Month: January 2024

Downside Risks for Bitcoin (BTC) Remains Despite Early Success of Spot ETFs, Observers Say

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BNB Price Signals Bullish Exhaustion, Are Dips Attractive In Short-term?

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BNB price is struggling to clear the $320 resistance zone. It might decline toward the $288 support zone before the bulls aim for another increase. BNB price is struggling to gain traction above the $320 resistance. The price is now trading near $310 and the 100 simple moving average (4 hours). There is a major declining channel or a bullish flag pattern forming with resistance near $316 on the 4-hour chart of the BNB/USD pair (data source from Binance). The pair might continue to move up if it stays above…

Frax Finance to Debut Its Ethereum Layer 2 in February: Founder

The new offering will add to Frax’s existing product suite, which comprises FRAX, a fully collateralized algorithmic stablecoin, a lending platform, an automated market maker, an inflation-linked stablecoin, FPI, and the liquid staking token frxETH. As of the time of writing, FRAX has a market cap of $647 million, the seventh-largest stablecoin in the world, per CoinGecko. Source

Ethereum Price Rejects $2,600, Can Bulls Save This Key Support?

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Ethereum price struggled to extend gains above $2,600 and $2,620. ETH trimmed gains and might struggle to stay above the $2,500 support zone. Ethereum attempted a fresh increase but failed to surpass $2,620. The price is trading below $2,550 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance near $2,540 on the hourly chart of ETH/USD (data feed via Kraken). The pair start another increase if the bulls protect the $2,500 and $2,470 support levels. Ethereum Price Revisits Support Ethereum price started a…

Tennessee Senate proposes bill to exclude CBDCs from state’s definition of money

A Tennessee Senator has introduced a new bill that seeks to decouple CBDCs from the state’s definition of money. Tennessee’s Senate introduced a new bill authored by Senator Frank Niceley that proposes to redefine the term “money” within the state’s Uniform Commercial Code (UCC). The idea is to explicitly exclude central bank digital currencies (CBDCs) from the state’s definition of money. JUST IN: 🇺🇸 A bill was filed in the Tennessee Senate to expressly exclude CBDC from the definition of money in the state. pic.twitter.com/2VzdQjFDuz — Bitcoin Magazine (@BitcoinMagazine) January…

Gemini Receives Digital Asset Service Provider Registration In France

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Cryptocurrency exchange Gemini, founded by the Winklevoss twins, has been granted crypto registration by the French markets watchdog Autorite des marches financiers (AMF).  According to a recent announcement made by the exchange, this approval allows Gemini to offer its services as a virtual asset services provider in France. The company plans to roll out its products to both retail and institutional clients in the coming weeks. Gemini Seizes Growth Opportunities In Europe As announced, Gemini customers in France will gain access to a wide range of cryptocurrencies for trading, as…

Bitcoin Price Faces Uphill Task, Risk of Additional Losses Below $42K Looms

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Bitcoin price is still struggling below the $43,250 resistance zone. BTC remains at risk of more downsides if it stays below $43,500 for a long time. Bitcoin price is still trading in a range from the $41,500 zone. The price is trading below $43,250 and the 100 hourly Simple moving average. There was a break below a key rising channel with support near $42,880 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is now at risk of more downsides below the $41,500 support zone.…

EU Provisionally Agrees Tougher Crypto Due Diligence Measures to Combat Money Laundering

“This agreement is part and parcel of the EU’s new anti-money laundering system. It will improve the way national systems against money laundering and terrorist financing are organized and work together. This will ensure that fraudsters, organized crime and terrorists will have no space left for legitimizing their proceeds through the financial system,” Belgian Minister of Finance, Vincent Van Peteghem, said in a press statement. Source

Crypto Exchanges Trading Volume Hit $10.3T in 2023, New Data Shows

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CoinGecko’s 2023 Annual Crypto Industry Report has been released. It covers crypto exchanges and their current state, Bitcoin’s +155.2% and Ethereum’s +90.5% growth, analyzing NFT trading volume throughout the year, and more. Among the report’s highlights is the comprehensive review of the crypto trading volume in 2023 through the performance of centralized crypto exchanges (CEX) and decentralized exchanges (DEX). Centralized Crypto Exchanges Dominated Crypto saw a $36.6 trillion trading volume in 2023, with a volume increase of +53.1% from Q3 ($6.7 trillion) to Q4 ($10.3 T). The Q4 increase marked…