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Ethereum, Dogecoin, Synthetix Price Analysis: 03 April

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Ethereum broke past its previous ATH and the rising ETH/BTC saw altcoins do well over the past couple of days as well. Dogecoin pumped on an Elon Musk tweet and dropped lower. Synthetix climbed steadily to reach $21.43 and could rise even higher after a minor dip.

Ethereum [ETH]

Ethereum, Dogecoin, Synthetix Price Analysis: 03 April

Source: ETH/USD on TradingView

ETH broke past its previous ATH at $2042 and was trading at $2102 at the time of writing. It had coiled within a triangle pattern for the past month and broke past a region of supply at its previous ATH.

The RSI, even on the 4-hour chart, was overheated past the 70 value. Ether’s CME futures had closed for the weekend at $2028. Therefore, it is likely that the coming days will see an ETH pullback to the $2000-$2050 area before its next leg upwards.

The 27% Fibonacci extension level based on ETH’s move up from $905 to $2041 lies at $2542.

Dogecoin [DOGE]

Ethereum, Dogecoin, Synthetix Price Analysis: 03 April

Source: DOGE/USDT on TradingView

It is hard to analyze a coin that sees a 23% candle following Elon Musk’s tweet promising to put “a literal Dogecoin on the literal moon”. DOGE was trading beneath resistance at $0.054 before Musk’s tweet, and in the hours following it, shot upwards to reach as high as $0.071 before pulling back to trade at $0.0594 at the time of writing.

The fact that DOGE was unable to flip $0.062 to support indicated that, in the coming days, it is possible that DOGE was fall to $0.054. The Awesome Oscillator showed bullish momentum behind DOGE, but trading volume was once more trending downward, showing the heavy interest in DOGE has fallen off in recent hours.

Synthetix [SNX]

Ethereum, Dogecoin, Synthetix Price Analysis: 03 April

Source: SNX/USDT on TradingView

The Stochastic RSI was in overbought territory and dropped as SNX also pulled back from $21.4 to trade at $20.82 at the time of writing. The Stochastic, along with the rejection at resistance, showed that SNX could dip further to the $20.4-$20.6 region of demand before another leg upward.

The $19.7 support level will also likely be a buying opportunity if SNX dips that low- the OBV over the past week showed strong demand from buyers, and pullbacks are to be bought in this scenario.


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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ambcrypto.com/ethereum-dogecoin-synthetix-price-analysis-03-april

Blockchain

Binance to Add Tradable Coinbase Stock Token After the Nasdaq Listing

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With the crypto and perhaps the entire financial world focused on Coinbase’s direct listing scheduled to occur today, Binance announced it will list the stock token after the Nasdaq public listing is complete.

Binance to List COIN/BUSD

CryptoPotato reported the latest initiative from the world’s leading crypto exchange Binance in which the company introduced zero commission tradable stock tokens. The so-called Binance Stock Tokens enable holders to qualify for economic returns on the underlying shares, including potential dividends.

The exchange said the first such token to see the light of day would be Elon Musk’s Tesla. It seems as the initiative has enjoyed a rapid adoption from users as the trading volume has neared $7 million in a matter of days.

Consequently, Binance has decided to expand its portfolio of available stock tokens by introducing a second one, which will also be settled with the exchange’s native stablecoin – BUSD.

“Binance will list the Coinbase Stock Token (COIN) on 2021-04-14 (UTC), during which the COIN/BUSD trading pair will be open. Users will be able to trade fractional Coinbase stock on the Binance website.”

It’s worth noting, though, that the Binance Stock Tokens are not available for everyone. Users based in Mainland China, Turkey, the US, and other restricted jurisdictions are prohibited from trading them.


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Coinbase’s Nasdaq Listing

All eyes are on the largest US-based cryptocurrency exchange today as its direct listing on Nasdaq Global Select Market is scheduled to complete by the end of the working day.

Coinbase averted from using the more traditional IPO process, which requires the usage of intermediaries called underwriters (usually banks) to facilitate the listing. Instead, the company chose the direct listing approach (also known as a direct public offering (DPO)). With it, Coinbase will be able to start selling shares directly to the public without the employment of intermediaries.

The community has outlined numerous potential evaluations ranging from about $90 billion to over $150 billion. The precise number will become known upon the official listing.

Nevertheless, Coinbase going public is highly essential news for the entire cryptocurrency industry as it validates the growth experienced in the past decade or so. Additionally, it opens the door for other firms from the space to follow along, with Kraken, Bakkt, and eToro announcing similar plans.

