Cryptocurrency

Hedera's HBAR Value Declines by 12% in a Week

Monday. January 13 at 10:00 PM

1 min. read

Hedera's HBAR has seen a 12% decrease in value over the last week, currently trading at $0.26, its lowest in seven days. Futures traders are showing a preference for short positions, indicating a bearish sentiment with a Long/Short Ratio of 0.86. This ratio suggests more short positions than long ones, signaling an expectation of further price drops. The declining open interest in the HBAR futures market supports this bearish outlook, falling by 17% to $315 million. The drop in the Accumulation/Distribution Line by 6% on the daily chart indicates weakening buying activity. If selling pressure continues to increase, HBAR's price may fall below $0.24 towards $0.16. Conversely, a surge in demand could push the price up to $0.33. This analysis serves for informational purposes only and not as financial advice. Market conditions can change rapidly, so it's essential to conduct personal research and seek professional advice before making any financial decisions.

More news 🗞️

Robinhood Settles $45 Million SEC Penalty

Tuesday. January 14 at 2:00 PM

Online brokerage platform Robinhood has agreed to a $45 million settlement with the US Securities and Exchange Commission following an investigation that found the company in violation of over 10 securities laws. The penalty affects two of Robinhood's broker-dealers, Robinhood Securities LLC and Robinhood Financial LLC. The SEC stated that the firms failed to comply with various regulatory requirements, such as accurately reporting trading activity, following short sale rules, submitting timely suspicious activity reports, maintaining records, and protecting customer information. The order also revealed that Robinhood entities failed to preserve electronic communications from customers and provided inaccurate information to the SEC. Additionally, the company did not report suspicious activity promptly, lacked identity theft protection measures, and failed to comply with Regulation SHO. Despite the settlement, Robinhood's shares were minimally affected, and it remains unclear how much of the violations were related to its crypto business.

Cryptocurrency

Sygnum Secures $58M in Funding for Expansion

Tuesday. January 14 at 12:00 PM

Cryptocurrency banking group Sygnum has raised $58 million in a strategic growth round, propelling its valuation to over $1 billion. The company plans to enter new markets, develop Bitcoin-focused products, and make strategic acquisitions with the fresh capital. Fulgur Ventures, a key investor in the funding round, has a history of supporting major industry players like Blockstream. Sygnum's co-founders and team members will retain majority ownership despite the influx of new investors. The funding will fuel the company's expansion into the European Union, the European Economic Area, and Hong Kong. Sygnum's recent success, including a significant increase in trades and partnerships with major financial institutions, has positioned it as a leading player in the crypto banking sector. However, the company's CEO has expressed concerns about Switzerland losing its competitive edge in the industry.

Cryptocurrency

Bithumb Announces Banking Change for 2025

Tuesday. January 14 at 12:00 AM

Bithumb, the second-largest cryptocurrency exchange in South Korea, is making a significant banking change. Starting March 2025, it will no longer be partnered with NongHyup Bank but will instead collaborate with KB Kookmin Bank for deposits and withdrawals. The decision, endorsed by South Korea's Financial Intelligence Unit, aims to attract younger generation investors in the digital asset space. This move will require users to link their Bithumb accounts with their Kookmin Bank accounts by March 24, 2025. The transition process will begin on January 20, 2025. Bithumb's CEO expressed gratitude to NongHyup Bank and welcomed the new partnership with Kookmin Bank. The shift from Woori Bank to Kookmin Bank is seen as a strategic move to target a younger demographic. By aligning with Kookmin Bank, known for its appeal to the youth, Bithumb aims to strengthen its position in the South Korean cryptocurrency market and pave the way for future growth.

Cryptocurrency