Biggest Movers: XMR Moves to 10-Day High, AAVE Remains Near 5-Week Peak
Monero raced to its highest point in ten days, as the token moved past a key resistance level on Wednesday. Today’s move sees the token rise higher for a fourth consecutive day, following a rebound from its long-term floor. Aave was also in the green, as it remained close to a five-week peak.
Despite cryptocurrency markets mostly trading lower on Wednesday, monero (XMR) was one of the exceptions, as it extended recent gains.
XMR/USD surged to an intraday peak of $148.46 earlier in today’s session, which comes less than 24 hours after it was trading at a low of $145.41.
Today’s move sees monero in the green for the fourth straight session, resulting in prices hitting their highest point since October 9.
Looking at the chart, hump day’s peak came following a breakout of a key resistance point of $147.00.
Another key observation can be seen from the 14-day relative strength index (RSI), which also moved past a ceiling of its own, at 52.75.
As of writing, the index is tracking at 53.88, which is its highest point since September 12.
Aave (AAVE) continued to trade near a multi-week high in today’s session, as the token remained near its recent ceiling.
Following a move to a five-week high of $83.33 on Tuesday, AAVE/USD hit a peak of $83.19 earlier today.
Yesterday’s high saw the token marginally break out of a resistance level of $83.30, with bulls attempting to stay close to this point today.
Bullish sentiment remains high, as the 10-day (red), and 25-day (blue) moving averages look set for an upwards crossover.
Should this happen, the current ceiling of $83.30 will likely be broken, with bulls potentially targeting the $90.00 level.
The RSI is currently tracking at 60.33, which is its strongest point since mid-August, and this could give an entrance for bears hoping to push the overbought market lower.
Monero raced to its highest point in ten days, as the token moved past a key resistance level on Wednesday. Today’s move sees the token rise higher for a fourth consecutive day, following a rebound from its long-term floor. Aave was also in the green, as it remained close to a five-week peak.
Despite cryptocurrency markets mostly trading lower on Wednesday, monero (XMR) was one of the exceptions, as it extended recent gains.
XMR/USD surged to an intraday peak of $148.46 earlier in today’s session, which comes less than 24 hours after it was trading at a low of $145.41.
Today’s move sees monero in the green for the fourth straight session, resulting in prices hitting their highest point since October 9.
Looking at the chart, hump day’s peak came following a breakout of a key resistance point of $147.00.
Another key observation can be seen from the 14-day relative strength index (RSI), which also moved past a ceiling of its own, at 52.75.
As of writing, the index is tracking at 53.88, which is its highest point since September 12.
Aave (AAVE) continued to trade near a multi-week high in today’s session, as the token remained near its recent ceiling.
Following a move to a five-week high of $83.33 on Tuesday, AAVE/USD hit a peak of $83.19 earlier today.
Yesterday’s high saw the token marginally break out of a resistance level of $83.30, with bulls attempting to stay close to this point today.
Bullish sentiment remains high, as the 10-day (red), and 25-day (blue) moving averages look set for an upwards crossover.
Should this happen, the current ceiling of $83.30 will likely be broken, with bulls potentially targeting the $90.00 level.
The RSI is currently tracking at 60.33, which is its strongest point since mid-August, and this could give an entrance for bears hoping to push the overbought market lower.
🔥 HYPE HEROS 🔥
Hype City is a digital networking platform & ecosystem developed by major companies, influencers, and blue-chip investors, aiming to have our own digital platform optimized with alpha strategies & information. Our team has been early to some of the top NFT projects, working as a group to better achieve & reach new goals and connect with fellow 6-7 figure investors in NFTs/crypto. By minting a HYPE HERO NFT you will be granted access to a private community with exclusive alpha for holders only.
✨ Implementing Utilities (Post-Mint) ✨
👉 Opening up our Alpha Server via discord.
👉 Gaining exclusive whitelist spots for our NFT holders.
👉 Getting our holders to connect with blue chip whales.
👉 Open up voting for our holders for future plans & ideas.
✨ Long Term Sustainability ✨
🔹 Get access to our private community receiving information from whales & blue chip investors leading you to information before others to invest before projects get big.
🔹Access to our ALPHA strategies to fit your trading style weather you’re a long term investor or a short term trader.
Members will get EXCLUSIVE ACCESS To Hype Heros :
🚀 Exclusive access to Discord, chatroom, experienced traders, helpful information.
🚀 HYPE HERO bots & insights on trades & investing.
🚀 Online Events & Webinars
🚀 Exclusive Allow lists
🚀 In person parties & in metaverse
Whether you’re trading, developing, or a long term investor, we will make finding a way to increase your profit our top priority. 🥳
✅To Enter:
- Join their Discord: https://discord.gg/J2SzvXDjWt
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- Check our website : https://hypeheros.com/
Hurry and sign up for the pre-mint : https://www.premint.xyz/hype-heros/ ⌛️
1 ETH required in wallet to qualify
Hype City is a digital networking platform & ecosystem developed by major companies, influencers, and blue-chip investors, aiming to have our own digital platform optimized with alpha strategies & information. Our team has been early to some of the top NFT projects, working as a group to better achieve & reach new goals and connect with fellow 6-7 figure investors in NFTs/crypto. By minting a HYPE HERO NFT you will be granted access to a private community with exclusive alpha for holders only.
✨ Implementing Utilities (Post-Mint) ✨
👉 Opening up our Alpha Server via discord.
👉 Gaining exclusive whitelist spots for our NFT holders.
👉 Getting our holders to connect with blue chip whales.
👉 Open up voting for our holders for future plans & ideas.
✨ Long Term Sustainability ✨
🔹 Get access to our private community receiving information from whales & blue chip investors leading you to information before others to invest before projects get big.
🔹Access to our ALPHA strategies to fit your trading style weather you’re a long term investor or a short term trader.
Members will get EXCLUSIVE ACCESS To Hype Heros :
🚀 Exclusive access to Discord, chatroom, experienced traders, helpful information.
🚀 HYPE HERO bots & insights on trades & investing.
🚀 Online Events & Webinars
🚀 Exclusive Allow lists
🚀 In person parties & in metaverse
Whether you’re trading, developing, or a long term investor, we will make finding a way to increase your profit our top priority. 🥳
✅To Enter:
- Join their Discord: https://discord.gg/J2SzvXDjWt
- Follow their Twitter: https://twitter.com/BEHYPEHEROS
- Check our website : https://hypeheros.com/
Hurry and sign up for the pre-mint : https://www.premint.xyz/hype-heros/ ⌛️
1 ETH required in wallet to qualify
Discord
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Financial literacy 101 👇
You need to spend less each month than you earned in the previous month.
Income - Expenses = Delta
Delta>0 - investment resource
Delta<0 - first make it > then start investing
Goal is to save 10-20% of monthly income.
🔹Lifehack: get your paycheck, save up the delta and forget about it.
Then, calculate your daily budget: take your last month's income (minus the delta) and divide it by 30 days. Here you have your daily budget.
If you can't control yourself, you can set a limit in your bank account. If unforeseen expenses come up, than don't take from the next days, use the financial cushion you already have.
Just like that!
❗️If you don't learn to do this with your income now, than when your income grows your losses will grow with it.
🔹Remember the 50/30/20 rule:
50% - for your needs
30% - for your wants
20% - for your financial goals: savings and paying debts
By spending less on things that aren't that important, you will have more for what's really important.
In this blog I will try to simplify as much as I can from my education in investing.
Follow for crypto advice and investing tips:
👉Gene, CEO of Earnpark
You need to spend less each month than you earned in the previous month.
