Cryptocurrency-uitwisselingen

First Mover Asia: DBS-banks kasserede detailbørs giver et lille slag til OSL


Selv efter nyheden brød ud, fortsatte aktien i OSL’s moderselskab, BC Technology Group, sin ugelange sejrsrække på Hong Kong-markederne med en stigning på 5%; bitcoin og ether er op.


God morgen. Her er hvad der sker:

Priser: Bitcoin og andre store kryptoer faldt tidligt i weekenden, men genvandt terræn og var oppe sent søndag.

Indsigt: DBS Banks beslutning om at opgive sine detailkryptoplaner påvirkede ikke aktiekursen på OSL-moderselskabet BC Technology Group, og det er usandsynligt, at det vil have en stor indvirkning på Singapores kryptoindustri.

Teknikerens holdning: BTC’s opadgående momentumsignaler forbliver intakte.

Priser

Bitcoin (BTC): $46.702 +1,2%

Ether (ETH): 3.544 USD +2,1 %

Top vindere

Asset Ticker Returns Sektor Dogecoin DOGE +5,6% Valuta Internet Computer ICP +5,4% Computing Filecoin FIL +4,9% Computing

Toptabere

Der er ingen tabere i CoinDesk 20 i dag.

Markeder

S&P 500: 4.545 -0,3 %

DJIA: 34.818 +0,4 %

Nasdaq: 14.261 -0,2 %

Guld: $1.925 +0,2

Bitcoin, ether stiger sent

Bitcoin startede weekenden stille og roligt, men sidst på søndagen var den største kryptovaluta målt efter markedsværdi steget over $47.300 på et tidspunkt, en stigning på 2,6 % fra 24 timer tidligere. BTC, som var faldet til under $46.000 tidligt lørdag, handlede for nylig til omkring $46.700.

Ether, den næststørste krypto efter markedsværdi, fulgte et lignende mønster, der faldt og vandt derefter terræn for at hoppe forbi $3.550-niveauet, en stigning på omkring 3% i samme tidsperiode.

Major altcoins were mixed, some rising and others falling slightly. Meme coin DOGE rose about 5% on at least one occasion from 24 hours earlier. DOGE alternative SHIB rose more modestly. Solana and Cardano recently rose 3% and 2%, respectively. Terra’s Luna token was off about 2%.

Trading was off from higher levels earlier in the week as is often the case on weekends.

Crypto’s late weekend surge veered slightly from major equity markets’ performance on Friday, which did little more than hold ground from the previous day. The tech-heavy Nasdaq and the S&P 500 fell slightly as investors seemed to be girding for the U.S. Federal Reserve and other central banks worldwide to continue more hawkish monetary policies.

Low interest rates and central bank stimulus that may jar an economy from a slumber lead to rising asset prices. But when inflation increases and the economy overheats, central banks reverse these accommodative policies, typically spurring higher market volatility.

Meanwhile, the macroeconomic environment remained as unsettled as it has been since Russia invaded Ukraine five weeks ago. After pictures emerged of horrific civilian casualties in Bucha, a town near the Ukraine capital Kyiv, Germany’s defense minister, Christine Lambrecht, said in a television interview that the European Union should consider halting Russian gas imports.

EU-bloklandene har modsat sig denne handling, frygtede for, at det ville sende deres økonomier ud i recession. Brent-råolie, et meget overvåget mål for energipriser, handlede til $102 pr. tønde, en massiv stigning fra det sted, hvor det startede året.

Alligevel er kryptorallyet i slutningen af ​​sidste måned muligvis ikke overstået, sagde Joe DiPasquale, administrerende direktør for fondsforvalteren BitBull Capital.

“Bitcons konsolidering over $46.000 vil være nøglen til en bullish fortsættelse mod $50.000-milepælen,” sagde DiPasquale og slog en forsigtigt optimistisk tone. “Selvom vi så afvisning omkring $48.000, så længe BTC forbliver over $46.000, kan tyre håbe på endnu et træk. Hvis vi taber disse niveauer i den nye uge, er en anden test af de lave $40Ks sandsynligvis scenariet.”

Indsigt

DBS crypto reversal skader OSL, men kun lidt

DBS’s about-face decision on a retail crypto exchange – canceling its plans to open one by the end of 2022 – leaves us with two questions: Is this another chapter in Singapore’s continued tightening of crypto regulations? And will this stymie OSL, the Hong Kong-based institutional exchange that provides DBS with exchange software?

