OANDA Named Singapore’s #1 Crypto Broker For 2nd Year Running

• OANDA has been named Singapore’s #1 crypto broker for customer satisfaction for the second consecutive year.
• The survey evaluated the top crypto brokers in Singapore based on customer service, platform usability, and trading options.
• OANDA offers users a user-friendly interface and advanced tools to help traders make informed decisions and 24/7 customer support, as well as the opportunity to buy and sell Ethereum and other popular cryptocurrencies.

OANDA, an industry-leading online trading platform, has once again been named Singapore’s #1 crypto broker for customer satisfaction in a recent survey conducted by a leading financial news outlet. This marks the second consecutive year that OANDA has achieved this honor, further cementing its position as the go-to choice for crypto traders in Singapore.

The crypto industry has been rapidly growing, with blockchain technology having the potential to revolutionize financial transactions by using decentralized currencies such as Bitcoin and Ethereum. OANDA has been at the forefront of this industry in Singapore, and the survey which evaluated the top crypto brokers in Singapore based on customer service, platform usability, trading options, and other factors found that OANDA provided the best trading experience for its clients.

In response to the growing demand for crypto trading options, OANDA has opened up its crypto market to traders, allowing them to buy and sell Ethereum and other popular cryptocurrencies. The platform provides users with a user-friendly interface and advanced tools to help traders make informed decisions, as well as 24/7 customer support. OANDA’s Ethereum trade offering has become especially popular, as Ethereum is the second-largest cryptocurrency by market capitalization and is widely considered one of the most promising digital assets in the crypto space.

The team at OANDA is committed to providing its clients with the best possible trading experience, and is constantly striving to improve the platform and add new features. This dedication has been rewarded with the recognition of being named Singapore’s #1 crypto broker for two consecutive years, and it is a testament to the hard work and dedication of the OANDA team.

Decentraland (MANA) Price Soars 130%: Whale Purchases Fuel Rally

• Decentraland (MANA) has seen a 130% increase in its price in the last 30 days, due to a recent uptick in ‘whale’ purchases.
• Santiment data shows that the average of daily transactions was much over 50, with around 8 whale transactions as of this writing.
• The in-game currency of Decentraland is called MANA, and it is used to buy things like plots of land and services.

Decentraland (MANA) is a virtual reality platform that is powered by the Ethereum blockchain. It allows users to create, enjoy, and monetize content and applications in a decentralized, open-world setting. Since its introduction in 2021, the platform has experienced a significant increase of interest from both investors and users, with its price rallying by over 130% within the last 30 days.

Santiment data showed that beginning on 13 January, Decentraland (MANA) has been experiencing a daily increase in transactions of more than $100,000. The average of daily transactions was much over 50, with around 8 whale transactions as of this writing. The rally in price is believed to be due to the increased enthusiasm of investors in the potential of the Metaverse in 2022.

The in-game currency of Decentraland is called MANA, and it is used to buy things like plots of land and services. It is used as a means of exchange within the virtual world, and can be used to purchase virtual items such as clothing, weapons, and land. MANA’s price increase is much more significant than similar tokens, with The Sandbox (SAND) only experiencing a price increase of over 90%.

Overall, the recent rally in Decentraland’s (MANA) price has seen investors make considerable profits. The increased interest from both investors and users, as well as the potential of the Metaverse in 2022 has allowed the digital asset to flourish. With the in-game currency, MANA, being used to purchase virtual items and services, Decentraland (MANA) is set to continue to grow and offer investors more opportunities.

SEC Investigates Crypto Exchange Zipmex Over Alleged Violations of Local Rules

• The Securities and Exchange Commission (SEC) of Thailand is probing the crypto exchange Zipmex to determine if it breached local rules when it offered certain digital-asset products.
• The SEC believes that Zipmex may have been operating as a „digital-asset fund manager without permission“ and has given the crypto exchange till 12 January to provide clarification on this matter.
• Zipmex is currently being acquired by V Ventures, which is a subsidiary of Thoresen Thai Agencies Pcl, for $100 million.

The Securities and Exchange Commission (SEC) of Thailand has launched a probe into the crypto exchange Zipmex to determine if it breached local rules when it offered certain digital-asset products. The SEC has noted that some of Zipmex’s activities may be in violation of the local digital asset business rules. The same was conveyed in a letter to Akalarp Yimwilai, the CEO of the crypto exchange.

