The alternative trading system (ATS) is set to be a trading venue that matches buyers and sellers for both digital and traditional assets, if approved by the US Securities and Exchange Commission (SEC).
Opening Privileged Services to the Public
As announced by Anchorage, Prometheum CEO Aaron Kaplan stated that the ATS application is still pending at the U.S. Securities and Exchange Commission (SEC). Notwithstanding the approval, the company has built a system that allows brokerage firms and clearing firms to speak to each other easily in an effort to win over Wall Street companies to use a platform with which they’re familiar.
Currently this kind of service is only open to accredited and institutional investors, but Prometheum Ember ATS (“PEATS”) will be available to the public as well.
A public ATS for digital assets will allow more efficient order matching and better price discovery, bringing smaller price spreads and simplified participation for all investors,
Aaron Kaplan, Prometheum CEO
When the ATS goes live, Prometheum will be a full-service SEC and FINRA registered electronic market integrating both traditional and blockchain technology for the trading of digital asset securities, with on-chain custody and settlement provided by Anchorage Digital Bank.
Anchorage’s bank charter allows it to hold digital assets for broker-dealers and their clients, said Anchorage CEO Nathan McCauley. ATS itself “is something that is a trading system but it’s not regulated as an exchange.”
Other ATS providers for digital securities include OpenFinance and the Public Private Execution Network. Security token firm Securitize applied for both a broker-dealer license and an ATS in October.
Adding more ATS platforms for the digital security market will give issuers more liquidity for their tokens
Nathan McCauley, Anchorage CEO
During its charting process, Anchorage got specific approval from the Office of the Comptroller of the Currency (OCC) to custody security tokens on behalf of broker-dealers, McCauley added. The bank plans to offer cash loans with security tokens acting as collateral. Regulatory foundations are being set by these landmark organisations and act as support for the first public market for digital asset securities.
In this article, we’ll cover how to get exposure to groups of markets instantly by using FTX Perpetual Futures markets. Which could be a useful way to get exposure without all the hassle of buying the individual assets.
Available markets of interest:
SHIT-PERP (index for a group of coins with lower marketcap often referred to as “shitcoins”).
DEFI-PERP (index for a group of coins associated with DeFi).
EXCH-PERP (index for a group of coins associated with Exchanges).
The markets indexes are calculated as a percentage of the median. ie the quantities of the specific coins held are balanced out to get a good spread of coverage between the coins in the index.
Example of the Shitcoin Index
You can trade both up and down on the SHIT-PERP market, which tracks the price of a basket of low-market-cap coins, using a weighed average of their prices. Get diversified exposure to 50 different coins with one future!
FTX Futures Shitcoin Index
If you’re unsure on what futures are, then you can read about them here.
The Cryptocurrency NPXS just went up +74% in a single day by breaking a Rising wedge pattern with strong buying volume and surges over +120% in a week.
What is NPXS?
Pundi X (NPXS) aims to make the use of cryptocurrency as a form of payment, a reality for retailers and consumers alike. By applying the technology to a series of real-world use cases such as cards and the XPOS point-of-sale devices, the team has built products that could accept the NPXS token for goods and services. With the goals of supporting retail intelligence, marketing & loyalty programs as well as inventory & order management systems, the Pundi X Point-of-Sale device could help to support digital commerce worldwide.
NPXS Quick Stats
SYMBOL:
NPXS
Global rank:
74
Market cap:
$1,483,133,873 AUD
Current price:
$0.007274
All time high price:
$0.0201AUD
1 day:
+74.41%
7 day:
+120.79%
1 year:
+4313.95%
NPXS Price Analysis
At the time of writing, NPXS is ranked 74th cryptocurrency globally and the current price is $0.007274 AUD. This is a +120.79% increase since 13th March 2021 (7 days ago) as shown in the chart below.
If we see the above 1-hour candle chart, NPXS did a strong parabolic breakout from the rising wedge pattern while trading sideways from the last few days around $0.005624 AUD price levels & is now heading towards its major resistance around $0.009588 AUD. After BTC made a new all-time high in its price and Altcoins are also rising in a bullish trend, NPXS looks well-positioned to hit the next high price levels.
