Leading bank JP Morgan has launched JPM Coin, a blockchain-based token that is used as a settlement layer for their wholesale payments business. The lender’s wholesale payments business moves over $6 trillion daily around the world.
Facebook’s cryptocurrency division has reportedly acquired blockchain startup Chainspace. This is their first acquisition and is being referred to as an “acqui-hire,” meaning they are most likely interested in gaining the talent pool rather than any practical technology.
As of January 31, 2019, leading cryptocurrency exchange Binance has enabled credit and debit card payments. This is another strategic move for the company to not only grow their user base but also help push the crypto industry one step closer towards mainstream adoption.
Popular trading app Robinhood gains approval to allow New York residents to trade virtual currencies.
New Zealand based exchange Cryptopia was hacked on January 14, 2019, suffering significant losses. Cryptopia did not announce the breach until January 15. The hackers moved at least $2.4 million worth of Ethereum and roughly $1.2 million worth of Centrality to various wallets.
Under the hammer last week was Stellar’s Lumen, while Binance managed to consolidate the previous week’s rally. Moving through to key levels early will be key in the week ahead.
Binance is being hit by the bears this week, as investors lock in profits from last week’s rally. Holding onto $9.00 levels will be key in supporting a bounce back.
It was a mixed bag for the majors last week and we could see the same again in the week ahead. IOTA is looking to take the lead early on.
The bears take a bite mid-week, with gains from the start of the week under threat as the broader cryptomarket hits reverse. A recovery through to $0.0265 would signal a possible rebound.
Following a mixed week last week, a bearish start to the week could weigh should the majors fall below key levels.
|Williams %R (14)||-64.1104|
|Stochastic RSI (14)||14.3836|
|Ultimate oscillator (7,14,28)||54.3193|
|Stochastic Fast (14)||35.8896|