Analysis Crypto by Thebittimes.Com

Amidst the tariff turmoil of early April, XRP plunged into the unknown as it lost the critical $2 support zone.  Simultaneously, traders made a vote of confidence in the token by generating enough buying pressure to return it, by press time, to $2.01, with ‘smart money’ investors playing a pivotal role on April 9, per the data Finbold retrieved from Spotonchain on April 11. XRP smart money moves and token price. Source: Spotonchain Specifically, ‘smart money’ provided two-week-high inflows on the day, taking advantage of the ‘dip,’ and stabilizing XRP above $1.75. Interestingly, data reveals that these experienced traders were also not certain how low the token would go, as records show no significant buying at the April 7 $1.65 lows.  Indeed, veteran investors appear to have waited for the market to find a bottom and entered the game only after XRP made its first downward correction on its path to recovery. Are the smart money XRP inflows bullish? ...

Mike Novogratz. Source: a video screenshot, Bitcoin Magazine / YouTube Michael Novogratz, the founder of the US-based crypto financial services firm Galaxy Digital Holdings , could let go of up to 20% of the workforce amid the market downturn . Crypto exchange BitMEX has also reduced its staff.  According to a report by Bloomberg, there is no official plan for a workforce reduction at Galaxy Digital yet – rather, it is still being considered and developed, meaning that the final number of fired workers is still unknown. The report did say, however, that, “The final number could be in a range of 15% to 20%, according to people familiar with the matter.” The company reportedly has 375 employees across the world, per the data at the end of the second quarter, meaning that 75 people could possibly be fired. Galaxy’s spokesperson Michael Wursthorn was quoted as saying that, “We are always considering optimal team structure and strategy a...