Ethereum Price Gets Pulled by Bulls to $240

The cryptocurrencies have been quite adventurous in the last few days. The first two months of 2020 were quite good as the currencies were spotted breaking records. The top trending coins like Bitcoin, Ethereum, Ripple, and many others recovered to the 30-days high or even 90-days high price counters.

Ethereum was among the few coins in the market that has improved in ten folds. Well, the same invited selling pressure in the latter days. The first week of the ongoing month spotted struggling with the volatility. Well, from yesterday onwards, Ethereum improved, and now the price has reached $240. The upcoming days might take the coin to $250.

Ethereum Price Analysis

Ethereum (ETH) Price News

Ethereum is exhibiting an astounding improvement since yesterday. At 00:00 UTC, on March 05, the price counters of ETH coin were at $227; however, the price moved to $224 by 1.29% in the first 40 mins. The currency locked itself around the same level till 07:40 UTC, with a moderate spike at $230. Further, Ethereum escalated to $234 from $227 but couldn’t hold the level for long and dropped to $229 at 15:00 UTC. The price improved to $233 in the next hour that was again followed by a tight hold at the same level till 20:00 UTC.

Thereafter, the Ethereum price dropped to $227 and closed the day at $228 with an intraday profit of 1.75%. Today, the currency is escalating since the opening period. The first jump took place at 04:48 UTC from $229 to $237 at 07:34 UTC. After a slight plunge, the ETH price picked up the pace again, and this time the coin counter stroked was at $240.

Ethereum has breached the immediate resistance level at $234 and the next resistance level at $239. The current price of the coin is $240. The same momentum is likely to violate the major resistance level at $243. The intraday trading in Ethereum is likely to give flourishing results to the investors.

Travis Kling favors Bitcoin as a hedge against a downturn in Economies

Travis Kling, the co-founder and Chief Investment Officer at Ikigai Asset Management, in conversation with CNN made many remarks in favor of cryptocurrencies and their ability to rise as an alternative to the global monetary system. It is interesting to note that Travis Kling was not a crypto fan from the start, and it took him quite some years before the co-founder of the asset management firm finally identified the relevance of digital coins in today’s economy. Admitting himself that once he declined the idea of investing in cryptocurrency, Kling said during his interview to CNN that it is only in 2017 after doing self-study of more than 500 hours that he finally convinced himself of the investment credentials of cryptocurrency.
Terming cryptocurrency as one of the most credible inventions in the internet age, Kling borrowed the old saying and said that the invention of the cryptocurrency had been specifically suited to today’s troubled time. Delving deep into the details, Kling noted that in an ongoing tension between monetary and fiscal policy across the globe, cryptocurrency could act as a perfect hedge against the recession. He deliberately used words such as privacy, collective consciousness, and ethical behavior to put Government and Centralized Banks in the dock while emphasizing on the point that cryptocurrency could answer to all these worries. Clearing the confusion prevailing in the minds of the general public about crypto assets, Kling emphasized that this has been due to the reason as Bitcoin and other digital assets have gone through several evolutions in their life cycle, thereby creating confusion in the mind of investors. For the convenience of the viewers, Kling defines Bitcoin as the decentralized, non-sovereign, immutable form of digital currency which provides all desirable aspects related to the safety of the money and its privacy. He went further and described Bitcoin as a hedge against the policies adopted by central banks and government agencies. At a time when all the global economies are facing pressure, Kling said that the Bitcoin, like Gold, has scarcity factor going for it and in the future, it can hedge people against the downturn in their economies.

Binance releases Fourth Phase of Lending Products

Binance is set to release its 4th phase of Lending products on September 18, 2019, at 6:00 AM, that will make fixed-term 14-day lending products accessible to the users.

The twitter page of the firm was updated as follows:

Following are the details of the launch:

“Subscription Format: First-come-first-served basis.

Subscription Period: From 2019/09/18 6:00 AM (UTC) to 2019/09/19 0:00 AM (UTC).

Interest Calculation Period: 2019/09/18 6:00 AM (UTC) to 2019/10/02 6:00 AM (UTC).

Interest Payout Time: Immediately after loan term matures.”

The range of lending products will consist of Binance Coin (BNB), Bitcoin (BTC), Ethereum, Ethereum Classic (ETC), Tether (USDT), and Cardano (ADA). Moreover, binance also has given a chart that visualizes annual interest rates that digital assets products will be charging and also the details of their lot size, individual cap, term, subscription cap, and lot interest for each at maturity.

Like Binance Coin interest rate is 10% in a period of 28 days with a 10 BNB lot size and interest rate for bitcoin is 3% in a 14-day period and for the lot size of 0.01 bitcoin, it is 3.25% for 28 day period.

Subscription will work on the basis of the first-come-first-serve method. The subscription starts on September 4, at 6 a.m. and lasts till September 5, at 0:00 a.m.

The blog post on the official website stated that balances of Binance Coin dedicated to lending would be incorporated in balance calculations of BNB every day for all the users of the Launchpad and for other daily general calculations. This was a part of description for everyday calculation mechanism section update.

Here is how you can join:

  1. Register to Binance Exchange Account
  2. Deposit your virtual currency assets to your account in Binance exchange.
  3. Join Binance Lending Service by pressing on ‘Exchange’ at the page top, then click on ‘Lending.’

You will find a detailed explanation about the products here including lot Size, Price per lot, Maximum limit on a purchase, Interest received per lot following redemption, Binance interest calculation day, Binance distribution of the interest and the equity day.

When the lending page opens, customers will need to click on the subscribe button. Also, all the users should ensure optimum asset balance in their exchange account. Also to be noted that assets listed under pending and Margin will not be eligible.

After entering the amount that you want to buy, you need to check the terms and conditions box and then confirm the same.

After you buy the assets, the system will automatically reduce the amount from your balance.

After reaching the due date, the system will redeem your account automatically. Thereafter, your net arrears will be transferred in the form of equity and interest.