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Litecoin [LTC] Could Destroy Resistance At $95 As Ongoing Bull Run Bolsters The Market

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Bitcoin’s journey to $22K left the entire world stupefied. The king coin made sure to take all the other coins, reserving special tickets for Litecoin [LTC], XRP as well as Ethereum [ETH]. Bitcoin [BTC] was almost unstoppable as the coin seemed to be stuck on hitting $23K. At press time, BTC was trading for $22,905.01 with an 18% rise. XRP seemed to be eyeing $1 as the altcoin was soaring by 23.01% over the last 24-hours. The global crypto market cap was also on a roll and was in sync with the ongoing sentiment. With a 13.91% daily increase, the overall market cap of the crypto-verse was noted at $643.45 billion.

Litecoin seemed to be closely following the footsteps of the king coin. LTC, at the time of writing, was priced at $94.14 with a 17.19% surge over the last 24-hours. Throughout the year, the coin was seen all the way down at the tenth position several times, however, the coin regained stature and rose up to the fifth place with a market cap of $6.15 billion.

Litecoin [LTC] One Hour Price Chart

Litecoin

$94 and $95 have been strong resistance lines for LTC, however, the ongoing bull run could help the altcoin break the latter. The pattern formed in the one hour price chart of the asset was pointing at the bulls. The ascending triangle pattern was identified by higher highs at $83.61, $91.17, and $94.81. Higher lows laid down the lower trend line at $81.66, $91.23 as well as $92.42. The direction of a breakout with the aforementioned pattern is usually upwards.

The daily moving average was seen grazing with the bulls as the 50 daily moving average [blue] was above the 100 daily moving average [orange]. This crossover usually indicates the presence of bulls in the LTC market.

Litecoin [LTC] With Key Indicators

Litecoin

All the signs were pointing at bulls for Litecoin. The key indicators used in the one hour chart of LTC were seen taking the side of the bulls. The Bollinger Bands indicator was seen wide apart, yet the bands were diverging which could indicate a decrease in volatility. The Awesome Oscillator indicator formed a green closing bar which suggested the presence of bulls in the LTC market.

Chainlink Marine Pleads Vitalik Buterin To Be His Santa After Losing LINK Worth $53K

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Steering away from the usual payment methods, several individuals have been incorporating crypto into their systems. Chainlink, Bitcoin, Ether, and several other crypto assets have been widely used for making payments. While this does not come off as news to many, certain glitches and absent-mindedness could lead to the loss of funds. The story of a LINK marine and GitHub user dawidkabani13 has several staying alert while making transfers.

Chainlink Worth $13K To Those Who Help Resolve The Issue

In an elaborate GitHub post, the user dawidkabani13 revealed that he had sent a total of 4,005 Chainlink [LINK] that was worth about $50K by mistake to a smart contract, Aavegotchi [GHST] on the Ethereum blockchain. After carrying this accidental transaction out, the LINK marine figured that Aavegotchi did support the asset and the funds once delivered were not reversible as the contract was immutable. In the post, Dawid pointed out that his entire life savings were abandoned due to his mistake and went on to offer a whopping 1000 LINK worth $13K to anyone who could help solve the issue.

Dawid’s GitHub post further read,

“I’m just recovering from a terrible loss, I’m a father and husband, and a few days ago I lost my life savings due to one small mistake and rush. I don’t want to bother you with my problems, so I’ll go to the details. I accidentally sent 4,000 LINK worth $ 50k to the Ghst Stacking smart contract that does not support the LINK cryptocurrency chain.”

Aavegotchi, in its recent Community Update, addressed Dawid’s issue and revealed that the process was irretrievable. But paying heed to goodwill, the platform encouraged its users to help Dawid out through its donation page. The crypto firm had set up, SantaGotchi.eth, and a total of $1,232.35 worth of Ether was sent to the wallet.

Dawid even reached out to Nick Mudge, the author of the smart contract. Mudge urged his Twitter followers to come up with a solution to the problem. While a Twitter user suggested that Vitalik Buterin, the co-founder of Ethereum could hard fork and reverse the transaction. Mudge and Dawid both urged Buterin through Twitter to do so. The tweets read,

 

Chainlink

Hong Kong Regulators Give Fidelity-Backed Digital Asset Platform A Green Signal

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Seeking approval from financial regulators has become one of the biggest problems of the crypto industry. Hong Kong has been working towards regulating crypto platforms and even put in place laws to keep them in check. As a result of this, the crypto platforms operating in Hong Kong are mandated to have a license.  Abiding by these laws, a prominent digital asset firm, OSL had previously sought a license from the Securities and Futures Commission of Hong Kong.

