Coinbase Sued for Receiving Commissions on Illegal XRP Sale

Coinbase Sued for Receiving Commissions on Illegal XRP Sale

Coinbase Sued for Receiving Commissions on Illegal XRP Sale

While Ripple is dealing with allegations from the U.S. Securities and Exchange Commission (SEC) concerning its XRP token, major U.S. cryptocurrency exchange Coinbase seems to be getting its own share of legal saga, as the company faces a class-action lawsuit for receiving commissions gotten from the sale of XRP tokens.

Coinbase Slammed With Class Action Lawsuit

According to a court document, Thomas C. Sandoval, the plaintiff, has filed a class-action lawsuit against the San-Francisco based crypto giant. The plaintiff alleged that Coinbase, the defendant, sold XRP as unregistered security and received commissions.

In the lawsuit filed in the Northern District Court of California, Sandoval, a Missouri resident, stated that he purchased XRP twice on Coinbase before the SEC lawsuit and paid the exchange platform a commission.

However, the Plaintiff alleged that Coinbase knew that XRP was a security but still went ahead to sell the token to its customers. Furthermore, the lawsuit claims that the crypto exchange acted in violation of California’s Unfair Competition Law (UCL), stating:

“Defendant’s actions were also “unfair” as that term used in the UCL, in that by selling XRP securities Defendant gained an unwarranted competitive advantage over digital asset exchanges that only sold commodities. As a result of Defendant’s conduct, Coinbase received commissions from Plaintiff and all other Class members.”

Furthermore, the Plaintiff is seeking compensatory damages, attorneys’ fees, and any other relief as decided by the court.

The lawsuit comes on the heels of a recent announcement by Coinbase to pause XRP trading on its platform. As reported by CryptoPotato, the crypto exchange giant revealed that it would halt trading of the token in January 2021. Meanwhile, Coinbase filed with the SEC to go public with an initial public offering (IPO). The IPO is reportedly valued at a whopping $28 billion.

Ripple Caught in the Eye of a Growing Legal Storm

With the latest development, other U.S. crypto exchanges that listed XRP could become subject to lawsuits, especially if the courts side with the SEC against Ripple.

Since the SEC lawsuit claiming that Ripple conducted a $1.3 billion unregistered securities offering, many crypto exchanges have either delisted or halted trading of XRP on their platforms. CryptoPotato reported that the U.S. branch of major cryptocurrency exchange Binance was the latest to announce that it would delist XRP and also suspend XRP trading and deposits on January 13, 2021.

However, Ripple is ready to challenge the SEC’s allegations, stating in a release that the lawsuit has caused harm to XRP holders. Meanwhile, the courts have set an initial pretrial conference via telephone to hold in February 2021.

Title: Coinbase Sued for Receiving Commissions on Illegal XRP Sale
Sourced From: cryptopotato.com/coinbase-sued-for-receiving-commissions-on-illegal-xrp-sale/
Published Date: Thu, 31 Dec 2020 09:31:08 +0000

Did you miss our previous article…
https://newsarrivals.com/last-market-watch-of-2020-bitcoin-price-eyes-30k-polkadot-dot-breaks-ath/

Coinbase Sued for Receiving Commissions on Illegal XRP Sale

Coinbase Sued for Receiving Commissions on Illegal XRP Sale was originally published here https://newsarrivals.wordpress.com/2021/01/01/coinbase-sued-for-receiving-commissions-on-illegal-xrp-sale/

Last Market Watch of 2020: Bitcoin Price Eyes $30K, Polkadot (DOT) Breaks ATH

Last Market Watch of 2020: Bitcoin Price Eyes $30K, Polkadot (DOT) Breaks ATH

Last Market Watch of 2020: Bitcoin Price Eyes $30K, Polkadot (DOT) Breaks ATH

Despite retracing with over $1,000 after the latest all-time high, BTC has surged back up and reclaimed the $29,000 level. Some altcoins have expanded in value – Polkadot’s DOT has marked a new all-time high.

Bitcoin’s Latest ATH Above $29K

After a few days of relative stagnation around the $28,000 level, the primary cryptocurrency returned to its Q4 2020 bull run.

