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NEW YORK–(BUSINESS WIRE)–UPRETS has been working hard on the tokenization of The Oosten property in Williamsburg, Brooklyn. Funded by NYSE:XIN, UPRETS is a digital security issuance platform with a focus on transforming the global asset market. This luxury development project features 216 units and is Xinyuan Real Estate Co., Ltd’s first project in New York City. The project features 1, 2 and 3-bedroom units.

The Oosten condominium project was designed by Piet Boon, a renowned Dutch architect, and caters to all the needs of a prospective home-seeker through its variety of units. The project can be described as a blend of modern architecture and lush amenities to take luxury living in New York City to a new level.

Digital security offerings are slowly starting to take shape as the leading investment vehicle of the future. Digital securities aim to make working with various regulators and creating an ecosystem easier. Real estate for a long time has been viewed as a safe haven for the wealthy. This is about to change with the tokenization of real estate projects, such as the Oosten property which will open up the real estate market to new investors.

“The global asset market is ready for a revolution through tokenization. Many people wish to be a part of this market, but the barriers to entry have been a major concern. Liquidity issues and the presence of many intermediaries make the process of trading securities not only tiresome but also time-consuming,” said UPRETS Team.

The private assets market is known for being illiquid. The Security Token Academy notes that tokenizing these assets will make them liquid and also open up new opportunities. Global real estate assets have a valuation of about $230 trillion. Commercial properties are worth about $32 trillion, while residential real estate is valued at $180 trillion with agricultural activities constituting the remainder. Other securities that will benefit from tokenization include debt and equity which are also illiquid in the private markets.

“UPRETS intends to lead the rest in the real estate sector through this Oosten project. We want to open up real estate investments to everyone through blockchain technology. The future of blockchain is now. We have now moved from speculating what blockchain technology can do to actual usage.”

——UPRETS Team

The securities in issuance are shares of the real estate fund, which will, in turn, be represented by a token. These shares will be offered privately at the set subscription price to the various accredited investors. All accepted subscribers will then be admitted to this fund as token-holders or shareholders.

The secondary digital securities market is a concern of potential investors. There have been major strides in this area with the introduction of regulated exchanges, such as OpenFinance. Such exchanges charge a listing fee for digital securities and they must do thorough due diligence on the viability of the digital securities in question. UPRETS is going to work with a public market to list the shares that will be sold to various subscribers. The transfer of shares will initially be regulated by the Fund.

Even though tokenization of a real estate property makes it possible to have fractional ownership, it is not the only reason to tokenize an asset. The aim of UPRETS is not limited to The Oosten property, the company will tokenize other real estate globally in cities such as Dubai, London, and Singapore. Tokenization is to democratize the investing process for global investors. The approach will cut down on the number of intermediaries to involve and the fees associated with the investment process. Cutting down intermediaries makes it lucrative for a property owner to sell because the property will fetch a higher price when the token becomes liquid with fewer people to pay in the chain.

For more information, please visit uprets.io.

Contacts

Ran Wei

Email: [email protected]
Tel: +1 510-356-7692 (US)

Business Wire , 2019-11-12 09:47:26 ,

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NewsBlock © 2019 - 2020 All rights reserved.

NewsBlock © 2019 - 2020. All rights reserved.


While Bitcoin’s price seemingly moves without rhyme or reason — collapsing by dozens of percent and embarking on face-melting rallies on a whim — the cryptocurrency market is filled to the brim with fractals.

Related Reading: Analyst: Bitcoin Price Likely to Fall to Low-$8,000s as Chart Remains Weak

A brief aside: A fractal, in the context of technical analysis and financial markets anyway, is when an asset’s price action is seen during a different time. This form of analysis isn’t that popular, but it has proven to be somewhat valuable in analyzing Bitcoin.

One recent fractal popularized by a well-known cryptocurrency trader is implying that BTC is going to return to the low-$7,000s in the coming days.

Bitcoin Fractal Implies Retracement to Low-$7,000s

A well-known crypto trader going by “Tyler Durden” on Twitter recently posted the chart below, which shows that a Bitcoin price fractal may be playing out. The fractal has four phases: horizontal consolidation marked by one fakeout, a surge above the consolidation phase, a distribution, then a strong drop to fresh lows.

If the fractal plays out in full, BTC could reach the low-$7,000s again, potentially as low as $7,100. This would represent a 20-odd percent collapse from the current price point of $8,800.

It isn’t only a fractal that is hinting Bitcoin has the potential to visit its lows. As we reported on Saturday, Bloomberg believes that if the GTI Vera Convergence Divergence Indicator flips red, a downtrend could push the cryptocurrency back to $7,300.

Related Reading: Stephen Colbert Pokes Fun at Bitcoin in Monologue: Mainstream Gone Wrong?

Can Bulls Step In?

But again, many believe it is irrational to have such bearish interpretations of the cryptocurrency’s chart at the moment. As reported by NewsBTC earlier, Popular crypto trader Mayne recently noted that the “people waiting for $6,000” are irrational. He quipped that Bitcoin retracing and consolidating after its fourth-biggest bull move in history ($7,300 to $10,500, a 42% gain) is perfectly par for the course, but noted that it’s totally possible we can go lower from $8,800.

The medium-term technicals support this.

Trader and CoinTelegraph contributor FilbFilb found that by the end of November or start of December, the 50-week and 100-week moving averages will see a “golden cross,” which he claims is far more significant” for the Bitcoin market that other technical crosses.

Also, a Bitcoin price model created using Facebook Prophet machine learning found that the leading cryptocurrency is likely to end the year at just over $12,000. What’s notable about this model is that it called the price drop to $8,000 months in advance, and forecasted a ~$7,500 price bottom for BTC.

To put a cherry on the cryptocurrency cake, Crypto Thies observed that when Bitcoin bottomed at $7,300, it bounced decisively off the 0.618 Fibonacci Retracement of the move from $3,000 to $14,000, which correlates with the two-week volume-weighted moving average. He added that summer 2019’s consolidation was marked by Bitcoin flipping major resistances into support levels, implying that a bullish reversal and subsequent continuation is likely possible in the coming weeks.

Featured Image from Shutterstock


Nick Chong , 2019-11-10 12:00:38

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