🗞 Daily Crypto News, November, 15th💰

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(Edited)

  • What the CFTC Chairman Actually Said About Ether Futures and Ethereum 2.0 ;
  • DeFi Startup Compound Finance Raises $25 Million Series A Led by A16z ;
  • Blockchain.com Loan Desk On Track to Lend Over $120 Million In November ;
  • Bitcoin Price Defies ‘Death Cross’ as Bulls Pin Hopes on $9.1K Bounce ;
  • Andreessen Horowitz Leads $25M Funding Round for Crypto Lending Startup ;
  • 🗞 Daily Crypto News, November, 14th💰
  • STEEM Trading Update

Welcome to the Daily Crypto News: A complete Press Review, Coin Calendar and Trading Analysis. Enjoy!

🗞 What the CFTC Chairman Actually Said About Ether Futures and Ethereum 2.0

The Takeaway:

CFTC Chairman Heath Tarbert said last month that ether is a commodity, and he expects to see regulated ether futures in the U.S. in the next six months.

The ethereum network is expected to transition from its current proof-of-work consensus mechanism to a proof-of-stake model over the next year, in an upgrade known as Ethereum 2.0.

Asked about this shift, Tarbert said Tuesday the CFTC is still evaluating whether ether will remain a commodity under the new model.

Ethereum developers and proponents believe proof-of-stake may actually bolster the case that ether is “sufficiently decentralized” to be considered a commodity in the eyes of U.S. regulators.

🗞 DeFi Startup Compound Finance Raises $25 Million Series A Led by A16z

Lending protocol Compound Finance just raised $25 million in a round led by Andreessen Horowitz’s a16z crypto fund, marking one of the largest venture capital investments in a decentralized finance (DeFi) startup to date.

According to DeFi Pulse, Compound has nearly $103 million worth of crypto locked up in its automated system, which can generate returns for users comparable to interest. Today’s announcement of the Series A follows Compound’s $8.2 million seed round in 2018.

Much like MakerDAO’s loans, users can take collateralized loans with ethereum-based tokens, with the locked assets automatically liquidating if an independent “oracle” determines the price has dropped too low.

🗞Blockchain.com Loan Desk On Track to Lend Over $120 Million In November

United Kingdom-based cryptocurrency data and wallet provider Blockchain.com is reportedly on track to lend out more than $120 million this month.

On Nov. 14, the Block reported that Blockchain.com has been quietly building its loan desk to be competitive with firms like Genesis Global Trading and BlockFi.

CEO of Blockchain.com, Peter Smith, said that his lending business initially started out by making loans to other cryptocurrency lending firms on a “case-by-case basis.” While the company lent out around $10 million in new loans during the month of August, by the end of November the firm is expected to be on track to lend out $120 million.

Possible blow-up of crypto lending?

A group of former Wall Street traders told Bloomberg in October that the crypto credit business has been adding too much credit too fast and that it could be heading for a painful blow-up.

🗞 Bitcoin Price Defies ‘Death Cross’ as Bulls Pin Hopes on $9.1K Bounce

Bitcoin (BTC) price continues to trend lower, marking 5 consecutive lower highs as the price makes a stairstep decline in a falling wedge. Interestingly, the pattern is interpreted by many analysts as a signal of a potentially bullish outcome so perhaps there is still hope.

The price has pierced the $8,674 support three times over the past 4 days, increasing the chance that the price will drop to the lower trendline of the falling wedge at $8,480. The daily chart shows that Bitcoin had spent the week riding along the 200-DMA, a point which was lost earlier today.

The volume profile visible range (VPVR) shows a volume gap between $8,780 and $9,062, meaning the Bitcoin could rally 3.45% to $9,062, a point which would bring the price above the 50-DMA and slightly below the Bollinger Band indicator moving average at $9,121.

🗞Andreessen Horowitz Leads $25M Funding Round for Crypto Lending Startup

On Nov. 14, Fortune reported that Compound, a decentralized finance (DeFi) lending protocol, secured $25 million in an investment round led by Andreessen Horowitz’s a16z, with participation from other top investors including Paradigm, Bain Capital Ventures and Polychain Capital.

To integrate with crypto exchanges, custodians, wallets

Compound CEO and co-founder Robert Leshner said in an interview with Fortune that the company now has over $150 million in assets on its platform and that the fresh $25 million investment will go towards making the service more accessible to ordinary people. Andreessen Horowitz general partner Chris Dixon commented on the partnership:

“Compound is a lending protocol that is open to anyone in the world, that disintermediates banks and allows anyone to earn interest on their money [...] We’ve worked with Robert and his team for over two years and think they are world class technologists and entrepreneurs.”

🗞 Daily Crypto News, November, 15th💰

  • TRON (TRX)

"The #TRON cross-chain project will be available on Nov. 15th"

  • Bluzelle (BLZ)

CURIE release expected by early November 2019.

  • Zebi (ZCO)

"... We will give 90 days to all the ERC 20 token holders to swap out their tokens into Zebi coins."

  • General Event (CRYPTO), Power Ledger (POWR)

"Southstart is a gathering of the makers, doers and entrepreneurs of Australia and beyond. It’s not a conference. It’s a convergence..."

  • Fantom (FTM)

"Join our CMO @CryptoMHchn and technical advisor @AndreCronjeTech on the 15th of November for thoughts about the direction of Fantom..."

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STEEM Trading Update by my friend @cryptopassion

Here is the chart of my last analysis :

Here is the current chart :

Today, we had a new attempt to try to break the support line at 0.138$ and look the result. We are having a very nice bounce from this line. This time, I think it is a nice signal for the market to show that we cannot break that support line and than the only direction possible is a UP. Quiet good news at short term for the STEEM !

Last Updates

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