“A rising wedge is a technical indicator, suggesting a reversal pattern frequently seen in bear markets. This pattern shows up in charts when the price moves upward with pivot highs and lows converging toward a single point known as the apex.”
What do the technical indicators say?
The NPXS TradingView indicators (on the 1 day) mainly indicate NPXS as a buy, except the Oscillators which indicate NPXS as a neutral.
So Why did NPXS Breakout?
General market sentiment suggests we are in the middle of the bull run season which could have contributed to the recent breakout. Another reason for this sudden pump in price could be the whales secretly buying NPXS for the next Altcoins rally & it could also be contributed to some of the recent news of the token redenomination swap on 30th March 2021.
Dear Pundians, #NPXS will be #PUNDIX. The token redenomination swap will commence from 14:00 GMT+8 on March 30, 2021. Here are the details you need to know: https://t.co/O8qFYItQfO
PundiX NPXS has the highest liquidity on Binance Exchange so that would help for trading NPXS/USDT or NPXS/ETH pairs. However, if you’re just looking at buying some quick and hodling then Swyftx Exchange is a popular choice in Australia.
For today’s trading news, we’re looking at three Altcoins that might breakout this week by showing bullish trends in the charts.
1. Litecoin (LTC)
Litecoin is a cryptocurrency that was designed to provide fast, secure, and low-cost payments by leveraging the unique properties of blockchain technology.
The cryptocurrency was created based on the Bitcoin protocol, but it differs in terms of the hashing algorithm used, hard cap, block transaction times, and a few other factors. Litecoin has a block time of just 2.5 minutes and extremely low transaction fees, making it suitable for micro-transactions and point-of-sale payments.
Litecoin Price Analysis
At the time of writing, LTC is ranked 9th cryptocurrency globally and the current price is $261.43 AUD. Let’s take a look at the chart below for price analysis.
March brought an instant turn in LTC’s retracement as the price pumped nearly +41% into the resistance near $256 AUD.
A daily gap and down candle between $238 AUD and $215 AUD may support a push through the high of around $297 AUD.
Bulls looking for longer-term plays could wait for a retracement to probable support near $210 AUD and potentially down to support at $195 AUD.
Extensions based on February’s retracement suggest that $385 AUD and $470 AUD may be the following primary targets. The swing high’s resistance near $296 AUD provides a logical area to take first profits.
2. VeChain (VET)
VeChain is a blockchain-powered supply chain platform. VeChain aims to use distributed governance and Internet of Things (IoT) technology to create an ecosystem that solves some of the major problems with supply chain management.
The platform uses two in-house tokens, VET and VTHO, to manage and create value based on its VeChainThor public blockchain. The idea is to boost the efficiency, traceability, and transparency of supply chains while reducing costs and placing more control in the hands of individual users.
VeChain Price Analysis
At the time of writing, VET is ranked 18th cryptocurrency globally and the current price is $0.0983 AUD. Let’s take a look at the chart below for price analysis.
VET shot up nearly +84% from the February open as the price aggressively challenges the last high and resistance near $0.0985 AUD.
Bulls waiting to get on board could watch support near $0.0853 AUD, just above the series of swing highs near $0.0834 AUD.
A deeper retracement to end the month could reach as low as $0.0755 AUD, which would run the swing lows down to $0.0735 and provide a better entry.
Overlapping extensions hint at the areas around $0.1145 AUD and $0.1250 AUD as logical take-profit zones.
3. Stellar (XLM)
Stellar is an open network that allows money to be moved and stored. One of its goals was boosting financial inclusion by reaching the world’s unbanked — but soon afterward, its priorities shifted to helping financial firms connect with one another through blockchain technology.
The network’s native token, lumens, serves as a bridge that makes it less expensive to trade assets across borders. All of this aims to challenge existing payment providers, who often charge high fees for a similar service.
Stellar Price Analysis
At the time of writing, XLM is ranked 13th cryptocurrency globally and the current price is $0.4919 AUD. Let’s take a look at the chart below for price analysis.
XLM’s bullish February turned into March consolidation, which is likely to break upward if market conditions remain bullish.
