Heading into the final week of March, and If you haven’t heard about Binance Coin and the recent popularity around the ALT-coin, then you will now! In the past 24 hours Binance Coin has climbed by more than 14% after the exchange announced a new set of rules for the token sales that take place on Binance’s Launchpad. The new rules meant that there would be an increase in demand for Binance Coin to participate in future token launches (it will no longer be set out as first come, first serve.) It will now work as a lottery, whereby the number of tickets one can claim depends on the amount of BNB one holds over a 20-day period leading up to the lottery. This is a clever way of Binance getting their customers to trade on their platform with their tokens and keep them so that they have a chance of getting in on the next token sale.
Over in Vietnam work is going on to bring the country’s first fully authorized Crypto exchange, both Linh Thanh Group and KRONN Ventures AG have signed a memorandum of understanding for both the production of cryptocurrency and opening of the exchange. This will be a huge step forward for the cryptocurrency industry in Vietnam and in general as more countries look to adopt and develop the technology set around the cryptocurrency market.
In more exciting news for Cryptocurrency adoption, Japans Yahoo!-Backed Cryptocurrency exchange is also set for launch. The exchange Taotao (also known before as BitARG) will start trading a limited range of cryptocurrencies to start this may. The company which is 40% owned by a subsidiary of Yahoo! Japan, will allow customers to trade the top main crypto’s along with margin positions available. With the news earlier this month about new regulations gaining approval especially relating to crypto margin trading, this move marks the internet giant’s first venture into the cryptocurrency exchange world.
Have a great week!
Past Week Talking Points:
• BitMEX CEO Arthur Hayes Says Bitcoin Will Test $10,000 in 2019
• Western Union Partners With Stellar Collaborator Thunes for Mobile Wallet Transfers
• “Blockchain is the tech. Bitcoin is merely the first mainstream manifestation of its potential.” Marc Kenigsberg, the founder of BitcoinChaser.com
• Bloomberg, NASDAQ And Thomson Reuters To Integrate CMC Data
• Four major trading products will use CoinMarketCap’s data feeds.
BTC Price: $4,026
Last 7 Days: 0.44% 1month: -0.13% 12months: -47.78%
Bitcoin (BTC) capped at $4,057 on Thursday, March 21, and has been trading below the $4,000 handle ever since. Indications are that the market lacks momentum currently, as shown by all of the recent attempts to take the price above the critical resistance level, and having failed to transform into a significant recovery. There is an upward-looking RSI on intraday charts, which gives us the chance to see the price attempt to move higher with a potential testing of the above-mentioned $4,000 hurdle. However we will need a strong push to take the price above the tested barrier strengthened by a host of intraday SMA levels located on approach.
18th March: $9,646,954,186 (BTC Price of $4,032)
25th March: $9,083,345,510 (BTC Price of $4,025)
5% decrease in trading volume in the last 7 days
Last 7 Days Big Market Movers:
Coni CONI $0.026 284%
CyberVein CVT $0.05 242%
Karatgold Coin KBC $0.096 213%
ETH Price: $137.10
Last 7 Days: -1.20% 1month: -9.10% 12months: -70.81%
ETH price has steadily declined since hitting the $144 level, down to below the $140 level. Later, it found support near the $135 level, but bulls could not hold it there and with a later push it broke to the downside, trading close to $132. We can now see it trading in a channel between $135 and $139 where we expect it to remain, although the pair is likely to accelerate higher once there is a proper break above $140 once again.
Market Cap. Dominance:
Other ALT-Coins: 29.91%
This newsletter is not intended and should not be construed as an offer, solicitation or recommendation to buy or sell any specific investments or participate in any investment (or other) strategy.