Bitcoin's price is predicted to experience a significant increase, rekindling interest in the cryptocurrency once again. It witnessed a notable surge of over 11% in the past week. Adding fuel to the fire, the launch of #EDX , a new digital exchange, alongside the increasing institutional interest in cryptocurrencies, creates a favorable environment for Bitcoin's growth. Amidst this excitement, prominent investor Cathie Wood shared her optimistic views. Wood believes that #bitcoin could reach an astonishing $1 million. Additionally, she expressed confidence in Coinbase, a leading cryptocurrency exchange, further highlighting positive sentiments for the industry. With all these factors at play and such a notable price movement, the question arises: Are we on the path to reaching the significant milestone of $30,000? Let's explore! EDX Launch and Increased Institutional Crypto Activity Boost Bitcoin's Momentum EDX Markets announced on Tuesday the successful launch of the digital asset marketplace and completion of its investment round with new equity partners. The exchange now enables the trading of popular cryptocurrencies such as Bitcoin (BTC), #Ethereum (ETH), #Litecoin (LTC), and Bitcoin Cash (BCH). Prominent investors in EDX include Charles Schwab, Citadel Securities, Fidelity Digital Assets, Paradigm, Sequoia Capital, and Virtu Financial. Plans for cryptocurrency trading platforms by Schwab, Citadel, and Fidelity were unveiled in June of last year.

#REXBOX

Predicting Bitcoin's Price Surge and Dominance

EDX Crypto Exchange, Supported by Fidelity, Schwab, and Citadel, Launches Trading of 4 Cryptocurrencies

#EDX Markets, a cryptocurrency exchange backed by major players in the financial industry including Fidelity Digital Assets, Charles Schwab, Citadel Securities, Paradigm, Sequoia Capital, and Virtu Financial, has successfully launched its digital asset market. The platform offers trading services for four prominent cryptocurrencies: #bitcoin ( $BTC ), #Ethereum ( $ETH ), #Litecoin ( $LTC ), and #Bitcoincash (BCH). This article explores the details of the launch, the unique features of the exchange, and the significance of the involvement of such renowned investors.

EDX's Unique Non-Custodial Model

One of the notable features of EDX is its non-custodial model, which aims to mitigate conflicts of interest. Unlike traditional exchanges that hold users' funds, EDX allows traders to maintain control over their digital assets throughout the trading process. This model enhances security and aligns with the decentralized nature of cryptocurrencies, providing users with greater peace of mind.

Improved Retail Pricing and Future Plans

EDX has introduced a retail-only quote to the crypto markets, offering participants the advantage of better pricing for retail-originated orders. This move aims to provide retail traders with more competitive pricing and a level playing field in the market. Additionally, EDX plans to launch EDX Clearing later this year, enabling the settlement of trades matched on its platform.

Investment Round and Strategic Partnerships

In conjunction with the launch, EDX Markets completed a recent funding round that included strategic investors such as Miami International Holdings, DV Crypto, GTS, GSR Markets Ltd., and HRT Technology. These new partnerships further solidify the platform's position in the crypto market and highlight the growing interest from established players in the industry.

Industry Confidence Amid Regulatory Uncertainty

EDX Markets' launch comes at a time when regulatory scrutiny of cryptocurrency trading platforms is increasing. The U.S. Securities and Exchange Commission (SEC) has been focusing on unregistered platforms and securities tokens. However, the involvement of prominent investors like Fidelity, Schwab, and Citadel indicates their confidence in the potential of the U.S. crypto industry, even in the face of regulatory challenges.

Bullish Outlook and BlackRock's Bitcoin Trust Filing

EDX's launch aligns with a broader trend of increasing optimism within the crypto industry. BlackRock, the world's largest asset manager, recently filed with the SEC to launch a bitcoin trust, potentially paving the way for a bitcoin exchange-traded fund (ETF). Despite the SEC's previous rejections of ETF applications, the filing demonstrates ongoing efforts to expand cryptocurrency investment options in the United States.

