Gate.io Blog Daily Flash | Samsung Files To Launch Crypto Exchange In 2023, Reddit Airdrops Polygon NFTs, Crypto ATM Bitcoin Depot To Be Listed On NASDAQ

Daily Flash | Samsung Files To Launch Crypto Exchange In 2023, Reddit Airdrops Polygon NFTs, Crypto ATM Bitcoin Depot To Be Listed On NASDAQ

26 August 10:32

Today's Headline - Samsung Slates Crypto Exchange Launch in South Korea for 2023: Decrypt Report

Samsung Securities is one of seven domestic brokerages looking to start operating a crypto exchange in the first half of next year. Talks with local authorities over securing licensing are said to be in advanced stages.

Its previous attempts to launch an exchange were stalled last year when the business was reportedly unable to hire the right professionals to run it.

In May, the technology giant partnered with Nifty Gateway to add NFT functionality to its smart TVs. The release of a new smartphone in February was also accompanied by a commemorative NFT.

Meanwhile, its venture funding arm, Samsung Next, has invested in numerous blockchain-related companies, including Axie Infinity, the Bored Ape Yacht Club, and SuperRare.
“Currently, discussions necessary for the establishment are being finalized,” an official from one of the companies applying for licensing told South Korean Media NewsPim.

Chart of the Day - NFT Lending Landscape

NFT lending services have been under the spotlight in recent weeks as fears of liquidation surround blue-chip NFTs on BendDAO, around $55 million could be wiped off the market. Also, Uniswap is undergoing talks with 7 lending protocols in hopes of solving "liquidity fragmentation and information asymmetry".

As of this writing,
Bitcoin (BTC) is changing hands at around $21,502, down 0.18% in the past 24 hours,
while Ether (ETH) is trading at $1,677, or up 0.24% during the same period.

Most major altcoins are trading in the red,
with the exception of Cardano (ADA) which is up by 0.23%,
Solana (SOL) -1.25%,
Polkadot (DOT) -1.87%,
Avalanche (AVAX) -1.11%,
and Cosmos (ATOM) -1.24%.

Notable gainers include:
Stargate Finance (STG) at $1.03 (+40.32%),
Voyager Token (VGX) at $0.364 (+33.93%),
Theta Fuel (TFUEL) at $0.0731 (+27.38%).

Notable losers include:
Celsius Network (CEL) at $1.23 (-13.09%),
Newscrypto Coin (NWC) at $0.146 (-12.77%),
Lido DAO (LDO) at $1.99 (-12.08%).

Nervous investors continued their vigil for the U.S. central bank chair's comments Friday that might hint at the Fed's next interest rate hike.

Several central bank governors talked to media outlets but offered few clues on whether the bank will continue its current hawkishness by approving another 75 basis point hike (which would likely send asset markets – crypto and traditional – spiraling) or ratchet back the rate to a more moderately aggressive 50 points.

In terms of the technical outlook of Bitcoin (BTC), the bulls have managed to sustain the price above the $20,842 daily support level for the past few days, which also acted as a strong support level on Jul. 26. Notably, the price of BTC closed above the last price of the Sunday daily candle.

If the bulls fail to protect the current support level, the bears will likely attempt to push the price towards the next support zone which is formed between the monthly support level at $19,858 and $18,975, a strong daily support level between Jun. 18 - Jul. 13.

Notably, the 127.2% - 141.4% Fibonacci extension levels (drawn from Aug. 13 - 19) also reinforce the likelihood of the aforementioned support zone.

On the contrary, if the bulls manage to push to price toward the 12-Day EMA ($22,007), which forms a resistance zone with the 23.6% Fibonacci level ($22,330) measured from Mar. 28 - Jun. 18, and hold above $21,515 which is the last price of Sunday trading, then we may see a stronger rebound towards the $23,470 - $24,629 weekly resistance zone.

Ether (ETH) was trading at $1,681 as of this writing. As expected, ETH bulls attempted to push the price above the 12-Day EMA ($1,702) on Thursday but failed to sustain the price above the EMA.

However, even if the bulls manage to exert enough buying power to push the price above the 12-Day EMA, a major resistance zone ($1,760 - $1,820) formed between the 50% and 61.8% Fibonacci levels measured from Aug. 14 - Aug. 20, reinforced by the 50% Fibonacci level measured from Apr. 3 - Jun. 18, looms ahead.

On the contrary, the next closest support level appears to be the 38.2% Fibonacci level ($1,500) measured from Apr. 3 - Jun. 18, which forms another support zone with a monthly support level of $1,428. If the bears manage to push the price below this zone, the price of ETH will likely plunge towards $1,300 to a possible low of $1,250 in the short term.

Influencer of the Day - Voyager Asks Court to Dismiss Investors’ Lawsuit Against Billionaire Mark Cuban

Voyager Digital filed for bankruptcy in July, where it cited “prolonged volatility and contagion in the crypto markets” as well as the default of 3AC on a loan from the company’s subsidiary.

The latest development comes two weeks after a class action lawsuit was filed against Cuban, the Dallas Mavericks, as well the CEO of Voyager Digital, Steven Ehrlich.
The lawyers of Voyager Digital, currently undergoing bankruptcy proceedings, have asked the bankruptcy court to halt a lawsuit filed by investors against the company’s founder and CEO, Stephen Ehrlich, and Dallas Mavericks’ owner, Mark Cuban.

The 12 lead plaintiffs accused Cuban of targeting “young and inexperienced fans” into putting a considerable amount of their savings into Voyager Digital by promoting the company on several occasions and going “great lengths to use their experience as investors to dupe millions of Americans.”

Cuban is also accused of speaking at a Dallas Mavericks press conference, where he allegedly appeared to strongly support and endorse the partnership between his company and the Voyager defendants.

Buzzes of Yesterday - #Polygon Founders Launch $50M Web3 Fund, #Reddit Airdrops Polygon NFTs to Most Active Users, #Crypto ATM Bitcoin Depot to Be Listed on NASDAQ, #Tornado Cash Dev Jailed for 3 More Months

DeFi

Polygon and Cere Network founders launch $50 million web3 fund

Alchemy Acquires Ethereum Coding Platform ChainShot

NFTs & Metaverse

Mars Signs Licensing Deal with Universal Music Group Label to Release NFT-Inspired Candy

NFTs worth $100 million stolen in past year, Elliptic says

Snoop Dogg and Eminem to Bring Bored Ape NFTs to VMAs In ‘Otherside’ Metaverse Performance

Reddit Is Airdropping Free Polygon NFT Avatars to Its Most Hardcore Users

Business & Finance

Coinstar Moves Beyond Bitcoin, Adding Dogecoin, Ethereum to ATMs

SBI ends previously unknown deal with sanctioned Russian Bitcoin miner BitRiver

Crypto ATM Bitcoin Depot set to go public at an $885 million valuation

Governments & Policies

Dutch Judge Orders Tornado Cash Dev to Stay in Jail for 3 More Months

SEC delays decision on VanEck's latest Bitcoin ETF application

Author: Gate.io Researcher Peter L.
This article represents only the researcher's views and does not constitute any investment advice.
Gate.io reserves all rights to this article. Reposting the article will be permitted provided Gate.io is referenced.
In all other cases, legal action will be taken due to copyright infringement.

ETH/USDT -0.72%

BTC/USDT + 0.03%

APE/USDT -1.86%

LDO/USDT + 8.68%

GT/USDT + 0.77%

TFUEL/USDT + 0.77%

STG/USDT + 0.56%

VGX/USDT + 5.61%

CEL/USDT -5.53%

NWC/USDT -3.83%

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