Putting his experience and knowledge into practice, Emmett hopes to make a real difference in the field. He added,

“[…]I am delighted to be joining Libra Networks with a mission to enhance financial innovation and inclusion and to deliver the operationalization of the network.”

In the announcement, the Association highlighted Emmett’s experience across Europe. The HSBC veteran was reportedly responsible for the launch of HSBC’s UK Wholesale Bank and operations across Continental Europe, Sub-Saharan Africa, and Bermuda.

The latest news comes as a response to the recent meeting held by the Finance Ministers of the European Union. A week ago, the EU released a statement stressing on how only the European Central Bank was authorized to issue currencies. Bruno Le Maire, the French Finance Minister even stated,

“[…]And this point, it’s something that cannot be jeopardized or weakened by any kind of project including the so-called Libra project.”

While the Libra project was already in troubled waters, this news caused further uncertainty of the project.

Additionally, Emmett wasn’t the only from HSBC that the Libra Association has bagged. The CEO of the Libra Association, Stuart Levey was previously serving as the Chief Legal Officer of HSBC.

Filed Under: Altcoin News, News Tagged With: ECB, Facebook, HSBC, Libra

Cardano [ADA], IOTA, Dogecoin [DOGE] Hold Fort as Bear Tries to Shake Up Crypto Industry

September 18, 2020 by Akash Anand

The cryptocurrency market’s performance over the past week has been slightly positive with bullish changes across prices and market caps. Although Bitcoin is yet to cross the $11,000 mark this week, investors were hopeful that it was setting a good precedent for the rest of the industry.

On Friday, the altcoin market displayed green across the board with some major altcoins pumping after extended time periods. Tokens like Cardano, IOTA, and Dogecoin stood the test of the bear by showing increases in prices and daily trading volumes.

Cardano

The Charles Hoskinson co-founded Cardano shot to fame because of its promise to integrate virtual assets with daily use cases. Although it has not spiked to its expected potential, the cryptocurrency was still holding strong in the face of stiff competition.

At press time, ADA was trading for $0.093 with a total market cap of $2.91 billion. A 1.43 percent price increase over the past 24-hours had elevated the daily trading volume to $999.4 million.

adausd 1

Cardano’s Chaikin Money Flow indicator had spiked above the zero line, a sign that the capital coming into the Cardano market was much more the capital leaving the market. The RSI, on the other hand, was still struggling to break into the zone because the graph had fallen below the oversold zone.

IOTA

iotausd

Another altcoin enjoying a decent stint on Friday was IOTA, climbing by 1.4 percent in the hourly spectrum. IOTA was valued at $0.27 with a total market cap of $774.207 million and a 24-hour trading volume of $8.089 million. The cryptocurrency’s technical analysis was more bullish than Cardano’s as evidenced by the RSI and the CMF.

IOTA’s CMF was right on the zero line, signalling the slowdown in capital inflow. Some analysts predict that if the Internet of Things based cryptocurrency shows more developments, then it could head towards a significant price increase. The IOTA RSI was on the verge of breaking towards the overbought zone due to an increase in the number of people buying into the IOTA market.

Dogecoin

dogeusd

Dogecoin, the meme-inspired cryptocurrency was one of the few tokens showing green on all three timeframes. At press time, DOGE was trading for $0.0028 and held a market cap of $354.679 million. The Jackson Palmer founded virtual asset was one of the few assets that showed a decent performance on the price charts.

DOGE’s Chaikin Money FLow had reached its highest point since March, signalling a massive shift in investor sentiment. The surge in capital could be because of the lack of stellar movements from the incumbent cryptocurrencies. Dogecoin’s RSI had also spiked over the past week after having fallen to a 6 month low.

 

Filed Under: Altcoin News, Market Analysis Tagged With: Cardano, Dogecoin, IOTA (MIOTA), news

Deutsche Bank see a bright future for CBDCs, Releases Report Citing Benefits and Perks

September 18, 2020 by Akash Anand

Since the inception of the cryptocurrency industry, it has been met with several criticisms and jabs from the naysayers. Most of the critics claimed that the industry would never gain the acceptance of the masses because of the lack of transparency and trust within the system.

Cut to a decade later and it has become evident that the world is on the verge of a new technological boom. Cryptocurrencies and blockchain technology have come such a long way that traditional organizations such as the Deutsche Bank Wealth Management group are also siding with the concept of virtual assets. 

In a recent report released by the Deutsche Bank Wealth Management, it was stated that the establishment of Central Bank Digital Currencies could better the world of financial relationships. The group suggested that CBDCs can operate in several forms but work best trough direct interaction with central bank accounts. According to the report, CBDCs need to adhere to two major factors: provide increased transaction speed, security, and transparency while maintaining a more effective monetary policy.

CBDCs can bring in additional benefits such as combating payment fraud and ensuring “good corporate governance”. Enforcing monetary policies has always been a painful procedure because of the sheer number of caveats in financial laws. With CBDCs, banks can try to remove the option to hold cash on investors’ balance sheets which makes transactions much more seamless. CBDCs are also expected to allow banks to lower their interest rates and onboard more users to their fold.

Although regulators and lawmakers are ready to take a leap of faith with the new technology, they still remain wary of the dangers associated with the industry. Multiple reports of hacks and fraudulent activities have forced even the Deutsche Bank Wealth Management to stay on their toes when it comes to crypto. Their report said:

“CBDC are currently being investigated by several central banks, with China and Sweden having undertaken trials. Major uncertainties remain about how full-scale CBDC would operate and about their implications for capital markets. Further, there are important concerns about potential threats to individuals’ privacy. But, as the report points out, CBDC may soon become part of our lives, so societies need to learn how to use them best.”

The bank joins several other organizations all over the world in experimenting with cryptocurrencies. Analysts and experts in the field claimed that it was only a matter of time before virtual assets become a part of the daily lore.

Filed Under: Altcoin News Tagged With: Blockchain, CBDC, Cryptocurrency, deutsche bank, news

  • « Go to Previous Page
  • Go to page 1
  • Interim pages omitted …
  • Go to page 27
  • Go to page 28
  • Go to page 29
  • Go to page 30
  • Go to page 31
  • Interim pages omitted …
  • Go to page 100
  • Go to Next Page »

Primary Sidebar

Recent Posts

  • Bitcoin Futures Open Interest Skyrockets To $13B; CME Tops Chart January 17, 2021
  • Litecoin’s [LTC] Buying Volumes Intact Despite Dull Price Action January 16, 2021
  • Kraken Becomes Latest Crypto Venue To Halt XRP January 16, 2021
  • Coinbase’s Latest Initiative To Spruce Up Listing Process January 16, 2021
  • Gemini Follows Coinbase’s Trail; Winklevoss Twins Affirm Going Public Is An Option January 15, 2021


Footer

News

  • Altcoin News
  • Bitcoin News
  • Blockchain
  • Tron News
  • World

Digest

  • Meet the Founder
  • Price Winning Article
  • DeFi
  • Cyber Security
  • Crypto Scam

Industry

  • Project Review
  • Technology
  • Fintech
  • Tron Exchange
  • New in Town

Tron Universe

  • Event and Tron Parties
  • New in Town
  • Tron Tokens

Follow Us

Subscribe US

Copyright © 2021 · Tron Weekly. All Rights Reserved. NOTE: Tron Weekly is an independent crypto news site that adheres to the strict journalism policy anchored on transparency, trust, and objectivity, we have no affiliation with the TRON Foundation, its founder Justin Sun or any other cryptocurrency firm.