Crypto Shuttle News

Tag: Ethereum

Scaramucci’s Skybridge Capital Launches Ethereum Fund
[ad_1]
The CEO of Skybridge Capital, Anthony Scaramucci, has announced that the firm will launch an Ethereum fund. The fund is planned to be a private fund. Alongside this, Skybridge Capital has filed for an Ether ETF with the SEC. The fund already has a pending Bitcoin ETF filed with the SEC.

Anthony Scaramucci was on The Scoop podcast to talk about his bitcoin journey and the fund’s crypto game plan going forward. The fund had made the news late last year when it announced that it had invested $182 million in bitcoin.

Related Reading | Robinhood Fined $70M For Causing “Significant Harm” To Customers

This makes it one of the first hedge funds to properly dip its feet into the crypto market. A big bet made in Bitcoin when the coin was still trading for less than $30,000 apiece.

The investment firm partnered with a number of crypto firms to achieve this. Skybridge Capital expected institutional money to flow into the market and they didn’t want to be too late to get in.

Skybridge Capital Going All In

Scaramucci said on the podcast that the fund was fully committed to crypto.

“We have a full commitment to crypto,” Anthony Scaramucci, CEO, Skybridge Capital

The CEO explained that they planned to launch the Ethereum fund on July 1st. And then they would file for an ETF. A path that a lot of firms have been taking but have had no success so far.

This is due to the fact that while the SEC has received numerous filings for Bitcoin and Ethereum ETFs, it is yet to approve a single one.
```
Ethereum back in the red | Source: ETHUSD on TradingView.com
```
With the bull market, the number of Bitcoin and Ether ETFs filed with the SEC has grown significantly. Skybridge Capital now joins in a long line of investment funds waiting on the decision of the SEC.

Firms wait with bated breaths as the SEC takes its sweet time in deciding if it will approve the ETFs or not. Countries like Canada have approved Bitcoin and Ether ETFs and have recorded much success with the ETFs. But the U.S. SEC is yet to approve a single one.

Although approvals are not forthcoming, it says a lot about the current state of the market when so many firms are filing for crypto-related ETFs.

More Institutional Money In The Market

Scaramucci took the time to talk about the adoption of digital assets in the financial world. The CEO believes that while everyone might not jump in, there will be enough people coming into the market, enough to drive the price of the assets up.

“I just think it’s one of those weird assets where the higher the prices go, the more people are going to be drawn into the pool,” said Scaramucci.

Anthony Scaramucci sees the buy-in from Morgan Stanley into its Bitcoin fund as a sign that institutions are ready to get into the crypto market. Hence, he is very bullish that more institutional money is going to flow into the market.

Related Reading | How Ethereum Can Reach $2 Trillion In Market Cap, Matthew Sigel

Skybridge Capital is not the only firm with vested interests in the crypto market. MicroStrategy has been ramping up its Bitcoin portfolio over the last year. With a $500 million buy recently pushing the portfolio over 100,000 bitcoins.

Goldman Sachs had also taken the plunge and had started offering customers Bitcoin and Ether options and futures. It had also filed a Bitcoin ETF with the SEC but like others, it has not gotten approval.

Skybridge Capital currently has a $500 million Bitcoin fund. And it plans to keep investing and growing the fund and other digital assets funds.
```
Featured image from Crytpoknowmics, chart from TradingView.com
```
[ad_2]

Source link
July 1, 2021
Ethereum Regains Strength, Why ETH Could Rally Above $2K
[ad_1]
Ethereum started a fresh increase after the bulls defended $1,700 against the US Dollar. ETH price is likely to continue higher above the main $2,000 resistance.
- Ethereum is showing positive signs above the $1,850 and $1,900 resistance levels.
- The price is now well above $1,900 and the 100 hourly simple moving average.
- There was a break above a major bearish trend line with resistance near $1,840 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair is likely to clear the $2,000 barrier and it could accelerate higher in the near term.
Ethereum Price is Gaining Pace

Ethereum remained well bid above the last swing low near $1,700. ETH formed a base above $1,700 and it started a major increase. The bulls were able to push the price above the $1,850 resistance zone.

There was also a break above a major bearish trend line with resistance near $1,840 on the hourly chart of ETH/USD. The pair climbed above the 61.8% Fib retracement level of the of the key decline from the $2,038 swing high to $1,715 low.

It is now well above $1,900 and the 100 hourly simple moving average. Ether price is consolidating above the 76.4% Fib retracement level of the of the key decline from the $2,038 swing high to $1,715 low.
```
Source: ETHUSD on TradingView.com
```
It seems like the price could continue to rise above $1,980. The next key resistance is near the $2,000 zone. Any more gains could set the pace for a move towards the $2,115 level. It is near the 1.236 Fib extension level of the of the key decline from the $2,038 swing high to $1,715 low. An intermediate resistance could be near the $2,050 level.

Fresh Decline in ETH?

If Ethereum fails to clear the $2,000 and $2,050 resistance levels, it could start a fresh decline. An initial support on the downside is near the $1,920 level.

The first major support is now forming near the $1,875 level and the 100 hourly SMA. A downside break below the $1,875 zone could lead the price further lower. In the stated case, the price could move down further towards the $1,800 level.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is slowly gaining pace in the bullish zone.

Hourly RSI – The RSI for ETH/USD is currently well above the 60 level.

