Day: January 24, 2019

Crypto Market Update: EOS, Tron (TRX), Bitcoin Cash, ADA Price Analysis

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The total crypto market cap tested the $117.50B resistance and later corrected lower. EOS price is currently correcting lower and it may test the $2.40 support level. Bitcoin cash price tested the $130 resistance and it is currently moving lower towards $126. Tron (TRX) price remains in an uptrend and it could accelerate towards the $0.0300 level. Cardano (ADA) price settled above $0.0420 and it is currently consolidating in a tight range. The crypto market started a downside correction after yesterday’s recovery. Bitcoin (BTC), EOS, Ethereum, BCH, ripple, ADA and…

Ripple Price Analysis: XRP Could Dip and Rip Above $0.3200

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Ripple price spiked above the $0.3210 level recently and later dipped below $0.3150 against the US dollar. There is a declining channel in place with support at $0.3130 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could dip below the $0.3130 support before it may bounce back above $0.3160 and $0.3200. Ripple price is slowly retreating from recent highs against the US Dollar and Bitcoin. XRP/USD is likely forming a dip and rip scenario with supports near the $0.3120 and $0.3110 levels. Ripple Price…

Ethereum Price Analysis: ETH Remains A Sell Until It Breaks $120

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ETH price tested the $119-120 resistance area and failed to gain strength against the US Dollar. There is a short term declining channel formed with resistance near $118 on the hourly chart of ETH/USD (data feed via Kraken). The pair is currently at a risk of more losses as long as it is trading below the $118 and $120 hurdles. Ethereum price failed to stay in the positive zone against the US Dollar and bitcoin. ETH/USD trimmed most its gains and it is likely heading towards the $114 support level.…

Bitcoin ETF Hype Persists Despite VanEck, CBOE Debacle

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VanEck, SolidX, CBOE Bitcoin Efforts Curbed On Wednesday afternoon, the SEC released one of the most important crypto-related documents to-date. The two-page document, authored by SEC deputy secretary Eduardo A. Aleman, revealed that the Chicago Board Options Exchange (CBOE) had withdrawn its proposed rule change that would have facilitated the listing of VanEck and SolidX’s collaborative Bitcoin ETF. Therefore, the exchange, U.S.’ largest options market, effectively killed the proposal, which garnered mounds of support heading into 2018’s year-end. This document was filed on January 22nd, just earlier today. Speaking on CNBC’s “ETF Edge”…

SEC Filing for Vaneck Solidx Bitcoin ETF Withdrawn

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Finance Cboe BZX Exchange has withdrawn its filing with the U.S. Securities and Exchange Commission (SEC) for Vaneck Solidx bitcoin ETF. The U.S. government is currently shut down and the ETF could have been automatically approved had it not been withdrawn. Vaneck says that the withdrawal is temporary as it is actively working to “build appropriate market structure frameworks for a bitcoin ETF.” Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations Bitcoin ETF Filing Withdrawn The SEC announced on Wednesday that Cboe BZX Exchange Inc. has…

New Exchange Claims It Can Tokenize Shares of AirBnb, Uber, SpaceX

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Crypto startups Zilliqa and MaiCoin have teamed up to create a centralized security token exchange in Singapore that will apply blockchain technology to the trading of traditional asset classes. Launched today, Hg Exchange aims to act as a “one-stop solution” for token issuers, buyers, sellers and market makers, providing participants access to privately held shares and security tokens. Hg claims to be the first “member-driven exchange” in southeast Asia seeking to merge the traditional finance industry with the nascent crypto space, meaning any participants in the platform must go through…

$20 Million Funding Round in Blockchain Firm Symbiont Includes Citigroup and Nasdaq

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Citigroup and Nasdaq are among a group of firms investing $20 million dollars in Symbiont.io Inc, Bloomberg reports on Jan. 23. Other investors reportedly include Mike Novogratz’s crypto-focused merchant bank, Galaxy Digital Holdings. Symbiont’s blockchain and smart contract platform, Assembly, will be applied in capital markets. The offering purportedly allows financial institutions to share and verify data, and uses smart contracts to accelerate settlement times for syndicated loans and streamline mortgage bond markets. According to Bloomberg, Symbiont will use the funds to work on private equity, mortgages, data management, and…

Blockchain Investor Claims Bitcoin (BTC) Will Plunge To $0

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Economists Bash Bitcoin In The Swiss Alps Bashing Bitcoin (BTC) has apparently become a popular trend at Davos’ recent World Economic Forum event. More specifically, the cryptocurrency has become a punching bag. Just yesterday, per previous reports from Ethereum World News, Huw Van Steenis, the senior advisor to Bank of England’s governor, Mark Carney, bashed this nascent asset class. Speaking to Bloomberg in a candid interview, Steenis, who purportedly is compiling a report about the future of finance, surprisingly claimed that cryptocurrencies, like Bitcoin aren’t on his radar, or list of concerns…