On the LINK/BTC pair, trader “Jon” said:
Officially broke out from the massive downtrend line dating back to August. Lines from the previous uptrend corridor may provide key levels on this leg up. 5 part Elliot impulse wave to ATH would be fun scenario.
Chainlink’s potential to extend its rally
It seems that the beginning of LINK’s bullish momentum stems from its inclusion in Grayscale’s product suite. A few hours ago, the firm announced LINK’s inclusion in the Digital Large Cap Fund.
Of the recently added cryptocurrencies (MANA, LIV, BAT, FIL), Grayscale said LINK is the only one qualified to be part of this product. Its role is to give investors a strategy to earn passive rewards by gaining exposure to 70% of its cryptocurrencies basket.
Japan s top securities regulator says XRP is not a security
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Japan’s FSA, the country’s securities regulator, has confirmed to The Block that it views XRP as a cryptocurrency and not as a security.
This is the first time the FSA has commented directly on the legal status of XRP.
Japan s Financial Services Agency (FSA), the country s securities regulator, has confirmed to The Block that it views XRP as a cryptocurrency and not as a security.
The question has become relevant recently in light of the U.S. Securities and Exchange Commission s allegation that by selling XRP the firm engaged in sales of unregistered securities and because just about one month ago Ripple CEO Brad Garlinghouse said that the firm might leave the U.S. in search of a more friendly regulatory environment.
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DLC Fund-authorized participant Genesis Global Trading announced that all XRP transactions would be suspended on January 15, 2021.
Digital assets manager Grayscale has removed XRP from its Digital Large Cap Fund and reinvested in other crypto assets. This is the latest in a barrage of XRP delistings prompted by a lawsuit by the United States Securities and Exchange Commission (SEC) against Ripple Labs citing the illegal sale of securities.
Grayscale announced this on Tuesday via Twitter, declaring that funds realized from the liquidation were used to purchase Bitcoin, Bitcoin Cash and Litecoin.
3/ $XRP was removed following DLC Fund s Quarterly Review (12/31/20). No others assets qualified for inclusion. The below table highlights DLC Fund’s weightings as of January 4, 2021: $BTC$ETH$BCH$LTCpic.twitter.com/g3QQEf0kd8
Investment Firm Hashed Raises $120M for Blockchain Venture Fund
Hashed, a South Korean blockchain investment group, has announced a successful raise for its first VC fund. $120 million was raised in just three months, attesting to the demand for exposure to blockchain – and the caliber of Hashed itself, led by CEO Simon Kim. The company, which was established in Seoul in 2017, has a strong presence in the crypto industry, having incubated startups while spreading the word about blockchain technology and the positive change it can effect.
The launch of the firm’s first blockchain-focused fund arrives at a time when interest in digital assets is at an all-time high. In 2020, PayPal (NASDAQ:PYPL) announced cryptocurrency support, and Square (NYSE:SQ) saw record bitcoin volume via its Cash App, while allocating 1% of its reserves to BTC.
JP Morgan strategists believe this action might take a toll on BTC’s price performance.
This is not the first time Grayscale has stopped new investors from investing in its funds.
Grayscale Investments, a leading crypto asset manager, has temporarily stopped accepting new clients in six crypto funds. The asset manager published this information on its website on December 21, noting that its Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, and Digital Large Cap Fund Trusts are currently unavailable for new investors. After this change, the only available units for investment are Zcash, Horizen, and XRP.
The firm did not explain why it had halted investments from new investors. However, Grayscale Investments occasionally closes its crypto trusts, opening private placement rounds. For instance, the company repeatedly stopped new investments in GBTC in Q4 last year. Apart from this, the firm halted GBTC purchase in June this year. It, however, restored the service a mont