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DBS Bank Issues Digital Bonds in First Security Token Offering 

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In hopes to grow its financial products on the DBS Digital Exchange (DDex), Singapore’s DBS Bank just announced its issuance of a $11.3 million digital bond in its security token offering (STO).

A security token offering is similar to that of an IPO, in that it’s a type of public offering where tokenized digital securities are sold on security token exchanges like DDex. In turn, these tokens can be used to trade equities, fixed income, and more. 

Related Reading | JP Morgan Partners with Singapore’s DBS to Launch Blockchain-based Payment Platform

The DBS Digital Bond, which is issued via DDEx, comes with a six-month expiry and a coupon rate of 0.60% per annum. DBS stated that this will allow other STO issuers and private clients to tap into DBS’ growing infrastructure to “efficiently access capital markets” for funding. 

Eng-Kwok Seat Moey, head of capital markets at DBS, said that his firm’s issuance of security tokens present an opportunity for corporations to seek alternative ways of fundraising from private capital markets.

“Our maiden STO listing on the DBS Digital Exchange is a significant milestone, as it highlights the strength of our digital asset ecosystem in facilitating new ways of unlocking value for issuers and investors.”

The bank expects tokenization to become more mainstream as it continues to expand its digital asset services. Considering that STOs on DDEx offer the same legal protection as the bank’s traditional offering such as securities, it’s certainly possible that more Asia-Pacific companies will embrace issuances as a valid method of raising capital. 

“We expect asset tokenization to increasingly become more mainstream as more of our clients start to embrace security token issuance as part of their capital fund raising exercise which we believe will boost Singapore’s ambitions to be a digital asset hub in Asia.”

Since DDEx’ launch in December of last year, DBS reported that the its daily cryptocurrency trading volumes have increased by over 1000%, with $60 million worth of digital assets in custody. Amid growing retail and institutional interest in cryptocurrencies, the bank also launched a crypto trust offering for its private wealth management arm earlier this month.

Featured image from UnSplash

Source: https://bitcoinist.com/dbs-bank-issues-digital-bonds-in-first-security-token-offering/?utm_source=rss&utm_medium=rss&utm_campaign=dbs-bank-issues-digital-bonds-in-first-security-token-offering

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Ethernity Chain (ERN) Goes Live On Binance’s Innovation Zone

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[PRESS RELEASE – George Town, Cayman Islands, 22nd June 2021]

Ethernity Chain (ERN) is coming to Binance’s Innovation Zone and will receive three trading pairs later today. The popular community-oriented platform with a strong focus on authenticated and limited edition NFTs has received a lot of attention lately. This token listing further enhances the appeal of what Eternity Chain brings to the table.

As a platform renowned for its limited-edition authenticated Non-Fungible Tokens, Ethernity Chain has built up a strong reputation in the past few months. Numerous famous individuals, celebrities, and sports athletes have partnered with the team to create new collectibles on the platform. Recently, Ethernity Chain teamed up with Manny Pacquiao, footballer Pelé, Phil Ivey, Anderson Silva, Marilyn Monroe, and the Winklevoss brothers further illustrating the appeal NFTs have at this time.

The native ERN token has multiple purposes within the Ethernity Chain ecosystem. For example, it can be used to buy NFTs, stake the token for rewards, governance rights through voting on proposals, and is subject to period buybacks by the team through platform profits. Getting this token listed on a major trading platform like Binance can introduce thousands of people to ERN and the broader Ethernity Chain ecosystem.

“When the biggest exchange in the world decides to incorporate your company into theirs, it’s definitely not something to take lightly. This is a massive statement that reverberates to all our artists, charities, icons and of course, the community” – Nick Rose, CEO Ethernity Chain

Binance has confirmed ERN will become part of its Innovation Zone. The Innovation Zone serves as a dedicated trading zone where innovative assets with potentially higher volatility are introduced to Binance’s traders. With this higher trading risk comes a potentially higher reward.

Interested users must go through the Innovation Zone’s web page and complete a questionnaire to access ERN and other listed tokens. There are no trading restrictions on these trading pairs.  For Ethernity Chain, the trading pairs will be ERN/BNB, ERN/BUSD, and ERN/USDT. Trading will commence today at 06:00 AM UTC.

About Ethernity Chain

Ethernity is the groundbreaking authenticated NFT project which auctions verified artwork featuring the top artists and stars from sports, music, film, gaming, tech, history and entertainment. Each of these digital artworks is represented as a non-fungible token (NFT). The pieces feature well-known public figures, and a portion of all funds raised from the endeavor will be donated to charitable causes. Ethernity Chain combines the utility of DeFi and merges it with NFTs to create an exclusive pipeline to rare, collectible content from notable figures and well-established digital artists.

