Day: April 13, 2021

Ethereum Consolidates Gains, Here’s What Could Spark A Fresh Rally

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Ethereum is struggling to clear the $2,200 resistance zone against the US Dollar. ETH price is now consolidating and it is likely to start a strong rally above $2,200. Ethereum is trading in a positive zone above the $2,100 and $2,080 support levels. The price is now trading well above $2,100 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $2,125 on the hourly chart of ETH/USD (data feed via Kraken). The pair remains well bid and it is likely to…

40K investors rush to buy RLY despite price pump

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Social token platform Rally has completed its first “liquid token sale” on crypto asset issuance platform CoinList, with 40,000 investors snapping up RLY tokens for $0.60 each between April 1 and April 4. The sale saw tokens distributed to investors at a set price despite RLY trading on exchanges since October, 2020. Token pricing was determined by a 20-day trailing average from March 11, 2021 to March 30, 2021 minus a 30% markdown to compensate for the RLY being locked up for 12-month a linear release. However, investors had the opportunity…

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

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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…

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

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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…

NYSE celebrates historic ‘first trades’ with NFT series

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The New York Stock Exchange, or NYSE, has jumped on the NFT bandwagon by minting nonfungible tokens celebrating the first trade made in the shares of prominent U.S. companies. In an April 13th announcement, NYSE’s president, Stacey Cunningham, described NFTs as a “new, fun way to mark the moment” of a company’s first trade on the NYSE. The first six NYSE NFTs commemorating the first trades for Spotify, Snowflake, Unity, DoorDash, Roblox, and Coupang, with Cunningham confirming “there will be many more NYSE NFTs to come.” The first NFTs are already…

The Rate Bitcoin Must Climb To Reach $100K By July

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Bitcoin is a numbers game through and through. There are only 21 million BTC. The code and its consensus algorithm are both made up of complex math. The total coins are slashed in half every four years, and so on and so fourth. Most important of all, here’s the growth rate Bitcoin price must hit steadily to reach $100K per BTC by July 2021 according to one crypto capital manager – as well as the one thing that could get in the way. Bitcoin Price Growth Rate Should Take Crypto…

TIME magazine to hold BTC on balance sheet

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Institutional fund manager Grayscale has partnered with acclaimed New York-based magazine TIME to produce an educational video series on the subject of crypto assets. The partnership was announced on April by Grayscale’s CEO, Michael Sonnenshein, with Sonnenshein revealing that TIME and its president, Keith Grossman, will receive payment in Bitcoin. Further, TIME does not intend to convert the Bitcoin it receives through the deal into fiat, and will hold the crypto asset on its balance sheet. No further details of the partnership have been revealed so far. Thrilled @Grayscale is…