What Happened? ’s standout performance this month accelerated in the last few days. gained ~5% over the past week, breaking $5,600 on multiple exchanges for the first time since mid-November. Its strength this year has put the elusive ‘golden cross’ firmly in ’s crosshairs as its 50-day moving average breaks above its 200-day equivalent.
Why Does This Matter? This is the first golden crossover since October 28th, 2015. The technical indicator is renowned as a bullish sign for any asset, but it’s important to remember just how quick downside volatility can strike. There’s only been four instances of a golden cross for since 2012 so our sample size is obviously limited. Three of these instances resulted in sizable declines in over the following 30, 60, and 90-day periods. The most recent occurence in October 2015 is the exception, marking the early stages of ’s famous run up through late 2017.
What Happened? Societe Generale SFH issued covered bonds worth $112 million on the public . The bonds have been issued as a security . Covered bonds are debt securities issued by a financial institution and then backed by a separate pool of assets. Rating agency Moody’s and Fitch gave the a AAA rating. Societe Generale was the sole investor and the were not sold outside of the company.
Why Does This Matter? The initiative is part of the bank’s experimentation with projects. The bank hopes the transaction will help to improve transparency and efficiency of bond issues. According to the announcement, “This live transaction explores a more efficient process for bond issuances. Many areas of added value are predicted, among which, product scalability and reduced time to market, computer code automation structuring, thus better transparency, faster transferability and settlement.”
What Happened? According to a report by CoinDesk Korea, Samsung is developing a network and potentially a called “Samsung Coin”. It’s important to note that this report cites an unnamed company official familiar with “Samsung’s internal situation.” Details are scarce, and nothing is confirmed, but the network could either be public or hybrid — a combination of public and private blockchains.
Why Does This Matter? Samsung has already dipped its toes into crypto waters by introducing a and decentralized apps support on its Galaxy S10 phone, but this is the first time we’ve heard of the company building a -based network and a / of its own. This would add to the credible and established names people are familiar with like Facebook and JPMorgan who are looking to leverage technology.
Favorite Tweets
Published at Thu, 25 Apr 2019 17:56:45 +0000
