Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: President Bukele states El Salvador will not sell its bitcoin, Bitcoin ETFs land in Brazil and Peru, and Argentine President Javier Milei aims to criminalize central bank money issuance. El Salvador Won’t Sell […] Original
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. The crypto world has opened up the financial markets to the masses, giving individuals the world over a chance to participate in investment opportunities previously restricted to professional and institutional investors. The result is a level playing field giving everyone the same chance to invest in cryptocurrencies, especially when it comes to presale opportunities that could generate eye-watering gains. One of those opportunities in 2024 is DeeStream, a platform…
“Over-the-counter (OTC) trading desks are dealing with large institutional clients, and according to their aggregate inventory data, balances have decreased from nearly 10,000 Bitcoins in Q2 2023 to less than 2,000. This shows that institutions such as the Bitcoin ETF issuers, through their market makers, will have to purchase Bitcoins directly from exchanges. The supply/demand imbalance is 1:10 (daily mined vs. daily ETF demand),” Thielen noted. Source
In an insider trading case involving Coinbase’s former product manager Ishan Wahi, his brother Nikhil Wahi and their friend Sameer Ramani, a U.S. court ruled on March 1, 2023, that the trading of certain crypto assets on a secondary market, which Coinbase is, are securities transactions. Source
The Indonesian Finance Ministry has been called upon to assess the implementation of cryptocurrency taxes by the nation’s Commodity Futures Trading Supervisory Agency. In the past few months, Indonesia’s revenue from crypto-based transactions has been surpassing that generated from fintech businesses. Crypto Industry Generates More Revenue than Fintech Companies Indonesia’s Commodity Futures Trading Supervisory Agency […] Source CryptoX Portal
Polkadot (DOT) is gaining pace above the $8.80 resistance against the US Dollar. The price could extend its rally once it settles above the $10 barrier. DOT is gaining pace above the $8.50 and $8.80 levels against the US Dollar. The price is trading above the $9.00 zone and the 100 simple moving average (4 hours). There is a key bullish trend line forming with support at $9.20 on the 4-hour chart of the DOT/USD pair (data source from Kraken). The pair could continue to rise unless the bears are…
Ethereum price is consolidating gains above $3,400. ETH is showing positive signs and might soon aim for a move above the $3,500 resistance zone. Ethereum is holding gains and consolidating below the $3,500 resistance zone. The price is trading above $3,400 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support at $3,420 on the hourly chart of ETH/USD (data feed via Kraken). The pair seems to be setting up for a move toward the $3,650 and $3,800 levels. Ethereum Price Remains Supported Ethereum…
Montana introduced an amicus curiae in the case of the SEC vs. Kraken, a US-based crypto exchange, criticizing the “regulatory power grab” of the institution. Montana, supported by seven other states, affirms that crypto assets are not automatically securities and that the SEC’s expansive concept of “investment contract” might preempt state legislation. Montana and Seven […] Source CryptoX Portal
Bitcoin price is gaining momentum above the $62,000 resistance. BTC is signaling an upside break and might surge toward the $65,000 resistance. Bitcoin price is moving higher from the $61,200 support zone. The price is trading above $62,500 and the 100 hourly Simple moving average. There was a break above a key bearish trend line with resistance at $62,300 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could accelerate higher toward the $65,000 resistance or even $65,730. Bitcoin Price Regains Strength Bitcoin price remained…
Exchange-traded funds (ETFs) have emerged as a significant topic, particularly concerning their potential to fuel the Bitcoin (BTC) price to surpass its previous all-time high (ATH) of nearly $70,000. Furthermore, BTC proponents are optimistic that the upcoming halving event scheduled for April 2024 will provide a further boost to the world’s flagship cryptocurrency. Bitcoin’s bullish momentum Bitcoin (BTC) hit its highest price since 2021 and neared its record peak of $69,000 achieved in November 2021, before undergoing a significant correction. The price remains comfortably above the $62,000 price region at…