The New York Digital Investment Group LLC (NYDIG) has received approval from the United States Securities and Exchange Commission (SEC) to offer its shares to institutional investors, including registered investment advisers, their clients and other eligible investors.
The fund aims to invest in cash-settled BTC futures traded on exchanges that are registered with the U.S. Commodity Futures Trading Commission. Though the increasing number of offerings by various companies targeting the institutional investor is a positive sign, the larger players have been slow to invest in the space due to regulatory concerns and high volatility.
Crypto market data weekly view. Source: Coin360
While the institutions have been cautious, China has been racing ahead in developing blockchain technology for “real-world, practical use cases that are far beyond the experimental stage,” according to a report by Forkast Insights, the research arm of Asia-based Forkast. This is a positive sign for the crypto space for the long-term.
A report by crypto exchange SFOX shows that Bitcoin searches usually peak before the holidays. The firm said that Bitcoin’s price rallied for three consecutive days before Thanksgiving on Nov. 28.
Will the price move higher before Christmas? We will have to wait and see. Meanwhile, let’s analyze the charts of the top-five performers to see whether they show any bullish patterns.
Tezos (XTZ) was the top performer of the past seven days by a huge margin. The traders cheered the news that Binance would support zero-fee staking for Tezos from Dec. 4. The rewards would be calculated daily and distributed monthly. Can the altcoin extend its momentum in the coming week? Let’s analyze its chart.
XTZ/USD weekly chart. Source: Tradingview
The XTZ/USD pair has been taking support close to the 20-week EMA for the past three weeks. The 20-week EMA has started to turn up and the RSI has jumped into the positive territory, which shows that bulls have the advantage. There is a minor resistance at $1.414152, above which a rally to $1.85 is likely.
A breakout of $1.85 will be a huge positive that will signal the start of a new uptrend. Above this level, a rally to $2.87 and then onwards to $3.37 is likely.
Contrary to our assumption, if the price turns down from the current levels or from the overhead resistance at $1.85, a few days of range-bound action is likely. The pair will weaken on a break below the critical support at $0.829651.
This is the second week in running that Cosmos (ATOM) has been among the top-performing major cryptocurrencies, which shows that it is backed by momentum. Can the altcoin build on its strength in the coming week or is it time to book profits? Let’s analyze the chart.
ATOM/USD weekly chart. Source: Tradingview
The bulls are attempting to propel the ATOM/USD pair above the overhead resistance at $4.4389. If successful, the pair will start a new upward move that can reach $7. Therefore, the traders can initiate long positions on a close (UTC time) above $4.4389, as suggested in our earlier analysis.
Contrary to our assumption, if the bears defend the overhead resistance at $4.4389, the price might dip to the first support at $3. If this level holds, range-bound action between $3 and $4.4389 might ensue. However, if $3 breaks down, a drop to $1.9101 is likely.
We expect the bulls to aggressively defend $1.9101. A bounce from this support will keep the price inside the large range between $4.4389 and $1.9101.
Ripple released a total of 1 billion XRP tokens from its escrow wallet on Dec. 2 but returned it back within seven minutes. Some believe that Ripple dumping XRP has led to a decrease in the token price. However, the company claims that selling is needed to grow its ecosystem and to fund its operations.
In the ongoing court case to determine whether XRP is a security or not, Ripple has filed a motion to dismiss the class-action suit arguing that even if XRP were a security, the statute of repose had passed before the lawsuit was brought to court.
Following the footsteps of MorningStar Japan, Japanese financial services giant SBI Holdings plans to pay shareholder dividends in the form of XRP tokens. Do the fundamental developments offer hope of a turnaround in prices? Let’s analyze its chart.
XRP/USD weekly chart. Source: Tradingview
The failure of the bears to capitalize on the break below the critical support at $0.22 indicates buying at lower levels. The bounce from the yearly low at $0.20041 has risen back above $0.22, which is a positive sign. If the bulls can propel the XRP/USD pair back above $0.24508, it will indicate that the markets have rejected the lower levels. We would turn positive if the price sustains above $0.24508.
However, if the bulls fail to push the price above $0.24508, the bears will again attempt to sink the price back below $0.20041. If successful, a drop to $0.18 is possible.
The Monero (XMR) network successfully upgraded to RandomX on Nov. 30. The new upgrade uses random code execution together with memory-focused techniques and aims to be ASIC-resistant. Can the hard fork boost the price? Let’s study its chart.
XMR/USDT weekly chart. Source: Tradingview
The XMR/USD pair has reached close to the resistance line of the ascending channel. A breakout of the channel will be a positive sign but it is likely to face stiff resistance at the moving averages.
If the price turns down from the moving averages, a drop to $38.83 to $45.4494 support zone is likely. If this support zone holds, the pair might consolidate for a few weeks before making its next directional move.
