The regulator is throwing the book at Beaxy and people associated with it on charges of unregistered securities offering and failing to register in a number of capacities.
Decentral Block Post
Access real-time blockchain and cryptocurrency news updates from around the globe.
Price analysis 3/29: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, LTC
Bitcoin (BTC) is up about 71% in Q1 2023, which is the first positive quarter after four consecutive quarters of negative returns in 2023, according to data from Coinglass. This shows that the sentiment has turned positive and the bulls are trying to put a bottom in Bitcoin.
When the undercurrent is bullish, negative news results in shallow corrections. That is what happened after the United States Commodity Futures Trading Commission slapped a lawsuit against Binance and its CEO Changpeng Zhao for trading violations. This news pulled the markets marginally lower but did not start a strong down move.
Daily cryptocurrency market performance. Source: Coin360Another thing that happens in a bullish environment is that cryptocurrencies move up without any specific catalyst. That happened on March 29 when Bitcoin and several major altcoins turned up sharply.
Could Bitcoin and select altcoins start the next leg of the uptrend and where is the rally likely to face resistance? Let’s study the charts of the top-10 cryptocurrencies to find out.
Bitcoin price analysis
In an uptrend, traders typically buy the pullbacks to the 20-day exponential moving average ($26,371). The long tails on the March 27 and 28 candlestick show just that.
How to mitigate the security risks associated with crypto payments
Learn how to mitigate security risks associated with crypto payments through methods such as hardware wallets and secure exchanges.
Bitcoin mining stocks underwhelm in March, but brighter days could be around the corner
In March mining stocks increased at a slower pace compared to BTC, amid macroeconomic uncertainty and increasing competition among Bitcoin miners.
Bitcoin mining stocks underwhelm in March, but brighter days could be around the corner
Bitcoin mining stocks had a dull performance in March, with small moves here and there that followed BTC's price movement. While it is encouraging to see that most stocks held onto their impressive January gains, Bitcoin's price action will be crucial for the short-to-medium-term performance of these stocks.
Additionally, the expansion of the public Bitcoin mining sector in the U.S. continues as American miners reported one of the biggest ASIC imports in January 2023. The delivery of new machines and an increase in the BTC price led to a surge in the network's hashrate to new all-time highs. Miners' incomes, however, are subdued by the rising network difficulty.
Mining stocks are in wait-and-see mode
Despite Bitcoin’s recent 18% rally, subdued performances of most mining stocks can be attributed to the uncertainty around the sustainability of Bitcoin’s price rally and the increasing competition in the mining industry. The Hashrate Index, a proxy for Bitcoin mining stocks, increased 10% in March from 1,929 to 2,141 points.
The median monthly gain in the top ten mining stocks is 0.30%, with an average of 5.21%. Riot Platforms and Cipher Mining led the monthly gains across the sector with a 28.64% and 24.34% rise. CleanSpark, Inc. and Bitfarms Ltd. were the worst performers, with negative 6.52% and 5.79% moves.
The performance of the top ten Bitcoin mining stocks as of March 28.The average Q1 2023 gains across the top ten Bitcoin mining stocks is 128%. These shares yielded the majority of their Q1 2023 gains in January. The following months, February and March, saw a muted performance from most mining company stocks.
US and South Korea request extradition of Terra co-founder Do Kwon
Do Kwon may have to serve time in Montenegro if convicted of charges related to forged identification documents before any extradition to the U.S. or South Korea is granted.
'Definitely not bullish' — 7% Bitcoin price gains fail to convince traders
Bitcoin simply hasn't dealt with the worst of resistance in a key trading range for everyone to flip bullish.
‘Definitely not bullish’ — 7% Bitcoin price gains fail to convince traders
Bitcoin (BTC) may have erased its Binance “FUD” losses, but popular traders are anything but bullish.
Despite gaining up to 7.5% versus its March 28 lows, BTC/USD is causing more suspicion than excitement with its return to local highs.
$30,000 stays breaker for bullish sentiment flip
In a move that echoes its reactions to previous news events, such as the Silicon Valley Bank demise, Bitcoin has recovered snap losses in record time.
On March 29, BTC price action hit $28,650 on Bitstamp — just $200 off new nine-month highs.
Unlike before, however, the mood among market participants is distinctly risk-off under current conditions.
XRP price tags 10-month high — Can a 35% pullback be avoided?
XRP (XRP) outperformed its top-ranking crypto rivals over the past 24 hours while reaching the highest price in 10 months.
XRP price tags 10-month high
On March 29, XRP's price surged by nearly 15% to $0.58, its highest level in ten months, outperforming Bitcoin (BTC) and Ether (ETH) in the past 24 hours that rose around 4.5% and 2.75%, respectively.
XRP/USD daily price chart. Source: TradingViewThe Commodity Futures Trading Commission (CFTC) referred to Bitcoin, Ether, and Litecoin (LTC) as "commodities" in its court filing against Binance. While the U.S. regulatory didn't name XRP, many assumed the token would be categorized as a commodity.