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EDX Markets, a new player in the crypto exchange space, has made its official debut with the backing of renowned financial entities. Supported by heavyweights such as Charles Schwab, Fidelity Digital Assets, and Citadel Securities, #EDX Markets is poised to make a significant impact on the cryptocurrency trading landscape.

With a focus on providing a secure and reliable trading platform, EDX Markets aims to cater to both institutional and retail investors. The involvement of such established financial institutions brings a sense of credibility and trust to the exchange, assuring users of a professional and regulated trading environment.

The launch of EDX Markets comes at a time when the demand for cryptocurrency trading is soaring, with Bitcoin and other digital assets gaining mainstream recognition. The exchange's strategic partnerships and financial backing give it a competitive edge in attracting traders and investors seeking a reliable platform to buy, sell, and trade cryptocurrencies.

By leveraging the expertise and resources of its prominent backers, EDX Markets aims to offer a seamless trading experience and provide access to a wide range of cryptocurrencies. The exchange is expected to implement robust security measures to safeguard user funds and personal information, prioritizing the protection of assets in line with industry best practices.

Furthermore, EDX Markets aims to contribute to the growth and maturation of the crypto market by fostering transparency, liquidity, and market efficiency. The involvement of well-established financial institutions signifies their recognition of the potential and importance of cryptocurrencies in the future of finance.

As the cryptocurrency industry continues to evolve, EDX Markets' entry into the market brings a new level of professionalism and institutional support. The backing of Charles Schwab, Fidelity Digital Assets, and Citadel Securities reflects their belief in the long-term viability of digital assets and the potential for significant growth in the sector.

Traders and investors looking for a reputable and regulated platform can now turn to EDX Markets to access the exciting world of cryptocurrencies. With the support of its influential partners, EDX Markets is well-positioned to become a key player in the crypto exchange industry.

To stay updated with the latest developments and news from EDX Markets, be sure to follow Cryptogeeks for timely updates and insights on the crypto market.

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Crypto in 2023 THUS FAR:

BlackRock files for #Bitcoin B Spot ETF

PayPal launches #Ethereum stablecoin SPYUSD

Fidelity, Schwab & Citadel launch #EDX crypto exchange

Microsoft partners with #Aptos Labs

#Ripple wins case against SEC (Judge rules its "not a security"

$XRP

- OpenAI CEO Sam Altman launches #Worldcoin (Currently boasts 2.2 million sign ups)

-- Optimism $OP hits new All-Time High for daily transactions!

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In the most recent advancements within the cryptocurrency industry, Citadel, Fidelity, Charles Schwab, Sequoia Capital, Virtu Financial, and Paradigm have partnered to launch an innovative digital asset platform: #EDX Markets. This high-profile collaboration underlines the growing acceptance of digital assets among traditional financial institutions. Now, let’s dive deeper into the details of this development.

EDX Markets

A Remarkable Collaboration

Initiated by leading institutions, including Citadel and Charles Schwab the formation of EDX Markets represents a significant shift in the digital asset market. These companies, coupled with the venture capital prowess of Sequoia Capital, the trading expertise of Virtu Financial, and the innovative force of Paradigm, have combined their strengths to create this revolutionary platform. Their collaborative effort aims to bridge the gap between traditional finance and the cryptocurrency world, opening new avenues for traders and investors alike.

The EDX Markets Advantage: Non-Custodial Model

Emphasizing security and transparency, EDX Markets follows a unique non-custodial model. Instead of directly handling customer assets, EDX operates as a marketplace where trade prices are established by participating firms. By doing so, it addresses potential conflicts of interest, ensuring the interests of all parties involved are safeguarded. Furthermore, acting as an intermediary, EDX facilitates transactions between parties, offering a uniquely efficient setup for trade execution. This approach could serve as an effective model for other platforms looking to enhance their customer experience.

