Litecoin fell for a third consecutive session on Thursday, as the token continued to move away from recent highs. Cryptocurrencies have been mostly lower in recent days, as traders continue to fear a global recession. Cosmos also remained in the red during today’s session.
Litecoin (LTC) dropped to a ten-day low on Thursday, with the token falling for a third straight session.
Following a high of $79.20 on Wednesday, LTC/USD moved to a low of $74.82 earlier in the day’s session.
As a result of this, the token fell to its lowest point since November 29, when prices hit a bottom of $73.39.
Looking at the chart, it appears that litecoin bears are hoping to push prices towards a floor at $73.00.
This seems a possibility, especially with the 14-day relative strength index (RSI) fast approaching a floor of its own.
The index is currently tracking at 57.10, and seems to be moving towards a support point of 53.00.
Another notable token on Thursday has been cosmos (ATOM), which fell to a ten-day low earlier in the day.
ATOM/USD fell to a bottom of $9.52 on Thursday, before bulls reentered the market and bought the recent dip.
Today’s bottom saw cosmos trade at its lowest level since November 28, which was the last time the token hit its floor at $9.45.
As of writing, ATOM has mostly rebounded, and is currently trading at the $9.71 level.
In addition to this, the RSI has bounced from a floor of its own at 39.50, and is currently tracking at 41.40.
Should momentum continue in an upward direction, ATOM bulls will likely target a move above the $10.00 mark.
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Do you expect cosmos to move above $10.00 this week? Let us know your thoughts in the comments.
Eliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Oman to Incorporate Real Estate Tokenization in Virtual Assets Regulatory Framework
Real estate tokenization is set to be incorporated into Oman Capital Markets Authority (OCMA)'s virtual asset regulatory framework. According to an advisor with the authority, the tokenizing of real estate will open investment opportunities for local and foreign investors. Real ... read more.
Litecoin fell for a third consecutive session on Thursday, as the token continued to move away from recent highs. Cryptocurrencies have been mostly lower in recent days, as traders continue to fear a global recession. Cosmos also remained in the red during today’s session.
Litecoin (LTC) dropped to a ten-day low on Thursday, with the token falling for a third straight session.
Following a high of $79.20 on Wednesday, LTC/USD moved to a low of $74.82 earlier in the day’s session.
As a result of this, the token fell to its lowest point since November 29, when prices hit a bottom of $73.39.
Looking at the chart, it appears that litecoin bears are hoping to push prices towards a floor at $73.00.
This seems a possibility, especially with the 14-day relative strength index (RSI) fast approaching a floor of its own.
The index is currently tracking at 57.10, and seems to be moving towards a support point of 53.00.
Another notable token on Thursday has been cosmos (ATOM), which fell to a ten-day low earlier in the day.
ATOM/USD fell to a bottom of $9.52 on Thursday, before bulls reentered the market and bought the recent dip.
Today’s bottom saw cosmos trade at its lowest level since November 28, which was the last time the token hit its floor at $9.45.
As of writing, ATOM has mostly rebounded, and is currently trading at the $9.71 level.
In addition to this, the RSI has bounced from a floor of its own at 39.50, and is currently tracking at 41.40.
Should momentum continue in an upward direction, ATOM bulls will likely target a move above the $10.00 mark.
Register your email here to get weekly price analysis updates sent to your inbox:
Do you expect cosmos to move above $10.00 this week? Let us know your thoughts in the comments.
Eliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Oman to Incorporate Real Estate Tokenization in Virtual Assets Regulatory Framework
Real estate tokenization is set to be incorporated into Oman Capital Markets Authority (OCMA)'s virtual asset regulatory framework. According to an advisor with the authority, the tokenizing of real estate will open investment opportunities for local and foreign investors. Real ... read more.
Over the last few weeks, there’s been a lot of information revealed surrounding the recent FTX and Alameda Research disaster. On Dec. 6, the Financial Times (FT) published documentation that shows Alameda’s investment portfolio, which alleges the company spent more than $5 billion on hundreds of investments. Some of the funds went to odd investments like a fertility company called Ivy Natal and a drone manufacturer called Brinc Drones.
During the last two years, FTX and Alameda Research spent billions on deals, sponsorships, and investments. At the end of January 2022, FTX looked colossal after it raised $400 million from investors like Softbank Vision Fund 2, Tiger Global, Temasek, Paradigm, and the Ontario Teachers’ Pension Plan Board.
After the Series C raise, FTX was valued at $32 billion and the former FTX CEO Sam Bankman-Fried (SBF) said FTX aimed to expand the firm’s “global reach.” After the revelations concerning Alameda’s balance sheet during the first week of November, FTX and SBF’s quantitative trading firm imploded.
Since then, FTX’s parent firm West Realm Shires Services, Alameda Research, and approximately 130 additional affiliated companies filed for Chapter 11 bankruptcy protection. This week on Dec. 6, 2022, FT released documentation tied to Alameda Research’s investments, which were close to 500 investments that added up to roughly $5.4 billion.
In addition to FT, The Block’s VP of research, Larry Cermak, exported the entire list of Alameda-based investments into an excel sheet. Cermak further noted that Alameda’s largest investments include Genesis Digital Assets, Anthropic, Digital Assets DA AG, K5, and IEX.
If the data is accurate, the documentation shows that Alameda invested a lot of money into blockchain projects and foundations, tokens, and non-fungible token (NFT) projects as well. This includes Hole Tokens, Polygon, Near, 1inch, Lido, Xterio, Aptos, and Yuga Labs. Polygon for instance received $50,000,000 from Maclaurin Investments Ltd., otherwise known as Alameda Ventures.
Near gathered $50 million from FTX Ventures Ltd., and Maclaurin gave Near $30,000,000. FTX Ventures gave Yuga Labs roughly $50 million and Aptos scored $74.9 million from Clifton Bay Investments, also known as Alameda Research Ventures. Alameda invested in well known funds like the Multicoin Venture Fund II and the Skybridge Capital II fund.
Money went to Chinese news companies such as Blockbeats, and O’daily News. The company invested in Paxos, Messari, Starkware, Circle, Fanatics, Magic Eden, and Sky Mavis (Axie Infinity). An Ohio-based produce and vertical farming firm called 80 Acres got $25 million and $11.5 million was funneled to a firm called Geniome.
A whopping $500 million went to the artificial intelligence (AI) research firm Anthropic and $1.5 million went to a fertility venture called Ivy Natal. FT described Alameda’s portfolio as a “disparate bundle of nearly 500 illiquid investments split across 10 holding companies.” The FT author further notes that “FT makes no claim as to the data’s accuracy or completeness” as far as the documentation of Alameda’s investments are concerned.
What do you think about all the alleged investments Alameda made? Let us know what you think about this subject in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Central Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year
The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this ... read more.
Source From : News