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China’s WeChat social media giant integrates digital yuan into payment platform #china #wechat #yuan #bitcoin #Binance

China’s WeChat social media giant integrates digital yuan into payment platform

#china #wechat #yuan #bitcoin #Binance

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#Bitcoin hits $69K as #BlackRock boosts Wall Street's $BTC footprint. Bitcoin price continues above the November 2021 supply zone of $58,375–$65,518. The BTC ETF market has additional players because BlackRock permitted more participation. BTC's 60-day correlation with altcoins dropped to multi-year lows in Q1 2024 compared to 2023 and 2022. Bitcoin (BTC) broke $68,000 entering the weekend. Analysts expect a pullback before the next run north, so this directional bias may not last. According to sources, BlackRock is attracting more ETF participants. BlackRock boosts Wall Street's Bitcoin footprint. Bitcoin reached $68,756 on Friday before a pullback. The immediate reaction was horrible, coming on the same day as US unemployment figures. However, rumors that BlackRock, which provides the IBIT ETF, is adding players lifted sentiment. The IBIT BTC ETF now includes Goldman Sachs, Citadel, UBS, and Citigroup as permitted participants. Due to "supply shortages on exchanges," the largest banks are directly contacting Bitcoin miners to acquire Bitcoin, according to Hut8 Mining CEO Asher Genoot. Genesis sold $2.1 billion of its Grayscale Bitcoin ETF as banks approached miners. Coinbase said Bitcoin “dips are likely to be more aggressively bought” due to new investors wanting digital gold. This suggests a supply shock. In addition, Kaiko Research reports that Bitcoin price's 60-day correlation with altcoins fell to multi-year lows in the first quarter of 2024 compared to 2023 and 2022. Bitcoin price remains above the weekly supply zone of $58,375–$65,519. The 200-day Exponential Moving Average provides quick support. BTC might recapture its $73,777 top if bulls can push it above $69,000. The Awesome Oscillator (AO) and Moving Average Convergence Divergence (MACD) indicators are strong, supporting the bullish Relative Strength Index (RSI) above the 50 mean line However, if sellers play and pull Bitcoin price below the median of the supply zone around $61,947, the slump will continue. Bitcoin price might provide another purchasing chance at $60,000 or lower.
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Is $10 Possible for $XRP Given Ripple's New Stablecoin Announcement? There was no discernible uptick in the price of #XRP (XRP) after reports that Ripple Labs was planning to release a dollar-pegged stablecoin. Last seen at $0.587, XRP is the Ripple Labs-issued coin for the XRP Ledger, which debuted in 2012. As a result, it is down almost 7% for the week and more than 20% from its 2024 highs recorded in March. The move into the $150 billion USD stablecoin market is not an indication that Ripple is abandoning its plans to expand its XRP-powered on-demand liquidity offering, according to CEO Brad Garlinghouse. According to Garlinghouse, a Ripple stablecoin would be more of a supplementary offering. Regardless, the news doesn't seem to have fazed XRP investors too much. The fight between #Ripple and the SEC over whether or not XRP is a security remains the cryptocurrency's central focus. This year, momentum has leveled down after Ripple's few judicial victories in 2023, which gave XRP a temporary lift. For technical grounds and other longer-term considerations, however, price forecasts continue to be positive. Forecasting the Future Value of XRP: Is $10 Possible? A pennant structure may have emerged in the previous four years, according to a long-term analysis of the XRP price. A pennant structure may have emerged in the previous four years, according to a long-term analysis of the XRP price. If prices fall below $0.30 again, it may set off a decline that would bring us back to our 2022 lows. However, the likelihood of a price increase is higher in a favorable market scenario. The XRP price might swiftly retest its $2 high from 2021 if the pennant structure breaks north. That may result in four times the gain for XRP. Getting a token price of $10 in the midst of the present bull market is, while not impossible, quite unlikely. A 17x gain, bringing XRP's market value beyond $5.5 trillion, would be necessary to achieve that. Presently, the market valuation of Bitcoin is less than four times that amount.
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As social activity rises, would #Shiba Inu's price rise? Shiba Inu (SHIB), a meme coin, is seeing a boom in social engagement, proving its status as a top cryptocurrency. Increasing Shiba Inu Social Activity Shiba Inu's staff on X (previously Twitter) indicated that SHIB social engagement is booming. This indicates increased community and investor interest in the meme currency. The team says the SHIB community, known as SHIBArmy, is stronger than ever thanks to increased social activities. Thus, they asked the community to keep spreading the word and show the SHIBArmy's overwhelming might. In response to LunarCrush's bullish SHIB trend post, Shiba Inu's team post was made. Four bullish signs imply SHIB may rebound shortly, according to LunarCrush. Increased social