Bitcoin (BTC) price spent the day trading in a tight range between $32,000 and $34,000. At the time of writing, the digital asset is pinned below the descending trendline resistance and each attempt to cross above it is met by selling.
Data from Cointelegraph Markets and TradingView show a price increase of 4.14% for the top cryptocurrency, which currently trades at $33,840.
In light of the sideways price action, Ki Young Ju, theCEO of the cryptocurrency analysis firm CryptoQuant, spotted a potential bullish indicator that may indicate a price breakout in the near future for Bitcoin.
According to Ju, more than 15,000 Bitcoin were recently withdrawn from Coinbase Pro with the outflows going “into custody wallets that only have in-going transactions,” indicating the purchases were likely “OTC deals from institutional investors.” Rallies have followed similar outflows in the past, and Ju sees this as a sign BTC will “protect $33,000 in the short-term.”
Financial markets are still dealing with the antics of r/Wallstreetbets, which has expanded into the cryptocurrency sector via r/Satoshistreetbets and helped initiate the recent pumps in the price of Dogecoin (DOGE) and now XRP.
After rallying 147% to trade at $0.76 overnight, XRP price corrected by 47% and currently the altcoin is trying to retake the $0.40 level.
In other news, Kraken cryptocurrency exchange joined Grayscale Investments in its effort to fight back against the proposed FinCEN self-hosted wallet rule and the U.S. government’s STABLE Act.
The exchange pledged $100,000 to Coin Center, a Washington D.C.-based cryptocurrency advocacy group whose focus is to educate regulators about digital assets while also advancing the rights of crypto users.
Silver surges higher after r/Wallstreetbets takes aim at short-sellers
Traditional markets saw increases across most sectors and this helped to recover some of the losses from Jan. 29. The S&P 500, Dow and NASDAQ have all benefited from the positive price action on Feb. 1 and closed the day up 1.61%, 0.76% and 2.5% respectively.
As announced over the weekend, members of the r/Wallstreetbets investing group turned their focus to the precious metals market and pushed silver futures above $30, its highest price level since 2013.
The market has since cooled off slightly, and SLV currently trades at $29.07.
Decentralized exchanges take center stage
DeFi related tokens continue to perform well as the battle between Uniswap and Sushiswap heats up and the top two DEXs see increased trading volume, along with sharp appreciation in the pric of their native tokens.
Both tokens rallied to new 2021 highs. The price of UNI is up 17% and trading at $20.44 while SUSHI is up 28% and trading at a price of $12.73
UNI price vs. SUSHI price. Source:TradingView
Binance Coin (BNB) has been the best performing top 10 coin over the past 24-hours, currently up 12.91% and trading at a price of $49.51. Meanwhile, the NEO-based DeFi platform, Flamingo (FLM), is up 38.19% and trading at $0.305, boosted by an ongoing governance vote by token holders.
The overall cryptocurrency market cap now stands around $1 trillion and Bitcoin’s dominance rate is 62.5%.
Bitcoin is taking a break, staying in a tight trading range with lower than average volume compared to the past month. Meanwhile, alternative cryptocurrencies and decentralized finance are stealing the spotlight.
Bitcoin (BTC) trading around $33,782 as of 21:00 UTC (4 p.m. ET). Gaining 2.5% over the previous 24 hours.
BTC above the 10-hour and the 50-hour moving average just slightly on the hourly chart, a sideways-to-bullish signal for market technicians.
Bitcoin trading on Bitstamp since Jan. 29.
Source: TradingView
The price of bitcoin is extending its weekend respite Monday, trading in a fairly tight $32,500-$34,500 range, although its 24-hour performance is up 2.5% as of press time.
“XRP – and DOGE interestingly – both jumped over the weekend while most of the majors, including BTC and ETH, floundered,” noted Andrew Tu, an executive at quantitative trading firm Efficient Frontier. “While the timing is hard to say, it is usually the case after a period of low volatility that the market breaks out in one direction or the other.”
Bitcoin spot trading volumes on major exchanges were at $2.6 billion Monday as of press time on the eight major venues tracked on the CoinDesk 20. That’s much lower than frenzied $4.8 billion average the past month, but well within earshot of the three-month average of $2.7 billion.
Bitcoin volumes on major exchanges the past month.(Shuai Hao/CoinDesk Research)
Source: CryptoCompare
Lower volumes may explain some price sluggishness. Yet, given its 16% rise over the past month, Tu is skewing more bull than bear.
