First Ethereum Bond by Banco Santander Gets Settled as Crypto Trader Becomes ETH-Bullish

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Tue, 12/10/2019 - 12:33
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Yuri Molchan
The Whale Alert Twitter account records a $99,000 payout on the Ethereum-based bond by Santander, while a crypto trader expects ETH price to start growing
First Ethereum Bond by Banco Santander Gets Settled as Crypto Trader Becomes ETH-Bullish
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The Whale Alert Twitter account has reported a quarterly payout of $99,000 on the first blockchain bond launched by the Santander banking group on the Ethereum ledger back in September.

In the comment thread, some users now say they expect the ETH price to spike.

The first Ethereum-based bond from Santander

The Banco Santander press release from September 12 says:

“The bank issued the bond directly onto the blockchain and the bond will also continue to exist only on the blockchain: a first step towards a potential secondary market for mainstream security tokens in the future.”

“The goal for Santander CIB is to engage with our most innovative clients as we move from the project stage to product development.”

The issued bond is worth $20 mln and one of the banking group’s units purchased it. It was settled via Ethereum as well via tokenized cash.

Whale Alert reports the first quarterly payout

The Twitter bot that follows large transactions on various blockchains has published the data on this particular payment made in three parts, providing links to Etherscan.

One of the users in the comment thread has assumed that the price of ETH should surge after this.

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Crypto traders going bullish on ETH

A crypto trader @TheCryptomist writes that the ETH price has been in the Falling Wedge pattern for three days now. After staying in this pattern, an asset price is often likely to make a bullish reversal.

The Cryptomist sees only one opportunity for bears to take over, however, she is inclined to be ETH-bullish.

There is another major factor for Ethereum that makes many believe in its bullish movement at least in the long-term – on December 8, the Istanbul hard fork took place, which promises to solve scalability issues and make the blockchain ditch the Proof-of Work algorithm for the Proof-of-Stake one.

Another trader made a bullish forecast on ETH, saying that in summer 2020 the price may hit $423.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.