Have a nice and productive day for everyone, and for some of them, more recently, fruitful work on the "farm"! As always, I offer you a daily review of the market news:
BTC. The asset managed to break through the upper edge of the" symmetrical triangle", considered in yesterday's review. The price has overcome the dynamic resistance in the form of an exponential moving average of 50 EMA 4H. The upward momentum was stopped by the resistance block at $38,300, followed by a rollback of bitcoin to the area of 50 EMA 4H. There is a decrease in trading volumes with an increase in prices, which may indicate the exhaustion of buyers. Bitcoin is likely to pull back from the diagonal resistance line, followed by the consolidation of assets under the resistance level of $38,300, before the next attempt to take this area. A long-squeeze of belated long positions is possible through a decline to the $36,500 mark.
ETH. In the pair to BTC, the value of the asset has increased by 2% over the past 24 hours. The asset managed to close above the resistance level at $2,700, now it will act as the nearest support level
British banking giant Standard Chartered, in partnership with BC Group, will launch a cryptocurrency exchange that will serve users from the UK and Europe. Standard Chartered's venture capital arm, SC Ventures, together with the parent company of the Hong Kong cryptocurrency exchange OSL BC Group, are going to provide access to cryptocurrencies to European institutional clients. The new cryptocurrency broker should be launched in the fourth quarter of this year — now it is getting the necessary licenses from European regulators.
It is worth noting that at the moment SC Ventures is in the process of launching a custodial service for digital assets Zodia. Accordingly, Standard Chartered customers will have access to all the necessary services related to digital assets after the launch of Zodia and the new trading platform. The current mood of the big players suggests the adoption of cryptocurrencies by the institutional market as a very relevant asset class. This is confirmed by the expansion of the infrastructure around the cryptocurrency industry, which provides access to it to the largest investors.
The integration of Convex Finance (CVX) with the Net Protocol platform led to a 75% increase in the price of CVS (to the dollar).
The strategic partnership with Ods Finance announced by the Cyber Network (KNC) was the reason for the growth of KNC by 45% (against the dollar).
The listing of Launch pool (POOL) on the Kucoin exchange increased the value of LPOOL by 35% (against the dollar).
The U.S. stock market ended higher on Wednesday, led by gains in the oil and gas, telecommunications and utilities sectors. At the close on the New York Stock Exchange, the Dow Jones was up 0.07%, the S&P 500 was up 0.14%, and the NASDAQ Composite was up 0.14%.
The total capitalization of the cryptocurrency market has increased by 5% over the past day, the dominance of bitcoin has decreased by 0.8%, the total value of altcoins is approaching the value of $1 trillion, overcoming this mark will open the way to $1.15 trillion in the medium term.