The answer to both is, not really.

It’s not a secret that authorities in Singapore aren’t fans of retail crypto trading. Earlier this year, regulators banned direct-to-consumer marketing for exchanges and told crypto ATM operators to turn off their machines. It also put DeFiance Capital, one of the larger crypto funds in the city-state, on an investor alert list because it was “wrongly perceived as being licensed or regulated by the Monetary Authority of Singapore.”

But Singapore hasn’t changed its tone on institutional investment in crypto. That has always been what the country has been interested in developing as a hub, not retail, which requires nanny-like regulations to ensure amateur traders leveraging their retirement savings don’t get rekt when their crypto position is liquidated. Needing to regulate with a heavy hand isn’t what Singapore wants.

If DBS were to actually launch a retail crypto exchange it wouldn’t look like what many retail traders are used to seeing. There would be a limited selection of tokens, and decentralized finance (DeFi) would definitely be out of the question. While there would undoubtedly be an element of convenience because of the integration with the bank, it would be challenged to attract significant volume because it wouldn’t be competitive with leading exchanges in terms of features.

In its recent earnings, OSL’s parent, BC Technology Group, highlighted its Software-as-a-Service (licensing its exchange software to other entities) as a growth point.

The company cites “service fees from SaaS of HK$10.1 million (US$1.2 million), an increase of 104.2% year over year,” as a driver of this quarter’s growth, specifically naming its partnership with DBS as a way to expand the business past institutional only and on to retail.

But against group revenue of HK$352 million (US$45 million), this amount is insignificant.

“OSL’s institutional exposure and licensed status far eclipse that slight negative,” Esme Pau, an analyst with Tonghai Securities, told CoinDesk. “With [its] core business in serving professional investors. OSL is a proxy to digital assets institutionalization. In the broader scheme of things, increasing regulatory clarity is the definite future direction of travel for digital assets.”

Investorerne så heller ikke ud til at være ligeglade. Selv efter nyheden kom, fortsatte aktien sin ugelange sejrsrække på Hong Kong-markederne med en stigning på 5%.

Tonghai forudser, at selskabet vil give overskud på mellemlang sigt i betragtning af den konkurrencedygtige voldgrav, det har som den eneste licenserede børs i Hong Kong – et meget større og mindre konkurrencedygtigt marked end DBS’ detailkryptospil.

Teknikerens holdning

Bitcoin ugentlige prisdiagram viser støtte/modstand med MACD i bunden. (Damanick Dantes/CoinDesk, TradingView)

Bitcoin (BTC) afviste kortsigtet støtte til $44.000, da momentum blev forbedret.

Kryptovalutaen er steget 5% i løbet af den seneste uge, selvom modstand på $48.000 og $50.996 kunne standse rallyet, svarende til hvad der skete i september sidste år.

This time, however, pullbacks could be brief, so long as buyers defend support above $43,000-$45,000. Further, the significant loss of downside momentum, per the MACD indicator, over the past few weeks could encourage additional buying on price dips.

The relative strength index (RSI) on the daily chart is approaching neutral territory after an overbought reading appeared on March 28. That suggests a pause in the current price rally, which typically occurs during the beginning of the month.

For nu tester BTC support omkring sit tidligere breakout-punkt på $45.000. Opadrettede udmattelsessignaler, ifølge DeMARK-indikatorerne, gav en rettidig modtrend-vending set-up tidligere på ugen, selvom en fortsættelse af dette salgssignal ikke er blevet bekræftet. Det betyder, at prishandling i øjeblikket er neutral i afventning af en afgørende pause over eller under fem-dages prisinterval.

Vigtige begivenheder

Celo Connect digital konference med projektledere og investorer

9:30 HKT/SGT(1:30 UTC): Australien og New Zealand Banking Group jobannoncer (marts)

22:00 HKT/SGT (14:00 UTC): amerikanske fabriksordrer (MoM marts)

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Teknikerens holdning: BTC’s opadgående momentumsignaler forbliver intakte.

Source: https://www.fxstreet.com/cryptocurrencies/news/first-mover-asia-dbs-banks-ditching-retail-exchange-delivers-a-small-blow-to-osl-202204040026

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