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OceanEx completes successful funding round

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Source: MagicFew

OceanEx, one of the fastest-growing and reputable cryptocurrency exchange in the world, today announced that it has raised millions of dollars in Series A funding. The round was led by Fenbushi Capital, with participation from several other investors.

Bo Shen, Founding Partner of Fenbushi Capital said,

Fenbushi Capital identifies with OceanEx’s development concept and core value of building an infrastructure that enables the freedom of value exchange globally and accelerates the inevitable future of blockchain economy. We are excited to work together with OceanEx to bring the highest quality exchange to the market.”

Xiaoning Nan, Founder & CEO of OceanEx stated,

“Our vision of providing global users a secure and transparent digital asset exchanging platform fully aligns with Fenbushi Capital and other investors. Joining hands, we seek to make a remarkable impact on industry growth. Moving forward, we will plow into achieving global compliance proactively, and our users can expect fiat-to-crypto trading very soon.”

While constantly improving its institutional service, OceanEx is sparing no efforts in delivering innovation into financial products, such as contract trading, perpetual contract, and upgraded CryptoFarm product. The next-generation asset management platform and fastest-growing cryptocurrency exchange will also be offering solid blockchain project IEO on OceanEx GO in the nearby future.

Founded in 2018, OceanEx has become one of the

fastest-growing cryptocurrency exchanges within six months. As of today, OceanEx is ranked at top 60 on CoinMarketCap’s Top Cryptocurrency Exchanges by Trading Volume.

Committed to achieving regulatory compliance globally, OceanEx has been deploying bank-level SSL secure technology and advanced machine learning algorithms to actively detect attacks and safeguard users’ assets and transactions. In May 2019, OceanEx was invited into CoinMarketCap’s Data Accountability & Transparency Alliance to provide “greater transparency, accountability, and disclosure from projects in the crypto space” alongside other top exchanges including Binance, OKEx, and Huobi.

About OceanEx

Launched by BitOcean Global in 2018, OceanEx is an AI-powered digital asset trading platform. The platform is fortified by deploying cutting-edge AI technologies, providing an actively protected and ultra-liquid cryptocurrency trading market, full-fledged quantitative trading capabilities, a rich set of investment tools and products that meet a wide spectrum of investment strategies from all types of investors. For more information, please visit the website.

About Fenbushi Capital

Founded in 2015, Fenbushi Capital is the first China-based venture capital firm that exclusively invests in Blockchain-ended companies. With a mission of accelerating the inevitable future of Blockchain economy by supporting as many companies as possible, Fenbushi strongly believes Blockchain technology will play an important role in bringing much more transparency, efficiency, and robustness into the global economy. For more information, please visit the website.

Source:ambcrypto

Cryptocurrency

80% Of Central Banks Are Working On Launching Their Own Cryptocurrency, BIS Report Says

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A recent survey from the Bank for International Settlements (BIS) confirms the emerging trend of digital currencies backed by central banks. The publication reveals that 80% of the participants have declared that they are currently working on issuing their own cryptocurrency.

CBDCs: Coming From Most Banks

The survey was compiled by BIS at the end of 2019 and contains the answers from 66 central banks around the world. Twenty-one came from advanced economies and forty-five from emerging market economies (EMEs).

The study firmly concludes that 80% of all participants are in the process of creating their own central bank digital currency (CBDC). This showcases a 10% increase since last year. Additionally, 40% have already progressed from conceptual research to experiments, and 10% have developed pilot projects.

Interestingly enough, all central banks that are already testing their future CBDC come from an emerging market economy. The report explains it with the higher motivation coming from these countries:

“EMEs generally have stronger motivations than advanced economies to work on general-purpose CBDCs (which can act as a substitute or complement to banknotes). Domestic payments efficiency, payment safety, and financial inclusion were, on average, all considered “very important” in this respect for EMEs. For advanced

economies, the only motivation ranked as very important was payment safety.”