Income - Expenses = Delta
Delta>0 - investment resource
Delta<0 - first make it > then start investing
Goal is to save 10-20% of monthly income.
🔹Lifehack: get your paycheck, save up the delta and forget about it.
Then, calculate your daily budget: take your last month's income (minus the delta) and divide it by 30 days. Here you have your daily budget.
If you can't control yourself, you can set a limit in your bank account. If unforeseen expenses come up, than don't take from the next days, use the financial cushion you already have.
Just like that!
❗️If you don't learn to do this with your income now, than when your income grows your losses will grow with it.
🔹Remember the 50/30/20 rule:
50% - for your needs
30% - for your wants
20% - for your financial goals: savings and paying debts
By spending less on things that aren't that important, you will have more for what's really important.
In this blog I will try to simplify as much as I can from my education in investing.
Follow for crypto advice and investing tips:
👉Gene, CEO of Earnpark
Biggest Movers: QNT Extends Recent Gains, Climbing by 10% on Saturday
Quant moved higher for a second straight session on Saturday, as prices rose by as much as 10%. The move sees the token break out of a key resistance level, with many now expecting a move towards $200. Xrp was also higher, extending recent gains in the process.
Quant (QNT) was up for a second straight day, as prices rose by as much as 10% to start the weekend.
Less than 24 hours after hitting a peak of $179.15, the token surged to an intraday high of $193.75 earlier today.
Today’s move sees QNT/USD break out of its recent resistance point of $185.00, with many now expecting prices to move back to $200.
However, earlier gains have somewhat eased, and as of writing, the token is currently trading at $182.97
Looking at the chart, the 14-day relative strength index (RSI) is now tracking at 60.88, after failing to move past a ceiling of 65.00.
Should bulls eventually overcome this obstacle, it is likely that we will see the price move back above $200.00.
Another notable mover on Saturday was XRP, which rose by over 6% to start the weekend.
XRP/USD rose to a high of $0.4668 on Saturday, which follows up from Friday’s low of $0.4418.
The move sees prices bounce from a key support point of $0.4495, moving away from a three-week low in the process.
Looking at the chart, the move comes as the 14-day RSI marginally broke out of a resistance level of 49.00.
Currently, the index is tracking at 50.03, which is the highest point price strength has hit since Tuesday, signaling a return of bullish sentiment.
Should bulls continue to maintain upward momentum, we will likely see the token formerly known as ripple moving closer to a ceiling of $0.5000.
Quant moved higher for a second straight session on Saturday, as prices rose by as much as 10%. The move sees the token break out of a key resistance level, with many now expecting a move towards $200. Xrp was also higher, extending recent gains in the process.
Quant (QNT) was up for a second straight day, as prices rose by as much as 10% to start the weekend.
Less than 24 hours after hitting a peak of $179.15, the token surged to an intraday high of $193.75 earlier today.
Today’s move sees QNT/USD break out of its recent resistance point of $185.00, with many now expecting prices to move back to $200.
However, earlier gains have somewhat eased, and as of writing, the token is currently trading at $182.97
Looking at the chart, the 14-day relative strength index (RSI) is now tracking at 60.88, after failing to move past a ceiling of 65.00.
Should bulls eventually overcome this obstacle, it is likely that we will see the price move back above $200.00.
Another notable mover on Saturday was XRP, which rose by over 6% to start the weekend.
XRP/USD rose to a high of $0.4668 on Saturday, which follows up from Friday’s low of $0.4418.
The move sees prices bounce from a key support point of $0.4495, moving away from a three-week low in the process.
Looking at the chart, the move comes as the 14-day RSI marginally broke out of a resistance level of 49.00.
Currently, the index is tracking at 50.03, which is the highest point price strength has hit since Tuesday, signaling a return of bullish sentiment.
Should bulls continue to maintain upward momentum, we will likely see the token formerly known as ripple moving closer to a ceiling of $0.5000.
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Leech Protocol - is one of the first automatic cross-chain yield aggregators that provides farming on various blockchains and platforms without going out of the protocol. Leech Protocol plans to use various farming strategies to increase profitability.
Waitlist benefits:
✅ Early access to the App Leech Protocol
✅ Participation in the progressive retrodrop of project tokens
✅ Referral program - opportunity to earn on your referrals
Join 👉https://bit.ly/3slWfbN
Biggest Movers: DOGE Hits 1-Week High as Prices Rebound on Tuesday
Dogecoin rose to a one-week high on Tuesday, as the meme coin rebounded from recent losses. The token rose by as much as 3% earlier in today’s session, moving away from a recent point of support in the process. Monero was also higher, as bulls pushed it closer to a key resistance level.
Dogecoin (DOGE) was trading higher during Tuesday’s session, as bullish sentiment returned to the market.
Earlier in today’s session, DOGE/USD raced to an intraday high of $0.06098, which comes less than 24 hours after trading at a low of $0.05907.
Today’s surge saw DOGE move away from a recent price floor of $0.0585, where it has mostly consolidated since late September.
Looking at the chart, one of the triggers of this rise in price was a breakout which took place on the 14-day relative strength index (RSI).
The index moved past its recent ceiling of 50.00, which has been in place since October 9, and it is now tracking at 51.19.
It also appears that the 10-day (red) and 25-day (blue) moving averages could cross over, which may also trigger further upward movement.
In addition to dogecoin, monero (XMR) moved higher on Tuesday, as prices headed towards a long-term resistance level.
Following a low of $142.15 on Monday, XMR/USD raced to a peak of $144.79 earlier in today’s session.
This increase in price sees the token continue to move away from a floor of $139.40, and it now looks to be heading to a ceiling of $147.00.
However, bulls targeting this point may find difficulty, as price strength appears to be hovering near a point of resistance.
The RSI is currently tracking at 50.16, which is marginally below a ceiling of 51.00, which was last properly broken in mid-September.
Should this threshold be passed, we will likely see traders attempt to take the token to a higher ceiling of $153.00.
Dogecoin rose to a one-week high on Tuesday, as the meme coin rebounded from recent losses. The token rose by as much as 3% earlier in today’s session, moving away from a recent point of support in the process. Monero was also higher, as bulls pushed it closer to a key resistance level.
Dogecoin (DOGE) was trading higher during Tuesday’s session, as bullish sentiment returned to the market.
Earlier in today’s session, DOGE/USD raced to an intraday high of $0.06098, which comes less than 24 hours after trading at a low of $0.05907.
Today’s surge saw DOGE move away from a recent price floor of $0.0585, where it has mostly consolidated since late September.
Looking at the chart, one of the triggers of this rise in price was a breakout which took place on the 14-day relative strength index (RSI).
The index moved past its recent ceiling of 50.00, which has been in place since October 9, and it is now tracking at 51.19.
It also appears that the 10-day (red) and 25-day (blue) moving averages could cross over, which may also trigger further upward movement.
In addition to dogecoin, monero (XMR) moved higher on Tuesday, as prices headed towards a long-term resistance level.
Following a low of $142.15 on Monday, XMR/USD raced to a peak of $144.79 earlier in today’s session.
This increase in price sees the token continue to move away from a floor of $139.40, and it now looks to be heading to a ceiling of $147.00.
However, bulls targeting this point may find difficulty, as price strength appears to be hovering near a point of resistance.
The RSI is currently tracking at 50.16, which is marginally below a ceiling of 51.00, which was last properly broken in mid-September.
Should this threshold be passed, we will likely see traders attempt to take the token to a higher ceiling of $153.00.
🔥 HYPE HEROS 🔥
Hype City is a digital networking platform & ecosystem developed by major companies, influencers, and blue-chip investors, aiming to have our own digital platform optimized with alpha strategies & information. Our team has been early to some of the top NFT projects, working as a group to better achieve & reach new goals and connect with fellow 6-7 figure investors in NFTs/crypto. By minting a HYPE HERO NFT you will be granted access to a private community with exclusive alpha for holders only.
