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Tag: alts

  • Alts to open its first Long Island tailoring shop | Long Island Business News

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    THE BLUEPRINT:

    • to open first Long Island location in
    • The shop comes to 250 S. Service Road
    • Founded by brothers David and Jeremy Miller, chain now has 16 locations
    • Offers bridal, specialty, and services

     

    Alts, a growing chain of tailoring shops, will soon be opening its first Long Island location. 

    The chain has leased two spaces totaling about 1,200 square feet at 250 S. Service Road in Roslyn Heights, where it plans to open its first Long Island custom tailoring service in the next month or two. 

    Alts offers a variety of custom . / Courtesy of Alts

    Co-founded by brothers David and Jeremy Miller, Alts began in 2014 as Alteration Specialists of NY with a single tailor shop in Manhattan’s Union Square. Since then, the brothers have stitched together a growing chain, and there are now 16 Alts locations open in the New York metropolitan area, including in Connecticut and New Jersey. 

    Before launching Alteration Specialists of NY, David Miller, an investment banking analyst with Barclay’s partnered with his entrepreneurial brother Jeremy in 2013 to create Label, a custom clothing retailer. The brothers, who grew up in Great Neck, spun off the tailoring concept a year later, and it was rebranded as Alts in 2022. 

    Alts employs experienced professional tailors and partners with a variety of clothing brands and retailers, such as bridal specialist Jenny Yoo, bridal and formalwear brand Chloe, Maison Margiela, Soho House, Cake, Bronx and Banco, Bonobos and several others. Alts also provides tailoring services to individuals by appointment and accepts walk-ins. 

    Alts provides a significant menu of services, including standard alterations, bridal alterations and specialty alterations, as well as in-home and same day service. Prices range from $18 for a plain trouser hem to $200 and up for hemming a wedding gown. 

    The owners of Alts have wanted to expand to Long Island since the company’s inception. 

    “Opening in Roslyn is especially meaningful for me since I grew up in Great Neck and have family and close friends in Roslyn, so I know this community well,” Jeremy Miller told LIBN. “We’ve heard from so many former New York City clients who now call Long Island home that they want the same high-touch, modern tailoring experience they relied on in the city. With strong brand partners in the area and a clear need for elevated tailoring, Roslyn is the perfect next step for us. We’re excited to bring Alts to clients across Long Island.” 

    Robert Bakhchi of Parallel Realty represented Alts, while Jason Sobel and Daniel Glazer of RIPCO Real Estate represented the landlord, 250 RH LLC, in the Roslyn Heights lease transaction. 


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    David Winzelberg

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  • These Are The Altcoins In Buy Zone, Analytics Firm Reveals

    These Are The Altcoins In Buy Zone, Analytics Firm Reveals

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    The on-chain analytics firm Santiment has revealed the altcoins that are currently in the historical buy zone according to a fair value model.

    A Large Amount Of Altcoins Are Currently Near The Opportunity Zone

    In a new post on X, Santiment talked about what the various assets in the cryptocurrency sector are looking like right now based on their Market Value to Realized Value (MVRV) ratios. The MVRV ratio is an indicator that keeps track of the profit/loss status of the addresses on any given network.

    When the value of this indicator is greater than 1, it means the investors are carrying a net amount of profits right now. On the other hand, the metric under this threshold implies the dominance of losses in the market.

    Naturally, the MVRV ratio being exactly equal to 1 suggests the unrealized loss on the network is exactly equal to the unrealized profit, so the average holder could be considered just breaking even.

    Historically, corrections have become more probable when investor profits have ballooned up. Holders become more tempted to sell the larger their gains grow. Similarly, holders getting underwater has facilitated bottom formations, as sellers become exhausted during such conditions.

    Based on these facts, Santiment has developed an Opportunity and Danger Zone Model that uses the MVRV ratio’s divergence on different timeframes to estimate better whether an asset is currently providing a buying or selling window.

    Now, here is the chart shared by the analytics firm that shows where the different altcoins stand according to this model:

    Note that in this model, the zero mark takes the role of the neutral 1 level from the MVRV ratio. Also, the polarity is flipped here, with values under zero implying profit dominance and those above signifying loss.

    The graph shows that most of the altcoins are in the positive region right now, suggesting that their investors are underwater. Among these, Basic Attention Token (BAT), Chromia (CHR), and Highstreet (HIGH) particularly stand out as their MVRV divergence exceeds the 1 mark.

    Under this model, the region above 1 is called the “Opportunity Zone,” as assets have historically offered the most profitable opportunities while inside it.

    While most altcoins are at least slightly undervalued currently, a few, like Ethereum Name Service (ENS), MANTRA (OM), and Reserve Rights (RSR), are in or near the Danger Zone instead. The Danger Zone, which occurs under -1, is the counterpart to the Opportunity Zone, where coins become overvalued.

    Ethereum Price

    Ethereum, the largest among the altcoins, has faced a plunge of more than 4% in the last 24 hours, which has taken its price under the $3,300 level.

    Ethereum Altcoins Price Chart

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    Keshav Verma

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  • Santiment Reveals Best Altcoins Currently In “Opportunity Zone”

    Santiment Reveals Best Altcoins Currently In “Opportunity Zone”

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    The on-chain analytics firm Santiment has revealed the altcoins that have recently surged into the mid-term “opportunity zone.”