Hong Kong Mandates The Need Of License For Crypto Platforms

In a recent announcement, OSL revealed that it would deliver its digital asset services to the corridors of Hong Kong. The platform is a part of BC Group which is backed by Fidelity. The Securities and Futures Commission [SFC] got an application for a license from OSL back in November and was the first to apply for a crypto license in the region. While the SFC gave the platform a thumbs-up back in August 2020, OSL reportedly brushed up on all the requirements that the SFC had asked for.

With this license, OSL can deliver an array of digital asset-related services to the citizens of Hong Kong. The platform is all set to open up trading for prominent cryptocurrencies like Bitcoin [BTC], Ethereum [ETH] along with several other assets. OSL Digital Securities will also allow users to avail select security token offerings [STOs].

The world seems to be coming to terms with the fact that the institutional interest has been zooming towards Bitcoin and other assets. Elaborating on the same, Wayne Trench, the CEO of OSL said,

“Institutions, and other professional investors, including HNWIs and family offices, can now trade digital assets with the region’s most comprehensive and trusted digital asset platform in OSL. Because the framework is under the auspices of a leading global regulator and modeled after existing licensing for financial services, clients can trade with confidence under the protections and safeguards to which they are accustomed.”

Regulators have been upping their game following the emergence of a number of crypto platforms. Digital asset platforms are making sure to comply with the laws put forth by regulators across the globe. OSL went a step ahead as the digital asset platform revealed that it had applied for a digital asset license under the Payments Services Act from the Monetary Authority of Singapore [MAS].

The latest license acquired by the OSL from the SFC makes the digital asset platform the first firm to attain a license from the SFC.

Cardano [ADA] Takes A Stroll In The Bearish Territory

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The crypto market was ecstatic after Bitcoin once again zoomed past $19K. Certain coins like Cardano [ADA], Bitcoin Cash [BCH] as well as Binance Coin [BNB] were in sync with the price movement of the king coin as they were seen surging. A few other currencies, like XRP and Ethereum [ETH], were seen hibernating with the bears. The fairly new cryptocurrency, Polkadot [DOT] was the star of the show with a 4% surge over the past 24-hours.

During the time of writing, Cardano was trading for $0.153 with a dainty change in its price. Over the course of the last seven days, ADA had managed to bag gains up to 2.47%. The market cap of the coin was at $4.77 billion this further allowed the coin to prolong its stay as the eighth largest coin. 

Cardano [ADA] One Hour Price Chart

Cardano [ADA]

The one hour price chart of ADA had formed two diverging lines further laying out an ascending triangle pattern. The pattern was identified by higher highs at $0.1503, $0.1572 as well as $0.160 forming the upper trend line. This was followed by a lower trend line with higher lows at $0.134, $0.142, and $0.149. The formation of the aforementioned pattern insinuated a breakout in the upward direction.

This bullish pattern was further affirmed by the daily moving average indicator. The 50 daily moving average [Blue] remained above the 100 daily moving average [Orange] for a long time now. The indicator revealed the strong presence of bulls with this crossover.

 Cardano [ADA] Price Chart With Indicators

Cardano [ADA]

 

The Cardano market was seen as a battleground between the bulls and the bears. With both these parties fighting the uncertainty of the fate of ADA grew stronger. While the ascending triangle pattern and the daily moving average indicator affirmed the presence of bulls in the ADA market, the MACD indicator suggested otherwise. The MACD line was seen resting below the signal line which was a bearish crossover. This crossover took place earlier today and indicated the evasion of bears in the market. The Bollinger Bands indicator was seen diverging which further hinted at an increase in volatility.

Grayscale Creates New Record While Its Litecoin product Secures Third-Spot

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Litecoin [LTC] has seen some handsome gains over the past several weeks. Thanks to the continued bullish momentum, the cryptocurrency has now climbed to be the third-largest spot with respect to crypto holding by Grayscale Investments, which happens to be the world’s leading crypto asset management.

