China News by Thebittimes.Com

Summary ⚈ Nexo and Quant are showing overbought RSI levels, signaling possible corrections ⚈ Nexo has gained after reentering the U.S. market amid bullish sentiment ⚈ Price outlook depends on the broader market, especially Bitcoin crossing $95,000 The cryptocurrency market is in a consolidation phase, but several digital currencies are witnessing increased buying pressure, pushing them into the overbought zone. Indeed, these cryptocurrencies are recording high Relative Strength Index (RSI) readings, which point to a potential crash in the coming week. Nexo (NEXO) and Quant (QNT) are among those showing signs of being overbought, making them risky bets for traders. Nexo (NEXO) Crypto lending entity Nexo is witnessing increased activity after announcing its re-entry into the U.S. market. Co-founder Antoni Trenchev has credited the move to a more favorable regulatory environment under the Donald Trump presidency.  Notably, Nexo exited the U.S. in 2022 fo...

A Thursday release from the Financial Times claims that DCG subsidiary Genesis Global Trading has amassed a debt of over $3B to its creditors. DCG is currently under increased public scrutiny, as the company battles to stay on its feet. DCG’S VC Holdings Add Up to $500M According to the report, the broker’s creditors include exchanges Gemini and Bitvavo, alongside crypto savings company Donut. To address Genesis’ significant debt, Digital Capital Group is reportedly considering offloading a portion of its venture capital portfolio. The publication also cited sources close to the matter who provided some insight into DCG’s holdings.  Digital Currency Group reportedly runs one of crypto’s biggest venture portfolios. The company has provided backing for various big-name platforms including Coinbase, and Kraken. DCG has also invested in US bank Silvergate and digital wallet company Circle as well as less popular entities. Per the release, the VC firm’s portfolio includes over 200...