✨ Implementing Utilities (Post-Mint) ✨
👉 Opening up our Alpha Server via discord.
👉 Gaining exclusive whitelist spots for our NFT holders.
👉 Getting our holders to connect with blue chip whales.
👉 Open up voting for our holders for future plans & ideas.
✨ Long Term Sustainability ✨
🔹 Get access to our private community receiving information from whales & blue chip investors leading you to information before others to invest before projects get big.
🔹Access to our ALPHA strategies to fit your trading style weather you’re a long term investor or a short term trader.
Members will get EXCLUSIVE ACCESS To Hype Hero's:
🚀 Exclusive access to Discord, chatroom, experienced traders, helpful information.
🚀 HYPE HERO bots & insights on trades & investing.
🚀 Online Events & Webinars
🚀 Exclusive Allow lists
🚀 In person parties & in metaverse
Whether you’re trading, developing, or a long term investor, we will make finding a way to increase your profit our top priority 💰
- Join Discord: https://discord.gg/J2SzvXDjWt
- Follow Twitter: https://twitter.com/BEHYPEHEROS
Sign up for the pre-mint : https://www.premint.xyz/hype-heros/
1 ETH required in wallet to qualify
Hype City is a digital networking platform & ecosystem developed by major companies, influencers, and blue-chip investors, aiming to have our own digital platform optimized with alpha strategies & information. Our team has been early to some of the top NFT projects, working as a group to better achieve & reach new goals and connect with fellow 6-7 figure investors in NFTs/crypto. By minting a HYPE HERO NFT you will be granted access to a private community with exclusive alpha for holders only.
✨ Implementing Utilities (Post-Mint) ✨
👉 Opening up our Alpha Server via discord.
👉 Gaining exclusive whitelist spots for our NFT holders.
👉 Getting our holders to connect with blue chip whales.
👉 Open up voting for our holders for future plans & ideas.
✨ Long Term Sustainability ✨
🔹 Get access to our private community receiving information from whales & blue chip investors leading you to information before others to invest before projects get big.
🔹Access to our ALPHA strategies to fit your trading style weather you’re a long term investor or a short term trader.
Members will get EXCLUSIVE ACCESS To Hype Hero's:
🚀 Exclusive access to Discord, chatroom, experienced traders, helpful information.
🚀 HYPE HERO bots & insights on trades & investing.
🚀 Online Events & Webinars
🚀 Exclusive Allow lists
🚀 In person parties & in metaverse
Whether you’re trading, developing, or a long term investor, we will make finding a way to increase your profit our top priority 💰
- Join Discord: https://discord.gg/J2SzvXDjWt
- Follow Twitter: https://twitter.com/BEHYPEHEROS
Sign up for the pre-mint : https://www.premint.xyz/hype-heros/
1 ETH required in wallet to qualify
Discord
Join the Hype Heros Discord Server!
Check out the Hype Heros community on Discord - hang out with 5,209 other members and enjoy free voice and text chat.
Huobi Global to Delist HUSD — Stablecoin Slips Below $1 Parity to $0.89
On Thursday, the cryptocurrency exchange Huobi Global announced that the trading platform plans to delist the stablecoin HUSD and the delisting will begin at 08:00 (UTC) on October 28, 2022. Furthermore, users with HUSD held on the exchange will see their balances auto-converted to the stablecoin asset tether and the exchange expects to complete the full conversion by November 4.
Huobi is set to delist the stablecoin HUSD according to an update from the exchange published on Thursday. The trading platform detailed that it is “delisting HUSD in compliance with Article 11 of Huobi Global Token Management Rules.” The termination and delisting period will begin on Friday and amid the delisting period up until November 4, 2022, Huobi’s customers will see their HUSD auto-converted into tether (USDT) at a 1:1 ratio. The move follows Tron founder Justin Sun’s backing of Huobi and telling Bloomberg he’s “one of the biggest holders” of Huobi tokens worldwide.
HUSD is a stablecoin first introduced in a blog post published by Huobi Global on October 19, 2018, and it was originally built on top of Ethereum. The ERC20 token is backed 1:1 with the U.S. dollar and 187,817,004 are circulating in the wild today. In addition to Ethereum, HUSD is also compatible with other token standards like HECO, TRC20, and CRC20. Between all the chains the HUSD web portal says that it has a market valuation of around $223 million, while coingecko stats show $187 million.
While Huobi introduced HUSD, the stablecoin asset is issued and managed by the Hong Kong-based firm Stable Universal. After the announcement on Thursday, the stablecoin HUSD depegged from the token’s $1 parity down to $0.9549 per unit at 7:09 p.m. (ET). Thursday evening’s depegging event was not HUSD’s first rodeo derailing off of the $1 parity range. On August 18, HUSD slipped below the USD peg to $0.82 per token and on October 11, the coin dropped to $0.90 per unit.
The HUSD delisting and auto-conversions to USDT follow Binance’s move to auto-convert three different stablecoins into BUSD. Wazirx also opted to auto-convert its customers’ stablecoin assets into BUSD. Moreover, the top two stablecoins by market valuation — USDT and USDC — have seen their coins in circulation drop by tens of billions. On Friday morning at around 5:23 a.m. (ET), HUSD slid off the $1 peg again, dropping to a low of $0.899 per unit.
On Thursday, the cryptocurrency exchange Huobi Global announced that the trading platform plans to delist the stablecoin HUSD and the delisting will begin at 08:00 (UTC) on October 28, 2022. Furthermore, users with HUSD held on the exchange will see their balances auto-converted to the stablecoin asset tether and the exchange expects to complete the full conversion by November 4.
Huobi is set to delist the stablecoin HUSD according to an update from the exchange published on Thursday. The trading platform detailed that it is “delisting HUSD in compliance with Article 11 of Huobi Global Token Management Rules.” The termination and delisting period will begin on Friday and amid the delisting period up until November 4, 2022, Huobi’s customers will see their HUSD auto-converted into tether (USDT) at a 1:1 ratio. The move follows Tron founder Justin Sun’s backing of Huobi and telling Bloomberg he’s “one of the biggest holders” of Huobi tokens worldwide.
HUSD is a stablecoin first introduced in a blog post published by Huobi Global on October 19, 2018, and it was originally built on top of Ethereum. The ERC20 token is backed 1:1 with the U.S. dollar and 187,817,004 are circulating in the wild today. In addition to Ethereum, HUSD is also compatible with other token standards like HECO, TRC20, and CRC20. Between all the chains the HUSD web portal says that it has a market valuation of around $223 million, while coingecko stats show $187 million.
While Huobi introduced HUSD, the stablecoin asset is issued and managed by the Hong Kong-based firm Stable Universal. After the announcement on Thursday, the stablecoin HUSD depegged from the token’s $1 parity down to $0.9549 per unit at 7:09 p.m. (ET). Thursday evening’s depegging event was not HUSD’s first rodeo derailing off of the $1 parity range. On August 18, HUSD slipped below the USD peg to $0.82 per token and on October 11, the coin dropped to $0.90 per unit.
The HUSD delisting and auto-conversions to USDT follow Binance’s move to auto-convert three different stablecoins into BUSD. Wazirx also opted to auto-convert its customers’ stablecoin assets into BUSD. Moreover, the top two stablecoins by market valuation — USDT and USDC — have seen their coins in circulation drop by tens of billions. On Friday morning at around 5:23 a.m. (ET), HUSD slid off the $1 peg again, dropping to a low of $0.899 per unit.
