Ethereum (ETH) has successfully defended its $ 250 support without giving in to market panic. As most coins fell significantly, Ethereum (ETH) held its ground at this strong demand zone. The price rebounded strongly off the $ 250 level and ha now formed three consecutive green candles on the ETH/USD daily chart above. The price has currently broken past the $ 300 mark and is now expected to rise further. It faces a near term resistance at the 50 EMA which has been a strong resistance since June.
Coinbase is now allowing accredited investors with deeper pockets the ability to utilize the Coinbase Index Fund, which offers exposure to every asset listed on the popular exchange.
The previously announced Coinbase Index Fund has officially opened for investments of $ 250,000 to $ 20M.
Reuben Bramanathan, Product Lead of Coinbase Asset Management, stated in an official announcement:
We’ve seen overwhelming interest from investors since we announced the fund earlier this year. At this stage, we have opened the fund to those who wish to invest $ 250,000 to $ 20M.
The government of South Korean appears to be on the verge of legalizing ICOs after the 2017 ban. According to the Korea Times, a coalition of lawmakers are looking to obtain a consensus in the National Assembly to pass a bill making ICOs legal in the country.
Details of the Proposed ICO Bill
Rep. Hong Eui-rak is leading the move to legalize ICOs in the country. He is a member of the South Korean ruling party, the Democratic Party of Korea. According to Rep. Hong, the proposed bill the result of the collaboration between his office and the Korea International Trade Association (KITA).