and are hovering around $4,000 and $150 respectively as they are looking for short to mid-term support levels.
BTC-USD
bitcoin lost $60 of its value on , and dropped from $4,170 to $4,110 on the daily chart. Bulls were trying everything possible to hold $4,000 and use it as a launchpad for further movements upwards.
, a subsidiary of the UK cryptocurrency exchange , will the trading of physical BTC futures on the Asian market under a new name. The platform will now be called Coin Futures and Lending Exchange, or CoinFLEX for short, and will offer futures contracts for , cash, and that can be leveraged up to 20 times. The announcement was made by the company co-founder Mark Lamb in an for Bloomberg as the company plans to introduce their new product to Asian retail investors beginning next month.
The new business is owned by a consortium including famed early crypto advocate Roger Ver, , and will be based in Hong-Kong.
More news from Asia reports that the Financial Services Agency () is reportedly considering BTC and ether-based exchange-traded funds (). According to an individual familiar with the agency’s plans, the financial watchdog concluded that digital currency futures “products would achieve little besides stoke speculation,” but ETFs are nonetheless being seriously analyzed. This is the exact opposite stance to the one taken by the United States, where the and are risk-averse on ETFs but permit physical BTC futures trading, Bloomberg .
In a recent , the NASDAQ-powered platform announced its tokenized stocks of Amazon, Baidu, Apple, Facebook, Google, Intel, Microsoft, Netflix, Nvidia, and Tesla available to trade. Various crypto to crypto and crypto to fiat pairs also announced including , Litecoin () and Cardano () pairs.
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The pair closed January 8, 2018, with another red candle on the daily chart, this time with an insignificant loss of approximately $10. The negligible losses could be a sign that bear pressure is minimal at this point and bulls will be looking for another breakout to levels above $4,200.
ETH-USD
The upcoming is without a doubt the engine behind recent gains as the pair continues the recovery process.
dropped 3.7 percent on January 7, 2018, and closed the trading day at $154 after reaching $165 during day trading on January 6.
Ethereum Classic (), the original version of Ethereum, experienced network disruptions, which commentators described as a 51% attack. This vulnerability allows users to double spend funds as long as they control more than 50% of the network’s mining hashrate.
On January 5, 2018, the U.S. exchange Coinbase “detected a deep chain reorganization of the Ethereum Classic blockchain” which included about 12 reorganizations with double spends totaling 219,500 ETC (~$1.1M). The company interactions with the ETC blockchain alongside other exchanges including and .
In a related , ETC developers denied the 51% attack rumors attributing the increased hashrate to the testing of new 1,400/Mh ethash machines by application-specific integrated circuit () manufacturer Linzhi.
The in a blog post from January 7, 2018, that it would grant $5 million to to support scalability, usability, and security work. The provided funds will be used on “Parity’s work on the Casper project, sharding, light clients, developer tools, QA, audits and infrastructure improvements.”
ETH dropped as low as $145 during the trading session on January 8, 2018, to close the day at $152.7, a little more than a one percent loss. The second biggest cryptocurrency is now looking to hold $150 to set the ground for $175 to $183 prior to the planned fork.
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Published at Wed, 09 Jan 2019 12:30:37 +0000
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