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IOST Gains Over 40% Amidst the Dribbling Market Momentum

IOST has been one of the top gainers in the intraday and has strengthened by over 40% so far, followed by Elrond, TRON, and DASH in the top 100 cryptos of the global market. IOST has gained notably after the market crash in the intraday, over the past 24 hours. The currency has definitely reversed …

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IOST has been one of the top gainers in the intraday and has strengthened by over 40% so far, followed by Elrond, TRON, and DASH in the top 100 cryptos of the global market. IOST has gained notably after the market crash in the intraday, over the past 24 hours.

The currency has definitely reversed the loss incurred due to long bearish candle pullback to the current bullish spike and has, therefore, rose above the 61.80% fib retracement level, which otherwise was below the 50.0% fib retracement level.

IOST Price Analysis

IOST Price News
IOST/USD Chart By TradingView

Today, IOST was witnessed trading at $0.0064 with a complete gain of steady traction over the last 24 hours. The intraday movement has drawn a positive crossover amidst the negative market sentiments where the major securities are seen accumulating towards the downsides. With a steep candlewick rise, IOST/USD is now trading above 61.80% fib level with an amplified spike above 50.0% fib level.

Moreover, with the recent gush in the momentum of the 100th coin of the global crypto market, IOST is now trading with complete support from MA50 & MA200. The price trend after breaching the lower Bollinger Band is moving away from the sell-off extremities but widens, exhibiting intraday volatility.

IOST News Price

Since the market crashed just at the onset of the ongoing month, the weekly movement over the past eight days has been contradictory as the IOST marks explicit gains in the intraday. It was five days back when the coin lost over 18% with a long bearish candle. However, over the past 24 hours, until the time of writing, IOST price has gained notably over 40% from trading below $0.0050 at $0.0049 to spiking as high as $0.0070.

In this regard, the MACD chart shows a bullish crossover on the intraday chart. The RSI is inclined towards the overbought region due to gain in intraday momentum and lies at 64.91.

Source: https://www.cryptonewsz.com/iost-gains-over-40-amidst-the-dribbling-market-momentum/

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US House Financial Services Chair Waters Recommends Joe Biden Rescind OCC Crypto Guidance

House Financial Services Chair Maxine Waters told President-elect Joe Biden to undo the OCC’s crypto guidance after he takes office next year.

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U.S. Representative Maxine Waters, who chairs the powerful House Financial Services Committee, recommended that President-elect Joe Biden rescind or monitor all of the cryptocurrency-related guidance issued by the Office of the Comptroller of the Currency.

In a letter sent to the incoming president Friday, Waters wrote that her committee has “conducted extensive oversight” over President Donald Trump’s administration, and listed a number of actions Biden’s administration could take to undo what she described as the harms of Trump’s term.

Waters’ comments come weeks after other Financial Services Committee members, including Reps. Rashida Tlaib and Jesus “Chuy” Garcia criticized Brooks’ crypto-related actions during the COVID-19 pandemic and just days after the lawmakers introduced a bill that would require stablecoin issuers to seek bank charters and regulatory permission to introduce stablecoins.

“As you begin to carry out the mandate given to you by the American people to restore trust in the federal government, I would like to highlight several areas where you and your team should immediately reverse the actions of your predecessors,” she wrote.

She also recommended that Biden monitor the OCC’s advanced notice of rulemaking around digital activities conducted by banks and the public input period.

“Your appointed officials at the Office of the Comptroller of the Currency (OCC) must also not assume, as their predecessors have, that a law Congress passed over 150 years ago somehow gives, them authority to provide a national bank charter to non-bank fintech or payment companies,” she wrote.

Each of these recommendations would undo work conducted by Brian Brooks, the Acting Comptroller of the Currency. Brooks was recently nominated to serve a full five-year term by Trump.

Under a section on financial stability, Waters wrote that the Financial Stability Oversight Council and Office of Financial Research should publish their analysis on developments and the existing regulatory framework around digital assets and distributed ledger technology.

Source: https://www.coindesk.com/financial-services-waters-recommendations

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Intellectual Capital Firm Calls XRP One of the Most Intriguing Assets in Crypto

The publicly-traded risk management firm FRMO Corp. is making the case for XRP. In its latest letter to shareholders, the firm outlines its bullish stance on the crypto markets and specifically outlines XRP as a unique digital asset due to the fact that it’s not mined and is deflationary in nature. “XRP, itself, is one of the […]

The post Intellectual Capital Firm Calls XRP One of the Most Intriguing Assets in Crypto appeared first on The Daily Hodl.

