Crypto investment firm KR1 profits $1.2 M from FunFair token

KR1, a blockchain asset and crypto investment company, has announced that it has sold its remaining holding of FUN tokens in the crypto gaming FunFair project, at an average price of USD $0.02027 per FUN token, generating proceeds of USD $1,281,608.60. The FUN tokens were acquired at an average price of USD $0.00667 per FUN during the project’s initial funding round.

“With the recent market activity and the rather mature stage of technical development of the FunFair project, it was the right time to look to other opportunities and capitalize on the speed of innovation in the wider blockchain ecosystem. FunFair has been a successful investment for KR1 as one of the earliest supporters of the team, and we continue to be impressed by their continued level of innovation and experience in the gaming world.”
– George McDonaugh, Managing Director and Co-Founder of KR1

CryptoNinjas » Crypto investment company KR1 profits $1.2M from FunFair token

Title: Crypto investment company KR1 profits $1.2M from FunFair token
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Published Date: Thu, 07 Jan 2021 16:30:35 +0000

40 Crypto Firms Look For Austrian Permit, 18 Get Tick of Authorization

The majority of digital-asset providers that were applied for a license operate crypto wallets and exchange platforms.

Title: 40 Crypto Firms Apply for Austrian License, 18 Get Tick of Approval
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Published Date: Thu, 07 Jan 2021 16:30:23 +0000

BTC/USD Ultimately Encounters Gravity During Pullback: Sally Ho’s Technical Analysis 11 January 2021 BTC

Bitcoin (BTC/USD) continued to trade in a volatile manner early in today’s North American session as the pair continued to exhibit weakness below the psychologically-important 40000 figure following recent headwinds encountered around the 41452.12 area.  The 40164.67 level emerged as one where additional selling pressure intensified over the weekend and traders initially pushed the pair as low as the 34444.00 area, its weakest print after recently establishing a new lifetime high around the 41986.37 area and a test of the 38.2% retracement of the appreciating range from 21913.84 to 41986.37Stops were elected below a variety of downside retracement levels during the acute pullback, including the 38159.9137249.2536226.4735900.7935784.73, and 35454.75 areas.  Following the recent pullback, additional areas of potential technical support include the 32988.0732663.1432135.9831948.1231414.0029783.1929093.1928847.3128148.19, and 27421.33 levels. 

During the recent move higher, Stops were recently elected above a series of additional upside price objectives including the 40517.8040667.7640991.444120041267.10, and 41489.74 levelsStops were recently elected above the 35943.7336480.83, and 36854.45 areas as well, upside price objectives related to previous buying pressure around the 1758016200, and 9819.83 levels and the sell-off intensified below these areas during the recent depreciation.   If BTC/USD is able to extend recent gains to the upside, additional upside price objectives include the 42309.0142701.9142803.5343447.48, and 43617.07 levels.   Traders are observing that the 50-bar MA (4-hourly) is bullishly indicating above the 100-bar MA (4-hourly) and above the 200-bar MA (4-hourly).   Also, the 50-bar MA (hourly) is bullishly indicating above the 100-bar MA (hourly) and above the 200-bar MA (hourly).

Price activity is nearest the 50-bar MA (4-hourly) at 36352.72 and the 200-bar MA (Hourly) at 36244.39.

Technical Support is expected around 33638.11/ 33121.14/ 32164.09 with Stops expected below.

Technical Resistance is expected around 42309.01/ 42701.91/ 42803.53 with Stops expected above.  

On 4-Hourly chart, SlowK is Bearishly below SlowD while MACD is Bearishly below MACDAverage.

On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bearishly below MACDAverage.                                                                                                                                                   


Disclaimer: This trading analysis is provided by a third party, and for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.


