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CryptoCompare and Fintech Worldwide Announce London Blockchain Week Partnership

CryptoCompare, the global leader in digital asset data, and Fintech Worldwide (FWW), the world’s leading network for fintech, blockchain and digital impact, today announced an event partnership.

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2020-01-20

London, 20 January 2020 – CryptoCompare, the global leader in digital asset data, and Fintech Worldwide (FWW), the world’s leading network for fintech, blockchain and digital impact, today announced an event partnership. The partnership will convene the 6th annual London Blockchain Week, during which more than 4,000 participants are expected to participate in major conferences and community events throughout 4th-11th March 2020. 

The series of events will cover the latest news and trends in blockchain, digital assets and decentralised finance – including the flagship CryptoCompare Digital Asset Summit on 10th March and Blockchain Week Summit on 5th-6th March. 

Dr. Jane Thomason, CEO of Fintech Worldwide, said:

“This is our first London Blockchain Week since taking over Fintech Worldwide and we are intent on making this a memorable week for the London Blockchain ecosystem. We are very excited to be partnering with CryptoCompare, a market leader in the digital asset space. CryptoCompare’s annual Digital Asset Summit is one of the most hotly anticipated conferences during London Blockchain Week and we look forward to working together to deliver a stand-out series of events.”

Charles Hayter, Co-Founder and CEO of CryptoCompare, said:

“We are delighted to be partnering with London Blockchain Week, the leading forum dedicated to the digital asset and blockchain industries.  We look forward to bringing together institutions, individuals, regulators and innovators to discuss the burning issues and latest technologies in our industry.”

Tickets available here.

 – Ends –

Contact
press@cryptocompare.com
research@cryptocompare.com

About CryptoCompare
CryptoCompare is the global leader in digital asset data. Institutional and retail investors rely on the company for real-time, high quality data spanning 3,200+ coins and 150,000+ currency pairs. By aggregating and analysing tick data from globally recognised exchanges and seamlessly integrating multiple datasets, CryptoCompare provides a comprehensive, granular overview of the market across trade, order book, historical, social and blockchain data.  For more information, please visit https://data.cryptocompare.com

About Fintechworldwide
Fintechworldwide is the world’s leading network for fintech, blockchain and digital impact and a partner and correspondent in the Fintech Global Network bringing global news, stories and  interviews on digital assets and social impact.
https://www.fintechworldwide.com
https://fintech.tv

Blockchain

Bitcoin dominance is an irrelevant metric unless…

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The volatile cryptocurrency market has given way to multiple metrics for the market observers to analyze and predict what’s coming next. One such metric has been Bitcoin dominance, but as per Su Zhu, it should not be relevant to you unless you are a billionaire.

How so?

The CEO of Three Arrows Capital opined this after noticing the trend of the newcomers avoiding Bitcoin and Ethereum and opting for risky crypto tokens. When the largest digital asset was stuck in a wider correction period, altcoins like Dogecoin [DOGE] grabbed much attention. This was possible due to the hype created by Tesla CEO or, self-proclaimed “doge-father,” Elon Musk and the Doge community.

However, understanding the newcomers’ enthusiasm Zhu opined that if he were to bet on projects now, he would choose Solana and Avalanche.

Despite the popularity of altcoins, the exec remained bullish on Bitcoin and Ethereum as he expected, the former to flip gold’s market cap, and the latter to eventually hit a value above $25,000. Bold predictions, but nothing we haven’t heard before.

However, newcomers were more bothered about the dominance metric but as data suggested, Bitcoin dominance has recently been falling. The dominance was hit earlier but recovered to form a peak at 49.25% on 30th July. But given the correction phase that followed, the dominance of BTC fell and was last noted to be at 40% on 10th September.

It is interesting to note that despite plenty of adoption related news such as that of El Salvador, coming in over the past few weeks, it looks like the dominance has remained unaffected by it.

Source: CoinMarketCap

Twitter user and crypto enthusiast, @HsakaTrades also noted that Bitcoin dominance was not a relevant metric for anyone who has a “sub mid 9fig portfolio]. Agreeing with Hasaka, Zhu added,

“To clarify, if you’re holding for 5+ yrs, you shouldn’t be thinking about btc dominance in the first place. And obv btc and eth have a strong place in that portfolio.

If you’re allocating actively atm, and think debating btc v eth v alts is a good framework, you’re ngmi.”

While this advice could stand true for experiences, long-term trader interested in making money, but not the ones looking out to invest in tech. This was especially highlighted in the comments wherein the crypto users were upset about the CEO’s Solana [SOL] recommendation that recently witnessed an outage.

Nevertheless, the trading advice and strategies differd from trader to trader and Zhu’s opinion to not focus on the BTC dominance, prebably stemmed from a hodlers perspective. While interesting projects were now erupting in the crypto space, it looks like Bitcoin’s dominance, not only in terms of price, but as a crypto project could be challenge.

