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Blockchain

BPI No Longer Allows Crypto Transactions

The ban from BPI didn’t make sense because GCash, a sister company (both are part of the Ayala group) recently expressed interest to add cryptocurrency functions on the GCash mobile app.

The post BPI No Longer Allows Crypto Transactions appeared first on BitPinas.

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By Sean Millare and Michael Mislos

BPI, one of the largest banks in the Philippines, is no longer allowing crypto transactions.

According to online magazine When In Manila,  “It used to work fine but upon using our BPI card on Binance today, it kept getting declined. We called BPI and were told that they just got a memo today.”

Luis Buenaventura, a Filipino NFT artist, author & co-founder of BloomX said in his Facebookpost (also republished on BitPinas) that even though there’s no news coverage about this rumor his contacts already verified that it was indeed true. One of the comments in Luis’ post also confirmed that BPI is blocking deposits to Binance.

In a post on the subreddit r/PHinvest, multiple users confirmed that BPI is no longer accepting crypto transactions. One user also shared an email from BPI regarding crypto transactions. (BitPinas has yet to confirm the authenticity of the shared email.)

Another BPI account holder Fleire Castro also shared a message from the bank noting its restriction of crypto-related transactions.

Many users are recommending using UnionBank and other cards like PayMaya when doing crypto transactions. UnionBank has allowed crypto transactions and even has a crypto ATM in one of its branches in Makati. The bank has piloted multiple blockchain-related trials, some of them would eventually become full-fledged products – like Bonds.ph, a blockchain based platform to buy bonds in the Philippines, and Project i2i, which was intended to connect rural banks to the national banking infrastructure.

GCash, a popular mobile wallet app in the Philippines recently announced their plans of adopting cryptocurrencies in their mobile wallet app. “While we may be considered a disruptor now, it is important in this digital age that we should be mindful of all types of disruptions out there. It’s important to know what the trends are, whether locally and globally and crypto is part of that.” GCash CEO Martha Sazon previously said.

As Luis previously mentioned, the ban from BPI didn’t make sense because GCash, a sister company (both are part of the Ayala group) recently expressed interest to add cryptocurrency functions on the GCash mobile app. This sentiment was shared by other users primarily those on Reddit. In the op-ed, the co-founder of BloomX said that despite all the existing regulations surrounding crypto, banks in the Philippines have remained anti-crypto. “What’s worse is that their positions have become MORE aggressively anti-crypto over the years, in direct contrast to the state of global regulation. It’s truly saddening to still be marginalized after all this time operating in the regulated space.”

BitPinas contacted BPI and the post will be updated if there are new developments.

Source: When in Manila, Reddit

This article is published on BitPinas: BPI No Longer Allows Crypto Transactions

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Blockchain

SEC delays its decision on VanEck BTC ETF, seeks public comments.

The US Securities Exchange Commission has a history of delaying the approval of Bitcoin ETFs. The regulatory hurdles and the indefinite rejections in the past have dented the hopes of a quick SEC approval. Crypto-enthusiasts have already been frustrated by the SEC’s reluctance to sign off on an ETF. In what is the most recent […]

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The US Securities Exchange Commission has a history of delaying the approval of Bitcoin ETFs. The regulatory hurdles and the indefinite rejections in the past have dented the hopes of a quick SEC approval. Crypto-enthusiasts have already been frustrated by the SEC’s reluctance to sign off on an ETF. In what is the most recent development, the US SEC further delayed passing its judgment on the VanEck Bitcoin Trust. 

US SEC continues to delay its BTC ETF decision. 

The SEC usually delivers a decision on a particular application within 45-day windows. However, to date, the agency has used the upper cap, 240 days, to review most of the Bitcoin ETF applications and has ended up rejecting them. This is the second time that the regulatory body has extended its review period by 45 days for VanEck’s ETF. Earlier this year, the SEC stated that it needed “sufficient time” to evaluate the BTC ETF proposal. The crypto community had hoped that the change in administration would result in a BTC ETF proposal, but a BTC ETF prospect still looks remote.