CryptoPotato reported yesterday that BTC charted two consecutive all-time highs in a day. The asset firstly reached $28,570 before initiating another impressive leg up – this time breaking above $29,000.

Ultimately, bitcoin’s latest ATH came at $29,300. Despite briefly retracing to 28,200, the cryptocurrency has recovered most losses and currently sits very close to that ATH again.

Nevertheless, if BTC retraces and heads south for a correction, the technical indicators suggest several significant support levels that could contain the possible drop. They are situated at $28,400, $27,850, $27,300, $26,750, and $26,300.

BTCUSD. Source: TradingView

Ethereum Marks YTD High; Ripple Bounces Off

Following BTC’s gains, Ethereum has been on quite the roll in the past several days. The second-largest digital asset struggled beneath $600 before Christmas but has exploded to a new yearly high just a week later at $760. Despite retracing slightly to $750, ETH is still 2% up in a day.

Bitcoin Cash, Cardano, Litecoin, Chainlink, and Binance Coin have remained practically at the same price spot as yesterday with minor moves. However, Polkadot has doubled-down on its recent impressive price performance with another 10% surge to above $8. This is DOT’s newest YTD high.

Interestingly, Ripple has also added value on a 24-hour scale. After plummeting for weeks following the SEC charges and multiple exchanges delisting the token, XRP has increased by 8% since yesterday’s low.

Cryptocurrency Market Overview. Source: Quantify Crypto

Further gains come from Blockstack (7%), HedgeTrade (6%), Decred (6%), OKB (5%), and Gnosis (5%). Nevertheless, BTC’s dominance over the market is still above 70% as most alternative coins can’t keep up with bitcoin’s gains.

The total market capitalization has surged to $765 billion. Thus, it has neared the all-time high marked during the parabolic price increase in 2017/2018 at above $800 billion.

Title: Last Market Watch of 2020: Bitcoin Price Eyes $30K, Polkadot (DOT) Breaks ATH
Sourced From: cryptopotato.com/last-market-watch-of-2020-bitcoin-price-eyes-30k-polkadot-dot-breaks-ath/
Published Date: Thu, 31 Dec 2020 09:31:02 +0000

Last Market Watch of 2020: Bitcoin Price Eyes $30K, Polkadot (DOT) Breaks ATH

Last Market Watch of 2020: Bitcoin Price Eyes $30K, Polkadot (DOT) Breaks ATH was originally published here https://newsarrivals.wordpress.com/2021/01/01/last-market-watch-of-2020-bitcoin-price-eyes-30k-polkadot-dot-breaks-ath/

Tyler Winklevoss Eyes ETH: Buying Ethereum Now Is Like Buying Bitcoin At 50% Discount

Tyler Winklevoss Eyes ETH: Buying Ethereum Now Is Like Buying Bitcoin At 50% Discount

Tyler Winklevoss Eyes ETH: Buying Ethereum Now Is Like Buying Bitcoin At 50% Discount

Tyler Winklevoss, the co-founder, and CEO of the crypto exchange Gemini and one of the earliest BTC adopters believes that Ethereum’s price is a “steal” now. He noted that the second-largest cryptocurrency is still about 50% away from its all-time high.

Winklevoss: Buying ETH Now Is A Steal

Ethereum is among the best performers through this challenging year. Whether it was the DeFi craze or the long-anticipated ETH 2.0 launch, the asset has exploded by nearly 500% from $130 at the start of 2020 to the recently charted YTD high of $760.

Despite surging significantly more than BTC percentage-wise, ETH was unable to mimic bitcoin in registering a new all-time high. In fact, Ether is still a long way from its highest level, marked in January 2018 of $1,450 (according to CoinGecko data).

ETH’s price, being roughly 50% away from that level, has caught the attention of the early Facebook investor – Tyler Winklevoss. He classified the option to buy ETH at this level as a “steal” and compared it to purchasing BTC at $14,000 – slightly over 50% of bitcoin’s latest all-time high.

The price of ether $ETH right now is $735. This is 51% off of its all-time-high, which is like buying #Bitcoin at 14k. What a steal.

— Tyler Winklevoss (@tyler) December 31, 2020

Ethereum Whales Accumulate

And while Winklevoss might be expecting an additional price surge for ETH, it seems that Ethereum whales have been preparing for such a scenario with massive purchases.

