Connect with us

Blockchain

FinNexus Cross Chain DeFi Project – Where to Buy FinNexus coin

FinNexus has seen a price increase of 100% over the last week due to…

The post FinNexus Cross Chain DeFi Project – Where to Buy FinNexus coin appeared first on Coin Journal.

Published

on

FinNexus has seen a price increase of 100% over the last week due to it trending recently.

FinNexus, the cross-chain DeFi options platform for gaining exposure to other markets, is currently trending due to a doubling of its price in the last week.

The project went from $0.00106038 up to its current price at $0.00929596.

Finexus currently has a market cap value of around $35 million.

The project aims to facilitate option trading for DeFi users wanting to gain exposure to other asset classes from a single collateral pool.


Where to buy FinNexus and take advantage of price changes

CedarFX

CedarFX is an eco-conscious broker offering 0% commission trading on 170+ assets, including Forex, Cryptocurrency Pairs, Stocks, Indices and Commodities. With up to 1:500 leverage, no-fee transactions and low spreads, traders can make the most of their funds. CedarFX also offers an Eco Account option to support tree planting and sustainability projects.

Register with CedarFX instantly

eToro

eToro is a multi-asset investment platform with more than 2000 assets, including FX, stocks, ETF’s, indices and commodities. eToro users can connect with, learn from, and copy or get copied by other users. Buying stocks on eToro is free and you can invest with as little as $50.

Register with eToro instantly

Why is FNX a buy?

The reason FinNexus has seen a dramatic price increase is unknown.

The project suffered a hack recently and has since relaunched itself as Phoenix Finance.

The reasons for the price increase are therefore unclear as the developers appear to have moved onto the next project. Nevertheless there still appears to be profit making opportunities for the project as it continues to receive volatile price movements, as evidenced over the last week despite the announcement that the project has been effectively abandoned.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://coinjournal.net/news/finnexus-cross-chain-defi-project-where-to-buy-finnexus-coin/

Blockchain

UK Bank TSB to Prohibit Crypto Purchases on Binance and Kraken

The bank has singled out Binance and Kraken, saying the exchanges have failed to…

The post UK Bank TSB to Prohibit Crypto Purchases on Binance and Kraken appeared first on Coin Journal.

Published

on

The bank has singled out Binance and Kraken, saying the exchanges have failed to respond to security concerns

A man walks past a TSB Bank building in London

UK bank TSB is looking to prevent 5.4 million of its customers from using their accounts to buy cryptocurrency.

The commercial lender is reportedly taking this step because of concerns over increased fraud at crypto exchanges, which expose their users to further losses.

According to sources cited by The Times, TSB is specifically targeting Binance and Kraken for what it terms as the platforms’ ‘low security standards‘ that make the two exchanges most vulnerable to fraudulent activities.

The bank, which operates 536 branches across the UK, has cited instances of weak security that have allowed fraudsters to “set up e-wallets and steal people’s money.”

On 15 June TSB published advice to its customers asking them to “be extra vigilant when it comes to crypto investment advisors.” According to the bank, customers should guard against engaging with calls, e-mails or texts from crypto-related sources as they are “a scam.”

Binance denies TSB claims

TSB Bank reportedly received 849 fraud-related reports on Binance alone between March 15 and April 15. TSB customers claimed to have lost money in the 30 days, with the bank then seeking Binance’s response on the matter.

However, according to The Times report, the exchange failed to cooperate and “hardly” does regardless of all efforts.

Binance has refuted these claims, adding that it takes its responsibility on user protection “very seriously.”

When we are made aware of these claims, we immediately take action and have an excellent record of working with law enforcement agencies,” Binance said in a statement.

Kraken has also responded to TSB’s fraud accusations, with the exchange’s compliance officer Steven Christie stating that the platform Kraken had “responded to well over 1,000 different requests from law enforcement agencies in 2020 alone.”

He added that the exchange’s operations adhere to regulatory and compliance requirements.

The move by the TSB bank comes just days after UK regulator FCA warned that most crypto investors did not pay attention to warnings and advice regarding cryptocurrency investing.

Its latest research showed that nearly 2.3 million UK adults hold crypto or have invested in it before. However, just one in ten knew of the various regulatory warnings about cryptocurrency.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://coinjournal.net/news/uk-bank-tsb-to-prohibit-crypto-purchases-on-binance-and-kraken/

Continue Reading

Blockchain

Classic bearish chart pattern forms for Bitcoin as BTC price tumbles to $32K

Bitcoin flashes a classic bearish technical pattern that could crash BTC prices to below $20,000.