“The market seems to be leaning bullish, though a break to the downside again is always possible,” he said.
Bitcoin price performance on Bitstamp in 2021.
Source: TradingView
“January was a bumper month for bitcoin spot and futures volume, easily establishing new monthly all-time highs,” noted Jason Lau, chief operating officer of San Francisco-based exchange OKCoin. “For OKCoin, January spot volumes were more than two times December, which was already an all-time high,” Lau added “There’s clearly still a lot of interest in bitcoin as an asset, with the latest seeing Elon Musk expressing his support.”
Read More:‘A Good Thing’: Elon Musk Says He’s a Supporter of Bitcoin
Lau told CoinDesk he is seeing a consolidation of bitcoin prices at current levels after the run-up to $42,000. He noted bitcoin’s dominance, a measure of the world’s oldest cryptocurrency market share in the ecosystem, continues to drop. Less than a month ago, on Jan. 3, bitcoin dominance peaked at over 73% and it has dropped roughly 10% since then.
Bitcoin’s dominance in the market so far in 2021.
Source: TradingView
“Alt and DeFi tokens are having their moment with bitcoin dominance down,” said Lau.
SushiSwap eating up DEX market share
The second-largest cryptocurrency by market capitalization, ether (ETH), was up Monday, trading around $1,334 and climbing 2% in 24 hours as of 21:00 UTC (4:00 p.m. ET).
Read More:Decentralized Exchange Volumes Hit Record Above $50B in January
SushiSwap is making gains in trading volume market share for decentralized exchanges, or DEXs, hitting an all-time high of over 23% of the entire market as of press time, according to data aggregator Dune Analytics.
Market share of DEX trading volume for the past week.
Source: Dune Analytics
SushiSwap is a “fork” of reigning DEX by volume Uniswap, meaning that Uniswap’s smart contract code was used to create the rival exchange.Peter Chan, head of trading for OneBit Quant, says both SushiSwap and Uniswap are benefiting from cryptocurrency price gyrations to better position themselves in the market. “They both experienced huge growth in volume lately, most due to increased market volatility,” Chan told CoinDesk.
Market share of major DEXs in the past six months.
Source: Dune Analytics
In addition, Misha Alefirenko, co-founder of crypto market maker VelvetFormula, says the DEX exchanges’ token price gains recently enticed traders to switch from centralized exchanges (CEX) over to DEXs. “As we saw in the rally in altcoins, it is predictable that DEXs gain some market share from CEXs, especially in native DeFi tokens.”
Other markets
Digital assets on the CoinDesk 20 are mostly green Monday. Notable winners as of 21:00 UTC (4:00 p.m. ET):
Notable losers:
XRP, the native asset of San Francisco-based Ripple Labs, experienced a huge price run-up and subsequent precipitous fall Monday, making it the top loser on the CoinDesk 20 the past 24 hours.
“The XRP pump and dump may have been another situation where retail day traders brought the price upwards only to crash it,” noted Efficient Frontier’s Tu. “It seems like this sort of phenomenon is going to become more commonplace, especially in less-liquid markets like crypto, having been legitimized by the current zeitgeist.”
Read More:XRP Pump Fails to Materialize as Price Crashes 40% From Day’s High
Commodities:
Oil was up 2.8%. Price per barrel of West Texas Intermediate crude: $53.66.
Gold was in the green 0.75% and at $1,860 as of press time.
Silver made major gains, up 7.5% and changing hands at $28.93.
Treasurys:
The 10-year U.S. Treasury bond yield was flat Monday at 1.069.
The CoinDesk 20: The Assets That Matter Most to the Market
India’s Parliament is considering a bill that would ban “private,” non-sovereign currencies, including cryptocurrencies. This is the latest attack on the growing crypto industry in the country after a two-year ban was overturned by the country’s supreme court in March 2020, CoinDesk’s Tanzeel Akhtar reports.
The Cryptocurrency and Regulation of Official Digital Currency Bill 2021 also looks to create a framework creating an official digital currency to be issued by the Reserve Bank of India (RBI). The scope of the bill is still being debated, which leaves room for unspecified exceptions.