Grayscale Litecoin Trust’s  [LTCN] AUM was found to be at $74.8 million trailing behind Grayscale Bitcoin Trust [GBTC] at $10,821 million and Grayscale Ethereum Trust [ETHE] at $1,722 million. As LTCN steadily increased, it surpassed Grayscale Ethereum Classic Trust [ETCG] to secure the third position.

Litecoin Demonstrates Bullish Momentum As It Breaks Several Barriers

First launched in March, Grayscale Litecoin Trust became publicly available in August of this year. Prior to this only accredited investors were able to participate in it. Thanks to the price appreciation of the underlying cryptocurrency, LTCE scored massive investments’ inflow in the third quarter of the year, 1,800% to be specific.

This news comes a month after reports of Grayscale’s Litecoin Trust attracting massive capital inflows emerged. As noted above, the reason for this could be attributed to the positive price action of LTC/USD.  Litecoin has been on a bullish spree along with Bitcoin [BTC] and its peer altcoins this season. It surged all the way to the fifth spot on the cryptocurrency ladder blasting past Bitcoin Cash [BCH] as well Chainlink [LINK].

At the time of writing, LTC was being traded at $81.33.

Reportedly, Grayscale’s Litecoin Trust was found to be trading with a significant premium to spot prices. To top that, LTCN Premium recently scaled above 2300%. This level was recorded as the highest among the Grayscale products.

This positive momentum essentially indicated that market participants, investors, hedge funds, were eyeing to increase their LTC exposure.

Record For Grayscale

With this, Grayscale Investments has become the fastest growing asset manager. It has crossed a whopping $13 billion in assets under management [AUM] on the 15th of December. It has managed to add $1 billion worth of inflows in less than a month, benefiting from the revival of the cryptocurrency industry.

The platform had earlier reported that it had $12.1 million in AUM just a couple of days ago.

Barry Silbert, the CEO of Grayscale’s parent company Digital Currency Group, tweeted,

“Record AUM for Grayscale…$13 billion. Grayscale AUM on Nov 1: $7.6 billion Grayscale AUM today: $13.0 billion”

Kin Moves Over To Solana Blockchain After Seeing No Luck In Its Battle With The SEC

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The Securities and Exchange Commission [SEC]  of the United States has a significant influence on the crypto-verse. Kin, the cryptocurrency formulated by the social media platform, Kik has been a prominent example of SEC’s scrutiny over the industry. The SEC emerged as winners of the prolonged $100 million ICO lawsuit against Kik, while Kin also fell under the purview of the SEC, the social media platform decided to migrate to another blockchain.

Kin Accounts With More Than $1 To Be Prioritized During Migration

Kik had the time and again made it to the headlines following its legal battle with the SEC. After witnessing zero luck with the $100 million ICO lawsuit for selling securities in the country without registering with the required entity, the social media platform decided to take a different turn with its native cryptocurrency, Kin. This asset was rolled out by Kik as an Ethereum-based ERC-20 token. In a recent blog post, the developers of the crypto asset revealed that it was heading over to the Solana blockchain.

While Kin was prepping to take its 55 million accounts into the Solana blockchain, the developers labeled this as the “single largest migration in the history of crypto.” The migration was scheduled to take place on 14 December 2020 and the Solana team has reportedly been initiating several simulations of the migration over the last week. Detailing about the same, the post read,

“The most recent round of tests, coupled with the scheduled mainnet upgrade gave both of our teams the confidence to engage the migration beginning Tuesday, December 15th 2020. We have scheduled the official start time as 14:00 UTC (equivalent to 9AM EST as another reference).

Popularly known as a blockchain that aids DeFi apps as well as smart contracts, Solana was all set to accommodate the cryptocurrency, Kin. During the process of the migration, the accounts that hoard a balance of either $1 or more would be given the first preference. Those accounts that entail a balance below $1 would be migrated over the course of the next 2 weeks. This delay is due to the maintenance of stability during the migration process.

