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SiGMA Manila, AIBC Manila expos postponed until May 2021

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ProSeed offers a diverse set of rewards

ProSeed offers a diverse set of rewards

SiGMA Group has announced that, due to the COVID-19 global crisis, both the SiGMA Manila and AIBC Manila expos, planned for June 8-9 2020, will now be rescheduled to May 27-28, 2021. 

In line with SiGMA Group’s commitment to facilitating new business opportunities for key players in the global iGaming and emerging tech sectors, and together with Clarion Gaming’s ICE Asia, SiGMA Manila will also carry out an online conference in 2020. ICE-SiGMA Asia DIGITAL will take place on June 8-10. Delegates can register for free here.

The three-day conference will cater to both gaming and tech audiences, with free-of-charge content geared towards bringing the industry together in what has been a difficult time for businesses. Delegates who register for the online conference will also get a free standard ticket for Manila 2021.

Founder and CEO of SiGMA Group, Eman Pulis said, “In line with SiGMA Group’s commitment to facilitating new business opportunities for key players in the global iGaming and emerging tech sectors, the digital conference will embrace the difficulties we are facing at a time when working together has never been more important. COVID-19 has provided a unique opportunity to rethink how we live and work.”

The interactive experience will feature a series of panel discussions and keynotes from leading industry contributors, bringing top speakers together for discussions that will engage the community and shape the future as we adapt to a fast-changing global environment.

After careful consideration, and due to growing concerns over the coronavirus (COVID-19), SiGMA Group has decided to reschedule their flagship Asia events SiGMA Manila and AIBC Manila  to May 27-28, 2021. The company said that while they remain committed to SiGMA Manila, the health and safety of their exhibitors, attendees, partners, and employees is of paramount importance, making this the only responsible course of action.

Clarion Gaming, Managing Director, Kate Chambers said, “My team and I continue to empathise with our Global Gaming community as well as industries and supply chains around the world that are being affected by COVID-19. We understand the deep impact the virus continues to have with our friends and colleagues across the Asia region and Globally, and our best wishes go out to them.

Founder and CEO, Eman Pulis said, “The situation with COVID-19 is still unpredictable but one thing is certain – we remain fully committed to the Asia front with SiGMA Manila. I moved with my family from Europe to Asia last year to make this work and leave no stone unturned. There’s just so many events being pushed to the second half of 2020, that, in everyone’s best interest we feel pushing the show to May 2021 gives us enough time to regroup and launch with a dynamite inaugural show.”

Together with Clarion Gaming’s ICE Asia, the Manila super show was set to take place on June 8-9 this year. SiGMA Group said that rescheduling the 10,000 attendee event is the only responsible course of action which will enable the successful events company to provide the experience that their customers, partners, and employees expect and deserve in a safe environment. 

About SiGMA Expo

SiGMA is a global event, positioned at the cutting edge of the iGaming industry, which has evolved since 2014 into the definitive iGaming showcase, operating on both a European and world stage. 

In 2019, the iGaming summit SiGMA in Malta welcomed a record ­breaking 15,000 attendees from over 80 countries and over 400 sponsors and exhibitors, and 200 industry­ leading speakers. 

The event facilitates growth within the iGaming sector and has now become the largest expo for the industry in Europe. 

Register here

Source: https://www.blockchaineventslist.com/sigma-manila-aibc-manila-expos-postponed-until-may-2021/

Blockchain

Brace for it – Bitcoin Futures may be nearing a tipping point

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What’s the tipping point for Bitcoin Futures on top derivatives exchanges like the CME, an exchange that has recorded a daily trading volume of over $300M and Open Interest of over $400M, consistently, for the past 3 months. 

Inching closer to the tipping point of Bitcoin Futures

Source: Skew

Well, a small shift in Open Interest or trading volume can have a cascading effect on Bitcoin Futures’ performance in the next 180 days. Such a shift will be influenced by several factors, and it begins at the tipping point. Three factors, to be more specific. 