Bitcoin, Ethereum Technical Analysis: ETH Above $1,600 as Markets Begin to Anticipate Fed Rate Decision
Ethereum was trading above $1,600 on Monday, as markets prepared for the latest U.S. Federal Reserve policy meeting. The Fed is expected to hike rates by 75 basis points this week, as inflation remains at historical highs. Bitcoin also rebounded, hovering marginally below $21,000 in today’s session.
Bitcoin (BTC) remained closer to $21,000 on Monday, as markets rebounded from yesterday’s sell-off.
Following Sunday’s low of $20,461.72, BTC/USD surged to an intraday peak of $20,791.67 earlier today.
The move sees the token edge closer to Saturday’s high of $21,080, which was the strongest point the token had hit since September 13.
Looking at the chart, Monday’s surge sent BTC close to its long-term price resistance of $20,800, which hasn’t truly been broken since early September.
Price strength has also rebounded, with the 14-day relative strength index (RSI) now tracking at 61.47, which is close to its own ceiling of 63.00.
In order for BTC to move past $21,000, bullish pressure will first need to overcome this current threshold on the RSI.
Ethereum (ETH) was also in the green to start the week, as the token continued to trade above $1,600.
ETH/USD moved to a high of $1,623.68 earlier in today’s session, which comes less than 24 hours after trading at a low of $1,567.57.
Today’s rise in prices comes as the world’s second largest cryptocurrency climbed above its ceiling of $1,585.
As can be seen from the chart, the upward crossover of the 10-day (red), and 25-day (blue) moving averages seems to be reaching a summit, which could be a sign of slowing momentum.
The RSI is also in overbought territory, which means bears could be already positioning themselves for reentry.
Wednesday’s United States Federal Open Market Committee (FOMC) meeting could likely be the trigger which either extends current momentum, or shifts its direction.
Ethereum was trading above $1,600 on Monday, as markets prepared for the latest U.S. Federal Reserve policy meeting. The Fed is expected to hike rates by 75 basis points this week, as inflation remains at historical highs. Bitcoin also rebounded, hovering marginally below $21,000 in today’s session.
Bitcoin (BTC) remained closer to $21,000 on Monday, as markets rebounded from yesterday’s sell-off.
Following Sunday’s low of $20,461.72, BTC/USD surged to an intraday peak of $20,791.67 earlier today.
The move sees the token edge closer to Saturday’s high of $21,080, which was the strongest point the token had hit since September 13.
Looking at the chart, Monday’s surge sent BTC close to its long-term price resistance of $20,800, which hasn’t truly been broken since early September.
Price strength has also rebounded, with the 14-day relative strength index (RSI) now tracking at 61.47, which is close to its own ceiling of 63.00.
In order for BTC to move past $21,000, bullish pressure will first need to overcome this current threshold on the RSI.
Ethereum (ETH) was also in the green to start the week, as the token continued to trade above $1,600.
ETH/USD moved to a high of $1,623.68 earlier in today’s session, which comes less than 24 hours after trading at a low of $1,567.57.
Today’s rise in prices comes as the world’s second largest cryptocurrency climbed above its ceiling of $1,585.
As can be seen from the chart, the upward crossover of the 10-day (red), and 25-day (blue) moving averages seems to be reaching a summit, which could be a sign of slowing momentum.
The RSI is also in overbought territory, which means bears could be already positioning themselves for reentry.
Wednesday’s United States Federal Open Market Committee (FOMC) meeting could likely be the trigger which either extends current momentum, or shifts its direction.
Bitcoin, Ethereum Technical Analysis: BTC, ETH Move Lower on Thursday, After Hawkish Fed Rate Hike
Bitcoin fell towards the $20,000 mark on Thursday, after the U.S. Federal Reserve once again moved to increase interest rates. The Fed hiked rates by 75 basis points (bps), as it chose to maintain its current hawkish policy. Ethereum, which initially surged on the news, was also lower in today’s session.
Bitcoin (BTC) dropped in Thursday’s session, as bearish sentiment rose, following the aftermath of yesterday’s Fed meeting.
Following the Federal Reserve’s decision to maintain current hawkish policy by raising rates, BTC/USD surged to a peak of $20,742.81.
However, this sentiment has shifted, as markets now expect this to be the last such hike by the Fed, who may begin to pivot.
BTC/USD fell to a low of $20,087.13 earlier in the day, and came as bears attempted to take the token below $20,000.
As of writing this, the 14-day relative strength index (RSI) is now tracking at 51.84, which is below a floor of 53.00.
Should this momentum continue into the weekend, many expect BTC to be trading close to its long-term support of $19,600.
In addition to bitcoin, ethereum (ETH) was also volatile following the Fed’s decision to hike rates by 75 basis points.
ETH/USD which initially rose to a high of $1,613.41 on the news, slipped to a intraday low of $1,507.24 on thursday.
The move sees the token now fall for a fifth straight session, following last week’s gains, which saw prices hit a 6-week high.
Looking at the chart, the decline has sent the RSI to a long term floor of 58.00, with bears attempting to break below this point.
As of writing, bulls have so far rejected this, with the world’s second largest token somewhat rebounding.
ETH is currently trading at $1,531.53, with the 10-day (red) moving average still upwards facing, which could be a sign of resilient bulls awaiting the time to increase market pressure.
Bitcoin fell towards the $20,000 mark on Thursday, after the U.S. Federal Reserve once again moved to increase interest rates. The Fed hiked rates by 75 basis points (bps), as it chose to maintain its current hawkish policy. Ethereum, which initially surged on the news, was also lower in today’s session.
Bitcoin (BTC) dropped in Thursday’s session, as bearish sentiment rose, following the aftermath of yesterday’s Fed meeting.
Following the Federal Reserve’s decision to maintain current hawkish policy by raising rates, BTC/USD surged to a peak of $20,742.81.
However, this sentiment has shifted, as markets now expect this to be the last such hike by the Fed, who may begin to pivot.
BTC/USD fell to a low of $20,087.13 earlier in the day, and came as bears attempted to take the token below $20,000.
As of writing this, the 14-day relative strength index (RSI) is now tracking at 51.84, which is below a floor of 53.00.
Should this momentum continue into the weekend, many expect BTC to be trading close to its long-term support of $19,600.
In addition to bitcoin, ethereum (ETH) was also volatile following the Fed’s decision to hike rates by 75 basis points.
ETH/USD which initially rose to a high of $1,613.41 on the news, slipped to a intraday low of $1,507.24 on thursday.
The move sees the token now fall for a fifth straight session, following last week’s gains, which saw prices hit a 6-week high.
Looking at the chart, the decline has sent the RSI to a long term floor of 58.00, with bears attempting to break below this point.
As of writing, bulls have so far rejected this, with the world’s second largest token somewhat rebounding.
ETH is currently trading at $1,531.53, with the 10-day (red) moving average still upwards facing, which could be a sign of resilient bulls awaiting the time to increase market pressure.
Crypto Exchange Bybit Does Not Plan to Sanction Russian Users Despite MAS Call, Report
Cryptocurrency exchange Bybit has no intention to introduce restrictions for Russian traders, despite a recent reminder by the Monetary Authority of Singapore (MAS) about the obligations of crypto providers in that respect. According to a crypto media report, the platform shared its position in correspondence with partners.
Singapore-based crypto exchange Bybit will not restrict users from the Russian Federation, despite the city-state’s central bank reiterating this week that licensed coin trading platforms must comply with sanctions imposed over Moscow’s ongoing invasion of Ukraine.
In response to numerous queries and publications alleging that Bybit will not be available in Russia due to the measures introduced by Singapore, the exchange pointed out that it is headquartered and registered in Dubai and emphasized:
We have stated several times that we do not discriminate against crypto users based on their location and passport.
