FTX Crypto Derivatives Exchange: The New Trend in Future Options Trading

With a growing demand for crypto derivatives trading, new crypto derivatives exchange platforms are now emerging. Derivatives trading, account for more than half of 24-hour trading volumes recorded. The new chip on the block is FTX, crypto derivatives exchange from FTX trading ltd, a company based in Antigua and Barbuda.

More on FTX
FTX crypto offerings consist of futures, FTT token which is leveraged and OTC trading. It has created a niche for itself by its leveraged token and trading indices. Though quite new, trades recorded on it may not have been substantial, but analysts believe with the variety of crypto offerings it’s giving, it may soon witness phenomenal growth.

Recently, FTX brought on board its trading indices, eight well-known cryptocurrencies that are China-linked. These are BTM, IOST, NEO, NULS, ONT, QTUM, TRX, and VET.

FTX has also built a name for itself in China despite china’s anti-crypto stance. The coins will be available to traders as a perpetual futures contract while providing a leverage time value of more than a hundred.

Listed on its platform for futures trading are major cryptocurrencies and index coins like Bitcoin(BTC), Ethereum(ETH), Litecoin (LTC), Ripple(XRP), Altcoin Index, Midcap Index, Shitcoin Index, and Exchange Token Index.

FTX Features
FTX gives you ‘leverage’ on your capital with its leverage time value of more than a hundred.

Its futures contract has a time tenure of the current quarter, next quarter and a perpetual future(DRGN-PERP).

FTX futures are Stablecoins-settled so this allows you to make deposits with Stablecoins while capturing your profit and loss(PNL) also. Thus, no need for bank account linkage.

Flexible collateral which may be Stablecoins or fiat currency.

No deposit or withdrawal fee.

Low trading fees that target the high volume user.

Bonus for sign up through referrals for its users.

Being backed by Alameda Research, a top cryptocurrency liquidity provider, FTX has access to top order books.

Various payment methods in the form of deposits like TUSD, USDC, PAX, Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Tether, Stablecoins and others which are FTX recognized are accepted on its platform.

FTX index futures contracts are the first of its kind.

FTX also offers its users the ability to activate 2 Factor Authentication (2FA) using Authy or Google Authenticator.

FTT: FTX Leveraged Tokens
Its Leveraged Tokens are ERC20 tokens that help users manage risk while reinvesting profits back into the asset being traded.

Is FTX Legit?
Not much can be said as regards this since it is still new but there have not been any regulatory violations or theft cases since its inception. However, details about the FTX method of storage of user funds are relatively unknown.

FTX Verification
The need for verification may arise for withdrawals above a thousand USD and for users who wish to increase their withdrawal limits. For this, an identity proof document with proof of address, ID document, the scanned front and back with a picture tagged “FTX” and date may be required.

Ending
FTX Exchange has created a niche for itself although it is advised for users to use the online tool and learn more to make the best choice of any trading tool or exchange.

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AUDUSD Plunges After Hitting the Top Zone on the Level at 0.6929

AUDUSD Price Analysis – October 31

The AUDUSD has retreated after hitting the horizontal zone on the level at 0.6929 early in the European session. The top zone reached is the highest point since July 26th, as buyers had initial dominance lifting the pair higher before plunging past below horizontal zone on the level at 0.6895.

Key Levels

Resistance levels: 0.7205, 0.7085, 0.6955

Support Levels: 0.6847, 0.6723, 0.6671

AUDUSD Long term Trend: Bullish

In the long term picture, the scenario for a medium-term retracement is information. However its yet to complete there. Although for as long as the level at 0.7085 resistance remains, the bigger fall from the level at 0.7205 (high) is still expected to continue to 0.6671 (low).

However, a decisive break of the level at 0.7085 may confirm medium term bottoming and reactivate a solid rally from there, meanwhile, the pair is still in a long-term downtrend, the short and long-term outlook has turned bullish already.

AUDUSD Short term Trend: Bullish

The AUDUSD is trending lower while testing the horizontal zone on the level at 0.6882 with the support defined by the 4-hours moving average 13 while posting the session low.

