Blockchain.com Will Allow Retail Wallet Users to Borrow USD Stablecoins With Cryptocurrency

The digital assets lending field seems to be heating up with Blockchain.com starting to offer lending directly to retail consumers globally. Borrowed USD stablecoins can be used by crypto traders to fund their next trades and thus increase the leverage of their holdings.

Popular Wallet to Offer Crypto Lending for Global Retail Users

Blockchain.com, the provider of cryptocurrency services with over 46 million wallets created to date, has launched Borrow, a product offering retail users to borrow USD-pegged stablecoins against crypto assets held in their wallets. The new lending service is now available to users in more than 180 countries.

This launch follows the launch by Blockchain.com of an institutional lending desk in August 2019, which was handling $120 million a month by November. And the company said it will be offering retail users access to the same liquidity pool as institutional investors.

Blockchain.com Will Offer Retail Wallet Users to Borrow USD Stablecoins With Cryptocurrency

The company explained that as soon as the collateral is posted, users receive their loan and are free to use the stablecoins however they see fit. This means that retail traders can also use it to fund new trades without cashing out their previous investments and thus increase their leverage.

“Institutional and retail investors have the same financial goals – grow wealth and manage risks – but the tools at their disposal are vastly different,” commented Peter Smith, CEO of Blockchain.com. “Now, with our suite of trading products and Borrow, retail users can trade like the big guys without selling the crypto they’ve stockpiled or leaving their wallet.”

Digital Asset Lending Field Is Getting Crowded

On Thursday, March 5, custody service provider Bitgo announced that it is now offering institutional digital asset lending services after a few months of private beta. The lending service was said to be built by a Wall Street team that understands institutional investors’ needs.

“Our goal was to build a lending business that is similar to lending businesses in the traditional financial markets,” said Nick Carmi, Head of Financial Services, Bitgo. “We are not interested in a high-volume, low-margin business; we are building deep relationships with our clients to drive value for them and to create a long term, sustainable business.”

Blockchain.com Will Offer Retail Wallet Users to Borrow USD Stablecoins With Cryptocurrency

Babel Finance, a Chinese crypto lending company, also released its 2019 annual report on March 5. In its outlook on 2020 the report noted that “The lending market is increasingly crowded because of the horizontal development strategy adopted by various crypto finance players.” Still, the company’s outstanding loan balance broke a new record high this year, reaching $380 million on February 18, 2020.

Alibaba Offers Bitcoin Rewards Through Lolli Shopping App for ‘Singles Day’

Leigh Cuen

Posted by Leigh Cuen Nov 11, 2019

Lolli, an affiliate retail startup that gives online shoppers bitcoin instead of regular cash-back perks, just announced its first Asian partnership with Chinese e-commerce giant Alibaba.

Lolli’s in-browser app allows users to shop through merchants’ websites as they normally would, but earn small bitcoin rewards delivered to the in-browser wallet.

CoinDesk reached out to Alibaba for comment and will update the article if we hear back.

This announcement comes on Singles Day, the Nov. 11 Chinese shopping holiday comparable to the U.S.’s Black Friday. Alibaba Group’s online Singles Day sales have reportedly generated more than $23 billion so far this year.

However, Lolli’s head of communications, Aubrey Strobel, told CoinDesk that Lolli perks will only be available to purchases made in the U.S. For Chinese-Americans, foreign students or travelers, this new option could add additional perks if they participate in online holiday sales, but residents in China will be unable to participate.

“Its products would be shipped from China to U.S. users,” Strobel said.

Lolli CEO Alex Adelman referred to this partnership as a milestone for the startup, which plans to expand internationally in 2020.

“This partnership is a great first step to connect the two largest economies, China and the US, through bitcoin and commerce,” he told CoinDesk. “The opportunity is available for US users only for now but we plan to expand internationally soon, letting everyone in the world easily earn and own bitcoin.”

Stepping back, several cash-back crypto startups are gearing up for the holiday shopping season. There are now several bitcoin retail apps, including competitors like Fold, Pei and SPEDN, targeting customers over the 2019 holiday shopping season, offering more bitcoin options than in previous years.

