28th September Latest Crypto News Digital Magazine
Despite the slight downturn, the institutional adoption of Bitcoin continues to increase. Filings with the United States Securities and Exchange Commission show that four wealth management firms have bought shares in Grayscale’s Bitcoin Investment Trust.
A survey of about 42,000 people in 27 countries by product comparison website Finder showed a high adoption rate in Asia. Among the countries polled, Vietnam had the highest adoption rate at 41%, while India and Indonesia had a 30% adoption rate..
OUR BLOG ARTICLES FOR THIS SPECIAL ISSUE INSURACE.IO: AN INNOVATIVE DEFI PROTOCOL TO SECURE YOUR CRYPTO INVESTMENTS
DEGETHAL: AN INNOVATIVE PROJECT IN THE CRYPTO MARKET RADIOLOGEX: WILL IT BE THE BIGGEST STO IN 2021?
BONDEX IS CREATING A BLOCKCHAIN-DRIVEN NEXT-GEN TALENT MANAGEMENT AND ACQUISITION PLATFORM
The crypto markets sold off on September 24 on news that China’s central bank, the People’s Bank of China, warned of a harsher crackdown on services such as trading, order matching, token issuance and derivatives for virtual currencies. Although the ban was not new and has been in place since 2017, the prevailing negative sentiment could have led to the knee-jerk reaction to the downside. We had warned that Bitcoin could face selling near the 20-day exponential moving average (EMA) and that is what happened. The bulls tried to push the price above the 20-day EMA on September 24 and again on September 27 but failed. However, a minor positive is that bulls have successfully defended the 100-day simple moving average (SMA) for the past few days. This indicates accumulation at this support. Hence, this becomes an important level for the bears to break. If that happens, several stop losses may trigger and the bearish momentum could pick up. The BTC/GBP pair could then slide to the support line of the descending channel pattern. A break and close below the channel will indicate panic selling and that may pull the price down to £22,000. This bearish view will invalidate if bulls drive and sustain the price above the channel. The pair could then rise to £35,525 and later to £38,000. As the trend is down and a firm bottom is not in place, we are not proposing any trades. Lastly please check out the advancement’s happening in the cryptocurrency world. Enjoy the issue!
Featuring in this weeks Edition
– Gain Protocol
CRYPTO TRADE OPPORTUNITIES
BITCOIN – BTC/GBP
We had warned that Bitcoin could face selling near the 20-day exponential moving average (EMA) and that is what happened. The bulls tried to push the price above the 20-day EMA on September 24 and again on September 27 but failed. However, a minor positive is that bulls have successfully defended the 100-day simple moving average (SMA) for the past few days. This indicates accumulation at this support. Hence, this becomes an important level for the bears to break. Read more
ETHEREUM – ETH/GBP
Ether has been sandwiched between the 100-day SMA and the 20-day EMA for the past few days. This shows that bulls are buying on dips but demand dries up at higher levels and bears assert their dominance. The 20-day EMA is sloping down and the relative strength index (RSI) is in the negative territory indicating that the path of least resistance is to the downside. Read more
RIPPLE – XRP/GBP
XRP has been trading between the 100-day SMA and the 20-day EMA for the past few days. The failure of the bulls to push the price above the 20-day EMA suggests that sentiment remains negative and traders are selling on rallies. If the price does not rise above the 20-day EMA within the next few days, the possibility of a break below the 100-day SMA increases. If that happens, the XRP/GBP pair could extend its slide to psychological support at £0.50. Read more
CARDANO – ADA/GBP
Cardano rose above the 20-day EMA on September 25 but the long wick on the day’s candlestick shows that bears aggressively sold at higher levels as we had projected in the previous analysis. The ADA/GBP pair has turned down and the bears will now try to sink the price to £1.50 followed by a retest of the critical support at £1.33. The downsloping 20-day EMA and the RSI in the negative territory indicate advantage to bears. Read more
BINANCE – BNB/GBP