Restrictions may affect only clients in jurisdictions that do not allow futures trading without license, as is the case with the United States, Singapore, and China among others, Bybit said. It made the comments in a message to partners shared by a source with the Getblock Magazine and quoted by other Russian-language crypto news outlets.
According to the report, Bybit further insisted that its team is doing everything possible to provide all users with equal access to its platform and is working to ensure their funds are safe and they have the best trading experience.
On Monday, the MAS also said that pro-Russian groups have been using digital asset exchanges to raise millions of dollars in crypto donations to support Russia’s military effort in Ukraine, citing studies conducted by blockchain forensics firms Chainalysis and TRM Labs.
Established in 2018, Bybit currently offers almost 200 currency pairs, has a daily trading volume exceeding $900 million and over 1.6 million users, the report notes. The platform is not the only global exchange that has had to address the Russia sanctions topic.
In October, the world’s largest coin trading platform, Binance, pointed to the lack of clarity regarding compliance with the EU restrictions. After previously banning only “high-value” crypto-asset services for Russian residents and companies, the Union’s eighth sanctions package prohibited European companies from providing all crypto wallet, account, or custody services to Russians.
During a press conference in Lisbon this week, Binance CEO Changpeng Zhao described the situation around the European sanctions as “tricky.” Replying to a question by Coindesk asking if the exchange would follow the decisions of other crypto companies and restrict Russian accounts, CZ admitted he did not have a definitive answer. He also noted that Binance is licensed in different jurisdictions and must comply with their regulations but emphasized the company is not against any people.
Cryptocurrency exchange Bybit has no intention to introduce restrictions for Russian traders, despite a recent reminder by the Monetary Authority of Singapore (MAS) about the obligations of crypto providers in that respect. According to a crypto media report, the platform shared its position in correspondence with partners.
Singapore-based crypto exchange Bybit will not restrict users from the Russian Federation, despite the city-state’s central bank reiterating this week that licensed coin trading platforms must comply with sanctions imposed over Moscow’s ongoing invasion of Ukraine.
In response to numerous queries and publications alleging that Bybit will not be available in Russia due to the measures introduced by Singapore, the exchange pointed out that it is headquartered and registered in Dubai and emphasized:
We have stated several times that we do not discriminate against crypto users based on their location and passport.
Restrictions may affect only clients in jurisdictions that do not allow futures trading without license, as is the case with the United States, Singapore, and China among others, Bybit said. It made the comments in a message to partners shared by a source with the Getblock Magazine and quoted by other Russian-language crypto news outlets.
According to the report, Bybit further insisted that its team is doing everything possible to provide all users with equal access to its platform and is working to ensure their funds are safe and they have the best trading experience.
On Monday, the MAS also said that pro-Russian groups have been using digital asset exchanges to raise millions of dollars in crypto donations to support Russia’s military effort in Ukraine, citing studies conducted by blockchain forensics firms Chainalysis and TRM Labs.
Established in 2018, Bybit currently offers almost 200 currency pairs, has a daily trading volume exceeding $900 million and over 1.6 million users, the report notes. The platform is not the only global exchange that has had to address the Russia sanctions topic.
In October, the world’s largest coin trading platform, Binance, pointed to the lack of clarity regarding compliance with the EU restrictions. After previously banning only “high-value” crypto-asset services for Russian residents and companies, the Union’s eighth sanctions package prohibited European companies from providing all crypto wallet, account, or custody services to Russians.
During a press conference in Lisbon this week, Binance CEO Changpeng Zhao described the situation around the European sanctions as “tricky.” Replying to a question by Coindesk asking if the exchange would follow the decisions of other crypto companies and restrict Russian accounts, CZ admitted he did not have a definitive answer. He also noted that Binance is licensed in different jurisdictions and must comply with their regulations but emphasized the company is not against any people.
💫$MRST Listing on OKX🚀
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💜 Check out The Mars: Metaverse Project
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💜 Join OKX:
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$MRST is being listed on the top tier global exchange OKX!
1️⃣ MRST deposits open at 8:00 am UTC on Nov. 7
2️⃣ MRST/USDT, MRST/USDC Spot trading open at 9:00 am UTC on Nov. 9
3️⃣ MRST withdrawals open at 10:00 am UTC on Nov. 10
Spot trading as well as DEX will be available!
👇10,000 $MRST AIRDROP EVENT👇
https://gleam.io/Zxf8k/mrst-listing
💜 Check out The Mars: Metaverse Project
https://linktr.ee/mars_labs
💜 Join OKX:
https://okx.com/join/55599569
Bitcoin, Ethereum Technical Analysis: BTC at 2-Year Low, ETH Down 20% as FTX Turmoil Leads to Crypto Bloodbath
Bitcoin plunged to a two-year low on Wednesday, as the FTX token sell-off continued to weigh on cryptocurrency markets. After an initial 30% slide, FTX token fell by as much as 80%, as Binance confirmed its intention to absorb the failing exchange. Ethereum was also lower, dropping below $1,200.
Bitcoin (BTC) fell to its lowest level in two years on Wednesday, as markets continued to react to the volatility caused by the FTX/Binance affair.
The world’s largest cryptocurrency plunged to a low of $17,402.55 earlier in today’s session, less than a day after trading at a high of $20,582.24.
This move, which saw prices plummet by as much as 10%, took BTC/USD to its lowest level since November 2020.
As can be seen from the chart, the decline intensified when the token fell below its long-term support level of $19,000.
In addition to this, the 14-day relative strength index (RSI) has also slipped to a floor of its own, which is near the 29.75 level.
BTC has somewhat rebounded from earlier lows, with the token now trading at $17,718.95, with some bulls hoping for a support around $17,900 to be established.
In addition to BTC, ethereum (ETH) also fell considerably in today’s session, as prices dropped below $1,200 in the process.
Following a high of $1,564.55 on Tuesday, ETH/USD was down by as much as 20%, hitting a low of $1,157.23 .
This drop saw ETH move to its lowest level since July 14, when the token was trading slightly above $1,000.
Like with bitcoin above, the RSI on this ethereum chart is now tracking at 33.00, which is marginally above a floor of 32.50.
This reading, which is the weakest reading in the last five months, means that prices are now in oversold territory, which long-term bulls believe means that a bottom has been hit.
However, the 10-day (red) moving average continues to fall downward, and should this trend continue, it is likely that ETH will move below $1,000.
Bitcoin plunged to a two-year low on Wednesday, as the FTX token sell-off continued to weigh on cryptocurrency markets. After an initial 30% slide, FTX token fell by as much as 80%, as Binance confirmed its intention to absorb the failing exchange. Ethereum was also lower, dropping below $1,200.
Bitcoin (BTC) fell to its lowest level in two years on Wednesday, as markets continued to react to the volatility caused by the FTX/Binance affair.
The world’s largest cryptocurrency plunged to a low of $17,402.55 earlier in today’s session, less than a day after trading at a high of $20,582.24.
This move, which saw prices plummet by as much as 10%, took BTC/USD to its lowest level since November 2020.
As can be seen from the chart, the decline intensified when the token fell below its long-term support level of $19,000.
In addition to this, the 14-day relative strength index (RSI) has also slipped to a floor of its own, which is near the 29.75 level.
BTC has somewhat rebounded from earlier lows, with the token now trading at $17,718.95, with some bulls hoping for a support around $17,900 to be established.
In addition to BTC, ethereum (ETH) also fell considerably in today’s session, as prices dropped below $1,200 in the process.
Following a high of $1,564.55 on Tuesday, ETH/USD was down by as much as 20%, hitting a low of $1,157.23 .
