Market overview: February 3 — 7, 2020

Friday is finally here, and as usual, here’s our brand new weekly digest for you. Check out our market analysis of the first week of February with the biggest stories of cryptocurrency and blockchain spheres.

Ripple announced collaboration with Intermex

This week Ripple team announced partnership with Intermex. They plan to develop RippleNet, and provide quick and transparent cross-border remittance services between the U.S. and Mexico.

It is expected that this partnership will help to reduce settlement time and cut some costs. It will also give Intermex access to Ripple’s On-Demand Liquidity (ODL) service. It uses XRP as a real-time connection between sending and receiving currencies, speeding up settlement times and decreasing costs to “fractions of a penny.”

BTC price reached $10k

The Bitcoin price crossed the psychologically important $10,000 mark. According to CoinMarketCap, Bitcoin price gained +8.26% over the past week. The BTC price boosted from below $7,000 in January 2020 to currently over $10,000.

This movement is a result of a slow and steady increase in volume and volatility.

Tron founder finally met with Warren Buffett

Justin Sun, Tron founder and CEO, has finally had his charity lunch with billionaire Warren Buffett. After this meeting, Sun tweeted that he was grateful for Buffett’s “wisdom and vision.”

He added: “I’ll always remember his kindness and support and will take Mr. Buffett’s advice and guidance to make Tron a better ecosystem, business with all the partners in the blockchain space and beyond.”

That’s all for now. If you like our cryptocurrency digest, don’t forget to share it, and stay tuned for new blog posts!