Kategorie: Crypto Markets

• MicroStrategy CEO Michael Saylor also noted the same thing during an earlier interview.

• The company’s shares have plunged alongside the rout in crypto and stocks, currently trading -35% year-to-date.  

MicroStrategy will buy more Bitcoin and does not plan to sell any from its current haul, according to the US-based software intelligence company’s Chief Financial Officer.

This is the company’s plan for investing in cryptocurrency, and will continue to be the case despite the current market outlook, Phong Le told the Wall Street Journal.

Bitcoin price reached highs of $69,000 in November but corrected sharply this month to plummet to lows of $33,000 on Monday.

Although the flagship digital asset has recovered 8% on the day to currently around $36,750, the sell-off pressure remains even as US Federal Reserve looks to hike interest rates and geopolitical tensions in Russia/Ukraine mount.

The negative sentiment cropping from these factors continues to weigh on investors in the stock market, with a cascade effect likely to be felt in the crypto market.

Despite the bearish outlook for the broader crypto market, MicroStrategy isn’t swaying from its strategy, the CFO added.

“To the extent we have excess cash flows or we find other ways to raise money, we continue to put it into Bitcoin,” Le told the WSJ.

MicroStrategy holds close to 125, 000 bitcoins, bought at an average price of $30,159.

Apart from adding to its BTC haul, the company is also eyeing new investments in the Bitcoin-backed bond market. Le said that the publicly traded company will venture into this market probably by 2023, although that would depend on liquidity in the market.

The diversification is part of the firm’s constant hunt for other investment opportunities that would contribute to the shareholder gains in Bitcoin.

Le’s comments come days after MicroStrategy CEO Michael Saylor said in an interview that the company wasn’t prepared to sell any of its Bitcoin. They also come after the company’s stock fell sharply on Monday.

The decline had pushed the stock’s overall losses since Friday to 30%, aligning it with the bloodbath witnessed in crypto and tech stocks. The shares are 35% down year-to-date, with a similar outlook for other crypto-centric companies.

The recent declines came as it was revealed that the US Securities and Exchange Commission (SEC) had rejected MicroStrategy’s non-GAAP accounting measures. This relates to the company’s decision to adjust for BTC impairment losses, which they said would clearly reflect on the software firm’s finances.

After the SEC’s disapproval, the firm noted it would make necessary revisions in future earnings reports, which should probably reflect in its Q4 earnings results on 1 February.

The post MicroStrategy will keep buying and holding Bitcoin, says the firm’s CFO appeared first on Coin Journal.

The Cosmos native crypto (ATOM) has surged by more than 17% in the last 24 hours; a time when all the major cryptocurrencies like Ethereum and Bitcoin have nosedived although they are now turning green as they try to correct.

Cosmos is currently at $36.08 with a trading volume of $3.9 billion and is up. If it continues with the current bullish trend, it might set a new all-time high within the first quarter of 2022.

What is Cosmos (ATOM)?

Cosmos is simply a project that solves the problems facing the blockchain industry to make blockchain technology less difficult and complex for decentralized apps developers.

ATOM is the native token of the Cosmos blockchain network.

Why the ATOM price is rallying

The current ATOM rally is highly attributed to the recent announcement by the market cap on Twitter saying that it will share IBC integrated tokens on the Cosmos network. Currently, Terra has already dominated this market with 49.6%.

Market Cap Share of IBC Integrated Tokens on Cosmos Network

🌖 Terra has currently dominated this market with 49.6%$LUNA $ATOM $CRO $OSMO $ROSE $RUNE $SCRT$JUNO $KAVA $AKASH $IRIS $COMDEX pic.twitter.com/Fo4qKEtwh8

— Terra Daily 🌖 (@TerraLUNADaily) January 25, 2022

ATOM is expected to shoot to the moon after the Terra market domination. However, when ATOM hit an all-time of $44.8 on 20th September, it started a phase that ended at $20.18 in December and since then it has continued to rise.

