Blockchain

New Comptroller of the Currency announced: Will he be as good for crypto?

Published

5 months ago

January 14, 2021

The head of the U.S. Office of the Comptroller of the Currency (OCC) Brian P. Brooks has officially announced that he is stepping down on January 14, 2021.

In a statement dated January 13, the organization said that Chief Operating Officer Blake Paulson will become Acting Comptroller of the Currency, replacing Brooks who has served for eight months.

Brian P. Brooks to Step Down, Blake Paulson to Become Acting Comptroller of the Currency on January 14, 2021 https://t.co/bGpnNapT1F

— OCC (@USOCC) January 13, 2021

The outgoing chief Brooks, formerly head of legal at Coinbase, has been a breath of fresh air with his forward looking approach. On January 12, he suggested that DeFi can root out bias and fraud in traditional banking, and that regulations need to be reconfigured for an age of algorithms.

Following several years of regulatory uncertainty the agency, which falls under the scope of the U.S. Treasury, recently made moves to allow banks to use independent blockchain nodes and stablecoins.

The announcement acknowledged these achievements adding that Brooks had helped ensure the “federal banking system could evolve to meet the changing demands of consumers and markets by clarifying bank and thrift authorities regarding certain activities related to crypto assets.”

Outgoing President Donald Trump formally nominated Brooks for a full five-year term in November, but resistance came from the Democrats who believed President-elect Joe Biden should oversee the selection.

Brooks, a former Coinbase executive, said he was leaving the OCC in capable hands. His replacement, Paulson, is a career bank examiner and has served as Chief Operating Officer for the agency since June 2020. Prior to his role at the agency, Paulson was responsible for supervising around 1,100 national banks and federal savings associations so he is in essence a veteran traditional banker.

It is unclear how Paulson will approach crypto assets, but Democratic members of the U.S. Congress have previously criticized Brooks for putting too much emphasis on moves towards digital banking services and not enough focus on Covid-19 relief.

The OCC supervises nearly 1,200 national banks, federal savings associations, federal branches, and agencies of foreign banks, that between them conduct approximately 70% of all banking business in the U.S.

Source: https://cointelegraph.com/news/new-comptroller-of-the-currency-announced-will-he-be-as-good-for-crypto

Related Topics:bank Banks blockchain Business coinbase COVID-19 Crypto crypto assets DeFi fraud Legal Markets Regulations

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Blockchain

XDC Technical Analysis: May Soon Fall Below the First Fibonacci Pivot Support Level of $0.058

Rate this post XinFin Network is an enterprise-level hybrid blockchain network that aims to provide further impetus to global trade and finance. It is powered by smart contracts and has characteristics of both public and private blockchains. It is a decentralized, interoperable, and PoS-based network. XDC is the in-house token of this ecosystem. Let us look at the technical analysis of XDC. Past Performance On Jun 15, 2021, XDC opened at $0.05. On Jun 21, 2021, XDC closed at $0.06. Thus, in the past week, the XDC price has decreased by roughly 20%. In the last 24 hours, XDC has traded between $0.058 – $0.072. https://platoblockchain.net/wp-content/uploads/2021/06/xdc-technical-analysis-may-soon-fall-below-the-first-fibonacci-pivot-support-level-of-0-058.png Day-Ahead and Tomorrow Currently, XDC is trading at $0.061. The price hasn’t changed much from the day’s opening price of $0.06. Thus, the market seems neutral. The MACD and signal lines are positive. Thus, the overall market momentum is bullish. However, a bearish crossover by the MACD line over the signal line has occurred. Hence, we can expect a price pullback. Currently, the RSI indicator is at 63%. It faced rejection at 58% and rose to the current level. Hence, buying pressures are high. High buying activity will push the price upwards. Besides, the OBV indicator is upward sloping. Thus, buying volumes are much higher than selling volumes. In other words, the OBV indicator is giving further credence to the positive momentum indicated by the RSI oscillator. In short, when we look at all three oscillators together, we can say that the overall market momentum is currently bullish. However, an intermittent price pullback amidst a bearish trend is expected. In other words, the market seems to be in a correction phase. XDC Technical Analysis Currently, the price is below the Fibonacci pivot point of $0.063. It may soon fall below the first Fibonacci pivot support level of $0.058. Thereafter, we have to wait and watch if the price continues to decline or starts rising again. The price has tested and fallen below the 76.4% FIB retracement level of $0.061. The price may soon fall below the 24-hour low of $0.058 as well. If the price retests and breaks out of these levels by day end, then probably the price uptrend is strong enough to sustain till tomorrow.