Published

on

Bitcoin (BTC) bulls should look for a cover, at least as far as chart technicals are concerned.

The flagship cryptocurrency continued its price declines into the new weekly session, hitting $32,105 ahead of the London opening bell following a circa 10% intraday drop. In doing so, it raised the prospect of retesting its quarter-to-date low of $30,000 for either a bearish breakdown or a bullish pullback.

Bitcoin consolidates between $30,000 and $42,000. Source: TradingView.com

But as traders grapple with the ongoing medium-term bias conflict in the Bitcoin market, one classic technical pattern has surfaced to boost a bearish outlook.

The cup has turned

Spotted by Keith Wareing, an independent market analyst, the so-called “Inverse Cup and Handle” structure points to an extended downside price correction ahead in the Bitcoin market. In detail, the pattern develops when an asset forms a large crescent shape as it rallies higher and corrects lower, followed by a less extreme, upward rebound.

Traders look at the Inverse Cup and Handle pattern as their cue to open short positions to target deeper levels. The most extreme bearish target, in such a case, is determined by measuring the distance between the cup’s top and the pattern’s breakout level.

Meanwhile, traders typically spot breakout levels when the price breaks out from the handle pattern to the downside while accompanied by higher volumes.

Bitcoin Inverse Cup and Handle formation hints bearish breakout is ahead. Source: Keith Wareing, TradingView.com

Based on the chart provided by Wareing, Bitcoin’s recent price action — ranging from its pump to nearly $65,000 followed by a dump to $30,000 and a retracement to $40,000 — almost checks all the boxes that confirm the presence of an Inverse Cup and Handle structure.

Except, the Bitcoin price still awaits a bearish breakout.

The depressive Bitcoin setup appeared as traders assessed the Federal Reserve’s hawkish reversal on interest rates and inflation. Last week, the U.S. central bank signaled that it could raise benchmark lending rates by the end of 2023 instead of 2024 to tame the rising inflation.

James Bullard, one of the Fed officials, said separately on Friday that the central bank could raise rates by as early as 2022. 

Fed chair Jerome Powell also said in a press conference on Wednesday that his office would move to discuss reducing the $120bn worth of monthly asset purchases it had started in March 2020.

Bitcoin and other pandemic winners, including gold and Wall Street stock indexes, fell in tandem owing to the Fed’s hawkish tones. Meanwhile, the U.S. dollar index, which measures the greenback’s strength against a pool of top foreign currencies, rose to its two-month high, suggesting a renewed appetite for cash among investors.

More bearish outlooks emerge

The latest Bitcoin price plunge also took cues from reports of China’s deepening crackdown on crypto mining farms in the region. The state-backed newspaper Global Times reported that authorities in Sichuan ordered miners to wind down their operations.

Sichuan is home to China’s second-largest crypto mining community. The latest ban means that 90% of China’s mining capacity, which makes 75% of the global computing supply, has probably gone offline, noted Global Times.

Bitcoin hash rate dropped to its November 2020 low following the China crackdown story. 

Bitcoin hash rate drops to 140.3 EH/s for the first time in six months. Source: Blockchain.info

Dr. Jeff Rose, the founder andCEO of Vailshire Capital Management, said that he expects Bitcoin to stay weak for the next 1-3 weeks, fearing liquidation at the end of Chinese miners.

Nevertheless, he added that the cryptocurrency’s macro outlook remains bullish as long as it holds key technical targets above 12- and 48-month moving averages.

Bitcoin’s breakdown below 12-month moving average risks wiping its market valuation by more than 50%. Source: Dr. Jeff Rose, TradingView.com

Bitcoin’s 48-month moving average is currently around the $13,000 level.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cointelegraph.com/news/classic-bearish-chart-pattern-forms-for-bitcoin-as-btc-price-tumbles-to-32k

Continue Reading

Blockchain

What if Michael Burry is Right? BTC Price Confirms “Death Cross” Formation

Popular hedge fund manager Micahel Burry, who correctly predicted the 2008 financial crisis beforehand, has now predicted the “mother of all crashes”. Burry has been vocal about the latest developments in the crypto space along with his views on the global macroeconomic situation. Last Thursday, the founder of Scion Asset Management said: “All hype/speculation is

The post What if Michael Burry is Right? BTC Price Confirms “Death Cross” Formation appeared first on Coingape.

