Market
Germany Welcomes New RWA Platform
BeInCrypto’s comprehensive Europe Crypto Roundup covers the latest news and trends shaping the continent’s crypto landscape. With reporters across key markets like Germany, France, and the UK, we provide in-depth insights into evolving regulatory environment, adoption rates, major industry events, and market movements.
This week’s roundup covers the launch of a new tokenized real estate platform in Germany, Bitpanda’s partnership with Finland’s largest crypto broker, the arrest of Holograph hackers, and more.
New Platform for Tokenized Real Estate Launches in Germany
A new platform for tokenized real estate has launched in Germany, bringing the analogue and digital investment worlds closer together. This initiative is led by MyHouse AG, a provider of real estate investments for private and institutional investors, alongside Berlin-based Web3 company Tokenforge.
According to the announcement, the platform’s initial rollout will include assets from Degag Deutsche Grundbesitz AG. The follow-up phase will introduce digital securities from MyHouse AG. The companies describe this as a “significant step in democratizing and digitalizing investments in the real estate sector.”
“The processing of digital securities not only significantly increases management efficiency but also makes it easier for our investors to access these opportunities through tokenization. This approach allows investors to “invest small amounts in high-quality real estate and tangible asset projects, opening the market to a much wider group,” said Alexander Hupe, CEO of MyHouse AG.
Read more: How To Invest in Real-World Crypto Assets (RWA)?
The platform, regulated under Germany’s Electronic Securities Act (eWpG), will first focus on real estate in Germany. It plans to expand to other assets and international markets later.
Montenegro Arrests FutureNet Executive
Montenegrin police have arrested Roman Ziemian, co-founder of the alleged crypto fraud scheme FutureNet, who was living under a false identity in the capital city of Podgorica. The arrest, announced on August 19 by Montenegro’s Police Directorate, follows an international investigation involving South Korea and Poland. Both countries have issued warrants for Ziemian on charges of fraud, money laundering, and theft.
Authorities say Ziemian could face life imprisonment in South Korea for his role in the $21 million scheme. Upon his arrest, police seized devices and items suspected of being used in his criminal activities. Ziemian is now awaiting a hearing at Podgorica’s High Court to determine his extradition.
FutureNet, founded by Ziemian and Stephan Morgenstern in 2018, was promoted as a multilevel marketing business featuring FuturoCoin (FTO). In 2019, Poland’s Office of Competition and Consumer Protection (UOKIK) flagged FutureNet as a pyramid scheme, warning that it sold “participation packages” ranging from $10 to $10,000, with promised returns for recruiting new participants.
Read more: 15 Most Common Crypto Scams To Look Out For
South Korean authorities began investigating the scheme in 2020 after 950 victims reported losses totaling millions of dollars. Ziemian’s arrest mirrors that of co-founder Stephan Morgenstern, whom authorities detained in Albania in August 2023. Both men face potential life sentences in South Korea.
Finnish Crypto Broker to Offer Over 400 Digital Assets Through New Partnership
Coinmotion, Finland’s largest cryptocurrency provider, has partnered with Bitpanda Technology Solutions (BTS) to offer more than 400 virtual currencies to its users. Based in Jyväskylä, Coinmotion will soon deliver the most extensive crypto service package in the Nordic region.
BTS, a part of Austrian fintech company Bitpanda, enables businesses to integrate its cryptocurrency trading solutions. With this partnership, Coinmotion users will access all supported currencies through the Coinmotion app. Initially, 10 popular assets —including Solana, Tron, and Polkadot — will be available, with more added gradually over the year.
“Thanks to this partnership, Coinmotion can easily expand its offering and deliver the widest range of virtual currencies in the Nordics,” said Lukas Enzersdorfer-Konrad, CEO of BTS.
Read more: 12 Best Altcoin Exchanges for Crypto Trading in August 2024
A recent survey revealed that 300,000 Finns, or 7% of the adult population, own virtual currencies — a figure expected to triple within a decade. Coinmotion’s expanded offerings aim to attract both new and existing investors in a secure environment.
“Our customer base is growing as more Finns begin investing in virtual currencies. We believe virtual currencies will soon be as common as other asset classes,” said Antti-Jussi Suominen, CEO of Coinmotion.
The partnership will provide trading opportunities for over 25 million customers across Europe, reflecting the increasing demand for secure digital asset solutions.
Holograph Hackers Caught by French Police in Italy
After a two-month investigation, French police have arrested two suspects involved in hacking the Holograph crypto platform. Hackers compromised Holograph in June and fraudulently created a billion HLG tokens.
They managed to deploy an unverified smart contract on the Mantle network, enabling the creation and immediate sale of the excess tokens, which caused the market value to plummet. Holograph managed to freeze 200 million tokens across several exchanges, including Bybit, Gate, KuCoin, Bitget, and Backpack.
The investigation was relatively straightforward, as some stolen funds were traced to a Paris-based individual known as “Acc01ade,” who exchanged the stolen HLG tokens for USDT and ETH. The suspect had previously identified himself online as a “super shadowy coder” and had even listed his position as a developer for Holograph on LinkedIn since May 2021.
Read more: Crypto Scam Projects: How To Spot Fake Tokens
The investigation was conducted by the Office of Cybercrime Prevention (OFAC) in collaboration with the Brigade for the Suppression of Banditry (BRI), Europol, the Italian Anti-Mafia Investigation Directorate, and the Royal Cayman Islands Police Service (RCIPS). These agencies tracked down and apprehended the suspects in Italy. The individuals are now awaiting extradition to France, where they will face charges related to the crypto hacking case.
