📰 News Alex Morris

Bitcoin News - Yale-Backed Hedge Fund Invests in Crypto Broker That Deals with Bitcoin (BTC), Ethereum (ETH) and Other Cryptocurrencies

📰 News
💰💣After getting mad money from David Swensen’s $30 bln endowment, Paradigm invests in a crypto broker that strives to change the face of digital asset trading 📊
Yale-Backed Hedge Fund Invests in Crypto Broker That Deals with Bitcoin (BTC), Ethereum (ETH) and Other Cryptocurrencies
You may also like:
Contents

Tagomi, the first live crypto brokerage that offers services to seasoned high-net-worth investors who deal with Bitcoin (BTC), Ethereum (ETH) and other digital assets, has raked in $28 mln during its recent funding round. The fresh set of financing was led by two crypto oriented hedge funds — Paradigm and Pantera Capital.      

💼 Related Article
Harvard and Other Respectable Universities Start Buying Crypto
🔥 Hot
5 months 1 week
256
Harvard and Other Respectable Universities Start Buying Crypto

David Swensen’s bet on crypto  

As reported by U.Today, David Swensen, the legendary investor behind Yale’s $30 bln endowment, jumped on the crypto bandwagon back in October 2018 when he invested in Andreessen Horowitz and Paradigm.

Paradigm is a hedge fund that puts money in new cryptocurrency startups. It wasn’t disclosed how much money Paradigm got from Yale, but it managed to raise a whopping $400 mln.

Luring in sophisticated investors

Paradigm’s Matt Huang is excited that the partnership is the next step in the development of cryptocurrency trading. Meanwhile, Pantera Capital CEO Dan Morehead also calls it ‘a critical step’ when it comes to improving the execution of cryptocurrency transactions for their fund.

After the successful funding round, Tagomi is expected to expand its operations in order to keep up with client demand. Notably, the startup was launched in March (when Bitcoin had already tanked), but its clients are bullish on the underlying technology behind cryptocurrencies.

The fastest way to get crypto news is to follow our Twitter. You won’t miss a thing! Subscribe.
📰 News
333 views
👓 Recommended articles
something-wide
something-wide
Jack Thomas

Bitcoin News - LTC, BNB, TRX, and Others Can Make This a True Altcoin Season — How Can Bitcoin React?

☀️📈Since the Crypto Winter started thawing, all the main action has come from altcoins, and now a few are breaking key moving averages
LTC, BNB, TRX, and Others Can Make This a True Altcoin Season — How Can Bitcoin React?
You may also like:
Contents

While the cryptocurrency market may not be fully bullish and breaking new records in terms of gains and growth, one thing that seems to be apparent is that the total bear market is starting to draw to a close. There has been a lot more positive sentiment in the past few weeks and months.

A lot of this has had to do with a few altcoins putting on good performances in the market. Thanks to positive news with a number of top 20 coin projects, their own token value has been rising – as well as importantly staying up.

Now, there is technical analysis that suggests that coins like Litecoin, Tron and Binance Coin, as well as lesser-known Maker, are trading above their 200-day moving averages, a development typically considered a sign of a healthy market.

This is good news across the board, but what is interesting to keep an eye on is whether Bitcoin will manage to keep up, outdo the altcoins, or potentially start falling behind, enforcing a true altcoin season.

Making a move

Of the top 20 largest cryptocurrencies by market capitalization as per CoinMarketCap, both the BTC and USD pairs of Litecoin, Binance Coin, Tron, and Maker are currently trading above their respective 200-day moving averages.

A moving average is simply an ongoing calculation of the closing prices of an asset over a specified period of time, but is also a tool traders use to gauge the asset’s trend direction as well as support and resistance levels.

These positive moves by top ranked cryptocurrencies are thus reinforcing the notion that the cryptocurrency market is heading towards spring again.

However, Bitcoin, as the head and the mover of the cryptocurrency market, is still trading below its own 200-day moving average, which could also be a reason why people are skeptical of flooding back into the market.

Altcoin season?

While Bitcoin has often been the catalyst and mover of the direction of the markets – and still predominantly is today – there have been times where the remainder of the coins take charge of the direction of things.

It is still early in the supposed Crypto Spring, but with altcoins making the biggest movements and helping prop up the market, one could assume that the market is heading for another altcoin season.

The last one was seen soon after Bitcoin’s All Time High as the remaining coins caught the tailwind of that astronomical growth, but things could well be reversed here if a few more major altcoins catch up and can cross their own 200-day moving averages.

Subscribe to the official U.Today Telegram channel. Get news first!
419 views
👓 Recommended articles
something-wide
something-wide