Although the FX pair may continue its upward momentum while it’s also likely for it to make a short retracement coming in around the level at 0.6847 support. The intraday bias is at the upside for a retest of the level at 0.6955 key resistance next. Otherwise, its outlook may remain bearish in case of reversal.

Instrument: AUDUSD
Order: Buy
Entry price: 0.6882
Stop: 0.6810
Target: 0.6955

Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

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Bitcoin Cash (BCH) Price Analysis – Bitcoin Cash Remains Bullish But Breakout is Imminent

That last 7 days price variation has been an interesting momentum for Bitcoin Cash after surging from $206 to $306, amounting to a +50% gains. Meanwhile, BCH was rejected at $306 yesterday and the price has now dropped to $274 (a -5.92% losses). However, we can expect the fourth-largest cryptocurrency to continue bullish if $270 can bolster as support. Otherwise, the value may depreciate soon.

Bitcoin Cash (BCH) Price Analysis: Daily Chart – Bullish

Key resistance levels: $306, $335, $358, $370
Key support levels: $270, $250, $242, $206

Last week, we mentioned the triangle breakout but now Bitcoin Cash is shaping inside a descending channel pattern since mid-July. The October 25 rebound at $206 has made BCH record a weekly high of $306 while trading in a channel boundary. Yesterday, the price was rejected at $306 and now looking for support at $270 which was recently rejected.

BCHUSD, Daily Chart – October 31

A daily close below the $270 would bring us to $250, $242 and 206 support in a couple of days. Today, the RSI 70 was rejected to signal a potential reversal, although the MACD has seen a bullish climb which shows that the buyers lurk around the corner. If $270 area can act as support, we may see a bullish continuation to $335, $358 and $370. However, we need to clear the $306 resistance before considering a further rise.

Bitcoin Cash (BCH) Price Analysis: 4H Chart – Bullish

The 4-hour chart is looking bullish but underway for a bearish move. At the time of writing, Bitcoin Cash is testing the ascending wedge’s support at $270.94 following the last 24-hours low volatility which was characterized by doji candles. Meanwhile, the current bearish candle formation has just signalled a bearish footing. Support is likely at $250-$240 areas once we have a clean wedge break-down.

BCHUSD, 4H Chart – October 31

Surging below grey horizontal support might further turn BCH weak at $220 and $210. While the RSI crosses down the mid-band, the MACD is positive but now oscillating towards the zero levels. Alternatively, we can expect a bounce if the wedge’s lower boundary can support the market. The resistance to watch out for is $290-$306 zones, although further buying target lies at $320. For now, Bitcoin Cash remains bullish but a breakout is imminent!

BCH SELL SIGNAL

Sell Entry: $269
TP: $243 / $212
SL: $310

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XRP Transactions Witness Insane Spike in Just Under a Week

XRP’s daily transaction has just taken a new leap. The cryptocurrency now has about 1.7 million daily transactions, which has been recorded as an all-time high.

In a report by cryptocurrency data tracker, BitInfoCharts, a little above 50% of all cryptocurrency transactions in the past few days were XRP transactions. Ether (ETH) and Bitcoin (BTC) come in second and third places respectively.

XRP’s transactions haven’t attained such heights since 2017, when the cryptocurrency space was basking in the light of the historic bull run of December 2017.

A week ago (21st of October), XRP was facilitating a little over 730,000 transactions daily, fast-forward to 8 days later and the cryptocurrency giant was grossing 1.6 million transactions in a day which is a rise of more than 100% in the sector of 8 days. XRP has been aspiring for new heights in daily transactions ever since this impressive feat.

What Could Be Stimulating the Surge?
It is still uncertain what is triggering this upswing in daily transactions, but best believe barrages of assumptions will flood the space. An assumption of what could be responsible for this rally might be the upcoming Swell event which is being hosted by Ripple in November. Another assumption could be the new alliance between Ripple and Moneygram which is based on finding new means of utilizing XRP. Whatever the case may be, it is definite that something critical is going on in the background as Ripple is on the brink of achieving 1.7 million transactions daily.

At the time of writing, XRP is trading at $0.300 after a 1.6% gain in the past 24 hours. The weekly high was seen at $0.3153 on the 26th of October while the lowest point was $0.261 which was witnessed on the 23rd of this month.

