Decentral Block Post

Robinhood’s board of directors has approved a plan to buy back the $578 million stake in their company which was bought by former FTX CEO Sam Bankman-Fried and FTX co-founder Gary Wang last year.

Robinhood confirmed it got board approval to buy back the stake in its fourth quarter report, which was published on Feb. 8.

“Our Board authorized us to pursue purchasing most or all of our shares that Emergent Fidelity Technologies bought in May 2022," said Robinhood’s chief financial officer Jason Warnick, adding

“The proposed share purchase underscores the confidence the Board of Directors and management team have in our business.”

The FTX co-founders bought 55 million shares of Robinhood stock — worth $578 million at current prices — in May through Emergent Fidelity Technologies by taking out loans directly from FTX’s sister firm Alameda Research.

The United States Federal Reserve Chairman Jerome Powell said on Feb. 7 that the “disinflationary process, the process of getting inflation down,” has started but it is still in its very early stages.

He cautioned that strong data would be met with more rate hikes. Though the comments are mixed, they triggered buying in the S&P 500 and Bitcoin (BTC) on Feb. 7 as investors speculated that the Fed may soon end its rate hikes.

Bitcoin’s strong rally in January and signs of ebbing inflation seem to have turned around investor sentiment. CoinShares data on Jan. 30 shows that institutional investors pumped $117 million into digital investment products. That sent the total assets under management to $28 billion, a sharp 43% increase from its November 2022 low.

Although the sentiment seems to have turned around, bear markets rarely end without a retracement of the rise from the low. The price needs to form a higher low followed by a higher high to confirm a potential trend change.

What are the critical support levels on Bitcoin and altcoins that could arrest future declines? Let’s study the charts of the top-10 cryptocurrencies to find out.

A little-known Bitcoin (BTC) price metric has just given a new bull run signal — and it has never been wrong.

As noted on Feb. 8 by Caleb Franzen, senior market analyst at Cubic Analytics, the Williams %R oscillator has left its bottom zone for the first time since May 2022.

Analyst: Oscillator crossover is a “great sign”

Bitcoin gaining 40% in January and continuing to hold higher levels has produced breakout signals across various on-chain indicators.

Some analysts are cautious, opting to wait and see if the improved conditions last, but for Franzen, the data coming from the Williams %R oscillator is of particular interest.

Williams %R is a momentum oscillator that measures how near BTC/USD is to its recent highs or lows. Momentum oscillators are utilized to measure the strength of a price trend, and Bitcoin’s January performance has made it a prime test case.

The Graph (GRT) price slipped on Feb. 8 alongside a broader correction across the top crypto assets.

GRT price skyrockets with other data management tokens

GRT’s price plunged nearly 14.5% intraday to $0.18, showing signs of short-term upside exhaustion after rising over 200% earlier in the year. At its sessional high, the token was changing hands for $0.23 on Feb. 7, its highest level in nine months

Buying flocked to the GRT market amid a relatively stronger risk-on mood, led by the United States Federal Reserve’s slower interest rate hikes and a strong recovery witnessed in the Bitcoin (BTC) market, which typically influences altcoins into tailing the trend.

The GRT price rally also accompanied similar gains across data management platform tokens. This sector’s market capitalization doubled so far in 2023, with Ocean Protocol (OCEAN), Mask Network (MASK) and Band Protocol (BAND) recording over 200%, 100% and 60% gains, respectively.

Will The Graph’s price correction continue?

The impressive GRT price rally has left The Graph as technically overbought, according to its daily relative strength index (RSI) indicator.

The Graph (GRT) price slipped on Feb. 8 alongside a broader correction across the top crypto assets.

GRT price skyrockets with other data management tokens

GRT’s price plunged nearly 14.5% intraday to $0.18, showing signs of short-term upside exhaustion after rising over 200% earlier in the year. At its sessional high, the token was changing hands for $0.23 on Feb. 7, its highest level in nine months

Buying flocked to the GRT market amid a relatively stronger risk-on mood, led by the United States Federal Reserve’s slower interest rate hikes and a strong recovery witnessed in the Bitcoin (BTC) market, which typically influences altcoins into tailing the trend.

The GRT price rally also accompanied similar gains across data management platform tokens. This sector’s market capitalization doubled so far in 2023, with Ocean Protocol (OCEAN), Mask Network (MASK) and Band Protocol (BAND) recording over 200%, 100% and 60% gains, respectively.

Will The Graph’s price correction continue?

The impressive GRT price rally has left The Graph as technically overbought, according to its daily relative strength index (RSI) indicator.