    These Altcoins May Be More Likely To See Rebounds

    In a new post on X, Santiment has discussed what the various altcoins in the market are looking like from the perspective of the MVRV. The “Market Value To Realized Value” (MVRV) refers to an indicator that keeps track of the ratio between the Bitcoin market cap and the realized cap.

    The realized cap here is a capitalization model for BTC that measures the total sum of capital that the investors have used to purchase their coins. As such, the MVRV tells us about how the value that the investors are holding right now (the market cap) compares against this initial investment.

    Historically, the more profits the investors have held (that is, the higher the market cap has been compared to the realized cap), the more likely tops have been to occur. This is naturally because investors become more likely to give in to the allure of profit-taking the higher their gains get.

    On the other hand, cryptocurrencies have been probable to see rebounds when holders’ returns have dropped into the negative territory. In these conditions, there aren’t many profit-takers left, so selling pressure begins to run out.

    Based on these facts, Santiment has come up with an “Opportunity & Danger Zone Model” that uses the MVRV’s divergence from the norm on various timeframes to determine if an asset is providing a potential window for selling or buying right now.

    Below is the chart shared by the on-chain analytics firm that reveals what this model is saying for altcoins around the sector:

    Looks like some of the coins are approaching the opportunity zone | Source: Santiment on X

    From the graph, it’s visible that a lot of coins are still inside the overbought territory, but several altcoins have managed to sneak into the mid-term opportunity zone following the recent market downturn led by Bitcoin’s plunge.

    “This zone gets breached when an asset’s 30-day, 90-day, and 365-day average wallet returns are combining to be in negative territory,” explains Santiment. It should be noted, though, that while mid-term returns are red for these coins, they are still not yet inside the buy zone proper.

    “In a zero sum game like crypto, projects with minimal returns compared to the rest of the sector have a higher probability of a more efficient rebound for those who are willing to #buythedip on projects traders are in the most pain on,” notes the analytics firm.

    According to Santiment, some of the best altcoin candidates who are inside the mid-term opportunity zone include Lido DAO (LDO), Synthetix (SNX), Storj (STORJ), and OMG Network (OMG).

    LDO Price

    Lido DAO has had a bad time recently as its price has gone down more than 31% over the past week. With these red returns, it’s no wonder that the coin is becoming underbought on the MVRV.

    Lido DAO Altcoin Price Chart

    The price of the altcoin appears to have plunged down in the last few days | Source: LDOUSD on TradingView

    Featured image from Shutterstock.com, Santiment.net, chart from TradingView.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Keshav Verma

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  • XRP, BNB Among Altcoins Losing Correlation With Bitcoin: Data

    XRP, BNB Among Altcoins Losing Correlation With Bitcoin: Data

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    Data shows altcoins have been losing correlation with Bitcoin recently, and among them, XRP and BNB have seen particularly pronounced decoupling.

    XRP & BNB Have Seen Largest Drops In 60-Day Correlation To Bitcoin

    As pointed out by an analyst in a post on X, BTC has recently seen a drop in correlation with the altcoins. The “correlation” here refers to an indicator that keeps track of how tied the prices of any two assets are right now.

    When the value of this metric is positive, it means that the given assets respond to moves in each other’s price by moving in the same direction. The closer the indicator’s value is to 100%, the stronger this correlation is.

    On the other hand, negative values imply that there is a negative correlation between the assets, as their prices are moving opposite to each other. In this case, the extreme is -100%, so the more negative the value, the more tight the relationship is.

    The 0% mark represents the point where no correlation exists between the prices, implying that movements in one have no bearing on how the other might perform.

    Now, here is a chart that shows what the 60-day correlation between Bitcoin’s daily log returns and various altcoins looks like right now, as well as how it compared a year back:

    Looks like XRP has seen the strongest decoupling out of these coins | Source: @CryptoBusy on X

    As displayed in the above graph, the 60-day correlation between Bitcoin and XRP appears to have significantly decreased in this period, as it has plunged from nearly 80% to almost 40%. This means that XRP’s price has been moving much more independently of BTC during the past 60 days.

    BNB (BNB), Avalanche (AVAX), and Solana (SOL) have also seen some decoupling from the original cryptocurrency. Still, these alts have seen the indicator decline by much less than XRP has observed.

    Cardano (ADA) and Dogecoin (DOGE) are the altcoins that have observed the least amount of change. However, in the case of the memecoin the correlation was lesser than the other assets to begin with, so even with the small decoupling, its correlation level is still matching that of BNB.

    Generally, correlation is something to watch for whenever an investor is trying to diversify their portfolio, as two assets with significant correlation wouldn’t provide much safety.

    Thus, as XRP is currently the cryptocurrency least correlated with Bitcoin on this list, it might be a better diversification option than coins like Ethereum (ETH) or Polygon (MATIC), which have the 60-day value of the indicator at relatively high levels still.

    XRP Price

    Just a few days back, XRP had revisited the territory above the $0.63 mark, but it wasn’t long before it slipped again and went under the $0.60 level. Since this low, though, the cryptocurrency has seen some recovery, as it has now neared $0.61 once again.

    XRP Price Chart

    XRP seems to have gone through a tumble recently | Source: XRPUSD on TradingView

    Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, Kaiko.com

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    Keshav Verma

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