Day: August 23, 2023

XRP Bears Reverse All SEC Ruling Gains, What’s Next?

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Trading at around $0.51, XRP bears have fully reversed all gains posted on July 13, looking at price action in the daily chart. Although bulls are optimistic, it hasn’t been smooth sailing for these traders, and bears have been active, shaving gains and putting buyers on the backpedal. Related Reading: Optimism (OP) Continues Market Recovery As Network Whales Triple Holdings As it is, the path of least resistance, looking at the price action from 2023 peaks to date, is southwards.  XRP Bears Are Unyielding Presently, XRP is down 45% from…

Bitcoin Bulls Keep Pushing, Why BTC Could Recover Above This Resistance

Bitcoin price remained strong above the $25,500 zone. BTC could soon attempt a recovery wave above the $26,500 resistance zone in the near term. Bitcoin is still consolidating above the $25,500 support zone. The price is trading near $26,050 and the 100 hourly Simple moving average. There was a break above a connecting bearish trend line with resistance near $25,900 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a decent increase if there is a clear wave above the $26,500 resistance. Bitcoin…

Rumors Of Robinhood Listing XRP Take Center Stage On Crypto Twitter

The crypto community is currently buzzing with excitement and curiosity following rumors of Robinhood potentially listing XRP. These rumors come as the XRP price falls to pre-judgment levels, sparking hope that it could trigger a reversal. XRP Rumors Has Crypto Twitter In A Frenzy Rumor has it that an anonymous insider has confirmed the potential listing of XRP, the native token of Ripple, on Robinhood, an American financial trading platform, before the end of 2023. The rumor was started on August 22 by a crypto user on X (formerly Twitter)…

Binance.US taps MoonPay as banking alternative to regain USD ramps

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Two months after becoming a crypto-only platform, Binance.US has announced a new partnership with crypto payments firm MoonPay to allow users to buy the U.S. Dollar-pegged stablecoin Tether (USDT) to useon its platform.  In an Aug. 22 statement, the crypto exchange announced that USDT was being adopted as the new “base asset” for all transactions and its partnership with MoonPay allows a path for users to transact in USD. The new partnership comes in the wake of Binance.US suffering a breakdown with its banking partners which saw fiat deposits on the…

Is Binance Really Selling Bitcoin To Prop The Price Of BNB?

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Crypto exchange Binance has had a tough few months in terms of market news and pressure from regulatory bodies. Just a few days ago, Binance lost another payment processing partner after Checkout.com terminated its contract with the crypto exchange. And now, another rumor that appears to be spreading is that Binance is selling Bitcoin on the spot market to sustain the price of its native token, BNB. Is Binance Really Selling Its Bitcoin To Buy BNB? The rumor originated from a post made by @WhaleChart on X (formerly Twitter), claiming…

BlockFi argues FTX, Three Arrows Capital isn’t entitled to repayments

Bankrupt cryptocurrency lender BlockFi is trying to block attempts by the similarly bankrupt FTX and Three Arrows Capital (3AC) that aim to retrieve hundreds of millions of dollars to pay back their creditors. BlockFi claimed in an Aug. 21 filing to a New Jersey bankruptcy court that its own creditors shouldn’t be pushed to the back of the line because FTX’s creditors were harmed by the exchange allegedly misappropriating $5 billion BlockFi lent it. “FTX seeks to recover on over $5 billion of claims filed against the BlockFi estates at…

Bitcoin Chicken Game: Why Losing This Level Could Send BTC Back To $20,000

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The price of Bitcoin has stalled again around its current levels as an explosion in downside volatility broke critical support. The cryptocurrency is trapped between major players waiting and positioning for the next move; which side will prevail in this battle? As of this writing, Bitcoin trades at $26,000 with sideways movement in the last 24 hours. In the previous seven days, the cryptocurrency recorded a 12% correction which has severely impacted other assets in the sector, notably XRP and Binance Coin (BNB), which recorded losses north of 15% in…

Australian CBDC could be useful for payments, tokenization, says RBA

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Australia’s central bank has completed it’s pilot of a central bank digital currency (CBDC) exploring use cases for a potential e-AUD, finding its useful in four main areas including enabling complex payments and asset tokenization. The Reserve Bank of Australia (RBA) and the Digital Finance Cooperative Research Centre (DFCRC) unveiled their findings in an Aug. 23 report that also detailed a number of cases where a CBDC wasn’t exclusively required to achieve the stated use case. We’ve released a report with the Digital Finance CRC @DigiFinanceCRC today on the findings…

Rise In Bitcoin Outflows Suggests Institutional Investors May Be Losing Faith In The Asset

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This year has been marked by significant volatility across the crypto market, including for Bitcoin, which has seen both gains and losses over the course of the year. Just a month ago in the middle of July, Bitcoin crossed over $30,000 and many investors saw this as the start of another bull run.  However, things seem to have taken a turn, as the price of Bitcoin has plateaued since then. The asset is currently struggling to find a push in price, and it would seem this sentiment has flowed into…

Friend.tech denies data breach with API clarification

Friend.tech counters claims of a 100k user data breach, emphasizing data was accessed from their public API, not a security lapse. In a statement on X, Friend.tech clarified that the data was accessed through scraping their public API, not a security breach. The company likened the situation to someone claiming a hack after viewing a public Twitter feed. They emphasized that the accessed data was always publicly available via their API. This is just someone scraping our public API that shows the association between public wallet addresses and public Twitter…