Huobi seals the deal with Pantronics at $77 million

As per the document issued by the Hong Kong national Stock Exchange (HKEX), the significant cryptocurrency exchange Huobi is pursuing the plan of Reverse IPO.

As per the posting of September 10, HKEX registered electronics firm Pantronics Holdings Limited taken over by Huobi will be altering its name to Huobi Technology Holdings Limited. At the period of the takeover, about 221 million shares of Pantronics were transferred to Huobi. The digital exchange giant became the major shareholder of the company with 73% stake. The deal was sealed at $77 million among the two companies.

The aforementioned deal between the firms will help Huobi to go civic in Hong Kong and provide them with a chance for a reverse takeover. The exchange is waiting for the approval of HKEX to make a public announcement of the acquisition.

However, the reverse IPO plan of Huobi may face strict regulations from HKEX. The stock exchange has informed that they will be revising the regulatory strategies by October 1st. It is anticipated that after the regulatory update, it will be difficult for the companies to acquire any Hong Kong-based publicly listed company from a different industry.

As per the reports, if the deal gets approved, it will give an opportunity to Huobi to take over publicly listed company. And enter the secondary financial market. The process is otherwise known as a reverse IPO.

HT token has seen a steep rise in its price after the news of the acquisition. Presently HT token is priced at $2.32. It is predicted that its value may rise if a reverse IPO happens.

Pantronics began functioning in 1990, but it went in civic in 2016. It is an electronics engineering company and is not related to cryptocurrencies.

HKEX has always served as a hotbed for the cryptocurrency-related firm. As per the reports, many significant cryptocurrencies firm including Ebang and Canaan Creative, are applying for IPOs in the stock exchange.

However, in Hong Kong, the Chinese mining firm, Bitmain botched in its IPO as it was allowed to perish largely because of hesitancy from HKEX. As per the information, the company is trying to enter the US market. Their IPO is believed to be the highest of all in history. It is calculated that it was as high as $18 million and had a market capitalization of $50 million.

Paytm likely to invest in YES bank to empower its lending vertical

According to the recent developments, Noida based Fintech startup, Paytm and a private sector lender, YES Bank are said to be under preliminary discussions to make a deal. The deal might be finalized after it gets the nod from the Reserve Bank. Reportedly Paytm is keen on buying stakes in YES Bank.

The structure of the deal is under complexities as the Paytm founder Vijay Sharma owns a stake in Yes bank. As per RBI guidelines, the institutional investors are allowed to own up to 5% equity only after RBI’s permission.

YES Bank is keen on this deal as it wants to build a low-cost digital franchisee and engage an investor for a long term plan. The bank wants to raise fresh capital owing to its escalated bad loan provisions.

The talks with Paytm founder, Vijay Shekhar Sharma are going on since August. YES Bank co-founder Rana Kapoor is in discussions with Paytm to sell his assets. He and his family bear a 9.6% stake in Yes Bank worth of 1800-2000crore.

Earlier in 2015, Rana Kapoor lost court battle against Madhu Kapur over an issue of a board appointment. He eventually had to resign as CEO and MD of Yes Bank. The reasons cited behind his resignation were poor governance and compliance as pointed out by RBI.

The bank has lost 80% of its market value in the last financial year. The official statistics displayed loss in the March ending quarter 2019, whereas the statistics in the next quarter, ended in June displayed profits. Estimations are going on to evaluate the restoration value for the huge losses of bank.

Whereas Paytm is undergoing a legal battle allegedly for floating regulatory norms for its postpaid users.

Both parties are evaluating the pros and cons of the deal as there are several complexities, including the promoter’s shareholdings and regulatory challenges among others.

There is no official confirmation from YES Bank and Paytm sources about any such development as yet.

Amazon Introduces Array Of Fire Tv Devices Along With Fire Tv Cube And Nebula Sound Bar In IFA 2019

On the massive platform of Europe’s biggest tech show IFA, Amazon has exhibited an array of 20 plus products as a part of their ambitious plans for the upcoming year.

For the living room setups, Amazon has showcased 20 plus new Fire TV Editions, including new Fire TV Cube, Nebula Sound Bar, and a whole range of 4K smart TVs, OLED Fire TV with various new features.

