Short term Bitcoin buyers transition to long term holders: Glassnode

Over the past week, long-term holders of Bitcoin increased their spending to a level that suggests de-risking from the market, but hodling remains the predominant investing strategy. Uncertain macroeconomic headwinds are likely to have precipitated the increase in the sell-offs last week by long-term holders and shaken some short-term holders out of their positions according to data from blockchain analytics firm Glassnode. Last week, coins older than six months accounted for 5% of total spending, which is a level not seen since last November. Short-term holders (STH) who have held…

SA’s Yoco acquires leading fintech, Web3 software development agency Nona Digital

South African payments company Yoco has acquired Cape Town-based fintech and Web3 software development agency Nona Digital to accelerate its roadmap by bringing a team of highly-specialised fintech product and technology professionals into the Yoco team.  Yoco builds tools and services to help small businesses accept card payments in-store and online, access loans, and manage their day to day activities. The startup has become the preferred payments partner for over 150,000 small businesses across South Africa, processing more than US$1 billion in card payments per year.  The company, which secured…

What Could Trigger A Sharp Increase

Ethereum is consolidating below $2,600 against the US Dollar. ETH price must clear $2,600 and $2,620 to start a major increase in the near term. Ethereum is still struggling to clear the $2,600 and $2,620 resistance levels. The price is now trading below $2,600 and the 100 hourly simple moving average. There is a major contracting triangle forming with resistance near $2,590 on the hourly chart of ETH/USD (data feed via Kraken). The pair must gain strength above $2,620 to stat a steady increase in the coming sessions. Ethereum Price…

Blockchain forensics firm finds millions in sanctioned crypto wallet

Blockchain security and forensics firm Elliptic has been working with authorities to expose crypto wallets affiliated with sanctioned individuals or organizations. The United Kingdom-based company has discovered a wallet with “significant crypto-asset holdings” in the millions of dollars that may be linked to sanctioned Russian officials and oligarchs.  Speaking to Bloomberg on March 14, Elliptic co-founder Tom Robinson said that crypto could be used for sanctions evasion. However, it has been widely reported and generally accepted now that Russia is very unlikely to pivot to crypto assets to circumvent them.…

Binance awarded Bahrain crypto service provider license

Crypto exchange Binance will provide fully regulated services to its first country in the Middle East thanks to a license granted by Bahrain’s central bank. Bahrain was able to issue the license through the Cooperation Council for the Arab States of the Gulf (GCC). The world’s largest exchange and CEO Changpeng Zhao announced the crypto-asset service provider license on March 14. #TeamBahrain.#Binance has been granted the first license for a global crypto-asset provider in The Cooperation Council for the Arab States of the Gulf (GCC) by the Central Bank of…

Stablecoin Economy Nears $200B, UST Supply Jumps Higher, USDN Spikes 43% in 30 Days – Altcoins Bitcoin News

During the last 12 months the stablecoin economy has grown massive and the current valuation today is only $13 billion away from tapping the $200 billion mark. This month, the two biggest gainers in terms of 30-day issuance include Terra’s UST jumping 29.9% and Neutrino Protocol’s USDN spiking 43.8%. Stablecoin Market Capitalization Continues to Swell, Tether Crosses $80 Billion Monthly statistics show the largest stablecoin in terms of market capitalization, tether (USDT), increased by 2% this month as the valuation crossed the $80 billion mark. USDT is massive compared to…

Bitcoin Attempts Fresh Increase, Why Upsides Remain Capped

Bitcoin attempted a fresh increase above $39,500 against the US Dollar. BTC is still facing a strong resistance near $39,800 and $40,000. Bitcoin spiked above $39,500, but it failed to clear the $40,000 resistance zone. The price is trading near $39,000 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $38,750 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must clear the $39,800 and $40,000 resistance levels to start a fresh increase. Bitcoin…

Ethereum ‘Merge’ edging closer with final Kiln testnet launch

The much-anticipated ‘Merge’ on the Ethereum network is another step closer to becoming a reality after the final public testnet Kiln launched to put it through its paces. On March 14, the Ethereum Foundation urged network stakeholders to run tests using Kiln “to ensure a smooth transition on existing public testnets.” “We strongly recommend that developers run through a full testing & deployment cycle on Kiln and report any issues with tools or dependencies to those projects’ maintainers.” Ethereum developer Tim Beiko confirmed that Kiln has gone live and will…

Motions denied for both SEC and Ripple as battle continues

Southern New York District Court Judge Analisa Torres issued two rulings Friday on motions filed in the Security and Exchange Commission (SEC) lawsuit against Ripple Labs. Ripple argued that it was not given fair notice by the agency that it would consider the token a security, thus denying the company due process. Judge Torres denied the SEC motion, filed in April, to dismiss this defense, and by doing so affirmed that the defense is viable in the suit — in other words, that the defense, if accepted, could be used…

How professional Ethereum traders place bullish ETH price bets while limiting losses

Being bullish on Ether (ETH) over the past four months did not pay off as its price dropped 44% from $4,600. The decentralized finance (DeFi) applications growth that fueled the rally faded away, partially due to network congestion and average transaction fees of $30 and higher. The cool-off period can also be attributed to excessive expectations as the fee burn mechanism implemented in August 2021 with the London hard fork. After drastically reducing the daily net issuance, investors jumped to the conclusion that Ether would become “ultrasound money.” The Ethereum…