This drop saw ETH move to its lowest level since July 14, when the token was trading slightly above $1,000.
Like with bitcoin above, the RSI on this ethereum chart is now tracking at 33.00, which is marginally above a floor of 32.50.
This reading, which is the weakest reading in the last five months, means that prices are now in oversold territory, which long-term bulls believe means that a bottom has been hit.
However, the 10-day (red) moving average continues to fall downward, and should this trend continue, it is likely that ETH will move below $1,000.
Biggest Movers: DOGE Surges Following Elon Musk Comments on the Meme Coin
Dogecoin was one of the only crypto tokens to trade higher on Saturday, as comments from Elon Musk boosted prices. Speaking in a Twitter Spaces centered around the FTX collapse, Musk was heard saying: “Doge to the moon.” Solana on the other hand extended its declines, falling by over 15%.
Dogecoin (DOGE) was one of today’s only gainers, as the token was boosted by comments from Tesla and Twitter CEO Elon Musk.
Following a low of $0.0793 on Friday, DOGE/USD rose to a peak of $0.09399 earlier in today’s session.
This surge saw the token climb by as much as 6%, breaking out of a key resistance level of $0.08900 in the process.
Speaking in a Twitter Spaces conversation hosted by Mario Nawfal, Musk added, “I think so, don’t bet the farm on DOGE, but I’m working hard on the DOGE.”
As can be seen from the chart, today’s spike has helped push the relative strength index (RSI) of 14 days above a key ceiling of 49.30.
Currently, the index is tracking at 50.87, with the next visible point of resistance at the 53.00 mark.
Solana (SOL) on the other hand was trading significantly lower, as prices of the token dropped for a second straight session.
After climbing to a high of $18.68 earlier in Friday’s session, SOL/USD sank to a bottom of $14.92 to start the weekend.
Overall, solana is now trading by nearly 60% lower in the past seven days, with some expecting further upcoming declines.
Looking at the chart, the downward trend caused by a crossover between the 10-day (red), and 25-day (blue) moving averages has extended.
In addition to this, the RSI is tracking at a level of 34.67, with a floor of 33.55 a likely target for bears.
However, should momentum take price strength below this point, many will likely expect SOL to fall towards a weaker floor of 23.30 on the index.
Dogecoin was one of the only crypto tokens to trade higher on Saturday, as comments from Elon Musk boosted prices. Speaking in a Twitter Spaces centered around the FTX collapse, Musk was heard saying: “Doge to the moon.” Solana on the other hand extended its declines, falling by over 15%.
Dogecoin (DOGE) was one of today’s only gainers, as the token was boosted by comments from Tesla and Twitter CEO Elon Musk.
Following a low of $0.0793 on Friday, DOGE/USD rose to a peak of $0.09399 earlier in today’s session.
This surge saw the token climb by as much as 6%, breaking out of a key resistance level of $0.08900 in the process.
Speaking in a Twitter Spaces conversation hosted by Mario Nawfal, Musk added, “I think so, don’t bet the farm on DOGE, but I’m working hard on the DOGE.”
As can be seen from the chart, today’s spike has helped push the relative strength index (RSI) of 14 days above a key ceiling of 49.30.
Currently, the index is tracking at 50.87, with the next visible point of resistance at the 53.00 mark.
Solana (SOL) on the other hand was trading significantly lower, as prices of the token dropped for a second straight session.
After climbing to a high of $18.68 earlier in Friday’s session, SOL/USD sank to a bottom of $14.92 to start the weekend.
Overall, solana is now trading by nearly 60% lower in the past seven days, with some expecting further upcoming declines.
Looking at the chart, the downward trend caused by a crossover between the 10-day (red), and 25-day (blue) moving averages has extended.
In addition to this, the RSI is tracking at a level of 34.67, with a floor of 33.55 a likely target for bears.
However, should momentum take price strength below this point, many will likely expect SOL to fall towards a weaker floor of 23.30 on the index.
Renault Launches Its Industrial Metaverse, Aims to Save $330 Million by 2025
Renault, one of the biggest automakers in the world, has announced it has built the first industrial metaverse, with all its production lines supplying data to this world. According to the company, this digital twin replica will allow it to save $330 million by 2025, diminishing warranty expenses, delivery times, and the carbon footprint of its activities.
Automobile company Renault has announced that it is already running an industrial metaverse of its activities, fueled by a series of processes that allow the company to monitor data from all of its production lines. This industrial world includes the interconnection of production lines, monitoring the totality of the supply chain, and almost all of the supply flows.
The company has stated that the implementation of this tech will produce substantial benefits, including savings in the order of $330 million by 2025. The industrial metaverse will supposedly allow the company to reduce delivery times by 60% and reduce the carbon footprint of vehicle production by 50%. Warranty costs will also be reduced by 60%, according to predictions by Renault.
Jose Vicente de Los Mozos, EVP, Renault industry group and head of country Iberia, stated:
Every day, billions of pieces of data are collected within Groupe Renault’s industrial sites. The metaverse provides real-time monitoring that increases the agility and adaptability of industrial operations, as well as the quality of production and the supply chain.
Renault’s metaverse is fed by a system based on digital twins, replicas of the factories and production lines the company operates, but in a virtual world. The system is then fed with data streams coming from the same factories and production lines, that have been equipped with a massive data capture solution called ID@scale, which is currently also being offered to other companies.
This platform has already contributed to safeguarding the production process of the company, with some of its components allowing it to detect 300 alerts, avoiding 300 production line halts. Patrice Haettel, vice president of industry strategy and engineering, stated:
This industrial metaverse is unique and allows us to activate efficiency and performance levers that were previously invisible, for the benefit of people and the environment.
Other companies are also leveraging the metaverse with an industrial implementation in mind. In October, Microsoft announced it was working to bridge its services with the metaverse, to provide its cloud services to help with industrial processes as well.
Renault, one of the biggest automakers in the world, has announced it has built the first industrial metaverse, with all its production lines supplying data to this world. According to the company, this digital twin replica will allow it to save $330 million by 2025, diminishing warranty expenses, delivery times, and the carbon footprint of its activities.
Automobile company Renault has announced that it is already running an industrial metaverse of its activities, fueled by a series of processes that allow the company to monitor data from all of its production lines. This industrial world includes the interconnection of production lines, monitoring the totality of the supply chain, and almost all of the supply flows.
The company has stated that the implementation of this tech will produce substantial benefits, including savings in the order of $330 million by 2025. The industrial metaverse will supposedly allow the company to reduce delivery times by 60% and reduce the carbon footprint of vehicle production by 50%. Warranty costs will also be reduced by 60%, according to predictions by Renault.
Jose Vicente de Los Mozos, EVP, Renault industry group and head of country Iberia, stated:
Every day, billions of pieces of data are collected within Groupe Renault’s industrial sites. The metaverse provides real-time monitoring that increases the agility and adaptability of industrial operations, as well as the quality of production and the supply chain.
Renault’s metaverse is fed by a system based on digital twins, replicas of the factories and production lines the company operates, but in a virtual world. The system is then fed with data streams coming from the same factories and production lines, that have been equipped with a massive data capture solution called ID@scale, which is currently also being offered to other companies.
This platform has already contributed to safeguarding the production process of the company, with some of its components allowing it to detect 300 alerts, avoiding 300 production line halts. Patrice Haettel, vice president of industry strategy and engineering, stated:
This industrial metaverse is unique and allows us to activate efficiency and performance levers that were previously invisible, for the benefit of people and the environment.
Other companies are also leveraging the metaverse with an industrial implementation in mind. In October, Microsoft announced it was working to bridge its services with the metaverse, to provide its cloud services to help with industrial processes as well.
