Solana was up by almost 8% on Tuesday, as the token rose for a fifth consecutive session. Recent moves have come despite the Christmas and New Year period, where market volumes were somewhat muted. Cosmos was also in the green, as prices rose to a multi-week high.
Solana (SOL) was one of the notable gainers on Tuesday, as the token climbed by as much as 8% in the day.
Following a low of $11.05 on Monday, SOL/USD surged to an intraday peak of $12.02 during today’s session.
The move saw solana rise for a fifth straight day, hitting its highest point since December 23 in the process.
Looking at the chart, Tuesday’s surge comes as SOL moved beyond a ceiling of $11.80, with the relative strength index (RSI) also nearing a resistance point.
As of writing, the index is tracking at 50.83, which is moving towards a major ceiling at the 53.00 mark.
This level hasn’t been hit since November 6, when solana was trading above the $30.00 level.
In addition to solana, cosmos (ATOM) was also in the green in today’s session, with price climbing for a third straight day.
ATOM/USD raced to a high of $10.22 on Tuesday, which comes less than a day after trading at a low of $9.77.
This surge in price has pushed cosmos to its highest point since December 10, with it now nearing a key resistance level also.
As can be seen from the chart, this ceiling is at the $10.50 level, which was last hit on December 5.
Recent moves in ATOM have come as the 10-day (red) moving average, crossed over its 25-day (blue) counterpart.
This typically is a sign of current and upcoming bullish sentiment, which could see cosmos bulls attempt to take price above $11.00.
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Could we see cosmos continue to rally 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.
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.
Solana was up by almost 8% on Tuesday, as the token rose for a fifth consecutive session. Recent moves have come despite the Christmas and New Year period, where market volumes were somewhat muted. Cosmos was also in the green, as prices rose to a multi-week high.
Solana (SOL) was one of the notable gainers on Tuesday, as the token climbed by as much as 8% in the day.
Following a low of $11.05 on Monday, SOL/USD surged to an intraday peak of $12.02 during today’s session.
The move saw solana rise for a fifth straight day, hitting its highest point since December 23 in the process.
Looking at the chart, Tuesday’s surge comes as SOL moved beyond a ceiling of $11.80, with the relative strength index (RSI) also nearing a resistance point.
As of writing, the index is tracking at 50.83, which is moving towards a major ceiling at the 53.00 mark.
This level hasn’t been hit since November 6, when solana was trading above the $30.00 level.
In addition to solana, cosmos (ATOM) was also in the green in today’s session, with price climbing for a third straight day.
ATOM/USD raced to a high of $10.22 on Tuesday, which comes less than a day after trading at a low of $9.77.
This surge in price has pushed cosmos to its highest point since December 10, with it now nearing a key resistance level also.
As can be seen from the chart, this ceiling is at the $10.50 level, which was last hit on December 5.
Recent moves in ATOM have come as the 10-day (red) moving average, crossed over its 25-day (blue) counterpart.
This typically is a sign of current and upcoming bullish sentiment, which could see cosmos bulls attempt to take price above $11.00.
Register your email here to get weekly price analysis updates sent to your inbox:
Could we see cosmos continue to rally 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.
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.
Cameron Winklevoss, co-founder of the cryptocurrency exchange Gemini, published an open letter to Digital Currency Group (DCG) CEO Barry Silbert on Jan. 2, 2022, stating that it had been 47 days since withdrawals from Genesis had been halted. In the letter, Winklevoss claimed that DCG owes $1.675 billion to Genesis. Silbert, however, responded on social media, denying the claim.
Gemini co-founder Cameron Winklevoss shared an open letter on Twitter on Monday in hopes to get Digital Currency Group (DCG) CEO Barry Silbert’s attention. Winklevoss says in the letter that he wrote it on behalf of 340,000 Gemini Earn users. “These users are not just numbers on a spreadsheet, they are real people,” Winklevoss declared. Basically, Gemini offered Earn users as much as 8% interest on specific digital assets and it managed to do so because Genesis Global Capital’s lending arm was a key partner.
Earn Update: An Open Letter to @BarrySilbert pic.twitter.com/kouAviTho4
— Cameron Winklevoss (@cameron) January 2, 2023
However, the FTX contagion spread to Genesis, a creditor in the FTX bankruptcy proceedings, and the company’s lending unit halted withdrawals and loan originations in mid-Nov. 2022. While Genesis was a key partner for Gemini’s Earn product, it too paused withdrawals the same week. Then the Financial Times (FT) published a report that alleged Genesis owed Gemini Earn users $900 million. Gemini also formed a creditors committee to retrieve the funds from Genesis with Houlihan Lokey as a financial advisor.
Additionally, upset customers are preparing a potential class action lawsuit against Gemini that alleges the exchange of defrauding customers with a bad deal. In the open letter, Winklevoss claims that his team tried to solve the issue with Silbert on multiple occasions and on Dec. 25, 2022. The letter says that the issue is a mess “entirely of your own making,” as Winklevoss accuses DCG of owing Genesis $1.675 billion.