At the centre of the SEC’s probe are Zipmex’s ZipUP and ZipUP+ programs, which have been offered to the exchange’s clients since October 2020. Both products were managed and operated by Babel Finance and allowed clients of the exchange to earn a return on their tokens.

The investigation comes at a rather crucial time for Zipmex. The Bangkok based crypto exchange is currently being acquired by V Ventures, which is a subsidiary of Thoresen Thai Agencies Pcl. The acquisition is reportedly worth $100 million and will give V Ventures a 90% stake in the crypto exchange. It is essentially a bailout for the exchange’s customers who have been struggling to get their funds ever since the exchange suspended withdrawals in July 2022.

The SEC has given Zipmex till 12 January to provide clarification regarding the matter. If found guilty of breaching local rules, the crypto exchange may face legal repercussions. It would also mean that the acquisition by V Ventures may not go through as planned.

The SEC’s investigation is yet another example of the Thai government taking a tough stance on digital assets. In December 2020, the Thai SEC had issued a warning to investors regarding the risks associated with digital assets. The regulator had also issued a cease and desist order against Zipmex in February 2020, which prompted the exchange to suspend its operations.

The Thai SEC’s investigation into Zipmex is a reminder of the importance of local regulations for cryptocurrency exchanges. It also highlights the need for exchanges to ensure that they are in compliance with all applicable laws. Though the outcome of the investigation is yet to be seen, one thing is certain: the crypto industry in Thailand is under increasing scrutiny.

Algorand Reaches Milestone of 1 Billion Transactions!

-Algorand achieved a monumental milestone by completing one billion transactions on its network
-This achievement is attributed to healthy adoption of decentralized projects and onboarding of new users
-The news also announced the integration of Dequency into Stripe payments

Algorand has kicked off 2023 on a positive note with its one billionth transaction on its network – a monumental landmark that has been made possible with the help of decentralized projects. This achievement is a testament to the utility of the project and the success of its adoption rate.

The news was accompanied by the announcement of the integration of Dequency into Stripe payments. Dequency, a music licensing marketplace built on Algorand, will now allow musicians to decide whether their licenses can be purchased with cards, crypto, or both. This is set to revolutionize the music industry and its evolution in the decentralized space.

The one billion transactions milestone was also achieved with no downtime, even at sustained high loads. This is a testimony to the robustness of the Algorand network, which is built to handle high load and transaction volume.

The surge in transactions and the integration of Dequency into Stripe payments has been a cause for celebration in the ALGO community. Many investors have seen their ALGO holdings flash green, and the Algorand Foundation has promised a surprise for the community soon.

With the successful completion of the one billion transactions milestone, Algorand is well on its way to becoming the leading decentralized projects of the year. Its utility, adoption rate, and the integration of Dequency into the payments system are all signs of the success Algorand is bound to see in the future.

ADA Whales, Small Investors Reduce Holdings, Price Drops

• On-chain assessments suggest that ADA whales and small to medium-sized investors have reduced their holdings in the past few months.
• According to Santiment, this cohort of investors ramped up their accumulation during the 2019 bear market, but have since become hesitant to buy more ADA.
• Whale investors holding between 1,000,000 – 100,000,000 ADA tokens have increasingly dumped their bags in the past few months.

Recently, on-chain assessments have suggested that ADA whales and small to medium-sized investors have decreased their holdings of Cardano’s native token ADA. According to a report from Santiment, the investors holding between 10,000 and 1,000,000 ADA coins have become hesitant to accumulate more of the cryptocurrency. This cohort of investors had previously ramped up their accumulation during the 2019 bear market, but have since become more conservative in their approach.

Additionally, whales holding between 1,000,000 – 100,000,000 ADA tokens have increasingly dumped their bags in the past few months. This reduced demand of ADA tokens has corresponded with a drop in the price of the cryptocurrency. A close correlation exists between increased whale accumulation and an asset’s price, and so a drop in the former often results in a corresponding decrease in the latter.

It’s likely that the reduced demand of ADA tokens is a result of the losses incurred by investors in the cryptocurrency. After reaching an all-time high of $1.3 in 2021, ADA’s price experienced a continuous decline over the past few months, bottoming out at $0.33. This could be a contributing factor to the reduced holdings of ADA, with investors becoming more hesitant to accumulate more of the cryptocurrency until the market stabilizes.

