From believing that bitcoin is likely to hit the $60,000 region this year, to Bitfinex ceasing providing services to Ontario customers. Here are some highlights from the crypto market.
JPMorgan conducted a customer survey on year-end Bitcoin price predictions. The global investment bank released its results earlier this week.
The survey was conducted from December 13 to January 7 as part of the 2022 macroeconomic outlook report. 47 JPMorgan clients took part in the survey.
About 41% of customers have predicted that Bitcoin will end the year at around $60,000. 23% expect a price of $20,000, while 20% expect Bitcoin to reach $40,000.
Additionally, 9% believe the price of BTC will reach $80,000, 5% believe it could be $100,000 or more, while 2% believe it will fall to $10,000 or less.
Poll Results | Source: JPMorgan
Nikolaos Panigirtzoglou, JPMorgan strategist and author of the study that included the survey, said Bitcoin’s fair value ranges from $35,000 to $73,000, depending on what investors think.
Bitcoin forms weakness signal
Experienced trader Tone Vays, disclosure He remains bullish on Bitcoin (BTC) despite the leading cryptocurrency’s momentum signaler showing weakness.
Vays thinks Bitcoin’s Convergence/Divergence (MACD), Relative Strength Index (RSI), and Chaikin Money Flow (CMF) indicators all look “awful.”
“MACD is very bearish. The RSI is a bit off right now, I don’t even want to talk about it, and the CMF is in bad shape.”
Despite all the bearish indicators, Vays said he remains bullish on the best digital asset by market cap as it has yet to fall below the levels he feared.
The IOTA Foundation is supported by the European Infrastructure Research and Development Commission for future EU blockchain services.
The project was recently selected as contractor for phase 2 of EU blockchain pre-commercial procurement. They will now develop improvements for future versions of the European Blockchain Services Infrastructure (EBSI).
IOTA will compete with four other contractors to explore how to make EBSI more scalable, interoperable, secure, and energy efficient.
EBSI is a collection of nodes using blockchain technology to enhance cross-border services across Europe. It was founded in 2018 after the EU Commission and member states established an organization to fund blockchain development in Europe.
News Unique network
Unique Network, the NFT chain built for Polkadot and Kusama, raised over $11.2 million from 7,900 backers in its public sale.
The token sale has been launched for the community and participants need to complete the KYC process. The sale starts on January 12th and ends on January 13th.
This is a recognition of the most discerning and savvy investors working for #NFTs To reach full potential and maturity, Unique Network’s advanced NFT tools are the foundation!
A big thank you to our community for understanding this!@Speckle https://t.co/zMln4VK5Xw
— Unique Network (@Unique_NFTchain) January 15, 2022
Unique Network is a group of experts that provides users and ecosystems with cutting-edge technology for the development and distribution of NFTs. It has a solid reputation in the blockchain space and is backed by large investors in the market.
Total supply of stablecoin USDC on the Ethereum blockchain has surpassed supply of Tether (USDT) for the first time.
According to data from Etherscan, the current total supply of USDC on the Ethereum blockchain is 39.92 billion, while the USDT side is 39.82 billion.
USDC and USDT Offering on Ethereum Blockchain | Source: The Block
The offering of USDC overtaking USDT on the Ethereum blockchain is a very important event as Ethereum continues to be a major contributor to the growth of the stablecoin market. USDC and USDT have also been launched on several other blockchains, including Solana and Algorand.
On the 1 year anniversary of the launch of the Stacks (STX) blockchain, which aims to make Bitcoin (BTC) programmable, the network has reached over 350 million monthly API requests and 40,000 downloads Hiro Wallet (development tool for stacks to create applications). Bitcoin) and 2,500 Clarity smart contracts.
Follow report by Electric Capital, a venture capital firm focused on crypto and fintech, these stats make Stacks the largest Bitcoin project.
Over 11,000 users have earned over 100 BTC per month on Stacks due to the unique Proof-of-Transfer or PoX consensus mechanism. Miners offer BTC to verify transactions, execute smart contracts and mine new blocks on the STX blockchain and get STX tokens. Meanwhile, BTC bids are sent to STX holders as rewards for performing tasks like running nodes. To date, the mechanism has raised more than $50 million in rewards and surpassed over $1 billion in total frozen assets.
