Canaan Creative Files for $400 Million IPO in the US

Over the past few years, a whole new ecosystem has emerged due to the staggering growth enjoyed by Bitcoin, and one of the more well-known constituents of that ecosystem is Bitcoin miner maker Canaan Creative. In a new development, it has emerged that Canaan has decided to go public in the United States. Listing on Nasdaq The company wants to be listed on NASDAQ, and according to the documents filed by Canaan, it wants to raise $400 million from the listing. Bitcoin mining is the backbone on which the entire…

FTX Launches Futures on Index of 8 China Cryptos Amid Xi Blockchain Pump

Derivatives exchange FTX has launched an index of eight popular China-related cryptocurrencies. Announced in a tweet by the firm’s CEO Sam Bankman-Fried Tuesday, the Dragon Perpetual Futures Index (DRGN-PERP) tracks a basket of coins including BTM, IOST, NEO, NULS, ONT, QTUM, TRX, and VET, based on a weighted average of their respective prices. FTX is also offering traders exposure to the coins in the form of perpetual futures contracts based on the index. Traders will be able to leverage these contracts up to 101 times, Bankman-Fried told CoinDesk. While widely known within…

Korean Government to Back Blockchain Startups With $9 Million Fund in 2020

The Korea Internet Security Agency (KISA) will be supporting blockchain-related projects in 2020 with 10.5 billion won, about $9.0 million, in funding, but has ruled out supporting of crypto projects or crypto exchanges. It will be the third year of such support from the KISA, which is under the Ministry of Science and ICT, according to the announcement from the agency on Monday. The plans were discussed at a meeting held in Seoul on Friday last week. About 10 projects will be chosen for next year while one or two of…

Lock BTC, Get DAI: Lending Firm Bridges Bitcoin-DeFi Divide in Latin America

Canadian startup Ledn, which offers bitcoin-backed fiat loans, now also offers dollar-pegged DAI loans, connecting bitcoin users with ethereum’s decentralized finance (DeFi) ecosystem. Ledn co-founder Mauricio Di Bartolomeo, a Venezuelan expat, told CoinDesk this new partnership with stablecoin promoter MakerDAO was driven by customer demand. Out of “thousands” of users, more than half of Ledn’s users are in Latin America, Di Bartolomeo said, where ethereum-backed DAI is increasingly seen as an alternative to strictly regulated dollar transfers. In fact, this past weekend the central bank of Argentina restricted civilians to…

OKEx Launches Crypto Futures Settled in Tether Stablecoin

Cryptocurrency exchange OKEx is to launch a range of cryptocurrency-based futures contracts settled in the stablecoin tether (USDT). The exchange will support USDT pairs including bitcoin (BTC), ether (ETH), bitcoin cash (BCH), EOS, XRP, bitcoin SV (BSV) and Tron (TRX) with leverage between 1 and 100x when trading commences on Nov. 6, according to a press release issued Tuesday. The firm claims its linear futures contracts will be easier for newbie traders to handle, as holders do not have to hedge the margin risk as they would with inverse contracts.…

Key Indicator Turns Bullish as Bitcoin Struggles to Break Above $10K

View The three-day chart MACD’s first bullish turn in over three months could bode well for bitcoin’s price, according to historical data. The cryptocurrency may challenge 2019 high above $13,800 before the year’s end. The immediate outlook, however, is bearish and prices could drop to $8,800 in the next day or two, with the daily chart reporting buyer exhaustion. Further, China’s state media has asked investors to avoid speculative behavior which could dampen trading. A pennant breakout on the hourly chart could yield a re-test of recent highs above $10,000,…

Bitcoin (BTC) Price Consolidating Gains, Bulls Eyeing Fresh Increase

Bitcoin price is currently consolidating above the key $9,000 support area against the US Dollar. The price is struggling to gain bullish momentum above the $9,600 and $9,720 resistance levels. There is a connecting bearish trend line forming with resistance near $9,560 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price must climb above $9,600 and gain pace above $9,720 to continue higher in the near term. Bitcoin price is likely setting up for the next major break against the US Dollar. BTC remains well…

Ethereum (ETH) Price Likely Setting Up For Next Rally

Ethereum price is trading nicely above the $180 support area against the US Dollar. Bitcoin price is down more than 2%, but it is trading well above the $9,000 support area. There was a break above a connecting bearish trend line with resistance near $185 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to gain pace and it could rally above the $188 and $190 resistance levels. Ethereum price is showing positive signs above $180 versus the US Dollar, while bitcoin is correcting lower.…