“Every time we ask you for tangible engagement, you hide behind lawyers, investment bankers, and process,” the Gemini co-founder explained in the letter. Winklevoss further insisted that the funds were used to “fuel greedy share buybacks, illiquid venture investments, and kamikaze Grayscale NAV trades.” The Gemini co-founder further added:
It’s not lost on us that you’ve been working desperately to try and firewall DCG from the problems that you created at Genesis. You should dispense with this fiction because we all know what you know — that DCG and Genesis are beyond commingled.
After Winklevoss published his tweet, the DCG CEO responded to the claims that were made. “DCG did not borrow $1.675 billion from Genesis,” Silbert tweeted. “DCG has never missed an interest payment to Genesis and is current on all loans outstanding; next loan maturity is May 2023. DCG delivered to Genesis and your advisors a proposal on December 29th and has not received any response.”
Winklevoss then asked the DCG executive if he would “commit to solving this by January 8th in a manner that treats the $1.1 billion promissory note as $1.1 billion.” Silbert did not respond to Winklevoss’ final tweet about committing to a resolution by that day. The open letter to Silbert also demands that the issue gets resolved by Jan. 8, 2022.
The DCG executive’s last tweet on Dec. 19, 2022, shared an article about the DCG subsidiary Grayscale Investments possibly providing investors with a tender offer if the Bitcoin Trust’s exchange-traded fund (ETF) goals failed. In that specific tweet, someone asked Silbert how he was doing, and the DCG CEO responded:
Looking forward to getting this year behind us.
What do you think about the issues between Gemini’s co-founder Cameron Winklevoss and Barry Silbert over liquidity issues between Gemini and Genesis? 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.
Bitcoin ATM Operator Indicted in New York Allegedly Running Illegal Business Attracting Criminals
A bitcoin ATM operator has been indicted in New York for running an illegal business "marketed towards individuals engaged in criminal activity." The district attorney in charge described: "Robert Taylor allegedly went to great lengths to keep his bitcoin kiosk ... read more.
Cameron Winklevoss, co-founder of the cryptocurrency exchange Gemini, published an open letter to Digital Currency Group (DCG) CEO Barry Silbert on Jan. 2, 2022, stating that it had been 47 days since withdrawals from Genesis had been halted. In the letter, Winklevoss claimed that DCG owes $1.675 billion to Genesis. Silbert, however, responded on social media, denying the claim.
Gemini co-founder Cameron Winklevoss shared an open letter on Twitter on Monday in hopes to get Digital Currency Group (DCG) CEO Barry Silbert’s attention. Winklevoss says in the letter that he wrote it on behalf of 340,000 Gemini Earn users. “These users are not just numbers on a spreadsheet, they are real people,” Winklevoss declared. Basically, Gemini offered Earn users as much as 8% interest on specific digital assets and it managed to do so because Genesis Global Capital’s lending arm was a key partner.
Earn Update: An Open Letter to @BarrySilbert pic.twitter.com/kouAviTho4
— Cameron Winklevoss (@cameron) January 2, 2023
However, the FTX contagion spread to Genesis, a creditor in the FTX bankruptcy proceedings, and the company’s lending unit halted withdrawals and loan originations in mid-Nov. 2022. While Genesis was a key partner for Gemini’s Earn product, it too paused withdrawals the same week. Then the Financial Times (FT) published a report that alleged Genesis owed Gemini Earn users $900 million. Gemini also formed a creditors committee to retrieve the funds from Genesis with Houlihan Lokey as a financial advisor.
Additionally, upset customers are preparing a potential class action lawsuit against Gemini that alleges the exchange of defrauding customers with a bad deal. In the open letter, Winklevoss claims that his team tried to solve the issue with Silbert on multiple occasions and on Dec. 25, 2022. The letter says that the issue is a mess “entirely of your own making,” as Winklevoss accuses DCG of owing Genesis $1.675 billion.
“Every time we ask you for tangible engagement, you hide behind lawyers, investment bankers, and process,” the Gemini co-founder explained in the letter. Winklevoss further insisted that the funds were used to “fuel greedy share buybacks, illiquid venture investments, and kamikaze Grayscale NAV trades.” The Gemini co-founder further added:
It’s not lost on us that you’ve been working desperately to try and firewall DCG from the problems that you created at Genesis. You should dispense with this fiction because we all know what you know — that DCG and Genesis are beyond commingled.
After Winklevoss published his tweet, the DCG CEO responded to the claims that were made. “DCG did not borrow $1.675 billion from Genesis,” Silbert tweeted. “DCG has never missed an interest payment to Genesis and is current on all loans outstanding; next loan maturity is May 2023. DCG delivered to Genesis and your advisors a proposal on December 29th and has not received any response.”
