Connect with us

Blockchain

iSignthis ASX Claim, BTC & ETH Woes, Plus500 Equity Trading: Editor’s Pick

ICYMI: The biggest news stories of the week

Republished by Plato

Published

on

It’s that time of the week when we take a look back at the news stories that dominated the forex, fintech, and crypto worlds, in our best of the week segment.

iSignthis Increases Damage Claims Against ASX, Adds $200.7m

iSignthis (ASX: ISX) announced this week that it has increased the damage claims against the Australian Securities Exchange (ASX) Limited with the Federal Court of Australia, as well as further set out what the damages relate to.

The Most Diverse Audience to Date at FMLS 2020 – Where Finance Meets Innovation

According to a statement written by ISX on Tuesday, the payments identity company has added damages of $200.7 million against ASX. This relates to the exchange’s decision to suspend trading in iSignthis’ shares and continue to keep trading suspended.

The $200.7 million in damages is on top of the $264 million already claimed by ISX. As Finance Magnates reported, in recent weeks iSignthis filed an amended statement of claim with the Federal Court, claiming damages in excess of $264 million.

Read more on the iSignthis ASX Damages Claim here.

Crypto Markets See Red: BTC Headed Back to $10,000 While DeFi Bubble Bursts

After weeks of solid gains and strong plateaus, it seems that crypto markets are headed into the correction season. After a 48-hour price dive Finance Magnates looked at whether BTC will test $10,000 again?

In a Finance Magnates analysis, we looked at why BTC and other cryptocurrencies were falling and if the DeFi bubble really has burst.

Read more on the BTC drop and if the DeFi bubble has burst here.

Plus500 CEO Reveals its Preparing to Move into Physical Equity Trading

Plus500 is about to expand its operations into physical equity trading, moving the online contracts for difference (CFD) broker into mainstream stockbroking.

The new Chief Executive Officer (CEO) of Plus500, David Zruia, explained: “We are looking at share dealing. Many of our customers, as well as holding trading accounts, hold the underlying asset.”

As part of this expansion, Plus500’s CEO also revealed that the company is weighing takeover deals.

Read more on the Plus500 equity trading move here.

Suggested articles

Elections and Markets: An Unbreakable BondGo to article >>

CFTC Provides Relief to Swap Dealer Transitioning from Soon-Defunct Libor

The Commodity Futures Trading Commission (CFTC) this week provided relief to market participants relating to the transition from swaps referencing LIBOR and other interbank offered rates.

The CFTC staff has issued three no-action letters providing the additional relief for swap transactions transitioning from Libor to alternative benchmarks, which applies to swap dealers and other market participants.

Read more on the CFTC Relief here.

Tesla & Apple Share Splits Could Boost Price by 33% in 12 Months

Dominating much of the news was the splits in Tesla and Apple stock shares. In a Finance Magnates Analysis, we broke down the numbers and looked at why eToro believes that the value of Tesla and Apple shares could surge by more than a third in the year following the split.

While this is the first time that Tesla has split its shares, this is the fifth time that Apple has divided its stocks. Find out why stock splits can play an important emotional role for investors

Read more on the Tesla and Apple Stock Splits here.

Ethereum Struggles Under the Weight of DeFi Growth: Is ETH Doomed to Fail?

In a popular Finance Magnates analysis we looked whilst DeFi’s popularity grows, Ethereum is becoming more and more congested. This means that ,For a growing number of Ethereum users, the “rent is too damn high.”

We looked at what this means for the future of ETH and why Devs may eventually look beyond Ethereum.

Read more on the ETH Future here.

Source: https://www.financemagnates.com/forex/analysis/isignthis-asx-claim-btc-eth-woes-plus500-equity-trading-editors-pick/

Blockchain

Bitcoin’s Dominance Rises as BTC Reached a 4-Day High at $35,500 (Market Watch)

Republished by Plato

Published

on

Although bitcoin failed to continue upwards after its intraday high of $35,500, its dominance over the market has increased further. This comes as most alternative coins have stalled, except for Dogecoin, which is up by double-digits.

BTC Dominance on the Rise

After the mid-week crash, in which bitcoin slumped below $30,000 for the first time since January, the asset’s performance has been calmer. It recovered most losses and even spiked to just shy of $35,000 on the following day but failed to continue higher as reported.

The bears drove it south to around $32,000, but the trajectory quickly reversed in the following hours. BTC started climbing again and added more than $3,000 of value.

