No, you can’t buy Venezuela’s Petro on any overseas exchanges

No, you can’t buy Venezuela’s Petro on any overseas exchanges

September 22, 20200 Comments

A New York-based crypto exchange has listed a token with the same name as the Venezuelan state-issued asset, the Petro (PTR). In reality however, the two are entirely unconnected.

Exchanges such as BitMart have recently begun listing this similarly named token for trade on their platforms. However, the Venezuelan government has not yet announced any partnerships with exchanges abroad.

According to an article published by Cointelegraph Spanish, only seven local crypto exchanges offer PTR for trade in Venezuela. Two government platforms, named Plataforma Patria and PetroApp, additionally allow speculators to access the token. None of these exchanges are technically available to an international audience.

This isn’t the first time confusion has led to a spike in price for a non-affiliated asset. When Nicolas Maduro, president of Venezuela, launched the official token in February 2018, another unconnected token called “PetroDollar (XPD)” skyrocketed over 2,000% on an exchange called Cryptopia.

Other projects took advantage of the announcement around the same time as well, with some issuing tokens under the same name and promoting them through misleading advertisements.

Recently, the Bolivarian Council of Mayors in Venezuela signed a bill called the “National Tax Harmonization Agreement” for 305 municipalities in the country. This bill officially designated the Petro as a means of collecting payments for taxes and sanctions.

Source: cryptobrain.net

Author: by admin


Breakout coming will it be a move up?

Breakout coming will it be a move up?

The current situation:

1. Price action has been in a bullish symmetrical triangle with the measured move to be about 48.5 USD and the chance of breaking upwards to be 60%. However, do pay attention to the 4HR 200 moving average that is currently acting as resistance to the breakout, There are several moving averages that is under the current price action acting support and a few attempts to break the 4HR 200 have also been tried for the past couple candles, so if a breakout happens, it could break this moving average this time.

BTC dominance also has bearish divergence on the 6HR. If that plays out and BTC dominance drops, it will be another confirming signal for altcoins to bounce.

2. There is currently bearish divergence on the 6HR chart and a RSI reading of about 80 for the last high on the 4HR chart. So a strong breakout may be needed to make higher highs on the RSI to negate bearish divergence playing out, otherwise the breakout may be short lived.

*Let me know in the comment section if you agree or disagree, would love to hear your ideas too.
* These are purely my speculations and not financial advice. You should always do your own due diligence before trading or investing.

Source: bitcoin-crypto.se

Author: admin


Kraken Day by day Market Report for September 21 2020

Kraken Day by day Market Report for September 21 2020

  • The optimistic day for Orchid (OXT) made it the sixth most traded crypto, and the chief in week-over-week enhance in buying and selling quantity.
  • #####################. Buying and selling Quantity by Asset. ##########################################

    The figures beneath break down the buying and selling quantity of the most important, mid-size, and smallest belongings. Cryptos are in purple, fiats are in blue. For every asset, the chart incorporates the every day buying and selling quantity in USD, and the share of the overall buying and selling quantity. The chances for fiats and cryptos are handled individually, in order that they each add as much as 100%.

    #####################. Unfold %. ##########################################

    Unfold share is the width of the bid/ask unfold divided by the bid/ask midpoint. The values are generated by taking the median unfold share over every minute, then the common of the medians over the day.

    #########. Returns and Quantity ############################################

    ###########. Day by day Returns. #################################################

    ###########. Disclaimer #################################################

    The values generated on this report are from public market knowledge distributed from Kraken WebSockets api. The full volumes and returns are calculated over the reporting day utilizing UTC time.

    Supply hyperlink

    Source: thebitcoinexaminer.com

    Author: TBE


    No, you can’t buy Venezuela’s Petro on any overseas exchanges


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