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Tokenization platform Tokeny gets investment from Inveniam, Apex Group, and K20 Fund

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Tokenization platform Tokeny gets investment from Inveniam, Apex Group, and K20 Fund

Tokenization platform Tokeny gets investment from Inveniam, Apex Group, and K20 Fund

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Leading crypto exchange BitMEX, today announced its partnership with Tokeny, a tokenization platform service provider to help launch its native BMEX token. Tokeny contributed its technical expertise and advice during the token’s development phase…

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Tokeny Solutions, a platform to issue, transfer and manage security tokens, and Monerium, a European EMI offering money on blockchains and blockchain bank account numbers, have teamed up to improve the accessibility of security…

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Tokeny Solutions, a blockchain platform to compliantly issue, transfer and manage security tokens, and Polygon, a platform for Ethereum scaling and infrastructure development, today announced a new collaboration, allowing asset issuers to tokenize compliant…

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Tokeny Solutions, a provider of tokenization technology, announced a new partnership with Cynopsis; to offer their clients a secure and streamlined investor compliance solution. The collaboration aims to ensure investor onboarding and ongoing KYC/AML…

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Bit Coin

Bitcoin (BTC) RSI and MACD Generate Bullish Divergences Near $40,000 Support

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Bitcoin (BTC) RSI and MACD Generate Bullish Divergences Near $40,000 Support

Bitcoin (BTC) indicators are showing several short-term bullish signals above a strong support level, making a breakout above resistance a likely scenario.

Since Jan 8, BTC has been trading slightly above the $41,500 mark. Despite slipping to a local low of $39,650 on Jan 10, it bounced immediately and created a very long lower wick. This shows a great deal of buying pressure at this level.

More importantly, both the RSI and MACD have generated significant bullish divergences (green lines). These divergences normally present before significant upward movements. 

If an upward move transpires, it’s likely to be met by resistance around $50,930. This target is both the 0.382 Fib retracement resistance level and part of a horizontal resistance area.

Short-term BTC movement

The six-hour chart shows that BTC has broken out from a descending resistance line and validated it as support after (green icon). 

After a brief rebound, BTC created a slightly lower low on Jan 19. This served to validate the $41,200 area as minor support. 

BTC is also following another descending resistance line (dashed) in the shorter term. A breakout above it would likely take the price to $45,850. This target is the minor 0.5 Fib retracement resistance level and a horizontal resistance area.

Finally, the two-hour chart shows that BTC is potentially trading inside a descending wedge, which is considered a bullish pattern. Currently, it’s approaching the end of this pattern which has been in place since Jan 13. 

Similar to the daily time frame, the RSI has generated a considerable bullish divergence, supporting the possibility of a breakout.

So, when taking into account the ample support just below the price and numerous bullish divergences, an eventual breakout seems like the most likely scenario. 

This is also in line with the short-term wave count.

For BeInCrypto’s previous Bitcoin (BTC) analysis, click here.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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Cryptocurrency

BitMEX EARN adds support for bitcoin (BTC) with up to 6% APR

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BitMEX EARN adds support for bitcoin (BTC) with up to 6% APR

BitMEX, a crypto derivatives exchange and platform, today announced adding bitcoin to its EARN service. Now, users will be able to earn up to a 6% annual percentage rate (APR) on bitcoin (BitMEX-XBT).

For those who subscribe to EARN before February 1st, 2022, there is the option to choose between two bitcoin-based EARN products:

1) 4% APR bitcoin product

Matures on March 25th, 2022, and is capped at 0.1 XBT per user. The minimum deposit is 0.001 XBT.

2) 6% APR bitcoin product

Matures on March 25th,  2022, and is capped at 25 XBT per user. The minimum deposit is 1 XBT.

Active BitMEX traders who subscribe to this product will get the chance to enjoy even higher returns:

  • Users who trade USDT-margined products and maintain an average daily volume (ADV) of at least 500,000 USDT over the subscription period until maturity will earn an extra 2% above the base 6% APR.
  • Users who trade USDT-margined products and maintain an ADV of at least one million USDT over the subscription period until maturity will earn an extra 4% APR above the base 6% APR.

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Cryptocurrency

EMURGO to develop new dApp tool stack for Cardano blockchain

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EMURGO to develop new dApp tool stack for Cardano blockchain

EMURGO to develop new dApp tool stack for Cardano blockchain

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EMURGO, the official commercial arm of the Cardano blockchain, today announced the launch of a new Cardano ecosystem investment vehicle to invest in early startup and growth-stage companies focused on building socially impactful solutions…

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