CRYPTO NEWS: Latest Bitcoin News, Ethereum News, 1inch News, Ripple News
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Bitcoin consolidates, here’s why BTC could rise above $64,000
The bitcoin price has begun a downward correction from the $54,900 zone against the U.S. dollar.
Bitcoin traded to a new all-time high of $64,892 before beginning a downward correction. BTC corrected below support levels of $64,000 and $63,500.
1inch announces rebranding to 1inch Network, laying the foundation for expansion.
1inch team unveils 1inch Network ecosystem
The developers of liquidity aggregator from decentralized exchanges 1inch have unveiled an ecosystem for safe and efficient transactions. According to the developers, 1inch Network includes 1inch Aggregation Protocol and 1inch Liquidity Protocol. The 1inch Network is essentially the perfect toolkit of DeFi tools, empowering every DeFi user – whether you’re a novice or an experienced player – to get the most out of the decentralized exchange space.
The 1-inch Liquidity Protocol is an automated market maker that protects users from attacks at a glance and offers liquidity providers investment efficiency. The 1-inch was recently listed on coinbase.com. Since then, the price of the 1-inch coin has risen considerably and has reached its face value of $6.67.
The 1inch Foundation encourages contributions through grants and other capital investment mechanisms.
This month, the 1inch team plans to introduce a new protocol and another new product atop the 1inch Network.
1inch announces rebranding
Ethereum fixes rally, but 100 SMAs could trigger new rise
Ethereum has risen above the $2,500 level against the U.S. dollar.
Recently, as in the case of bitcoin, there was a correction down below the $2,500 level. The bears managed to push the price below the support level of 2480 dollars. The price even broke through the 50% Fibonacci retracement level of the upward wave from the swing low of $2406 to the high of $2548.
European hedge fund plans to buy $84 million worth of cryptocurrency
Brevan Howard, a European hedge fund asset management firm, plans to invest in cryptocurrencies.
Asset management firm Brevan Howard plans to invest 1.5% of its $5.6 billion hedge fund in cryptocurrencies, which means the firm will invest $84000000 in crypto assets.
Coal mine accidents in China could be responsible for bitcoin’s hash rate drop
Recent security incidents at several coal mines in China appear to have affected bitcoin hashing rates.
According to Chinese state media Xinhua, three accidents occurred in the past two weeks at coal mines in China’s Shanxi, Guizhou, and Xinjiang provinces due to gas explosions and flooding.
Novatti uses Ripple to boost remittances from Australia to Southeast Asia
Ripple has entered into another partnership, this time with international payments firm Novatti.
Together with Ripple, Novatti will support money transfer services from Australia to Southeast Asia using RippleNet’s on-demand liquidity service, which uses XRP for instant cross-border payments.
Turkey bans the use of cryptocurrency for payments
Cryptocurrency payments for goods and services will be banned in Turkey by the end of April.
The Central Bank of the Republic of Turkey has banned the use of cryptocurrencies for payments, according to Resmi Gazette, the official newspaper of the Turkish government. The ban will go into effect on April 30.
The report said payment service providers are also banned from incorporating digital assets into their business models “directly or indirectly.”
Coinbase is in the top 10 on the Apple App Store in the U.S. for the first time since January
As of April 15, Coinbase ranked ninth among the most downloaded apps on the Apple App Store in the United States.
The Coinbase app entered the top 10 a day after the company went public on Nasdaq through a direct listing. According to market data, the cryptocurrency exchange closed the April 15 trading session at $322.75 after opening at $348.90.
Long-term bitcoin holders start accumulating bitcoins for the first time since $12,000: Glassnode
Glassnode’s graphic shows that long-time whales and miners have started hoarding bitcoins instead of selling them for the first time since mid-autumn last year.
A Twitter user named “Documenting Bitcoin” shared a Glassnode chart that shows that longtime bitcoin holders’ addresses began accumulating more bitcoins for the first time since October-November 2020, when BTC was worth about $11,500. and about $12,000.