Major Support Level – $1,875

Major Resistance Level – $2,000
[ad_2]

Source link
June 28, 2021
TA: Ethereum Gearing For Another Lift-Off to $2.8K: Rally Isn’t Over Yet
[ad_1]
Ethereum is showing positive signs above $2,500 against the US Dollar. ETH price is likely to accelerate higher above $2,650 and it could revisit $2,800.
- Ethereum started a steady increase above the $2,500 resistance and $2,550.
- The price is now trading well above $2,500 and the 100 hourly simple moving average.
- There was a break above a major bearish trend line with resistance near $2,480 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair is likely to climb further higher above $2,650 and $2,700 in the near term.
Ethereum Price Gains Bullish Momentum

Ethereum formed a base above the $2,350 level and started a fresh increase. ETH broke the $2,450 resistance zone to move into a bullish zone.

There was a break above a major bearish trend line with resistance near $2,480 on the hourly chart of ETH/USD. The pair even settled nicely above the $2,500 level and the 100 hourly simple moving average. The pair climbed above the $2,550 resistance level.

Ether is now trading well above the 76.4% Fib retracement level of the of the key decline from the $2,626 high to $2,260 swing low. An immediate resistance is near the $2,626 high. A clear upside break above the $2,626 high could set the pace for a larger increase in the coming sessions.
```
Source: ETHUSD on TradingView.com
```
The next key resistance is near the $2,715 level. It is near the 1.226 Fib extension level the of the key decline from the $2,626 high to $2,260 swing low. Any more gains above $2,720 could open the doors for a larger increase. The next major barrier for the bulls is near the $2,800 level.

Downsides Limited in ETH?

If Ethereum fails to clear the $2,620 and $2,650 resistance levels, it could start a downside correction. An initial support on the downside is near the $2,580 level.

The first major support is near the $2,550 level. Any more losses could possibly call for a test of the $2,500 support and the 100 hourly SMA in the coming sessions. A downside break below the 100 hourly SMA could push ether price towards the $2,450 support zone.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is now gaining pace in the bullish zone.

Hourly RSI – The RSI for ETH/USD is currently well above the 50 level.

Major Support Level – $2,500

Major Resistance Level – $2,650
[ad_2]

Source link
June 15, 2021
This Layer 2 Solution Processed More NFT Trades in 24 Hours Than Ethereum Did in 1 Week
[ad_1]
Robbie Ferguson, co-founder and president of Immutable, talks about how Immutable is transforming the NFT industry through its layer 2 solution, Immutable X, which just launched April 8. In this episode, he discusses:
- what sort of problems Immutable is solving by creating a layer 2 solution (1:21)
- why scalability is especially an issue for NFTs in gaming (1:59)
- how Immutable X, built with partner Starkware, addresses the problems with scaling NFTs (3:28)
- how Immutable is scaling Ethereum and the definition of a layer 2 solution (5:46)
- the Immutable business model and how the company makes money (6:40)
- how validity proofs like ZK-rollups differ from fraud proofs like Optimistic rollups (7:52)
- how Gods Unchained has performed since the April 8th launch of Immutable X (8:27)
- why building on Ethereum is so important to Immutable (10:54)
- why Immutable is obsessed with bringing liquidity to NFTs (14:54)
- what sort of partners Immutable is looking to attract and how Immutable X is different from a traditional marketplace (18:00)
- why Immutable decided to purchase carbon credits to offset the gas the protocol consumes on Ethereum (21:33)
- what we might see from Gods Unchained, Immutable X, and NFT gaming in general by the end of this year (23:32 )
- weekly news recap (26:22)
Thank you to our sponsors!

Crypto.com: https://crypto.onelink.me/J9Lg/unchainedcardearnfeb2021

InterPop: https://hellointerpop.io/?utm_source=Unchained&utm_medium=episode-sponsorship&utm_campaign=interpop-launch&utm_content=interpop

NEAR: https://near.org

Episode Links

Robbie Ferguson

https://www.linkedin.com/in/robbieferguson/?originalSubdomain=au

Immutable
- Twitter:
  
  https://twitter.com/Immutable?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor
- Website for Immutable X
  
  https://market.x.immutable.com/assets/0xacb3c6a43d15b907e8433077b6d38ae40936fe2c
- Layer 2
  
  https://www.theblockcrypto.com/linked/101092/ethereum-startup-immutable-aims-to-cut-nft-costs-with-new-layer-2-scaling-protocol
  
  https://www.theblockcrypto.com/linked/100084/opensea-nft-layer-2-immutable-x
  
  https://twitter.com/Immutable/status/1385263903450484741
- Gods Unchained
  
  https://www.coindesk.com/james-ferguson-on-decentralized-gamings-next-moves
  
  https://decrypt.co/65828/immutable-x-ethereum-nft-gods-unchained
  
  Previous Unconfirmed interview: https://unchainedpodcast.com/how-the-hong-kong-protests-gave-a-boost-to-gods-unchained/
Miscellaneous Links
- Hearthstone link
  
  https://decrypt.co/48379/gods-unchained-review-and-beginners-guide
- Carbon Credits
  
  https://twitter.com/immutable/status/1377099577178779659?lang=en
- StarkWare relationship
  
  https://medium.com/starkware/starkware-immutable-8896aabab4e5
  
  StarkWare’s recent Unchained appearance
https://unchainedpodcast.com/can-dydx-become-a-decentralized-bitmex-how-it-is-scaling-with-starkware/

Link to the Crypto News Recap:

https://unchainedpodcast.com/2600-eth/
[ad_2]

Source link
April 23, 2021