Support may be forming around the current area near $0.5021 AUD, giving bulls an aggressive entry with a wide stop.
A sweep of February 23rd’s low near $0.4125 AUD into the support just below would give a much higher risk-reward entry. If the price drops this far, it could reach support near $0.3846 AUD.
Overhead, several layers of resistance rest near $0.5381 AUD, $0.6137 AUD, and $0.6641 AUD. Confident bulls could take profits at the swing highs accompanying this resistance.
More patient bulls waiting for higher risk-reward entries could watch for setups to form in potential retracements from these levels.
Where to Buy or Trade Altcoins?
These 3 Altcoins have the highest liquidity on Binance Exchange so that would help for trading on USDT or BTC pairs. However, if you’re just looking at buying some quick and hodling then Swyftx Exchange is an easy to use popular choice in Australia.
Vite coin is trading in an uptrend here like many other altcoins. The Cryptocurrency VITE just went up +80% in a single day by breaking a Falling wedge pattern with strong buying volume and surges over +123% in a week.
What is Vite?
Vite has built a Directed Acyclic Graph (DAG) based smart-contract platform, with a Snapshot Chain structure to facilitate zero-fee transactions and optimize transaction speed, reliability, and security. The Snapshot Chain of Vite utilizes Hierarchical Delegated Proof of Stake (“HDPoS”) to achieve network consensus, while supernodes take only staking rewards and no transaction fees. Vite virtual machine maintains compatibility with EVM, and utilizes asynchronous smart contract language, Solidity++.
The VITE token is the currency for simple token transactions and smart-contract executions on the Vite network, with users staking VITE for transaction quota instead of consuming gas. VITE can also be used to vote for Snapshot Block Producers (aka supernodes). In addition, a VITE staker with an unused transaction quota can lease such quota to dApps in exchange for their tokens. For instance, users can stake VITE in exchange for ViteX’s native decentralized exchange token, VX.
VITE Quick Stats
SYMBOL:
VITE
Global rank:
395
Market cap:
$84,847,245 AUD
Current price:
$0.1867 AUD
All time high price:
$0.2203 AUD
1 day:
+80.38%
7 day:
+123.96%
1 year:
+814.94%
VITE Price Analysis
At the time of writing, VITE is ranked 395th cryptocurrency globally and the current price is $0.1867 AUD. This is a +123.96% increase since 4th March 2021 (7 days ago) as shown in the chart below.
After looking at the above candle chart, we can clearly see that VITE was trading inside the falling wedge pattern on the VITE/BTC pair. The first resistance was on the $0.1146 AUD price levels which VITE broke with a strong bullish trend buying volume and is now heading towards the all-time high price in AUD. Seeing that many altcoins are holding strong this week, VITE is likely to continue to increase in the uptrend if the traders keep buying with high volume.
“The Falling Wedge is a bullish pattern that begins wide at the top and contracts as prices move lower. This price action forms a cone that slopes down as the reaction highs and reaction lows converge.”
What do the Technical indicators say?
The Vite Coin TradingView indicators (on the 1 day) mainly indicate VITE as a buy, except the Oscillators which indicate VITE as a neutral.
So Why did VITE Breakout?
General market sentiment suggests we are in the middle of the bull run season which could have contributed to the recent breakout. Another reason for this sudden pump in price could be the whales secretly buying VITE for the next Altcoins rally & it could also be contributed to some of the recent news of the VITE Integration with Binance Smart Chain.
#BSC#ViteX . 👏Welcome to Binance smart Chain @binance ViteX DEX @ViteXExchange will integrate #BSC . Development 30% completed. with integration upgrades for the Vite App and Web Wallet. ViteX will list the top projects from BSC’s ecosystem and BEP-20 USDT will be added pic.twitter.com/nkhxFRnV9a
Vite has the highest liquidity on Binance Exchange so that would help for trading VITE/BTC or VITE/USDT pairs. However, if you’re just looking at buying some quick and hodling then Swyftx Exchange is a popular choice in Australia.
New research on the Ethereum blockchain has revealed at least $318M worth of ETH was made in profits through DeFi bot arbitrage trading since the beginning of 2020.
