Archive | January 2021

WallStreetBets – FTX creates tokenized versions of actions suspended by Robinhood

FTX has launched tokenized versions of several actions suspended by the Robinhood app. The exchange also created a WallStreetBets (WSB) index consisting of 5 stocks and 2 cryptocurrencies.

FTX and Bittrex tokenize stocks

Over the past few days, the Reddit group, known as WallStreetBets , has inflamed financial markets by inflating the prices of several stocks.

In response, Robinhood suspended trading in stocks targeted on its app, causing anger among retail traders . This initiative fuels the theory that the financial system is rigged in favor of professional investors.

In response to these restrictions, the Bittrex and FTX exchanges have launched tokenized versions of these stocks so that small investors can benefit from the same opportunities as “multi-billion dollar financial institutions”.

Tom Albright, CEO of Bittrex, said:

“We believe that blockchain, decentralization and will finally put small investors on an equal footing with financial institutions. ”

FTX creates a WallStreetBets index

The FTX exchange has also launched an index dedicated to WallStreetBets . The index trades as a futures contract with an expiration scheduled for March 26, 2021.

We can read in the press release :

“We are pleased to announce that we have launched the trading of a basket of stocks and cryptocurrencies targeted by WallStreetBets.”

The WallStreetBets Index, or WSB, officially trades under the ticker WSB-0326, and tracks the price of 5 stocks and 2 cryptocurrencies . Thus the index is made up of shares from Nokia (NOK), BlackBerry (BB), AMC Entertainment (AMC), GameStop (GME), iShares Silver Trust (SLV) and Dogecoin tokens (DOGE) and the FTX Token (FTT) .

Sam Bankman-Fried, CEO of FTX, also explained that the WSB index futures contract is cash-settled against the index of tokenized stocks on FTX.

Each asset has a weight of 16.5% in the basket, except for the native FTX token, which has a weight of only 1% .

This entry was posted on 30. January 2021, in Bitcoin.

Le milliardaire Mark Cuban présente le plus gros chiffre d’affaires de Bitcoin alors que Jim Kramer compare la CTB à des actions erratiques

L’entrepreneur milliardaire Mark Cuban présente le plus grand argumentaire de Bitcoin.

Dans une série de tweets, le propriétaire des Dallas Mavericks affirme que l’action sur le prix des actifs cryptographiques lui rappelle la façon dont les actions technologiques se négociaient à l’époque des dot-com.

En regardant le commerce des cryptos, c’est EXACTEMENT comme la bulle boursière d’Internet. EXACTEMENT. Je pense que BTC, Eth et quelques autres seront analogues à celles qui ont été construites pendant l’ère du point com, ont survécu à l’éclatement de la bulle et ont prospéré, comme AMZN, EBay et Priceline. Beaucoup d’autres ne le seront pas“.

Cuban ajoute que si Bitcoin (BTC) est connu pour avoir de multiples récits, il dit qu’il n’y a qu’un seul récit qui compte.

Comme pendant la bulle Internet, “les experts” essaient de justifier les prix du jour, quels qu’ils soient. La cryptographie, tout comme l’or, est déterminée par l’offre et la demande. Tous les discours sur la dévalorisation, le fiat, etc. ne sont que des arguments de vente. Le plus grand argument de vente est la rareté par rapport à la demande. C’est tout”.

Pendant ce temps, Jim Cramer, l’animateur de Mad Money sur CNBC, se penche sur la volatilité de Bitcoin. Dans une interview avec TheStreet, il souligne que Bitcoin a été échangé d’un sommet de 42 000 $ à environ 32 000 $.

Je pense que les gens doivent reconnaître que ce marché ne ressemble à aucun autre marché que vous ayez jamais vu. Nous ne savons pas qui achète, nous ne savons pas qui vend, nous ne savons pas ce qui se passe, nous ne savons rien de ce qui se passe, nous ne savons pas où cela va…

Si elle repasse en dessous de 20 000 dollars, je suis à nouveau acheteur. Mais j’ai sorti mon prix de revient et je joue avec l’argent de la maison. Ce n’est pas différent d’un titre entièrement erratique, sauf qu’il se négocie 24 heures sur 24, 7 jours sur 7“.

This entry was posted on 14. January 2021, in Bitcoin.

XRP bounces but its trend reversal remains to be confirmed

XRP trades between long term support and resistance located at $ 0.23 and $ 0.32.

The price is also following a short term upward support line.

The trend is not upwards until the price has returned to the $ 0.47 zone.

The price of Bitcoin Supersplit has been rising since December 29. That said, that rally may just be a retracement in response to the rapid decline that took place between December 19 and 23.

XRP’s trend cannot be considered upward until it has returned to the $ 0.45 area.

Long term level

Since peaking at $ 0.78 on November 21, 2020, the price of XRP has suffered a massive decline of 61%. It has, however, been up from its low of $ 0.172 on December 29.

This drop took XRP down to support at $ 0.23, before it started to rebound. XRP is currently trading in a range of $ 0.23 to $ 0.30.

Although technical indicators are bearish, price has not retraced significantly since its fall.

The 0.382 fibonacci retracement level (which is often the minimum retracement amount of a move) is found at $ 0.40. The fibonacci retracement level is for its part at $ 0.47.

A rally to the 0.5 level would go a long way in indicating a possible uptrend in XRP.

Cryptocurrency trader @Crediblecrypto shared a chart of XRP, indicating that it will likely follow a rally towards the $ 0.46 area

Its passage of this zone or the rejection of the latter will be a major element in determining the direction of the trend. This is consistent with our analysis and the areas of resistance that we have highlighted.

An observation of the daily chart reinforces the importance of the resistance located at $ 0.47. This is because this is both the 0.618 fibonacci retracement level of the second portion of the downward movement, as well as an old support area.

The current upward move was preceded by considerable bullish divergences in the daily RSI. The MACD, RSI and Stochastic Oscillator are all higher, supporting a possible bullish continuity.

A bullish cross in the Stochastic Oscillator and the RSI moving above 50 would likely signal a trend reversal.

This entry was posted on 14. January 2021, in Bitcoin.