Connect with us

Blockchain

Ethereum, Dogecoin Price Analysis: July 22, 2021

Published

on

  • Bitcoin and Ethereum spike after Elon Musk’s comments at the B Conference on Wednesday.
  • Ethereum price closes the gap to $2,000 as investors eye liftoff to $2,400.
  • Dogecoin joins the rest of the crypto market in recovery, closing in on $0.2

The market was dotted mainly green on Wednesday as crypto assets found balance in the wake of losses earlier in the week. Bitcoin renewed the price action above $30,000 and stepped above $32,000 amid Elon Musk’s comments at the B Conference.

The billionaire affirmed that Tesla would go back to accepting BTC as payment of its electric vehicles as mining goes green. Moreover, Elon revealed that he owns Ethereum on top of Bitcoin. Furthermore, SpaceX, his founded Space Company, also owns Bitcoin.

Ethereum:-

Ether has already rebounded from the weekly low of $1,730 as Musk’s comments hit mainstream media. The pioneer smart contract token extended the bullish leg above $1,900 on Musk’s remarks at the B Conference.

The bullish outlook took a hiatus above $1,900 but seemed to have resumed on Thursday ahead of the European session. At the time of writing, Ethereum trades at $1,997 while bulls battle to push the price above $2,000.

Meanwhile, resistance brought about by the 100 Simple Moving Average (SMA) must come down to allow bulls to extend their party above $2,000. The 200 SMA at $2,050 will also hinder the upswing, but investors have their eyes on $2,400.

ETH/USD four-hour chart

ETH/USD price chart
ETH/USD price chart by Tradingview
advertisement

Dogecoin price gained considerable ground mid-week after the drop to $0.16. The nurtured uptrend could have been a reaction to oversold conditions earlier in the week and the presence of Elon Musk at the B Conference.

Although Musk did not dwell on the meme coin this time, his appearance only signifies a lot for DOGE. Hence, the token rallied toward $0.2 but currently exchanging hands at $0.191.

It is essential to realize that Dogecoin is trading above a long-term descending trend line, a move that could strengthen the uptrend. The position above this line must be defended to allow bulls time to plan the subsequent recovery above $0.2.

DOGE/USD four-hour chart

DOGE/USD price chart
DOGE/USD price chart by Tradingview

Trading above $0.2 will also cement the buyers’ presence in the market as they gaze at $0.3. Several hurdles that must be dealt with along the way include the 50 SMA and the 100 SMA on the four-hour chart.

Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author

Subscribe to our newsletter for free

Handpicked Stories

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

Click here to access.

Source: https://coingape.com/88223-2/

Blockchain

Goldman Sachs Files for “DeFi” ETF to Track Tech Giants

Published

on

The banking giant filed an application with the U.S. Securities and Exchange Commission (SEC) on July 26 for a DeFi ETF that would offer exposure to public companies.

According to the filing, the proposed fund called the “Goldman Sachs Innovate DeFi and Blockchain Equity ETF”, seeks to provide investment results that closely correspond to the performance of the Solactive DeFi and Blockchain Index from the German indices provider.

The details were thin on the ground but the fund will invest at least 80% of its assets into securities, stocks, and fintech firms featured in the index.

DeFi Fund Without The DeFi

It appears that Goldman may be a little confused over the definition of “DeFi”. A closer look at the Solactive Index reveals that it is largely comprised of U.S. tech giants and international telecoms companies.

Of the top twenty components in its July 23 report, not one of them could be described as a DeFi or blockchain project or organization. The top three were Nokia, Facebook, and Google’s Alphabet.


ADVERTISEMENT

Also in the list of stocks tracked were payments giants Visa, Mastercard, and PayPal, tech giants Microsoft, IBM, and Intel, and Chinese e-commerce and telecoms monopolies Baidu, Alibaba, and Tencent.

Hardly what anyone would describe as “decentralized finance”.

It is not the first time Goldman Sachs has got its wires twisted over the crypto industry.

Confusion Reigns at Goldman

In a June 14 report, titled “Digital Assets: Beauty Is Not in the Eye of the Beholder”, the bank concluded that Bitcoin is not “a long-term store of value or an investable asset class”.

They contradicted a May 21 report titled “Crypto: A New Asset Class?” which was largely positive about them with the global head of digital assets at Goldman, saying “Bitcoin is now considered an investable asset”.