Delivering Exceptional Value

Above and beyond its non-custodial operation, EDX Markets is designed to provide exceptional benefits to its customers. Enhanced liquidity, competitive quotes, and the incorporation of best practices from traditional finance are just a few of the features EDX offers. These offerings, together with the security provided by the non-custodial model, position EDX as a preferred choice for industry leaders.

What's on the Horizon: EDX Clearing

According to the official press release, EDX is also planning the launch of EDX Clearing later this year. This service will further streamline the trading experience by enabling traders to settle trades matched on EDX Markets directly. For now, the platform supports trading in popular cryptocurrencies such as #bitcoin #Ethereum #Litecoin and #BitcoinCash

$BTC $ETH $LTC

We've discussed many strategies at Santiment that involve looking in corners of crypto that others have abandoned. #Pumps typically come out of nowhere with assets that you probably haven't thought about for quite some time.

Take #BitcoinCash (BCH) as an example. Over the past 9 days alone, its price has exploded +130%. Now obviously, this pump has a reason, as it was the biggest beneficiary among the 4 #assets (BTC, ETH, LTC, BCH) listed on #EDX last week.

For anyone familiar with the concept of "buy low, sell high", it's likely stating the obvious that buying BCH after the run it has been on is statistically more risky than, for a random example, buying Ethereum Name Service (ENS) after it has dropped 20% in the past month. But often, it's not as simple as just purchasing assets that have dropped a large amount in a short amount of time, and praying for a pump.

Santiment's MVRV model, for example, looks at 100+ assets and indicates the average trading returns across multiple periods of time. This way, you don't have to select an arbitrary time period and hope it's the correct one to make your #portfolio selections. Additionally, MVRV doesn't measure the raw percentage returns of an asset. It actually looks at the percentage returns according to the active traders for a given asset.

So essentially, we can use this model to quickly identify some of the worst performers from short, medium, and long term timeframes over the past year, and find the projects that are in the designated "opportunity zone".

According to the model's latest screenshot we have shared above, it appears Dodo (DODO), League of Kingdoms (LOKA), and Reef (REEF) are among the assets where traders are suffering the most, when combining 1-day, 7-day, 30-day, 90-day, 180-day, and 365-day timeframes.

To simplify, let's take a look at each asset on Sanbase and select just 30-day (short/mid term) and 365-day (long term) timeframes:

Dodo (DODO)

At the time of this writing, Dodo's 30-day MVRV sits at -18%. MVRV's of -20% or below are usually good signals of an impending (or at least eventually impending) bounce. Meanwhile, its 365-day MVRV is at -35%, which historically is in range of an asset that is showing a buy opportunity.

League of Kingdoms (LOKA)

It looks like there are indeed some heavy losses for LOKA. Its 30-day MVRV has actually bounced recently, and -9% is probably not as juicy as some other assets just yet. But the -50% 365-day MVRV indicates that long-term traders have been absolutely beaten down by the poor performance of LOKA over the past year.

Reef (REEF)

Reef's 30-day MVRV is, in fact, in the opportunity zone at the time of this writing, currently at -23%. And its 365-day MVRV looks equally intriguing at -38%. With plenty of pain being felt from the traders and hodlers of the #421 market cap asset, it could be worth looking into.

As a reminder, MVRV should be looked at on a gradual, scale basis. Not as a binary metric, where 30-day MVRV's go below 20% and it becomes an automatic buy candidate. View the lower it goes as a gradual better and better mathematical opportunity. But they can always go lower, and anomalies do happen!

And also, keep in mind that regardless of prices fluctuating, you do still need to be careful when making your trades solely on math. Assets rise and fall for fundamental reasons, such as hacks, rug pulls, new listings, etc. Always make sure you're still doing your research and know about the viability of these projects you're putting your hard earned money into.

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Disclaimer: The opinions expressed in the post are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security or investment product.