At this Berlin show, Amazon’s Vice President of Fire TV, Marc Whitten has made the grand announcements regarding its significant foray into the smart TV line with integrations.

Nebula Sound Bar – Fire TV Edition

Integrating streaming box and soundbar sounds an exciting idea, but not many have tried this arena so far. Earlier ‘JBL ‘brought it up with Google assistant. ‘Roku’ has established itself into this domain. Eyeing the European market occupied by Roku, Amazon has introduced a full range of fire devices for an all-inclusive integral entertainment experience for the consumers.

Amazon, along with Anker brings up a Fire TV with inbuilt sound bar titled a “Nebula soundbar – Fire TV Edition.” This is an all in one kind of experience for the users with a 4K Ultra HD quality, smart TV interface, Dolby Vision, Alexa voice control.

Next-Gen Fire TV Cube

Amazon has introduced a new FIRE TV Cube which is their fastest version so far. The device is double powerful than its previous version. It has double powerful Hexa core processor to get live streaming, gaming, music plus support for Dolby Vision and HDR 10+ content at a speed of 60 frames per content. It can be connected with Alexa commands with its local voice control feature.

The company will start delivering the pre-booked orders from 10th October in Canada, UK, Germany, and the US and from November in Japan as well.

11 New Fire TV Editions

Next in the Fire TV Edition lineup is Toshiba 65 “Smart LED TV with 4K Ultra HD with Dolby Vision Technology.” The customers from the US can get the delivery right in October.

For the customers of Germany and Austria, Amazon has announced 11 new versions of smart Fire TVs. Partnering with the German Electronic firm, Grundig, Amazon introduces ‘Grundig OLED- Fire TV (Hands-free version) Edition’ which is first far-field smart TV powered by Alexa.

Amazon has also tied up with IMTRON group for a new range of Fire TVs under the label ‘Ok.’

Disturbance In Several Asian Cryptocurrency Exchanges

Amazon web services (AWS) experienced some disturbance in cryptocurrency exchanges last Friday. The largest cryptocurrency exchange, Binance, experienced 500 error messages on its APIs. The KuCoin crypto exchange also faced problems with its AWS Tokyo hosted services.


The founding partner in Primitive Ventures Dovey Wan had posted that a number of Asian exchanges are affected and the Amazon Web Services (AWS) are producing unpredictable market data due to technical issues.


Many Asian exchanges saw price uncertainty, and the traders were able to buy Bitcoins at an extremely cheap rate. Several incidents had been reported where customers had an opportunity to purchase Bitcoin at a very low rate. One of the screenshots showed a trader bought 45 Bitcoins for $0.32.


But the real price of Bitcoin during that period was $10,190. As the price decreased super low, there were high volumes of orders placed for the purchase of Bitcoin.


BitMax announced withdrawals of orders for Bitcoin, but exchange book order suggested that traders took the opportunity of this issue and managed to purchase a couple of cheap Bitcoins.


AWS reported problems at its Tokyo facilities. It has found the root cause of this problem and the situation started to return to normal.


As per AWS, “We are starting to see recovery, for instance, impairments and degraded EBS volume performance within a single Availability Zone in the AP-NORTHEAST-1 Region. We continue to work towards recovery for all affected instances and EBS volumes.”


All the involved exchanges rushed to investigate the low-price Bitcoin purchases, but it was not clear to where it’s being headed. There is no clarity about returning the purchased Bitcoins or will they be revised?


There is no further update on this from any other sources. One thing a trader can do is set up low Bitcoin buy orders participating in the next outage when it comes.

Ethereum Classic Price Analysis: ETC Price deals with a slight plunge; indicates a recovery in the chart

  • Ethereum Classic (ETC) is currently dealing at $7.
  • The traders can expect a recovery but in the second half of the day.

Ethereum Classic (ETC) is currently dealing with the wild bears in the market. In the last couple of days, the coin has shown its impeccable potential in the crypto market. The currency was seen dealing with a high profit in yesterday’s chart. Towards the closing hours, the coin dealt with a slight pull-back.

We are looking forward to the coin for lifting up the pressure and relieving the coin. To understand the momentum more precisely, let’s have a look at the intraday price chart.