In the current phase of Bitcoin’s market cycle, these factors are more relevant for traders on derivative exchanges. This becomes more evident when the Liquidations chart for BitMEX is observed. Over the past 3 months, sell liquidations have paid for buy liquidations. However, over the last few days, this trend has been reversed, and buy liquidations have covered for sell liquidations on BitMEX.

Inching closer to the tipping point of Bitcoin Futures

Source: Skew

The point here is to detect the source of the domino effect before the dominoes start falling. In the case of Bitcoin Futures, the tipping point may be closer than anticipated. 

One of the top factors influencing the tipping point is the Law of the Few. 

The Law of the Few states that “the success of any kind of social epidemic is heavily dependent on the involvement of people with a particular and rare set of social gifts.”

In the case of Bitcoin, institutional investors, derivatives traders, and whales fit the bill. The success of Bitcoin Futures in the global trading community heavily relies on institutional investors trading on CME. In fact, the daily trade volume and Open Interest on CME influence the trading sentiment across spot exchanges as well. 

The last time a cascading effect was witnessed was when BTC Futures’ Daily Trading Volume hit $445M on CME and there was a rally all the way up to $614M. At the time of writing, the Daily Trading Volume was up 63.3%, when compared to the figures 6 months ago, and it has the potential to hit $614M with one move in the right direction.

This effect heavily relies on another key factor – The Stickiness Factor.

Back in 2017, when Google search results for “Bitcoin” and “Crypto” broke the record, the trading community witnessed a historic Bitcoin bull run and altcoin rally. Institutional interest and growth of Bitcoin derivative products ensued. A similar event transpired when Bitcoin Futures’ aggregated daily volume hit $184B on 27 July 2020. This event was a unique occurrence, and it made Bitcoin Futures stick in the portfolio of the average institutional investor and the derivatives trader.

Inching closer to the tipping point of Bitcoin Futures

Source: Skew

The aggregate trade volume hasn’t dropped to pre-July 2020 levels since then. Despite drops in Bitcoin’s price on spot exchanges, Futures contracts continue to trade at a premium and there is more optimism. Volume is not directly impacted by Bitcoin’s price and when the spot market is riddled with bearish sentiment, long contracts continue feeding shorts on BitMEX. This stickiness is a driver of the aforementioned tipping point. 

Inching closer to the tipping point, the powerful context is the rise of stablecoins and their instrumental role in lowering the barrier to entry on spot and fiat-crypto exchanges.

Over the past three months, stablecoins like USDT have added $100M in volume every day and their market capitalization and dominance have risen tremendously. In fact, Tether has also crossed a market capitalization of $15B.

This directly influences the tipping point for Bitcoin Futures as it makes Futures trading more accessible to traders. Bitcoin held on exchanges has nearly doubled over the past month, corresponding to an increase in Tether’s market capitalization and circulation. This resonates with derivatives traders who opt for physically-settled Bitcoin Futures contracts on exchanges like Bakkt. In fact, on Bakkt, the daily trade volume was upwards of $80M for the past week, while the Open Interest has been consistently above $10M.

Inching closer to the tipping point of Bitcoin Futures

Source: Skew

All of these factors are highlighting a shift in derivatives traders’ strategy, while also underlining increased activity on derivatives exchanges. The race to the tipping point has begun – An increase in aggregate trading volume on physically-settled Futures contracts or CME may trigger the much-awaited domino effect.

Source: https://eng.ambcrypto.com/brace-for-it-bitcoin-futures-may-be-nearing-a-tipping-point

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Tron, Synthetix, VeChain Price Analysis: 19 September

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Tron was observed to have hit a strong zone of resistance, before being rejected and pushed to the downside, at the time of writing. In fact, such bearish momentum appeared likely to continue for TRX. At a time when Ethereum was increasingly being criticized for high Gas fees and a congested network, it could have been Tron’s moment to shine, but things didn’t pan out that way at all.

