Blockchain
Gemini Buys Blockrize to Launch Bitcoin Rewards Credit Card
Cardholders will receive up to 3 percent rewards in Bitcoin or other cryptocurrencies.


Winklevoss twins-owned crypto exchange, Gemini announced on Thursday that it is going to launch Gemini Credit Card, offering rewards in digital currencies.
The New York-based exchange acquired Blockrize, a startup already working on cryptocurrency reward systems, for accelerating its efforts of launching the crypto credit card.
Commenting on the move, Gemini CEO, Tyler Winklevoss, said: “The Gemini Credit Card will make it easier for any consumer to invest in bitcoin and other cryptos without changing their existing behavior.”
3 Percent Reward on Transactions
The credit card will offer rewards of up to 3 percent in Bitcoin and other cryptocurrencies on every purchase. The rewards will be deposited on the users’ Gemini accounts.
The card will be available in the United States. Gemini has already opened a waitlist for registration and imported the waitlist of Blockrize, who will get early access. However, its launch date has not been revealed yet.
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Gemini said that the credit card will work similarly to any other bank card. It is not clear if it will use Visa or Mastercard for payment processing, but assured that it will be widely accepted wherever major cards are accepted. Neither did it reveal any bank partnerships for issuing the credit line.
The concept of crypto rewards card is not new as many other crypto card issuers are offering such services, but they are mostly pre-paid cards. BlockFi is another crypto company with plans of launching a similar credit card with 1.5 percent in rewards.
Additionally, Gemini’s timing for the launch is perfect given the massive recent demand for cryptocurrencies.
“Rather than deciding how and when to buy crypto, customers can do so when making their everyday purchases. We’re excited to welcome the Blockrize team to Gemini and work together to continue to mainstream crypto,” Winklevoss added.
Blockchain
CoinShares Launches a $75 Million Physically-Backed Ethereum (ETH) ETP


A month after launching a Bitcoin ETP on Switzerland’s SIX Exchange, CoinShares has released a physically-backed exchange-traded product following the performance of the second-largest cryptocurrency – Ethereum.
- Describing itself as “Europe’s largest digital asset investment house,” CoinShares is a cryptocurrency-oriented manager with over $4 billion in AUM. The company, headquartered in London, announced the launch of its latest crypto product – a new physically-backed ETP tracking the performance of Ethereum.
- Called CoinShares Physical Ethereum, the product is already listed on the regulated SIX Swiss Exchange under the ticker ETHE and has a base fee of 1.25%. According to the company, the cost is “lower than the industry standard” of 2%.
- The statement explained that each unit of ETHE is backed with 0.03 Ether tokens at launch. Thus, it provides investors with “passive exposure to Ethereum’s native asset with the convenience of an ETP.”
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“In the early days of 2021, we have seen a continuation of last year’s demand in digital assets from institutions. We have also seen an increase in investor interest in Ethereum. We are encouraged by our client’s trust in our team to guide them in their journey through the digital asset ecosystem, and for many, Ethereum is an important part of that journey.” – commented Chief Revenue Officer Frank Spiteri.
- It’s worth noting that this is the company’s second similar product tracking the performance of a crypto asset launched this year. Somewhat expectedly, the first one, released in mid-January, follows the largest digital asset by market cap – Bitcoin.
- CryptoPotato reported upon its launch that it started with AUM of $200 million, and each unit is backed by 0.001 BTC.
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Source: https://cryptopotato.com/coinshares-launches-a-75-million-physically-backed-ethereum-etp/
Blockchain
Chainlink Price Analysis: 27 February

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be taken as investment advice
Bearish sentiment has been the norm over the past few days, with the same being the case at press time for altcoins such as Chainlink. LINK has seen its price hike by around 164 percent since the start of the year. Over the last 7 days, however, with sellers dominating the market, LINK lost close to 28 percent of its value. While there have been some signs of recovery on the price charts, traders cannot discount the possibility of a further dip soon.
At the time of writing, LINK was trading at $25.5 with a market cap of close to $10.5 billion, making it the ninth-largest cryptocurrency according to CoinMarketCap’s list.
Chainlink 1-day Chart

