Lorenzo Stroe
Independent Analyst
Here is what you need to know on Friday 21 August
BTC/USD is trading at $11,852 and it seems that Bitcoin bulls are back in charge after a failed bearish reversal.
ETH/USD has also bounced from its 12-EMA on the daily chart and defended $400. Bulls are now looking for a new 2020-high above $450.
XRP/USD is still below its 12-EMA on the daily chart and $0.30. Bulls are hoping to at least defend the 26-EMA and see a bounce from there.
OMG is up again with a $1.8 billion in trading volume and a 63% price boost in the past 24 hours. Yearn.Finance has hit $18,000 for the first time ever and it’s still currently trading at $14,722 after a massive bull rally.
Chart of the day: ETH/USD daily chart
-637335508221681517.png)
Market
BlockFi, one of the biggest American crypto lending startups has just finished another massive funding round raising $50 million in a Series C round. This one was led by Anthony Pomliano’s firm, Morgan Creek Digital. It seems that Pompliano will be joining the board of directors of BlockFi but he wasn’t the only one participating.
The Winklevoss twins were also featured in this round. BlockFi has already raised $18 million in its Series A round and $30 million in Series B.
Industry
The state of Hawaii has just authorized 12 different cryptocurrency companies to start operating without the need for a money transmission license.
The participating company will be given 2 years to engage in digital currency transactions. DFI has issued a ‘no action message’ – stating that ‘no action’ will be taken against companies conducting what DFI would consider unlicensed money transmission activity if they have been successfully admitted into the program.
The UK’s FCA has approved Gemini as a registered crypto exchange. The exchange founded by the Winklevoss twins has received the green light from the FCA even though it was already operational in the country.
Quote of the day
Cryptography is the essential building block of independence for organizations on the Internet, just like armies are the essential building blocks of states because otherwise one state just takes over another.
– Julian Assange
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
Why crypto may see a recovery right before or shortly after Bitcoin halving
Cryptocurrency market is bleeding, with Bitcoin price leading altcoins south in a broader market crash. The elevated risk levels have bulls sitting on their hands, but analysts from Santiment say this bleed may only be cauterized right before or shortly after the halving.
Manta Network price braces for volatility as $44 million worth of MANTA is due to flood markets
Manta Network (MANTA) price was not spared from the broader market crash instigated by a weakness in the Bitcoin (BTC) market. While analysts call a bottoming out in the BTC price, the Web3 modular ecosystem token could suffer further impact.
Bitcoin price uptrend to continue post-halving, Bernstein report says as traders remain in disarray
Bitcoin is dropping amid elevated risk levels in the market. It comes as traders count hours to the much-anticipated halving event. Amid the market lull, experts say we may not see a rally until after the halving.
OMNI post nearly 50% loss after airdrop and exchange listing
Omni network (OMNI) lost nearly 50% of its value on Wednesday after investors dumped the token following its listing on top crypto exchanges. A potential reason for the crash may be due to the wider crypto market slump.
Bitcoin: BTC’s rangebound movement leaves traders confused
Bitcoin (BTC) price has been hovering around the $70,000 psychological level for a few weeks, resulting in a rangebound movement. This development could lead to a massive liquidation on either side before a directional move is established.