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Swiss Bank Seba Now Enables Clients To Earn Income With Crypto Holdings

A Swiss bank approved by FINMA, Seba, has launched a program that allows clients to profit from their crypto holdings. In addition, the bank “will provide support for centralized lending and lending services, enabling investors to generate income by borrowing bitcoin and ethereum directly from Seba Bank.”

Seba Earn Allows Customers To Generate Rewards With Crypto Investments

Seba Bank, a digital asset banking platform licensed by the Federal Financial Market Supervisory Authority (FINMA), announced on Wednesday the launch of Seba Earn. The Switzerland-based bank described the new offering as “an institutional grade solution that allows customers to earn income from their crypto holdings.”

Noting that “the launch of Seba Earn responds to the growing demand from institutions to handle a variety of digital asset performance use cases, from holding companies to decentralized finance (challenge) and centralized lending and lending,” explained the bank :

Seba Earn's comprehensive engagement management platform will enable institutions and individuals to generate rewards from their crypto investments on networks such as Tezos, Polkadot and Cardano, with more protocols in the coming months .

Additionally, the ad explains:

Seba Earn will also provide support for centralized lending and lending services, enabling investors to generate income by borrowing bitcoin and ethereum directly from Seba Bank.

The bank also noted that it “will continue to integrate support for additional currencies.”

Guido Buehler, CEO of Seba Bank, commented: “It is clear that as institutional interest in digital assets accelerates, investors have a broader appetite for crypto assets, with a particular interest in crypto assets. ‘obtaining services such as staking, challenge, and centralized crypto lending and lending. “

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Ethereum: 7,000% increase until 2022 if history repeats itself

Bitcoin’s jump to $55.3K filled the market with euphoria, partially eclipsing Ethereum’s 5% gains in two days. As the main altcoin moved more slowly to the north, the expectation of a slow and steady rally grew in the market.

Ethereum, at the time of printing, was trading at $3,540, with daily gains of 1.23% versus gains of 5.73% for BTC. However, there were signs that history was repeating itself. So it seemed likely that ETH’s price would skyrocket on the charts.
Ethereum Fractal May Raise Prices

Fractals are useful indicators to identify turning points in the market. They are often used to identify the direction the price will move. Interestingly, Ethereum saw a fractal indicator in 2017 that included four technical patterns that increased the price of ETH by 7,000%.

The pseudonym analyst Jaydee_757 first saw the Etherum fractal and pointed out that the same set of bullish indicators flashed again in 2021.

In 2017, a bullish auction price structure pushed ETH’s monthly RSI into an extreme overbought zone above 94. This triggered a short-term sideways consolidation, lowered the RSI reading and, in turn, a correction in the Stochastic RSI.

However, in late 2017, the Stochastic RSI passed and became bullish with its blue line crossing the saffron line. This crossing between the %K and %D lines further reinforced the bullish search, giving way to 5x gains.

By January 2018, the value of altcoin had risen another 500%, closing above $1,200. It coincided with the RSI, forming a double top.

In particular, Ethereum seemed to reflect the same fractal movements as 2017 when it entered the fourth quarter of 2021. A strange similarity can be seen in the 2017 and 2021 RSI structures, as they both experienced a double top and are oversold in the market. . monthly chart.

After the bullish hammer blow, the price of ETH increased 70 times in just six months. In the longer term, the alt rose 3,400% to hit $4,300, 16 months after painting a bullish RSI crossover.
This is what the metrics tell us

Ethereum’s NVT index reached its highest value since February 2020 on October 4th. These high NVT values ​​indicate that the network value exceeded the value transferred to the network.

While this often involves a price bubble, in the case of ETH it can represent legitimate stages of growth.

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El Salvador begins mining Bitcoin using geothermal energy from volcanoes

El Salvador started mining Bitcoin (BTC) using geothermal energy extracted from volcanoes.

