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Steady for bitcoin above $50K, why BTC could recover to $55K
The bitcoin price continued its decline and traded near $50,000 against the U.S. dollar.
After a break below $53,000, bitcoin continued its decline. BTC broke through support levels of $52,500 and $51,200 to move further into bearish territory.
The bears even targeted the $50,000 test. However, the price remained stable above $50,500. The low was formed around $50,400. The price is currently consolidating losses. It is trading well below $55,000 and the 100-hour simple moving average.
XRP soars to $0.6, leading crypto market recovery
Head down to $0.6 while looking for support at $0.4.
XRP is up nearly 12% to exchange hands at $0.53.
The recovery began after a week of losses from highs near $0.6 to support at $0.4. Price action above the 200 simple moving average and 100 SMA on the 4-hour chart confirmed to investors that the path of least resistance lies to the north.
Meanwhile, the moving average convergence has bullish momentum. It is also going to signal a buy signal for the decline, as speculation will cause the cross-border cryptocurrency to rise above $0.6.
Avanti’s digital asset bank is raising $37 million in Series A before launching.
The total amount raised since inception is $44 million.
Avanti Digital Asset Bank raised $37 million in a Series A round, according to a bank announcement. That brings the total amount raised since inception to $44 million.
New Zealand’s $350 million pension fund.
New Zealand’s KiwiSaver fund of fund management has been exposed to Bitcoin since October.
The New Zealand Pension Fund has invested five percent of its assets in Bitcoin, Stuff reports.
The KiwiSaver Growth Strategy, managed by the New Zealand fund management company, was worth $350 million as of December.
Institutional flows to crypto investment products Slow but overall increase in AUM
Total assets under management of cryptocurrency exchange-traded products increased to $58.7 billion.
According to CryptoCompare’s latest Digital Asset Management Survey, total assets under management for digital investment products have increased 8.76% since late February, but average weekly asset inflows across all major product providers fell 70.5% to $149.6 million.
China’s CBDC poised to take market share in digital payments WeChat and Alipay
Alipay and WeChat Pay are poised to face stiff competition from the central bank’s digital currency.
On Thursday, March 25, speaking during a panel discussion hosted by the Bank for International Settlements, Mu Changchun, director of the Digital Currency Research Institute of the People’s Bank of China, spoke briefly about CBDC’s developments.
Interestingly, Mu said that one of the key reasons PBoC is developing Digital Yuan is to provide basic support for WeChat Pay and Alipay. The two private players currently own the lion’s share of China’s mobile payments market, accounting for 98%.
Ripple wants to keep these documents out of the public eye.
Ripple has asked a judge to keep some of its confidential documents private.
Ripple has asked magistrate judge Sarah Netburn to keep under seal some of its documents attached to SEC letters.
Ripple executives want to prevent the SEC from disclosing their financial information.
The documents sought to be sealed reveal some confidential details about the process of creating and distributing XRP, internal emails between
Skrill is teaming up with Coinbase to provide crypto services in many U.S. states.
Digital wallet platform Paysafe can now offer users in 11 states the ability to buy and sell crypto.
Digital payment giant Paysafe is expanding its cryptocurrency presence with its foray into the U.S. market through its Skrill digital wallet platform. This new initiative will help Skrill users in eleven U.S. states buy and sell cryptocurrencies, as well as help expand Paysafe’s ecosystem of services.
THETA’s price breaks 30% a day after rescheduling payments at Maineti.
In a recent announcement, Theta said it would delay the launch of its core network until June. The price has been adjusted by 30%.
Theta Labs has been working consistently to release its TFUEL-resistant Elite Edge Nodes and burn on Theta 3.0 Mainnet. The company also intends to “incorporate some building blocks” for the NFT market on Mainnet.
With all of these tests and reviews aimed at ensuring the smooth operation of the network, Theta has decided to move the Mainnet launch date from April 21 to June 30.