The analytics company Santiment breached data that the number of ETH address holding at least 10,000 tokens has increased by 39 wallets in the past two months alone.

ETH Retail/Whale Hodlers. Source: Santiment

At the same time, Santiment said that retail investors had done the opposite. Addresses containing between 100 and 10,000 ETH tokens have been gradually decreasing since mid-November 2020. Furthermore, the number of relatively small wallets holding between one and 100 Ethers has plummeted before Christmas, as the graph above demonstrates (the purple line).

Google Trends, which is typically a good indicator of retail investors’ behavior, suggests that the term “buy Ethereum” has reached a yearly high this week following ETH’s YTD price record. Nevertheless, the interest from such investors is still far away from the 2017/2018 craze.

“Buy Ethereum” Google Searches 5-Year Back. Source: Google Trends

Featured Image Courtesy of Yahoo

Title: Tyler Winklevoss Eyes ETH: Buying Ethereum Now Is Like Buying Bitcoin At 50% Discount
Sourced From: cryptopotato.com/tyler-winklevoss-eyes-eth-buying-ethereum-now-is-like-buying-bitcoin-at-50-discount/
Published Date: Thu, 31 Dec 2020 09:30:49 +0000

Tyler Winklevoss Eyes ETH: Buying Ethereum Now Is Like Buying Bitcoin At 50% Discount

Tyler Winklevoss Eyes ETH: Buying Ethereum Now Is Like Buying Bitcoin At 50% Discount was originally published here https://newsarrivals.wordpress.com/2021/01/01/tyler-winklevoss-eyes-eth-buying-ethereum-now-is-like-buying-bitcoin-at-50-discount/

Better Than This Year: Bitcoin Price to Hit $120,000 in 2021, Tom Lee Predicts

Better Than This Year: Bitcoin Price to Hit $120,000 in 2021, Tom Lee Predicts

Better Than This Year: Bitcoin Price to Hit $120,000 in 2021, Tom Lee Predicts

As BTC looks to end 2020 with massive gains of about 300%, Fundstrat’s Tom Lee believes that next year will be even more bullish for the cryptocurrency. Lee predicted that bitcoin could skyrocket by more than 300% from this point in 2021, which will take the asset into a six-digit price territory.

Tom Lee Sees Massive Gains for BTC in 2021

Bitcoin entered the new century with a price level of about $7,200. Despite highly volatile periods, including a vigorous dip beneath $4,000 in the mid-March liquidity crisis, 2020 will remain in BTC’s history as one of the most bullish years to date.

More specifically, bitcoin skyrocketed by roughly 300% to a new all-time high price of $29,300. Tom Lee, a Managing Partner at Fundstrat Global Advisors, predicted in January 2020 that BTC will reach $27,000 in the next few months. Although his timeframe was a bit off, his price prediction became a reality and even exceeded his expectations.

In a recent CNBC interview, Lee ironically said that he should have provided a higher BTC price number. Nevertheless, he envisioned even more bullish developments for the cryptocurrency next year:

“I think that 2021 will be a lot like 2017, which means that bitcoin will do even better in 2021 than it did in 2020. So, something above 300%.”

Tom Lee. Source: CNBC

With BTC sitting around $29,000 at of writing these lines, an additional 300% increase from this point would place the asset at nearly $120,000. Should that indeed occur, bitcoin’s market capitalization would surge to almost $2.3 billion. This means that the primary cryptocurrency would equal the world’s most valuable company’s market cap – Apple.

Weakening Dollar Pushes People To Bitcoin

Lee also touched upon the topic of the depreciating dollar. The world’s reserve currency has lost about 10% of its value against the Euro and the British Pound in the past few months.

As BTC is primarily denominated in the greenback, it means that the dollar’s decreasing value would ultimately benefit the cryptocurrency, Lee explained:

“The dollar’s weakness will make people think – how do you sort of keep a unit of sound money? A lot of people thought gold would be that store. I think it still has a reasonable basis for someone to be long on gold. But, I think for younger folk, and those who are from the digital generation, bitcoin is that digital asset that they want to hold as a store of value.”