Published

on

Popular hedge fund manager Micahel Burry, who correctly predicted the 2008 financial crisis beforehand, has now predicted the “mother of all crashes”. Burry has been vocal about the latest developments in the crypto space along with his views on the global macroeconomic situation. Last Thursday, the founder of Scion Asset Management said:

“All hype/speculation is doing is drawing in retail before the mother of all crashes. #FOMO Parabolas don’t resolve sideways; When crypto falls from trillions, or meme stocks fall from tens of billions, Main Street losses will approach the size of countries. History ain’t changed”.

Burry’s comments have raised anxiety in the crypto space. Bitcoin has been constantly trading under pressure for the last week and collapsed another 8% on the weekend to slip below $33,000 levels. The bitcoin price crash comes with the liquidation of multiple long positions in the last few hours.

Crypto Analyst Confirms Death Cross Formation on Bitcoin Price

The recent Bitcoin price drop on the technical charts has also confirmed the formation of ‘death cross’, a bearish indicator that occurs when the short-term average of Bitcoin drops below its long-term average.

This can lead to further downside pressure on the Bitcoin price leading to a major crash. Fred Ehrsam, co-founder of the world’s largest crypto exchange, Coinbase, also issued a similar warning with the death cross.

advertisement

  • Bitcoin price and Wall Street’s Correlation

Although Bitcoin (BTC) has been many times referred to as a hedge asset to stock, it has rather shown strikingly similar price movements with Wall Street. Recently, popular crypto analyst Willy Woo noted that Bitcoin’s further price action will be based on how Wall Street reacts.

Last Friday, June 18, the Dow Jones closed under its support levels striking fear in the market. However, the Dow Jones futures have opened 200 points up at positive levels earlier today. thus, analysts are expecting a positive opening for the start of this week. It will be interesting to see whether any positive price action on Wall Street will help BTC recover from the bottom.

Burry – “The Problem With Crypto Is Over Leverage”

The famed investor noted that the major problem with the crypto market today is very high leverage. “If you don’t know how much leverage is in crypto, you don’t know anything about crypto, no matter how much else you think you know,” he added.

But Burry added that he is not a critic of Bitcoin. “I don’t hate BTC. The long-term future is tenuous for decentralized crypto in a world of legally violent, heartless centralized governments with lifeblood interests in monopolies on currencies.”

burry is not shorting BTC because “In the short run anything is possible”. Famed author of Rich Dad Poor Dad Robert Kiyosaki also noted that there’s a major bubble brewing in the stock market. He said that he will buy more Bitcoins as it reached $24,000.

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.

Subscribe to our newsletter for free

Handpicked Stories

Checkout PrimeXBT
Trade with the Official CFD Partners of AC Milan
Source: https://coingape.com/what-if-michael-burry-is-right/

Continue Reading

Blockchain

Bank TSB set to bar 5.4M customers from buying crypto

Bank TSB is set to become the latest financial institution in the United Kingdom to prevent customers from investing in crypto.

Published

on

United Kingdom-based financial institution TSB Banking Group Plc. will soon ban its over 5.4 million customers from buying Bitcoin (BTC) and other cryptocurrencies.

According to a report by The Telegraph on Saturday, the bank’s imminent crypto ban is due to alleged cases of fraud associated with cryptocurrency transactions.

Bank TSB has reportedly received a plethora of complaints from customers about crypto-related fraud cases. Indeed, the U.K. bank says about 12.5% of payments to crypto exchange platforms involve transactions as against one in 5,500 for non-virtual currency-related transfers.

Crypto exchange giant Binance has reportedly been linked to the rising number of crypto fraud complaints lodged by the bank’s customers. Two-thirds of suspected cases were linked to Binance, with 849 instances occurring between mid-March and mid-April.

As previously reported by Cointelegraph, U.K. bank NatWest issued a crypto scam alert back in May after reportedly receiving a record number of complaints in Q1. Earlier in April, the bank had served an anti-crypto notice to clients and customers to stay away from cryptocurrencies.

Apart from Binance, TSB Bank identified United States exchange service Kraken as another platform linked to a significant number of suspected fraud cases. The U.K. bank also criticized crypto exchanges for not responding to fraud-related customer complaints.

Commenting on plans to introduce a crypto ban, a spokesperson for TSB Bank remarked that it was the bank’s obligation to protect customers from platforms with “excessively high fraud rates.”