“This is (the) time to be nervous,” an official at a large cryptocurrency exchange said to the Economic Times of India on the condition of anonymity. Meanwhile, Nischal Shetty, CEO of Mumbai-based cryptocurrency exchange WazirX, warned, “Wrong or hasty regulations will set us [India] back by a decade. Right regulations will catapult India to the forefront of this technology.”
With a united Parliament, the bill has a good chance of becoming law, making India the first major Asian economy to ban private cryptocurrencies rather than regulating them like corporate stocks.
Switzerland now lets tokenized securities trade on a blockchain with the same legal standing as traditional assets. The law, which went into effect today, treats tokenized securities as a new asset class providing legal ownership rights to investors via a blockchain, CoinDesk journalist Ian Allison reports.
In a move that could have strategic significance for other jurisdictions, Switzerland’s legislators decided against creating a separate digital asset regulatory regime but instead grafted rules concerning distributed ledger technology onto the existing legal framework.
Switzerland’s two regulated crypto banks, Sygnum and SEBA, have pounced on the news by issuing tokenized securities. Sygnum tokenized a range of premium investible wines, while EBA is issuing its Series B equity shares as Ethereum ERC-20 tokens.
Separately, Zurich-based Crypto Broker AG was granted a securities house license by the Swiss Financial Market Supervisory Authority (FINMA), allowing the firm to deal in the emerging world of regulated security tokens.
Visa is exploring ways to make cryptocurrencies more “safe, useful and applicable.” In an earnings call, Visa CEO Al Kelly said the payments giant’s strategy “is to work with wallets and exchanges” to enable users to buy and cash out crypto “using their Visa credentials.”
“These wallet relationships represent the potential for more than 50 million Visa credentials,” Kelly said. He added that 35 of “the leading digital currency platforms and wallets” already work with Visa.
The payments executive said stablecoins could be fit for “global commerce” and that “digital currencies running on public blockchains as additional networks just like RTP or ACH networks,” though bitcoin has yet to be “used as a form of payment in a significant way at this point.”
At stake
Silver lining?
Crowd-driven market dynamics that took the world by storm last week are still in play. After traders on the Reddit forum WallStreetBets drove shares of GameStop from $19 in December to $347 last Wednesday, squeezing the short position of a formerly high-flying hedge fund, some are saying the genie is out of the bottle: Small investors are empowered like never before. Their magic? Virality.
This morning, silver traded above $30 an ounce, after being promoted on Twitter and Reddit all weekend. Similar spikes occurred in crypto markets last week. Dogecoin went parabolic, briefly entering the top 10 cryptocurrencies by market cap. Perhaps this isn’t so surprising for a coin that’s little more than a meme, as world’s richest man Elon Musk said on Clubhouse last night.
Bitcoin also benefited from internet exuberance after Musk updated his Twitter bio to just #bitcoin on Friday. A surge to $38,000 wiped out $387 million worth of short positions, though the momentum didn’t last long. Even comments from Musk last night that bitcoin is “a good thing” have failed to move the needle.
While it appears WallStreetBets has yet to rally behind bitcoin, despite repeated calls for hivemind price action to send it to the moon, XRP did. As CoinDesk’s Omkar Godbole reported, the Buy & Hold XRP Telegram group, founded on Saturday, successfully orchestrated a classic pump and dump of the beleaguered cryptocurrency.
The crypto hit a two-month high, erasing much of the value lost after the U.S. Securities and Exchange Commission filed suit against Ripple Labs, which holds a significant chuck of XRP. (Ripple responded to SEC allegations on Friday, arguing “the functionality and liquidity of XRP are wholly incompatible with securities regulation.”)
But as of press time, XRP is down 40%, showing the limits of coordinated buying. It’s unknown why the price tanked, though “it’s quite possible that a whale (large investor) took advantage of the price rise and dumped his holdings,” Godbole noted.
Is it all bad? Well, as Bloomberg noted, at least part of the reason silver didn’t go higher was the trouble in sourcing and moving its physical stock. Overwhelmed dealers said they were unable to process orders due to unprecedented demand.
Clarifying his thoughts on bitcoin, famed investor Ray Dalio noted its strength as a gold-like “storehold” of value. Unlike other alternatives, bitcoin is easily transferred and can be privately held.
You could call that a silver lining for digital gold.