Overall, the reduced demand of ADA tokens suggests that investors are becoming increasingly cautious of the potential of the cryptocurrency. Whale investors, in particular, have been offloading their bags of ADA tokens in the past few months, which could be a sign of further losses to come. Whether or not Cardano’s price will begin to recover remains to be seen, but investors should remain cautious in their approach to the cryptocurrency.

Algorand Bounces off Support, but is the Rally Sustainable?

• Algorand has gained 16.5% within the past six days of trading, after dropping to a low of $0.1598 on 30 December.
• Algorand was able to force a bounce from the $0.163 level of support and climbed to the $0.1874 resistance level at press time.
• A daily trading session close above the order block at $0.195 will invalidate this bearish notion.

The past two months have been a rollercoaster ride for ALGO holders. The digital asset has dropped close to 60% in value, with a low of $0.1598 on 30 December. However, there are signs of a relief rally, with Algorand gaining 16.5% in the past six days.

At press time, ALGO was trading at $0.1874, after forcing a bounce from the $0.163 level of support. This is a crucial area of the chart and has been a strong area of resistance since October. But the region demarcated in red is a bearish order block on the daily timeframe, which has confluence with the horizontal level at $0.1874. This indicates that selling pressure is likely to increase in the near-term.

Furthermore, the Relative Strength Index (RSI) has not yet breached the neutral 50 mark, nor has the On-Balance Volume (OBV) shown large gains in the past two weeks, despite a lower timeframe shift in trend. This suggests that the bounce from support is ripe for selling.

For the bulls to gain control, a daily trading session close above the order block at $0.195 is necessary. This will invalidate the bearish notion and break the bearish market structure, shifting impetus to the north. If Bitcoin can break above the $17.3k-$17.6k area, it could herald another small rally for the altcoin market.

Ultimately, ALGO holders must be aware that the higher timeframe trend is still bearish and will remain so until a clear break of the order block is made. Until then, traders can look to capitalize on the current relief rally and be wary of the risks involved.

Hedera [HBAR] Short Traders Put at Risk as Market Volatility Rises

• The intraday trading session on 3 January saw many traders bet against a rally in the prices of several altcoins, including Hedera [HBAR].
• With HBAR tokens worth $16 million traded within the same period, trading volume was down by 6%.
• At least 24,250 traders liquidated their holdings, with HBAR liquidations of just $21,529 accounting for 0.023% of the total sums removed from the market.

The crypto market is seeing an uptick in the number of short-trading positions opened in the past 24 hours, with traders betting against a rally in the prices of several altcoins, including Hedera [HBAR]. With low trading volume so far, short traders might be at risk of losing out.

Data from Santiment revealed that intraday trading on 3 January saw many traders looking to profit from a drop in the prices of various altcoins, with trades known as “shorting” taking place. This involves investors selling assets they do not own in the hopes of buying them back at a lower price. Some market watchers believed that these assets could be vulnerable to “short liquidations”, where short sellers are forced to buy back the assets at a higher price due to market conditions.

At press time, HBAR traded at $0.0388, having declined by 1% in the last 24 hours. With HBAR tokens worth $16 million traded within the same period, trading volume was down by 6%. According to data from Coinglass, liquidations in the cryptocurrency market in the last 24 hours totaled $92.17 million. Furthermore, at least 24,250 traders liquidated their holdings, with HBAR liquidations of just $21,529 accounting for 0.023% of the total sums removed from the market.

The activity of these short traders will likely have an impact on HBAR’s price, but it remains to be seen whether the Hedera shorters will win out in the end. While the market may be volatile, it is also unpredictable, and it is difficult to predict the outcome of any particular trade. As such, investors should always be aware of the risks associated with trading in the cryptocurrency market and should exercise caution before making any investment decisions.

Algorand Reaches Milestone of 1 Billion Transactions, Onboarding Projects Like Dequency

• Algorand has achieved one billion transactions on its network, marking a major milestone for the decentralized project.
• This was made possible due to its healthy adoption rate and onboarding of decentralized projects, such as Dequency, a music licensing marketplace.
• Algorand also announced the integration of Dequency into Stripe payments, allowing artists to decide whether their licenses can be purchased with cards, crypto, or both.

Algorand has kicked off the year 2023 on a positive note, achieving a monumental landmark: the one billion transactions milestone. This impressive feat is a testament to the utility of the network and its healthy adoption rate, as well as the robust amount of value coming into its ecosystem.

