Blockchain

VP of Egypt’s EAFIS: Crypto Currencies are the Future

Mohsen Adel, Vice President of the Egyptian Association for Finance and Investment Studies (EAFIS), said in an interview with Youm7 (a private Egyptian newspaper), that the phenomenon of (virtual) electronic currencies has recently spread in the global economy, specially Bitcoin. He added, “Bitcoin” is a decentralized cryptocurrency-based digital currency, which is a decentralized currency that […]

The post VP of Egypt’s EAFIS: Crypto Currencies are the Future appeared first on TheCoinsPost.

Published

11 months ago

May 31, 2020

Republished by Plato

He added, “Bitcoin” is a decentralized cryptocurrency-based digital currency, which is a decentralized currency that is not controlled by non-users, Bitcoin has became so popular lately but it’s only problem that it cannot be monitored by the government entities or the central bank like the regular fiat currencies.

He also added, China is preparing to launch their cryptocurrency, which has become a smart solution for the Chinese to handle the current trade war with the United States.

He pointed out that he recently noticed that many Egyptians use these crypto currencies via the Internet and we see that dealers are exposed to frauds as a result of using this type of non governmental regulated insecure payments.

Yet, he believes that the importance of cryptocurrencies will grow in the future. Cryptocurrencies are the currencies of real free-market economies. Their future depends on the confidence they inspire consumers.

The Egyptian Society for Finance and Investment Studies was established in 2010 (according to the Egyptian Civil Associations Law) by a group of investment experts in Egypt.

The Egyptian Association for Finance and Investment Studies works to serve certain goals, the most important of which is to support the basic concepts of the non-banking financial services industry, especially the field of financial markets, in addition to disseminating the basics of studying investment approaches among many sectors of society and developing the investment climate by spreading sound investment awareness.

The post VP of Egypt’s EAFIS: Crypto Currencies are the Future appeared first on TheCoinsPost.

Source: https://www.thecoinspost.com/vp-of-egypts-eafis-crypto-currencies-is-the-future/

Blockchain

Kraken Daily Market Report for April 12 2021

Published

2 hours ago

April 13, 2021

Republished by Plato

Overview

Total spot trading volume at $1.74 billion, up from the 30-day average of $1.34 billion.
Total futures notional at $555.7 million.
The top five traded coins were, respectively, Bitcoin, Tether, Ethereum, Ripple, and Cardano.
Strong returns from Uniswap (+25%) and Flow (+11%).