Cheelee: GameFi short video platform. Watch. Play. Earn.
Cheelee is the first GameFi short video platform where the user can make money while viewing the feed. Upon registration of your in-app wallet, you receive special NFT glasses, and you can start making money.
The mechanics are based on the Attention Economy model, where user’s attention is treated as a commodity for which social networks begin to pay. I looked into WP and got to the point.
Let’s take a look at some of the highlights:
1. A sustainable financial model. An extremely important indicator in the current market.
Cheelee is a social network, whose revenue is by 30% provided by advertising, in-game purchases and collaborations with brands, while for most m2e projects this figure is no more than just 1%.
2. The project is focused on a wide audience of social networks, it is 4.6 billion people, and plans to reach the 1st billion in the next 4 years.
3. The Cheelee social network was not created from scratch. There are almost three years of development behind it, 100+ team members, experience and continuity in the form of NUTSon social network with more than 1.5M uploads.
4. Free project entry. You do not need to spend hundreds and thousands of dollars to become a member of Cheelee, you just need to sign-up and start using the app.
5. You can earn without changing any of your habits. Just scroll through the feed, watch videos and get tokens.
All this sounds cool, but what about the prospects for the token price?
The emission of tokens is limited. There is a deflationary economic model, while the complexity of the mining will increase.
To support the token rates (there will be two CHEEL and LEE), the project has a Stability Fund, where up to 100% of profits from NFT sales and in-app transactions and 70% of advertising revenue, in-game purchases and collaboration with brands will be donated.
Now there is a chance to get WL and take a part in the giveaway of 50 000$!!!
http://bit.ly/3UGuuav
Cheelee is the first GameFi short video platform where the user can make money while viewing the feed. Upon registration of your in-app wallet, you receive special NFT glasses, and you can start making money.
The mechanics are based on the Attention Economy model, where user’s attention is treated as a commodity for which social networks begin to pay. I looked into WP and got to the point.
Let’s take a look at some of the highlights:
1. A sustainable financial model. An extremely important indicator in the current market.
Cheelee is a social network, whose revenue is by 30% provided by advertising, in-game purchases and collaborations with brands, while for most m2e projects this figure is no more than just 1%.
2. The project is focused on a wide audience of social networks, it is 4.6 billion people, and plans to reach the 1st billion in the next 4 years.
3. The Cheelee social network was not created from scratch. There are almost three years of development behind it, 100+ team members, experience and continuity in the form of NUTSon social network with more than 1.5M uploads.
4. Free project entry. You do not need to spend hundreds and thousands of dollars to become a member of Cheelee, you just need to sign-up and start using the app.
5. You can earn without changing any of your habits. Just scroll through the feed, watch videos and get tokens.
All this sounds cool, but what about the prospects for the token price?
The emission of tokens is limited. There is a deflationary economic model, while the complexity of the mining will increase.
To support the token rates (there will be two CHEEL and LEE), the project has a Stability Fund, where up to 100% of profits from NFT sales and in-app transactions and 70% of advertising revenue, in-game purchases and collaboration with brands will be donated.
Now there is a chance to get WL and take a part in the giveaway of 50 000$!!!
http://bit.ly/3UGuuav
GiveLab.com
Cheelee is giving $50,000!
Hanging on social networks scrolling the feed for hours? Times are changing: your attention is your...
Brazil Based FTX Customers Organizing to File Class-Action Lawsuit
A group of customers of the recently collapsed crypto exchange FTX, is organizing to take legal action against the company. The suit would be led by Ray Nasser, CEO of Arthur Mining, and will be brought by customers who had more than $100,000 on the exchange by the time of its bankruptcy.
The recent downfall of cryptocurrency exchange FTX has created issues for customers worldwide, who are now not sure about how to proceed regarding this issue. Brazilians are no exception, and one of them is leading a group to organize and exert legal action against the exchange.
The group is led by Ray Nasser, CEO of Arthur Mining, a Brazilian-led cryptocurrency mining company. The executive clarified that even if his company had no exposure to the FTX debacle, he wants to help people around him that suffered losses. He explained:
My company has zero FTX exposure, but we need to be supportive of those who have supported us all these years among investors and partners and help them as much as possible. A lot of people were hurt.
Nasser’s class-action lawsuit will be brought by customers of FTX that had more than $100,000 on the platform at the moment company funds were frozen. The lawsuit will be brought in either the U.S. or Bahamas jurisdiction, the countries where the exchange had headquarters.
Antonio Neto, head of FTX in Brazil, communicated that the downfall of the exchange took him by surprise and that he believed the company had the liquidity to face mass withdrawals. In a message sent to the Telegram group of the exchange in Brazil on Nov. 11, Neto stated he was also a victim of the unexpected situation. He stated:
All my personal funds and investments were also trapped in FTX, these are losses that are difficult to swallow. But the hardest thing is the frustration of having believed in something and shared it with family and friends who were also taken by surprise.
According to reports from Coingecko, Brazil is the tenth-ranked country most affected by FTX’s bankruptcy. Brazilian users accounted for 2.8% of the traffic on the site, with an average of 134,000 visits monthly. Colombia is the second-ranked Latam country on the list, with 1.3% of the monthly traffic.
A group of customers of the recently collapsed crypto exchange FTX, is organizing to take legal action against the company. The suit would be led by Ray Nasser, CEO of Arthur Mining, and will be brought by customers who had more than $100,000 on the exchange by the time of its bankruptcy.
The recent downfall of cryptocurrency exchange FTX has created issues for customers worldwide, who are now not sure about how to proceed regarding this issue. Brazilians are no exception, and one of them is leading a group to organize and exert legal action against the exchange.
The group is led by Ray Nasser, CEO of Arthur Mining, a Brazilian-led cryptocurrency mining company. The executive clarified that even if his company had no exposure to the FTX debacle, he wants to help people around him that suffered losses. He explained:
My company has zero FTX exposure, but we need to be supportive of those who have supported us all these years among investors and partners and help them as much as possible. A lot of people were hurt.
Nasser’s class-action lawsuit will be brought by customers of FTX that had more than $100,000 on the platform at the moment company funds were frozen. The lawsuit will be brought in either the U.S. or Bahamas jurisdiction, the countries where the exchange had headquarters.
Antonio Neto, head of FTX in Brazil, communicated that the downfall of the exchange took him by surprise and that he believed the company had the liquidity to face mass withdrawals. In a message sent to the Telegram group of the exchange in Brazil on Nov. 11, Neto stated he was also a victim of the unexpected situation. He stated:
All my personal funds and investments were also trapped in FTX, these are losses that are difficult to swallow. But the hardest thing is the frustration of having believed in something and shared it with family and friends who were also taken by surprise.
According to reports from Coingecko, Brazil is the tenth-ranked country most affected by FTX’s bankruptcy. Brazilian users accounted for 2.8% of the traffic on the site, with an average of 134,000 visits monthly. Colombia is the second-ranked Latam country on the list, with 1.3% of the monthly traffic.
Brazilian Bank Itau Unibanco to Offer Cryptocurrency Custody Services in 2023
Itau Unibanco, one of the biggest Brazilian banks, has announced it will offer cryptocurrency custody services in 2023. Itau Digital Assets, the cryptocurrency unit of the company, will be responsible for this offering, which will be first available to customers of the bank, and then to third parties as a service.
Itau Unibanco, one of the largest private banks in Brazil and Latam, has decided to step into the crypto-related services business. The company announced on Nov. 17, 2022, that it plans to launch cryptocurrency custody services in 2023. Itau Digital Assets, the division of the company that deals with all things crypto, will be in charge of the tech behind this solution.