Conversely, if the bulls succeed in propelling the price above the moving averages, a rally to $98 and above it to $121.4270 is likely. Therefore, we retain the buy recommendation given in an earlier analysis.
In its attempt to expand support to various fiat currencies for crypto trading, Binance listed four ruble trading pairs on Dec. 2.
On Dec. 3, the exchange announced the acquisition of decentralized app (DApp) information startup DappReview for an undisclosed amount.
“This acquisition marks a significant step into the dapps ecosystem, and we will have more exciting developments in the near future,” said Binance CFO Wei Zhou.
Will these steps help in boosting the price of Binance Coin (BNB)? Let’s see what the technicals are showing.
BNB/USDT weekly chart. Source: Tradingview
The bulls have successfully defended the support at $14.2555 for the past three weeks. However, the rebound off the support has been weak, which shows a lack of aggressive buying at the current levels. The moving averages are on the verge of a bearish crossover, which is a negative sign.
If the bulls fail to propel the price above $16.50 within the next few days, the bears will attempt to sink the price back below $14.2555. A breakdown of the support will be a huge negative and can drag the price to $11.30.
Conversely, if the BNB/USD pair rises above the immediate overhead resistance at $16.50, a rally to $21.2378 is possible.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.
The market data is provided by the HitBTC exchange.
Published at Sun, 08 Dec 2019 16:12:00 +0000
Coinbase Custody selected by 21Shares for Bitcoin ETP
Today we’re proud to announce that 21Shares AG has chosen Coinbase Custody to store its digital assets for its Bitcoin ETP. 21Shares AG is listing its 21Shares Bitcoin ETP (ISIN: CH0454664001 — WKN A2T64E) on the Deutsche Börse’s Xetra electronic venue on Thursday July 2nd 2020. Coinbase Custody will serve as custodian for the underlying assets of their Bitcoin ETP.
21Shares selected Coinbase Custody after reviewing our institutional-grade offline storage solution, which includes world-class security, regulatory compliance and insurance coverage. Coinbase is committed to serving a wide spectrum of institutional clients and we are excited to be the chosen custodian for the 21Shares Bitcoin ETP, Europe’s first physically-backed bitcoin ETP.
Hany Rashwan, CEO at 21Shares AG, says, “21Shares is delighted to bring this historic product to Europe. We are honored to give investors access to the best performing asset class of the last decade and we believe the next ten years as well, through our simple, transparent, and regulated crypto ETP product suite.”
Coinbase Custody is the world’s largest and most trusted crypto custodian. To learn more about Coinbase Custody click here.
Compound (COMP) is now available on Coinbase Earn
Earn COMP while learning how to borrow crypto and earn interest with Compound
Coinbase’s mission is to create an open financial system, where anyone in the world can participate on equal terms from their computer or smartphone. To bring this vision to life, we’ll need to make blockchain technology more accessible, both in the sense of making cryptocurrencies easier to obtain and easier to understand.
Coinbase Earn is a trusted source where customers all around the world can educate themselves about new developments in crypto and earn assets as rewards. Starting today, Coinbase customers can start earning Compound (COMP) by watching lessons and completing quizzes about the Compound protocol and its governance token COMP.
Compound (COMP) is an Ethereum token that governs the autonomous Compound protocol. The protocol allows anyone to borrow and lend Ethereum tokens through a decentralized market. Lenders earn interest on the crypto they supply to the protocol and borrowers pay interest to borrow it.
The ability to earn crypto assets has become an increasingly important function in the crypto ecosystem — alongside buying, staking, voting, and mining — especially when paired with education.
Since the launch of Coinbase Earn in 2018, we’ve announced nine different assets, including 0x, Basic Attention Token, Zcash, Stellar Lumens, EOS, Dai, Tezos, Orchid and now Compound. In less than a year, asset issuers offered over $100M in crypto to distribute to our customers, and we have launched Earn internationally. As we expand globally, millions of people are gaining access to a trusted, secure, and legal bridge to the crypto economy — even if they don’t have a credit card or bank account with which to buy crypto.
Check out all Coinbase Earn campaigns through our homepage or access them directly through the Coinbase mobile app.
Coinbase receives a servicing fee from the participating asset issuer. Consideration for Coinbase Earn is wholly independent of our digital asset framework for new listings. Click here for our Earn FAQ and terms.
Compound (COMP) is now available on Coinbase
Starting today, Coinbase supports Compound (COMP) at Coinbase.com and in the Coinbase Android and iOS apps. Coinbase customers can now buy, sell, convert, send, receive, or store COMP. COMP will be available for customers in all Coinbase-supported regions, with the exception of New York state.
Compound (COMP) is an Ethereum token that governs the Compound protocol. The protocol allows anyone to supply or borrow Ethereum tokens through a decentralized market. Suppliers earn interest on the crypto they supply to the protocol and borrowers pay interest to borrow it.
