💹 Market overview April 8, 2021

LeoFinance
10 days ago
3 Min Read
678 Words

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 instrument closed below the diagonal support line, which led to a decline in bitcoin by 3.5%, the corrective momentum was stopped by the exponential moving average 200 EMA 4H, from which the asset rebounded. Judging by the volume, the selling pressure is weakening, bitcoin is consolidating above the support level of $59,500 before the next move. The Stochastic indicator shows the achievement of the mark from which the local trend change occurred last time. To develop an upward movement, the instrument needs to trade above the support level of $59,500, followed by an exit from the accumulation block at $56,400. If the price goes under the named support level, the asset will decline to the level of $55,400.

ETH. Ether went to the correction after the main cryptocurrency, at the moment the instrument is trading above the support level at $1945, the nearest significant resistance is around $2050.

The largest US cryptocurrency exchange Coinbase, ahead of the listing of its shares on the Nasdaq, which is scheduled for April 14, announced a sharp increase in profits. Coinbase's revenue for the first quarter of 2021 was $1.8 billion, profit - $730-800 million, for the whole of 2020, Coinbase's profit was $322.3 million, so for the first quarter of 2021, the exchange made a profit of about 2.5 times more than for the whole of the previous year. Trading volume increased significantly in the first quarter of this year, reaching $335 billion. The volume of assets on the site is $233 billion, of which $122 billion relates to institutional investors.

The trading platform will become the world's first public crypto exchange. The first trading of Coinbase (COIN) shares can lead to pumps of native tokens of other cryptocurrency exchanges, it will be interesting to track the change in the value of BNB and FTT. The successful placement of COIN will increase the company's customer base, currently numbering 56 million users, which will expand the influx of potential buyers to the digital asset market.

Privacy-focused messenger Signal has introduced the cryptocurrency payment feature in the beta version of the program, which is currently available only to British users . Payments are made in an anonymous coin MOB. In the future, the developers of the messenger are going to add support for other confidential cryptocurrencies.

WeChat WeChat Payment, a digital wallet built into a WeChat account, was the first to launch the expansion of the Chinese messaging platform in 2014, which later allowed the company to create its own ecosystem. The introduction of a new technology-a decentralized crypto wallet based on the messenger can lead to the appearance of this function in most social platforms, which will significantly expand the presence of digital assets in everyday life.

The announcement of the upcoming launch of the mobile application by the Etherland project led to a 30% increase in the price of ELAND at the peak (against the dollar).

The strategic partnership with Citadel.one, announced by Sentinel (#DVPN), was the reason for the growth of DVPN by 30% (against the dollar).

U.S. stocks were mixed after the close on Wednesday, as gains in the technology, oil and gas, and finance sectors led by gains in the commodities, consumer goods, and healthcare sectors. At the close on the New York Stock Exchange, the Dow Jones rose by 0.05%, the S&P 500 index rose by 0.15%, the NASDAQ Composite index fell by 0.07%.

Over the past 24 hours, the total capitalization of cryptocurrencies has decreased by 3.85%, while the dominance of bitcoin has increased by 1.5%. On the correction of the main cryptocurrency that began yesterday, longs for BTC and altcoins for $1.43 billion were eliminated, with altos accounting for almost $1 billion. It is likely to see a rebound across the entire market in the near future, however, the risks should not be overstated.

Posted Using LeoFinance Beta