The post XDC Technical Analysis: May Soon Fall Below the First Fibonacci Pivot Support Level of $0.058 appeared first on Cryptoknowmics-Crypto News and Media Platform.

Published

2 hours ago

June 22, 2021

Republished by Plato

Table of Contents

Rate this post

XinFin Network is an enterprise-level hybrid blockchain network that aims to provide further impetus to global trade and finance. It is powered by smart contracts and has characteristics of both public and private blockchains. It is a decentralized, interoperable, and PoS-based network. XDC is the in-house token of this ecosystem. Let us look at the technical analysis of XDC.

Past Performance

On Jun 15, 2021, XDC opened at $0.05. On Jun 21, 2021, XDC closed at $0.06. Thus, in the past week, the XDC price has decreased by roughly 20%. In the last 24 hours, XDC has traded between $0.058 – $0.072.

https://platoblockchain.net/wp-content/uploads/2021/06/xdc-technical-analysis-may-soon-fall-below-the-first-fibonacci-pivot-support-level-of-0-058.png

Day-Ahead and Tomorrow

Currently, XDC is trading at $0.061. The price hasn’t changed much from the day’s opening price of $0.06. Thus, the market seems neutral.

READ Telegram Drops Two-Year Old Lawsuit Over GRAM Trademark

The MACD and signal lines are positive. Thus, the overall market momentum is bullish. However, a bearish crossover by the MACD line over the signal line has occurred. Hence, we can expect a price pullback.

Currently, the RSI indicator is at 63%. It faced rejection at 58% and rose to the current level. Hence, buying pressures are high. High buying activity will push the price upwards.

Besides, the OBV indicator is upward sloping. Thus, buying volumes are much higher than selling volumes. In other words, the OBV indicator is giving further credence to the positive momentum indicated by the RSI oscillator.

In short, when we look at all three oscillators together, we can say that the overall market momentum is currently bullish. However, an intermittent price pullback amidst a bearish trend is expected. In other words, the market seems to be in a correction phase.

READ Craig Wright Says Bounded Courier’s Conversation Cannot Be Disclosed

XDC Technical Analysis

Currently, the price is below the Fibonacci pivot point of $0.063. It may soon fall below the first Fibonacci pivot support level of $0.058. Thereafter, we have to wait and watch if the price continues to decline or starts rising again.

The price has tested and fallen below the 76.4% FIB retracement level of $0.061. The price may soon fall below the 24-hour low of $0.058 as well. If the price retests and breaks out of these levels by day end, then probably the price uptrend is strong enough to sustain till tomorrow.

#XDC #XinFin

Source: https://www.cryptoknowmics.com/news/xdc-technical-analysis-may-soon-fall-below-the-first-fibonacci-pivot-support-level-of-0058/

Blockchain

Is it really ‘dangerous to give predictions on’ this Ethereum high?

Published

2 hours ago

June 22, 2021

Republished by Plato

Ethereum, the second-largest public cryptocurrency based on market capitalization, has shown remarkable growth over the past year. The largest altcoin has witnessed institutional as well retail interest especially considering the buzz around its much-anticipated upgrade. Pete Humiston, the current manager of Kraken Intelligence laid out a significant difference between Bitcoin and Ethereum, stating:

The number of ETH whales (wallets > 10K ETH): At an all-time HIGH
The number of Bitcoin whales (wallets >1k BTC): Approaching a year-to-date LOW

Source: Pete Humiston| Twitter

In a recent interview with New York Magazine, Bitcoin bull Mike Novogratz shared his optimistic thoughts on the altcoin as well. Founder and CEO of Galaxy Digital, Novogratz predicted a meteoric urge that can surpass ETH’s previous ATH.