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The publicly-traded risk management firm FRMO Corp. is making the case for XRP.

In its latest letter to shareholders, the firm outlines its bullish stance on the crypto markets and specifically outlines XRP as a unique digital asset due to the fact that it’s not mined and is deflationary in nature.

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“XRP, itself, is one of the more intriguing currencies, as it is explicitly deflationary. There is a modest cost for transacting in XRP, which is not actually paid to any intermediary. The fee, which is a very small fraction of a unit of XRP and which is used to protect the network, is simply destroyed. Therefore, the number of XRP units is constantly decreasing.”

XRP has a total supply of 100 billion coins, and each time an XRP transaction is sent, 0.00001 XRP is burned. The firm says that could become a factor in XRP’s value proposition if the coin is widely adopted in the mainstream.

“If the transaction velocity of XRP were to rise greatly, the number of currency units would decline greatly, thereby creating a substantial return even if the coin itself did not experience an increase in market capitalization. It would, however, experience an increase in value per unit.”

FRMO says its private partnership investments now hold positions in Bitcoin and many of the top 10 largest crypto assets by market cap.

The firm is also mining Ethereum (ETH), Ethereum Classic (ETC), Zcash (ZEC), Litecoin (LTC) and Bitcoin Cash (BCH).

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Source: https://dailyhodl.com/2020/12/04/intellectual-capital-firm-calls-xrp-one-of-the-most-intriguing-assets-in-crypto/

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America Is Beating Asia for Once in the Field of Crypto Trading

Bitcoin is growing like there’s no tomorrow, and for once, it looks like Asia is being beaten out by North America in terms of cryptocurrency love and adoption. North America Is Becoming Number One More coins and cryptocurrencies are flowing into North American exchanges than into Asian exchanges. This is an odd occurrence considering Asia

The post America Is Beating Asia for Once in the Field of Crypto Trading appeared first on Live Bitcoin News.

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Bitcoin is growing like there’s no tomorrow, and for once, it looks like Asia is being beaten out by North America in terms of cryptocurrency love and adoption.

North America Is Becoming Number One

More coins and cryptocurrencies are flowing into North American exchanges than into Asian exchanges. This is an odd occurrence considering Asia has typically outdone all other regions in terms of crypto appreciation. There was a time when South Korea accounted for more than one-quarter of the world’s crypto transactions, and no doubt China has been the biggest influencer in the space.

But as of late, North America is moving up the financial ladder and proving itself to be a major hub for crypto trading. In fact, weekly inflows to American exchanges have surged by more than 7,000 times what they were at the beginning of the year. Overall, 216,000 bitcoins – worth approximately $3.4 billion at the time of writing – made their way into American exchanges in mid-November.

Ciara Sun – a representatives of Huobi Global Markets in Seychelles – commented in a recent statement:

The sudden influx of institutional interest from the North American region is driving a shift in bitcoin trading, which is rebalancing asset allocations across different exchanges and platforms.

Some are claiming, however, that the call of North America as a leader in the crypto space is coming a bit early. Chainalysis figures show, for example, that East Asia is still a major exporter of crypto funds, and still serves as one of the largest regions for digital asset activity. In addition, many others claim that regulation in Asia is quite different than what it is in North America. This puts a dent in the overall figures, and they claim that it cannot be deciphered just yet which one is more dominant.

Curtis Ting of the U.S. exchange Kraken in San Francisco explained:

You’re increasingly starting to see distinctions in the market between those that have no regulatory or little regulatory clarity versus those that do. Larger institutions seek the predictability that a regulated venue offers.

Putting this aside, however, Chainalysis shows that the activity occurring in major North American exchanges – i.e. Coinbase, Kraken, etc. – is considerably larger than what’s happening in Asian exchanges. In the past, North America has edged forward like this, but never by such a big margin.

It is estimated that approximately 1.6 million in bitcoin is making its way into North American trading platforms each week. By contrast, Asian exchanges are seeing only 1.4 million units.

Regulation Is the Key

At this stage, it looks like America is offering a stricter, more regulated environment, which appears to be attracting larger traders. Christopher Matt of 3iQ in Canada states:

A lot of U.S. funds are trading with large U.S. counterparties. It tells you right there how important the regulatory nature of the space is and having venues to trade on that are regulated.

Tags: Asia, bitcoin, North America Source: https://www.livebitcoinnews.com/america-is-beating-asia-for-once-in-the-field-of-crypto-trading/

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