Further down the charts, Synthetix continued making lower highs in its downtrend while VeChain broke out upwards after a few days of relative calm.

Tron [TRX]

Tron, Synthetix, VeChain Price Analysis: 19 September

Source: TRX/USDT on TradingView

TRX was seeing oversold conditions a few days ago when its RSI hit a low of 23, before ascending just past 50. However, the RSI was unable to remain above 50, and its drop beneath the level highlighted the fact that TRX’s recent 12% surge from $0.263 to $0.296 was merely a bounce.

TRX found a zone of strong resistance at $0.3 and looked likely to drop towards the support at $0.265.

Interestingly, a recent Reddit post has raised questions about JustSwap’s vetting process, claiming that the Tron Foundation has whitelisted a DeFi project that has since pulled a $2 million exit scam. This, despite DappRadar listing the project as “high-risk.”

Synthetix [SNX]

Tron, Synthetix, VeChain Price Analysis: 19 September

Source: SNX/USD on TradingView

Synthetix underlined the possibility of dropping lower on the charts. The Directional Movement Index did not yet show a strong trend, but ADX (yellow) was inching towards 20 and could move further north. Also, the rising -DMI (pink) denoted a bearish trend.

Over the past week, every SNX bounce off the level of support has been overwhelmed by selling pressure. This can be expected to continue. With the price registering lower highs, the way down remained the path of least resistance for SNX.

The next level of support after $4.23 lay at $3.36, representing a 20% depreciation.

VeChain [VET]

Tron, Synthetix, VeChain Price Analysis: 19 September

Source: VET/USD on TradingView

VeChain showed bullishness in the market after a period of consolidation. The Bollinger Bands expanded to indicate heightened volatility, while the price broke out towards the upper band. At the time of writing, the price was staying above the 20-period moving average, a moving average that could be tested as support as VET steadily climbs toward its resistance around the $0.158 zone.

The breakout was also accompanied by high trading volumes, legitimizing the breakout.

Source: https://eng.ambcrypto.com/tron-synthetix-vechain-price-analysis-19-september

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Seoul Police Summons Bithumb Chairman For Interrogation

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The Seoul Metropolitan Police Agency has summoned the chairman of Bithumb for interrogation regarding the alleged fraud. The chairman of the firm, Lee Jung-hoon has been accused of a lot of fraud activities. The fraud is related to the failed listing of the BXA token and defrauding the investors.

As revealed in earlier reports, this token has been promoted as the native token of Bithumb. However, the token has never been launched or listed on any platform. Due to the promotion of a fake token, Lee is now involved in a huge fraud, which includes the damages of around $25 million funds of the investors.

Seoul Police Conducted Initial Investigation at Bithumb Office

It needs to be mentioned that this police raid did not happen all of a sudden as earlier also Seoul police had investigated this case. The initial investigation that police conducted was on September 02, 2020 at the office of Bithumb. Lee has also been accused of using the investors fund purchasing the properties overseas or some other offshore investments.

According to the latest report, Kim Byung-gun who is another chairman of Bithumb, is also accused of getting involved in this BXA fraud along with Lee. However, the Seoul Police did not send any summon for investigation to Kim regarding this case. 

Police Siezed The Shares Related to Lee

Along with this summon, the police has also siezed a lot of shares of the Bithumb Holdings that belonged to Lee. Not only this, the firm is also help responsible for a data breach incident which took place in 2017. Even though the exchange is accused of different allegations, it is still holding quite a firm position in the South Korean market. Not only in South Korea, it is still counted among the top ten largest crypto exchanges across the world. The daily trading volume of the exchange is around $250 million, which might be due to its huge user base.

READ  Tokenomica Begins OTC Desk Including BTC-EUR Pair

#Bithum Holdings #Bithumb #BXA token #Investigation at Bithumb Office #Kim Byung-gun #Lee Jung Hoon #Seoul Police

Source: https://www.cryptoknowmics.com/news/seoul-police-summons-bithumb-chairman-for-interrogation

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