Yet another massive ICO hit the Internet last night. Status, who is building a browser portal to other decentralized apps, has seemingly just raised about $100 Million in just 3 hours.
You can see their 3.5 minute video here: https://www.youtube.com/watch?v=Je7yErjEVt4
As you can see, this is an entirely new world we’re entering with a new kind of web currently being developed. It’s quite incredible that the Internet has provided a way to fund it’s new development and as we can see in this graph, the level of funding is also getting exponentially larger.
However, clarity on this ICO is very difficult to obtain. An initial report said that they had raised $270 Million, and a later report said only $64 Million.
By checking their funding wallet, we can see that they have about $100 Million in there at the moment… and the kicker, it looks like the ICO site is still open.
eToro, Senior Market Analyst
Please Note: All data, figures & graphs are valid as of June 21st. All trading carries risk. Only risk capital you can afford to lose.
Stock markets are retreating from their highs. Over the past 24 hours just about all major indices are in the red. Not a big deal though. Mostly between 0.5% to 1% tops.
Some things that get too hot need to cool down a bit. Here we’re going to explore a few such assets.
For example, the DAX in Germany broke an all time record high yesterday morning so is coming down a bit since then.
Gold has been coming down for two weeks straight and we could see a nice low point pretty soon, possibly today.
Since January, it has been building itself a nice support line. At the moment we’re still a bit off the line but at this point, we could see some of the more anxious buyers stepping in.
Oil, on the other hand, is giving its support line a really good test at the moment. $42.50 a barrel (dotted yellow line) has been very significant over the past year. If it does drop below that, it will certainly make headlines.
The Crude Oil Inventories will be out at 2:30 PM GMT. So watch out for that.
One more pattern that we’ll see here and something that has also been very hot lately is Ethereum. This classic triangle pattern was noticed by a cryptotrader named @LiamDavies who has made a massive 235% over the last year. A breakout could be imminent.
The Tipping Point
As we’ve been discussing in the past few months, the massive surge in Bitcoin has mainly been coming from Japan’s decision in April to introduce BTC as a legal method of payment. As more and more stores in Japan begin to accept the digital currency the price is rising.
The next big country that is currently on the ropes about Bitcoin is India. A few weeks ago Prime Minister Narendra Modi set up a task force to understand if this could work with the Indian economy.
Just yesterday, they announced that a decision will come by the end of July. The good news is, that some of the government offices are speaking as if to indicate that this is a serious option.
In India, as with many places, bitcoin still has a negative stigma. Many still associate it with black market activities and online gambling. However, now that they have heard from experts, it seems they are more open to the idea of a public ledger that can easily trace transactions.
The price of Bitcoin broke above $2700 yesterday but ran into resistance at $2800. Since the pullback last week (blue rectangle), the price has been rising at a more gradual, more sustainable pace.
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Have an amazing day!
This content is for information and educational purposes only and should not be considered investment advice or an investment recommendation.
Past performance is not an indication of future results. All trading carries risk. Only risk capital you’re prepared to lose.