In notification On Friday, Bitfinex announced it would immediately close accounts for Ontario customers with no funds on the platform.
Additionally, the exchange plans to limit access to users who do not have open positions in peer-to-peer financial markets or open margin positions.
Users with a balance or an open position at Bitfinex and any of Ontario’s approximately 15 million residents, which includes Toronto and the capital Ottawa, will no longer have access to all services as of March 1. Bitfinex also advises customers to withdraw funds from the exchange as soon as possible.
Ark Invest News
Cathie Wood’s Ark Invest should be bought 6.93 million shares of Circle-merged company SPAC for $70.6 million through the company’s ARK Fintech Innovation ETF. This purchase would represent a new ETF position, according to MarketWatch.
Ark Invest ETFs have a history of bold buys in the tech industry, having bought $80 million worth of Robinhood stock after a price decline in October 2021.
Circle is the main operator of USD Coin (USDC), currently the second largest stablecoin by market cap. Circle announced its intention to go public in July 2021 through SPAC with Concord Acquisition Corp in a merger valued at up to $4.5 billion.
Convergence Finance news
Convergence Finance (CONV) has announced support for swap pools and liquidity on the Moonbeam Network (GLMR).
Follow notification, Convergence Finance now supports swap pools and liquidity on the Moonbeam Network, the first Ethereum-compatible smart contract on Polkadot.
Extending Convergence to the Moonbeam network will facilitate the interoperability of the project, with the same technical advantages and good performance as Parachain on Polkadot and Kusama.
TRON has been under selling pressure since mid-November, this downtrend was briefly interrupted by mild rallies. A similar upward movement is possible for TRON in the next few days.
TRX price chart | Source: TradingView
Above the $0.069 resistance, TRON did not face too much resistance in the low timeframes. If bitcoin can find some bullish momentum in the coming week, TRON could also follow suit and move towards the $0.076 and $0.0779 regions.
According to the Volume Profile Visible Range, the price at price level is in the low value range. It is also trading on a node with high volume, which means the $0.068 to $0.069 area will be a resistance on the way up. This area could also reject the TRX upside momentum again. The control point is at $0.076 with $0.077 as a resistance area.
OBV has been making a higher low for the past few days. However, OBV is in a long-term downtrend, which suggests that TRX has been under steady selling pressure for the past few weeks.
TRX might retest $0.066, but unless $0.069 converts from resistance into a demand zone, TRON will not make meaningful gains. Above the $0.069 and $0.0715 areas, there is not too much resistance that could stop TRX from revisiting $0.076.
On Jan. 13, Gemini announced an agreement to purchase financial management company Bitria for an undisclosed amount. Bitria is a digital asset platform and offers wealth management tools for financial advisors.
Gemini acquires crypto portfolio management platform BITRIAhttps://t.co/Xok89VJtKv
— The Block (@TheBlock__) January 13, 2022
Gemini’s director of global business development, Dave Abner, said the move makes the exchange one of the first digital asset custodians to offer full-service advisors.
Gemini plans to combine its custody and exchange services with Bitria’s portfolio management programs. This, Abner adds, will allow financial advisors to perform more advanced operations like collecting tax losses. Other services include portfolio rebalancing, fee collection and payment, scheduling and data connectivity.
News Moon River
Moon River is now available function new cross-chain token addition in the launch of XC-20s for Kusama, a new type of interactive token that is ERC-20 compliant but is also the native asset of Substrate.
The first XC-20, xcKSM, now available on Moonriver, can be generated by transmitting KSM from the Kusama Relay Chain.
These tokens generated in XC-20 format are transferrable to other parachains in Kuasama, and tokens from the parachains are transferrable to Moonriver as XC-20.
In the future, this feature will be added to Moonbeam Network
London Coffee Shop accepts 7 cryptocurrencies
Chai Ada, the newly opened coffee shop in west London, is on track to accept seven cryptocurrencies.
The list of accepted coins includes Bitcoin, Ethereum, XRP, Litecoin Horizen, and other options.
Tayyab Shafiq, cafe owner, said he wants to offer more…
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