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One DeFi Asset Poised for Breakout, With Another Foreshadowing Bitcoin’s Biggest Rallies, According to Crypto Analysis Firm

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The decentralized finance (DeFi) token COMP looks like it’s ready to break out, according to the crypto analytics firm Santiment.

COMP, the Ethereum governance token for DeFi lending platform Compound, launched on June 15th. Within one week, the token’s price skyrocketed more than 400% to a high of $381.89. It has since come down to Earth and is currently trading around $135.77.

However, Santiment says several market metrics indicate it may bounce back.

The analytics firm also says traders can track a top altcoin to get a sense of when Bitcoin is likely to make a big move.

Santiment says recent price action supports the long-held theory that Litecoin (LTC) gains are a harbinger of Bitcoin bull runs.

“LTC may not be on the crypto community’s radar these days the way it was in 2017’s bull run. But the notion that its pumps foreshadow BTC rallies still have serious legs, after it started to rally around 24 hours prior to Bitcoin.”

Source: Santiment

Santiment notes that Litecoin’s current fundamentals are mixed, with the asset’s social sentiment looking bullish, while on-chain transaction metrics are leaning bearish.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/sdecoret

Source: https://dailyhodl.com/2020/07/31/one-defi-asset-poised-for-breakout-with-another-foreshadowing-bitcoins-biggest-rallies-according-to-crypto-analysis-firm/

Blockchain

U.S. crypto exchanges have a plan for the travel rule. Now they just have to get along


Quick Take

  • A working group of 25 U.S.-based exchanges released a white paper this week outlining their platform to comply with FATF’s travel rule.
  • The group includes some of the most prominent exchanges stateside, suggesting that the plan has legs.
  • Now, the group has to develop a governance structure.
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U.S. crypto exchanges have a plan for how to deal with FATF’s travel rule














Source: https://www.theblockcrypto.com/daily/82261/us-crypto-exchanges-fatf-travel-rule?utm_source=rss&utm_medium=rss

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Blockchain

Exploring the current state of cryptocurrency taxation in the European Union


Quick Take

  • By now, guidelines for  taxation of cryptocurrency activities exist in most EU member countries. However, grey areas remain.
  • Highly favorable tax treatments in some, and lack of taxation in other EU member countries enables regulatory arbitrage.
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Exploring the current state of cryptocurrency taxation in the European Union














Source: https://www.theblockcrypto.com/genesis/82157/exploring-the-current-state-of-cryptocurrency-taxation-in-the-european-union?utm_source=rss&utm_medium=rss

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Blockchain

FinCEN proposes lower threshold for transaction data-gathering under FATF’s ‘travel rule’ including those made with crypto

Proposed rule change would mandate financial institutions gather and share data on smaller international transactions by lowering the threshold from $3,000 to $250.

The post FinCEN proposes lower threshold for transaction data-gathering under FATF’s ‘travel rule’ including those made with crypto appeared first on The Block.

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FinCEN proposes lower threshold for transaction data-gathering under FATF’s ‘travel rule’ including those made with crypto














Source: https://www.theblockcrypto.com/linked/82229/fincen-proposes-lower-threshold-for-transaction-data-gathering-under-fatfs-travel-rule-including-those-made-with-crypto?utm_source=rss&utm_medium=rss

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