Monat: Februar 2023

• TCNH, a stablecoin pegged to offshore Chinese Yuan (CNH), has been listed on Huobi.
• Users can acquire TCNH tokens through the crypto trading pairs available on exchanges, including Huobi.
• The CNH-pegged stablecoin will benefit from low transaction costs and instant transfer speed when deployed on TRON.

TCNH, A Stablecoin Pegged to Offshore Chinese Yuan, Listed On Huobi

TCNH, a stablecoin pegged to offshore Chinese Yuan (CNH) with a pilot program allowing organizations to mint TCNH, announced that it is now available on Huobi, where users can trade it through the TCNH/USDT pair.

About Huobi

Huobi is a leading crypto exchange that has witnessed its cumulative trading volume exceeding $1.2 trillion since its launch in 2013. It provides secure and reliable crypto trading and digital asset management services for millions of users in over 130 countries/regions worldwide and has customer service teams in Singapore, Japan, Korea, Brazil, Hong Kong SAR and other regions.

Benefits Of TCNH

Apart from minting directly through TCNH’s official website after being verified as a whitelisted organization, users may also acquire TCNH tokens through the crypto trading pairs available on exchanges. Already deployed on TRON—one of the world’s fastest-growing public blockchains—the CNH-pegged stablecoin TCNH will benefit from low transaction costs and instant transfer speed.

Huobi Seeking License In Hong Kong

Huobi is currently seeking a license in Hong Kong which is a major step for the leading cryptocurrency exchange and a sign of its continued commitment to operating in a compliant and regulated manner. This has significant implications for the transactional utility and broader adoption of TCNH.

Conclusion

In conclusion , Huobi listing of TCHN offers new opportunity for high liquidity . With access to one of the world’s largest markets , investors can enjoy low transaction fees , fast transfers , and broad adoption . This has exciting implications for blockchain technology adoption across different industries.

• Joe Biden is reportedly appointing Lael Brainard, Vice Chair of the Federal Reserve, as his top economic adviser.
• Brainard is a critic of cryptocurrencies and an advocate for a digital dollar that would be highly centralized and monitored by authorities.
• She has expressed concerns about Decentralized Finance (DeFi), saying it could facilitate illicit activities.

Joe Biden’s Top Economic Adviser

President Joe Biden will soon name Lael Brainard, Vice Chair of the Federal Reserve, as his top economic adviser. Previously working at the White House under President Bill Clinton, Brainard was also nominated as a Fed Governor in 2014 by Barack Obama.

Critic of Crypto and Advocate for Digital Dollar

Brainard is known as an opponent of cryptocurrencies, opining that bank involvement in the asset class could cause monetary chaos. Additionally, she is a proponent for a digital dollar that would be highly centralized and monitored by authorities.

Concerns About DeFi

Brainard has also expressed concerns about Decentralized Finance (DeFi), saying the new technology could be a catalyst for possible illicit activities: „The permissionless exchange of assets and tools that obscure the source of funds not only facilitate evasion, but also increase the risk of theft, hacks, and ransom attacks.“

Impact on Crypto?

It remains to be seen how Brainard’s appointment will affect crypto markets going forward – it could either support or hinder innovation within this space depending on her attitude towards it. So far her stance appears to be relatively conservative but we’ll have to wait and see if this changes over time or with further influence from other entities within Biden’s administration.

Conclusion

While Lael Brainard may not have been many people’s first choice for Joe Biden’s top economic advisor due to her anti-crypto views, it is important to remain optimistic until we can gauge how she might shape policy decisions related to this space in her new role. Only time will tell what impact her appointment may have on cryptocurrency markets going forward!

• Ethereum has recently broken the 200-day moving average and the multi-month channel’s upper trendline, however it is now consolidating beneath a major resistance level of $1.7K.
• There is a substantial bearish divergence between the price and RSI indicator on the daily timeframe which could lead to volatility in the coming days.
• Ethereum has three critical static levels: $1.7K major resistance level, $1.3K minor support level, and $1K major support level.

Ethereum Price Analysis

Uptrend Halt After Reaching Major Resistance At $1.7K

Ethereum’s uptrend has been halted after reaching the major resistance at $1.7K. The price action seems choppy, while a short-term correction is what many expect.

Technical Analysis

By Shayan – Ethereum has surpassed the 200-day moving average and the multi-month channel’s upper trendline due to the recent bullish move of the whole market. However, there is a substantial bearish divergence between the price and RSI indicator on the daily timeframe which could lead to volatility in upcoming days.

Static Levels For Ethereum

There are three critical static levels for Ethereum on its daily chart; they are:

• The $1.7K major resistance level
• The $1.3K minor support level
• The $1K major support level.

The price has been ranging between these two points for several months and it is likely that if rejected from its current position, Ethereum will next stop at its minor support level of $1.3k before continuing with its trend or entering a new one altogether depending on market conditions..

Ascending Head & Shoulder Pattern On 4 Hour Chart

Ethereum’s price action seems to be bearish on its 4 hour timeframe as it has been forming an ascending Head & Shoulder pattern after reaching an important resistance region that may lead to further downward movements below its neckline at around 1$.5k if confirmed by market actions .

Conclusion

It can be concluded that despite being in an overall bullish trend, Ethereum faces some headwinds in terms of possible corrections in both short term and long term due to various factors such as bearish divergences between prices and RSI indicators , formation of certain patterns ,and certain key static levels that act as strong resistances or supports depending on their values . Therefore potential investors should keep themselves aware of any changes happening within these parameters before taking any decisions related to investments .

• Web3-focused fund VVF recently announced a $5 million investment in Everscale Blockchain.
• The investment is meant to support the Web3 industry by helping Everscale hire more developers and increase the number of projects.
• VVF was co-founded by Abu Dhabi-based Iceberg Capital Limited and the Venom Foundation.

Web3-focused fund Venom Ventures Fund (VVF) recently announced a $5 million investment in Everscale Blockchain. This strategic investment is meant to solve scalability issues that plague the Web3 industry and help Everscale complete its mission of hiring more developers and increasing the number of projects.

VVF was co-founded by Abu Dhabi-based Iceberg Capital Limited and the Venom Foundation. The fund came into being earlier last month and is focused on Web3 development. It aims to support the Web3 industry and bridge the gap between the development of blockchain-based protocols, applications, and infrastructure.

According to a document seen by CryptoPotato, the $5 million investment will go towards supporting Everscale’s expansion efforts. This will include hiring more developers and increasing the number of projects. VVF’s Chairman Peter Knez stated, “For us, this is a strategic investment aimed at the technological development of projects.”

The investment is also meant to help Everscale solve the scalability issues that many Web3 projects are facing. Scalability is a major concern in the blockchain industry and is one of the biggest hurdles when it comes to the adoption of blockchain technology.

Everscale was launched in 2020 and is a Web3 platform that offers a suite of products and services for developers. It provides a blockchain-based protocol for developers to build applications on. This protocol is designed to make it easier for developers to create and launch blockchain-based applications.

The investment from VVF will help Everscale expand its reach and grow its user base. It will also help the company improve its products and services and make them more accessible to developers.

VVF’s investment in Everscale is a sign of the growing interest in Web3 development. The Web3 industry is expected to grow exponentially in the coming years as more projects and developers enter the space. This investment will help ensure that Everscale remains at the forefront of this growth.