SEC seeks public comments on BTC ETF. 

The SEC has asked for public comment on VanEck’s BTC ETF application. People can answer questions with relevant data to substantiate their views on how vulnerable the ETF would be to “market manipulation” and whether or not the regulatory ecosystem has “changed” since 2016. Other questions require the participants to shed light on their views about the “transparency” of Bitcoin and their standpoint on the “size and regulation” of CME’s Bitcoin futures contracts. The SEC has repeatedly highlighted its concerns over fraud and manipulation in the BTC markets for denying a BTC ETF its approval until now. 

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Source: https://coinnounce.com/sec-delays-its-decision-on-vaneck-btc-etf-seeks-public-comments/

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Blockchain

UMA Technical Analysis: Price Has Fallen Below the Fibonacci Pivot Point of $12.38

UMA price has tested and fallen below 23.6% FIB retracement level of $13.14. If the price falls below the 23.6% FIB extension level in some time, this implies that the price downtrend is strong. In that case, the price downswing is likely to continue tomorrow as well.

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Universal Market Access is a protocol to create synthetic assets that are based on the Ethereum blockchain. A synthetic asset is a different asset class that represents the value of the underlying asset. However,  UMA helps its users to create self-enforcing financial contracts and run them on Ethereum. The following UMA technical analysis will predict the price trends for the next few days:

Past Performance

On June 10, 2021, UMA started trading at $13.01. As of June 16, 2021, the closing price of UMA was $12.04. Thus, in the past week, the UMA price has plummeted by roughly 7%. In the last 24 hours, UMA has traded between $11.85-$13.14.

https://d229noksprj98s.cloudfront.net/wp-content/uploads/2021/06/uma-technical-analysis-price-has-fallen-below-the-fibonacci-pivot-point-of-12-38.png

https://www.tradingview.com/x/AoAaDOFl/

Day Ahead And Tomorrow

Currently, UMA is trading at $12.20. The price has increased slightly from the opening price of $11.97. Thus, the market looks positive.

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The MACD and signal lines are negative. However, a bullish crossover by the signal line over the MACD line has occurred. Thus, the overall market momentum is bullish, and we can expect a price to rise. However, both the lines are close to the zero lines and may change signs soon. Thus, a trend reversal is on the horizon.

The OBV indicator is gradually falling. Thus, selling volumes are higher than buying volumes. Hence, we can expect the UMA price to decrease.

The RSI indicator is at 49%. It has just rallied from the 30% mark. Thus, buying pressures are slowly mounting. Hence, we can expect the price to start rising again in a few hours.

UMA Technical Analysis

The price has fallen below the Fibonacci pivot point of $12.38. As some oscillators have shown bearish signals, we can expect the price to fall below the first Fibonacci pivot support level of $11.81 soon.

READ  Are Bitcoin [BTC] and Gold Prices Correlated? – ‘Pomp’ and Schiff to Battle Soon

The price has tested and fallen below the 23.6% FIB retracement level of $13.14. If the price falls below the 23.6% FIB extension level after some time, this implies that the price downtrend is strong. In that case, the price downswing is likely to continue tomorrow as well.

#UMA #Universal Market Access

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Source: https://www.cryptoknowmics.com/news/uma-technical-analysis-price-has-fallen-below-the-fibonacci-pivot-point-of-12-38

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Blockchain

Ethereum Non-Exchange Whale Holdings Hit A 5-Year High, Michael Saylor Praises ETH

For the last week and more, the world’s second-largest cryptocurrency Ethereum (ETH) has been trading under pressure with its price failing to hold above the $2500 support levels. However, ETH whales seem to be making the most of this price correction and have started accumulating in big numbers. As per the recent data from the

The post Ethereum Non-Exchange Whale Holdings Hit A 5-Year High, Michael Saylor Praises ETH appeared first on Coingape.

