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6 Questions for Annabelle Huang of Amber Group

We ask the buidlers in the blockchain and cryptocurrency sector for their thoughts on the industry… and throw in a few random zingers to keep them on their toes!

 

This week, our 6 Questions go to Annabelle Huang, the managing partner at Amber Group, a global leading digital asset platform.

 

Prior to Amber Group, I served as the Asia lead at AirSwap, a decentralized trading platform that enables peer-to-peer trading on the Ethereum blockchain. Before transitioning into digital assets, I advised private equity funds, U.S. corporates and hedge funds on structured solutions and risk management as an FX structurer at Deutsche Bank and Nomura in New York. My background in traditional financial markets, coupled with my experience in institutions and macro markets, has given me a unique vantage point in developing the product strategy and solutions delivered through Amber Group. 

Weekly Overview

El Salvador president addresses bear market concerns with Bitcoin hopium

As tensions rise amid falling BTC prices, President Nayib Bukele decided to share advice for fellow Bitcoin investors that may be concerned about the prolonged bear market.

Regulations

Elon Musk’s support for Dogecoin grows stronger following $258B lawsuit

Musk was seemingly unshaken about the allegation as he doubled down on his love for the Dogecoin ecosystem with a tweet saying, “I will keep supporting Dogecoin.”

Altcoins

Crypto prices continue to tank, lawsuit takes aim at Binance.US, and Celsius moves $320M worth of digital assets: Hodler’s Digest, June 12-18

Ethereum

Crypto prices continue to tank, lawsuit takes aim at Binance.US, and Celsius moves $320M worth of digital assets: Hodler’s Digest, June 12-18

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.

Top Stories This Week

 

 

Binance ends support for anonymous Litecoin transactions

Binance has decided to ban Litecoin (LTC) transactions sent through the most recent MimbleWimble (MWEB) upgrade from its exchange, noting that such transactions would now result in the loss of the related LTC. Binance isn’t delisting LTC entirely, unlike other exchanges that have decided to remove the cryptocurrency. Among its changes, the latest Litecoin MWEB update ushered in privacy features. Binance’s decision to end support for these transactions comes as global crypto regulation remains an ever-present focal point in the industry.

 


Altcoins

Crypto prices continue to tank, lawsuit takes aim at Binance.US, and Celsius moves $320M worth of digital assets: Hodler’s Digest, June 12-18

Regulations

Crypto prices continue to tank, lawsuit takes aim at Binance.US, and Celsius moves $320M worth of digital assets: Hodler’s Digest, June 12-18

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.

Top Stories This Week

 

 

Binance ends support for anonymous Litecoin transactions

Binance has decided to ban Litecoin (LTC) transactions sent through the most recent MimbleWimble (MWEB) upgrade from its exchange, noting that such transactions would now result in the loss of the related LTC. Binance isn’t delisting LTC entirely, unlike other exchanges that have decided to remove the cryptocurrency. Among its changes, the latest Litecoin MWEB update ushered in privacy features. Binance’s decision to end support for these transactions comes as global crypto regulation remains an ever-present focal point in the industry.

 


Weekly Overview

Ethereum risks another 60% drop after breaking below $1K to 18-month lows

A 2018-like bearish cycle could have Ether drop toward $420 in the coming weeks.

Ethereum

Third non-EU country, Ukraine, joins the European Blockchain Partnership

With the ultimate goal of integrating its digital economic space with the EU, Ukraine plans to expand its interstate blockchain network partnership with other countries.

Regulations

Magic Internet Money token depegs as LUNA domino effect persists

Citing an insider scoop, Autism Capital claimed that Abracadabra accrued $12 million in bad debt as a direct result of Terra’s sudden downfall, which has been refuted by founder Daniele Sestagalli.

Altcoins

Coinbase is facing class-action suits over unstable stablecoins GYEN, USTC

The cryptocurrency exchange is accused of failing to do due diligence, among other things, after users lost large sums as a result of the depegging of stablecoins.