The total estimated value of the theft is $14.2 million. To restore balance, Holograph has since destroyed an equivalent number of tokens to return the supply to its original level.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
ETF issuer WisdomTree’s European division just announced a new ETP based on XRP. This product is currently available in four EU countries, which has led XRP’s price to jump slightly.
ETPs are a common issuer strategy to earn revenue without ETF approval, but Europe will not necessarily approve one even if the US does so.
WisdomTree’s XRP ETP
WisdomTree, one of the Bitcoin ETF issuers in the US, announced that its European branch is offering an exchange-traded product (ETP) based on XRP. This new product is currently available in Germany, Switzerland, France, and the Netherlands. A growing number of issuers have filed for an XRP ETF, but WisdomTree is taking a slightly different tack.
“The WisdomTree Physical XRP ETP offers a simple, secure, and low-cost way to gain exposure to XRP, one of the largest cryptocurrencies by market capitalization. Backed 100% by XRP, XRPW is the lowest-priced XRP ETP in Europe, providing direct spot price exposure,” the announcement claimed.
The possibility of an official XRP ETF is growing with the current bull market, and Ripple CEO Brad Garlinghouse considers it “inevitable.” Still, it hasn’t happened yet, and ETP offerings allow issuers to somewhat address customers’ requirements. BitWise, which has also filed for an XRP ETF in the US, recently acquired a European ETP issuer to enter the same market.
WisdomTree, however, is no stranger to this market strategy. In May this year, it won approval to offer ETPs based on Bitcoin and Ethereum to British investors.
The UK has not yet approved a full ETF for either of these assets, but WisdomTree still gained market access. Even a fraction of the XRP market could also prove lucrative; the asset’s value spiked today.
WisdomTree Europe’s strategy page does not describe any further actions upon full approval. Even if the US approves an XRP ETF under the SEC’s new leadership, that won’t necessarily benefit WisdomTree’s European branch. For now, these ETPs built on XRP will have to suffice for this market.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Ethereum price started a fresh increase above the $3,220 zone. ETH is rising and aiming for more gains above the $3,350 resistance.
- Ethereum started a fresh increase above the $3,220 and $3,300 levels.
- The price is trading above $3,250 and the 100-hourly Simple Moving Average.
- There is a short-term contracting triangle forming with resistance at $3,360 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could gain bullish momentum if it clears the $3,385 resistance zone.
Ethereum Price Regains Traction
Ethereum price remained supported above $3,000 and started a fresh increase like Bitcoin. ETH gained pace for a move above the $3,150 and $3,220 resistance levels.
The bulls pumped the price above the $3,300 level. It gained over 10% and traded as high as $3,387. It is now consolidating gains above the 23.6% Fib retracement level of the recent move from the $3,036 swing low to the $3,387 high.
Ethereum price is now trading above $3,220 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,350 level. There is also a short-term contracting triangle forming with resistance at $3,360 on the hourly chart of ETH/USD.
The first major resistance is near the $3,385 level. The main resistance is now forming near $3,420. A clear move above the $3,420 resistance might send the price toward the $3,550 resistance. An upside break above the $3,550 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,650 resistance zone or even $3,880.
Another Decline In ETH?
If Ethereum fails to clear the $3,350 resistance, it could start another decline. Initial support on the downside is near the $3,300 level. The first major support sits near the $3,250 zone.
A clear move below the $3,250 support might push the price toward $3,220 or the 50% Fib retracement level of the recent move from the $3,036 swing low to the $3,387 high. Any more losses might send the price toward the $3,150 support level in the near term. The next key support sits at $3,050.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now above the 50 zone.
Major Support Level – $3,250
Major Resistance Level – $3,385
Ethereum price started a fresh increase above the $3,220 zone. ETH is rising and aiming for more gains above the $3,350 resistance.
- Ethereum started a fresh increase above the $3,220 and $3,300 levels.
- The price is trading above $3,250 and the 100-hourly Simple Moving Average.
- There is a short-term contracting triangle forming with resistance at $3,360 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could gain bullish momentum if it clears the $3,385 resistance zone.
Ethereum Price Regains Traction
Ethereum price remained supported above $3,000 and started a fresh increase like Bitcoin. ETH gained pace for a move above the $3,150 and $3,220 resistance levels.
The bulls pumped the price above the $3,300 level. It gained over 10% and traded as high as $3,387. It is now consolidating gains above the 23.6% Fib retracement level of the recent move from the $3,036 swing low to the $3,387 high.
Ethereum price is now trading above $3,220 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,350 level. There is also a short-term contracting triangle forming with resistance at $3,360 on the hourly chart of ETH/USD.
The first major resistance is near the $3,385 level. The main resistance is now forming near $3,420. A clear move above the $3,420 resistance might send the price toward the $3,550 resistance. An upside break above the $3,550 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,650 resistance zone or even $3,880.
Another Decline In ETH?
If Ethereum fails to clear the $3,350 resistance, it could start another decline. Initial support on the downside is near the $3,300 level. The first major support sits near the $3,250 zone.
A clear move below the $3,250 support might push the price toward $3,220 or the 50% Fib retracement level of the recent move from the $3,036 swing low to the $3,387 high. Any more losses might send the price toward the $3,150 support level in the near term. The next key support sits at $3,050.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now above the 50 zone.
Major Support Level – $3,250
Major Resistance Level – $3,385
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