Algorand was able to reach this goal without any downtime, even at sustained high loads. Thanks to the onboarding of decentralized projects, such as Dequency, a music licensing marketplace, Algorand was able to make this milestone a reality. Additionally, Algorand recently announced the integration of Dequency into Stripe payments, allowing artists to decide how they want to sell their licenses. The partnership will make it easier for musicians to access a larger customer base and get paid for their work.

The successful achievement of the one billion transactions milestone is a major win for Algorand, as well as for ALGO holders. With a robust utility, healthy adoption rate, and more value coming into the ecosystem, ALGO holders can rest assured that their investments are in good hands. Not only that, but the integration of Dequency into Stripe payments will make it easier for artists to get paid for their work, allowing them to focus on creating more art.

The good news continues for Algorand and ALGO holders. The network is expected to hit two billion transactions by the end of the year, and its utility is quickly proving itself to be one of the most powerful in the decentralized space. With more projects joining the network and more value coming into the ecosystem, Algorand is off to a great start in the new year.

Whales, Small Investors Reduce ADA Holdings: Price Plummeting to $0.33

• Small to medium-sized investors and whales have reduced their ADA holdings in the past few months.
• On-chain assessments suggest that most ADA holders are logging losses on their holdings.
• Whales holding between 1,000,000 – 100,000,000 ADA tokens increasingly dumped their bags in the past few months.

In the past few months, small to medium-sized investors and whales have been reducing their holdings of the cryptocurrency Cardano (ADA). On-chain assessments have suggested that most ADA holders are currently incurring losses on their holdings. The decline in holdings has been especially evident amongst whales holding between 1,000,000 – 100,000,000 ADA tokens, who have increasingly been offloading their bags in the past few months.

This reduced confidence in ADA can be traced back to the start of the 2021 bull run, when prices reached a peak of $1.30. Santiment’s analytics revealed that small to medium-sized investors, holding between 10,000 and 1,000,000 ADA coins, began to reduce their accumulation of the cryptocurrency during this period. This trend of reduced holdings has continued ever since, with the price of ADA falling to as low as $0.33 in the past two months.

Whales, too, have been reducing their ADA holdings in recent months, leading to a decrease in the count of addresses. The number of whale investors peaked in June 2022 at 2915, however this count has since fallen by 3% to 2819. The correlation between whale accumulation and asset prices is well known, with a reduction in the former often resulting in a corresponding decline in the latter.

Overall, the reduced holdings of ADA by small to medium-sized investors and whales could be interpreted as a sign of caution, with investors wary of the potential of the cryptocurrency. As the crypto markets remain volatile, it remains to be seen whether ADA will be able to recover from its current losses.

U.S Regulators Warn Banks of Risks Associated with Crypto Assets

• Top U.S regulatory agencies have issued a joint statement warning banks about their interactions with crypto assets.
• The warning focuses on the risks associated with the crypto-asset sector, such as legal uncertainties related to custody practices, fraud and scams among crypto firms and overall volatility in this space.
• It may be unsafe for banking organizations to issue or hold crypto-assets as principal.

The top regulatory authorities in the United States have issued a joint statement, warning banks about their interaction with crypto assets. This renewed warning comes as the crypto industry heads into 2023, following the market events that contributed to 2022’s crypto winter.

The joint statement, released by the Federal Reserve, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC), focused on the risks that the crypto industry poses to banking organizations. The board of governors of the Federal Reserve released the “Joint Statement on Crypto-Asset Risks to Banking Organizations”, while the FDIC and the OCC uploaded the content.

The statement outlined the key risks associated with crypto-assets and crypto-asset sector participants that banking organizations should be aware of. This included legal uncertainties related to custody practices, fraud and scams among crypto firms, and the overall volatility in this space. They also emphasized the importance of preventing the migration of risks associated with the crypto sector into the banking system.

Moreover, the agencies clarified that it may be unsafe for banking organizations to issue or hold crypto-assets as principal. This was especially true if the said assets were issued, stored, or transferred on an open, and/or decentralized network. The joint statement concluded by warning banks to be aware of the risks associated with crypto-assets, and to take necessary measures to protect themselves and their customers from such risks.

In conclusion, the joint statement by the top regulatory authorities in the United States serves as a warning to banks about their interaction with crypto assets. Banks are advised to be aware of the risks associated with the crypto-asset sector and to take necessary measures to protect themselves and their customers from such risks.