While the status of migration remains uncertain, the Kin Ecosystem posted the initiation of the process on Twitter. The tweet read,

Singapore’s Largest Bank To Roll Out Digital Asset Exchange

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Digital Assets are the new everything! Singapore seems to be the latest to jump onto the bandwagon as countries and financial institutions have been steering towards setting up digital asset friendly platforms. The largest bank in the Asian country recently revealed its interest in the crypto-verse. While both tradings of crypto and crypto exchanges are legal in Singapore, DBS revealed that it had joined hands with Singapore Exchange [SGX] to roll out a digital asset exchange.

Singapore Dwells Deep Into Crypto

The largest bank in the Asian country, DBS revealed that it would launch an exchange that focuses on digital assets. The bank sought support from the Singapore Exchange that would acquire a 10% stake in the yet to be launched digital exchange. The digital exchange would be called DBS Digital Exchange and will be made available by next week.

While the exchange has listed an array of assets that would be paired against yet again several fiat currencies, the DBS Digital Exchange will be limited to institutional as well as accredited investors only. Speaking about the same the Group CEO at DBS, Piyush Gupta pointed out that the digitalization of assets paves the way for an array of opportunities to reshape the markets. He further added,

“For Singapore to become even more competitive as a global financial hub, we have to prepare ourselves to welcome the mainstream adoption of digital assets and currency trading. DBS is committed to accelerating the development of a fully integrated ecosystem to facilitate this. We believe that this is the first of its kind integrated offering, which is differentiated in many ways.”

The DBS Digital Exchange would support crypto assets including, Bitcoin [BTC], Ethereum [ETH], Bitcoin Cash [BCH] along with fiat currencies, Singapore Dollar [SGD], US Dollar [USD], Hong Kong Dollar [HKD], and the Japanese Yen [JPY]. Along with this, the exchange will reportedly present its users with Security Token Offerings along with Digital Custody Services.

The announcement also revealed that the platform had garnered approval from the Monetary Authority of Singapore [MAS]. Elaborating on the 10% stake of the Singapore Stock Exchange (SGX), the CEO of SGX, Loh Boon Chye said that with its latest move, both the platforms hope to “bring trust and efficiency in price discovery to the global digital assets space.”

Cryptolocally launches Native Bitcoin Trading as Cryptocurrency Hype Reaches All-Time High

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The spread of Bitcoin trade has always been considered a pivotal factor in increasing the adoption rate among cryptocurrencies. With bull runs elevating the cryptocurrency’s status again, companies like Cryptolocally made sure that users could also partake in the hype.

According to an official release, Cryptolocally has now decided to add support for all Bitcoin native trades. These trades will be conducted in a safe and conducive environment where users get the power to forge their own cryptocurrency destiny.

Cryptolocally stated that the main USP of its native BTC platform was the support from several high-performance blockchains such as EOS, Ethereum, Tron and Binance. The excitement generated from the bull runs jolted the entire financial world with several major institutions now considering adoption. The addition of the Bitcoin native trading comes on the back of a previous update: integration of Binance chain-based Bitcoins BTC [BEP2]. BEP2 tokens are directly pegged to the price of Bitcoin with an option to withdraw from Binance.

Sources within Cryptolocally told TWJ that adding BTC on CryptoLocally is a feature that the community has been asking for since our platform launched. Recently, they expressed it publicly by posting and voting for the “listing BTC” proposal on our new governance portal: GIVernance. Now with BTC available for trading on CryptoLocally, users will be able to buy/sell BTC easily and safely with their local currency. Unlike other platforms, users don’t need to deposit BTC on CryptoLocally to complete a trade, they will receive/send the BTC directly to/from their personal wallet! An official Cryptolocally release stated:

“This [BTC native trade] will unlock the massive peer-to-peer market of Bitcoin translating to more users, more trades, and more volume. It will help accelerate word-of-mouth marketing, enhance the trading experience by its users with more available trade options, and increase the overall value of CryptoLocally.”

What makes the latest update even more special was the fact that the proposal was the first to pass the CryptoLocally GIVerenance governance model. Native Bitcoin trading was the first to be chosen because of its widespread popularity and acceptance rate compared to other cryptocurrencies. The GIV token was created so that users would be more involved in the day to day workings of the trading floor. Apart from creating a tightly knit community, using a native token also ensures privacy is maintained.