With the failed January 7 and 17 breakout attempts, the bulls started an inverted head and shoulder breakout on January 1st and the altcoin hit a five-week high of 79.61% ROI from its 29th December low.

The bears maintained their 43.6% Fibonacci support as the bulls continued to defend the 23.6% support level which they later lost by 38.2% in the recent sell-off, during the sell-off ATOM lost 35.6% of its worth, although they recaptured 38.2% from the growing selling effect.

There was a bearish bias after RSI formed the downward channel due to the resistance near the midline which led the MACD’s histogram to discover a closing equilibrium that favored the sellers.

The post Here is why Cosmos (ATOM) Price is rallying appeared first on Coin Journal.

Ooki is a decentralized protocol for margin trading, borrowing, lending and staking. It enables developments of dApps for lenders, borrowers, and traders. It has added 29% to its value in the last 24 hours. 

This article has everything you need to know about Ooki Protocol, including where to buy the Ooki token.  

Top places to buy OOKI now

As OOKI is such a new asset, it’s yet to be listed on major exchanges. You can still purchase OOKI using a DEX (decentralised exchange) though, which just means there are a few extra steps. To buy OOKI right now, follow these steps:

1. Buy ETH on a regulated exchange or broker, like eToro ›

We suggest eToro because it’s one of the world’s leading multi-asset trading platforms, an exchange and wallet all-in-one with some of the lowest fees in the industry. It’s also beginner-friendly, and has more payment methods available to users than any other available service.

2. Send your ETH to a compatible wallet like Trust Wallet or MetaMask

You’ll need to create your wallet, grab your address, and send your coins there.

3. Connect your wallet to the Uniswap DEX

Head to Uniswap, and ‚connect‘ your wallet to it.

4. You can now swap your ETH for OOKI

Now that you’re connected, you’ll be able to swap for 100s of coins including OOKI.

What is OOKI?

OOKI is a community-run project, governed by the community vote for all major changes to the protocol. It makes it possible for users to interact with the most flexible decentralized finance protocol on multiple blockchains.

The OOKI token allows the Ooki community to govern the protocol through staking OOKI token and voting in the Ooki DAO. OOKI token holders receive a portion of protocol revenue.

50% of fees generated by the protocol are distributed to OOKI stakers. The remaining 50% of fees are allocated to the insurance fund and Ooki treasury.

Ooki Protocol provides four primary services to it’s users: leveraged margin trading, borrowing, lending, and staking. Trading is at the core of Ooki Protocol. Users can easily open long or short leveraged trading positions at fixed interest borrowing rates.

Ooki protocol also allows users to borrow funds with collateral and lend funds to earn interest. A unique feature of Ooki protocol is the existence of fixed rates of interest on borrowed funds.

Should I buy OOKI today?

Ooki can be a lucrative investment, but take the time to study the market and read analyses of its prospective price trajectory. Take all investment advice with a grain of salt.   

OOKI price prediction

Price Prediction is moderately bullish on Ooki. They predict it will trade for at least $0.014 at the end of this year. In 2023, the price of Ooki Protocol is expected to reach a minimum of $0.021 and a maximum of $0.025 with the average price of $0.021 throughout the year.   

OOKI on social media

Top 5 noticeable movers:#KNC #ANT #UNFI #OOKI #DIA

🟢 $KNC $1.589 (17.27%)
🟢 $ANT $5.189 (20.53%)
🟢 $UNFI $6.115 (28.98%)
🟢 $OOKI $0.01292 (29.46%)
🟢 $DIA $1.158 (40.70%)

Do you #hodl any of these coins?

— Crypto Whispers (@crypto_whispers) January 25, 2022

 

The post You can now buy OOKI, the token of an innovative decentralized protocol: here’s where appeared first on Coin Journal.

Lloyd Blankfein says crypto has benefited from trillions of dollars in investment and that though he remains skeptical, he’s practical about crypto’s potential.