Title: BTC/USD Finally Encounters Gravity During Pullback: Sally Ho’s Technical Analysis 11 January 2021 BTC
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Published Date: Mon, 11 Jan 2021 10:05:39 +0000

ETH/USD Orbiting 1000 Number on Pullback: Sally Ho’s Technical Analysis 11 January 2021 ETH

Ethereum (ETH/USD) extended its recent pullback away from its recently-established multi-year high around the 1350.88 level as traders continue to take profits and reduce exposure to market riskStops were recently elected below some downside retracement areas during the pullback, including the 12241194.441162.211157.23, and 1145.37 levels.  If ETH/USD extends its pullback lowerdownside retracement areas and levels of potential technical support include the 1053.311002.84982.99976.37954.16941.22917.03915.48902.24895.33869.22860.69856.83844.44831.94828.97812.73783.02770.03763.66750.28745.01, and 723.97 areas.  During ETH/USD’s recent move higher to multi-year highsStops were recently elected above the 1072.781133.441163.931176.281225.30, and 1230.73 areas, and selling pressure intensified below these areas during the pullback.  Notably, these levels represented technically significantupside price objectives related to historical buying pressure around the 215.16625.01370.50480.08530.32, and 310.79 areas.   

Strong Stops were also recently elected above the 819.23877.81, and 879.23 levels during the sharp climbupside price objectives also related to previous buying activity around the 625.01 and 530.32 areas, and traders are curious to see how price activity reacts around these levels.  If ETH/USD is able to resume its recent upward buying pressure, additional upside price objectives include the 1381.031439.981582.86, and 1665.31 areas.  Additional significant Stops were also recently elected above the 615.19637.79668.87679.78, and 698.88 area during the march to successive multi-year highs, and traders are curious to see how supportive those levels become during pullbacks lower.  Traders are observing that the 50-bar MA (4-hourly) is bullishly indicating above the 100-bar MA (4-hourly) and above the 200-bar MA (4-hourly).   Also, the 50-bar MA (hourly) is bullishly indicating above the 100-bar MA (hourly) and above the 200-bar MA (hourly).

Price activity is nearest the 100-bar MA (4-hourly) at 915.56 and the 200-bar MA (Hourly) at 1221.93.

Technical Support is expected around 792.40/ 766.54/ 729.88 with Stops expected below.

Technical Resistance is expected around 1381.04/ 1419.96/ 1439.98 with Stops expected above.

On 4-Hourly chart, SlowK is Bearishly below SlowD while MACD is Bearishly below MACDAverage.

On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bearishly below MACDAverage.


Disclaimer: This trading analysis is provided by a third party, and for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

Title: ETH/USD Orbiting 1000 Figure on Pullback: Sally Ho’s Technical Analysis 11 January 2021 ETH
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Published Date: Mon, 11 Jan 2021 10:05:35 +0000

High threat of shedding all your cash if you purchase crypto – FCA

The UK Financial Conduct Authority (FCA), today published a warning to all potential speculators in the cryptocurrency markets. Investments into cryptocurrencies or ‘lending’ connected with these markets was deemed to be highly risky and could lead to consumers losing their money.

Compensation schemes and risks

The FCA article stated that recourse to financial help and compensation in the form of the Financial Ombudsman Service, and the Financial Services Compensation Scheme, was ‘unlikely’ in the case where things go badly.

The article then went on to highlight the risks that consumers can face with these types of investments:

Offering not fully compliant with regulatory requirements High price volatility leading to inability to value crypto assets with total certaintySheer complexity of financial products which most investors may struggle to fully comprehendCharges and fees that may be more than those made by regulated companiesMarketing that overstates earnings and understates risks

Financial companies in the Cryptocurrency space

There are a vast number of financial products available in the cryptocurrency sector and many companies are having varying degrees of success. Celsius is a highly successful company right now that has actually increased more than 3700% over the past year, compared with the 340% rise for Bitcoin over the same period.

Just holding stable coins on this platform offers a return of nearly 13%. No hacks or similar issues have been reported thus far.

The DeFi (Decentralised Finance) space continues to grow at an exponential rate. Projects such as AaveCompound and Synthetix are returning far more than traditional finance products, even though their complexity is a lot to take on board for the average investor. 