The narrative that BTC is younger generations’ gold has been breached by several other individuals and institutions in the past. Those include the author of Rich Dad, Poor Dad, Robert Kiyosaki, and the giant US multinational banking organization – JPMorgan Chase & Co.

Featured Image Courtesy of Bloomberg

Title: Better Than This Year: Bitcoin Price to Hit $120,000 in 2021, Tom Lee Predicts
Sourced From: cryptopotato.com/better-than-this-year-bitcoin-price-to-hit-120000-in-2021-tom-lee-predicts/
Published Date: Thu, 31 Dec 2020 09:30:45 +0000

Better Than This Year: Bitcoin Price to Hit $120,000 in 2021, Tom Lee Predicts

Better Than This Year: Bitcoin Price to Hit $120,000 in 2021, Tom Lee Predicts was originally published here https://newsarrivals.wordpress.com/2021/01/01/better-than-this-year-bitcoin-price-to-hit-120000-in-2021-tom-lee-predicts/

Bitcoin mining & staying green

Bitcoin mining & staying green

Bitcoin mining & staying green

Given that Bitcoin is not tied to a bank or government, it has been able to increase massively in value. Just this month, bitcoin surpassed $20,000 solidifying a new all-time high.

Bitcoin has a cap of 21 million in circulation, so after that’s all been done and dusted, there’s no more left.

Following bitcoin’s rise to the mainstream in 2017 to highs of, the question was raised on whether the leading crypto was having an impact on the environment. 

Simply, the answer is yes.

Since then, bitcoin has been very volatile but despite this, the growth has been phenomenal, to say the least. But the environmental factor is very much still an issue. A large amount of energy is being used in order to power bitcoin and the miners that mine it.

Given that bitcoin it’s not tethered to a bank or government and is essentially just a line of computer code, it can be signed digitally from one owner to another. However, when it comes to the environment, the worry comes from the fact that bitcoin can exist without computers. As a result, electricity is being used massively in order to keep bitcoin going. With the value of bitcoin increasing too, this computer use will continue.

Not only is bitcoin mining an expensive hobby but it has a big impact on the environment and the world around us. Yes, the rewards can be lucrative but it will be interesting to see how bitcoin mining goes in the future, and if bitcoin can adapt to a greener world.

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Title: Bitcoin mining & staying green
Sourced From: cryptodaily.co.uk/2020/12/bitcoin-mining-and-staying-green
Published Date: Thu, 31 Dec 2020 09:30:12 +0000

Bitcoin mining & staying green

Bitcoin mining & staying green was originally published here https://newsarrivals.wordpress.com/2021/01/01/bitcoin-mining-staying-green/

Will 2021 see blockchain grow?

Will 2021 see blockchain grow?

Will 2021 see blockchain grow?

It’s been a very interesting year, to say the least. The coronavirus pandemic has changed our day-to-day lives more than we could ever imagine and the world of crypto has hit new highs with bitcoin surpassing $20,000 earlier this month.

We hope you had a good Christmas and as we get ready to enter 2021, I think it’s safe to say many of us will be waving 2020 goodbye with a happy face.

The technology behind bitcoin, blockchain has also had an interesting year. Many big companies are looking at adopting the technology thinking it will help advance their business methods and they wouldn’t be wrong.

If you’re new to the industry, blockchain may be a word that is new to you, you are familiar with it but still have no idea what it is.

Essentially, it powers everything. Bitcoin, ethereum, and so on. Without it, you wouldn’t have cryptocurrencies.

In 2021, or we see Blockchain grow even further?

More than likely, the answer is yes. With coronavirus still impacting many countries all over the world, touching technology could seriously help with speeding The recovery of the economy. Yes, a vaccine has already been deployed in countries like the United Kingdom with a 95% success rate but the economy is going to need something a lot more to help recover.

On top of this, institutional investment has been massive this year. Many big companies have been getting on the bandwagon and are more likely going to be staying for the foreseeable.

For blockchain though, there is a hope that over time, complete industries will be using the same technology to help firms connect.

For more news on this and other crypto updates, keep it with CryptoDaily!