Source: LINK/USD, TradingView
Chainlink’s price surged within an ascending channel formation over the last two months and as expected, the breakout was bearish for the coin. Additionally, Bitcoin also fell over the past week, adding to LINK’s price woes.
At press time, while LINK had strong resistance around the $35.1-price range, it was testing the support at $23.9, just like it has over the past few days. If this support level fails, it is quite likely that LINK will head towards the next support at $19, creating an opportunity for traders to open short positions.
Rationale
The technical indicators for LINK were quite bearish at press time and one can expect a further price drop for the coin in the coming days. At the time, the RSI indicator was quite far away from the overbought zone and was close to the oversold zone, indicating the absence of a buyer-dominated market.
If the RSI drops even further, LINK’s downtrend will continue. The MACD indicator also painted a similar picture after having seen the Signal line go past the MACD line, resulting in a bearish crossover.
Important levels to watch out for
Resistance: $35.1
Support: $23.9, $19
Entry: $24.7
Take Profit: $19.4
Stop Loss: $34.4
Risk/Reward: 0.56
Conclusion
Chainlink saw its price surge on the charts over the past two months. However, the sentiment has since changed quite significantly and the coin seemed to be firmly in the grip of the bears. The altcoin may see a further price drop in the coming week if the press time support level fails. Such a scenario will result in LINK’s price going below the $20-mark, presenting an opportunity for short positions in the market.
Source: https://ambcrypto.com/chainlink-price-analysis-27-february
Blockchain
Bitcoin Cash, Huobi Token, Zcash Price Analysis: 27 February

Bitcoin Cash retained the 10th spot on the crypto-rankings, despite being severely impacted by the recent correction in the broader market. Huobi Token flashed bullish signals, but a break above its press time resistance was unlikely. Finally, Zcash was projected to trade within a fixed channel since volatility was low in the market.
Bitcoin Cash [BCH]

Source: BCH/USD, TradingView
Weekly losses on Bitcoin Cash‘s charts amounted to 34% as a correction in the broader market had a negative effect on the crypto-asset. This period also saw $3 billion erode from BCH’s total value as it held on to the number 10th spot in the crypto-rankings by a bare margin, with a market cap of $9.18 billion. At the time of writing, BCH’s price was floating just above its $464-support, while the indicators gave mixed signals on BCH’s future trajectory.
The RSI pointed lower from under the 40-mark and reflected the weakness in price. On the other hand, the MACD moved above the Signal line while the histogram registered rising bullish momentum. With the crypto-market awaiting strong cues, we can expect BCH to remain above its press time support level. If the aforementioned level fails, the next line of defense would be at $421.5.
Huobi Token [HT]

Source: HT/USD, TradingView
The ADX indicator showed that Huobi Token’s uptrend was weakening after the price snapped an all-time high exactly a week ago. In fact, the losses amounted to over 30% following the broader sell-off in the crypto-market. At the time of writing, the altcoin’s price had bounced back from the $15.4-support after the bulls stepped in.
The MACD closed in on a bullish crossover, while the red bars on the histogram moved towards the half-line on the histogram. Either way, its gains would be capped at the immediate resistance and a hike to record levels seemed unlikely over the coming trading sessions.
Zcash [ZEC]

Source: ZEC/USD, TradingView
The Bollinger Bands on Zcash’s hourly charts were compressed as volatility remained low after the price bounced back from its $114.7-support. Weak trading volumes and buying pressure worked against a bullish outcome even though the price looked to breach the $124.75-resistance.
The Awesome Oscillator switched to red from green as momentum moved back and forth over the last few sessions. Moving forward, expect Zcash to remain within its current channel as it awaits stronger signals from the broader market for a definitive move on the charts.
Source: https://ambcrypto.com/bitcoin-cash-huobi-token-zcash-price-analysis-27-february
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