Other projects encourage investors to ‘yield farm’ which can also return some quite spectacular gains. However, the risks are certainly high here and in such a nascent industry issues have already occurred, such as in the case when MakerDAO, the project with the largest amount of TVL (Total Value Locked) in the DeFi space, suffered huge losses in the March 2020 market collapse

Meddling regulator or timely warning?

Regulators are there to enforce the law and to thereby ‘protect’ consumers from entities operating outside of the law. Regulation is certainly a good thing when it puts rules in place that are sensible, and which protect companies and individuals that wish to offer, and invest in, financial products.

The FCA has issued a warning to investors which is right and proper. Whether potential investors heed that warning is now entirely up to them. However, It may well be that many will choose to ignore this warning, given the huge gains that can presently be made. Indeed, what are their alternative options, given the parlous state of returns from financial products in the traditional financial system?

Title: High risk of losing all your money if you invest in crypto – FCA
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Published Date: Mon, 11 Jan 2021 10:05:33 +0000


Why the Bitcoin rate suddenly dropped 5% in three hours– and also where it goes next

The price of Bitcoin abruptly fell by over 5% in just three hours on January 10. Analysts generally attributed the volatility to an overheated derivatives market and the new upcoming weekly candle.

Why some technical analysts expected this move

Some traders and technical analysts anticipated Bitcoin to pullback, due to the range it has seen in recent days.

Bitcoin has been consolidating between $38,800 and $41,000 throughout the last 72 hours. Considering that it is the weekend and there is a low volume all around, the probability of BTC declining and testing the low point of the range was high.

Scott Melker, a cryptocurrency trader, anticipated Bitcoin to “sweep the lows” of the range, which it did. BTC dropped slightly lower than $38,800, which caught many traders off guard.

$BTC Hourly

Here is the sweep of the lows that I mentioned in the previous tweet.

— The Wolf Of All Streets (@scottmelker) January 10, 2021

Some traders placed a bid at the $39,300 support area with a stop slightly below $38,800. But, BTC pulled back stronger than most expected, causing many stops to get triggered.

In the near term, traders remain generally cautious and uncertain about the price trend of BTC.

On January 11, Bitcoin would see a new weekly candle, which is typically met with a spike in volatility.

Edward Morra, for example, a cryptocurrency trader, said that many stops have been cleared and there is liquidity on the “range high.” This means that BTC is likely to rally towards the high point of the range at $41,000. He said:

“Stops cleared, now we have some liquidity at the range high, however there is 1 bearish possibility i spotted.”

bitcoin price btcusd
The price of Bitcoin with a range. Source: BTCUSD on TradingView

What happens next?

There are two scenarios in the short term. First, Bitcoin could retest the $41,100 range high and pull back once again.

Second, Bitcoin could surge to $41,100 again and break out of it this time, as BTC historically tends to break out on the third retest.

But, some traders have pinpointed the emergence of celebrity tweets around crypto, which previously marked the top of BTC in past bull cycles.

A pseudonymous trader known as “Loma” said it does not necessarily show that Bitcoin is bearish or bullish. But, it can be used as a way to gauge the market sentiment. He said:

“It’s not necessarily bullish or bearish in terms of technicals. I don’t expect price to crash tmrw because Katy Perry has crypto nails or KSI tweets about $ETH. I just like using them as a gauge for where we are in the cycle. I’m sure it brings in a lot of new buyers and attention but I always find myself asking: Alright well if we get a fuck ton of exposure through celebrities, institutions are buying/have bought, traders are most likely in. That sounds like a lot of buyers that’ve already bought.”

The post Why the Bitcoin price suddenly fell 5% in three hours—and where it goes next appeared first on CryptoSlate.

Title: Why the Bitcoin price suddenly fell 5% in three hours—and where it goes next
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Published Date: Mon, 11 Jan 2021 10:05:23 +0000

Personal privacy coin narrative gains vapor regardless of Bittrex delistings: XMR, ZEC, DASH gain 20%.

Early this year, privacy-focused coins were seemingly dealt a death blow by Bittrex, a popular crypto-asset exchange.