In April, ETH recorded an ATH price mark of around $4,362. According to Novogratz, it can cross the previous mark because of the following factors,

“We already had payments and stable coins that really kind of gave Ether the kick last year. But then all of a sudden, you have decentralized finance (DeFi) and NFTs (non-fungible tokens) both on Ethereum at the same time roughly, with wild accelerating growth.”

Further, he added:

“You know, it’s dangerous to give predictions on the highs. But could it get to $5,000? Of course, it could.”

Novogratz currently has invested around 85% of his net worth in the crypto industry. Ethereum, at the press time, was trading just under the $2100 price mark with a correction of 8.2% in the past 24 hours.

Another analyst presented his take on the Ethereum vs Bitcoin debate:

“Ether beats bitcoin as a store of value. The Ethereum ecosystem…provides developers a way to create new apps. Most of DeFi apps are being built on Ethereum. The greater number of transactions in ether vs bitcoin reflects this dominance” – Goldman Sachs Global Macro Research pic.twitter.com/vNkQ1HlDYM

— SantΞago R Santos (@santiagoroel) May 22, 2021

Adoption

Apart from Bitcoin’s institutional adoption, El Salvador became the very first country to make Bitcoin a legal tender. Following this news, other Central and South American countries have started to look at incorporating Bitcoin.

On the other side, Ethereum has had no such luck (at least not yet). However, with the anticipated tech upgrade, one might see ETH’s adoption rates increasing.

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Source: https://ambcrypto.com/is-it-really-dangerous-to-give-predictions-on-this-ethereum-high

Blockchain

Tradefeedr Launches FX Data Platform with Dozens of Participants

The company is determined to expand its network further.

Published

3 hours ago

June 22, 2021

Republished by Plato

London-based Tradefeedr announced on Tuesday that it has launched an FX data and analytics platform with a wide network of both buy-side and sell-side firms.

The press release shared with Finance Magnates detailed that the fintech has onboarded more than 15 sell-side and more than 20 buy-side market participants. Earlier, the Tradefeedr revealed that some of the participants on its network are Goldman Sachs, UBS, XTX Markets and Insight Asset Management, stressing that all of them are global leading institutions.

Additionally, the company is in talks with 20 other market participants who are willing to join the FX network.

Commenting on the prospect, Tradefeedr Chairman, Seth Johnson said: “We are delighted by the overwhelmingly positive response from major FX participants who have now joined the Tradefeedr community. This demonstrates that there is a real need in foreign exchange to trade using correct and standardized data, allowing faster and more accurate flows.”

Growing Demand for Data

Founded in 2018, the platform enables clients to improve trade execution by analyzing their FX trading data from participating liquidity providers and ECNs via a standardized API. It was founded by Balraj Bassi and Alexei Jiltsov and received a $3 million investment at the end of 2020 from the privately-owned holding company, IPGL.

“Since our inception, Tradefeedr’s vision has been to deliver superior data transfer across the global FX trading community,” Bassi said. “We are excited to now roll out the platform amongst our leading liquidity providers and consumers who will be able to submit and receive their trading data amongst each other and with ECNs & trading venues over a single API.”

Jiltsov added: “FX trading data and analytics are currently siloed between venues and the sell and buy-side. Users rely upon incomplete, inaccurate data, and before Tradefeedr, there has not been any method to work together with trading flows based on a common set of data. The significant adoption we have witnessed is a testament to the support for our vision and business model focused on transforming the FX marketplace for the benefit of all participants.”

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.financemagnates.com/institutional-forex/tradefeedr-launches-fx-data-platform-with-dozens-of-participants/