ETH Loans Fell From 42% to 4%: 'No One Is Short Any More'

Genesis Global Trading, one of the largest OTC cryptocurrency dealers, has loaned $553 million to institutional borrowers since March. They said that some of the largest loans were made in Ethereum (ETH) to hedge funds which are typically using the borrowed assets for short positions

At the end of Q1 ETH loans made up of 42% of outstanding balances, but theu fell to 4% as of the end of Q3 following an 80% decline in ETH prices.

Ethereum

ETH
Price
119.03 USD 1.36%
0.03296000 BTC 0.09%
Volume, 24h
678,134,496 USD
24.29%
Marketcap
12,432,709,494 USD
10%
Emission

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OKEx Launches Thai Baht (THB) and British Pound (GBP) OTC Trading

VALLETTA, Malta, Jan. 23, 2019 /PRNewswire/ -- OKEx, the Malta-based world-leading digital asset exchange, announced to launch two new currencies – Thai Baht (THB) and British Pound (GBP) on its over-the-counter (OTC) trading platform (also referred to as fiat-to-cryptocurrency platform). Users in Thailand and the United Kingdom can now complete KYC verification to be eligible to trade on the OTC trading platform. OKEx OTC trading allows users to place orders with self-selected exchange rate and payment methods to buy or sell Virtual Financial Assets with fiat currencies, which benefits them by offering a low-volatility market and zero transaction fee. Instead of the listing of the new currencies, Thai Baht (THB) and British Pound (GBP), OKEx OTC trading platform has already been facilitating global digital assets trading with the Vietnamese Dong (VND) and Chinese Renminbi (CNY) fiat-to-cryptocurrency markets, and ...Full story available on Benzinga.com
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Ethereum (ETH) Daily Price Forecast – January 23

ETH/USD Medium-term Trend: Ranging Resistance Levels: $240, $250, $260 Support Levels: $110, $100, $90 Yesterday, January 22, the price of Ethereum is in a bearish trend zone. Although the crypto’s price is still in the bearish trend zone, the bulls have made concerted efforts to break the 12-day EMA and the 26-day EMA. Also, from the low of $116, the bulls were making frantic efforts to break above the $120 price level. Presently, the 26-day EMA was resisting the crypto’s price from breaking through. Today, the crypto’s price is expected to break above the $120 price level. Meanwhile, the stochastic is in the overbought region but above the 80% range. This indicates that the price of Ethereum is in a bullish momentum and a buy signal. ETH/USD Short-term Trend: Ranging On the 1-hour chart, the crypto's price is in a bullish trend zone. Yesterday, the bulls broke the 12-day EMA , the 26-day EMA and price reached the $120 price level. The crypto’s price is expected at the $130 price level. Meanwhile, the stochastic is out of the overbought region but below the 40% range. This indicates that the price of Ethereum is in a bearish momentum and a sell signal. Meanwhile, the MACD line and the signal are below the zero line which indicates a sell signal. The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
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