In an announcement, the exchange said that it would be delisting the trading pairs that pertain to three privacy-focused altcoins: Monero (XMR), ZCash (ZEC), and DASH (DASH).

No point was mentioned for the proposed delistings, though many were quick to assume that it was due to the privacy benefits they enable. Jake Chvervinsky, a lawyer working for Compound Labs, wrote:

“It’s deeply disappointing to see exchanges remove assets just because they have privacy-preserving features. There’s no law or regulation requiring this, just DOJ’s opinion that privacy is “indicative of possible criminal conduct.”

In the wake of the announcement, the three coins targeted by the exchange plunged by 15-25 percent, falling in spite of Bitcoin moving to new all-time highs.

Many thought this trend would continue as other exchanges were expected to follow suit.

But this didn’t happen: in fact, on the day of the delistings were announced, Gemini co-founder Tyler Winklevoss doubled down on the commitment to supporting privacy coins.

Today, these same coins that plunged earlier this year are starting to rally, outpacing Bitcoin, Ethereum, and all other cryptocurrencies except for some DeFi plays.

Privacy coins surge higher

According to CryptoSlate market data, privacy coins are amongst the best-performing cryptocurrencies in the past 24 hours.

Horizen (ZEN), a privacy-focused coin, has gained 45 percent in the past 24 hours and is now up by nearly 100 percent in the past seven days.

By a similar token, ZEC, XMR, and DASH have all gained over 20 percent in the past 24 hours. All three are still trading around the prices they were at before the Bittrex announcement, showing the effect the delistings had on the market sentiment around privacy coins.

Although there are some traders that argue there is a technical component to the ongoing privacy coin rally, it appears that privacy coins are benefiting from a global increase in privacy in general.

This morning, Chamath Palihapitiya noted that he is moving to Signal now that WhatsApp has begun to erode the privacy rights that users had on the platform prior.

Many other prominent investors, Twitter personalities, and Silicon Valley innovators made similar comments about Whatsapp in particular and about privacy in general.

Starting in Feb, WhatsApp will begin sharing all kinds of data with Facebook. They just killed their best feature – privacy.

Please no longer text me on WhatsApp. Download @signalapp

— Chamath Palihapitiya (@chamath) January 10, 2021

Further demand for privacy-enabling features in technology today could give a further kick to these privacy-focused coins.

See CryptoSlate’s privacy coin list here.

The post Privacy coin narrative gains steam despite Bittrex delistings: XMR, ZEC, DASH gain 20% appeared first on CryptoSlate.

Title: Privacy coin narrative gains steam despite Bittrex delistings: XMR, ZEC, DASH gain 20%
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Published Date: Mon, 11 Jan 2021 10:05:20 +0000


TomoChain Prepares for Zorro Network Upgrade

[PRESS RELEASE – Please Read Disclaimer]

Singapore, January 12, 2021 — Scalable smart contract platform TomoChain has released details of its forthcoming Zorro upgrade. Set to occur at block 30,915,660, on or around January 22nd, the activation of Zorro will enhance the Proof-of-Stake blockchain with an upgraded EVM.

“The arrival of Zorro is an important milestone in our ongoing development,” said TomoChain founder and CEO Long Vuong. “I am confident that the new features and functionalities it provides will be welcomed by the community, as we seek to make 2021 TomoChain’s best year yet.”


Kyn Chaturvedi, CBDO of TomoChain, added: “This upgrade will elevate TomoChain’s capabilities, making the network suited to hosting enterprise applications that can operate at scale. Making it easier for developers to build on TomoChain, through upgrading its EVM, is a vital step in realizing this goal.”

The upgrade of TomoChain’s Ethereum Virtual Machine will include the latest version of Solidity and enable developers to easily deploy code from other EVM chains with minimal customization. As a consequence, the multi-chain liquidity protocol LuaSwap will soon launch on TomoChain, with all future upgrades to its smart contracts easy to deploy across EVM-compatible chains.