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Title: Will 2021 see blockchain grow?
Sourced From: cryptodaily.co.uk/2020/12/will-2021-see-blockchain-and-grow
Published Date: Thu, 31 Dec 2020 09:30:07 +0000

Did you miss our previous article…
https://newsarrivals.com/binance-ceo-says-tesla-will-buy-crypto-in-wake-of-bitcoins-rise/

Will 2021 see blockchain grow?

Will 2021 see blockchain grow? was originally published here https://newsarrivals.wordpress.com/2021/01/01/will-2021-see-blockchain-grow/

Binance CEO says “Tesla will buy Crypto” in wake of Bitcoin’s Rise

Binance CEO says “Tesla will buy Crypto” in wake of Bitcoin’s Rise

Binance CEO says “Tesla will buy Crypto” in wake of Bitcoin’s Rise

Quick take

1 minute read

Following bitcoin’s rise, Tesla will buy crypto according to CZ.It is just a matter of time…

Tesla and Elon musk will buy crypto, that’s what was speculated by Binance CEO Changpeng Zhao. In a tweet posted on the 20th of December, he said that this was one of the few predictions that he’s happy to put his name to. 

Telsa / @elonmusk will buy crypto. Just a matter of time. This is one of the few prediction I am happy to put my name on.

The real question is: do you want to be before or after them?

— CZ Binance (@cz_binance) December 20, 2020

This prediction comes after Elon Musk tweeted, although seemingly in jest, that his safeword was BTC. It has been a number of months since he last spoke about anything on Twitter in regards to crypto. It does seem like the Tesla CEO is considering delving into the crypto world a little more, with him currently claiming that he possesses no Bitcoin other than 0.25 that was given to him by a friend. 

He has been known to make comments about Dogecoin, stating it was his ‘Favourite cryptocurrency’ in a tweet back in April 2019. This led to him jokingly being named the ‘CEO of Dogecoin’ a title which he held for a few hours. He posted another tweet claiming that BTC was “BS”, which quite incredibly, led to a sharp 25% rise in the price of Dogecoin. 

Despite all this, Musk’s company Tesla is one of the few big companies in the USA that have yet to indicate any kind of interest in the world of crypto. This comes as a surprise after a number of large companies are now considering delving into the crypto-space. 

Paypal, which was co-founded by Elon Musk, has recently begun accepting the use of digital currency on its platform after previously being highly against the adoption of crypto. According to reports, 25% of PayPal accounts have been used for cryptocurrency transactions since the beginning of the year. 

Only time will tell whether Elon will finally take the plunge into crypto, however, with his number of past cryptic comments on Twitter, it could be sooner than we all may think. 

For more news on this and other crypto updates, keep it with CryptoDaily

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Title: Binance CEO says “Tesla will buy Crypto” in wake of Bitcoin’s Rise
Sourced From: cryptodaily.co.uk/2020/12/binance-ceo-tesla-buy-crypto-in-wake-of-bitcoin-rise
Published Date: Wed, 30 Dec 2020 12:10:53 +0000

Binance CEO says “Tesla will buy Crypto” in wake of Bitcoin’s Rise

Binance CEO says “Tesla will buy Crypto” in wake of Bitcoin’s Rise was originally published here https://newsarrivals.wordpress.com/2020/12/31/binance-ceo-says-tesla-will-buy-crypto-in-wake-of-bitcoins-rise/

The wealthy look to Bitcoin – What’s next to come?

The wealthy look to Bitcoin – What’s next to come?

The wealthy look to Bitcoin – What’s next to come?

Quick take

1 minute read

With bitcoin rising, what is to come next?Could we see a new all-time high in 2021?

This year has been one hell of a journey in every aspect, and that doesn’t exclude Bitcoin by any means. The beginning of the year saw a somewhat unsettled start for Bitcoin however after the progress that has been made over the last few weeks, BTC seems to be putting its past behind. The Digital Currency’s fourth quarter saw it rise to a new all-time high within 49 days, rising more than 270% to over $24,000. Bitcoin rose above $20k for the first time in its lifespan after cutting shy back in late 2017.

After seeing the exponential growth of the currency over recent months, Bitcoin seems to have attracted a number of new interested parties. It appears that some of wall street’s elite as well as some institutional investors are being tempted into investing in BTC and a number of other cryptocurrencies. Bitcoin finally seems to have caught on in the financial world, becoming a go-to for the wealthy after the market showed a rise of large purchases from major financial suitors.