TSB Bank joins a growing list of U.K. financial institutions that have barred customers from crypto. Apart from NatWest, other British banks such as Barclays and Starling have moved to ban customers from depositing cash in cryptocurrency trading platforms.

Related: UK Starling bank to resume crypto exchange deposits in late June

Earlier in June, Starling announced that it would resume allowing customers to deposit cash in crypto exchanges from Wednesday.

At the start of the year, HSBC began preventing customers from withdrawing profits from crypto exchanges to their bank accounts.

While there is no crypto ban in the U.K., regulators remain critical of cryptocurrencies. In May, Bank of England governor Andrew Bailey warned that crypto investors ran the risk of losing all their money.

Bailey’s comments echoed a similar warning issued by the U.K. Financial Conduct Authority back in January.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cointelegraph.com/news/bank-tsb-set-to-bar-5-4m-customers-from-buying-crypto

Continue Reading
Energy12 mins ago

World Specialty Blacks Report 2021: Specialty Furnace Blacks, Modified Furnace Blacks, Thermal Blacks, Acetylene Blacks, Gas & Lamp Blacks, Superconductive Blacks

Blockchain12 mins ago

UK Bank TSB to Prohibit Crypto Purchases on Binance and Kraken

Blockchain14 mins ago

Classic bearish chart pattern forms for Bitcoin as BTC price tumbles to $32K

Blockchain17 mins ago

What if Michael Burry is Right? BTC Price Confirms “Death Cross” Formation

Energy22 mins ago

Orbital Energy Group’s Subsidiary, Gibson Technical Services, Awarded Distributed Antennae System Project By Major U.S. Cellular Carrier

AR/VR31 mins ago

Firewatch VR Mod In The Works

AR/VR32 mins ago

VR Cover Mid-Year Sale Discounts All its Accessories

Energy53 mins ago

Callon Petroleum Company Announces Launch of $650 Million Senior Unsecured Notes Offering

Esports53 mins ago

Skye’s ‘nerf’ in VALORANT Episode 3 is actually a massive buff

Esports57 mins ago

How to unlock Buzz in Brawl Stars?

Poland
Esports57 mins ago

byali joins Izako Boars

Energy57 mins ago

Global Smart Electricity Meter Markets Report 2021-2026: Government Support for Installation of Smart Electricity Meters Gaining Momentum

Energy57 mins ago

Power Rental Market Worth $16 Billion by 2027, Says Global Market Insights Inc.

Energy57 mins ago

Pembina Joins Inter Pipeline in Filing Cross-Applications with Alberta Securities Commission to Remedy Brookfield’s Lack of Disclosure and Protect Shareholder Rights

Energy57 mins ago

Great Bear Provides Assays Across Width of LP Fault Zone, Drills Separate Intervals of 400.00 g/t Gold Over 0.50 m and 2.23 g/t Gold Over 77.40 m in Same Hole

Blockchain57 mins ago

Bank TSB set to bar 5.4M customers from buying crypto

Blockchain1 hour ago

Nigeria’s Central Bank Could Launch Digital Currency By End of 2021

Fintech1 hour ago

Revolut revenue grew by 57% in 2020

Blockchain1 hour ago

Bitcoin Price Dips Again; Is Michael Burry Right Or Just Another Chinese FUD?

Esports1 hour ago

Gamers Without Borders 2021 announced with $1.5 million charity prize pool

Energy1 hour ago

Xinhua Silk Road: Expo celebrada el viernes en Changzhou, Este de China

Blockchain1 hour ago

Real Estate Mogul Investing in Blockchain-Based Social Network

Blockchain1 hour ago

One Token Sees Dip Following Last Week’s Launch – Where to Buy

Energy1 hour ago

Courant Naturel wählt Maxeon 5 AC als einzige Solartechnologie für Wohngebäude in Frankreich

Energy1 hour ago

Courant Naturel choisit le panneau Maxeon 5 AC comme unique technologie solaire résidentielle en France

Energy1 hour ago

Courant Naturel elige Maxeon 5 AC como única tecnología solar residencial para Francia

Blockchain1 hour ago

China’s Central Bank Calls for Crypto Trading Ban

Blockchain1 hour ago

Article 7: Is It Obligatory For Vendors To Receive Bitcoin In El Salvador?

Blockchain1 hour ago

Is the Digital Euro positioned to compete with Bitcoin and Stablecoins?

Energy1 hour ago

energyware™ Encourages School Leaders to Learn About the Benefits of Energy-Efficient Technology in Classrooms

Trending