The Digital Assets Report 06

BUSINESS

• The Gamestop Narrative : Reddit forum WallStreetBets squeezing the short position of a formerly high-flying hedge fund. Small investors are empowered like never before.
• After the issue with RobinHood App, Traders are moving to cryptomarkets.
• Wall Street Bets (WSB) craze pumps on XRP and Silver
• • Elon Musk changed his Twitter biography to Bitcoin and the price surged to 15% last Thursday. He said that Bitcoin is on ‘The Verge Of Broad Acceptance' last Sunday.
• Ethereum & DeFi represents respectively $164 billion & $28 billion (17%)
• Coinbase has chosen Nasdaq as its direct listing venue
• Bitcoin Activity Surges In January With 22.3m Active Addresses

Reddit group WallStreetBets is public again after briefly going private

The community gathered an army of rookie day traders who go after heavily shorted stocks, pushing share prices higher and squeezing out hedge funds.

CNBCYun Li

Bank of Singapore Says Crypto Could Replace Gold as Store of Value

Cryptocurrencies need to overcome a number of hurdles first, though, according to a research note.

Yahoo FinanceTanzeel Akhtar

Markets Flip as XRP, Dogecoin Price Collapse After Weekend Surge - Decrypt

Pumpers and dumpers have caused the collapse of XRP and Dogecoin prices, while Ethereum continues its meteoric rise thanks to DeFi.

DecryptMatt Hussey

Tesla CEO Elon Musk: Bitcoin On ‘The Verge Of Broad Acceptance’

Elon Musk, the billionaire founder of Tesla, has said he thinks the cryptocurrency bitcoin is on “the verge” of breaking into traditional finance...

ForbesBilly Bambrough

Coinbase Direct Listing (Formerly IPO): Everything You Need To Know - Decrypt

Crypto exchange Coinbase has surprised the world of crypto, opting for a direct listing on Nasdaq instead of the rumored IPO.

DecryptRobert Stevens, Stephen Graves

MARKETS

Crypto Charts 06

Bitcoin short term chartLast time we said > ‘A move below 31017 will imply a larger correction is taking place. But we woulduse this opportunity to buy with stops below 28860.’ We traded down to 29241 before rallying 30 % off the lows to 38627 . Since thenwe have retraced in 3 waves and are bre…

The AssetsMatthew Clark

Corporate buy-ins could take Bitcoin price over $500K — report

Corporate buyers have the power to make Bitcoin surge past $500,000, new predictions from Ark Invest suggest.

CointelegraphWilliam Suberg

Ethereum derivatives data suggests traders expect prices above $2,000

Data shows 99.5% of the neutral-to-bearish Ether put options will become worthless above $1,360, leaving bulls with a significant advantage for the foreseeable future.

CointelegraphMarcel Pechman

USDC on exchanges doubled in January while Tether’s dominance fell to new lows

More than $1 billion worth of USDC has been created in 2021 so far.

CointelegraphMartin Young

OPINIONS

Sheila Warren: Four Trends I’m Watching - CoinDesk

The World Economic Forum’s head of blockchain tech highlights four trends to look out for in the year ahead.

CoinDeskOmkar Godbole

BIS Chief Blasts Bitcoin’s Viability, Prompting Blowback From Advocates - CoinDesk

Bitcoin maximalists cried foul at the central banker’s prognostications.

CoinDeskZack Voell

REGULATIONS

The Swiss law, which went into effect Monday, the 1st February, treats tokenized securities as a new asset class providing legal ownership rights to investors via a blockchain

Switzerland’s Tokenized Securities Law Ushers In New Chapter for Digital Assets - CoinDesk

Switzerland now lets tokenized securities trade on a blockchain with the same legal standing as traditional assets.

CoinDeskOmkar Godbole

https://www.nytimes.com/2021/01/30/business/dealbook/crypto-regulation-blockchain.html