Investors who bought a minimum of 1k Bitcoins, worth around $23 Million, had accounts that were no older than nine months old. The past 3 months alone has seen $11.5 billion worth of BTC purchased by these big investors, and this is what many have speculated to be the cause for the sharp increase in price. Bill Miller, Paul Tudor Jones, and Stanley Druckenmiller are just a few of the big names who have bought big in recent months.

Some other notable mentions are Rick Reider, the Head of the Fundamental Fixed Income business, who came out and said that BTC is going to stick around for a long time and holds the potential for many opportunities. A Mexican Media billionaire named Ricardo Salinas Pilego also announced that he has recently invested 10% of his liquid assets into bitcoin. 

After so many years, Bitcoin seems to have finally gained respect and acceptance from top wall street investors as well as big companies like Visa and Paypal. The current run is expected to continue for the coming months and has the potential to see even more multimillion investors get in on the act. 

For more news on this and other crypto updates, keep it with CryptoDaily

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Title: The wealthy look to Bitcoin – What’s next to come?
Sourced From: cryptodaily.co.uk/2020/12/the-wealthy-look-to-Bitcoin-whats-next
Published Date: Wed, 30 Dec 2020 12:10:51 +0000

The wealthy look to Bitcoin – What’s next to come?

The wealthy look to Bitcoin – What’s next to come? was originally published here https://newsarrivals.wordpress.com/2020/12/31/the-wealthy-look-to-bitcoin-whats-next-to-come/

Bitcoin Spikes $2700 To New ATH Surpassing $28,500: BTC Dominance Above 70%

Bitcoin Spikes $2700 To New ATH Surpassing $28,500: BTC Dominance Above 70%

Bitcoin Spikes $2700 To New ATH Surpassing $28,500: BTC Dominance Above 70%

After a few days of sideways trading, BTC has returned to its Q4 2020 bull run and painted a fresh all-time high above $28,500. The cryptocurrency gained more than $2,700 from yesterday’s lows. Most alternative coins have failed to follow and bitcoin’s dominance over the market has returned to over 70%.

nother ATH For Bitcoin At $28,570

Following the previous all-time high marked during the Christmas Holidays at $28,300, BTC started retracing and even dipped beneath $26,000 on a few occasions.

While the community was wondering and speculating if the late 2020 rally has been paused, the primary cryptocurrency decided to act again in the past 24 hours.

BTC firstly overcame the $27,000 mark before doing the same with the $28,000 price tag. Another leg up resulted in a pump to its latest all-time high of $28,570 (on Bitstamp).

Despite retracing slightly since then, bitcoin is still very close to $28,500 as of writing these lines.

BTCUSD. Source: TradingView

The analytics company Santiment suggested that such a development could be possible because of the rising number of daily active addresses. The firm, which has described this metric as crucial for BTC’s price, outlined that the active addresses have continued hovering around the weekly high, while “on-chain transaction volume has shown some encouragingly high spikes.”

Bitcoin Price / Daily Active Addresses. Source: Santiment

Trailing Altcoins Increase BTC’s Dominance

Most alternative coins have failed to mimic BTC’s gains yet, despite some minor increases. Ethereum is up by 4% to above $735. Bitcoin Cash (4%) and Litecoin (3%) have risen to $355 and $130, respectively.

Polkadot is the most impressive gainer with an 11% surge. As a result, DOT trades north of $7.

Nevertheless, Ripple continues with its adverse price developments and struggles to stay above $0.20. Chainlink has also lost some value and trades at $11.6.

Cryptocurrency Market Overview. Source: Quantify Crypto

Some lower- and mid-cap altcoins, such as Kusama (9%), Aave (6%), NEAR Protocol (6%), FTX Token (6%), and Compound (6%) have also increased on a 24-hour scale.

However, their gains were not enough for the altcoins to protect their market share. Consequently, bitcoin’s dominance has surged to 70.5% after a few days under the 70% mark.

