Crypto exchange
Bitcoin beats owning COIN stock by 20% since Coinbase IPO
Buying a Coinbase stock (COIN) to gain indirect exposure in the Bitcoin (BTC) market has been a bad strategy so far compared to simply holding BTC. Notably, COIN is down by nearly 50% to almost $186, if measured from the opening rate on its IPO on April 14, 2021. In comparison, Bitcoin outperformed the Coinbase stock by logging fewer losses in the same period — a little over 30% as it dropped from nearly $65,000 to around $41,700 BTC/USD (orange) vs. COIN price (blue). Source: TradingView What’s bothering Coinbase? The correlation between Coinbase and Bitcoin has been largely positive to date, however, suggesting that many investors consider them as assets with similar value propositions. That is primarily due to the buzz around how COIN could become a simpler onboarding experi...
Stacks price plunges hard after rallying 70% in a day — more STX losses ahead?
Stacks (STX) pared a considerable portion of the gains it made on March 10 as the euphoria surrounding its $165 million pledge to support Bitcoin (BTC) projects showed signs of fading. STX’s price dropped by over 30% to reach a level as low as $1.33 on Friday when measured from its week-to-date high of $1.94. The selloff, in part, appeared technical as the $1.94-top fell in the same range that served as solid support between October 2021 and January 2022, only to flip later to become a resistance area. STX/USD daily price chart. Source: TradingView It also appears that traders spotted selling opportunities due to STX’s long wick candlestick on March 10. Stacks rallied by as much as 73% into the day while forming a disproportionally long bullish wick on the daily chart that hint...
FTX announced as naming rights sponsor of Australian Blockchain Week 2022
FTX Trading Limited (FTX) will be the naming rights sponsor for Australian Blockchain Week 2022, which will run from March 21 to 25. Blockchain Australia is the peak industry network in Australia, bringing together industry, academia and government to discuss the opportunities of blockchain technology. I’m incredibly excited to announce @FTX_Official as the Naming Rights Sponsor for Blockchain Week 2022. A huge to @SBF_FTX for your support of the Australian ecosystem pic.twitter.com/B6cUWaTWIE — Steve Vallas (@stevevallas) January 17, 2022 Over 200 speakers across 75 events will present at Australian Blockchain Week, including FTX CEO Sam Bankman-Fried. Launched in May 2019, FTX is a Bahamian-based cryptocurrency derivatives exchange. At the time of publication, it had a 24-hour trad...
Luno and Genesis Partner for Customers to Earn Interest on Crypto Holdings
Luno and Genesis have partnered to provide customers with simple, accessible ways to earn interest on their crypto holdings. The partnership creates “savings accounts providing institutional-level interest rates to clients in traditional and emerging markets”. The companies believe these savings accounts will provide traditionally underbanked customers in emerging markets access to banking services via the market infrastructure built for the global cryptocurrency community. “We share Luno’s passion for making it safe and easy – across all segments of the market – to learn about, buy and store cryptocurrencies. By combining Genesis’s infrastructure with Luno’s footprint in more than 40 countries, we’re creating a fairer, more inclusive financial system by providing access to int...
