Skip to main content

Biggest Movers: CRO Rebounds as CEO Kris Marszalek Admits ‘Trust Was Damaged’

On Nov. 14, cronos rebounded, as Crypto.com CEO Kris Marszalek held an “Ask me Anything” (AMA) session, while speculation grew on the company’s level of solvency. The concerns came after it was revealed that a transfer of $400 million was made to gate.io in recent weeks. Polygon also surged on Monday, as prices attempted to break out of a key resistance level.

Cronos (CRO)

Cronos (CRO) rebounded on Monday, as markets responded to Crypto.com CEO Kris Marszalek’s comments on recent speculation surrounding the company’s health.

Following a low of $0.05629, CRO/USD rallied to an intraday high of $0.07459 earlier in today’s session.

The surge comes as Marszalek admitted that, “Trust was damaged, if not lost, and we need to focus on rebuilding trust.”

Looking at the chart, today’s move saw CRO rebound from an all-time low, and as of writing the asset is trading nearly 8% higher, at $0.07051.

In addition to this, the 14-day relative strength index (RSI), is currently tracking at 32.99, which is below a ceiling of 36.20.

Overall, CRO is down by 42% from the same point last week.

Polygon (MATIC)

Polygon (MATIC) was another notable gainer on Monday, as the token attempted to reenter the $1.00 region.

MATIC/USD surged to a peak of $0.9573, which comes less than a day after hitting a low of $0.8412.

Today’s rebound in price saw MATIC briefly breakout of a resistance level of $0.95, however it has since slipped below this point.

As can be seen from the chart, prices have somewhat stuttered, as the RSI neared a collision with a ceiling of its own.

The index is currently tracking at 48.07, which is marginally below the aforementioned resistance of 49.00.

Should MATIC bulls intend to take the token back above $1.00, price strength will first need to move beyond this 49.00 point.

Register your email here to get weekly price analysis updates sent to your inbox:

Could we see polygon move back above $1.00 in the coming days? Let us know your thoughts in the comments.



from Bitcoin News https://ift.tt/V6vcWUX
Labels:

Comments

Post a Comment

Popular posts from this blog

Mt Gox Creditors Updated, Trustee Says Rehabilitation Custodian Is ‘Currently Preparing to Make Repayments’

On August 31, 2022, the Mt Gox trustee Nobuaki Kobayashi explained in a recent letter that the rehabilitation custodian is “currently preparing to make repayments” to Mt Gox creditors. Trustee Updates Mt Gox Creditors — Repayment Date and Exchange Still Unknown Last week speculation and rumors concerning the release of 140K bitcoin ( BTC ) from Mt Gox littered social media platforms and headlines. Bitcoin.com News covered the situation six days ago as a number of people and Mt Gox creditors called the rumors “ fake news .” During that same period of time, a bitcoin whale transferred 10,000 BTC to unknown wallets, and a 2018 annotation , heuristics, and clustering methods show the funds likely originated from the June 2011 Mt Gox hacks. Following the mysterious whale transfer, last Wednesday, Mt Gox published an official update from the court trustee Nobuaki Kobayashi that explains the court is “currently preparing to make repayments” to creditors. Mt Gox creditors have been wait...
Post a Comment
Read more

Fidelity Discusses Bitcoin as Portfolio Insurance — Could Soon Stand in ‘Stark Contrast’ to Path Fiat Currencies Take

Fidelity Digital Assets, a subsidiary of Fidelity Investments, says that bitcoin could be considered portfolio insurance. The firm notes that the cryptocurrency “may soon stand in stark contrast to the path that the rest of the world and fiat currencies may take — namely the path of increased supply, additional currency creation, and central bank balance sheet expansion.” Fidelity Says Bitcoin Could Be Portfolio Insurance Fidelity Digital Assets, a subsidiary of Fidelity Investments, recently published a research study titled “The Rising Dollar and Bitcoin.” The research outlines “how bitcoin could be considered portfolio insurance” as the rising dollar impacts global currency markets. “The strengthening U.S. dollar is wreaking havoc among other countries and may put pressure on the Federal Reserve to soon reverse its tightening monetary actions, something that has precedent based on 1985’s Plaza Accord,” Fidelity explained. In addition, “more monetary debasement may be needed to ...
Post a Comment
Read more

Economists Discuss Russia, China Potentially Developing Gold-Backed Currency That Could Undermine US Dollar

Economists have weighed in on reports that China and Russia may be developing a new gold-backed currency that could undermine the U.S. dollar’s status as the world’s primary reserve currency. Russia and China May Be Developing Gold-Backed Currency Several experts have shared their views on Russia and China potentially creating a new gold-baked currency, Fox Business reported Saturday, emphasizing that China has been buying up huge quantities of gold while Russia was forced off the U.S. dollar due to sanctions imposed on the country following its invasion of Ukraine. The news outlet noted that some experts have cautioned that these moves, along with the closer relationship that has developed between Moscow and Beijing, point to the likelihood of China attempting to launch a gold-backed currency. However, neither Russia nor China has officially confirmed plans for such a currency. Craig Singleton, senior fellow at the Foundation for Defense of Democracies and a former U.S. diplomat,...
Post a Comment
Read more