The data shows that the technique has netted at least $57M USD (47,600 ETH) in January 2021 and at least $107M USD for February 2021. Before analysing a couple of real-world cases, here is a quick primer on the theory.
What is Triangular Arbitrage?
In plain English, the price of the cryptocurrencies can vary across different exchanges and you can swap them to make a profit.
Triangular arbitrage (also referred to as cross-currency arbitrage or three-point arbitrage) is the act of exploiting an arbitrage opportunity resulting from a pricing discrepancy among three different currencies […]. A profitable trade is only possible if there exist market imperfections. Profitable triangular arbitrage is very rarely possible because when such opportunities arise, traders execute trades that take advantage of the imperfections and prices adjust up or down until the opportunity disappears.
Highly-volatile new DeFi crypto markets provide market imperfections which don’t often exist in Forex exchange markets – creating opportunities for arbitrage traders.
Let’s now take a look at recent examples of Triangular Arbitrage trades.
Real Trading Example #1
This trade uses the programmable DeFi liquidty pools of Uniswap and Balancer and the 3 coins: USDC (stablecoin), OPT, and AKRO.
As you can see, there was a profit made by selling on one platform, swapping and then buying on the other platform. It is also worth noting that currently DeFi transactions are fees are very high, but they still made a profit.
Real Trading Example #2
This example is slightly different to the first one, as this trade uses SushiSwap and Balancer and the 3 coins: USDC (stablecoin), ETH, and SIL (an old ICO coin called Silvar Coin).
What makes this trade different is that the contract has SELF DESTRUCT sub-contracts attached where the sender continuously re-bids the same trade but at higher GAS fees to protect it from other trading bots that noticed the same opportunity. This has a bi-product negative effect on the Ethereum blockchain by have pushing up the GAS fee ridiculously high and congesting the network.
DeFi Exchanges Usage
The majority of profits are being made using Uniswap with 47% of the total trades, followed by Sushiswap 22%, Balancer 13% and dYdX 9.4%.
Image by MEV Explorer
Further Arbitrage Trade Musings
As the Ethereum blockchain is public, these arbitrage trades can be tracked and there is a website called Flashbots which has a leaderboard showing all the recent trades.
Here are some interesting ones:
This successful trade on Uniswap between $AKRO, $PICKLE, $CREAM, $YFI, $KP3R, $SUSHI and $YPIE turning 3 ETH into 153 ETH, with a profit of $188,867 USD (including a massive $13,021 USD transaction fee!)
This successful trade on Uniswap between $ETH, $UDO and $USDT turning 0.4 ETH into 59 ETH, with a profit of $78,836 (including a massive $17,667 USD transaction fee!)
This failed trade on Cream Finance where the sender ran out of GAS while trying to attempt an arbitrage trade. Luckily (or so) there was another trader waiting and their trade was successful in capturing the arbitrage opportunity making around $5,362 USD profit.
Averting the ETH Network Congestion Crisis
As the Ethereum community tries to improve the network, there is a proof of concept being developed to help the solve the problem of trading bots congesting the network by prioritising the transactions. If you want to contribute there is a public discussions board on Github.
For today’s trading news, we’re looking at three Altcoins that might breakout this week by showing bullish trends in the charts.
1. Cardano (ADA)
Cardano is a proof-of-stake blockchain platform that says its goal is to allow “changemakers, innovators and visionaries” to bring about positive global change.
The open-source project also aims to “redistribute power from unaccountable structures to the margins to individuals” — helping to create a society that is more secure, transparent, and fair.
Cardano Price Analysis
At the time of writing, ADA is ranked 3rd cryptocurrency globally and the current price is $1.60 AUD. Let’s take a look at the chart below for price analysis.
February provided respectable +348% gains for bulls who bought at the monthly open, with the price finding resistance near $1.58 AUD last Saturday.
If bulls take back control this week, the top of the former gap beginning at $1.36 AUD may provide support for at least a short-term bounce. The top of the consolidation range starting near $1.25 AUD is more likely to provide substantial support.