Binance Coin dropped to £238.30, just below our target of £240 projected in the previous analysis. The BNB/GBP pair has been trading below the 100-day SMA for the past three days, indicating a lack of demand even at these levels. The bulls attempted to push the price above the 100-day SMA on September 27 but failed. The downsloping 20-day EMA and the RSI below 37 suggest that bears are in control. Read more
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RMRK – AN ADVANCED NFT PROJECT
ZUG, Switzerland – RMRK, an advanced non-fungible token (NFT) project, has released their Kanaria bird NFT project, ushering in the first wave of next generation NFTs. “The long anticipated release of Kanaria and trading has been well met by the community and Bruno, with vision beyond his time, has been able to achieve with the RMRK standard on Kusama what many on Ethereum are still trying to accomplish” says Mahalleinir from D1 Ventures, an early backer. Read more
ASIA BROADBAND INC. SETS SIGHTS ON EL SALVADOR FOLLOWING PLATINIUM CRYPTO ACADEMY RENEWAL
Following the launch of its innovative gold-backed crypto in March, leading US-based resource company, Asia Broadband, Inc. (OTC: AABB), is pleased to confirm that it has extended its partnership with Platinum Crypto Academy. This continuity further strengthens the brand’s commitment to the crypto industry as it sets sights on expanding into El Salvador. Read more
WELCOME THE FUTURE OF ARTS
Art maintains its uniqueness for tens of thousands of years in terms of the values it represents. From primitive cave paintings, Masaccio’s perspective abbreviation, and Duchamp’s Urinal to today’s NFT madness, although the technique and approach of art have changed, its place and importance in human history are still the same. A constant feature of art is that it is expensive. In this sense, for thousands of years, art has been shaped and valued under the influence of a lucky few. With blockchain technology, democratization in art investment has become possible. Read more
Snoop Dogg Buys XCOPY Ethereum NFT for $3.9 Million
Rapper Snoop Dogg has purchased a single NFT from artist XCOPY for nearly $3.9 million in Ethereum. Snoop recently announced that he’s been collecting NFTs under the pseudonym Cozomo de’ Medici. Since revealing himself as a notable pseudonymous NFT collector last week, rapper and entertainer Snoop Dogg hasn’t slowed down on high-value collecting. Just tonight, in fact, he spent nearly $4 million in ETH to acquire a single piece from the artist XCOPY.
Investors See Latest China Ban As Opportunity To Scoop Up More Crypto
Institutional investors are reportedly looking at China’s latest crypto ban as an opportunity to accumulate more digital assets at discounted prices. In their new weekly report, digital asset manager CoinShares says that Bitcoin (BTC) saw the largest inflows of institutional capital of any crypto on the market despite facing negative sentiment and pressure from China.
DEGETHAL: AN INNOVATIVE PROJECT IN THE CRYPTO MARKET
Cryptocurrency transactions are nothing new today. There are more than 5,000 different cryptocurrencies in the market, and new coins are emerging in the market regularly. Individuals are now moving to cryptocurrencies for transactions or as an investment option because of the enormous campaign and broad acceptance of cryptocurrencies across geographies. Many cryptocurrency exchanges offering different coins have come into existence today. Read more
Google, the most popular Bitcoin trend indicator, turns 23
Since the introduction of Bitcoin, Google has become an excellent popularity indicator for cryptocurrencies. Google, the leading indicator used to track the popularity of Bitcoin (BTC) and other cryptocurrencies, celebrated its 23rd anniversary on Monday.
BONDEX IS CREATING A BLOCKCHAIN-DRIVEN NEXT-GEN TALENT MANAGEMENT AND ACQUISITION PLATFORM
A lot is happening with the way human resources are organised and channeled today. The COVID-19 pandemic has shown how the majority of the tasks can be performed without having to physically visit a modern workplace. There has also been a significant increase in the number of professionals looking for only flexible working opportunities. Read more
RADIOLOGEX: WILL IT BE THE BIGGEST STO IN 2021?
