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Tag: Kraken

  • Chiliz (CHZ) coin overtaken by bullish momentum

    Chiliz (CHZ) coin overtaken by bullish momentum

    Despite the bearish outlook of the cryptocurrency market, Chiliz (CHZ) has been increasingly bullish. At the time of writing, the cryptocurrency stands at a price level of $0.263. The cryptocurrency has moved up by 9% in the past twenty-four hours while the trading volume has shot up by 270%. The fifty-first largest cryptocurrency has been gaining in market capitalization as well.

    Chiliz (CHZ) technical analysis

    The market sentiment for the cryptocurrency is bullish. Out of the total twenty-six technical indicators, eleven are giving out an indication of buy with ten indicators standing at a neutral position and only five indicators bearish. Both the oscillators and moving averages are bullish.

    Chiliz (CHZ) technical analysis
    Chiliz (CHZ) technical analysis

    Chiliz crypto has been identified to be operating on an upward wave count. The bullish momentum is going strong in the market with the wave count lying on various important resistance levels. Currently, Chiliz lies at the first wave. The immediate resistance level can be found at the completion of the first wave at the price level of $0.33 followed by $42 and $0.53. The resistance levels will also be translated into potential price targets for the cryptocurrency if the upward trajectory is sustained.

    What is Chiliz (CHZ) and why is it bullish?

    Chiliz is the native token of the fan engagement and reward platform called Socios.com which is the first of its kind. The social platform is based on the blockchain of Chiliz. Sport fans can trade and purchase Fan Tokens which can also act as a share of influence.

    Kraken – the crypto exchange – recently listedChiliz (CHZ) along with some other cryptocurrencies, namely, Axie Infinity (AXIE), Origin Protocol (OGN), and Perpetual Protocol (PERP). The trading of the assets on Kraken started on July 13th and may have played a role in the bullish momentum of Chiliz.

  • Kraken – Eventful day at the exchange

    Kraken – Eventful day at the exchange

    Kraken has been in the news recently as the exchange is on the crossroads regarding major decisions it has yet to make – or has already made – about its future.

    No direct listing for Kraken?

    Kraken – the leading crypto exchange – is debating its direct listing. Coinbase is the first cryptocurrency exchange that got listed on NASDAQ. The event was regarded as one of the most anticipated ones for the year. However, Coinbase’s direct listing disappointed many. The price of the stock, COIN, skyrocket initially but then settled at a price less than $300. At the time of writing, COIN stands at $220 – trending downwards.

    Coinbase was being hyped-up, other crypto exchanges also started thinking of listing. Kraken originally had plans of getting the exchange-listed on NASDAQ but the exchange thought it better to wait for Coinbase and its performance after the listing. Now, with the poor performance of Coinbase on NASDAQ, Kraken is rethinking its initial plans of listing.

    The CEO of Kraken Jesse Powell has vocalized his doubts on a direct listing in an interview with Fortune. The exchange is set to go public in late 2022 and after Coinbase’s direct listing, Jesse Powell is considering an Initial Public Offering more seriously than Direct Listing. Powell also furthered about the potential shortcomings and dangers of a direct listing.

    Kraken disabling margin trading for US residents

    The exchange has excluded US residents from margin trading citing regulatory concerns. Margin or leverage trading allows traders to bet more liquidity than they have – making it much riskier. The margin trading will be disabled from June 23rd. After which, US citizens would need to get verified on the exchange as well as certify as Eligible Contract Participant under the US regulatory framework to be eligible for margin trading on the platform.