Pay Attention Ethereum Holders

Market Meditations | February 3, 2021

Key technical and fundamental analysis including the launch of Ethereum Futures Contracts on Monday.

Dear Meditators

First of all, a big welcome to all new market meditators. We are delighted to be writing to 11,000+ traders and investors on their crypto journeys.

In today’s newsletter, we explore Ethereum technical and fundamental analysis to make sure readers are prepared for the CME Ethereum Futures contract launch on Monday.

Read, enjoy and share with your network. Let’s all grow richer together.

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Visa To Allow Customers to “Buy and Sell Digital Assets” Such as Bitcoin ?
Visa is piloting a suite of application programming interfaces (APIs) that will allow banks to offer bitcoin services, the payments giant announced today. The Visa Crypto APIs pilot program will let clients “easily connect into the infrastructure provided by Visa’s partner, Anchorage, a federally chartered digital asset bank, to allow their customers to buy and sell digital assets such as bitcoin as an investment within their existing consumer experiences,” Visa said in a press statement. Visa envisions a product set that extends to other cryptocurrencies and stablecoins as well as other crypto services such as trading. Read more.
DeFi Options Protocol Opyn Raises $6.7 Million ?
Opyn (which enables decentralised options trading on Ethereum) has raised $6.7 million in a funding round led by Paradigm. Kain Warwick and Stani Kulechov also backed the DeFi project. The options protocol received $2.16 million in a seed round led by Dragonfly Capital last year.The team is working on reducing margin requirements, expanding options, and developing an AMM. Read more.
Yellen Convenes SEC, CFTC & Fed Leaders on Robinhood Question ?
Per a Feb. 2 report from the Wall Street Journal, Treasury Secretary Janet Yellen is gathering the leadership of the Securities and Exchange Commission, the Commodity Futures Trading Commission, and the Federal Reserve, possibly as soon as Thursday. The SEC already announced that it was looking into recent market manipulation. The inclusion of the CFTC and the Fed suggest that the conversation is going to extend far beyond Robinhood, Reddit and GameStop. Read more.
Crypto Exchange Coinbase has Chosen Nasdaq for Direct Listing Venue ?
Coinbase has chosen Nasdaq as the venue for its direct listing, according to two sources familiar with the San Francisco crypto unicorn’s plans. On January 25, Nasdaq Private Market launched a secondary market for Coinbase stock, a move that allowed shareholders with vested equity to sell shares. Nasdaq Private Market offers services for companies ahead of an IPO, including “controlled liquidity programs for pre-IPO companies looking to raise secondary capital for shareholders and investors.” Read more.

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