As a result, it charted a four-day high of approximately $35,500. Despite losing over a grand since then, its dominance over the market has actually increased.

The metric comparing BTC’s market capitalization with all other cryptocurrencies is up to 47%.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

Alts Stall While DOGE Pumps

Most of the alternative coins have remained stagnant on a 24-hour scale. Although Ethereum recovered from its most violent stages of the crash, it still fails to overcome $2,000 decisively. As a result, ETH trades just north of $1,900 for a second consecutive day.

Binance Coin jumped higher in the past 24 hours and even exceeded $310 at one point, but has retraced since then and is currently around $290. Cardano, Polkadot, Bitcoin Cash, and Chainlink are slightly in the red since yesterday.

In contrast, Ripple, Uniswap, Litecoin, and Solana have marked minor gains. Dogecoin is the most impressive performer once more from the larger-cap alts following a 10% increase to $0.26.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

More fluctuations come from lower- and mid-cap alts. Celo (20%) has surged the most, followed by Nano (16%), Siacoin (12%), THORChain (12%), Curve DAO Token (11%), and Waves (10%).

Klaytn has lost the most from yesterday after a 14% drop. Nevertheless, the cumulative market capitalization of all cryptocurrency assets has remained just shy of $1.4 trillion.

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

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.


PlatoAi. Web3 Reimagined. Data Inteligence Amplifed.
Click here for Free Trial.

Source: https://cryptopotato.com/bitcoins-dominance-rises-as-btc-reached-a-4-day-high-at-35500-market-watch/

Continue Reading

Blockchain

XRP, Chainlink, VeChain Price Analysis: 25 June 

Republished by Plato

Published

on

As the market continued to make slow and steady recovery, some altcoins bounced back up earlier than expected while others highlighted more volatility and steeper ups and downs.

With new updates in the SEC v. Ripple lawsuit rearing their heads every other day, XRP hiked after the 21 June fall. VeChain, on the contrary, made headlines after VeTrust, built on VeChain Thor, got adopted by a local Chinese government for better COVID-19 risk management.                                                                                                

XRPSource: XRP/USD – TradingView

XRP made a swift recovery as it noted 22% gains from its 22 June levels. The asset, after testing the $0.775-support on 21 June, fell below this level and tested the lower support at $0.55. XRP, after testing its lower support, later bounced back and highlighted considerable price gains.  

The Bollinger Bands for the asset noted a slight convergence that saw reduced volatility and a less expanded price range as the asset made recovery from its lower lows. Further, bullish momentum could be observed building on the Awesome Oscillator with the appearance of green bars. 

The Relative Strength Index for XRP was heading towards the neutral zone and had a reading of 38.43 at press time. The RSI’s uptick underlined an increase in buying pressure, one which pulled the asset from the oversold zone on 23 June. However, sellers were still dominant at press time.

XRP was trading at $0.67 at press time and if its northbound price movement continues, it can test the  $0.775-resistance as well.  

Chainlink [LINK]Source: LINK/USD – TradingView

LINK was trading at $18.9 at press time and was down 64.01% from its ATH with a breakeven multiple of 2.78. The alt’s price, after testing the $17.3 support, bounced back and made decent recoveries. The 15th ranked coin had a 24-hour price hike of 3.80% and a 7-day price dip of 16.30%. 

In light of the appearance of green candlesticks on the chart, the prevailing trend was slightly bullish. This corresponded with the Parabolic SAR’s white dots that have appeared below the candlesticks since the beginning of 24 June. Further, the Squeeze Momentum Indicator pointed to an active squeeze release (white dots) and projected a bullish trend in store for the asset. 

Finally, the MACD and Signal lines underwent a bullish crossover on 24 June, pointing towards a market recovery for the alt. This could lead the asset to rally towards the $25.9-resistance if recoveries continue.

VeChain [VET]Source: VET/USD – TradingView

VeChain was trading at $0.08 at press time and was ranked 21st on CoinMarkerCap. The alt saw decent recoveries after the 21 June price fall, and its 7-day price dip was 23.29% while its 24-hour price gain was 5.50%. The asset was down 70.14% from its ATH and had a breakeven multiple of 3.35. 

Bollinger Bands for the asset highlighted increased volatility and pictured a more expanded price range as the asset made recovery from its lower lows. Capital inflows for the asset were neutral, according to Chaikin Money Flow, with outflows still dominant in the market.