One of the most common requests we hear from customers is to be able to buy and sell more cryptocurrencies on Coinbase. We published a process for listing assets, designed in part to accelerate the addition of more cryptocurrencies. We are also investing in new tools to help people understand and explore cryptocurrencies. We launched informational asset pages (see COMP here), as well as a new section of the Coinbase website to answer common questions about crypto.
You can sign up for a Coinbase account here to buy, sell, convert, send, receive, or store COMP today.
Coinbase owns COMP tokens as a result of a 2018 investment in Compound. Coinbase intends to maintain its investment in Compound for the foreseeable future and maintains internal policies that address the timing of permissible disposition of its digital assets, including COMP tokens.
The VR Job Hub: Asobo Studio, ARVI & Fun Train
Yield Farming Fuels Buzz Around DeFi, but Fundamentals Are Lagging
South Korean Beachgoers Can Now Use Bitcoin to Pay for Services
Price Highs, Bull Runs, and Thieves: Bad Crypto News of the Week
Massive Short Squeeze Prompts Chainlink (LINK) Price to Rally 52%
Cryptocurrency Cards: An Unnecessary Solution That Should Be Stopped
Kava Labs Partners with BNB48 Club to Raise BNB DeFi Awareness
Real Estate Blockchain Firm Ubitquity to Build Tokenized Title Platform
Cryptocurrency News From Japan: August 2 – August 8 in Review
Polish Financial Watchdog Impersonated by Crypto Scammers
Chinese State Grid Launches Blockchain-Based Blackout Insurance Policy
Mobile DeFi and the Shift Toward Self-Sovereignty
BTC and ETH Crypto Derivatives in Demand, Market Expected to Grow Further
Virginia Supreme Court Grants Temporary Moratorium on Evictions
Bitcoin is Almost as Big as Bank of America
The Price of Bitcoin Is Facing Its Final Resistance Zone Before $15K
Virtual Reality: The Solution for the Present and Future of Events — Simlab IT
FREE Webinar September 17: Hemp CBD Q&A
Richard Stallman: A Discussion on Freedom, Privacy & Cryptocurrencies
VR Escape Room Specialist ARVI Partners With HTC Vive to Expand Global Deployment
Slow But Steady: FATF Review Highlights Crypto Exchanges’ Struggle to Meet AML Standards
Première biopsie liquide à recevoir l’approbation de la FDA pour le profilage complet des tumeurs dans tous les cancers solides, le diagnostic compagnon Guardant360® de Guardant Health gagne en crédibilité auprès des oncologues en Asie, au Moyen-Orient et en Afrique.
2 Out Of 3 Churchgoers: It’s Safe To Resume In-Person Worship
Title Token for Blockchain Estate Registry, Part 3
Eerily Accurate Analyst Thinks Bitcoin Could Hit $20,000 in the Next 3 Months
Ransomware Attacks Demanding Crypto Are Unfortunately Here to Stay
Ever-Glory To Report Second Quarter 2020 Earnings on August 14, 2020
Bitglass Security Spotlight: Over 200k Instacart Users’ Data Is Being Sold on Dark Web
Analysts Fear an Ethereum Drop to $300 As Price Becomes “Heavy”
WeissLaw LLP Reminds GRUB and NBL Shareholders About Its Ongoing Investigations
SHAREHOLDER ALERT: WeissLaw LLP Reminds OTEL and DCOM Shareholders About Its Ongoing Investigations
SHAREHOLDER ALERT: WeissLaw LLP Reminds MXIM and TORC Shareholders About Its Ongoing Investigations
WeissLaw LLP Reminds CNXM and ONDK Shareholders About Its Ongoing Investigations
Major South Korean Bank Joins the Crypto Custody Business
Bullish Bitcoin Price Trend Intact Even After BTC Retests $11.4K Support
BitMEX Leaderboard Trader Fears Bitcoin Could See a Second “Flash Dump”
Analyst: Bitcoin May “Teleport” to $13,000 if It Breaks Key Level
Adam Back: Some ICOs Funded Useful Research Despite Being Unethical
Gov. Cuomo Clears The Way For In-Person Learning At Schools In New York State
An Official North Dakota Cryptocurrency Could Be on the Horizon
AI1 week ago
Deploying a server for Rasa X chatbot
AR/VR1 week ago
Onward On Oculus Quest Review: Lock And Load Without Wires
AI1 week ago
News Wrap, Feat. Epiq, LexisNexis + TermScout
AI1 week ago
Three AI companies join a business development group built by the London Stock Exchange
AI1 week ago
An automated health care system that understands when to step in
AR/VR1 week ago
Polybius Dev’s Next Psychedelic VR Game Is Moose Life, Arrives In August
AI1 week ago
8 Ways How AI is Transforming the Sports Industry?
Automotive1 week ago
Gestamp records H1 net income loss of EUR120m