Quick bites
HOLLYWOOD BETS: A movie about WallStreetBets, Gamestop and Robinhood is reportedly in the works, with the Winklevoss Twins attached. (CoinDesk)
KRAKEN LINK: The fourth-largest cryptocurrency exchange is running its own Chainlink node, making its spot price data available for DeFi applications and developers. (CoinDesk)
THE FLIPPENING: Someone bought an NFT for $130, sold it for $130,000. (Decrypt)
ROCKS CRYPTO: KISS frontman Gene Simmons praises BTC, ETH and LTC – again. (Modern Consensus)
ETHEREUM TRUST: Grayscale’s trust is back online. (CoinDesk)
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Popular cryptocurrency exchange FTX has added silver to its growing list of traditional assets.
Thanks in part to a large group of Reddit users, silver is up almost 20% since Thursday.
Rising demand for the precious metal has caused many established dealers to run out of physical silver.
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First GameStop, now silver: crypto’s most agile exchange, FTX, has listed more stocks as a result of the Reddit-organized frenzy.
FTX Responds to Silver Demand
FTX has listed tokenized stocks and futures for silver, as demand for the precious metal reaches a peak.
The cryptocurrency exchange, which is run by the popular crypto figurehead Sam Bankman-Fried, added the stocks over the weekend.
Source: FTX
FTX has earned a reputation for its nimble response to market activity.
Last week, it listed GameStop stocks so that traders could speculate on the asset while markets were closed. That was during a week of drama centered around GameStop and members of the subreddit group r/wallstreetbets, who were responsible for a widely-reported GME short squeeze.
The investors succeeded in pushing GME’s price as high as $490 pre-market Thursday, up from only $19 at the beginning of the month. The events led hedge fund Melvin Capital to liquidate their short position on GME, with news outlets reporting a 53% loss for the fund in January alone.
The Reddit group, led by the now-infamous user Roaring Kitty, then turned to Dogecoin. The meme currency surged towards the end of the week, helped along by Elon Musk, among others.
Trading app Robinhood began blocking users from accessing certain assets due to the rising prices, leading some to raise calls for the importance of decentralized finance.
The week was described by many as one of the most remarkable events in stock market history.
Market Turns to Silver
Now, retail investors have turned their interest to silver. Over the weekend, Reddit users began congregating on the subreddit r/wallstreetsilver.
One of themost active threadsis titled “Silver $25 to $1000 #silversqueeze.”
The thread argues that larger-scale institutions have been controlling the price of precious metals. “Big banks are manipulating metals,” the original post reads.
The metal touched $30 per ounce today, its highest price since 2013. It’s up around 20% since Thursday.
The silver frenzy has led to rising demand for the physical asset. Major silver dealers like SD Bullion, JM Bullion, and Apmex have reported shortages, possibly due to investors placing more trust in the physical commodity.
Apmex briefly closed orders citing “unprecedented demand on silver products,” while SD Bullion and JM Bullion note that customers should expect shipping delays due to an increased number of orders.
Interestingly,one poston the subreddit has tried to convince other users against buying silver, arguing that “the silver squeeze is a hedge-fund coordinated attack.”
Whichever way the market moves, it looks like it could be another eventful week ahead.
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Bitcoin (BTC) starts a new week with $30,000 intact and a message of support from the world’s richest man — what can we expect next?
As trading resumes around the world, the largest cryptocurrency is still lacking decisive momentum up or down.
Cointelegraph takes a look at five factors which could play a part in shaping Bitcoin price trajectory in the coming days.
Stocks wary of “Reddit raiders”
Equities began Monday with volatile behavior after seeing their worst performance since October last week.
In what is likely to become a continued narrative, markets are still feeling the impact of a retail investor revolt which turned sour after regulators and trading platforms stepped in to stop them from participating.
While involving United States companies, the knock-on effects have been felt around the global economy, with Asia likewise seeing pressure before a Monday rebound.
Nonetheless, a repeat of last week’s mayhem could weaken an already shaky stocks environment, analysts warn.
“We think that the vulnerabilities are there, and while we do not know precisely which catalysts might emerge or their exact timing (including some of the recent retail-oriented pushes against heavily shorted stocks), we suspect that they would derail the current rally and provide entry points that may be 10% lower,” Tobias Levkovich, chief U.S. equity strategist at Citigroup, wrote in a note to clients quoted by CNBC on Sunday.