Crypto has matured to a point it’s attracting trillions of dollars from institutional investors, pushing the burgeoning sector towards greater adoption.

That certainly is the view of former Goldman Sachs CEO Lloyd Blankfein, who was commenting on the current state of the crypto market during an interview with CNBC on Monday.

Blankfein says his view of cryptocurrencies might not have changed drastically since the early years of the pioneer crypto Bitcoin. However, he holds a pragmatic view and acknowledges the evolution that has happened across the space in the last couple of years.

This, even as the current market scenario leaves most digital assets badly battered.

The ex-Goldman executive t revisited the early days of mobile phone development and how skeptical people were of the technology. But he says the tech did work, noting:

“I can’t predict the future, but I think it’s a big thing to be able to predict the present. Like, ‘What is happening?’ And I look at the crypto, and it is happening,” he explained.

According to Blankfein, what he terms as “happening” relates to the staggering growth seen within the crypto ecosystem. He looks at the amounts of money coming into the ecosystem from mainstream investors, including major Wall Street banks, as an indicator of growth.

The banker noted that despite the crypto winter that has seen Bitcoin and other crypto assets decimated in the market; the “trillions of dollars of value” in the space should see the ecosystems around it continue to grow.

He also talked about blockchain technology benefits such as instantaneous transfer of value and reduction of credit risk as positives that contribute to the increased adoption of crypto.

About his personal take, Blankfein said he’s still skeptical but that doesn’t mean that he cannot be pragmatic about it.

“I may be skeptical, but I’m also pragmatic about it. And so guess what? I would certainly want to have an oar in that water,” he concluded.

Blankfein’s remarks come at a time crypto has seen billions of dollars worth of value wiped off the market amid a brutal correction.

Bitcoin slipped to lows of $33,064 earlier on Monday before recovering to trade above $35,000 at the time of writing. The cryptocurrency is down over 16% this week and more than 48% since its all-time high in December.

The post Ex-Goldman Sachs CEO: I can’t predict the future but ‘crypto is happening’ appeared first on Coin Journal.

Jane Street actively trades global equities, exchange-traded funds (ETFs), bonds, and options.

Global market maker and trading firm Jane Street Group, whose growing footprint across Wall Street has come amid a massive growth in the market, says it sees more adoption across the crypto trading space.

The firm, according to Bloomberg, says cryptocurrency trading offers a “clear growth area”, citing the company’s increased number of traders now into crypto.

Turner Batty, one of the firm’s founding traders, the last sixteen months has seen dozens of employees around the world focus on crypto trading. While the number is still relatively small compared to those at Wall Street rivals, Jane Street says related fields like tax and accounting are seeing a jump in dedicated staff.

The liquidity provider says demand from institutional investors has been growing, despite Bitcoin and other crypto-assets seeing their worst bloodbath since May last year.

The firm’s Head of Institutional Strategy Mina Nguyen told Bloomberg that the platform had recorded a steady jump in inquiries. 

They range from established asset managers, sovereign wealth funds, endowments, and private wealth institutions, Nguyen added.

According to him, these growing groups of investors are being driven by the need to be well-positioned in case the crypto regulatory climate in the US becomes clearer. He noted that some, like sovereign wealth funds, have shown interest in getting direct exposure to cryptocurrencies.

Jane Street’s growing reputation comes from its active trading of global equities, corporate bonds, exchange-traded funds (ETFs), and options. 

The firm highlights on its website that it is actively involved in more than 5,000 ETFs across the globe. It also leverages cutting-edge technology to avail its order-book liquidity in 45 countries worldwide.

Crypto is thus a critical sector to venture into, given the spike in trading interest in the sector even as volatility decimates bulls after a stellar 2021. 

Other than digital asset trading, the New-York based platform is reportedly eyeing opportunities in the decentralised finance exchange niche.

One of Jane Street’s partners is Robinhood Markets LLC.

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