The most robust support is likely to be found in the overlapping consolidation ranges between $1.12 AUD and $0.95 AUD, with a sharp slice through these levels possibly suggesting the end of the bull run.
The region from approximately $1.46 AUD to the most recent swing high is likely to provide some resistance. The swing high provides a reasonable first target for a possible next leg up.
If this high breaks, the 1.0 extension near $2.28 AUD and the 2.0 extension near $2.86 AUD may provide the next primary targets.
2. Dusk Network (DUSK)
Dusk Network describes itself as a blockchain for programmable and confidential securities, powered by Zero-Knowledge proofs and novel Private PoS leader extraction-based consensus protocol. Dusk Network is a privacy blockchain for financial applications. It is a layer-1 blockchain that powers the Confidential Security Contract (XSC) standard and supports native confidential smart contracts.
Dusk Network aims to address the requirements and needs of financial markets. Central to its design is a scalable public infrastructure, direct settlement finality of transactions, and strict data privacy.
DUSK Price Analysis
At the time of writing, DUSK is ranked 292nd cryptocurrency globally and the current price is $0.3312 AUD. Let’s take a look at the chart below for price analysis.
Last month’s bulls enjoyed +300% gains at DUSK’s peak before the price confirmed stiff resistance beginning at $0.2876 AUD.
The four-hour chart shows that support may be forming between $0.2263 AUD and $0.2498 AUD, near the monthly open.
Aggressive bulls could enter in this area, although safer entries may be found much further below near $0.1670 AUD and $0.1473 AUD after a sweep of the current consolidation’s swing lows.
The last swing high near $0.3288 AUD provides a likely first target if the price does bounce from this region. Beyond this swing high, the 1.0 extension near $0.5824 AUD and the 2.0 extension near $0.7957 AUD may provide the next major targets.
3. Kava.io (KAVA)
Kava is a cross-chain DeFi lending platform that allows users to borrow USDX stablecoins and deposit a variety of cryptocurrencies to begin earning a yield.
The Kava DeFi hub operates as a decentralized bank for digital assets, allowing users to access a range of decentralized financial services, including its native USD-pegged stablecoin USDX, as well as synthetics and derivatives. Through Kava, users are able to borrow USDX tokens by depositing collateral, effectively leveraging their exposure to crypto-assets.
KAVA Price Analysis
At the time of writing, KAVA is ranked 128th cryptocurrency globally and the current price is $5.26 AUD. Let’s take a look at the chart below for price analysis.
KAVA’s +161% February run retraced almost to its origin, narrowly missing probable support near $3.98 AUD before bears swatted down the bounce near resistance around $4.85 AUD.
With the daily gap between $3.66 AUD and $3.75 AUD below this level. However, the safer entry is still in probable support between $3.90 AUD and $3.83 AUD, which would also sweep the lows of last week’s bounce.
The relatively equal highs near $5.45 AUD provide a likely first target on lower timeframes. However, the resistance beginning at $5.33 AUD may initially suppress a further move up.
A clean breakthrough this resistance will need to contend with the next resistance near $5.40 AUD, under the last swing high. This swing high at $5.80 AUD gives a reasonable take-profit area before a possible move to the 1.0 extension near $8.55 AUD.
Where to Buy or Trade Altcoins?
These 3 Altcoins have the highest liquidity on Binance Exchange so that would help for trading on USDT or BTC pairs. However, if you’re just looking at buying some quick and hodling then Swyftx Exchange is a popular choice in Australia.
Fantom FTM is trading in an uptrend here like many other altcoins. The Cryptocurrency FTM just went up +73% in a single day by breaking a Falling wedge pattern with strong buying volume and surges over +272% in a week.
What is Fantom?
Fantom is a directed acyclic graph DAG smart contract platform providing decentralized finance DeFi services to developers using its own bespoke consensus algorithm.
Together with its in-house token FTM, Fantom aims to solve problems associated with smart-contract platforms, specifically transaction speed, which developers say they have reduced to under two seconds.
