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Investors Getting More Comfortable With Low-risk Platforms

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Investors Getting More Comfortable With Low-Risk Platforms
  • The fintech Block Earner aims to yield cryptocurrency with minimal risk. 
  • The low volatility of AUD cash deposits between April and July resulted in the firm’s profits.

Block Earner, an Australian fintech startup built on blockchain technology that is delivering a new era of financial utility to the public, has taken the bold step of investing in a less risky business that offers double returns on digital currency.

The arrows of cryptocurrencies are declining day by day, and many of them are facing the red candle march this year. The fall of Terra and Luna has been a boon to the company because investors have been following it and investing in the low-risk platforms that it provides.

Apurva Chiranewala, Block Earners General Manager, said:

Given that the risks have gone up significantly for those returns, those guys have started coming in and engaging with us because we look like the less risky version of those double-digit return products.

Opt Low Risk But Gain Profit

He added that the majority of individuals were investing in Celsius and APYs before their crash. Additionally, the organization aimed to yield cryptocurrency with minimal risk. Moreover, he added, the business today generates single-digit currency and is a gold and USD earner. Additionally, the amount of Australian Dollar (AUD) cash deposits remained the same between April and July, suggesting a quick rise of 15% month over month.

There are pension schemes with a mandate to spend a very small fraction of their portfolio on high-yielding assets, along with venture capitalists with treasuries, hedge funds, private funds, and others.

The GM also added:

In the environment that we are in right now, it makes very little sense for us to market and acquire users. So we stopped, we pulled back a lot on our marketing strategy.

He also emphasized that by using this technique, the slope is climbing week over week and tracks the success of the firm.

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Ethereum Uptrend Vulnerable Unless It Surges Past $1,900

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Ethereum

Ethereum extended losses below the $1,820 support against the US Dollar. ETH could decline further if it fails to start a recovery wave above the $1,900 level.

  • Ethereum started a fresh decline and traded below the $1,900 level.
  • The price is now trading below $1,880 and the 100 hourly simple moving average.
  • There is a key bearish trend line forming with resistance near $1,880 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could continue to move down if there is a clear move below the $1,800 level.

Ethereum Price Turns Red

Ethereum followed a bearish path after it settled below the $1,900 level. ETH traded below the $1,850 support zone and increased pressure on the bulls.

The bears even pushed the price below the $1,820 level, but the price stayed above the $1,800 level. A low is formed near $1,806 and the price is now consolidating losses. Ether price is now trading below $1,880 and the 100 hourly simple moving average.

An immediate resistance on the upside is near the $1,840 level. It is near the 23.6% Fib retracement level of the recent drop from the $1,955 swing high to $1,806 low.

The first major resistance is now forming near the $1,880 level and the 100 hourly simple moving average. There is also a key bearish trend line forming with resistance near $1,880 on the hourly chart of ETH/USD. The trend line is near the 50% Fib retracement level of the recent drop from the $1,955 swing high to $1,806 low.

Source: ETHUSD on TradingView.com

A clear move above the $1,880 resistance could even push the price above the $1,900 resistance. The next major resistance is near the $1,920 level, above which the price may perhaps move into a positive zone.

More Losses in ETH?

If ethereum fails to rise above the $1,880 resistance, it could continue to move down. An initial support on the downside is near the $1,800 zone.

The next major support is near $1,780, below which ether price might accelerate lower. In the stated case, the price may perhaps decline towards the $1,750 level. Any more losses may perhaps open the doors for a move towards the $1,650 level.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is now gaining momentum in the bearish zone.

Hourly RSIThe RSI for ETH/USD is now below the 50 level.

Major Support Level – $1,800

Major Resistance Level – $1,880

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Crypto Exchanges in Ontario Have a $30K Annual Cap on Buying Altcoins

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Crypto Exchanges In Ontario Have A $30K Annual Cap On Buying Altcoins