Ripple Discloses Plans to Join New Group
Ripple has disclosed that it plans on joining the Blockchain Association. Ripple’s membership in this group will create access to regulatory bodies and lobbyists in the sector for the company. The group is a non-profit organization consisting of blockchain proponents and aims to stimulate the adoption of blockchain in the world.

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Bitcoin (BTC) Price Analysis – BTC Signals Incoming Bullish, Can $9000 Provide a Rebound?

Just like it was held before breaking in August, the $9000 support has again continued to hold tight against a bearish surge for the past four days now. The bulls are staying on top of the game as they hope for a rebound. On the 15 minutes time frame, Bitcoin has made a double-bottom and now looking for confirmation above the 100-day EMA which is more likely to produce another massive price increase to $12000 if it plays out.

Bitcoin (BTC) Price Analysis: Daily Chart – Bullish

Key resistance levels: $9550, $9950, $10350
Key support levels: $9000, $8820, $8500, $8300

Bitcoin’s daily candle has continued to close above the $9000 to show that the bulls are protecting their territory. Meanwhile, the bears are not relenting to take the price out of the $9000 zone. Fortunately, the bulls are strongly active as they target resistance at $9550, $9950 and $10350 in the next bullish run but they need to clear the $9350 resistance.

BTCUSD, Daily Chart – October 31

We can see that the RSI is showing a sign of strength. Despite the recent market scenario, the MACD is yet to validate a positive move which stalls the bullish continuation at the moment. If Bitcoin fails to provide a bullish crossover, the $9000 may turn weak as price may fall to the $8000 zones. For such a bearish move to occur, the $8820, $8600 and $8350 may be explored.

Bitcoin (BTC) Price Analysis: Hourly Chart – Bullish

The last 24-hours trading has produced a double-bottom pattern for Bitcoin on the hourly chart. This pattern may lead to massive buy if a break is confirmed above the yellow horizontal resistance ($9300). This time, Bitcoin price may hit $12000 but the closest resistance, for now, is $9500, $9750, $10000 and above. As we can see, the MACD indicator is giving a bullish sign but waiting for confirmation.

BTCUSD, Hourly Chart – October 31

Meanwhile, the market has found support at the RSI 50 level after a four days decline. Now, the buyers are getting ready for a perfect entry. However, if the bullish signal turns false, Bitcoin may break-down the descending triangle at $9000 support to $8800, $8600 and $8400, back in the grey consolidation box. Nevertheless, the bulls are currently defending their last defensive line on the $9000 zones.

BITCOIN BUY SIGNAL

Buy Entry: $9070
TP: $9512
SL: $8900

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Shyft Welcomes New Members onto Its Advisory Board

Shyft Network has increased the workforce in its advisory team with previous members of the Financial Action Task Force (FATF).

According to a news report published on the 28th of October, a public blockchain company, Shyft is updating their advisory board with Josee Nadeau, the previous head of the Canadian delegation to the FAFT and Rick McDonell, previous Executive Secretary to FATF.

The Financial Action Task Force (FATF) is regarded as one of the most prominent financial regulatory agencies in the world. Even though this agency does not impose its rules on financial bodies, it is of relevance that its policies are adhered to by financial entities across the globe.

In June, the FATF published new rules concerning the regulation of digital currencies. These rules enforce regulations that were previously restricted to the banking industry, onto the cryptocurrency sector.

This new cryptocurrency rule is known as the “travel rule” and it mandates Virtual Asset Service Providers (VASPs) to disclose the private information of every transaction carried out. Failure to comply with this rule could attract sanctions and restrictions on access to international markets.

Shyft is focused on implementing a sector-wide remedy to the FATF travel rule imposed on VASPs through the use of Shyft’s identity passport, bridging of databases, and data certification infrastructure.

This is where the importance of Nadeau and McDonell comes to play. Shyft is expecting the former FATF members to bring to bear their years of valuable experience on the advisory board as regards this objective.

Timeframe for Compliance
The FATF has ordered that local administrations and VASPs have just a year to create a regulatory model that follows the travel rule.