When asked about the purpose of the digital currency, 15% said that their asset will focus on wholesale. Approximately 35% noted “general purpose,” and the others answered that they are aiming for both.You Might Also Like:

  • Bitcoin Price Finds Crucial Support Ahead Of Chinese New Year: Crypto Weekly Market Upadte
  • No Need For Central Bank Cryptocurrency For Now, Australia Concludes
  • ECB Looks Into Launching Own Cryptocurrency, Won’t Interfere With Private Stablecoins, President Says

It’s worth pointing out that the General Manager of BIS, Agustin Carstens, recently urged for central banks to adopt CBDCs. He noted that they have to stay at the center of global payment systems as otherwise, they might risk falling behind.

New Central Banks Working On CBDCs

Information regarding new central banks working on potential CBDCs surfaces daily nowadays.

A collaboration between Hong Kong and Thailand recently informed about a joint digital currency. Both central banks confirmed the upcoming product called Project Inthanon-LionRock. Its main purpose will be to make cross border settlements more transparent, safer, and cheaper.

Furthermore, the central banks for Britain, the Eurozone, Japan, Sweden, and Switzerland also confirmed heading in the same direction. They will be reportedly creating a dedicated group to discuss potential use cases for their own digital currency.

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Cryptocurrecny Market Update: Bears take the revenge, Bitcoin on the verge of deeper sell-off

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  • The cryptocurrency market is under selling pressure with Bitcoin and all major assets in red.
  • BTC/USD is trading below the critical support area with bearish momentum gaining traction.

The cryptocurrency market has been sinking in the sea of red as Bitcoin and all major altcoins have been losing ground rapidly on Thursday. Tezos (XTZ) is a notable exception from the pack. The coin has gained nearly 3% of its value in recent 24 hours. while other assets out of top-20 have been nursing losses ranging from 3 to 8%.The cryptocurrency market capitalization dipped to $231 billion, while an average daily trading volume reduced to $87 billion. Bitcoin’s market dominance settled at 65.8%.

Bitcoin (BTC) price update

The largest cryptocurrency by market capitalization dropped below the key support created by 50% Fibo retracement at $8,450. The downside momentum is gaining traction with the next strong support registered as lo as at $8,000. At the time of writing, BTC/USD is changing hands at $8,330, down nearly 4% on a day-to-day basis.

BTC/USD 1-hour chart

Ethereum (ETH) price update

Ethereum stopped within a whisker of January 20 low registered at $161.11. The second-largest is changing hands at$161.30, off the intraday low of $161.22. ETH/USD has lost about 3.5%  since the beginning of the day.  From the short-term perspective, the coin is moving within a strong bearish trend tend amid expanding volatility. The nearest support is created at $161.00, while resistance is registered at $166.70. It is created by a combination of 1-hour SMAs.

ETH/USD 1-hour chart

Ripple’s XRP price update

Ripple retreated to $0.2250 after an attempt to settle above $0.2300 during early Asian hours. XRP/USD has lost over 4.5% since the beginning of Thursday, moving in sync with the market. The short-term trend is bearish.

XRP/USD 1-hour chart

Despite the carnage, so,e of the less prominent assets are doing well. Below is the best-performing altcoin out of top-100

  • Centrality +64.5% ($0.0920)
  • Swipe +17% ($1.8)
  • Nervos Network +15.5 ($0.0062)

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Cryptocurrencies under Selling Pressure

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In the last eight hours, cryptocurrencies have been subjected to relatively strong selling pressure. Bitcoin (-1.6%), Litecoin (-2.97%) , Ethereum (-2.7%) and Ripple (-2.72%) fell modestly down, whereas Bitcoin SV is descending over 10.6%, along with Ethereum Classic( -5.5%) and  MIOTA (-5.76%).

Among the overall selling sentiment, Tezos manages to gain 2.96%, and, notably, NEM moves up by 10.2%.

