Crypto Push

2023-09-09 18:01:15 Aptos: A period of caution preludes token unlock

Aptos’ price declines
CoinMarketCap’s data revealed that APT’s price had declined by more than 1.5% in the last 24 hours. At the time of writing, it was trading at $5.51, with a market capitalization of over $1.2 billion.

More trouble for Aptos
Apart from the upcoming token unlock, a check on the blockchain’s on-chain performance also raised a few red flags. For instance, negative sentiment around APT spiked quite a few times last week. Its one-week price volatility also plummeted. Open / Comment

2023-09-06 14:00:15 Circle recommends EU crypto guidelines to be MiCA-centred

Self-hosted wallets already under TFR’s purview, Circle argues
The USDC issuer further underscored that self-hosted wallets were not a general indicator of high-risk. It also cited a Financial Action Task Force (FATF) review published in July 2021 to argue that the data pertaining to illicit transactions with self-hosted wallets is highly variable. The data underscored a lack of consensus on ML/TF risks over these wallets.

It was in May that the EBA launched a public consultation on amendments to its ML/TF guidelines. The latest set of guidelines also extends its scope to crypto platforms.

EBA claims that the crypto service providers pose unique risks because of their novel technologies, global instant asset transfers, and privacy-enhancing features. The body aims to establish standard regulatory guidelines to properly identify and contain these risks within the crypto sector. Open / Comment

2023-09-02 19:00:21 Ripple submits new appeal in legal battle with SEC

The SEC has not even attempted to meet the standard for a stay, even after the Individual Defendants identified that omission in their pre-motion letter. The Individual Defendants write separately to oppose the SEC’s request. Ripple joins that opposition.

SEC seeks appeal in the XRP lawsuit
This legal dispute traces back to December 2020 when the SEC initiated a lawsuit against Ripple, including its CEO Brad Garlinghouse and co-founder Chris Larsen. The lawsuit led to many exchanges delisting XRP as a precaution against potential legal repercussions.

It’s sad that so many in the US crypto community have to resort to the legal process to prove this SEC is out of control and consistently wrong on the facts and the law. Open / Comment

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2023-08-30 16:30:50 Hong Kong grants crypto approval to a major Swiss bank

We see enormous potential in Hong Kong’s journey to becoming a global crypto market leader and look forward to contributing to that trajectory. SEBA Hong Kong commends the example Hong Kong sets for regulatory standards worldwide, and values the role of this licence in expanding our regulated footprint across Asia Pacific.

How Hong Kong is adopting crypto
Hong Kong authorities issued a series of crypto-related policy statements in October 2022. The action suggested that it might reopen to ventures focusing on digital assets. In December 2022, Hong Kong’s Legislative Council passed an amendment establishing a full licensing mechanism for crypto platforms offering retail trading services. Open / Comment

2023-08-27 20:00:00 A look at the Shiba Inu ecosystem post Shibarium relaunch

Shibarium is growing steadily
Since the launch, there have been multiple misconceptions related to Layer 2, and the most prominent one was that it was down. However, the reality was that it was the block explorer that was down and not the network itself. As reported earlier, this was because Shibarium uses an open-source version of Blockscout and doesn’t use massive servers for it.

Shiba Inu continues to disappoint investors
Though most expected SHIB’s price to surge after the Shibarium launch, the opposite turned out to be true. The memecoin has been witnessing multiple price corrections over the past few weeks. According to CoinMarketCap, SHIB was down by more than 3% in the last seven days. At press time, it was trading at $0.000008125 with a market capitalization of over $4.7 billion.

LEASH is stealing the spotlight
While all eyes were on SHIB and Bone ShibaSwap [BONE], the ecosystem’s third token, Doge Killer [LEASH], was silently stalking the cake. The memecoin’s price registered a promising uptick of more than 7% over the last week. Open / Comment

2023-08-24 17:01:09 The U.K. looks to ban crypto cold calls

The U.K. Treasury has issued a consultation paper to gather evidence about the impact of banning finance-related cold calls on businesses. The ban would cover calls related to crypto investments too.

The government will not tolerate this behavior.

Crypto promotions under the radar
Last month, the Financial Conduct Authority (FCA), the financial regulator of the U.K., proposed to bring crypto promotions within the ambit of advertising laws in the country.

Virtual asset corporations can advertise crypto to retail investors at large. However, they must include risk warnings too. It also warned financial influencers that crypto promotions or advice, unless FCA-approved, could be an offense punishable by up to two years in jail, an unlimited fine or both. Open / Comment

2023-08-21 12:01:47 What next as Dogecoin bulls attempt recovery

Dogecoin saw positive news on-chain recently. A report highlighted the growing number of active users but the market sentiment was firmly bearish after Bitcoin fell to $25.1k. The higher timeframe bias has been bearish in August.

The $0.06 saw a positive reaction from buyers over the weekend
On the 1-day chart, a bullish order block was seen at the $0.06 area (cyan). This was previously tested as a support zone on 30 June. Dogecoin was able to establish a rally in July that climbed as high as $0.0834 before the momentum began to shift bearish.

Dogecoin futures markets had muted participants and signaled sellers had the advantage
Dogecoin prices bounced close to 6% since 18 August, but the Open Interest stayed resolutely flat. This was a strong indication that sentiment was bearish as it highlighted the lack of bids from speculators. Open / Comment

2023-08-16 19:30:06 Chainlink plummets below as sell pressure overwhelms bulls

The Chainlink bullish order block breached with ferocity
The H4 bullish order block (cyan) extended from $7-$7.2. It was the region where LINK began its earlier rally that faced rejection at the $7.7 level. A retest of this zone might provide a bounce in prices.

Long liquidations painted a not-so-pretty picture
As Chainlink prices breached the $7 mark to sink as low as $6.8, it triggered a cascade of long liquidations. These positions were forced to sell and added to the bearish sentiment in the market. Over the past few hours, the long liquidations slowly ticked higher again. Open / Comment

2023-08-13 18:00:38 Here’s what ChatGPT told me about Cardano’s performance post the Mithril launch

Taking ChatGPT’s help in devising a basic intra-day strategy
One can come up with an endless array of strategies to trade on various timeframes using a combination of TradingView indicators. The only limitation is the user’s imagination and familiarity with indicators.

ChatGPT predicts the price movement of ADA
The bot refuses to venture into the business of predicting crypto prices in future years, even as a fun pursuit. To test the capabilities of the bot, I used a jailbreak method a Reddit user posted in the recent past. Using this, we asked ChatGPT what it thought the price of Cardano would be by the end of 2023.

What separates a good trader from a bad one?
It is possible to go on and on taking different indicators together, altering and tweaking their input values, and backtesting their signals. However, we shall move towards risk management. Risk management is what separates a trader from a gambler. It also helps undercut the emotions a trader might feel during a trade. Open / Comment