Coinbase officially becomes “crypto custodian”: The whole sector is flourishing
Coinbase officially becomes “crypto custodian”: The whole sector is flourishing

Coinbase officially becomes “crypto custodian”: The whole sector is flourishing

By Federico Izzi - 3 Jul 2018

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News that Coinbase officially becomes “crypto custodian” for institutional make the market run. Stride also of Cardano (ADA), Neo (NEO) and Ripple (XRP).

Coinbase officially becomes “crypto custodian”: The whole sector is flourishing. Leggi qui l’articolo in Italiano

This morning sees the whole sector shine with emerald green, with over 95% of the 1600 cryptocurrencies in positive territory.

After days of suffering, the situation seems to have turned around. Eight coins of the top records ord double-digit performance.

The flight in unison makes it difficult to distinguish the best ones.

It is interesting to observe how the operators are again supporting the purchases of Eos (EOS), making prices jump more than 15% from yesterday morning levels, with a recovery of prices in mid-June above 9 dollars.

Cardano (ADA), Neo (NEO) and Ripple (XRP) were also very good with a run of over 12%. To find the first red sign you have to go down to the 50th position occupied by Status (SNT) in sharp contrast with a fall just above 2%.

Among the relevant news is the formalization of the Coinbase team, among the first three exchanges based in the United States, to become “crypto custodian” for institutional investors and hedge funds.

A news that has provided gas to the entire sector, which grew in a few minutes of over 20 billion dollars.

In these hours, in fact, the total capitalization is more than 275 billion.

Even if the first signs of a return of purchases begin to arrive, the situation still has to stabilize itself.

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Bitcoin (BTC)

The further upward pressure yesterday afternoon, lengthens the upward movement started Friday morning. The steady $ 6400 occurred over the weekend, in recent hours pushes prices over $ 6,600. The purchase volumes exchanged in the last 24 hours are very good. The signal will have to find confirmation from the next few hours with the 6400 area holding, now a short support. Even better if there are new daily highs over 6700-6800 dollars

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Ethereum (ETH)

Holding the media in the $ 400 and $ 450 area allows Ethereum to review the $ 500 quite closely. A level abandoned by 10 days that continues to mark an important technical and psychological barycentre of the current trend, still set to decline. Yesterday afternoon’s euphoria also brings benefits to Ethereum by extending the recovery of more than 20% from Friday afternoon lows. The short setting is positive, but to find the first confirmations also in the medium it is necessary the recovery, with volumes, of 500 dollars. Volumes that reached the highest peak since last June yesterday afternoon.

Federico Izzi

Financial analyst and independent #trader – S.I.A.T. & partner. He operates actively on stock and derivatives markets (futures and options) since 1997. A precursor of cyclic-volumetric analysis he is known for having identified the most important upward and downward movements in the financial markets of recent years. He participates annually as a speaker at the ITForum in Rimini since the 2010 edition and InvestingRoma and Napoli since the first edition of 2015. He is a guest and market expert on the "Trading Room" and "Market Driver" broadcasts of Class CNBC, Borsa and on the evening news of Traderlink. Since July 2017 he is a permanent guest on LeFonti.TV, the only weekly national space dedicated to cryptocurrencies alongside the most important international experts in the field. He was interviewed as a cryptocurrency expert for Forbes Italia, Panorama, StartupItalia and DonnaModerna. He was recognized as the first Italian technical analyst to have published the first secular cyclic analysis on Bitcoin. Periodically publishes articles on ITForum News, Sole24Ore, MILANOFINANZA, TrendOnLine and Wall Street Italy. Federico Izzi is... "Zio Romolo".

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