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Source: https://ambcrypto.com/bitcoin-dominance-irrelevant-for-anyone-not-10figs

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U.S. Treasury Targets Stablecoins in Latest Regulatory Risk Assessment

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As regulatory pressure mounts in the U.S., policymakers are putting stablecoins at the top of their agendas.

Citing “people familiar with the matter,” Bloomberg has reported that officials are crafting a policy framework set to be released in the coming weeks. Their primary concern is ensuring that investors can reliably move money in and out of tokens, it added.

The anonymous insiders are worried that a “fire-sale run on crypto assets could threaten financial stability and that certain stablecoins could scale up dangerously fast.”

Strengthening Regulatory Efforts

The Financial Stability Oversight Council is also preparing a formal review into whether stablecoins pose an economic threat.

The officials are focusing on how stablecoin transactions are processed and settled and whether market conditions have an impact, it added. Tomicah Tillemann, global head of policy at a crypto fund run by venture capital giant Andreessen Horowitz, commented:


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“It is significant and very consequential that we are witnessing early steps to create a regulatory framework around digital assets. That’s a big deal.”

The report, when released, will go to the President’s Working Group on Financial Markets. The body includes key agency heads such as Treasury Secretary Janet Yellen, Federal Reserve Chair Jerome Powell, and Securities and Exchange Commissioner Chair Gary Gensler.

In late July, Yellen called for urgency in regulating stablecoins after stating that they are not adequately supervised. Gary Gensler echoed the sentiment in early August, stating that regulators must act to protect investors from fraud.

Also, in late July, Acting Comptroller of the Currency, Michael Hsu, said regulators are looking into Tether’s commercial papers to see whether each USDT token was really backed by the equivalent of one U.S. dollar.

Tether has repeatedly issued assurances that its reserves are fully backed but has yet to produce a full independent audit.

Stablecoin Ecosystem Update

Tether remains the market leader with a current supply of 69.4 billion, according to the Tether Transparency report. This is close to the all-time high for USDT, which tapped 70 billion earlier this week.

Of that total, 36 billion or 51.8% is based on the Tron network, with 33.8 billion or 48.7% running on Ethereum. USDT supply has grown by 232% since the beginning of the year.

Rival stablecoin, USDC, from Circle currently has 29.3 billion in circulation after gaining 651% in terms of supply growth so far in 2021.

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Source: https://cryptopotato.com/u-s-treasury-targets-stablecoins-in-latest-regulatory-risk-assessment/

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Blockchain

Cardano, Chainlink, MATIC Price Analysis: 19 September

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Most altcoins in the market have been consolidating or recording losses over the last 24 hours. Cardano fell by 3% and inched closer to the support line of $2.20. Chainlink also depreciated by 5% and was trading closer to its three-week low price. Lastly, MATIC was seen moving closer to its one-week low price of $1.29 after registering a loss of 5% over the past day.

Cardano (ADA)

Cardano, Chainlink and MATIC Price Analysis: 19 September

ADA/USD, TradingView

Cardano lost 3% of its valuation over the last 24 hours. The altcoin was priced at $2.33. Over the last few days, ADA has been consolidating. The nearest support line for the coin stood at $2.20 and then at $1.72. 

On the four-hour 20-SMA the alt’s price was seen below it, indicating that the momentum belonged to the sellers. The Relative Strength Index was below the 50-mark. The Chaikin Money Flow also was seen below the half-line as capital inflows were low.

MACD witnessed a bearish crossover and flashed red bars on its histogram. If ADA moved on the upside, the first resistance mark stood at $2.49, toppling which it could retest $2.79. The other price ceiling stood at the multi-month high of $3.04. 

Chainlink (LINK)

Cardano, Chainlink and MATIC Price Analysis: 19 September

LINK/USD, TradingView

Chainlink was priced at $27.80 after it recorded a loss of 5% over the last 24 hours. LINK’s nearest price floor was at $27.78. Falling below which the coin could trade near its three-week low of $24.45. 

Parameters pointed towards negative price action. On the four-hour chart, LINK’s price was below the 20-SMA. This reading suggested price momentum was inclined towards the sellers. The Relative Strength Index was below the half-line.

Awesome Oscillator flashed red signal bars. MACD also displayed red bars on its histogram. On the flipside, once buying pressure revives, the altcoin could attempt to retest the $32.37 resistance mark and then revisit $35.83. 

Polygon (MATIC)

Cardano, Chainlink and MATIC Price Analysis: 19 September

MATIC/USD, TradingView

MATIC depreciated by 5% and was trading at $1.39. The altcoin’s immediate support line was at $1.29 which also is the one-week low price level. The other price floor was at its over a month-long low price point of $1.07. 

Bollinger Bands converged, indicating that price volatility would remain low over the upcoming trading sessions. MACD was bearish with red bars on its histogram. The Relative Strength Index was also seen below the half-line. 

MATIC’s movement on the upside could mean that the coin would meet with its first resistance at $1.42 and then at $1.54. Toppling over these levels, the coin could revisit its multi-month high of $1.76.

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Source: https://ambcrypto.com/cardano-chainlink-matic-price-analysis-19-september

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