The Chief Compliance and Ethics Officer of Bittrex, John Roth in an interview said that the one-year deadline given to VASPs would not be enough considering the sector’s complexity and the cost of gathering private information of transactions. He went on to say that there isn’t any company in the sector currently complying with this new rule, however, there are ongoing talks on how to handle this matter. He also said that to solve this issue, new untried methods would have to be applied.

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Litecoin (LTC) Price Analysis – Triangle Breakout Slips LTC Towards $50 Amidst Intraday Consolidation

Following last Friday’s massive buy from $47, Litecoin is now consolidating at $57.8 after recording $64 as the monthly high. The current squeeze was resulted by a low amount of trading volume. Meanwhile, Litecoin is bearish on a long-term but the last seven days of trading has allowed the price to trade above $55. However, we may continue to see an upsurge if the bulls can remain active in the market. With -2.66% losses, LTC remains the sixth-largest cryptocurrency on the market cap

Litecoin (LTC) Price Analysis: Daily Chart – Neutral

Key resistance levels: $64, $72, $80
Key support levels: $52, $47, $40

Litecoin is currently consolidating on the daily chart. Knowing that the market is under long-term bearish control, short-traders are trapped for the past 5 days as the October 25 sudden price increase gave the bulls a sigh of relief. For a bullish continuation, LTC may test the $64 before rising higher to the horizontal resistance (yellow) at $72 and $80. Rise above the horizontal line is a mid-term bullish confirmation.

LTCUSD, Daily Price Chart – October 30

Alternatively, a bullish trap may occur if LTC plummets straight back to the previous support at $52 and $47 and at the same time bringing trade back inside the descending wedge formation. Further support lies at $40. Litecoin is now testing the MACD signal level. A crossover should provide enough strength for the market to go bullish. The RSI is currently waiting at the 50 levels but it may further rise if the level can bolster as support.

Litecoin (LTC) Price Analysis: Hourly Chart – Bearish

Longing Litecoin at this moment could be a wrong position for short-term trader following the latest price break-down on the triangle formation. The ongoing selling pressure may cause Litecoin to fall at $55 and $50 if the supply becomes heavy. However, a false move may turn the bulls back active. Such a move may be unrealistic at the moment, although the market may as well be unpredictable too.

LTCUSD, Hourly Price Chart – October 30

However, resistance to watch out for is $60 and $64 before we can see a further rise. As of now, the MACD has slightly crossed to the negative to show that Litecoin is weakening on the hourly chart. The RSI is currently at the 38 levels, revealing that the sellers are in the market.

LITECOIN SELL SIGNAL
Buy Entry: $57.9
TP: $55/$50
SL: $62

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GBPJPY Is Restricted Within a Tight Trading Range as Buyers Attempt to Seize Control Again

GBPJPY Price Analysis – October 30

The FX pair is seeing a slight upward momentum at the beginning of the European session with the GBPJPY inching towards the upper zone to test the horizontal line on the level at 141.50. Currently, the pair is attempting to break out from its tight trading range to the upside.

Key Levels

Resistance Levels: 148.66, 146.57, 144.51

Support Levels: 135.49, 130.44, 126.54

GBPJPY Long term Trend: Bullish

In the daily picture, the consolidation structure from the level at 126.54 (low) is still forming with an upward advance from the level at 130.44 in full activity. However, a further advance may be seen back to the level at 146.57/148.66 resistance area.

Although, a solid resistance from here may likely suffice to limit the upside. And whereas this scenario may stay as the most anticipated setting as long as the level at 130.44 support holds. The overall outlook is bullish, displaying an intact uptrend in the long-term.

GBPJPY Short term Trend: Ranging

On the flip side, the intraday bias in the GBPJPY stays neutral in the current session except otherwise and the consolidation from the level at 141.50 may extend in a range like a manner.

Meanwhile next, a subsequent plunge may not be ruled out, however, the downside may be contained above the level at 135.49 resistance turned support to initiate another resumption of the uptrend.

Instrument: GBPJPY
Order: Buy
Entry price: 140.07
Stop: 130.44
Target: 146.57

Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

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Bitcoin (BTC) Price Analysis – Triangle Pattern Keeps Bull in Suspense as Spike is Imminent

Since our previous analysis, Bitcoin has remained quiet and indecisive in a symmetrical triangle formation on the 4-hour and hourly chart. The trading volume has seriously dropped but the bullish trajectory remains as Bitcoin continues to form a flag pattern. The crypto trading signals that something big is coming up for BTC sooner or later.