For Itau Unibanco, custody services are an important part of the security framework that third-party companies can offer users. On this, Itau Unibanco’s product manager Eric Alftafim told O Globo:
Custody is a fundamental element in this context, because, especially in a new market like crypto assets, it brings security to investors. We will safeguard customer assets in a reliable environment.
The cryptocurrency custody service will be implemented in two phases. The first phase will allow customers of the bank to contract these services. The second phase will extend these services to third parties including other companies and institutions. Itau Unibanco expects to launch its custody solution in Q2 2023. However, the company did not reveal the assets supported by its solution.
While Itau Unibanco is one of the first banks to announce this kind of service, it is not the first in Brazil. BTG Pactual, another institution in Brazil, debuted its cryptocurrency custody services as part of the launch of its own crypto exchange, called mint, in August.
This is not the first time that Itau Unibanco flirts with crypto. The company announced that it might introduce cryptocurrency trading for its customers on July 14. In the same way, the bank is also operating a tokenization unit, that allows customers to issue tokens representing real-world assets in the bank’s own exchange.
Itau Unibanco is also part of this year’s LIFT Lab, where a series of institutions present their projects with the idea of innovating the current finance system. The company was selected to present a Brazilian real pegged stablecoin solution, that could allow for quick exchange between tokens representing other fiat currencies in a decentralized finance environment.
Itau Unibanco, one of the biggest Brazilian banks, has announced it will offer cryptocurrency custody services in 2023. Itau Digital Assets, the cryptocurrency unit of the company, will be responsible for this offering, which will be first available to customers of the bank, and then to third parties as a service.
Itau Unibanco, one of the largest private banks in Brazil and Latam, has decided to step into the crypto-related services business. The company announced on Nov. 17, 2022, that it plans to launch cryptocurrency custody services in 2023. Itau Digital Assets, the division of the company that deals with all things crypto, will be in charge of the tech behind this solution.
For Itau Unibanco, custody services are an important part of the security framework that third-party companies can offer users. On this, Itau Unibanco’s product manager Eric Alftafim told O Globo:
Custody is a fundamental element in this context, because, especially in a new market like crypto assets, it brings security to investors. We will safeguard customer assets in a reliable environment.
The cryptocurrency custody service will be implemented in two phases. The first phase will allow customers of the bank to contract these services. The second phase will extend these services to third parties including other companies and institutions. Itau Unibanco expects to launch its custody solution in Q2 2023. However, the company did not reveal the assets supported by its solution.
While Itau Unibanco is one of the first banks to announce this kind of service, it is not the first in Brazil. BTG Pactual, another institution in Brazil, debuted its cryptocurrency custody services as part of the launch of its own crypto exchange, called mint, in August.
This is not the first time that Itau Unibanco flirts with crypto. The company announced that it might introduce cryptocurrency trading for its customers on July 14. In the same way, the bank is also operating a tokenization unit, that allows customers to issue tokens representing real-world assets in the bank’s own exchange.
Itau Unibanco is also part of this year’s LIFT Lab, where a series of institutions present their projects with the idea of innovating the current finance system. The company was selected to present a Brazilian real pegged stablecoin solution, that could allow for quick exchange between tokens representing other fiat currencies in a decentralized finance environment.
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Study: 6,100 Crypto ATMs Installed in 2022, Figure 3 Times Less Than in Previous Year
New data has shown that as many as 6,100 crypto and bitcoin automated teller machines were installed in the first eleven months of 2022. The latest figure is approximately three times less than the ATMs that were installed in 2021. The data shows that the United States, which has over 34,000 crypto ATMs, accounts for nearly 90% of all the installed machines.
According to the data compiled by Crypto Presales, the approximately 6,100 crypto and bitcoin automated teller machines (ATMs) installed in the first eleven months of 2022 are almost three times less than what was installed in the same period last year. The apparent slowdown in the number of newly installed ATMs is in contrast to the rapid increase in the number of new installations that was seen in 2021.
As explained in the Crypto Presales report, the year 2021 witnessed the most crypto and bitcoin ATM installations by far — about 20,300 newly installed machines. That year’s record number of new installations brought the total number of such ATMs to 32,600.
In contrast, the year 2022, which has been dominated by bears and the collapse of Terra LUNA and UST (and more recently the collapse of FTX), has seen the number of ATMs installed drop for the first time. The report explained:
By mid-2022, there were around 37,800 crypto ATMs worldwide. The number continued rising and hit over 38,800 in August. However, in September, the number of BTMs dropped for the first time, with the total number of machines slipping to 38,400.
The report nevertheless revealed the number of installed ATMs has since recovered and was believed to have been hovering around 39,000 by mid-November 2022.
Meanwhile, the data compiled by Crypto Presales shows that the United States accounts for approximately 90% of all installed crypto and bitcoin ATMs in 2022. According to the data, Canada’s 2,688 installed ATMs occupy the second position in the top ten list of countries with the most crypto-dispensing machines. The rest of the countries in the top ten have under 300 ATMs installed.
Concerning the ownership of ATMs, the report said:
“With a 33% market share and over 12,000 machines as of November, Bitaccess represents the largest crypto ATM manufacturer globally. General Bytes ranked second with a 23% market share and around 9,000 BTMs. Genesis Coin and Bitstop follow with a 22% and 5% market share, respectively.”
The report, which relies on data from Coin ATM Radar, noted that 82% of all the installed machines support altcoins. About 80% of the ATMs support litecoin, 73% support ethereum, and only 39% support dogecoin.
New data has shown that as many as 6,100 crypto and bitcoin automated teller machines were installed in the first eleven months of 2022. The latest figure is approximately three times less than the ATMs that were installed in 2021. The data shows that the United States, which has over 34,000 crypto ATMs, accounts for nearly 90% of all the installed machines.
According to the data compiled by Crypto Presales, the approximately 6,100 crypto and bitcoin automated teller machines (ATMs) installed in the first eleven months of 2022 are almost three times less than what was installed in the same period last year. The apparent slowdown in the number of newly installed ATMs is in contrast to the rapid increase in the number of new installations that was seen in 2021.
As explained in the Crypto Presales report, the year 2021 witnessed the most crypto and bitcoin ATM installations by far — about 20,300 newly installed machines. That year’s record number of new installations brought the total number of such ATMs to 32,600.
In contrast, the year 2022, which has been dominated by bears and the collapse of Terra LUNA and UST (and more recently the collapse of FTX), has seen the number of ATMs installed drop for the first time. The report explained:
By mid-2022, there were around 37,800 crypto ATMs worldwide. The number continued rising and hit over 38,800 in August. However, in September, the number of BTMs dropped for the first time, with the total number of machines slipping to 38,400.
The report nevertheless revealed the number of installed ATMs has since recovered and was believed to have been hovering around 39,000 by mid-November 2022.
Meanwhile, the data compiled by Crypto Presales shows that the United States accounts for approximately 90% of all installed crypto and bitcoin ATMs in 2022. According to the data, Canada’s 2,688 installed ATMs occupy the second position in the top ten list of countries with the most crypto-dispensing machines. The rest of the countries in the top ten have under 300 ATMs installed.
Concerning the ownership of ATMs, the report said:
“With a 33% market share and over 12,000 machines as of November, Bitaccess represents the largest crypto ATM manufacturer globally. General Bytes ranked second with a 23% market share and around 9,000 BTMs. Genesis Coin and Bitstop follow with a 22% and 5% market share, respectively.”
The report, which relies on data from Coin ATM Radar, noted that 82% of all the installed machines support altcoins. About 80% of the ATMs support litecoin, 73% support ethereum, and only 39% support dogecoin.
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