Zorro also fulfills the technical requirements needed to enable TomoChain’s defi-centric Layer 1 Protocol Trifecta, comprised of TomoZ, TomoX, and TomoP. Moreover, Zorro will adjust the cancellation fee on TomoX, a DEX protocol that allows for the launch of permissionless orderbook-based DEXs with zero gas fees, near instant trades, and a shared liquidity book across all decentralized exchanges. The cancellation fee will now be fixed to 0.001 TOMO for all TOMO pairs. There will be no cancellation fee for non-TOMO trading pairs, irrespective of value placed on the orderbook.

Ahead of the Zorro release, all masternodes and full node operators have been encouraged to update their software as soon as possible, since older TomoChain versions will be rendered incompatible with the rest of the network when the upgrade activates on Jan 22nd, 2021. TOMO token-holders don’t have to do anything.

TomoChain, which acquired Ethereum-based sidechain Lition late last year, recently partnered with Vietnam’s Ministry of Education, who will utilize the blockchain to secure millions of diplomas.

About TomoChain

TomoChain is a blockchain protocol project headquartered in Singapore, which launched its mainnet in December 2018. With additional offices in Vietnam and Japan, TomoChain is strongly positioned to capitalize on the South-East Asian blockchain market. The TomoChain network features an array of original features and protocols designed to support speed, privacy, usability, and liquidity.

Title: TomoChain Prepares for Zorro Network Upgrade
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Published Date: Tue, 12 Jan 2021 13:04:04 +0000


Why a lot more experts are starting to anticipate Ethereum may hit $10k long-lasting

More analysts are beginning to believe that Ethereum could achieve $10,000 to $20,000 in the long-term.

The $20,000 target was first brought upon during this bull cycle by Real Vision Group CEO Raoul Pal. The industry executive noted that Ethereum is following Bitcoin’s growth trajectory based on Metcalfe’s law.

“Oh shit, really? Is ETH identical in price structure to BTC when it had same number of active addresses?? But, but ,I thought it was a worthless shitcoin???”

— Raoul Pal (@RaoulGMI) January 7, 2021

Ethereum to $10k, is it possible?

For Ethereum to achieve $10,000, it would have to hit a $1.1 trillion market cap. The current valuation of Bitcoin is hovering at $640 million while ETH’s market cap is at around $120 million.

So, proportionally, it would be possible for Bitcoin to reach a multi-trillion dollar market cap, and for Ethereum to follow suit. Pal said:

“But ETH market cap is growing faster than BTC at the same point ( from first 1m active addresses)… Yeah, ETH might well go to $20,000 this cycle… (exact same as BTC last cycle, by market cap ETH will be bigger). BTC = ETH. Fact. Different assets, different ecosystems, same adoption, same behavioral economics = same same but different…”

Ethereum has the potential to reach such a high valuation mainly due to the significant increase in user activity.

In the past several years, particularly before 2020, there was not a lot of users on Ethereum.

It was the explosive growth of decentralized finance (DeFi) that propelled the upwards trajectory of the Ethereum blockchain network.

In mid-2020, the total value locked in DeFi was hovering at around $1 billion. That figure has increased by 21-fold since, and it is now above $21 billion.

Considering DeFi’s rapid growth and the consistent increase in user activity on Ethereum, analysts are becoming more confident in a more aggressive long-term bull case.

A pseudonymous Ethereum research and developer known as “Antiprosynthesis” said:

“Call me crazy, but I firmly believe that $ETH will hit $10k-$20k within the coming 1-2 years. And this time deservedly so. #Ethereum has firmly established itself to become the universal value settlement layer of the internet, backed by an $ETH with maximum demand/supply ratio.”

Ethereum eth
15-minute Ethereum price chart. Source: ETHUSD on

DeFi could go mainstream

On January 13, Brian Brooks, the U.S. acting comptroller of the currency, wrote an oped on the Financial Times about DeFi. He wrote:

“Banking is headed down the same road. And it’s being driven by the technology behind decentralised finance, or DeFi. But just as the original rules of the road protected us from other drivers, so our current bank regulations exist mainly to prevent human failings.”

