• Bitcoin has been in a strong upswing, but it has yet to break the $30K resistance level.
• The bulls have encountered significant resistance around the $30K psychological level.
• A divergence between the price and RSI indicator suggests a possible correction or consolidation phase.

Bitcoin Price Analysis

Bitcoin’s recent impulsive rally seems to have reached a temporary halt, with the price likely entering a correction or consolidation phase before continuing its uptrend. Significant resistance is located at the $30K mark, which has yet to be tested. Technical analysis shows that there are signs of decreasing bullish momentum and potential retesting of two major support levels at $25K and roughly between $24.4K – $23K if a correction occurs. A divergence between the price and RSI indicator further strengthens this possibility.

Daily Chart Overview

After forming a pullback to 61.8% Fibonacci retracement level at around $19.6K, Bitcoin initiated an impressive rally with its current high surpassing above $28K; however, the bulls failed to reach the significant resistance area of $30K which also acts as a psychological barrier for traders believing that once this resistance is broken, it will signal an end for the bear market cycle. Meanwhile, clear divergence can be identified between Bitcoin’s price and RSI indicator suggesting potential short-term correction or consolidation stage ahead.

4-Hour Chart Analysis

The 4-hour timeframe chart reveals more insights into Bitcoin’s impulsive bullish rally; however, recent price action indicates that bullish momentum has weakened leading to a possible short-term corrective or consolidative phase for Bitcoin’s price action. If this scenario plays out then two major support levels could come into play: firstly at around $25k followed by another support zone located roughly between 0.5 – 61.8 Fibonacci retracement levels at around $24.4k -$23k respectively; furthermore, divergence seen between Bitcoin’s price and RSI indicator further increases chances of such corrective move taking place soon enough..

Significance Of Breaking The Resistance Level

Breaking above the psychological resistance level of 30k could be key factor in signalling an end to bear market cycle; although technically speaking there are still other important resistances such as previous all time highs etc… yet breaking through 30k would be very symbolic in terms of allowing much higher prices over coming months (possibly even years).

Conclusion

Overall it appears that Bitcoin is temporarily stalled from moving higher as significant resistance exists at 30k accompanied by weakening bullish pressure exhibited via divergence pattern on both daily & 4 hour charts . Therefore next few days should reveal whether current corrective/consolidative move will take place or not followed by further upside movement towards 30k + region

FTX Leadership Uncovers $3.2 Billion Paid Out to Former Execs

Summary

• The new leadership of FTX has uncovered $3.2 billion worth of direct payments to former execs during the platform’s operation.
• This sum does not take into account salaries and other legitimate operational expenses, nor does it include luxury real estate purchases or political donations.
• The new leadership will attempt to recover as many of these missing funds as possible from the former company executives.

Background Information

The FTX Group’s balance sheets were poorly kept at best and deliberately fraudulent at worst, prompting the appointment of a new leadership team tasked with untangling them. This process led to the discovery of $3.2 billion worth of direct payments to former execs during the platform’s operation. The total amount did not include salaries and other legitimate operational expenses, over $240 million spent on luxury real estate in the Bahamas, or any political donations made by the FTX Group.

Recovering Missing Funds

• Amazon, the world’s largest e-commerce company, is reportedly preparing to enter the world of non-fungible tokens (NFT) with the launch of its own Marketplace, reportedly scheduled for April 24th.
• The new ‘Amazon NFT Marketplace’ or ‘Amazon Digital Marketplace’ will offer 15 NFT collections that will initially be available to customers in the United States.
• One of the most interesting features of this Marketplace is the option to link NFTs with physical goods delivered to the users’ doorsteps.

Amazon Plans To Launch Its Own NFT Marketplace

Amazon, one of the biggest e-commerce companies in the world, is planning on launching its own non-fungible token (NFT) marketplace on April 24th 2021. This new ‘Amazon NFT Marketplace’, or ‘Amazon Digital Marketplace’, will offer 15 different collections that are currently only available in the United States.

Unique Feature Of Linking Physical Goods With NFTs

The most interesting feature about this marketplace is that it allows users to purchase physical goods and link them with their purchased non-fungible tokens. This makes it easier for collectors as they no longer have to go through crypto complexities and can simply use their credit cards for making payments and receive their products at home just like a regular purchase.

Andy Jassy’s Statement On Selling NFTs

This new initiative from Amazon comes after CEO Andy Jassy said back in April 2022 that they were open to selling non-fungible tokens (NFTs) “in the distant future”. The reports of this interest started circulating around January 2021 which eventually led to this confirmed date by Yahoo Finance for launching this marketplace.

