Sebi proposes to allow FPIs to participate in commodity derivatives market - cyptoranking.com

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2024-05-04

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In scams, the person would often remind potential victims about huge winnings, and what they could do with the huge sum. If a victim is hesitant about investing huge amounts of money, the scammer will convince them that more can be raked if the initial investment is already hefty. This popular scam technique takes advantage of one’s innate greed and desensitizes the victim to invest amounts they are initially uncomfortable with losing. In addition, the Dutch government has introduced a licensing system for cryptocurrency service providers, including exchanges and wallet providers. This licensing system, overseen by the Dutch Central Bank, ensures that these entities comply with strict anti-money laundering (AML) and know-your-customer (KYC) requirements. It not only adds a layer of security for users but also reinforces the government’s commitment to maintaining a transparent and compliant crypto ecosystem. Sebi proposes to allow FPIs to participate in commodity derivatives marketWeb3 is the most trending topic of today, and it is also known as the Semantic Web. Following Web2, the third generation depends on complicated software and artificial intelligence (AI) to run the web. Web3 aspires to provide a trustworthy and data-driven UI that caters to every user. Blockchain, metaverse, and Semantic Web are expected to be leveraged through Web3. CloneX

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Yyctrader falls victim to a phishing scam, losing 22 ETH via Friend.tech Wallet. ILV Token’s Features: Licensing the activity of cryptocurrency exchange in USAThe excitement around her testimony was palpable in the press corps. Reporters began arriving at the Daniel P. Moynihan federal courthouse well before sunrise for a chance to see Ellison in person.Crypto Tax: Consensys Requests Two Critical Modifications to IRS “Many investors are now just waiting for pure exposure via spot ETFs instead of investing in futures ETFs,” she told Blockworks. “There are now hopes that we could see a spot bitcoin ETF approved much sooner than earlier anticipated. The debut of ether spot ETFs would not be far behind.”

Alongside aforementioned partnerships with gaming platforms, the house entered Web3 in 2021 with the auction of its first NFT via Christie’s. It has since partnered with native NFT communities, including 10KTF via its Gucci Vault platform. Warbler Labs said it will backstop all losses to investors in the pool. Bankrupt FTX starts talks to revive its defunct crypto exchangeLido hoped to draw Arbitrum grant funding with the allure of bringing its behemoth staked ether product to the layer-2. But so far, the Arbitrum governance community is almost evenly split. The Bitcoin mining industry witnessed a diverse range of results in September, with Marathon Digital, Riot Platforms, and CleanSpark standing out with significant production increases, bolstering their share prices and reinforcing their positions in the crypto-mining market.Bitcoin miners Marathon, Riot, CleanSpark increase BTC output in September