Bitcoin (BTC) Price Analysis: 4H Chart – Bullish

Key resistance levels: $9550, $9800, $9980, $10350
Key support levels: $9000, $8800, $8500, $8300

From $9400 zones, Bitcoin has currently shifted its trading to around $9200 zones following a small squeeze over the past three days now. This suggests that the price is at equilibrium due to lack of interest amongst traders. Yesterday, Bitcoin saw a little drop to $9100 before seeing a rebound which is still shaky for an upswing. Nevertheless, the $9500, $9770, $9980 and $10350 are resistance for an upsurge.

BTCUSD, 4H Chart – October 30

Meanwhile, the RSI is still in a downward range but has currently found support at the 50 levels. The MACD moving averages have crossed down to show an ongoing sell, although the market is still positive. However, if Bitcoin plays bearish, we should expect support at $9000, meeting the descending support line (grey). A cross below the grey line might lead BTC to $8800 and back to the last consolidation zone at $8500 and $8300

Bitcoin (BTC) Price Analysis: Hourly Chart – Bullish

As the $9300 price zones could no longer hold, Bitcoin had stylishly broken the three-day triangle formation to the downside as bearish come-back is at hand. We may see a short opening to $9000 support soon. The $8900 and $8800 support may further follow if the supply turns heavy.

BTCUSD Hourly Chart-October-30

Interestingly, the RSI has now slipped below the 50 level but the MACD is still indecisive at the moment. Meanwhile, we can say the short-term sellers are in play. In case the bulls can defend the $9000 support firmly, we can then expect a quick rebound. However, the important resistance, for now, is $9300, $9500 and $9680.

BITCOIN SELL SIGNAL

Sell Entry: $9277
TP: $9100
SL: $10000

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ESMA and ASIC expected Australian cooperation

It was not that long ago that European financial regulator ESMA (European and Markets Authority) imposed a restriction for brokers to give out bonuses for deposits. That happened after some of the EU countries, like Belgium, decided to ban any promotion of binary options.

Not only it affected the ability of traders to get any bonuses from brokers, but it also imposed new rules on withdrawals, which will now take longer to receive if you are using bank transfers to do so.

However, new ESMA regulations had little effect in other countries. There were still thousands of traders that could benefit from the hot XM no deposit bonus promo and kick start their trading journey with an account preloaded with 250 ZAR, which is an equivalent of 30 USD.

Australian benchmarks & ESMA/ASIC cooperation
On October 20, ESMA and Australian regulator ASIC (the Australian Securities and Investments Commission) announced that they have successfully signed a Memorandum of Australian benchmarks.

Earlier this year, in June, Australia’s legal and supervisory framework was recognized as equivalent to corresponding requirements under the EU Benchmarks Regulation. That allowed EU-supervised entities to use benchmarks declared significant by ASIC.

The EU Benchmark Regulation (BMR), in turn, unites a European common framework to provide the integrity of benchmarks used with the EU borders.

Australia’s legal and supervisory framework applicable to financial benchmarks that correspond to the BMR requirements was recognized by the European Commission.

Significance of MoU
The agreement is very important, as MoU ensures appropriate cooperation arrangements to be set out. That should complement the EU’s equivalence decision and ensure effective information exchange between members.

Comments
ASIC Chair, James Shipton declared:
“Enhancing and improving regulatory cooperation with our international counterparts is a priority for ASIC…”

“We are very pleased to announce this agreement and look forward to our cooperation with ESMA in the future. When we provide mutual assistance to each other and exchange views and information, this helps ASIC to achieve its vision for a fair, strong, and efficient financial system for all Australians.”

While ESMA Chair, Steven Maijoor, said:
“The use of financial benchmarks in global capital markets is important for market participants and their accuracy and reliability need to be ensured at all times. In order to help regulators achieving these objectives, I am pleased that the ESMA-ASIC Memorandum of Understanding will support European regulators and ASIC to work together on a sound legal basis.”

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