Lorenzo Stroe
Independent Analyst
Here is what you need to know on October 2
BTC/USD is trading at $10,570 after a notable 2% dip today after the negative news from BitMEX.
ETH/USD had similar price action but remains stronger than the rest at $350. Bulls are trying to defend the 12-EMA on the daily chart to survive.
XRP/USD lost several short-term support levels and its trading at $0.236.
Chart of the day: BTC/USD 15-minutes chart
-637371821549291932.png)
Market
The U.S. Commodity Futures Trading Commission (CFTC) has just accused BitMEX of allegedly facilitating unregistered trading to customers. Arthur Hayes, Ben Delo, and Samuel Reed were all charged. Samuel Reed was, in fact, arrested this morning in Massachussets.
The U.S. Attorney for the District of New York has indicted all three individuals along with Gregory Dwyer on federal charges of 'violating the Ban Secrecy Act and conspiracy to violate the Bank Secrecy Act'.
Although this is not the first rodeo BitMEX has been through, it is by far the most serious one. Many investors quickly jumped into short positions expecting a wide sell-off and for the most part, it happened already with the market losing close to $14 billion in market capitalization.
Industry
Definer, which already conducted a successful token sale in September, it’s launching another smaller sale for the community. Definer is one of the most popular upcoming cryptocurrency projects and will conduct its new sale through Coinlist, a specialized token offering platform.
We wanted to give back to our community. Through this sale, everyone can have a chance to participate—not just the big investors, said Jason Wu, DeFiner CEO and Co-founder. Our community has been so helpful and patient. They are the foundation of our ecosystem. So they deserve access to its founding.
Diginex Limited, a cryptocurrency exchange that raised $50 million will be listed on Nasdaq starting today using the ticker ‘EQOS’.
Richard Byworth, CEO of Diginex, commented:
This is a watershed moment for both Diginex and the cryptocurrency industry with the listing of the first-ever company with a crypto exchange on Nasdaq. This also presents the first opportunity for anyone trading in the US capital markets to buy directly into the equity of a digital asset ecosystem and opens the door for financial institutions to participate in the enormous opportunity that digital assets present.
Quote of the day
PayPal had these goals of creating a new currency. We failed at that, and we just created a new payment system. I think Bitcoin has succeeded on the level of a new currency, but the payment system is somewhat lacking. It’s very hard to use, and that’s the big challenge on the Bitcoin side.
– Peter Thiel
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Ripple wipes out weekly gains, experts comment on role of Ripple stablecoin
Ripple declined to $0.52 on Thursday, erasing all gains registered earlier this week. Ripple SVP Eric van Miltenburg’s comments on the firm’s stablecoin, and how it is expected to benefit the XRP Ledger and native token XRP have raised concerns among crypto experts.
Hedera HBAR slips nearly 10% after air is cleared on mistaken link with giant BlackRock
HBAR price is down nearly 10% on Thursday, partly erasing gains inspired by the misinterpreted link with BlackRock. Despite the recent correction, Hedera’s price is up 44% in the past seven days.
The reason behind Bonk’s 105% rise and if you should buy now Premium
Bonk price has shot up 105% in the past five weeks. A retracement into $0.0000216 or the $0.0000152 to $0.0000186 imbalance would be a good buying opportunity. Patient investors can expect double-digit gains from BONK that could extend up to 70%.
Injective price weakness persists despite over 5.9 million INJ tokens burned
Injective price is trading with a bearish bias, stuck in the lower section of the market range. The bearish outlook abounds despite the network's deflationary efforts to pump the price. Coupled with broader market gloom, INJ token’s doomed days may not be over yet.
Bitcoin: BTC post-halving rally could be partially priced in Premium
Bitcoin (BTC) price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?