Earlier this month, analysts at the investment bank outlined their reasoning behind the claim that Ethereum will eventually become a better store of value than Bitcoin. It also reported that 45% of the ultra-rich are interested in crypto.

In April, Goldman added Bitcoin to its year-to-date returns report, and in March, the bank filed for a Bitcoin ETF with the SEC according to crypto custody firm New York Digital Investment Group (NYDIG).

Now it seems that Goldman has equated DeFi with the likes of Facebook, Google, and Microsoft!

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

You Might Also Like:


PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

Click here to access.

Source: https://cryptopotato.com/goldman-sachs-files-for-defi-etf-to-track-tech-giants/

Continue Reading

Blockchain

Huobi Files to Dissolve Chinese Entity Following Recent Cryptocurrency Crackdown

Published

on

One of the leading cryptocurrency exchanges, Huobi, has filed to dissolve an entity based in China. This comes as the country escalates its efforts to clamp down on the cryptocurrency industry, in general.

  • Evident in Chinese business registration archives, the entity’s management has filed a Resolution to dissolve On July 22nd, this year.
  • The announcement further reads that “creditors are requested to declare their claims to the liquidation team within 45 days from the announcement date.”
  • Listed as a claim contact person, as well as the head of the liquidation team, is Huobi Group’s founder and CEO, Lin Li.
  • It’s worth noting that Huobi has moved its exchange out of China quite a while back, and it’s unlikely that this will affect its services. As of now, Huobi Group is based in the Seychelles.
  • In any case, the move comes amid a broader crackdown on behalf of China towards the entire cryptocurrency industry.
  • Just this month, China’s Central Bank shut down a company that provides services for cryptocurrency transactions.
SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

You Might Also Like:


PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

Click here to access.

Source: https://cryptopotato.com/huobi-files-to-dissolve-chinese-entity-following-recent-cryptocurrency-crackdown/

Continue Reading

Blockchain

Goldman Sachs Files for “DeFi” ETF to Track Tech Giants

Published

on

The banking giant filed an application with the U.S. Securities and Exchange Commission (SEC) on July 26 for a DeFi ETF that would offer exposure to public companies.

According to the filing, the proposed fund called the “Goldman Sachs Innovate DeFi and Blockchain Equity ETF”, seeks to provide investment results that closely correspond to the performance of the Solactive DeFi and Blockchain Index from the German indices provider.

The details were thin on the ground but the fund will invest at least 80% of its assets into securities, stocks, and fintech firms featured in the index.

DeFi Fund Without The DeFi

It appears that Goldman may be a little confused over the definition of “DeFi”. A closer look at the Solactive Index reveals that it is largely comprised of U.S. tech giants and international telecoms companies.

Of the top twenty components in its July 23 report, not one of them could be described as a DeFi or blockchain project or organization. The top three were Nokia, Facebook, and Google’s Alphabet.


ADVERTISEMENT

Also in the list of stocks tracked were payments giants Visa, Mastercard, and PayPal, tech giants Microsoft, IBM, and Intel, and Chinese e-commerce and telecoms monopolies Baidu, Alibaba, and Tencent.

Hardly what anyone would describe as “decentralized finance”.

It is not the first time Goldman Sachs has got its wires twisted over the crypto industry.

Confusion Reigns at Goldman

In a June 14 report, titled “Digital Assets: Beauty Is Not in the Eye of the Beholder”, the bank concluded that Bitcoin is not “a long-term store of value or an investable asset class”.

They contradicted a May 21 report titled “Crypto: A New Asset Class?” which was largely positive about them with the global head of digital assets at Goldman, saying “Bitcoin is now considered an investable asset”.

Earlier this month, analysts at the investment bank outlined their reasoning behind the claim that Ethereum will eventually become a better store of value than Bitcoin. It also reported that 45% of the ultra-rich are interested in crypto.

In April, Goldman added Bitcoin to its year-to-date returns report, and in March, the bank filed for a Bitcoin ETF with the SEC according to crypto custody firm New York Digital Investment Group (NYDIG).

Now it seems that Goldman has equated DeFi with the likes of Facebook, Google, and Microsoft!

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

You Might Also Like:


PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

Click here to access.