Finally, the Average Directional Index (ADX), highlighted a non-directional market. Once ADX is under 25, an uptrend can be expected to become stronger. The alt, after testing its lower support at $0.07, bounced back up and if the price rallies further it could touch the resistance level at $0.098.


Subscribe to our Newsletter


PlatoAi. Web3 Reimagined. Data Inteligence Amplifed.
Click here for Free Trial.

Source: https://ambcrypto.com/xrp-chainlink-vechain-price-analysis-25-june

Continue Reading

Blockchain

Citizens of El Salvador To Receive $30 in Bitcoin as the Law Will be Implemented In September

Republished by Plato

Published

on

The President of El Salvador Nayib Bukele has announced that bitcoin’s legal tender status will take effect in the country on September 7th, 2021. In addition, the government will give El Salvadoran citizens $30 worth of bitcoin.

  • Bukele made the statement during a national address on Friday (June 25th, 2021). The El Savaldoran President’s announcement comes after the country’s supermajority voted in favor of his Bitcoin plan to make the largest cryptocurrency the country’s second legal tender earlier in June.
  • Apart from the news of the Bitcoin law taking effect, President Bukele also revealed the creation of a new BTC wallet called Chivo.
  • According to him, every adult who signs up on the wallet will receive $30 worth of bitcoin. This effort could encourage increased adoption of the cryptocurrency.
  • Earlier, El Salvador’s President said that individuals who invest 3 BTC into the country’s economy would be awarded citizenship.
  • Although the World Bank and the International Monetary Fund (IMF) are not in support of the Central American country’s bitcoin adoption, the latest developments indicate that El Salvador is not going to give up its plans.
  • President Bukele’s plan has also faced opposition within the country. Some members of the Farabundo Martí National Liberation Front (FMLN), one of El Salvador’s major political parties, called the Bitcoin Law illegal, adding that it was harmful and was also designed to loot the people’s pockets.
  • However, the President, in his recent address, refuted the claims, stating that bitcoin will instead benefit the people and move the country forward.

Featured Image Courtesy of Reuters

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

You Might Also Like:


PlatoAi. Web3 Reimagined. Data Inteligence Amplifed.
Click here for Free Trial.

Source: https://cryptopotato.com/citizens-of-el-salvador-to-receive-30-in-bitcoin-as-the-law-will-be-implemented-in-september/

Continue Reading
Blockchain4 days ago

Legends: The premium NFT minting platform

Uncategorized4 days ago

Origin Protocol Price Prediction 2021 – Will OGN Hit $5 Soon?

Assets2 days ago

Hedge fund that shorted GameStop closes as $1.13B GME stock offer completes

Blockchain1 day ago

Active Bitcoin Addresses Reach the Lowest Level in 12 Months

News5 days ago

When is the right time to buy Bitcoin?

Blockchain5 days ago

Indian Police Arrested ”Crypto King” Who Traded Drugs for Bitcoin

Blockchain2 days ago

PayPal and Visa Lead $300M Funding for Blockchain Capital

Blockchain5 days ago

Will Polygon still be necessary after Ethereum 2.0 is live?

Blockchain1 day ago

7 Altcoins That Make You a Billionaire in 2022

News4 days ago

New Bill Aims To Make Paraguay a Global Crypto Hub

News2 days ago

Crypto Trader’s $20 Investment Explodes to $1,184,154,683,482 on Coinbase – But He’s Not Cashing Out

Uncategorized5 days ago

Is $SHIB Better Than $DOGE? And Other Crypto ($BTC, $ETH, $CHZ) News From Paraguay

News5 days ago

Battlegrounds Mobile India sending your data to a Chinese Server: Report

Blockchain2 days ago

Cardano Founder: Ethereum Will Overtake Bitcoin

Blockchain4 days ago

3 Tons of Bitcoin Mining Rigs Will Reportedly Relocate From Guangzhou to Maryland

Blockchain5 days ago

Bitcoin Whales, FX Acquisitions, ETH Options Expiry, XRP: Editor’s Pick

Blockchain5 days ago

Every quad witching, this Chainlink price trend can be observed

Blockchain2 days ago

Terra Virtua’s Mechagodzilla NFT sold for $33,700 by Blockmuse

Blockchain2 days ago

MATIC, USDT, BAL, WBTC + 3 more cryptocurrencies now available for trading on CoinJar

Blockchain2 days ago

Despite the Bounce: Bitcoin Might Still Retest $24K as Final Leg Down

Trending