Markets

[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...

Ripple price started an upside correction above the $0.6200 resistance against the US dollar. The price is now trading near the $0.6500 resistance and the 55 simple moving average (4-hours). There is a key bearish trend line forming with resistance near $0.6600 on the 4-hours chart of the XRP/USD pair (data source from Bittrex). The pair could start a major increase if it clears the $0.6500 and $0.6600 resistance levels. Ripple price is slowly recovering above $0.6200...

With Grayscale Bitcoin Trust (GBTC) biggest BTC unlocking event scheduled to happen in the middle of July, many market analysts and traders are worried about the potential effects of this event on bitcoin’s price and the crypto market in general. However, crypto trading firm, QCP Capital, believes the unlocking will not pose any significant threat to the market’s balance. What Is The GBTC Unlock? Grayscale Bitcoin Trust is the largest traded crypto fund in the world, owned by...

Approximately 8 out of 10 wealth managers and institutional investors from the US, France, Germany, the UAE, and the UK said they would enhance their crypto exposure between now and 2023. 40% of them plan to “dramatically increase their holdings.” High Hopes on Crypto A recent survey conducted by a European investment manager dedicated to cryptocurrencies – Nickel Digital Asset Management (Nickel) – revealed that more than 80% of the asked investors expect to increase their...

Binance, the world’s largest cryptocurrency exchange by trading volume for recent years, has faced lots of scrutiny from various watchdogs lately. Keeping in mind that it’s one of the most important companies in the crypto industry, as of today, it’s worth exploring what could be the impact of this threat for the entire industry, or whether it’s just a temporary FUD. The Growing List of Regulators After Binance Founded in 2017 following a successful $15-million ICO, Binance...

Bitcoin’s calm weekend continues as the asset has stalled in a tight range between $33,000 and $34,000. Most alternative coins are performing similarly with minor moves in either direction. Bitcoin Stalls at $33.5K Bitcoin tested $35,000 during the workweek but failed to breach it, and the bears pushed it down south. In a matter of days, the cryptocurrency fell by nearly $3,000, resulting in a two-week bottom of just over $32,000. Nevertheless, the trajectory reversed shortly...

Bitcoin and the cryptocurrency space have fallen hard in recent weeks, but according to Oppenheimer analyst Owen Lau, these moves should not be affecting Coinbase stock, and the exchange’s public listing does not deserve to get swept under the bus. Coinbase Should Not Be Associated with BTC’s Drops Coinbase made its public debut on the Nasdaq in mid-April. At first, things started out great. Stock shares in the exchange began at more than $300 each, while bitcoin...