BTC rolling 90-day returns correlation vs. USD, VIX, Gold, S&P500. Source: Digital Assets Data
The timing of the retail move could hardly have been more apt, coming as many stocks indexes see all-time highs despite restrictions on daily life and economic activity increasingly across the U.S. and the western world due to coronavirus.
A separate thorn in the side of U.S. policy comes in the form of continued disagreement over the size of a fresh economic stimulus package. New President Joe Biden’s $1.9 trillion plans have been challenged, and Republicans are instead offering a package worth $600 billion — almost 70% less.
Ammous warns over “shitcoin” silver
With global consciousness waking up to the disparities between how those restrictions affect the rich and the poor, investors’ appetite for a wake-up call seems little dented despite warnings from authorities.
This time, however, it seems not more stocks are on their radar, but precious metal silver. In Monday trading, silver hit its highest levels since 2012 at nearly $29 per ounce.
Gains have been brisk, with 15% added in the past four days alone — since the retail stocks frenzy took a turn for the worse.
Silver soars past $30 a troy ounce as Reddit-fuelled buying frenzy continues for 3rd day. #Silversqueeze pic.twitter.com/mLmasUBrq1
— Holger Zschaepitz (@Schuldensuehner) February 1, 2021
Unsurprisingly, the phenomenon has been accompanied by a slew of calls for those investors to abandon relatively lackluster silver and instead pile into Bitcoin.
“REMINDER… SILVER IS A SHITCOIN,” Saifedean Ammous, author of the popular book, “The Bitcoin Standard,” summarized to Twitter followers at the weekend.
“Its stock to flow ratio is around 3. Whatever happens in the paper market doesn’t matter because it’s very easy to mine and recycle tons and tons of silver and bring it on the market, crashing the price. Pumping silver is a losing game.”
Ammous was referencing the widely-acclaimed stock-to-flow method of analyzing the scarcity of an asset based on how much is added to its existing supply in a given period. The same model delivers the verdict that Bitcoin is the “hardest” of all monies to ever exist thanks to its fixed diminishing emission.
Nonetheless, some saw the potential if the same group of retail investors were to buy up silver en masse. For veteran trader Peter Brandt, a possible target is $102 or 250% from current levels.
Just when Bitcoin supporters were feeling left out, however, did the richest man in the world step in with rare words of encouragement.
In an interview with Clubhouse aired late Sunday, Elon Musk openly confirmed that he was a “supporter” of Bitcoin.
“I’ve gotta watch what I say here; some of these things can really move the market,” he began.
Musk revealed that even his friends had tried to onboard him over the years, even feeding him a slice of a Bitcoin cake in 2013. Nonetheless, having held off on closer involvement, he now admits that he is “late to the party.”
“So I was a little slow on the uptake there, my apologies,” he continued.
“I had to think about it for a bit, but I do at this point think that Bitcoin is a good thing and so I am a supporter of Bitcoin, like I said — late to the party but I am a supporter of Bitcoin.”
As Cointelegraph reported, last week, the Tesla and SpaceX CEO added Bitcoin as the only content on his Twitter biography. Amid suspicions that it was a hoax, Musk nonetheless sent BTC/USD skyrocketing for a brief period, the pair adding $5,000 in minutes as users caught on.
The latest interview, however, has seemingly had little impact, with Bitcoin remaining at the lower end of its broad trading corridor which stretches between $30,000 and $40,000.
Huge withrawals leave exchanges
While it remains unknown whether Musk has bought BTC or whether he plans to do so in a personal or corporate capacity, outflows from exchanges continue to signal big players are buying for the long term.
As noted by Danny Scott, CEO of United Kingdom based exchange CoinCorner, and others, a single recent movement out of major exchange Coinbase alone was worth $500 million.
“Are we about to kick off February with another institute buying,” he quizzed on Monday.
A large amount of #BTC just left Coinbase
… large amounts leaving nearly all exchanges really pic.twitter.com/AegGKOMQLS
— Alistair Milne (@alistairmilne) January 31, 2021
Data additionally shows large amounts of BTC leaving exchanges for private wallets, a classic indicator of the desire to hodl rather than trade or sell.
According to on-chain analytics resource CryptoQuant, meanwhile, the total BTC balance across exchanges is now back at its lowest in at least one year after a brief period of increases.
Bitcoin may have to fight for prevalence not with non-crypto investment options but with altcoins in the coming days.