The cryptocurrencies accessible for mining via cloud mining contracts differ between companies. Among the most regularly mined cryptocurrencies are Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), and Dash (DASH). The coin chosen is determined by the cloud mining operator and the contracts they give. As outlined in the post, the Bancor Network, a permissionless protocol that caters to open-source DeFi protocols, has seen a notable rise in its network metrics. This spans across high transaction volumes, active addresses, network growth, whale transactions, exchange inflows, and age destroyed (Consumed). This could be a predecessor to a rise in the BNT price. north american derivatives exchangeBacked Finance, a Swiss-based company that is looking to bring real-world assets on-chain, has issued blB01, a tokenized short-term US treasury bond ETF on Base, Coinbase’s layer-2 network. Bitcoin (BTC) managed to stay above the $26,000 level even as the S&P 500 tumbled to a three-month low and the U.S. Dollar Index (DXY) rose to a new year-to-date high. This is a mildly positive sign, as it shows a lack of aggressive selling at lower levels.Bitcoin remains stuck inside a range, and the directionless price action has kept the traders on the sidelines. Bitcoin’s daily spot exchange transactions topped 600,000 in March but dwindled down to 8,00015,000 last week, according to new research from on-chain analytics platform CryptoQuant. Low liquidity could lead to volatile moves in either direction, hence traders should be careful and wait for confirmations rather than taking positions on every intraday breakout.Daily cryptocurrency market performance. Source: Coin360The near-term price action remains uncertain, but that has not deterred the long-term bulls from adding Bitcoin to their portfolio. MicroStrategy co-founder and executive chairman Michael Saylor announced on X (formerly Twitter) that the firm had acquired 5,445 BTC at an average price of $27,053 per Bitcoin.Could Bitcoin and select altcoins start a short-term up-move? Let’s study the charts of the top 10 cryptocurrencies to find out.Bitcoin price analysisBitcoin is witnessing a tough battle between the bulls and the bears near the 20-day exponential moving average (EMA) ($26,436). The bulls pushed the price above the 20-day EMA on Sept. 27 but could not clear the 50-day simple moving average (SMA) ($26,757).BTC/USDT daily chart. Source: TradingViewThis indicates that the bears have not given up and are selling the rallies to the 50-day SMA. The bears will have to pull the price below $25,990 to clear the path for a potential fall to $24,800. This level is likely to attract solid buying by the bulls.On the upside, the first sign of strength will be a break and close above the 50-day SMA. The BTC/USDT pair may then rise to $27,500 and subsequently to the overhead resistance at $28,143. The bears are expected to defend this level with all their might.Ether price analysisEther (ETH) is trying to start a recovery. The price rose above the 20-day EMA ($1,614) on Sept. 27, but the bulls could not hold on to the intraday rally. This shows that the higher levels continue to attract sellers.ETH/USDT daily chart. Source: TradingViewThe bullish divergence on the relative strength index (RSI) favors the buyers. If they retain the price above the 20-day EMA, the ETH/USDT pair could first rise to the 50-day SMA ($1,668) and thereafter attempt a rally to the overhead resistance at $1,746.Contrary to this assumption, if the price remains below the 20-day EMA, it will suggest that the bears are in command. The sellers will then try to yank the price below the important support at $1,531. If that happens, the pair may crash to $1,368.BNB price analysisBNB (BNB) remains below the breakdown level of $220, but a positive sign is that the bulls have not allowed the price to slip below $203.BNB/USDT daily chart. Source: TradingViewThe 20-day EMA ($213) is flattening out and the RSI is just below the midpoint, indicating a balance between supply and demand. This equilibrium will tilt in favor of the bulls if they kick the price above $220. The BNB/USDT pair could then ascend to $235.On the contrary, if the price continues lower and breaks below $203, it will signal that the bears have asserted their supremacy. The pair may then start the next leg of the downtrend to the strong support at $183.XRP price analysisBuyers tried to thrust XRP (XRP) above the 20-day EMA ($0.50) on Sept. 25, but the bears held their ground.XRP/USDT daily chart. Source: TradingViewThe price action of the past few days has formed a symmetrical triangle pattern, indicating indecision between the bulls and the bears. Sellers will try to gain the upper hand by dragging the price below the uptrend line. If they are successful, the XRP/USDT pair may descend to $0.46 and then to $0.41.Contrarily, if the price rises and breaks above the resistance line, it will indicate that bulls are trying to seize control. The pair may then climb to the overhead resistance at $0.56.Cardano price analysisCardano’s ADA (ADA) bounced off the vital support at $0.24 on Sept. 25, but the bulls are struggling to push the price above the 20-day EMA. This may result in more selling.ADA/USDT daily chart. Source: TradingViewThe $0.24 level will likely witness a tough battle between the bulls and the bears. If the $0.24 support gives way, the ADA/USDT pair will complete a bearish descending triangle pattern. The pair may then start a downward move to $0.22 and subsequently to the pattern target of $0.19.Contrary to this assumption, if the price rises and breaks above the downtrend line, it will invalidate the bearish setup. The pair may then start an up-move to $0.29.Dogecoin price analysisThe bears pulled Dogecoin (DOGE) below the $0.06 support on Sept. 26, but the long tail on the candlestick shows buying at lower levels.DOGE/USDT daily chart. Source: TradingViewHowever, the gradually downsloping 20-day EMA ($0.06) and the RSI in the negative territory indicate that bears remain in command. Sellers will make another attempt to sink and sustain the price below $0.06. If they can pull it off, the DOGE/USDT pair may plummet to the next significant support at $0.055.Alternatively, if the price turns up from the current level and rises above the 20-day EMA, it will signal that the bulls are on a comeback. The pair could first rally to $0.07 and thereafter dash toward $0.08.Solana price analysisThe failure of the bulls to propel Solana’s SOL (SOL) above the 20-day EMA ($19.42) in the past few days shows that the bears are aggressively protecting the level.SOL/USDT daily chart. Source: TradingViewThe price has turned down from the 20-day EMA, and the bears will try to build upon their advantage by pulling the SOL/USDT pair below the nearest support at $18.50. If this level cracks, the selling could pick up, and the next stop is likely to be $17.33.On the contrary, if the price bounces off $18.50, it will suggest buying on dips. The bulls will then again try to shove the price above the moving averages. If they do that, the pair may jump to $22.30.Related: Bitcoin price to $30K in October, says analyst as BTC price climbs 2%Toncoin price analysisToncoin (TON) has dropped to the 20-day EMA ($2.11), which is an important level to keep an eye on. In an uptrend, buyers generally buy the dips to the 20-day EMA. TON/USDT daily chart. Source: TradingViewHere too, the bulls purchased the fall to the 20-day EMA on Sept. 27, but the long wick on the candlestick shows that the bears are selling at higher levels. If buyers maintain the price above the 20-day EMA, the TON/USDT pair will attempt a rally to the 61.8% Fibonacci retracement level of $2.40.Meanwhile, sellers are likely to have other plans. They will try to yank the price below $2.07 and extend the correction to the next major support at the 50-day SMA ($1.76).Polkadot price analysisPolkadot’s DOT (DOT) has remained stuck below the 20-day EMA ($4.10) for the past several days, suggesting that the bears are fiercely defending the level.DOT/USDT daily chart. Source: TradingViewThe RSI is showing signs of forming a bullish divergence, but the buyers will have to clear the overhead hurdle at $4.22 to reduce the selling pressure. If that does not happen, the risk of a further fall remains.If the DOT/USDT pair continues lower and skids below the immediate support at $3.91, it will indicate the start of the next leg of the downtrend. The next support on the downside is at $3.58.Polygon price analysisPolygon’s MATIC (MATIC) bounced off the critical support at $0.51 on Sept. 25, but the bulls could not push the price above the 20-day EMA ($0.53). MATIC/USDT daily chart. Source: TradingViewThis suggests that the sentiment remains negative, and traders are selling on rallies. The bears will try to sink the price below the Sept. 11 intraday low of $0.49. A collapse of this support will indicate the resumption of the downtrend.A minor ray of hope for the bulls is that the RSI is forming a bullish divergence. Buyers will have to drive and sustain the price above the 20-day EMA to signal the start of a sustained recovery. The MATIC/USDT pair could then rally to the 50-day SMA ($0.56).This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.


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