Bitcoin Price Will See $16,000 ‘Soon-Ish,’ Predicts Binance CEO CZ

Posted By Adrian Zmudzinski – CoinTelegraph

Bitcoin Price Will See $16,000 ‘Soon-Ish,’ Predicts Binance CEO CZ

Changpeng Zhao, the CEO of major cryptocurrency exchange Binance, says a price of $16,000 per Bitcoin will happen “soon-ish,” in a tweet sent on Nov. 1. Zhao explains that price predictions are easy, but getting the timing right is hard. 

He said:

“Lol, price predictions are easy. It’s just hard to be right about the timing. We will see $16k soon-ish. 1.4 billion people working on it as we speak.”

The message was an answer to the tweet of another user who pointed out that the prediction of an anonymous 4chan user predicting Bitcoin’s price would hit $16,000 by the end of October turned out to be wrong. The given prediction also stated that BTC will hit $29,000 in the first quarter of next year, $56,000 in Q3 2020 and $87,000 in Q4 2020.

At the same time, other predictions are actually less modest. John McAfee, for example, doubled down recently on his $1M Bitcoin by 2020 prediction, arguing that Bitcoin’s next price surge will be triggered by its scarcity. 

As Cointelegraph reported, the Bitcoin network mined its 18 millionth BTC last month, which means there are only 3 million BTC not yet in circulation.

Bitcoin (BTC) Price Rally Reaches Inflection Point: $6.1K and $6.8K Hold Key

  • Bitcoin price rallied another 4% and climbed above $5,850 against the US Dollar.
  • The price is surging higher, but there are many hurdles near $6,000, $6,070 and $6,100.
  • There was a break above a crucial bearish trend line at $4,730 on the daily chart of the BTC/USD pair (data feed from Kraken).
  • The pair could spike above $6,000 or even towards $6,800 before correcting lower sharply.

Bitcoin price is surging higher towards $6,000 against the US Dollar. BTC could extend gains, but it is facing two important hurdles near $6,100 and $6,800 on the daily chart.

Bitcoin Price Analysis

In the past few days, there was a steady rise in bitcoin price from the $4,000 swing low against the US Dollar. The BTC/USD pair broke the $4,400 and $4,700 resistance levels to start a strong upward move. There was even a close above the $4,200 resistance and the 100-day simple moving average. The bulls pushed the price above the 50% Fib retracement level of the last major decline from the $6,562 high to $3,115 low.

More importantly, there was a break above a crucial bearish trend line at $4,730 on the daily chart of the BTC/USD pair. Recently, the pair broke the $5,250 and $5,500 resistance levels to extend gains. It is now trading well above the 76.4% Fib retracement level of the last major decline from the $6,562 high to $3,115 low. These all are positive signs, suggesting more gains above the $5,900 level. However, there are many hurdles on the upside near the $6,000, $6,070 and $6,100 levels. The $6,070 level was the previous breakdown support and it may now prevent gains.

If there is an upside break above $6,100, there could be an upside extension towards the $6,532 swing high. The main resistance above $6,500 is near the $6,800 level, the main pivot zone of Oct 2018. Therefore, there are chances of a strong bearish reaction from $6,100, $6,500 or $6,800 in the coming days.

Looking at the chart, bitcoin price seems to be gaining pace above the $5,500 and $5,600 levels. Having said that, the bulls are likely to face a strong offer zone near $6,000, $6,070 and $6,100. If there is a successful close above $6,100, the price may climb higher towards $6,500 or even $6,800 before starting a substantial downside correction. On the downside, there are many supports near $5,540, $5,450 and $5,250. Below these, the price may revisit $5,000.

Technical indicators:

Daily MACD – The MACD is gaining bullish momentum with many positive signs.

Daily RSI (Relative Strength Index) – The RSI for BTC/USD climbed above the 70 level and it seems to be heading towards the 80 level.

Monthly Support Levels – $5,450 followed by $5,250.

Monthly Resistance Levels – $6,070, $6,500 and $6,800.