Blockchain applications are gaining popularity in the healthcare industry and this could be one of the most important disruptions in the medical field. Exchanges are also adopting blockchain technology, and while many investors are familiar with ICOs, STOs are coming up strong. Security Token Offerings (STO) are designed to serve as an investment product. An STO provides the potential to deliver significant efficiencies as well as cost savings. The process involves the selling of digital tokens to the public from cryptocurrency exchanges, but to distinguish them from ICOs, security tokens represent actual securities tied to a company. Read more
South Korea’s Largest Crypto Exchange Operator Raises $85 Million at an $8.65 Billion Valuation
JEUpbit accounts for more than 70% of the domestic market share and is currently seeing the most interest in Serum, Ethereum, XRP, Bitcoin, Cosmos, Tezos, Cardano, and Polkadot. As per the SBI official statement, the acquisition will contribute to the company’s mission of offering better crypto- related services. Dunamu, the operator of South Korea’s leading cryptocurrency exchange Upbit has become a “decacorn” by getting a valuation of almost $10 billion, now joining the ranks of e-commerce giant Coupang and leisure reservation app Yanolja.
Alibaba to Stop Selling Crypto Mining Machines
E-commerce giant Alibaba announced Monday it will stop selling specialized mining equipment on its platforms on Oct. 8. Alibaba said its decision was in response to the latest People’s Bank of China policy circular on crypto trading as well as a 2017 circular. The notice, signed by some of China’s top financial regulators and published on Friday, banned all crypto tradingrelated activities in the country.
Second-largest Ethereum mining pool to suspend all operations
L aunched in China in 2018, SparkPool controls over 22% of Ether’s hash rate as of Monday, second only to Ethermine. Sparkpool, the second-largest Ethereum mining pool in the world, is suspending operations due to the ongoing Chinese crackdown on crypto. The mining pool officially announced that it has suspended access to new users in mainland China on Monday in response to Chinese authorities initiating new measures to combat crypto adoption in the country. Following the initial restrictions made last Friday, Sparkpool will continue shutting down services, and plans to suspend existing mining pool users both in China and abroad on Thursday.
Billionaire Mike Novogratz Says Bitcoin Market Is 'in Good Shape' — China Has 'Less and Less' Influence Over Crypto
The billionaire investor and CEO of Galaxy Digital, Mike Novogratz, says the bitcoin market is in good shape, noting that he sees “so much capital coming into the space.” He also commented on the dwindling influence China has over the crypto market. Billionaire Investor Says the Market Is ‘in Good Shape’ — ‘I’m Not Nervous’ Galaxy Digital CEO Mike Novogratz commented on the crypto market and the latest news of China’s crackdown on cryptocurrencies Friday.
Binance and Huobi Block Users From Creating New Accounts in China As Crypto Ban Looms
Digital asset exchange operators Binance and Huobi are reportedly blocking new user registration in response to China’s latest measures against the crypto space. Bloomberg reports that Binance and Huobi are still accepting new signups from Hong Kong, but are no longer allowing new registration for traders with mainland China-based mobile phone numbers.
2.1 Million Salvadorans Actively Using Chivo Wallet, El Salvador’s President Claims
N ayib Bukele, El Salvador president, has claimed that 2.1 million citizens are using the new governmentbacked Chivo cryptocurrency wallet. In a tweet, he implied the apparent success of Bitcoin in the country. El Salvador recently adopted bitcoin as a legal tender on September 7, 2021, being the first country to do so. On Saturday afternoon, president Nayib Bukele shared this update with his 2.9 million Twitter followers. He claimed that Chivo “now has more users than any bank in El Salvador” after just three weeks in operation. He also said that despite Chivo not being a bank, it already has more users than any bank in El Salvador and that it is only a matter of time before the wallet’s adoption surpasses all banks in El Salvador combined.