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WFIS Awards 2023 – BitcoinWorld

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Jakarta, 8th November 2023: What started as an awards & gala evening for Indonesia’s financial services sector eventually turned out as the most glamorous event in the country. With the most enthralling 5-star location at the heart of the capital, WFIS Awards 2023 took place at The Ritz-Carlton Jakarta, Pacific Place on 25 October from 4 pm to 8 pm.

Part of the archipelago’s most popular FSI event, i.e., World Financial Innovation Series (WFIS), the awards show became instrumental in bringing the best minds from FSI to the limelight. Amidst a fierce competition that comprised participants from across the industry, the platform declared winners from 9 niche categories. Below are the details.

  • Digital Architect of the year – Edwin Aristiawan (Director – IT, BPJS Kesehatan)
  • GRC Advocate of the year – Samuel Mulyono (Chief Data Protection Officer (CDPO), Head of Cyber & Product Risk Assurance Group, NobuBank)
  • Data & Analytics Leader of the year – Billie Setiawan (Head – Data Management and Analytics Division, Bank Negara Indonesia)
  • Tech Innovator of the year – Ichwan Peryana (Co-Founder & Director, Pinjam Modal)
  • CMO of the year – Karin Zulkarnaen (Chief Customer & Marketing Officer, Prudential Indonesia)
  • Excellence in Retail Banking – Heriwan Gazali (Head of Retail Loan Business, Bank OCBC)
  • Women Influencer in FSI – Melisa Hendrawati (CFO, Super Bank)
  • Cyber Practitioner of the year – Wahyu Prasetyo (Head – IT & Cyber Risk Management, Bank Mega)
  • CX Innovator of the year – Umi Kawiryani Tjiptoningsih (Head of Digital Strategy, Innovation and Customer Experience, Bank Syariah Indonesia)

Expressing his views, one of the award winners, Ichwan Peryana (Co-Founder & Director, Pinjam Modal) commented, “Receiving the ‘Tech Innovator of the Year’ award at the World Financial Innovation Series is a tremendous honor. This achievement is a reflection of our collective commitment at Pinjam Modal to drive innovation within the SME sector. It’s a testament to the hard work of our dedicated team and the support of our customers. We’re inspired to continue pushing the boundaries of what’s possible in financial technology.”

In a state of gratitude, another award winner, Samuel Mulyono (Chief Data Protection Officer (CDPO), Head of Cyber & Product Risk Assurance Group, NobuBank) expressed, “It has been an honour to be selected as the ‘GRC Advocate of The Year 2023’ at the WFIS Conference organized by Tradepass. This award is dedicated to My Lord, My Wife, My Family, and all of My Team! Without all of you, I could not have achieved this. I’m very grateful to be recognized on this platform. This award has further motivated me to always strive to deliver best innovation, especially in the GRC of Indonesian’ Digital Financial Services.”

The evening was inordinately glamorous right from the word go as it had Miss Earth Indonesia 2022, Karina Basrewan as the master of ceremonies. Even the entire stretch from the entrance to the main hall was elegantly decked with a stunning red carpet that made every participant look like a celebrity entering the awards show. If that wasn’t enough, the presence of paparazzi lights and pictures just ensured that the evening’s intensity never went down.

Talking about intensity, the awards show had a blistering start as All Star Dance Troop & Taiko Drums set the stage on fire with their electrifying performance. While the award winners were surely the reigning champions from their domains, their evaluation for the titles was done by none other than FSI’s leading thought leaders who formed the jury for the awards show. The jury members included Marsudi Wahyu Kisworo (Board of Governors, The National Research And Innovation Agency, Republic Of Indonesia); Richardus Eko Indrajit (Rector, Pradita University); Raine Renaldi (President, Indonesia Bankers Club); and ARIES SETIADI (Executive Director, Asosiasi Fintech Indonesia (AFTECH)).

Over the course of the glitzy evening, the platform had some mesmerizing champagne ladies to keep the participants in high spirits. Not just that, the participants also had the option to choose from a variety of sumptuous dishes and cocktails to relish the evening while unwinding with their peers and friends from the industry.

After the evening came to a halt, Organiser & CEO of Tradepass, Sudhir Ranjan Jena shared his exemplary vision behind hosting the awards show, “Members of such a dynamic financial ecosystem deserve a lot more praise and appreciation for their relentless efforts. Through WFIS Awards we ensure the best talents get in front of the entire industry where we can take a moment to realize their genius that goes far and beyond in shaping the future of Indonesia’s digital economy. It’s the least that we can do.”

 

For more information about the event, log on to:

https://indonesia.worldfis.com/

Media contact:                                        

Shrinkhal Sharad

PR & Communication Lead

[email protected]

+ (91) 80 6166 4401

Tradepass

About Tradepass

Providing access to the global emerging markets, Tradepass brings together people, products and solutions to power events for unparalleled business and networking opportunities. Being the most accredited event company, it helps organizations: enter new markets, grow sales pipeline, close prospects, raise capital and identify the right solution-providers.

As a deal facilitator, Tradepass is always determined about exposing the most agile liquid growth markets, to enable all-round scalability and growth.