Salvadoran President Nayib Bukele, who led the country’s movement to adopt the BTC as legal tender, unveiled a teaser video to his 2.9 million followers showing clips from the new mining facility.

Bukele also shared a screenshot of a portfolio the country uses to collect the BTC generated by its mining operations. At the time of Bukele’s post, 0.00599179 BTC, valued at $286, had been extracted with energy from volcanoes.

“We are still testing and installing, but this is officially the volcano’s first Bitcoin mining operation.”

Bukele said in June that he asked El Salvador’s geothermal energy company LaGeoSV to create a Bitcoin mining facility using “very cheap, 100% clean, 100% renewable, zero energy. Emissions” from the country’s volcanoes.

The Central American nation, known as the “Land of Volcanoes”, became the first country in the world to adopt Bitcoin as its legal currency, despite protests and polls showing that a large part of the population does not disagree. .

About 25% of El Salvador’s current energy comes from geothermal energy, according to a report by Unidad De Transacciones, manager of the country’s electricity market.

Bitcoin changed hands at $48,061 at the time of writing, a 14% increase from the $41,002 seven-day low, according to CoinGecko.

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Uzbekistan warns citizens to avoid unlicensed cryptocurrency exchanges

A government agency in Uzbekistan has published a list of unauthorized cryptography changes that Uzbekistan residents have been urged to avoid. Trading platforms collect personal data and are not responsible for cryptocurrency transactions, authorities warned.

Uzbekistan authorities on the blacklist of “unofficial” cryptocurrency exchanges

The National Project Management Agency of the President of Uzbekistan has identified a number of online platforms that offer unauthorized encryption services. During an internet surveillance campaign, the organization reported an increase in the activity of these “unofficial” exchanges of digital assets.

The entities behind them offer Uzbek citizens the possibility to buy, sell or exchange cryptographic assets without having an office in the country. They are generally registered in other jurisdictions and their servers are located abroad, but at the same time they collect personal information from residents of the Central Asian Republic, the agency said in a notice posted on its website.

Half a dozen cryptocurrency exchange sites aimed at residents of Uzbekistan have been blacklisted: webmoneytashkent.com, wmztashkent.com, wm-torg.com, uzwmz.com, blockchainuz.com, and bitcointashkent .com. Similar services are also offered through Telegram bots and groups. Their providers, the regulator noted, often remain completely anonymous and can remove a channel quickly.

Authorities stressed that this type of platform does not assume legal responsibility for cryptographic transactions between various parties and cannot guarantee their legitimacy. Furthermore, they cannot guarantee the proper storage of personal data or the preservation of confidentiality. The ad says:

The Agency urges citizens to be as vigilant as possible, to be cautious and not to use the services of these platforms, in particular in order not to be victims of fraud.

Uzbekistan legalized trading in cryptocurrencies in 2018, but in December 2019, Tashkent authorities banned residents from buying cryptocurrencies while selling them. The National Project Management Agency has now reminded the public that, in accordance with the Presidential Decree “On Measures for the Development of the Digital Economy in the Republic of Uzbekistan” and the country’s law “on licensing and notification procedures”, the establishment of Cryptocurrency exchanges are subject to licensing.

The government tried to encourage some encryption activity. In January 2020, Tashkent unveiled a plan to establish a national mining pool and the initiative was presented as a priority. The state also said it will establish a licensed cryptocurrency exchange where miners can sell their coins and has promised to create a blockchain voucher, as well as introduce tax breaks for cryptocurrencies. Uznex, a regulated trading platform operated by the South Korean entity Kobea Group, was launched at the end of the month.

However, in September of this year, a senior central bank official reportedly said that cryptocurrencies such as bitcoin would never be recognized as legal tender. Speaking to local media, the vice president of the Central Bank of the Republic of Uzbekistan (CBU), Behzod Hamraev, recalled that, unlike cryptocurrencies, the national fiat currency, the sum, is backed by bank assets. He also expressed his opinion that bitcoin will never equal “world currencies” like the dollar, euro, yen and ruble.