Both moving averages are sloping up and the relative strength index (RSI) is near the overbought territory, indicating that bulls are in control.
And that, we regret to inform you, has led to some rather silly thinking (highly unusual in the crypto community, we know), specifically of the chart-crime variety:
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NEW YORK (AP) — A cryptocurrency company launched by partners of a major Wall Street trading firm said Tuesday that it has snagged the support of billionaire investor Steven A. Cohen, as big names from the traditional financial world continue to embrace the industry surrounding crypto.
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We reached out to Binance and Binance.US in an attempt to confirm details about reported regulatory investigations, as well as to better understand the relationship between the international and U.S-based platforms. We didn’t hear back from officials at Binance or Binance.US, though a spokesperson contacted us on behalf of Binance.US after our review published to provide additional context on the relationship between Binance and Binance.US. They operate as separate companies, the spokesperson said in an email, with Binance.US licensing software, trademarks, and wallet technology from Binance.
Headed by Canadian Changpeng Zhao, Binance offers a wide range of services globally, from crypto spot and derivatives trading to tokenised versions of stocks, as well as its own cryptocurrency, Binance Coin.
Bitcoin (BTC)Bitcoin Cash (BCH)Binance Coin (BNB)Ethereum (ETH)Litecoin (LTC)Tether (USDT)Ripple (XRP)
The price fluctuations came as conflicting reports on whether Chinese property giant Evergrande had "defaulted" on its loan surfaced.
Bhambhwani, S., S. Delikouras, and G. M. Korniotis (2019). “Do fundamentals drive cryptocurrency prices?”, Working paper .
The launch of NYCCoin follows MiamiCoin, which to date has earned more than $21.3 million since its August 2020 launch, the nonprofit said.
The cryptocurrencies described here are marked by stable adoption, robust user activity, and relatively high market capitalization (greater than $10 million, in most cases, although valuations are of course subject to change):
The worldwide crypto market capitalization is currently $2.90 trillion, decreasing 1.25% over the last day. (Shutterstock)
Brian Brooks, incoming CEO of crypto exchange Binance.US, tells CNN's Julia Chatterley that "at a certain point, finance will have migrated out of the analog age and into the digital age." He weighs in on Dogecoin, Coinbase, and regulation.
In a recent report from Kraken exchange, analysts said that the current quarter’s price action has a correlation of 0.88 with the fourth quarter of 2017.
But the hacks didn’t stop. In 2016, the DAO–a blockchain organization that was based on Ethereum–lost what was worth $50 million at the time, due to a technical error someone seized upon. This, once again, sent shockwaves through the community–but also had the unfortunate impact of normalizing these types of hacks for some people.
Crypto Chase referred to the implications of sudden erratic price movements on exchanges, these serving to liquidate traders who should have retained their positions.
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