Brooks also touched on the possibility of granting banking charters to DeFi protocols in the oped, which is a significant recognition from a key official.

If DeFi sees mainstream attraction i the longer term, it would only strengthen the bull case of Ethereum, especially now that layer two solutions are booming.

DeFi protocols are currently running into scaling issues due to the Ethereum network’s limited capacity. But Eth2 and layer two solutions would offset these issues over time.

The post Why more analysts are starting to expect Ethereum may hit $10k long-term appeared first on CryptoSlate.

Title: Why more analysts are starting to expect Ethereum may hit $10k long-term
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Published Date: Thu, 14 Jan 2021 13:50:49 +0000


Bitcoin surges a day after Grayscale resumes down payments, and it’s not a coincidence

The price of Bitcoin has recovered strongly overnight, rising from around $34,000 to $38,500. The 10% rally coincides with Grayscale reopening its products.

Last month, Grayscale closed its products for new investors. Since Christmas, the Grayscale Bitcoin Trust did not report any additional inflow as a result.

The Grayscale Bitcoin Trust is the go-to investment vehicle for institutions in the U.S. to gain exposure to BTC. Hence, when it is closed to new investors, there are naturally lower capital inflows into the Bitcoin market.

bitcoin price
15-minute price chart of Bitcoin. Source: BTCUSD on TradingView

Is Grayscale kickstarting the Bitcoin rally?

Although it is difficult to prove an exact correlation, the timing of Bitcoin’s relief rally is noteworthy.

Grayscale reopened its products for new investors on January 13. Within 24 hours, Bitcoin surged by 10%, seeing an explosive reaction from buyers to the $30,000 support level.

Bybt, an aggregated derivatives exchange data provider, reported that Grayscale added 2,172 BTC in the last 24 hours. At the price point of $38,500, it is equivalent to $83.6 million.

Grayscale is back!Grayscale gains another 2172 #BTC in 24 hours. Their total AUM now $26.39 billion.

— Bybt (@bybt_com) January 14, 2021

Throughout the fourth quarter of 2020, institutional investors were the primary catalyst of Bitcoin’s rally.

Grayscale saw large inflows, causing its assets under management to surpass $26 billion. Bakkt, CME, and LMAX Digital, all three that facilitate institutional trades, saw a significant increase in trading volume.

Hence, some analysts suggested that the reopening of Graycale’s products could result in a newfound rally for Bitcoin.

Since Grayscale closed its products to new investors, Bitcoin consolidated for a prolonged period. It saw a steep rejection from $42,000, dropping by 16% on a single day.

Based on the market’s reaction in the last 24 hours, it is becoming more evident that institutions are beginning to play a vital role in the cryptocurrency market.

Unlike the U.S. stock market that deals with trillions of value, the cryptocurrency market is worth just over $1 trillion.

In the stock market, retail investors could overrun institutions and there were instances of this throughout the last quarter of 2020.

Analysts, like Jim Cramer, said that Robinhood traders overwhelmed institutions at times, especially when the market started to become overheated.

In the cryptocurrency market, it is hard for retail investors to overpower institutions and professional traders. The volume of the market is increasing rapidly but it is still well dominated by whales, institutions, and high-net-worth investors.

What comes next?

Due to the volatility and large price swings, the cryptocurrency market sentiment tends to change radically at every correction and recovery.

The pseudonymous derivatives trader “Light” noted:

“Remember how you felt in the $40,000s. Now remember how you felt at $31,000. Now we come full circle to how you feel today. This never-changing cycle and its associated emotions are all you need to imprint in your self, and if you do, you will beat markets.”

Considering this trend, the market would likely see a euphoric sentiment in the foreseeable future, until the next shakeout comes.

The post Bitcoin surges a day after Grayscale reopens deposits, and it’s not a coincidence appeared first on CryptoSlate.

Title: Bitcoin surges a day after Grayscale reopens deposits, and it’s not a coincidence
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Published Date: Thu, 14 Jan 2021 13:50:37 +0000