April 12, 2021 $1.74B traded across all markets today Crypto, EUR, USD, JPY, CAD, GBP, CHF, AUD
XBT $59918. ↓0.3% $641.7M	USDT $0.9994 ↑0.03% $317.0M	ETH $2135.2 ↓0.9% $216.1M	XRP $1.3753 ↑1.9% $126.6M	ADA $1.2994 ↑2.6% $84.1M
USDC $0.9999 ↑0.0% $46.7M	DOT $40.310 ↓2.6% $39.1M	LTC $245.33 ↓2.9% $34.7M	TRX $0.1331 ↑8.9% $33.3M	FLOW $37.468 ↑11% $30.6M
UNI $37.402 ↑25% $23.6M	FIL $166.62 ↓7.0% $18.9M	XLM $0.5751 ↓1.0% $18.6M	XDG $0.0712 ↓3.4% $17.9M	XMR $321.10 ↓2.8% $17.9M
LINK $32.707 ↓3.9% $12.3M	MANA $1.0822 ↑1.0% $11.5M	BCH $669.88 ↓3.0% $11.0M	SC $0.0266 ↓3.5% $9.87M	ALGO $1.4637 ↓4.1% $9.85M
GRT $2.0962 ↑9.6% $9.61M	AAVE $403.67 ↑8.4% $9.51M	ATOM $22.173 ↓5.6% $9.42M	KSM $428.66 ↓2.4% $9.33M	EOS $6.4521 ↓4.5% $7.34M
XTZ $6.2194 ↓3.5% $6.97M	ZEC $218.94 ↓1.5% $5.36M	DASH $277.71 ↓3.4% $4.59M	STORJ $2.4142 ↓0.7% $4.51M	DAI $0.9994 ↓0.03% $4.08M
COMP $446.04 ↓3.0% $3.75M	SNX $19.596 ↑3.0% $3.13M	ICX $2.6855 ↑4.2% $3.06M	OMG $9.6585 ↑0.3% $2.8M	BAT $1.4119 ↓2.1% $2.57M
KAVA $6.5938 ↓5.9% $2.53M	OCEAN $1.6560 ↓3.6% $2.42M	QTUM $14.663 ↓1.9% $2.27M	CRV $3.0164 ↓3.2% $2.18M	ANT $10.697 ↓4.6% $1.93M
NANO $5.6921 ↑1.4% $1.91M	KNC $3.5034 ↓4.6% $1.86M	YFI $42840. ↓5.2% $1.68M	ETC $19.193 ↓5.8% $1.44M	OXT $0.7723 ↓3.9% $1.43M
WAVES $15.288 ↓2.2% $1.35M	REP $47.281 ↓4.1% $1.27M	LSK $6.4095 ↓6.1% $1.09M	KEEP $0.7189 ↓4.0% $1.07M	EWT $16.354 ↓4.3% $768K
MLN $85.518 ↓4.3% $674K	PAXG $1741.0 ↓1.0% $663K	BAL $51.182 ↓1.2% $600K	REPV2 $46.957 ↓4.2% $367K	GNO $172.93 ↓0.03% $292K
TBTC $60697. ↓0.8% $50.2K

#####################. Trading Volume by Asset. ##########################################

Trading Volume by Asset

The figures below break down the trading volume of the largest, mid-size, and smallest assets. Cryptos are in purple, fiats are in blue. For each asset, the chart contains the daily trading volume in USD, and the percentage of the total trading volume. The percentages for fiats and cryptos are treated separately, so that they both add up to 100%.

Figure 1: Largest trading assets: trading volume (measured in USD) and its percentage of the total trading volume (April 12 2021)

Figure 2: Mid-size trading assets: (measured in USD) (April 12 2021)

Figure 3: Smallest trading assets: (measured in USD) (April 12 2021)

#####################. Spread %. ##########################################

Spread %

Spread percentage is the width of the bid/ask spread divided by the bid/ask midpoint. The values are generated by taking the median spread percentage over each minute, then the average of the medians over the day.

Figure 4: Average spread % by pair (April 12 2021)

.

#########. Returns and Volume ############################################

Returns and Volume

Figure 5: Returns of the four highest volume pairs (April 12 2021)

Figure 6: Volume of the major currencies and an average line that fits the data to a sinusoidal curve to show the daily volume highs and lows (April 12 2021)

###########. Daily Returns. #################################################

Daily Returns %

Figure 7: Returns over USD and XBT. Relative volume and return size is indicated by the size of the font. (April 12 2021)

###########. Disclaimer #################################################

The values generated in this report are from public market data distributed from Kraken WebSockets api. The total volumes and returns are calculated over the reporting day using UTC time.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://blog.kraken.com/post/8612/kraken-daily-market-report-for-april-12-2021/

Blockchain

Bitcoin Prepares For its Next Move: Where is the 100 SMA, the Key BTC Level?

Published

2 hours ago

April 13, 2021

Republished by Plato

Bitcoin price is consolidating above the $59,500 support zone against the US Dollar. BTC is now showing a few positive signs, but it must clear $61,200 for a fresh rally in the near term.

Bitcoin is holding gains above the $60,000 and $59,500 support levels.
The price is now trading well above the $59,500 level and the 100 hourly simple moving average.
There is a key bullish trend line forming with support near $59,400 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair is likely to start a sharp upward move once it clears the $60,800 and $61,200 levels.