Title: Bitcoin Spikes $2700 To New ATH Surpassing $28,500: BTC Dominance Above 70%
Sourced From: cryptopotato.com/bitcoin-spikes-2700-to-new-ath-surpassing-28500-btc-dominance-above-70/
Published Date: Wed, 30 Dec 2020 12:10:30 +0000

Bitcoin Spikes $2700 To New ATH Surpassing $28,500: BTC Dominance Above 70%

Bitcoin Spikes $2700 To New ATH Surpassing $28,500: BTC Dominance Above 70% was originally published here https://newsarrivals.wordpress.com/2020/12/31/bitcoin-spikes-2700-to-new-ath-surpassing-28500-btc-dominance-above-70/

Polkadot (DOT) Surges 60% Weekly as Binance Announced a $10M Support Fund

Polkadot (DOT) Surges 60% Weekly as Binance Announced a $10M Support Fund

Polkadot (DOT) Surges 60% Weekly as Binance Announced a $10M Support Fund

The price of the Polkadot token (DOT) has skyrocketed by about 60% in a week to a new yearly high of $7.7. This development coincided with positive news from Binance as the leading crypto exchange announced a $10 million fund to support projects within the Polkadot ecosystem.

Binance’s $10M Fund For Polkadot

Launched via an ICO in 2017, Polkadot’s network allows interoperability and scalability for all protocols that employ it. The project’s popularity has skyrocketed since mid-2020 after several developments, including an entry in the DeFi field.

The Malta-based digital asset exchange Binance announced last week establishing a $10 million fund to “empower innovative projects to be built around the Polkadot ecosystem.”

Binance will also provide more of its resources to projects employing the Polkadot network. Namely, those are – media distribution, knowledge sharing, financing and financial management, derivatives, and access to millions of customers.

The exchange will prioritize the review of so-called “high-quality” Polkadot projects for the Binance Launchpool and Binance Launchpad platforms.

Binance also listed the selection criteria that DeFi protocols have to meet when submitting their proposals to take advantage of the fund.

These include “relatively maturity” of project development, readiness for large-scale adoption, a strong and committed team, and the potential to benefit the growth of the broader cryptocurrency ecosystem.

Binance’s endorsement included the listing of the recently launched Reef Finance project on its platform, which is built on the Polkadot blockchain.

DOT’s Involvement And Price Surge

Apart from setting up the $10 million fund, Binance added Polkadot’s native cryptocurrency (DOT) to the Launchpad token session and Launchpool pools. The popular exchange also briefly inserted the trading pair DOT/BUSD on the home page of its applications.

It seems that the fund’s announcement had a massive positive impact on the price of DOT. The token traded at $4.85 on December 23rd (the day Binance established the fund). In the following seven days, DOT has skyrocketed by about 60% to its new yearly high value of $7.68 registered earlier today.

DOT/USD. Source: TradingView

It’s worth mentioning that Polkadot completed a DOT redenomination by a factor of 100 in August this year. This meant that for every one DOT token users held at the time, they received 100 new DOT coins.

Title: Polkadot (DOT) Surges 60% Weekly as Binance Announced a $10M Support Fund
Sourced From: cryptopotato.com/polkadot-dot-surges-60-weekly-as-binance-announced-a-10m-support-fund/
Published Date: Wed, 30 Dec 2020 12:10:26 +0000

Polkadot (DOT) Surges 60% Weekly as Binance Announced a $10M Support Fund

Polkadot (DOT) Surges 60% Weekly as Binance Announced a $10M Support Fund was originally published here https://newsarrivals.wordpress.com/2020/12/31/polkadot-dot-surges-60-weekly-as-binance-announced-a-10m-support-fund/

Ethereum Price Analysis: ETH Sideways Consolidation To End With a Wild Move?

Ethereum Price Analysis: ETH Sideways Consolidation To End With a Wild Move?

Ethereum Price Analysis: ETH Sideways Consolidation To End With a Wild Move?

ETH/USD – Ethereum Bulls Battling To Head Toward $750

Key Support Levels: $720, $700, $675.
Key Resistance Levels: $750, $762, $790.

Etheruem surged by 15.5% this week, which allowed it to break resistance at $674 (bearish .786 Fib Retracement) to reach the current $735 price.

