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5 Best Bitcoin Exchange in India 2020

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Crypto Travel Agency Travala Enters Chinese Travel Market

The Binance-backed cryptocurrency travel booking website Travala is reportedly expanding into the growing Chinese travel market, as the country’s tourism industry starts rebounding from the COVID-19 pandemic. According to CoinDesk, the online travel agency has launched a Chinese language website and created a regional customer support team. It’s also starting to market to travelers in […]

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The Binance-backed cryptocurrency travel booking website Travala is reportedly expanding into the growing Chinese travel market, as the country’s tourism industry starts rebounding from the COVID-19 pandemic.

According to CoinDesk, the online travel agency has launched a Chinese language website and created a regional customer support team. It’s also starting to market to travelers in the country, in a bid to capitalize on the country’s recovery from the pandemic.

Speaking to the publication Juan Otero, CEO of Travala.com, revealed the firm is trying to capitalize on domestic tourism. He said:

Europe, the U.S. and our other strong markets will potentially take a good three to four months to recover, whereas in China, the recovery is happening now and very fast

China’s domestic flight bookings are reportedly back up to pre-COVID-19 levels, and hotels are now filing up for the upcoming Golden Week holiday. Per Otero, China is one of the “largest domestic travel markets in the world.”

In its bid to expand to the Chinese market, Travala will also start accepting WeChat Pay as a payment option, along with its lineup of cryptocurrencies and fiat currencies, which now include CNY. As CryptoGlobe reported, the online travel agency partnered earlier this year with the Expedia Group to add more than 700,000 hotels and accommodations to its platform, in addition to the 2 million hotels it already had.

In a blog post, Travala notes that WeChat users will soon be able to login or signup to the platform using their WeChat accounts, as users are already able to connect to it using Facebook, Google, and Binance.

Featured image via Unsplash.

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XRP long-term Price Analysis: 19 September

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XRP took a substantial hit in terms of its price this month, with the cryptocurrency falling on the charts in early-September on the back of Bitcoin’s fall. However, the past week has illustrated a determined XRP, one with strong bullish momentum as it tried to recover its previous losses.

At press time, XRP was being traded at $0.24 with a market cap of over $11 billion. Despite the previous week’s upward momentum, the price of the coin did note a minor dip of over 1 percent over the past 24-hours, with a trading volume of $2 billion.

XRP 4-hour chart

Source: XRP/USD, TradingView

According to XRP’s 4-hour chart, the price has been moving in a steady ascending channel with a long-term breakout downwards expected in the coming week. The uptrend noticed on the daily chart may end up with a slight correction over the aforementioned period, however, dropping the price to its support at $0.241. With the price continuing to move within the formation, it is likely to briefly visit its resistance level at $0.25, following which, a downward breakout is quite possible. Further, there was an additional support at $0.23 and a resistance level at $0.27 for the coin.

Source: XRP/USD, TradingView

At the time of writing, the MACD indicator had undergone a bearish crossover, confirming the possibility of a downward dip in the coin’s price over the coming week. Further, the RSI also echoed a similar sentiment, with the same falling towards the oversold zone on the charts.

Source: CoinMetrics

Most altcoins in the long-term do exhibit substantial correlation with the king coin – Bitcoin, and such is the case for XRP. Over the past year, the XRP-BTC correlation has registered a significant uptick from 0.66 to 0.81.

Conclusion

XRP’s long-term price action looked slightly bearish as the coin was likely to see its price dip to its immediate support in the coming week, once it breaks out of the ascending channel formation. However, before such a move is made on the price charts, the coin may see it touch the resistance at $0.25, following which, a drop was quite likely.

Source: https://eng.ambcrypto.com/xrp-long-term-price-analysis-19-september

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Opinion: Can Uniswap’s UNI Break Into the Top 10 Cryptocurrency Token Rankings?

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The launch of Uniswap’s governance token UNI caught the cryptocurrency market left, right, and center. Some folks who received the airdrop for being a loyal Uniswap user before September 1, dumped it on the market to avail their free helicopter money. Some held on.

Nonetheless, UNI got listed on Coinbase Pro, Binance and it’s price shot through the roof. It’s now on number 32 as per CoinGecko. But can it break into the top 10?

UNI Token Price Pumps, Dumps Then Again Pumps

As reported by CryptoPotato, the listing of UNI on Coinbase and Binance led to a massive pump in the token’s price. UNI surged 300 percent from $1 to $4 before dropping to the lower $2 levels later in the day.

Then, the token went on a rampage and reached a high of just shy of $9 before retracing to where it’s currently trading at around $6.7. But the explosive price action has generated tremendous enthusiasm amongst traders and DeFi fans who are calling for UNI’s break into the top 10.

So much is the frenzy that users were found to buy ETH to collect their ‘UNI helicopter money’ despite surging gas prices on the Ethereum network.

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Can Uniswap’s Governance Token Break Into Top 10?

Since the launch and a super volatile bout of trading activity, Uniswap’s governance token is already a number 32 cryptocurrency according to data from CoinGecko.

Uniswap is currently the top DeFi project according to DeFi Pulse. And has assets with a total USD value worth $1.8 billion docked up in the DEX. An increment of 90 percent in the last 24 hours.

UNI has a $720 million market cap and is handling a $4.5 billion daily trading volume. Something which is unusual for a digital asset at such lower rankings. But according to hopium laced optimistic predictions on Twitter, the token will actually be a ‘unicorn’ cryptocurrency with its entry in the top 10.

And actually there may be some substance in such a claim as out of a maximum supply of 1 billion, only around 106 million UNI tokens are in circulation. The coin is trading currently for a price of $6.7.

It must be taken into consideration that Coinbase has an equity stake in Uniswap’s parent company Universal Navigation Inc and also holds a sufficient number of UNI tokens, as mentioned in their UNI token listing blog post.

This imparts a certain dose of legitimacy to the decentralized token swapping protocol. As per CoinGecko with current prices, UNI would have a ‘fully diluted valuation’ of more than $6.5 billion. That would be enough to push it comfortably amongst the top 10 cryptocurrencies.

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Source: https://cryptopotato.com/opinion-can-uniswaps-uni-break-into-the-top-10-cryptocurrency-token-rankings/

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