Regulations

Stablecoins highlight ‘structural fragilities’ of crypto — Federal Reserve

“Stablecoins that are not backed by safe and sufficiently liquid assets and are not subject to appropriate regulatory standards create risks to investors,” said the Fed report.

Regulations

Market selling might ease, but traders are on the sidelines until BTC confirms $20K as support

BTC and altcoins could continue to see selling, but a positive is that traders took shelter in stablecoins instead of completely exiting the crypto market.

Altcoins

Sweeping layoffs, hiring and firing as crypto prices take a massive downturn

Brutal economic conditions coupled with dramatically falling crypto prices have led to massive layoffs within the blockchain industry.

Ethereum

Price analysis 6/17: BTC, ETH, BNB, ADA, XRP, SOL, DOGE, DOT, LEO, AVAX

Bitcoin price struggles to hold support at $20,000, and the outcome of this battle between bulls and bears will determine the next directional move.

Ethereum

Price analysis 6/17: BTC, ETH, BNB, ADA, XRP, SOL, DOGE, DOT, LEO, AVAX

Bitcoin price struggles to hold support at $20,000, and the outcome of this battle between bulls and bears will determine the next directional move.

Altcoins

Ethereum price risks a drop below $1K if these key price metrics turn bearish

Two key Ethereum price metrics have yet to turn bearish, but it won’t take much to trigger an ETH drop below $1,000.

Ethereum

Ethereum price risks a drop below $1K if these key price metrics turn bearish

Ether (ETH) price is down 37.5% in the last seven days and recent news reported that developers decided to postpone the network's migration to a proof-of-stake (PoS) consensus. This upgrade is expected to end the dependency on proof-of-work (PoW) mining and the Merge scalability solution that has been pursued for the past six years.

Competing smart contracts like BNB, Cardano (ADA) and Solana (SOL) outperformed Ether by 13% to 17% since June 8 even though there was a market-wide correction in the cryptocurrency sector. This suggests that the Ethereum network's issues also weighed on the ETH price.

The "difficulty bomb," feature was added to the code in 2016 as plans for the new consensus mechanism (formerly Eth2) were being formed. At the peak of the so-called "DeFi summer," Ethereum's average transaction costs surpassed $65, which was frustrating for even the most fervent users. This is precisely why the Merge plays such an important part in investors' eyes and, consequently, Ether price.

Options traders remain extremely risk-averse

Traders should look at Ether's derivatives markets data to understand how whales and market makers are positioned. The 25% delta skew is a telling sign whenever professional traders overcharge for upside or downside protection.

If traders expected an Ether price crash, the skew indicator would move above 10%. On the other hand, generalized excitement reflects a negative 10% skew. This is precisely why the metric is known as the pro traders' fear and greed metric.

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Altcoins

XRP price technical breakdown boosts chances of a 40% drop by July

Ripple (XRP) price stares at potential losses in the coming weeks as it breaks out of a "descending triangle" pattern, with its bias skewed toward the downside.

Major XRP breakdown underway

To recap, XRP started forming the technical structure after reaching $1.98 in April 2021, its second-highest level to date. In doing so, the token trended lower inside a range defined by a falling resistance trendline and a horizontal support trendline.

On May 16, 2022, XRP broke below the triangle's support trendline, accompanying a decent increase in trading volumes.

The move confirmed the descending triangle as a bearish reversal indicator. Meanwhile, as a rule of technical analysis, XRP now risks extending its downside move by as much as the triangle's maximum height when measured from the breakdown point, as shown below.

XRP/USD weekly price chart featuring 'descending triangle' breakdown setup. Source: TradingView

This could have XRP drop to $0.18 by July 2022, down nearly 40% from June 1's price. 

Altcoins

Tether's USDT market cap dips below $70B for an 8-month low

Amid Tether losing market share over the past few weeks, the Circle-backed USDC stablecoin has been growing notably, with the market value surging to $55 billion.

Altcoins

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