Fintech Radar
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Crypto Trading: Gulf Binance Obtains Digital Asset Operator Licenses in Thailand
Gulf Binance Co., Ltd., a joint venture between Binance and Gulf Innova Co., Ltd., has now secured digital asset operator licenses.
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Fintech Pesto Takes on Pawn Lending, Introduces Asset-Backed Credit Card
Pesto Mastercard issued by Continental Bank, the first credit card that enables customers to use valuables as collateral to secure a credit card.
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Manappuram Finance Launches Digital Lending App Ma-Money
Manappuram Finance Limited has launched a digital lending app Ma-Money.
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Ethereum Faces Strong Rejection Above $1.9K! Here’s The Next Level For ETH Price
The post Ethereum Faces Strong Rejection Above $1.9K! Here’s The Next Level For ETH Price appeared first on Coinpedia Fintech News Despite several macro challenges, Ethereum (ETH) has been displaying continuous upward momentum and a potential of reaching the $2K mark. However, recent market trends have seen Ethereum face a strong rejection above the $1.9K mark, causing ripples among long-term holders and traders. The rejection at $1.9K was not entirely unexpected. The crypto market has been in a state of flux, with Bitcoin, the market leader, also experiencing similar price resistance. Whales’ Profit Taking Sentiment Causes Selling Pressure One significant element contributing to the selling pressure on Ethereum is the profit-taking sentiment among Ethereum whales. A prominent Ethereum holder transferred a substantial sum of 23,080 ETH, equivalent to roughly $44 million following the cryptocurrency’s price escalation above $1,904. This move indicates that significant stakeholders are beginning to capitalize on their gains in light of Ethereum’s recent price surge. The average price at which the whale withdrew Ethereum hovers around $1,820. This figure is considerably lower than the most recent peak price, implying a cautious strategy towards risk management and a tendency to secure profits during times of price appreciation. Moreover, analyzing on-chain data, Ethereum’s withdrawing transaction metric has been declining following ETH’s recent big red candle. The metric is currently at 81K level which was last seen in January. Withdrawal transactions are the transfer of Ethereum from exchanges to personal wallets. High withdrawals suggest investors are holding ETH privately, possibly anticipating a price rise. Low withdrawals imply more ETH is stored on exchanges, often indicating upcoming sales. A decline in Ethereum withdrawal transactions can therefore exert downward pressure on the ETH price. This is because when large amounts of ETH are kept on exchanges, it increases the supply of Ethereum available for trading. If the demand does not match this increased supply, it can lead to a surplus of ETH on the market, which can subsequently cause the price to drop. What’s Next For ETH Price? Ether has been in a declining wedge pattern for several days. On May 25, despite bears’ efforts to lower the price to the wedge’s support line, bulls bought the dip aggressively, evident from the long candlestick tail. As of writing, ETH price trades at $1,892, gaining over 2% in the last 24 hours. However, ETH price today witnessed a massive selling pressure, plunging its price from a high of $1,927. Bulls are now attempting to maintain the price above the 20-day EMA at $1,842. If successful, the ETH price could climb to the resistance line at $1,930. This is a crucial level to monitor as a break above it could trigger a rally to $2,000. However, if the price drops from the current level or drops below the 38.6% Fib channel, it will indicate that bears are still dominant at higher levels. This could result in the ETH price remaining within a bearish region for a few more days.
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EquityZen Again Predicts Improving IPO Market Towards End of Year
EquityZen is out with another note reiterating its expectation that the initial public offering (IPO) market will pick up toward the end of the year.
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British Business Bank Seeks Proposals to Deliver Long-Term Investment for Technology and Science Initiative
The British Business Bank announced a Call for Proposals as part of the launch of the government’s Long-term Investment for LIFTS initiative.
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Cyprus Credit Union Chooses Eltropy as Its Digital Conversations Platform
Cyprus Credit Union has chosen Eltropy as its new partner to modernize the credit union’s digital communication strategy.
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Bitcoin Price Prediction: BTC Price All Set To Ignite Historical Bull Run
The post Bitcoin Price Prediction: BTC Price All Set To Ignite Historical Bull Run appeared first on Coinpedia Fintech News Renowned crypto analyst PlanB suggests that Bitcoin (BTC) is on the verge of crossing a crucial resistance level that has historically marked the beginning of bull runs.  PlanB, known for his pseudonymous identity, shared his observations with his 1.8 million followers on Twitter. PlanB’s Analysis PlanB believes that once Bitcoin surpasses its two-year realized price of $29,500, a new bull market could be initiated. He highlights that during previous bull markets, Bitcoin consistently traded above all its realized prices, including those from 2017, 2013, 2011, and 2021. Conversely, during bear markets, Bitcoin remained below its realized prices. This historical pattern has caught the attention of traders and investors. Also Read: Bitcoin (BTC) Price Might Surge 40% In Coming Weeks – Here’s Why The realized price metric, which calculates the value of all Bitcoin tokens based on their purchase price divided by the total number of tokens in circulation, plays a significant role in PlanB’s analysis. Bitcoin’s current two-year realized price stands at $29,500. He suggests that if Bitcoin manages to surpass this level, it could serve as a pivotal moment indicating the start of a bull market. Market Anticipation Rises Traders and investors are eagerly watching as Bitcoin inches closer to the two-year realized price. PlanB’s analysis and predictions hold considerable weight in the crypto community, given his past success in accurately forecasting Bitcoin’s price movements. The market is filled with anticipation, as breaking through this resistance level could potentially trigger a new bull run in the cryptocurrency market. This Might Interest You: Top 3 Reasons Why Bitcoin (BTC) Price Will Surge By 150% Soon – Coinpedia Fintech News Bitcoin’s current trading price of $28,147 showcases a more than 4% increase in the past 24 hours.
