Share: Polkadot price is up 8% after obtaining bullish momentum at $5.37, but the uptick seems unsustainable. Overhead pressure from the 100-day EMA at $6.09 could dissuade the rally. The bearish contention will be invalidated if the … [Continue reading]
USD/TRY: Relentless Lira depreciation trend in the background to persist – Commerzbank
Share: The Turkish Lira is deceptively stable on a day-by-day basis. But, the slow and steady depreciation trend very much persists in the background, Tatha Ghose, FX Analyst at Commerzbank, reports. Slow, creeping Lira depreciation takes its … [Continue reading]
Federal Reserve: Expect no rate hike in March – Goldman Sachs
Share: The US Dollar has come under renewed selling pressure in Asia this Monday after Goldman Sachs revised downward its expectations of the US Federal Reserve (Fed) rate hike outlook, in the face of the Silicon Valley Bank (SBV) fallout. Key … [Continue reading]
Regulators close Signature bank, announce plan to make depositors whole
Share: “New York state's Department of Financial Services said on Sunday it has taken possession of New York-based Signature Bank and appointed the U.S. Federal Deposit Insurance Corp as receiver, the second bank failure in a matter of days,” … [Continue reading]
Bitcoin price makes comeback above $20,000 after $422 million in BTC options were liquidated
Share: Bitcoin price had a brief stint below the $20,000 level and nearly $422 million in long and short positions was liquidated. BTC nosedived to a five-week low in response to the tumultuous events of the week, however whales continued … [Continue reading]
Why Charles Hoskinson believes algorithmic stablecoins are key to realizing Satoshi’s vision of Bitcoin
Share: Cardano founder Charles Hoskinson believes despite the uncertainty surrounding algorithmic stablecoins they may be key to Satoshi’s vision. In response to USDC depegging, Hoskinson argued that banks will let users down as long as they … [Continue reading]
Can the collapse of Silicon Valley Bank fuel the China coin narrative?
Share: China stock investors could suffer from the shock collapse of US lender Silicon Valley Bank Financial group according to a recent report by Reuters. China’s CSI300 Index dropped nearly 4% last week, while Hong Kong’s Hang Seng tumbled … [Continue reading]
How contagious is Circle’s USDC contagion: Will US Fed bail out crypto-friendly banks?
Share: Silicon Valley Bank’s collapse and Circle’s USDC stablecoin’s depeg have triggered a fast-spreading contagion in crypto. Ethereum is now being considered a security by US financial regulators and this has resulted in widespread FUD … [Continue reading]
Where does Vitalik Buterin’s allegiance lie: RAI or Circle’s stablecoin USDC?
Share: Vitalik Buterin’s wallet addresses converted 20,040 RAI to 56,746 USDC earlier today. Buterin has previously shared his optimism on Reflexer’s algorithmic stablecoin that is backed by Ethereum. It is uncertain whether Buterin’s … [Continue reading]
Can Bitcoin accumulation by sharks and whales catalyse BTC price recovery?
Share: Bitcoin sharks and whales, holding between 10 and 10,000 BTC have collectively accumulated $821.5 million worth of the asset. During the recent BTC price drop below $20,000, large wallet investors on Bitcoin network started to “buy the … [Continue reading]