Crypto Today: Bitcoin prone to bear attack underneath $6500
Here's what you need to know on Wednesday
Markets
BTC/USD is currently trading at $6221 (-3.65%), the price remains vulnerable underneath the barrier seen at $6500.
ETH/USD is currently trading at $130 (-2.45%), the bears are gradually regaining control again, with a bearish daily flag subject to being breached
XRP/USD is currently trading at $0.17 (-2.20%), upside will continue to be limited by the resistance at $0.18.
Among the 100 most important cryptocurrencies, the best of the day are NRG $2.16 (+10.30%), QNT $4.24 (+7.65%) ICX $0.231049 (+7.15%) The day's losers are BCN $0.000190 (-16.42%), WAVES $0.929843 (-9.55%), MOITA $0.14981 (-7.30%).
Chart of the day: XRP/USD daily chart (bearish flag at risk of breakout south)
Market
Things Labs, a firm that claims to be a specific competence center for internet of things (IoT) and blockchain technology, has developed a new permanode service for IOTA (MIOTA). The firm says its IOTA Permanode service comes with ‘industry-grade’ features and preserves the transaction information for longer periods, according to a blog post on April 1, 2020.
Ripple CEO Brad Garlinghouse will have to defend his position as a legitimate XRP seller. Per Bradley Sostack, a former XRP investor and the lead plaintiff in the case against Brad, Garlinghouse used unlawful techniques to sell XRP. Former XRP investor Bradley Sostack claims that Ripple CEO Brad Garlinghouse was selling the XRP tokens as unregistered securities. The class-action lawsuit is seeing the hearings again because the investor refiled it recently. It features a scheme that allowed Ripple to raise millions in pure profits thanks to retail investments. Per the court document filed on March 25, this is the sixth claim for relief. The plaintiff notes that the XRP token was named as top asset in promo campaigns.
Regulation
A federal judge has denied Telegram‘s request to issue its forthcoming gram tokens to non-U.S. investors. U.S. District Judge P. Kevin Castel, of the Southern District of New York, wrote on Wednesday that Telegram‘s claim it could issue its tokens to investors but ensure these tokens did not end up in U.S. investors’ hands was unconvincing. He rejected a request by the messaging platform to clarify his earlier preliminary injunction preventing any gram issuance.
Industry
Following the approval of the regulatory framework for cryptocurrencies by the South Korean government, one of the largest banks in the country is preparing to launch a range of crypto services. KB Kookmin Bank has applied for trademark registration, reportedly listing over 20 crypto related services on its application.
CTBC Bank in Hong Kong has cut a deal with San Francisco-based Aegis Custody to expand its digital financial asset business, launching bundle factoring, REITs and equity investment in special asset digitalization (security tokens) to tap into channels for cash flow and support diversification of the banking sector.
Binance Loans and is now offering interest discount to early borrowers.All users of the Binance ecosystem will be eligible to borrow on this platform against a host of cryptocurrencies, including Tether and BUSD.
Quote of the day
Money without masters. Rules without rulers. Freedom without fiat.
@Bitcoin
Author
Ken Chigbo
Independent Analyst
Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.