FTM Quick Stats
SYMBOL:
FTM
Global rank:
44
Market cap:
$2,450,093,091 AUD
Current price:
$1.02 AUD
All time high price:
$1.12 AUD
1 day:
+73.38%
7 day:
+272.96%
1 year:
+11172.81%
FTM Price Analysis
At the time of writing, FTM is ranked 44th cryptocurrency globally and the current price is $1.02 AUD. This is a +272.96% increase since 19th February 2021 (7 days ago) as shown in the chart below.
After looking at the above candle chart, we can clearly see that FTM was trading inside the falling wedge pattern on the FTM/USD pair. The first resistance was on the $0.5672 AUD price levels which FTM broke with a strong bullish trend buying volume and is now heading towards the all-time high price in AUD. Seeing that many altcoins are crashing this week, FTM is likely to continue to increase in the uptrend.
“The Falling Wedge is a bullish pattern that begins wide at the top and contracts as prices move lower. This price action forms a cone that slopes down as the reaction highs and reaction lows converge.”
General market sentiment suggests we are in the middle of the bull run season which could have contributed to the recent breakout. Another reason for this sudden pump in price could be the whales secretly buying FTM for the next Altcoins rally & it could also be contributed to some of the recent news of the following 3 reasons why FTM price continues to surge high:
Yearn. Finance helps facilitate a cross-chain bridge to Ethereum
On-chain governance boosts community involvement
Fantom plans to integrate staking and DeFi features
#Fantom price continues to chase new highs as a potential collaboration with YFI, a cross-chain bridge between Ethereum and the successful rollout of liquid staking strengthen $FTM’s fundamentals https://t.co/QvEYRrRbVo
Fantom has the highest liquidity on Binance Exchange so that would help for trading FTM/BTC or FTM/USDT pairs. However, if you’re just looking at buying some quick and hodling then Swyftx Exchange is a popular choice in Australia.
For today’s trading news, we’re looking at three Altcoins that might breakout this week by showing bullish trends in the charts.
1. Dogecoin (DOGE)
Dogecoin (DOGE) is based on the popular “Doge” Internet meme and features a Shiba Inu on its logo. The open-source digital currency was created by Billy Markus from Portland, Oregon, and Jackson Palmer from Sydney, Australia, and was forked from Litecoin in December 2013. Dogecoin’s creators envisaged it as a fun, light-hearted cryptocurrency that would have greater appeal beyond the core Bitcoin audience since it was based on a dog meme. Tesla CEO Elon Musk posted several tweets on social media that Dogecoin is his favorite coin.
Dogecoin Price Analysis
At the time of writing, DOGE is ranked 12th cryptocurrency globally and the current price is $0.0751 AUD. Let’s take a look at the chart below for price analysis.
Last week retested the high of DOGE’s +1100% January pump to $0.1092 AUD.
Despite highly manipulated price action, traders could still hunt for lower-timeframe longs. Monday’s retest of the area between $0.0643 AUD and $0.0589 AUD showed some signs of support.
The area between $0.0532 AUD and $0.0498 AUD contains a gap that overlaps with the 0.705 retracement, which increases its chances of giving support. The level near $0.0468 AUD could also form support, although with a higher risk of breaking on a retrace to January’s open.
While the higher-timeframe market structure remains bullish, probable resistance has formed between $0.0713 AUD and $0.0856 AUD, Traders satisfied with their profits could look to exit here if the price returns to this level.
More hopeful bulls could aim for the highs near $0.0985 AUD. If the price breaks through this level, it could reach the 0.27 extension near $0.1253 AUD, with a sustained breakout possibly touching the 1.0 extension near $0.1752 AUD.
2. PundiX (NPXS)
Pundi X is a leading developer of blockchain-powered devices with the aim of transforming retail businesses with its blockchain-based point of sale solution. The solution allows retail merchants and consumers to conduct instantaneous in-store transactions on its blockchain.
The company, which has its headquarters in Singapore, has shipped its XPOS solution and devices to over 25 markets including the United States, Spain, Argentina, Korea, Australia, Colombia, Spain, and Taiwan.
NPXS Price Analysis
At the time of writing, NPXS is ranked 124th cryptocurrency globally and the current price is $0.0012 AUD. Let’s take a look at the chart below for price analysis.