engagement, price action, market volume, and a strong LunarCrush AltRankTM of 2 are examples. Shiba Inu is a popular meme currency with a dedicated fan following and community support. Amazingly, social interaction has kept the cryptocurrency ranked among the top. SHIB's branding and social media presence have made it popular among crypto enthusiasts. It is one of the most popular cryptocurrency assets on X, Discord, and Reddit, with millions of interactions. Mid-December last year, these websites and other cryptocurrency-related social media networks saw about 24,000 SHIB posts. With over 85 million social media mentions, SHIB created attention. SHIB momentarily reached $0.00001094, a three-month high, because to the social growth. More than social media, SHIB is interested Over time, SHIB's interest expanded beyond social media. Recently, it became the second most sought-after digital asset in the EU, cementing its market position. Shiba Inu placed second, beating top cryptocurrencies like Dogecoin , Cardano (ADA), and Ethereum. The rankings were based on Google Trends data from the previous year to determine which cryptocurrency each European nation wishes to invest in. This key milestone shows broad awareness among European investors considering the coin. #BullorBear #SHIB $SHIB
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Terraform Labs and Do Kwon's attorneys are preparing to make closing arguments in a civil fraud trial, causing a 5% drop in the #LUNC price Final arguments will be presented to a jury on Friday by Terraform Labs and attorneys representing founder Do Kwon. The SEC has requested a prohibition on Do Kwon and Terraform Labs from the US securities market in addition to seeking civil fines. The price of Terra Classic $LUNC has decreased by over 5%. As attorneys for Terraform Labs and its creator, Do Kwon, prepare to make closing arguments in a civil action, the price of Terra Classic (LUNC) falls on Friday. The corporation and its creator, Kwon, are facing fraud allegations filed by the SEC, which claims that they deceived investors about the safety of its stablecoin, TerraUSD. Legal action is imminent as LUNC holders prepare for the lawsuit Following the demise of its sibling tokens, UST and LUNA, the original Terra chain's token, LUNC, was rechristened Terra Classic. Even if the stablecoin failed, the Terra Classic token's blockchain and community are still active. The SEC has accused #Terraform Labs and Do Kwon of deceiving investors and engaging in fraud; their lawyers are fighting back. A jury will hear the closing statements from the attorneys. Both the founder and the business have been asked to be banned from the US securities sector by the SEC, who is also pursuing civil fines. Since the founder of Terraform Labs is now awaiting extradition in Montenegro, it is believed that Do Kwon will not be present at the trial. Holdings of LUNC are seeing a 5% decline, hovering at $0.0001330, as the trial's court hearings are anticipated. During the previous week, the asset lost roughly 17% of its value. On April 1, #Binance destroyed more than 4 billion LUNC tokens. There was no increase in the price of LUNC due to the fire.
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Grayscale Sells All $ADA From Large Cap Fund, Cardano Price Falls The Cardano (ADA) price has dropped 12% since the week began, including a 2.6% decline today. ADA is the 9th biggest cryptocurrency with a $20.27 billion market value. The crypto market is mainly sideways to downward, with ADA losing more than its peers like ETH (7.4%), BNB (6.4%), Solana (6.3%), and XRP (6.1%). Cardano's faster decrease may be due to the Grayscale Digital Large Cap Fund's sale of all ADA holdings. On January 4, the $579 million fund held 1.62% of its portfolio, or $9.4 million, in Cardano. Grayscale Investments revealed the decision Thursday at its first-quarter 2024 review. The official news announcement said that GDLC sold Cardano and allocated the cash profits to Fund Components according to their weightings. This rebalance removed ADA from GDLC's portfolio. The fund's ultimate composition on April 3, 2024, is Bitcoin (70.96%), Ethereum (21.84%), Solana (4.52%), XRP (1.73%), and Avalanche (0.95%). According to the press release, Grayscale sold Cardano (ADA) and used the cash proceeds to buy Fund Components in proportion to their weightings in line with the CoinDesk Large Cap Select Index methodology. After rebalancing, Cardano (ADA) was withdrawn from GDLC. Grayscale also emphasized the quarterly examinations of the GDLC, DEFG, and GSCPxE Fund compositions to update or add Fund Components depending on Index Provider index methodology. This ensures the funds' holdings match current market trends and asset performance. Cardano remains in the Grayscale Smart Contract Platform Ex-Ethereum Fund. The coin ranks second behind Solana (58.41%) with 14.56% weighted. This concise statement captures the volatility of crypto investments and the huge influence that large financial firms like Grayscale may have on digital asset markets. ADA traded at $0.57 press time. For short-term bullish momentum, ADA must exceed the 100-day EMA at $0.58. Three times since mid-January, the 100-day EMA has provided solid support. #BullorBear #ada #cardano
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