Winklevoss then asked the DCG executive if he would “commit to solving this by January 8th in a manner that treats the $1.1 billion promissory note as $1.1 billion.” Silbert did not respond to Winklevoss’ final tweet about committing to a resolution by that day. The open letter to Silbert also demands that the issue gets resolved by Jan. 8, 2022.
The DCG executive’s last tweet on Dec. 19, 2022, shared an article about the DCG subsidiary Grayscale Investments possibly providing investors with a tender offer if the Bitcoin Trust’s exchange-traded fund (ETF) goals failed. In that specific tweet, someone asked Silbert how he was doing, and the DCG CEO responded:
Looking forward to getting this year behind us.
What do you think about the issues between Gemini’s co-founder Cameron Winklevoss and Barry Silbert over liquidity issues between Gemini and Genesis? 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.
Bitcoin ATM Operator Indicted in New York Allegedly Running Illegal Business Attracting Criminals
A bitcoin ATM operator has been indicted in New York for running an illegal business "marketed towards individuals engaged in criminal activity." The district attorney in charge described: "Robert Taylor allegedly went to great lengths to keep his bitcoin kiosk ... read more.
PRESS RELEASE. As financial markets worldwide confront major challenges, the crypto market has remained sluggish in 2022. Meanwhile, along with the slowing global economic growth, the crypto market has also entered a prolonged bear period. Despite the continued sluggishness of crypto this year, the industry raised more funds in the first half of the year than it did in 2021. This indicates that the bear market also offers premium categories and projects, which allow us to prepare for the next crypto bull.
2022 in Review: Unlocking Potential in the Blockchain Space
Since its inception, ViaBTC Capital, a new institutional investor focusing on blockchain, has always aimed to leverage the technology, talent, project, and capital of the blockchain space and build an all-encompassing, globalized blockchain investment ecosystem through steady efforts. Looking back on its track record in 2022, we can tell that ViaBTC Capital has invested in many distinctive, promising projects, including SingSing, ZKX Protocol, Sparkadia, Port3, PEPO, Orderly Network, Aperture, and WOO. In the meantime, the institution has reached strategic partnerships with public chain ecosystems such as Near (MetaWeb Ventures), Metis, and Avalanche through excellent investment performance and forward-looking deployments. Through these efforts, they share resources to empower each other and deliver win-win results.
Remaining dynamic in today’s bear market, ViaBTC Capital has built a robust, diversified portfolio while improving its post-investment services. This year, ViaBTC Capital has focused on infrastructure and data services, with an emphasis on ZK technology and applications. Moreover, the institution has diversified its investment focus and enhanced the connections between its portfolio and ViaBTC Group. Working together with other ViaBTC subsidiaries, ViaBTC Capital has explored more business models and achieved fantastic results.
The strategies of professional investment institutions are always watched by both individual and institutional investors. To boost its team capabilities, ViaBTC Capital values talents and upskills its team through training and workshops. When selecting the investment target, the institution focuses more on tech innovation and feasibility. For ViaBTC Capital, a solid project should be able to create a positive economic cycle and maintain steady, sustainable growth in the long term.
In terms of post-investment services, ViaBTC Capital has built strong track records in operational strategies, financing channels, economic models, and marketing. It has empowered project parties by providing them with sensible advice and operating proposals while tapping into its own strengths, building trust with projects. Meanwhile, ViaBTC Capital has regarded data utilization as a key priority of its 2022 strategy. The institution has closely monitored the crypto financial markets and analyzed the market trends. Relying on solid professional competence and a well-established investment framework, ViaBTC Capital has released reports by examining the relevant data and built a comprehensive database to meet the demands of investors and partners. This year, ViaBTC Capital has released over 50 reports on industry development to offer insightful data reference for the blockchain investment market, all of which are appreciated by peer institutions.
The blockchain investment market boasts a promising future. As an institutional investor, ViaBTC Capital aims to promote blockchain development via investment. The institution believes that the industry will stay poised for take-off in the next two years, a period for continued blockchain development and innovation. The blockchain space can only be prepared for the major challenges arising from large-scale adoption by constantly improving the carrying capacity of infrastructures such as public chains, Layer 2, data availability layers, and middleware. At the same time, project teams will also have to focus more on tech development and product upgrade to offer better products and more satisfying user experiences. Going forward, ViaBTC Capital will march forward together with partners, seek constant innovation, and build a diversified team to search for the next blockchain unicorn.
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not 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 the press release.
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Fidelity Investments Launches Crypto, Metaverse ETFs — Says 'We Continue to See Demand'
Fidelity Investments, one of the largest financial services firms with more than $11 trillion under administration, is launching exchange-traded funds (ETFs) focusing on the crypto ecosystem and the metaverse. "We continue to see demand, particularly from young investors, for access ... read more.
Source From : News