Markets

Jihan Wu, the founder and former CEO of the crypto mining company Bitmain, believes regulations are necessary for the cryptocurrency industry. In fact, they could be beneficial for the space as it would isolate it from bad actors and fraudulent activities. Wu: Crypto Regulations Are Healthy The topic of implementing a legislative framework around the crypto market has become wildly discussed in the past year or so as prices blossomed to new highs. Global watchdogs have...

ADA price started a fresh decline after it failed to surpass $1.50 against the US Dollar. The price is now trading well below $1.35 and the 55 simple moving average (4-hours). There was a break below a key rising channel with support near $1.38 on the 4-hours chart (data feed via Bitfinex). The price is likely to continue lower below the $1.25 support level in the near term. Cardano price is trading in a negative zone below $1.35 against the US Dollar, similar to...

Ethereum price failed to recover above $2,200 and started a fresh decline against the US Dollar. ETH price is now trading well below $2,200 and the 55 simple moving average (4-hours). There was a break below a major bullish trend line with support near $2,100 on the 4-hours chart (data feed from Coinbase). The pair is likely to accelerate lower if there is a close below the $2,000 support zone. Ethereum price is struggling to stay above $2,000 against the US Dollar....

Cryptocurrency startup Circle is taking a page right out of the “book of Coinbase” and has announced plans to go public. Circle Is Set to Go Public The company first needs to complete a merger with Concord Acquisition Corp., a special acquisition company led by the former CEO of Barclays Bob Diamond. This merger means Circle will soon boast a valuation of approximately $4.5 billion, making it one of the most powerful crypto-centered firms in the digital space. The news...

CryptoPotato had the opportunity to host a discussion with Lennix Lai – the Financial Markets Director at OKEx. Established in 2017, OKEx is one of the leading cryptocurrency exchanges in the world by means of trading volume and is also a big player in China. We took the opportunity to discuss, first hand, what’s currently going on in the market from both a retail and institutional perspective, as well as what’s actually happening in China. $60K Bitcoin In...

Although the CEO warned that anything could happen, he believes that the total 40,000 GBTC to be unlocked soon would not really affect Bitcoin.The CEO of FTX Sam Bankman-Fried has said that the unlocked Grayscale Bitcoin Trust (GBTC) shares which could be sold sometime soon, may not affect the price of Bitcoin. According to the crypto derivatives exchange CEO, the possible GBTC push into the secondary market “does not matter much” for Bitcoin.In a recent tweet, Bankman-Fried said that there...

[PRESS RELEASE – London, United Kingdom, 12th July 2021] Nexo, the leading regulated institution for digital assets, has completed a strategic investment in Yield Inc, a company leading efforts to build the Yield Protocol – an Ethereum protocol that enables fixed-rate borrowing and lending by fostering the nascent DeFi bond market – as part of the company’s $10-million Series A funding round. Nexo aims to not only provide necessary funding but also to help Yield’s efforts to...

One of the largest financial institutions in South Korea – Woori Financial Group – will offer crypto custody services to its clients. Its banking unit – Woori Bank – will launch the initiative in a partnership with the fintech solutions provider – Coinplug Inc. Woori Bank Dives into Crypto According to a report from The Korean Economic Daily, Woori Bank will be the next South Korean bank to enter the digital asset custody services (DACS) market. The institution teamed up with...

The trading volumes remained low during the weekend once again, but bitcoin jumped by more than $1,000 in a day to a high of around $34,700. The alternative coins have also bounced off and reclaimed some ground, with BNB exceeding $330 and XRP spiking by 5%. Bitcoin Tops $34K Despite Minimal Volume The scenario in the past two weekends was quite similar, and we didn’t see much going on. As a result, the trading volume reached multi-month lows, according to data from...

Stellar lumen price tested the $0.2320 support before correcting higher against the US Dollar. XLM price is now facing resistance near $0.2550 and the 55 simple moving average (4-hours). There was a break above a major bearish trend line with resistance near $0.2480 on the 4-hours chart (data feed via Kraken). The pair is likely to start a steady increase if there is a break above the $0.2550 resistance. Stellar lumen price is facing hurdles near $0.2500 and $0.2550...