The coin struggled to break $733 (1.414 Fib Extension) over the past 2-days and is continuing to consolidate in the past few days below $750  something that’s likely to end with a wild move. It is essential to wait for a daily candle close above $733 before confirming that it is ready to head toward $750 and beyond.

ETH/USD Daily Chart. Source: TradingView

ETH-USD Short Term Price Prediction

Looking ahead, the first level of resistance lies at $750 (bearish .886 Fib Retracement). This is followed by $762, $790, and $800. Beyond $800, additional resistance lies at $816 and $855.

Alternatively, if the sellers push lower, the first level of support lies at $720. This is followed by $700, $675, and $645 (.382 Fib).

The RSI is approaching overbought conditions and is starting to flatten out, suggesting that the bullish momentum might be ready to subside. Additionally, the Stochastic RSI is setting up a bearish crossover signal that could send the market lower.

ETH/BTC – ETH Rebound Stalls At 0.027 BTC.

Key Support Levels: 0.026 BTC, 0.0251 BTC, 0.0245 BTC.
Key Resistance Levels: 0.027 BTC, 0.0276 BTC 0.0284 BTC.

Against Bitcoin, EThereum bounced from the 0.024 BTC level earlier in the week and managed to push as high as 0.027 BTC. There, it met resistance at a bearish .382 Fib Retracement and could not break above this level.

As a result, ETH dropped slightly and is now trading at 0.0261 BTC.

ETH/BTC Daily Chart. Source: TradingView

ETH-BTC Short Term Price Prediction

Looking ahead, if the bulls can regroup, the first level of resistance lies at 0.027 BTC. This is followed by resistance at 0.0276 BTC, 0.0284 BTC (Feb 2020 High), and 0.029 BTC.

On the other side, support first lies at 0.026 BTC. This is followed by 0.0251 BTC, 0.0245 BTC (July 2020 lows), and 0.024 BTC.

The RSI has reversed from the mid-line to indicate that the bulls could not take control of the market momentum. It is heading lower to suggest that the bearish momentum is once again increasing. Again, the Stochastic RSI is also shaping up for a bearish crossover signal in the coming week.

Title: Ethereum Price Analysis: ETH Sideways Consolidation To End With a Wild Move?
Sourced From: cryptopotato.com/ethereum-price-analysis-eth-sideways-consolidation-to-end-with-a-wild-move/
Published Date: Wed, 30 Dec 2020 12:10:21 +0000

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Ethereum Price Analysis: ETH Sideways Consolidation To End With a Wild Move?

Ethereum Price Analysis: ETH Sideways Consolidation To End With a Wild Move? was originally published here https://newsarrivals.wordpress.com/2020/12/31/ethereum-price-analysis-eth-sideways-consolidation-to-end-with-a-wild-move/

De-Fi Accelerator YFDAI Democratizes Earning Potential through Partnership with ProBit Exchange

De-Fi Accelerator YFDAI Democratizes Earning Potential through Partnership with ProBit Exchange

De-Fi Accelerator YFDAI Democratizes Earning Potential through Partnership with ProBit Exchange

[PRESS RELEASE – Please Read Disclaimer]

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Trading Fee Discount: Buy PROB, pay trading fees with PROB & get as low as 0.03% trading feeStake Mining: Stake PROB and earn PROB at a rate of 4% per annumReferral Program: Earn 10-30% of trading fees for referring friends to ProBitProBit Exclusive: Subscribe to 50% off Top 200 tokensAuto Hold Campaigns: Hold tokens and get 6% annualized returnsTitle: De-Fi Accelerator YFDAI Democratizes Earning Potential through Partnership with ProBit Exchange
Sourced From: cryptopotato.com/de-fi-accelerator-yfdai-democratizes-earning-potential-through-partnership-with-probit-exchange/
Published Date: Wed, 30 Dec 2020 12:10:12 +0000

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De-Fi Accelerator YFDAI Democratizes Earning Potential through Partnership with ProBit Exchange

De-Fi Accelerator YFDAI Democratizes Earning Potential through Partnership with ProBit Exchange was originally published here https://newsarrivals.wordpress.com/2020/12/31/de-fi-accelerator-yfdai-democratizes-earning-potential-through-partnership-with-probit-exchange/