 Ethereum tokens are also dropping. LINK (-6.43%), MKR(-5.6%), REP(-6.24%), CENNZ( -6.92%) and  SNX(-7.32%) lead the downward movements. SPX (+18.52%) and LPT(+33.64%) are showing the best positive performance.

24H Crypto Market Heat Map

The market capitalization of the sector was moved down to $234.848 billion (-2.63%) in the last 24H, on a traded volume of$31.4 billion (+3.05%). The dominance of Bitcoin hasn’t changed much and currently is 65.77%.

24H Crypto Market Cap and Traded Volume

Hot News

Fintech firm Amun AG has listed an inverse Bitcoin ETP (Exchange.traded product) on SIX, Switzerland’s leading stock exchange. Theoretically, this inverse ETP product would allow investors profiting from downward price movements of the Bitcoin. Amun AG currently has eleven crypto-ETPs listed linked to BTC, ETH, XRP, and others. Amun has received approval from Switzerland’s Financial Supervisory Authority to expand its financial products in the European Union.

The US SEC doubts about the development efforts on the TON blockchain. That can be derived from its court filing on the NY South District in answer to Telegram’s previous motion for summary judgment. “Telegram Has Put Forth No Evidence Regarding the TON Blockchain’s State of Development at Launch. Telegram Marketed Few, if Any, Expected Uses for Grams.” (source: cointelegraph.com).

Technical Analysis – Bitcoin

Bitcoin 4H

The last four hours of Bitcoin drops brought the digital asset from $8,660 to test its $8,450 low made on Jan 19. There, sellers have managed to create a credible bounce, and now is moving $100 higher. If the bounce manages to last, then Bitcoin has been saved from a potential Head-and-Shoulders pattern that would manifest itself after a break below the $8,450 line.

On the 4H chart, we see that the Bollinger Bands are contracting, which may implicate a sideways action. The MACD is

giving no valuable information, as both lines are too close together moving horizontally.

On the negative side, Bitcoin’s price has moved out of the ascending channel, and also it is moving below the 50 and 20-periods SMA, and below the -1SD line. The key levels are currently $8,760 and $8,450.

SupportPivot PointResistance
8,5608,681 8,760
8,4508,860
8,3409,000

Ripple

Ripple 4H

Ripple had a relatively large red candle that was followed by a doji. This candle pierced the $0.23 level and then went back to its origin. Nevertheless, the price continues moving below the -1SD line, and the MACD is bearish. Also, the latest movements pushed the price below its 50-period SMA. If there is no positive reaction soon, the price may continue dropping towards $0.225.   To the downside, the key level is $0.23, whereas $0.24 is the critical resistance to the upside.

SupportPivot PointResistance
0.23000.2360 0.2400
0.22500.2450
0.22000.2500

Ethereum

Ethereum 4h

Ethereum is in a similar situation as the rest of the leading cryptocurrencies. After the sharp drop made on Jan 19, the price has been moving horizontally between $162 and $170. In the last eight hours, the selling pressure brought ETH price down to test the $162 level again. From there, it bounced back and now is in the middle of the channel. The Bollinger Bands are shrinking, which means the average trading range has dropped, so a new push to the upside is likely.

The critical levels to observe on this asset were already mentioned: $162 is critical to hold the current uptrend, whereas a pierce through $170 would imply a new upward leg.

SupportPivot PointResistance
164.7167.5 170
162173.5
159177

Litecoin

Litecoin 4H

Litecoin is mimicking the movements of the Ethereum, although its price movements seem more bullish since the $55.9 support line has been holding all the time. On the negative side, the price is now below its 50 and 20-period SMA, moving below its -1SD line and a MACD slightly in the bearish side. The Bollinr bands are shrinking, so the likelihood of the continuation of the sideways movement is high. The key levels are $55.9, which is critical to hold for buyers, and $58.3 to the upside.

SupportPivot PointResistance
55.958.3 58.6
53.960
51.562.5

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