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For the last week and more, the world’s second-largest cryptocurrency Ethereum (ETH) has been trading under pressure with its price failing to hold above the $2500 support levels. However, ETH whales seem to be making the most of this price correction and have started accumulating in big numbers.

As per the recent data from the on-chain provider Santiment, the holdings for the top ten Ethereum non-exchange whale wallets have surged rapidly in recent times. The combined holdings of these top-ten wallets have climbed to a massive 19.67m coins, the highest over the last five years since July 2016.

Courtesy: Santiment

On the other hand, Ethereum (ETH) whale addresses holding 10K to 100K tokens have remained at an all-time high despite. But at the same time, mid-tier addresses holding between 10-10K ETH continue dropping.

Recently, Ethereum has been in the eyes of institutional players and market veterans. Bitcoin evangelist and MicroStrategy CEO Michael Saylor recently went on praising Ethereum.

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Michael Saylor – Ethereum Provides Financial Establishment

In a recent interview with CNBC, the Bitcoin evangelist for the first time spoke about other digital assets apart from BTC. Talking about Ethereum, he said that the blockchain will disrupt traditional finance. Saylor said:

“You’re going to want to build your buildings on a solid footing of granite, so bitcoin is made to last forever — high integrity, very durable. Ethereum is trying to dematerialize exchanges and the finance establishment. I think that as the market starts to understand these things, there’s a place for everybody.”

Michael Saylor’s MicroStrategy has been massive raising funds over the last few months to invest in crypto.

Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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Source: https://coingape.com/ethereum-non-exchange-whale-holdings-hit-a-5-year-high-michael-saylor-praises-eth/

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Blockchain

CNN Launches “Vault” to Sell NFTs of Historic News Moments

The WarnerMedia-owned multinational news channel CNN is launching “Vault by CNN” to offer a select set of NFTs from the channel’s 41-year old archives.

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If you’ve ever wanted to own a piece of history, now might be your chance. The WarnerMedia-owned multinational news channel CNN is jumping into the NFT space with a new offering called “Vault by CNN”. The project will mint a select set of NFTs from the channel’s 41-year old archives on the Flow blockchain, which is also home to NBA Top Shot, a marketplace for sports highlights.

CNN NFTs Will Be Available in Late June

While CNN hasn’t specified the details for its first batch of NFTs, the channel has hinted that the offering will be based on its early exclusives, world history, and Presidential Elections. “Vault” will begin dropping these moments over a span of six weeks starting in late June 2021. Users could expect the successive collections to cover more topics and themes as Vault by CNN adapts to the community.

Explaining the rationale for the launch of its new service, CNN stated:

“Until now, there has been no way to ‘collect’ these moments. Users can often find old footage online, or packaged up in documentaries, but they cannot ‘own’ them or display them in the way they can with a print newspaper or magazine.”

The tokenized news moments will be available in a combination of both limited and open editions. To purchase these tokens, users will have to sign up for “Vault”, where they will store the moments. Unlike other NFT shops, users are not required to fulfill their payments in cryptocurrencies; they can buy their tokens using traditional methods such as credit cards. Although, users will need to create a digital wallet with the mobile application Blocto.

Users Will Be Able to Render Their NFTs Offline

CNN has partnered with video framing company Infinite Objects to help users render their NFTs onto a screen without an internet connection. 

Interestingly, Fox and Time Magazine have also announced their foray into the NFT market before CNN. As of yesterday, Fox Corporation revealed that it was investing $100 million in Blockchain Creative Labs for NFT content creation. 

READ  CHSB Technical Analysis: Breakout of the Pivot Resistance Level of $1.35

#CNN NFTs #Fox NFTs #News NFTs #Vault by CNN

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Source: https://www.cryptoknowmics.com/news/cnn-launches-vault-to-sell-nfts-of-historic-news-moments

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