Competition With Other Platforms

With Amazon entering into this space, there is a possibility that it might be competing against existing platforms such as Blur and OpenSea – both are existing platforms which allow users to buy, sell and trade digital assets including artworks and collectibles in exchange for cryptocurrencies or fiat currencies .

Conclusion

The launch of Amazon’s own Non Fungible Tokens (NFT) marketplace could potentially simplify user experience when it comes to buying digital assets and make it easier for people who don’t understand crypto mechanics but would still like explore possibilities within this space.

• Stacks (STX) surged to above $1 for the first time since April of last year.
• Bitcoin (BTC) attempted to take down $25,000 but was unsuccessful and dropped as low as $22,800 over the weekend.
• BTC pumped to $23,800 on Monday and then initiated another leg up hours ago, hitting a high of $24,000.

Stacks Marks 10-Month Highs Above $1

Stacks (STX) have been climbing steadily with yet another double-digit surge that drove it to above $1 for the first time since April of last year.

Bitcoin Eyes $24K Again

Bitcoin (BTC) attempted to take down $25,000 but was unsuccessful and dropped as low as $22,800 over the weekend. However, bitcoin began to recover some ground at the start of the working week and pumped to $23,800 on Monday. Despite being stopped there and driven back down to $23,000 hours later, the cryptocurrency initiated another leg up hours ago which saw BTC skyrocket by around $1,000 and touch a high of $24K again.

Most Altcoins Turn Green

Most altcoins have also turned green today due in part to STX’s impressive gains in value.

US PCE Data Affects BTC Performance

The US Personal Consumption Expenditure data released on Friday affected bitcoin’s performance negatively which resulted in an 11-day low at under 22,800 during the weekend.

Conclusion

In conclusion, Stacks achieved an impressive milestone by marking 10-month highs above 1 Dollar while Bitcoin continues its rollercoaster ride between 23k – 24k USD range. Despite being affected by US PCE data last week which pushed it south hard; bitcoin has managed to recover some ground this week leading it back up towards 24K USD level once again

• TCNH, a stablecoin pegged to offshore Chinese Yuan (CNH), is now available on Huobi and can be traded through the TCNH/USDT pair.
• Huobi is a leading crypto exchange with a cumulative trading volume of over $1.2 trillion since its launch in 2013.
• TCNH tokens can be minted directly through TCNH’s official website after being verified as an organization and are also available on other exchanges.

TCNH, Stablecoin Pegged to Offshore Chinese Yuan

The recently launched stablecoin TCNH is finally available on Huobi where users can trade it through the TCNH/USDT pair. The coin, which is pegged to offshore Chinese Yuan (CNH) allows organizations to mint their own token after verification from the official website of TCNH.

About Huobi

Huobi is a well-known cryptocurrency exchange platform that has seen its cumulative trading volume exceed $1.2 trillion since its launch in 2013. It provides secure and reliable crypto trading and digital asset management services for millions of users in over 130 countries/regions worldwide with customer service teams set up in Singapore, Japan, Korea, Brazil, Hong Kong SAR and other regions. Moreover, Huobi is currently seeking a license in Hong Kong which makes it stand out as a leader among cryptocurrency exchanges in terms of compliance and regulation – something that will benefit the utility and adoption of TCNH greatly.

Advantages of Trading with TCNH

TCNH tokens are deployed on TRON – one of the world’s fastest-growing public blockchains – making them highly accessible with low transaction costs & instant transfer speed for those looking for faster & easier ways to make transactions compared to traditional methods such as wire transfers or international payments. This makes trading with TCN extremely effective especially when dealing with large sums of money across various currencies within different countries or regions due to its low cost & quick transfer timeframes without having to worry about currency fluctuation risk associated with fiat currencies like USD or EUR etc..

Minting & Acquiring Tokens

Organizations are able to mint their own tokens by verifying themselves on the official website of TCN while individuals may acquire these tokens via crypto trading pairs offered by various exchanges including Huobi mentioned earlier above which supports this currency pair allowing people access more easily than ever before given its global availability & support from multiple platforms like TRON blockchain etc..

Conclusion

In conclusion, it looks like there are many advantages that come along with launching your own tokenized fiat currency such as CNH-pegged stablecoin called “TCN” which includes lower transaction costs plus faster transfer speeds than traditional methods whilst also providing more control over how you manage your finances when dealing internationally compared against volatile markets like cryptocurrencies where prices fluctuate wildly each day due too speculation & market sentiment etc…

• Binance USD (BUSD) redemptions have surged to $360 million as investors panic in response to the threat of legal action from the U.S. Securities and Exchange Commission (SEC).
• Paxos, the issuer of BUSD, will no longer mint the dollar-pegged asset from Feb. 21 due to SEC accusations that it is selling unregistered securities.
• Analysts believe that this is a clandestine attack on Binance, even though Paxos is fully regulated and compliant.

