Markets

Bitcoin price started a fresh increase from the $55,000 support zone against the US Dollar. The price is now trading above the $57,000 support and the 55 simple moving average (4-hours). There was a break above a major bearish trend line with resistance near $56,000 on the 4-hours chart of the BTC/USD pair (data feed from Coinbase). The pair is likely to continue higher towards $60,000 and $61,500 in the near term. Bitcoin price is showing positive signs above $57,000...

Speaking at a City and Financial Conference today, John Glen said authorities need to regulate stablecoins due to the threat it poses should a major firm dominate the sector.  “There is the potential for some firms to swiftly achieve dominance and crowd out other players due to their ability to scale and plug into existing online services,” the financial services minister was quoted as saying.  Regulating the Wider Crypto Market Not Pressing Despite calls from financial...

Do you live in America and you fancy purchasing a Tesla? If so, you can now buy the car utilizing bitcoin, the world’s number one digital currency by market cap. The asset is accepted as a form of payment thanks to the efforts of Elon Musk, who has become a serious bitcoin bull over the past few months. Elon Musk Permits Bitcoin Payments for Tesla Cars The move is primarily an effort for the company to get its fingers on a lot more crypto. Last February, the electric...

The latest report by on-chain analysis provider Glassnode has unraveled more details on Bitcoin spending habits that could suggest that market sentiment is still bullish. Glassnode observed that held coins are beginning to mature, and continued outflows from exchanges demonstrate accumulation is not slowing down. #Bitcoin held above $50k last week as early signs of coin maturation showed up on-chain. This week we analyse– Ageing of coins bought in this bull– Spending...

DeFi total locked value has hit a record high, reaching nearly $80 billion. Though Ethereum-based protocols continue to lead the market, notable performance has been shown by their main rival – Binance Smart Chain.According to data from DeFi Llama, the total amount locked in DeFi is at a record $79 billion. This amount is well above the total market cap of nearly all cryptocurrencies with the exception of the top two digital assets. The Ethereum network still holds roughly half of this. Defi...

The banking sector came under severe pressure as US-based Archegos Capital had to liquidate $20 billion worth of stocks owing to some of the over-leveraged positions. On Monday, March 29, the Dow Jones Industrial Average (INDEXDJX: .DJI) ended the trading day 100 points higher. Interestingly, Dow Jones (DJIA) changed its trading movement after registering 160 points loss earlier that day.The overall stock market was under pressure earlier on Monday amid the downdraft from Friday’s margin...

Jacky Lee, the Chief Executive Officer of Tranglo, said that the partnership with Ripple Labs will go a long way to ensure that accessible and equitable financial services are delivered. Ripple Labs is still making active development across its services with the latest report mentioning another large move in the Asian market. According to the announcement, Ripple Labs has acquired a 40% stake in Tranglo Sdn. Bhd., one of the biggest cross-border payment services in Asia.Tranglo specializes in...

ADA price struggled to clear the $1.285 resistance and corrected lower against the US Dollar. The price is still above the $1.160 support and the 55 simple moving average (4-hours). There is a key bearish trend line forming with resistance near $1.200 on the 4-hours chart (data feed via Bitfinex). The price could either rally above $1.200 or it might break $1.160 for a fresh decline. Cardano price is trading near a key juncture below $1.200 against the US Dollar, while...

Ethereum price started a fresh increase above the $1,725 resistance against the US Dollar. ETH price is currently trading well above $1,700 and the 55 simple moving average (4-hours). There was a break above a major bearish trend line with resistance near $1,705 on the 4-hours chart (data feed from Coinbase). The pair could dip in the short-term, but the bulls are likely to remain active near $1,725. Ethereum price is now approaching the $1,850 resistance against the US...

Silvergate Capital Corporation is joining hands with Coinbase Custody – a division of the popular American cryptocurrency trading platform – to provide crypto loan services to its growing list of eligible customers. Coinbase Custody Is Paired with SEN Leverage Coinbase will largely be tasked with overseeing capital through Silvergate’s division SEN Leverage, which provides U.S. dollar loans that are “collateralized” by bitcoin. In other words, while the loans are...