Im Zuge von weitreichenden Finanzreformen nimmt Großbritannien auch die Kryptobranche ins Visier.
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Bitcoin-Kurs rutscht wegen neuen PPI-Daten auf 17.000 US-Dollar
Bitcoin kann die 17.000 US-Dollar-Marke verteidigen und hofft auf einen Schub durch die neuen VPI-Daten nächste Woche.
ApeCoin staking launches with a thud! Will bulls overcome relentless bears?
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ApeCoin gained 3% on Friday and remains green over the week
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ApeCoin will start to issue staking rewards on December 12
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The cryptocurrency faces resistance approaching the upper limit of descending channel
ApeCoin (APE/USD) staking functionality is no longer a dream – it’s a reality. Staking rewards are set to begin on December 12. Apes are making merry as the staking service launches with a thud, just like the APE airdrop.
ApeCoin staking launched on December 5, much to the excitement of its communities. In just one day after the launch of the staking feature, $32 million worth of APE was deposited in the staking contract. Stakers are now expecting the rewards in a few days, with 175 million APEs expected to be distributed in three years. The number represents around 17.5% of the total ApeCoin tokens in circulation. Will the staking feature launch boost the price of APE?
As CoinJournal previously reported, APE was gaining ahead of the staking service. The gains have cooled, in a typical buy the rumours, sell the news scenario. However, it is not that exactly, as APE had gained by an intraday of 3% as of press time. The cryptocurrency has remained at more than 2% in the past week. Will APE continue with the gains as the staking rewards trickle in? That will depend on the technical changes in APE price.
ApeCoin trapped in a descending channel amid a bullish push
On the daily chart, APE trades on the upper limit of the descending channel. The cryptocurrency has been trading at this level for weeks, with bulls getting rejected. The price action is, however, looking increasingly bullish, as shown by a continued push to break higher.
What to watch next for APE?
A breakout at the upper limit of the descending channel is the key event for ApeCoin next. The breakout will see APE price also overcome a crucial resistance at $4.2.
A breakout at the descending channel and $4.2 resistance will place APE for recovery to the next resistance at $5.0.
Where to buy APE
eToro
eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.
Nexo
Since 2018 Nexo has strived to bring professional financial services to the world of digital assets. Leveraging the best of the team’s years of experience in FinTech along with the power of blockchain technology, Nexo empowers millions of people to harness the value behind their crypto assets, shaping a new, better financial system.
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Crypto pundit thinks Ripple will lose against the SEC. Here is how XRP is behaving
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XRP has been trading at or slightly below the $0.4 resistance
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Gene Hoffman expects SEC to win the case against Ripple
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XRP awaits further triggers for a breakout or drop
Ripple (XRP/USD) is still in waiting mode. The cryptocurrency clings to the $0.4 resistance as if buyers are not sure if to break above. They are, however, relentless in letting bears take the price below this level. Who wins?
Of course, Ripple’s case with the SEC is a dilemma yet to be solved. Despite Ripple making small wins and many believing it will triumph against the regulator, a crypto pundit thinks otherwise. Gene Hoffman, the COO of Chia network blockchain company, expects SEC’s assertion that XRP is a security to hold.
Hoffman says that an excerpt from the summary judgement filing of the SEC supports the view. He says Bill Hinman, its ex-director of corporate finance, informed Ripple in 2019 that XRP was a security. Hoffman says apart from the Hinman statement; the court knows that people bought XRP expecting its value to surge. Consequently, the judge is likely to argue that Ripple’s sales of XRP made the token a security.
In further emphasis, Hoffman says there are no notable differences between the Ripple and LBRY Credits cases. In the latter, the regulator won. He asserts that SEC has never lost a case involving section 5 for a long time.
XRP holds to the $0.4 resistance
From the technical outlook, XRP’s trading depicts a wait-and-see approach. Bulls are holding to the $0.4 resistance hoping that Ripple’s case will go in their favour. That would see a breakout at the crucial level.
On the flip side, bears are also waiting for an opportune moment to crash XRP. That is shown by a shift of the RSI to below the midpoint, implying that bears are increasing at the resistance. It could also signify the exit of bulls at the crucial level.
Which way, XRP?
The next price action for XRP will depend on developments or speculations around the case with SEC. Investors should keep watch of the developments before buying XRP.
Where to buy XRP
eToro
eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.
OKX
OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.
The post Crypto pundit thinks Ripple will lose against the SEC. Here is how XRP is behaving appeared first on CoinJournal.