Obwohl sich der Bitcoin-Kurs nicht in den höheren Regionen halten kann, dürfte eine anhaltende Verknappung bald wieder für steigende Kurse sorgen.
Pictet exec: Today’s crypto has ‘no place’ in private banking
Pictet Group’s Asia division CEO Tee Fong Seng said at a summit that while the crypto asset class continues to mature, now might not be the time for private bankers to invest in the sector.
Crypto is an industry that is here to stay, even as part of its growing pains remains glaringly scary for some players. Matters are indeed not helped by the recent events that have seen several crypto companies go bankrupt, and wild volatility does not help either.
Because of such concerns, Swiss wealth manager the Pictet Group is warning that this might not be the time to dive into crypto – at least not for now.
Crypto asset class can’t be ignored – but,
In remarks made at a panel on the sidelines of a Bloomberg summit in Asia, an executive of Swiss firm Pictet highlighted why the asset manager is not keen on getting into crypto.
According to Tee Fong Seng, the CEO of Pictet’s Asia subsidiary, crypto’s growth as an asset class cannot be undone nor can it be “ignored” going forward. However, the company believes that crypto as it is – with some of the concerns above- does not have ‘a place’ in the private banking sector.
“Crypto will be an asset class that we cannot ignore, but today I don’t think there is a place for private bankers and for private bank portfolios,” he said.
But despite this outlook, the firm, like many others, appears to be keenly monitoring developments in the crypto market. For clients, this means looking at when to start offering services such as trading.
He notes that a look at the crypto market’s performance over the past two years shows it’s possible to “make a lot of money.” But at the same time, with the huge volatility, it’s also very easy to “lose a lot of money,” he observed.
“The question is, when do we bring the clients into the picture,” he posed as he pointed out that the Geneva-based asset manager had a team on the lookout for opportunities.
Concerns aside, mainstream companies push into crypto
A few years back, the best that came from financial institutions and other major mainstream companies was a blatant dismissal of crypto.
Many continue to sit on the fence, but many more have made a move – more so amid crypto’s last bull market. Today, global giants such as Fidelity Investments, BlackRock, Charles Schwab and Julius Baer Group have ventured into digital asset products – including crypto-focused exchange-traded funds, custody services and even trading to their clients.
The partnership between Coinbase and BlackRock announced today, and which targets institutional clients, is a good example of the increased interest for crypto exposure.
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Börsenaufsicht der Philippinen warnt Anleger vor Nutzung von Binance
Die SEC der Philippinen spricht sich deutlich gegen eine Nutzung der Binance und für einen Schutz der Anleger der Plattform aus.
Japan: Lobbygruppen wollen Krypto-Steuer für Privatanleger auf 20 Prozent reduzieren
Mit steuerlichen Änderungen wollen die beiden größten japanischen Krypto-Lobbygruppen für eine breitere Adoption sorgen.
Band Protocol price outlook as DeFi industry rebounds
Band Protocol price has tilted upwards as the decentralized finance (DeFi) industry rebounds. Its token, BAND, rose to a high of $1.7180, which was about 45% above the lowest level in 2022. Its total market cap has risen to over $71 million, making it the 345th biggest coin in the world.
Why is Band Protocol rising?
Band Protocol is a blockchain project that operates in the smart oracle industry. It is mostly used by developers who are building decentralized finance protocols.
Like Chainlink, it is used to provide data in the off-chain market to the on-chain. For example, a builder creating an app to trade stocks can use Band to get this data in an easy way.
Band Protocol is used widely. For example, it is used to provide off-chain cryptocurrency data to platforms like Loopring, Kyber Network, and Cream Finance. Other platforms that use Band Protocol are Homora, Injective, and dForce among others.
Band Protocol is the fifth oracle provider in the industry. Chainlink is the biggest player in the sector followed by Maker, WinkLink, and Pyth. Other notable players in the oracle industry are TWAP, Internal, DIA, and Flux.
Like other providers in the industry, BAND price has struggled in the past few months because of the weak performance of the DeFi industry. Indeed, the total value locked (TVL) in the sector crashed from over $250 billion to less than $70 billion. This crash happened after the meltdown of the Terra ecosystem.
Now, Band Protocol price is rising as investors react to the rebound of the sector. For example, the TVL has risen to over $90 billion. Its total value secured (TVS) has risen to over $539 million.
Many investors believe that the sector recently went through a stress test as volume disappeared. Most of these platforms have survived this test while centralized companies struggled.
Band Protocol price prediction
The four-hour chart shows that the BAND price has been in a strong slow bullish trend in the past few days. As a result, the coin has risen from the YTD low of $1.1870 to the current $1.7170. The coin has moved slightly above the 25-day and 50-day moving averages while the MACD has moved above the neutral point.
Therefore, there is a likelihood that the coin will continue rising as investors target the next key resistance at $2. A drop below the support at $1.5630 will invalidate the bullish view.
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