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Source: https://cryptopotato.com/binance-to-add-tradable-coinbase-stock-token-after-the-nasdaq-listing/

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Blockchain

Coinbase CEO Brian Armstrong Urges for Fair Crypto Regulations

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Ahead of the long-anticipated public listing for his company, Coinbase’s CEO Brian Armstrong asserted that US regulators are wrong in believing cryptocurrencies are primarily used for illicit transactions. He added that the industry wants to be treated on the same playing field as traditional finance when it comes down to legislative frameworks.

Armstrong on Crypto Misconceptions

The belief that digital assets are mainly used for illegal transactions has been going on for years, perhaps since bitcoin’s usage in some dark web marketplaces starting almost a decade ago. Regulators have used it as a good bashing point, and US-based watchdogs have been at the forefront of those attacks.

US Treasury Secretary, Janet Yellen, has repeatedly outlined the alleged massive usage of bitcoin and other cryptocurrencies for terrorist financing, Ponzi schemes, buying illegal goods, and everything in between. Naturally, the Treasury’s FinCEN department proposed quite restrictive legislation, which, however, has been indefinitely postponed.

Brian Armstrong, the CEO of the largest US-based crypto exchange preparing for its direct listing today, touched upon these concerns during a CNBC interview. However, he asserted that cash and even the highly-regulated banking sector are more frequently utilized in illegal transactions than crypto.

He referred to a report published today by the recently launched Crypto Council for Innovation indicating that “less than 1%” of all digital asset transactions have illicit roots. Simultaneously, PwC estimations showed that the percentage is more than 4x higher with the traditional economy, and more specifically cash.


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“The data we have just indicates that crypto is really not uniquely crime written. In fact, the data suggests it’s better than cash in that regard.”

Treat us Equally

Armstrong further outlined the significance of adequate regulation for his company, especially now that it will become public, but also for the entire industry. He suggested that the US should treat the crypto space as other financial sectors.

“We want to be treated on the level playing field with traditional financial services at the very least and not have any kind of punishment for being in the crypto space.”

He also joined Kraken’s CEO, Jesse Powell, saying that the world’s largest country by nominal GDP risks falling further behind other nations, such as China, in terms of crypto and blockchain adoption.

“China has really embraced cryptocurrency and blockchain in a big way – starting from about six years ago. They are substantially far ahead.” – Armstrong added.

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Source: https://cryptopotato.com/coinbase-ceo-brian-armstrong-urges-for-fair-crypto-regulations/

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MakiSwap Raises $1.4M to Build AMM Platform on Huobi Eco Chain

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[Press Release – St, John’s Antigua, Barbuda, 14th April, 2021]

MakiSwap, the number one decentralized exchange on Huobi Eco Chain (Heco), has raised $1.4 million in seed and private funding to build the most robust and feature-rich automated market maker exchange and yield farming platform on Huobi Eco Chain.

The oversubscribed round was led by Inclusion Capital, which incubated and supported MakiSwap in its development efforts. Other participants include Kenetic Capital, LD Capital, NGC Ventures, Polygon Network, DAO Maker, Momentum 6, AU21 Capital, Xend Finance and others. Jawad Ashraf, Founder of Terra Virtua, also joined the round as an individual investor.

MakiSwap is the leading AMM on Huobi Eco Chain, a high-performance blockchain supporting the Ethereum Virtual Machine. Heco was launched by the Huobi Global exchange and was met with formidable community support in China and the Asia-Pacific region. Heco projects are now shifting their focus to the global market, looking to bring in DeFi users from other regions and other blockchains.

MakiSwap was developed by Unilayer, a cross-chain DEX aggregator and DeFi ecosystem. The exchange offers unique features for an AMM designed with the professional trader in mind, including limit orders, advanced charting tools, analytics, and more. MakiSwap also features lucrative yield farming opportunities designed to incentivize users to make the jump into the new protocol and blockchain.

“We’re extremely excited to launch MakiSwap on Huobi Eco Chain and to the public, we do see a big potential for HECO to capture a lot of market share compared to other blockchains in the near future,” said Geo, Founder of Unilayer and MakiSwap.

“Makiswap is leading a new wave of Defi by empowering Huobi’s ECO chain community with key tools and infrastructure. We are excited to support Makiswap in helping to transform global finance through Defi.” Jehan Chu, Founder and Managing Partner, Kenetic

MakiSwap is powered by the MAKI governance token, which will be airdropped to holders of Unilayer’s LAYER token on Ethereum and Binance Smart Chain.

About MakiSwap

MakiSwap is the leading AMM exchange on Huobi Eco Chain, developed and launched by Unilayer, a cross-chain liquidity aggregator and unified interface for decentralized exchanges. MakiSwap’s governance token is MAKI, distributed fairly to all holders of Unilayer’s LAYER token. MakiSwap includes an advanced set of features like limit orders and advance charting to offer the best experience for professional DeFi traders.

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/makiswap-raises-1-4m-to-build-amm-platform-on-huobi-eco-chain/

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