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Source: https://cryptopotato.com/ethernity-chain-ern-goes-live-on-binances-innovation-zone/

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Cardano Price Analysis: ADA Bears Take Control, Will $1 Hold?

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ADA/USD – ADA Plummets Beneath The 100-day MA

Key Support Levels: $1.07, $1.00, $0.913.
Key Resistance Levels: $1.20, $1.30, $1.42.

ADA fell beneath the 100-day MA at $1.42 over the weekend and has since plummetted as low as $1 today.

The cryptocurrency was trading inside a symmetrical triangle pattern and broke toward the downside of the consolidation on Saturday. Yesterday, ADA slipped from the 100-day MA and fell beneath $1.20.

It continued today as ADA broke support at $1.12 (long-term .618 Fib) and dropped into $1 (short-term .886 Fib).

adausd-jun22
ADA/USD Daily Chart. Source: TradingView.

ADA-USD Short Term Price Prediction

Looking ahead, if the bears break $1.07, the first major support lies at $1.00 (200-day MA). This is followed by support at $0.913 (May lows), $0.847 (downside 1.272 Fib Extension), $0.8, and $0.75 (.786 Fib).

On the other side, the first resistance lies at $1.20. This is followed by $1.30 (bearish .236 Fib & falling trend line), $1.42 (100-day MA), and $1.50 (bearish .382 Fib).

The daily RSI reached extremely oversold conditions today, indicating that the sellers must be reaching exhaustion soon. The RSI is now the most oversold since September 2020.

ADA/BTC – ADA Loses 50-day MA and Drops To .5 Fib Support

Key Support Levels: 3440 SAT, 3200 SAT, 3070 SAT.
Key Resistance Levels: 3600 SAT, 3800 SAT, 4000 SAT.

ADA also lost crucial support at 3820 SAT (.382 Fib) this week. It had established this support in June and managed to close each daily candle above it through the month. ADA bounced higher from it over the weekend and climbed above the 50-day MA.

Unfortunately, it was unable to close above the 50-day MA at 4000 SAT and dropped lower from there yesterday as it fell beneath 3820 SAT (.382 Fib). Today, it continued until added support was found at 3440 SAT (.5 Fib).

ADA/BTC Daily Chart. Source: TradingView.

ADA-BTC Short Term Price Prediction

Moving forward, the first support lies at 3440 SAT (.5 Fib). This is followed by 3200 SAT, 3070 SAT (.618 Fib & 100-day MA), and 3000 SAT.

On the other side, the first resistance lies at 3600 SAT. This is followed by 3800 SAT, 4000 SAT (50-day MA), and 4190 SAT (20-day MA).

The RSI is in bearish territory and is still not oversold. This indicates that there might be some more selling pressure on the way.

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.


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Source: https://cryptopotato.com/cardano-price-analysis-ada-bears-take-control-will-1-hold/

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‘Bitcoin’s six-week run of outflows has been driven’ by these factors

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The Bitcoin market was witnessing strong sell-offs for over a month now. On Monday, the largest digital asset plunged to its monthly lows of $31k, triggered by the ongoing crackdown by China. This has spread panic among investors.

Over the past week, Bitcoin outflows totaled a massive sum of $89 million, while the bitcoin outflows value hit $487 million for the year. This was 1.6% of assets under management as indicated by the data offered by CoinShares.

Source: CoinShares

The above chart indicated that the top cryptos like Bitcoin and Ethereum were both noting a higher selling pressure in the current market.

This was the third consecutive week of outflows for the entire crypto market and it amounted to $79 million leaving the market. Researchers have termed this as ‘the longest bear run in outflows since February 2018’. Currently, for June, the net outflows remained high at $210.5 million with another week left of the month.

According to Matt Weller, global head of market research at Forex.com:

“Bitcoin’s six-week run of outflows has been driven by the combination of environmental concerns and an increasingly antagonistic regulatory environment in China. With these themes still in effect and prices subdued, it may be a while before we start to see another period of sustained fund inflows.”

Following China’s crackdown, authorities in one of the largest Bitcoin mining provinces, Sichuan ordered the closing of the cryptocurrency mining projects. Owing to such negative sentiments in the market, BTC value has remained low at $32k, at the press time.

Data from Alternative.me also suggested ‘Extreme Fear’ in the market and its value has fallen to 10, suggesting more fear than greed.

Source: Alternative.me

Bitcoin has now lost almost 50% of its value since the peak observed in April.

Ethereum, the second-largest cryptocurrency was also seeing minor outflows of $1.9 million last week. In the previous week, it reported a total outflow of $14.6 million, which was restricted compared to Bitcoin’s outflows. Ether outflows represented only 0.14% of assets under management, suggesting the negative sentiment had remained focused on Bitcoin.


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Source: https://ambcrypto.com/bitcoins-six-week-run-of-outflows-has-been-driven-by-these-factors

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