Source: https://cryptopotato.com/goldman-sachs-files-for-defi-etf-to-track-tech-giants/

Continue Reading
Blockchain24 hours ago

Santo Blockchain and French Artist Jerome Peschard Release Cutting Edge XR-NFT Series

Blockchain4 days ago

Binance NFT Marketplace Launches Golden Ticket NFT by Virtue Poker for Tournament with Phil Ivey, Vince Vaughn and Others

Blockchain5 days ago

Binance NFT Marketplace Launches Golden Ticket NFT by Virtue Poker for Tournament with Phil Ivey, Vince Vaughn and Others

Blockchain5 days ago

This is The First DeFi Protocol to Support Tether’s EURO

Blockchain5 days ago

Binance NFT Marketplace Launches Golden Ticket NFT by Virtue Poker for Tournament with Phil Ivey, Vince Vaughn and Others

Blockchain5 days ago

Rap Legend Busta Rhymes Officially a Bitcoin HODLer

Blockchain5 days ago

Wyre Partners With Polygon to Offer USDC to Customers

Blockchain3 days ago

Fintech Giant Zip Co to Provide Cryptocurrency Trading Services

Blockchain5 days ago

Binance NFT Marketplace Launches Golden Ticket NFT by Virtue Poker for Tournament with Phil Ivey, Vince Vaughn and Others

Blockchain5 days ago

Binance NFT Marketplace Launches Golden Ticket NFT by Virtue Poker for Tournament with Phil Ivey, Vince Vaughn and Others

Blockchain3 days ago

Blockchain Startups Raised over $4 Billion in VC Funding in Q2 2021

Blockchain5 days ago

Binance NFT Marketplace Launches Golden Ticket NFT by Virtue Poker for Tournament with Phil Ivey, Vince Vaughn and Others

Blockchain5 days ago

Binance NFT Marketplace Launches Golden Ticket NFT by Virtue Poker for Tournament with Phil Ivey, Vince Vaughn and Others

Blockchain5 days ago

This is The First DeFi Protocol to Support Tether’s EURO

Blockchain5 days ago

Billionaire Thomas Peterffy Admits He Has Invested in Cryptocurrencies

Blockchain5 days ago

Binance NFT Marketplace Launches Golden Ticket NFT by Virtue Poker for Tournament with Phil Ivey, Vince Vaughn and Others

Blockchain3 days ago

Nigeria to Launch a Pilot for Its CBDC in October

Blockchain5 days ago

Binance NFT Marketplace Launches Golden Ticket NFT by Virtue Poker for Tournament with Phil Ivey, Vince Vaughn and Others

Blockchain5 days ago

Nodle Announces Partnership with ESTV

Blockchain4 days ago

Is This the Token That Can Change Africa’s Future? A Look Into the XTEMCoin

Blockchain3 days ago

Blockchain3 days ago

Nigeria to Launch a Pilot for Its CBDC in October

Blockchain2 days ago

Amazon Wants a Leader For Its Digital Currency and Blockchain Product Unit

Blockchain5 days ago

Wyre Partners With Polygon to Offer USDC to Customers

Blockchain4 days ago

Binance NFT Marketplace Launches Golden Ticket NFT by Virtue Poker for Tournament with Phil Ivey, Vince Vaughn and Others

Blockchain4 days ago

CZ Hints Binance US is Considering Going Public Via IPO

Blockchain3 days ago

Amazon Wants a Leader For Its Digital Currency and Blockchain Product Unit

Blockchain5 days ago

Binance NFT Marketplace Launches Golden Ticket NFT by Virtue Poker for Tournament with Phil Ivey, Vince Vaughn and Others

Blockchain5 days ago

No, Jack Dorsey isn’t trolling ETH by making its logo the Ethiopian flag

Blockchain5 days ago

Billionaire Thomas Peterffy Admits He Has Invested in Cryptocurrencies

Blockchain3 days ago

Fintech Giant Zip Co to Provide Cryptocurrency Trading Services

Blockchain3 days ago

Uniswap Labs Limits Access To Certain Tokens, What It Could Mean For The DeFi Sector

Blockchain3 days ago

Nigeria to Launch a Pilot for Its CBDC in October

Blockchain2 days ago

Fintech Giant Zip Co to Provide Cryptocurrency Trading Services

Blockchain2 days ago

Fintech Giant Zip Co to Provide Cryptocurrency Trading Services

Blockchain24 hours ago

Tether Executives Allegedly Under DOJ Investigation for Suspected Bank Fraud

Blockchain3 days ago

CZ Hints Binance US is Considering Going Public Via IPO

Blockchain2 days ago

BigWin Announces Rebranding – Launch of new Welcoming Activities for Freshmen

Blockchain5 days ago

Rap Legend Busta Rhymes Officially a Bitcoin HODLer

Trending