Related: Here’s why CFTC suing Binance is a bigger deal than an SEC enforcement
The lawsuit will likely conclude by the end of March, with legal experts believing Ripple has a chance to win. XRP price has rallied 45% month-to-date on similar hopes, including the March 29 price rally, supplemented further by investors' optimistic interpretation of the CFTC court filing.
XRP price tags 10-month high — Can a 35% pullback be avoided?
XRP (XRP) outperformed its top-ranking crypto rivals over the past 24 hours while reaching its highest price in 10 months.
XRP price tags 10-month high
On March 29, XRP’s price surged by nearly 15% to $0.58, its highest level in 10 months, outperforming Bitcoin (BTC) and Ether (ETH) in the past 24 hours, which rose around 4.5% and 2.75%, respectively.
XRP/USD daily price chart. Source: TradingViewThe Commodity Futures Trading Commission referred to Bitcoin, Ether and Litecoin (LTC) as “commodities” in its court filing against Binance. While the United States regulatory body didn’t name XRP, many assumed the token would be categorized as a commodity.
Related: Here’s why CFTC suing Binance is a bigger deal than an SEC enforcement
The SEC v. Ripple lawsuit will have likely concluded by the end of March, with legal experts believing Ripple can win. XRP’s price has rallied 45% month-to-date on similar hopes, including the March 29 price rally, supplemented further by investors’ optimistic interpretation of the CFTC court filing.
Crypto Wendy on trashing the SEC, sexism, and how underdogs can win: Hall of Flame
Crypto Wendy built an audience by being herself, defending others, trashing jerks and the SEC, and showing underdogs how to win at crypto.
Crypto Wendy on trashing the SEC, sexism, and how underdogs can win: Hall of Flame
Crypto Wendy built an audience by being herself, defending others, trashing jerks and the SEC, and showing underdogs how to win at crypto.
Crypto Wendy on trashing the SEC, sexism, and how underdogs can win: Hall of Flame
Name: Wendy O
Anonymous: No
Twitter followers: 330,000
Known for: crypto commentary, shitposting, trading analysis and community initiatives
Wendy is a former healthcare professional turned crypto trader and content creator, or what she describes as a “YouTube shock jock.”
While the switch from health to crypto came about due to a number of reasons, one big factor was that the long commutes and working hours were taking her away from spending more time with her number one asset: her daughter.
“For seven years, I worked in infectious disease, HIV/AIDS, and I had a three-hour round trip commute four times a week. I was far from my daughter, and I just wanted to be close to her,” she says, adding:
So then I bought some Bitcoin. And I was like, Oh, God, this is cool. Like, I didn’t really know, I just saw a number go up. And I was like, awesome. This is cool. This stands for liberty.”
Crypto Wendy on trashing the SEC, sexism, and how underdogs can win: Hall of Flame
Crypto Wendy built an audience by being herself, defending others, trashing jerks and the SEC, and showing underdogs how to win at crypto.
Crypto Wendy on trashing the SEC, sexism, and how underdogs can win: Hall of Flame
Crypto Wendy built an audience by being herself, defending others, trashing jerks and the SEC, and showing underdogs how to win at crypto.
Crypto Wendy on trashing the SEC, sexism, and how underdogs can win: Hall of Flame
Name: Wendy O
Anonymous: No
Twitter followers: 330,000
Known for: crypto commentary, shitposting, trading analysis and community initiatives
Wendy is a former healthcare professional turned crypto trader and content creator, or what she describes as a “YouTube shock jock.”
While the switch from health to crypto came about due to a number of reasons, one big factor was that the long commutes and working hours were taking her away from spending more time with her number one asset: her daughter.
“For seven years, I worked in infectious disease, HIV/AIDS, and I had a three-hour round trip commute four times a week. I was far from my daughter, and I just wanted to be close to her,” she says, adding:
So then I bought some Bitcoin. And I was like, Oh, God, this is cool. Like, I didn’t really know, I just saw a number go up. And I was like, awesome. This is cool. This stands for liberty.”
Crypto Wendy on trashing the SEC, sexism, and how underdogs can win: Hall of Flame
Name: Wendy O
Anonymous: No
Twitter followers: 330,000
Known for: crypto commentary, shitposting, trading analysis and community initiatives
Wendy is a former healthcare professional turned crypto trader and content creator, or what she describes as a “YouTube shock jock.”
While the switch from health to crypto came about due to a number of reasons, one big factor was that the long commutes and working hours were taking her away from spending more time with her number one asset: her daughter.
“For seven years, I worked in infectious disease, HIV/AIDS, and I had a three-hour round trip commute four times a week. I was far from my daughter, and I just wanted to be close to her,” she says, adding:
So then I bought some Bitcoin. And I was like, Oh, God, this is cool. Like, I didn’t really know, I just saw a number go up. And I was like, awesome. This is cool. This stands for liberty.”
How to financially prepare for a recession
To stay recession-proof, build an emergency fund, cut expenses, diversify investments, pay off debt and enhance your skills.
How to financially prepare for a recession
To stay recession-proof, build an emergency fund, cut expenses, diversify investments, pay off debt and enhance your skills.
Stablecoins are solution to crypto’s banking problem, exec says
Stablecoins are seen as a potential solution to crypto’s banking problem, but some of them are currently not immune to banking issues.