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Binance Lists ChainGPT (CGPT): Unlocking a New Era for AI-Powered Blockchain Solutions

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Binance Lists ChainGPT (CGPT): Unlocking a New Era for AI-Powered Blockchain Solutions – BitcoinWorld
































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$88K Critical for Bitcoin Momentum

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Bitcoin’s price trajectory is at a pivotal juncture, with $88,000 emerging as a key level for sustaining market momentum, according to on-chain analytics firm Glassnode. Using the UTXO Realized Price Distribution (URPD) metric, Glassnode emphasized the significance of the Short-Term Holder (STH) cost basis, noting minimal trading volume below this threshold.

The $88,000 level serves as a critical psychological and technical support, and a decisive loss could pave the way for further downside. This article explores the importance of this metric and what it could mean for Bitcoin’s future price movement.


Understanding Bitcoin’s STH Cost Basis

The Short-Term Holder (STH) cost basis represents the average price at which recently acquired Bitcoin has been purchased. This metric is essential for analyzing:

  • Price Momentum: Indicates the health of recent buyer confidence.
  • Support Levels: Highlights crucial price points where short-term investors are likely to defend positions.

At $88,000, the STH cost basis underscores its significance as a level where short-term traders might capitulate if breached, potentially triggering a larger sell-off.


The Role of the URPD Metric

Glassnode’s UTXO Realized Price Distribution (URPD) metric maps the distribution of Bitcoin trading volumes across different price levels. Key insights from the current analysis include:

1. Minimal Volume Below $88K

  • Glassnode’s data reveals limited trading activity beneath $88,000, suggesting weak historical support in this range.

2. Vulnerability to Downside Pressure

  • A breakdown below $88,000 could lead to accelerated selling, as short-term holders exit positions to minimize losses.

Why $88K Is Critical for Bitcoin

1. Psychological Benchmark

  • Round numbers like $88,000 hold psychological significance for traders, influencing decision-making and market sentiment.

2. Technical Relevance

  • The STH cost basis aligns closely with support and resistance levels derived from historical price action, making it a reliable marker.

3. Momentum Indicator

  • Holding above $88,000 would demonstrate resilience, while a breach could signal a shift in momentum toward bearish conditions.

Potential Scenarios Based on $88K Level

1. Holding Above $88K

  • Sustaining this level could reaffirm Bitcoin’s bullish momentum, encouraging accumulation by both short-term and long-term holders.
  • Positive macroeconomic news or institutional support could bolster price stability.

2. Breaching $88K

  • A decisive loss of $88,000 might lead to panic selling, increasing volatility and pushing Bitcoin toward lower support levels.
  • Traders may target $85,000 or lower as the next critical support zone.

Market Sentiment and Influences

1. Institutional Activity

  • Institutional investors closely monitor key levels like $88,000, adjusting strategies based on market strength or weakness.

2. Broader Economic Factors

  • Macroeconomic elements, including interest rate policies and inflation data, continue to impact risk assets like Bitcoin.

3. Short-Term Trader Behavior

  • As the primary holders at this cost basis, short-term traders play a pivotal role in determining Bitcoin’s near-term price movements.

How Traders Can Respond

1. Monitor Key Levels

  • Keep a close watch on Bitcoin’s behavior around $88,000, as this level is crucial for gauging momentum.

2. Set Stop Losses and Alerts

  • Traders should establish clear stop-loss levels to minimize risk in case of a breakdown.

3. Consider Accumulation Opportunities

  • If Bitcoin holds above $88,000, it could present a buying opportunity for those confident in a bullish continuation.

FAQs

1. Why is $88,000 significant for Bitcoin?
The $88,000 level represents the Short-Term Holder (STH) cost basis, a critical indicator of price momentum and market confidence.

2. What happens if Bitcoin drops below $88,000?
A loss of this level could trigger selling pressure, as short-term holders exit positions, potentially leading to further downside.

3. What is the URPD metric?
The UTXO Realized Price Distribution (URPD) metric tracks Bitcoin’s trading volume at different price levels, highlighting key areas of support and resistance.

4. How does $88K influence market sentiment?
Maintaining this level reinforces confidence in the market’s bullish momentum, while losing it could shift sentiment toward bearish expectations.

5. What should traders do at this level?
Traders should monitor Bitcoin’s performance around $88,000, set stop-loss levels, and consider accumulation if the level holds.


Conclusion

The $88,000 level is more than just a price point; it’s a pivotal marker for Bitcoin’s momentum and market sentiment. Glassnode’s analysis underscores its significance as the Short-Term Holder cost basis, with the potential to dictate Bitcoin’s next move.

Whether Bitcoin sustains this critical level or breaches it will determine its trajectory in the coming weeks. For traders and investors, staying vigilant and adapting strategies to this key metric will be essential in navigating Bitcoin’s dynamic market.

To learn more about the innovative startups shaping the future of the crypto industry, explore our article on latest news, where we delve into the most promising ventures and their potential.

Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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Mantra Partners with UAE Real Estate Giant Damac to Tokenize $1B in Assets

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