The Threat of Legal Action

The latest blow to the crypto industry was dealt by U.S. regulators who issued a threat of legal action against Paxos, the issuer of the third-largest stablecoin – Binance USD (BUSD). The SEC accused Paxos of selling unregistered securities, even though BUSD is a stablecoin. In response, Paxos announced that it would no longer mint the dollar-pegged asset from Feb 21 onwards.

Panic Sets In

This news has caused panic amongst investors and led to an exodus from BUSD with redemptions surging over the past few hours. Industry analysts have labelled this move as a clandestine attack on Binance by choosing any stablecoin to target but going with one that was fully regulated and compliant instead – thus taking the path of most resistance. As a result, supply has declined by 2.2% in just a few hours since before the announcement when there was $16.15 billion BUSD circulating.

Paxos’ Reserves Fully Backed

Despite these events, Paxos has maintained that its BUSD reserves are still 1:1 backed by dollars and reassured customers that their funds are safe and secure despite this suspension in minting new tokens until further notice or direction from relevant authorities or regulators in New York State or elsewhere in connection with its virtual currency activities.

Binance’s Response

Binance has yet to comment publicly on this situation but they released an article shortly after outlining their stance on digital assets being considered securities under applicable laws which aims to provide clarity for users who may be uncertain about whether certain digital assets should be treated as security tokens or not within different jurisdictions around the world.

Conclusion

It remains unclear how this episode will end but what is certain is that it serves as another reminder for investors to remain vigilant when investing in digital assets due to their lack of regulatory oversight compared traditional financial products such as stocks and bonds which have more established protection for consumers’ investments through government agencies like SEC or FINRA..

• Uniswap v3 will be deploying on Ethereum’s layer 2 protocol Boba Network following a successful governance vote.
• The proposal was submitted by the Boba Foundation and FranklinDAO with 51.01 million voting YES out of the 40 million needed to pass it.
• Boba Network supports lightning-fast transactions and fees 40-100 times less than the Ethereum mainnet and other layer 1 networks.

Uniswap to Deploy on Boba Network

Leading decentralized exchange (DEX) Uniswap v3 will be deploying on Ethereum’s layer 2 protocol Boba Network following a successful governance vote from the Uniswap community. The proposal was earlier submitted by the Boba Foundation and FranklinDAO with backers including GFX Labs, Blockchain at Michigan, Gauntlet, and ConsenSys. Out of the 40 million votes needed to pass the proposal, 51.01 million answered YES resulting in Uniswap v3’s deployment to Boba in the coming weeks.

Boba Network

Boba Network is a layer 2 scaling solution powered by Hybrid Compute technology that supports lightning-fast transactions and fees 40-100 times less than the Ethereum mainnet and other layer 1 networks. It has already deployed multichain support for Avalanche, BNB, Moonbeam, and Fantom. According to Alan Chiu, core contributor at Boba: “Boba Network’s Hybrid Compute will make it possible for ecosystem developers to build a new generation of hybrid on-chain/off-chain DeFi applications atop of Uniswap.”

Advantages of Layer 2 Protocols

Layer 2 protocols offer an efficient scaling solution as they enable users to carry out transactions off-chain without compromising security or decentralization of data stored on Ethereum’s mainnet . This reduces transaction costs significantly while solving issues like high latency or congestion in network traffic which often affect user experience on layer 1 protocols like Ethereum’s mainnet .

Benefits from Uniswap V3 Deployment

Deploying onto Bob

• Recent Bitcoin gains have resulted in another group of buyers back in the green as prices close in on another key level.
• According to Glassnode, those that bought Bitcoin in 2019 are back in the green again with an average withdrawal price of $21,800.
• Buyers from 2021 are deep in the red on average and won’t see a profit until prices reach $43,400.

The recent surge in Bitcoin prices has been a welcome sight for many in the cryptocurrency market, with investors of different types all seeing their portfolios increase in value. One group of buyers in particular has been able to move back into the green after being deeply in the red for some time – those who purchased Bitcoin in 2019.

According to data from Glassnode, the average withdrawal price for that year was $21,800, meaning that those who bought in 2019 are finally back in the green. Those who bought in 2020 and 2022 still remain in the red on average, with prices needing to move above $28K for the group to see a profit on holdings. Buyers from 2021 are deep in the red, and won’t see a profit until prices reach $43,400.