Users interested in trading Bitcoin will use Cryptolocally’s P2P escrows that help each and every trade. The steps involved in buying BTC follow the same path as other assets so that customers can conduct their business quickly. Being the first fully decentralized P2P exchange has its own advantages for Cryptolocally and it is a pattern that the company plans to emulate in the future as well. Bitcoin’s unprecedented rise to the top has inspired many to get into the field and features offered by Cryptolocally are sure to be a key highlight. If this bullish pattern keeps up, fans may be in for a treat over the next couple of months.

Chainlink [LINK] To Soon Be Reigned By The Bulls

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Not long ago, Bitcoin had taken every coin to the moon. However, at the time of writing several assets were seen enduring a slump. While Chainlink [LINK], Ethereum [ETH], and Bitcoin [BTC] were the least affected by the current downfall, few other coins like Bitcoin Cash [BCH], Cardano [ADA], and Polkadot [DOT] were seen dealing with significant losses.

At the time of writing, LINK was trading for $13.10 with a 1.25% dip in the last 24-hours. The coin had endured a major drop of 8.96% over the last seven days. The coin managed to retain its position as the seventh-largest cryptocurrency with a market cap of $5.165 billion.

Chainlink [LINK] One Hour Price Chart

Chainlink

Two converging lines were formed on the one-hour price chart of Chainlink [LINK]. The upper trend line was formulated by lower highs at $13.57, $13.22, and $13.19. This was followed by higher lows at $12.75, $12.88 as well as at $12.89. The pattern formed in this chart was further identified to be a pennant. While it embodied the characteristics of a symmetrical triangle pattern, the short term formation, as well as the depreciation in volume, affirmed the formation of a pennant. The direction of breakout during the formation of the aforementioned pattern is usually upwards.

The daily moving average indicator also pointed the coin towards the bulls. The 50 daily moving average [Blue] was reposing above the 100 daily moving average [Orange] in the one hour price chart. This crossover is usually bullish and the indicator was seen affirming the presence of bulls.

Chainlink [LINK] With Key Indicators

Chainlink

The key indicators used in the one-hour price chart of LINK revealed a perplexing notion. The Bollinger Bands indicators were seen slightly close to each other, however, it seemed like it was diverging. This further indicated that the LINK market was gearing up for an increase in volatility. The Awesome Oscillator indicator had seen recently breaking off from its recent green trend. The indicator that was siding the bulls had switched sides with the formation of a red closing bar.

Introducing Exchase.io: Use all popular Fintech services under one account

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Today, Exchase (Exchase OÜ) announced that it plans to build an all-in-one fintech solution that will bring the most popular fintech services and technologies under one umbrella. The Estonian based fintech company has been operating a cryptocurrency exchange, but now seeks to bring on board margin trading, token listing, crypto games, money transfer, binary options, social trading, crypto loans, a crypto wallet, a P2P exchange, and OTC trading services. Specifically, the revolutionary platform will have all these services under a single ecosystem, using a single user account.

Moreover, the platform will in future introduce novel cryptocurrency services such as cryptocurrency hedge fund, custody and staking to make it a comprehensive arena where clients can get all their crypto services.

To achieve this goal, Exchase:  

  • Launched its cryptocurrency exchange in November.
  • In January 2021, the company will obtain its cryptocurrency license, open its bank accounts, and link them to liquidity providers.
  • In March and April, the company will deploy Android version to Google and iOS to App store, respectively to facilitate native mobile apps.
  • The platform will then incorporate margin trading in April, binary options in May, crypto loans in June, social trading in July, and a crypto wallet in August.

Token Sale Information:

Exchase will release its ERC-20 token, the Exchase (EXSE), with a total supply of 200 000 000 EXSE. It will sell 1 000 000 EXSE for 0.0004 ETH, with a minimum contribution of 0.02 ETH. The acceptable currency will be ETH through the Ethereum smart contract. Presale of the token will commence on 15.12.2020 12.00 UTC and end on 25.12.2020 12.00 UTC.

Exchase is an Estonian trading platform that brings social trading, exchange services binary options, crypto exchange, and payment service under one ecosystem. Currently, it has launched its crypto exchange and plans to launch the remaining services in 2021.For more details about the platform, token sale and white paper click the links below:

MVP web: https://exchase.io

Tokensale web: https://token.exchase.top

White Paper: https://exchase.top/en/Exchase_WhitePaper_EN.pdf

Join Telegram community: https://t.me/ExchaseEnglish