Ethereum Classic (ETC) Price Chart:

The trading View chart is taken on 24th August 2019 at 08:35:27 UTC to analyze the price momentum of the coin.

Yesterday, the coin opened at $7.2. The coin jumped from $7.2 to $7.5 by 4.35%. The coin slipped immediately, and the price changed from $7.5 to $7.1 by 5.20%. Further, the coin kept moving up and down. Further, the price dropped from $7.3 to $6.9 by 6.07%. Towards the end of the day, the coin escalated to $7.2 from $6.8 by 5.29%. The coin closed the day at $7.2 with a drop of 0.22%. Today, the coin opened with a drop. The price shifted from $7.2 to $7 by 2.74%. Further, the coin slipped again from $7.1 to $6.9 by 2.73%.

Particulars Ethereum Classic (ETC)
Price $7.11
ROI 845.28%
Rank 16
Market Cap $803,194,282 USD
24hr Volume $961,888,397 USD
Circulating Supply 112,938,866 ETC

ETC Price Prediction and Conclusion:

Ethereum Classic (ETC) was dealing at the 20th rank in the crypto market. The coin took a high jump and escalated the market cap. From yesterday, the coin is positioned at 16th rank. The escalation in the market indicates the trust of the traders in the coin. The future prospects of the coin are also anticipated to be good. We believe that investing in the coin wouldn’t go futile.

The coin is speculated to touch $10 by the end of 2019. In the coming years, the coin might be seen dealing with a 4% to 5% profit. The coin would be best suited for long term traders as it would open doors for traders to earn a high dividend.

XMR Is on Its Way to Steep Down Again

July 31, 2019

Meta description

The condition of XMR is pretty much the same just like yesterday and it is getting traded in the bearish zone only with a clear indication of its high liquidity.

Introduction

The condition of the crypto sphere is still the same with no sign of positive hopes. Rather, the intensity with which the prices of altcoin like XMR is getting slashed down is causing depressions among the willing investors. Due to this miserable condition of the crypto market, maximum projects of altcoins are going to fail this year and XMR is definitely one of them. So, no matter how hard it tries to push its value up, it will decline down at a steady rate. Moreover, one should not forget the erratic and turbulent nature of BTC which is also causing significant drop downs in altcoin prices.

Present status

Price in USD: 79.39 USD

Price in BTC: 0.00809518 BTC (UTC time 02:40)

Circulating supply: 17,128,085 XMR

Market cap: $1,343,288,168 USD

Market rank: 13

Price analysis and future price predictions

From the above 1-day chart of XMR, it is clearly evident that yesterday, it had traded in bearish range for most of the time with slight peep-ups in between. As it is lacking support levels, it is hard for XMR to stay in the bullish range even for some intervals. It dropped down to as low as 77.66 USD yesterday and till now, it is trading in bearish zone only. Today, it had traded at a low value of 78.84 USD. So, the shift in the prices in this one day is not that great as bearish range of XMR is persistent. Its value in this one day has although risen by 1.42% but the way it is getting traded in bearish range is alarming for its sustenance in the upcoming days. Considering the above facts, we think that in the upcoming days, XMR can have a value of $78.80.

Conclusion

In the concluding part, it can be said that the crypto market condition is still the same and XMR’s condition is really depressive at present. Even, in the upcoming days, the condition is not going to improve as this intense volatility will not minimise before the end of this year. So, considering any sort of investment on the same is definitely a futile idea at present.

EOS Price Analysis: EOS performance up by 3.26% over the past one week, will it continue to grow further?

Let us compare the price of EOS since the past 5 days. It started off at the level of $4.30 on 21-July-19. Prices seemed to rise upwards, but there was a sharp fall on 22-July-19. For the next 2 days, the coin was mostly showing bearish trends as it could not manage to maintain the rise on 23-July-19. The next day on 24-July-19 the coin saw a sharp upward leap and it continued to rise to the level of $4.70 yesterday at about 13:05 UTC time. Since yesterday the coin seems to be more or less stable without any drastic rise or fall as such. We believe that EOS will manage to rise upwards considering its past performance and will maintain the bullish trend that it had shown earlier.