Bitcoin Price is Showing Positive Signs

Bitcoin remained in a range above the $59,000 level and it is showing a few positive signs. Recently, BTC made another attempt to clear the $61,200 resistance, but it failed.

It corrected lower and retested the $59,500 support level. A low is formed near $59,432 and the price is now moving higher. It is also trading well above the $59,500 level and the 100 hourly simple moving average.

There was a break above the 50% Fib retracement level of the recent decline from the $61,212 high to $59,432 low. There is also a key bullish trend line forming with support near $59,400 on the hourly chart of the BTC/USD pair.

Source: BTCUSD on TradingView.com

Bitcoin is now trading above $60,400, but it is facing resistance near $60,800. It is close to the 76.4% Fib retracement level of the recent decline from the $61,212 high to $59,432 low.

A successful break above the $60,800 level could open the doors for a move above $61,200. If the bulls succeed in clearing $61,200, the price could rally in the coming sessions.

Dips Limited in BTC?

If bitcoin fails to climb above $60,800 and $61,200, there could be a short-term downside correction. An initial support on the downside is near the $60,000 level.

The main support is now forming near the trend line, $59,500 and the 100 hourly simple moving average. If the bulls fail to protect the 100 hourly SMA, there could be a major decline. In this case, the price might decline towards the $58,000 level.

Technical indicators:

Hourly MACD – The MACD is now gaining momentum in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now well above the 50 level.

Major Support Levels – $59,500, followed by $59,000.

Major Resistance Levels – $60,800, $61,200 and $62,000.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.newsbtc.com/analysis/btc/bitcoin-prepares-for-next-move-61k/

Blockchain

USDT, USDC, and BUSD represent 93% of stablecoin market cap

Published

2 hours ago

April 13, 2021

Republished by Plato

Research from on-chain analytics provider Glassnode has revealed that the top three stablecoins represent more than 90% of the sector’s entire market cap.

Glassnode’s April 13 “Week On-chain” report found that the top three stablecoins — Tether (USDT), USD Coin (USDC), and Binance USD (BUSD) — have seen significant growth over the past six months to represent a combined capitalization of more than $60 billion, equal to 92.75% of the stablecoin market.

By contrast, six months ago the combined stablecoin capitalization for those three was less than one-third of its current levels at $19.2 billion. This time last year, stablecoins were worth just $7 billion combined.

The analysis compared the growth of stablecoins with Bitcoin’s market cap, identifying a clear correlation between the two. The report also found that USDT’s supply has continued to increase during recent weeks despite BTC trending sideways, whereas growth for USDC and BUSD has slowed.

*BTC market cap vs stablecoin supply: Glassnode*

The report notes historic lows for its Stablecoin Supply Ratio (SSR) metric, which measures Bitcoin’s market cap relative to the total stablecoin supply to estimate the global “buying power” of the stablecoin sector.

When BTC prices are low, the supply of stablecoins can buy a larger portion of it to push prices up. Conversely, as prices increase the available stablecoins can purchase less which reduces the influence on prices. Glassnode concluded:

“The growth of stablecoin supplies throughout 2020-21 has held the SSR metric near historical lows suggesting a relatively high buying power of digitally native dollars. The demand for digital dollars appears to be keeping pace with demand for Bitcoin and cryptocurrencies as a whole.”

Tether’s market cap has over doubled since the beginning of 2021 to currently sit at a record $45.6 billion, according to the Tether transparency report. Circle’s website reported an all-time high of $11.5 billion USDC on April 9, while Goingecko estimated BUSD’s supply to be $5.1 billion on April 13.

On April 7, Circle CEO Jeremy Allaire predicted its USDC stablecoin could soon surpass PayPal by settlement value.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cointelegraph.com/news/usdt-usdc-and-busd-represent-93-of-stablecoin-market-cap