As rumors spread that Reddit investors plan to target XRP this week, the fourth-largest cryptocurrency began outperforming the major market cap tokens on Monday. 24-hour gains have hit almost 40%, marking a comeback for the embattled coin which previously dipped as low as $0.16 from highs above $0.60.
“Today is the day we should be seeing a massive pump on $XRP. My guess: we’ll see 95% of the people lose money on it,” Cointelegraph Markets analyst Michaël van de Poppe forecast on Twitter.
Last week saw a concerted effort to pump the price of meme-based altcoin Dogecoin (DOGE), a trend which continues as DOGE/USD increased 37% on Monday.
The pair is now almost at $0.04, a transformation versus even days ago and an easy new all-time high.
In his interview, Musk, who is responsible for previous lesser DOGE pumps, chose his words carefully about altcoins in general.
“I don’t have a strong opinion on other cryptocurrencies, I mean, I occasionally make jokes about Dogecoin but that was really just meant to be jokes,” he said.
“Dogecoin is made as a joke to make fun of cryptocurrencies, obviously, but fate loves irony.”
Finally, technical analysis of Bitcoin produces clear levels which need to be either reclaimed or avoided to determine market direction.
As Bitcoin has been ranging for several weeks since hitting $42,000 all-time highs last month, commentators are still waiting to see if lower levels need a retest before the overall bull market can continue.
For fellow Cointelegraph Markets analyst filbfilb and others, $34,000 now forms an essential barrier to flip to support in order to secure further upside.
“Overall Supply weighing down market, until this subsides sellers in control as seen by lower highs and lower lows. LTFs show some attempt to break this but first 34k must be reclaimed,” he summarized on Saturday.
Above $36,700, there is “aggressive selling,” he added, while demand outpaces supply at $30,000 and below.
BTC/USD orderbook support and resistance. Source: Material Indicators/ Twitter
Data from Binance’s orderbook at the time of writing shows incremental sell pressure from $34,000 all the way to the record highs.
The bullion and traditional fiat currency markets continue being thrashed by inflationary headwinds triggered by the Covid-19 pandemic. As a result, Khurram Shroff, the Dubai-based chairman of the IBC group, has asserted that he believes cryptocurrencies will one day replace the gold and silver bullion market.
The long-term viability of cryptocurrencies
Shroff noted that the pandemic has exposed the bare-knuckle of the long-standing inefficiencies like the lack of transparency in the bullion market. He pointed out:
“Decentralized cryptocurrencies are sparking renewed interest on Wall Street, which seemed improbable just a year ago. Since Bitcoin supply is capped at 21 million, it helped maintain buoyancy in the crypto market, when bullion markets cracked under pressure.”
The bullion market entails gold, silver, and other precious metals stored in ingots, bars, or specialized coins as they are viewed as a store of value compared to conventional currencies.
Shroff’s sentiments correlate with the fact that Bitcoin (BTC) has been stealing the show while gold has been taking a beating. For instance, digital asset manager CoinShares disclosed that investment outflows from gold hit a record $9.2 billion in November.
This has not been the case with BTC because it continues to make merry thanks to a massive spending spree by institutional investors. Recently, it made a record-breaking move of smashing the $24,000 mark, and it is hovering around $23,500 at the time of writing, according to CoinMarketCap. Therefore, Shroff bases his argument on these statistics as they are reshaping the notions about the long-term viability of cryptocurrencies.
The flexibility of the crypto market
Shroff added that the crypto market was showcasing its flexibility and capability to adhere to the ever-changing requirements of contemporary society. He acknowledged:
“Unlike the energy-intensive mining model, the Proof-of-Stake model for Ethereum 2.0 doesn’t require large server farms, which makes it more eco-friendly and sustainable. This is the crypto market’s way of showing how capable it is to adapt to the ever-evolving needs of the contemporary world.”
Leading cryptocurrencies like Bitcoin and Ethereum are continuously bringing the crypto space to the limelight based on the record highs and notable moves they are making. For instance, BTC billionaire Tyler Winklevoss recently revealed that the top cryptocurrency is the gift that continues giving.
The International Blockchain Consulting (IBC) Group has stamped its authority in the blockchain/crypto space because it spans 40 countries facilitating enterprise blockchain development, end to end ICO support, consulting and institutional training, and capital raising. It is estimated to hold one million Bitcoins.