The recent surge in Bitcoin prices has been a cause for celebration amongst the cryptocurrency community, who have been eagerly awaiting a bull market. This surge has allowed many investors to start seeing returns on their investments, even if those returns are not as high as those who purchased Bitcoin in the earlier days of the cryptocurrency.

The current Bitcoin market rally has been attributed to a number of factors, including increased institutional interest, the weakening US dollar, and the impending halving of Bitcoin’s block rewards. These factors have all combined to create a perfect storm for Bitcoin and other cryptocurrencies, with prices reaching all-time highs and investors seeing returns that have not been seen for a long time.

As Bitcoin continues on its current trajectory, it is likely that more and more investors will be brought into the green, with even those who purchased Bitcoin in 2021 likely to see some kind of return on their investment. For now, it seems that the bull market is here to stay, with investors of all types reaping the rewards of the current market conditions.

• Bitcoin continued to gradually increase in value and tapped yet another multi-month high well above $23,000 before retracing slightly.
• Most altcoins have calmed on a daily scale, aside from OKB and APT.
• Aptos (APT) is the best performer on a weekly scale from the top 100 cryptocurrencies, having soared by almost triple digits in the past seven days.

The cryptocurrency market has seen a lot of activity in the first weeks of 2023, with Bitcoin steadily increasing in value and reaching a new multi-month high of over $23,000 before retracing slightly. While most altcoins have calmed on a daily scale, two stand out in the crowd, with OKB and Aptos (APT) having seen a lot of growth recently.

Aptos has been the best-performing token from the top 100 cryptocurrencies on a weekly basis, with the asset having exploded by almost triple digits in the past seven days. This marks a significant increase from the start of the year, when the token was trading at around $1.50 a few weeks ago. Since then, it has seen a significant surge and reached a new all-time high (ATH) of over $2.90 on January 21.

The surge was mainly driven by an increase in trading volume on major exchanges, with APT recording a peak of over $603 million worth of trades in the past 24 hours. This has been complemented by a notable increase in the token’s market capitalization, which has grown from $182 million to now surpass $300 million.

The strong performance of the token is likely due to the fact that it has been listed on several exchanges in the past few weeks, including Binance, Huobi, and OKEx, which have all helped to drive up the demand for the asset. Additionally, the token has seen a lot of support from the Aptos project team, who have been actively promoting the coin on social media and other platforms.

Overall, it’s clear that Aptos has seen strong growth in the past few weeks, and indications are that this trend is likely to continue in the near future. With the token currently trading at its ATH, it will be interesting to see how much higher it can go in the coming weeks and months.

• 21Shares launched the world’s first crypto staking index ETP (STAKE)
• The index tracks ten crypto-assets, including Binance Coin (BNB), Cardano (ADA), Cosmos (ATOM), Polkadot (DOT), Solana (SOL), and Tezos (XTZ)
• 21Shares is aiming to list the product on Xetra Deutsche Boerse

Zug-based crypto firm 21Shares has announced the launch of the world’s first crypto staking index exchange-traded product (ETP) – 21Shares Staking Basket Index ETP (STAKE). This product provides exposure to staking rewards while tracking the performance of underlying staked coins via a single ETP.

The STAKE index tracks the performance of ten different crypto-assets, including Binance Coin (BNB), Cardano (ADA), Cosmos (ATOM), Polkadot (DOT), Solana (SOL), and Tezos (XTZ). It is the first index of its kind that aims to bridge the gap between the traditional finance and digital assets world, providing exposure to staking rewards to both retail and institutional investors across the world.

21Shares is now aiming to list the STAKE index on Xetra Deutsche Boerse, which is a German-based stock exchange. This will make the product accessible to a wide range of investors, giving them the opportunity to diversify their portfolio and to benefit from staking rewards.

The index was created by 21Shares in collaboration with the Swiss investment bank Vontobel, which is one of the major players in the European financial market. The index is designed to track the staking rewards of the underlying coins, taking into consideration their net staking rewards, staking expenses, and the cost of staking coins.

It is important to note that the STAKE index does not include Ethereum (ETH), which is the largest and most popular proof-of-stake (PoS) network. This is due to the complexity of Ethereum staking and the difficulty of accurately tracking the staking rewards of the network.

In the official press release, 21Shares stated that the STAKE index offers a “unique and cost-efficient investment solution that provides exposure to the staking rewards of the underlying coins and tracks the performance of the underlying staked coins via a single ETP”.

Overall, the launch of 21Shares’ STAKE index is a major milestone for the crypto industry and provides a much-needed bridge between traditional finance and digital assets. It also provides an opportunity for investors to diversify their portfolio and to benefit from the staking rewards of the underlying assets.