EOS price comparison is as mentioned below:

Current Data of EOS:

  • EOS has maintained the rank number 7.
  • As per 06:29 UTC time today, market value of the coin was 4,138,784,092 USD.
  • Price of EOS is $4.48 at 06:45 UTC time.
  • 24-hour volume figures are $2,009,830,991 
  • 924,780,126 EOS coins in circulation.
  • EOS offers a ROI of 333.78%.

EOS Price Comparison and Future prediction:

If we compare the price of the coin since 21-July-19 at 09:20 UTC time when the price was $4.30 and the current prices, the coin is reflecting a bullish run by 4%.

We anticipate that the coin may reach $4.54 with a change of around 1.31% by the end of the day tomorrow. By the next month, EOS can touch $4.63 with 3% growth. At the time of end of 2019, it can reach as high as $5.41 with more than 20% growth.

Conclusion:

Advisable to sell the existing EOS coins in hand today as per the movement and trend observed. You may also purchase new coins after a few days’ time and accordingly retain the same from a long term perspective. The Chaikin Money Flow indicator reflects that the coin is almost on the verge of reaching the bullish trend. EOS has a great future ahead considering the kind of returns that it has offered in the past and in the long run will prove to be a boon to the investors.

Will Verge Price Slowly Get Back on The Road to Recovery?

ALT: Will Verge Consolidate Its Position?

MD: Verge price had been badly hit by the bear bug, but now it looks like the price is on the slow path to recovery.

Verge is slowly trying to recover from the bear momentum but may still take some more time to get back into the positive grind. XVG coin known for its anonymity and privacy features is a hit with investors and users has faced a lot of price fluctuations in the current market volatility. The past seven days have been a mixed bag for Verge as the coin showing volatility with the upward swing being more visible as seen from the chart where the price fluctuation has been in the range of $0.0052 – $0.0064.

Verge Price Analysis & Future Forecast-

XVG price has been showing a lot of variations over the past seven days. From a high of $0.006418 on July 15, the price spiraled downwards to $0.005171 on July 17 to the extent of 19.47%. The price then showed a bull rally to $0.006218 on July 18, the upward movement being to the extent of 20.16%. Then there was a bear momentum with the price going downwards to $0.005689 on July 19. The price somewhat stabilized and took an upward swing to $0.006385 on July 20 to the extent of 12.24%. Today, the price has fallen negligibly to $0.00625884. This shows that the Verge price has been trying to consolidate its position in the upward range, but the bears are still holding it back.

The price variations over the past few days indicate that the Verge has been trying to recover from the bear momentum and move ahead. This may take some time, but if the market shows some stability, then the XVG price could gain. Analysts predict a bearish short-term outlook but expect the medium-term outlook to be bullish for the coin and have maintained the year-end target at $0.01. Existing investors should hold their investments and think of making moves only on the market stabilizing further. Short-term investors can consider investing by tracking market volatility.

CHART

ETN Surges and Gets Better With the Positioning

ETN, without any doubt, is a topic of discussion these days. With ETN being the only eco-friendly cryptocurrency in the network, it has surely earned the trust of many potential partners and traders. And with ETN joining the race of top 100 ranking, we might be able to see some really good returns from the investments made. ETN is currently trading at $0.005407 at 09:25 UTC time as on 18th July 2019.

The coin in past one week has been experiencing a roller coaster ride. On 13th July at 23:00 UTC, the coin was trading at 0.00000045 against BTC value. The value increased by 31.21% on 13th July at 11:40 UTC, trading against 0.00000059 BTC value. The value dropped by 11.90% on 15th July at 08:25 UTC, trading against 0.00000045 BTC value.

The value increased by 15.46% on 15th July at 17:05 UTC time against 0.00000060 BTC value. The value dropped down again by 16.63% on 17th July at 18:45 UTC time trading at 0.00000050 BTC value.

ETN was seen moving far from the solid bearish zone today. In any case, this may be a decent time to ‘buy’ ETN currency, yet the exchange may raise in the upward movement soon enough.

Also, starting now, for merchants to offer under the more secure zone, the determined resistance support is as below:

  • R3: 0.006122
  • R2: 0.005827
  • R1: 0.005594
  • S1: 0.005066
  • S2: 0.004771
  • S3: 0.004538

ETN has been a result giving coin with a considerable change in the ranking over the period of time.