February provided NPXS holders with a respectable +233% return before the price returned to a range around $0.001 to consolidate.
Monday retested a lower-timeframe 0.62 retracement level, which overlaps with a gap beginning at $0.00081 AUD. This level could provide support during the consolidation and potentially offer an aggressive entry on a local lows retest.
The gap near $0.00065 AUD provides a lower risk-reward entry, while a full retrace of January’s move could reach probable support near $0.00048 AUD, just above the February monthly open.
The recent equal highs near $0.00109 AUD cap a resistance area down to $0.00102 AUD while providing a likely near-term target. Probable resistance technically reaches up to the last significant swing high at $0.00175 AUD. Still, a break of this resistance could reach the 0.27 extension at $0.00195 AUD and potentially the 1.0 extension at $0.00253 AUD.
3. Secret (SCRT)
Secret is the native coin of the Secret Network, a decentralized network for private/secure computation. Nodes on the network (known as secret nodes) can perform generalizable computations over encrypted data, which allows smart contracts (known as secret contracts) to use private and sensitive data as inputs. Our focus is on computational privacy, not just transactional privacy. Developers can build decentralized, privacy-preserving “Secret Apps” on the network. The privacy functionality of the Secret Network is critical for many fields, including decentralized finance, Web3, machine learning, access control, and many more.
SCRT Price Analysis
At the time of writing, SCRT is ranked 151st cryptocurrency globally and the current price is $3.12 AUD. Let’s take a look at the chart below for price analysis.
SCRT launched nearly +180% upward during February before retracing on Monday to the gap beginning near $2.86 AUD.
Below this gap, the next likely areas of support begin at $2.24 AUD and $1.95 AUD in the consolidation that spawned February’s bullrun.
Equal highs near $2.98 AUD, over the resistance beginning near $2.613 AUD, provide a tempting first target. February’s swing high near $3.65 AUD gives a second target. A move through these levels could reach the .27 extension near $3.78 AUD
If the current support holds, overlapping extensions near $3.95 AUD and $4.36 AUD could hint at the next resistance areas.
Where to Buy or Trade Altcoins?
These 3 Altcoins have the highest liquidity on Binance Exchange so that would help for trading on USDT or BTC pairs. However, if you’re just looking at buying some quick and hodling then Swyftx Exchange is a popular choice in Australia.
Just when cryptocurrencies are becoming increasingly popular among Australians following the recent surges in price, an international broker, FBS is expanding in the country with cryptocurrency trading support targeted at Aussie FX traders. The development today would further strengthen the support and accessibility of digital currencies in the forex market, not just fiat currency and stock trading.
Crypto Adoption Among FX Traders
The development today is coming after the broker received a regulatory permit from the Australian Securities and Investments Commission (ASIC). As an ASIC-certified trading platform, the company will provide its cryptocurrency instruments alongside forex and stock trading to Australians in compliance with the ASIC regulations, according to the report on Tuesday.
Interestingly, FBS will equally debut Sharia-compliant cryptocurrency trading services for Islamic traders in the country, as their platform supports a “swap-free option for traders who cannot receive or pay the interest due to their faith.”
It’s worth mentioning that FBS would only add to the list of cryptocurrency brokers available in Australia; not the first. Already, eToro offers Contracts for Difference (CFD) on 16 digital currencies, including Bitcoin, Ether, Bitcoin Cash, Ripple, and others. Other crypto brokers in the country include Plus500, IG, and Pepperstone, all of which offer CFDs for not less than five cryptocurrencies.
The increase in the number of crypto brokers in Australia would strengthen the FX-crypto market, thereby creating another entry or capital inflow source for the Aussie crypto market.
Interest in Cryptocurrency Keeps Soaring in Australia
It’s no doubt that Australians are increasingly picking interest in digital currencies, probably due to the increases in market value and news of institutional adoption. Recently, Crypto News Australia reported a 132 percent increase in the volume of unique searches for cryptocurrencies on TradingView, between July 2020 and January 2021. A separate report also confirmed the growing interest in cryptocurrencies among teenagers in Australia.
Already, crypto exchanges like Binance Australia, are seeing increases in user activity.
