• The founders of the collapsed crypto hedge fund Three Arrows Capital, Su Zhu and Kyle Davies, are raising $25 million for a new cryptocurrency exchange called GTX.
• GTX is a spinoff from “FTX,” and will allow depositors to transfer their FTX claims to the GTX exchange and get credit using a token called USDG.
• The executive team for GTX consists of several executives from CoinFlex, including the chief technology officer and the general counsel.
The crypto community is abuzz with the news that the founders of the collapsed crypto hedge fund Three Arrows Capital, Su Zhu and Kyle Davies, are making plans to raise $25 million for a new cryptocurrency exchange known as GTX. This news is especially interesting given that 3AC’s collapse was one of the biggest failures in the crypto industry in 2022.
The new GTX exchange is said to be a spinoff from “FTX,” with one of the pitch decks even using the phrase “because G comes after F.” The pitch deck further states that the exchange will allow depositors to transfer their FTX claims to the GTX exchange and get credit using a token known as USDG.
Furthermore, the 3AC duo is teaming up with Mark Lamb and Sudhu Arumugam, the co-founders of CoinFlex. The GTX executive team comprises several executives from CoinFlex, including the chief technology officer and the general counsel. CoinFlex is an exchange that is also in the process of restructuring. GTX will be using the technology provided by CoinFlex to create the exchange.
The GTX exchange plans to launch as early as February, and its legal team will also oversee the recent claims triggered by multiple bankruptcies, including that of firms like Celsius and Voyager. This news has drawn mixed reactions from the crypto community, but it remains to be seen how successful this new venture will be.
What is certain, however, is that the 3AC founders are taking steps to make sure that the mistakes of the past don’t repeat themselves. With their new venture, they are hoping to create a secure and reliable cryptocurrency exchange that will be a positive addition to the industry. Only time will tell if they are successful.
•The Curve price prediction sees a 14.32% price increase over the past 24 hours of trading as the cryptocurrency touches a $0.69 daily high.
• Curve price may need to rise above $0.70 if the buyers keep the price above the 9-day and 21-day moving averages.
• On the upside, the first level of resistance could be found at $0.75, while the potential resistance levels lie at $0.95, $1.00, and $1.05.
The Curve price has seen a significant surge in the past 24 hours of trading as the cryptocurrency touches a $0.69 daily high. This marks an impressive 14.32% price increase from its lowest point of $0.57 and traders are looking for more spikes in the near future.
Curve (CRV) is a decentralized finance (DeFi) token that is used to facilitate the trading of cryptocurrencies on the Curve platform. The token has a total supply of 1.8 billion and a circulating supply of 531.5 million. It is currently ranked #84 on Coinmarketcap with a market cap of $346.5 million.
If the buyers keep the Curve price above the 9-day and 21-day moving averages, then it may need to rise above the resistance level of $0.70. On the contrary, traders may consider the market as bearish if the sellers bring the market movement below the support level of $0.55.
On the upside, the first level of resistance could be found at $0.75, while the potential resistance levels lie at $0.95, $1.00, and $1.05. Moreover, if the sellers bring the market movement below the support level of $0.55, then there could be potential support levels at $0.40, $0.35, and $0.30.
The Relative Strength Index (14) is currently moving into the overbought region, signaling that the market is currently in bullish favor. However, traders need to be aware that the market could turn bearish in the near future, and use proper risk management practices to protect their investments.
• Zilliqa (ZIL) has been having a strong start to 2023 with 6 consecutive green daily candles and a 24.15% surge.
• Technical analysis shows a bullish sentiment across the short, medium, and long-term with the 20 day, 50 day, and 100 day EMAs in ascending order.
• The RSI and MACD are both in a bullish crossover position with healthy signals.
The crypto market has been on an upward trend since the beginning of the year, with many coins and tokens experiencing a surge in prices. One of the most impressive performers has been Zilliqa (ZIL), which has seen an impressive 10.93% jump while retesting the 20-day EMA. This was followed by an even more impressive 24.15% surge that demolished both the 20-day and 50-day EMAs. Today, prices have continued to climb with another 18.67% rise thus far as of writing.
To get a better understanding of where Zilliqa (ZIL) is headed, it’s important to look at the technical analysis. First, the Exponential Moving Average (EMA) shows a bullish sentiment across the short, medium, and long-term, with the 20 day, 50 day, and 100 day EMAs in ascending order. This is a positive sign that suggests further upside.
The Relative Strength Index (RSI) is currently in oversold territory at 80.44. With the cryptocurrency moving parabolic for the past two days, traders must anticipate a possible retracement and a consolidation before moving up further.
The Moving Average Convergence Divergence (MACD) is in a bullish crossover position with the MACD line breaking out from the zero line due to the recent strong upward trend. Observing the histogram reveals that the MACD is healthy with a steady and gradual increase in momentum.
Taking all of this into consideration, it appears that Zilliqa (ZIL) is in a strong position and could continue to rise in the near future. As the crypto market bounces back, it’s likely that ZIL will see further gains and could even reach new highs. However, traders should also be aware of the possibility of a retracement and should adjust their trading strategies accordingly.