BitDigest March 11 · Issue #612
- Bitcoin in new trading range showing support at $7,730 but unable to break above $8,000
- Japanese regulator creating blockchain network to promote multi-party dialogue
- Privacy coins may be behind BNP Paribas’s decision to block transactions with Coinbase
The Headlines
Japanese Financial Watchdog Introduces Global Platform to Promote Blockchain Technology
BNP Paribas Blocks Crypto Transactions with Coinbase
Eastern Caribbean Stock Exchange to Test Tokenized Offerings
Crypto Debit Card Finally Available on Mastercard Platform
FastCompany Highlights Rippleworks Efforts
Market Data
Daily Bitcoin Volume Hits ≈ $200 Million
Exchange, Custody and Product News
Brave Tokens Can be Used for Real World Rewards
Blockchain.com Starts Retail Lending Program
Cirlce Offers Business and Developers USDC Support
Huobi Launches Trading App
BitFlyer to Charge for Crypto Trading
Thoughts on the Ecosystem
Can Bitcoin Still be Uncorrelated During a Market Selloff?
'Safe-haven-ness is a Matter of Perception'
Reports you may have missed
Major equity indices are rallying on the back of solid earnings, with both the $SPX and $QQQ up over 1%. Meanwhile, crypto markets are churning lower, which is understandable as we should not expect crypto to rally alongside equities during an earnings-driven market. Crypto remains an apparently undecided market ahead of next week's FOMC meeting and the Quarterly Refunding Announcement (QRA), evidenced by another day of ETF outflows and a...
U.S. equity indices are under pressure today following disappointing economic growth in conjunction with hotter-than-expected prices paid, sparking stagflation fears and reducing the chances of rate cuts. The $SPY has declined 0.91% to test $501 and the $QQQ has dropped 1.12% to $421, being weighed down by a 12% drop in META following its Q1 earnings release. Crypto markets are faring better, with BTC -2.21% (-0.28%) trading at $64k and ETH -0.77% ...
The crypto market is pulling back from its recent surge, with $BTC falling below $65,000, $ETH trading under $3,200, and $SOL fighting to stay above $150. As expected, altcoins are also generally declining, although a few notable performers are scattered across the market. Currently, $BONK and $WIF, two prominent memecoins on Solana, are showing resilience, up 12% and 6%, respectively. Additionally, $HBAR initially doubled in price following reports that Blackrock...
Blockchain Association Sues the SEC, Cosmos Patches Potential Reentrancy Vulnerability
U.S. Treasury rates and the DXY (-0.46%) are sliding today following weaker-than-expected S&P Flash PMI data, helping catalyze a 1% rally in equity indices. Manufacturing PMI came in at 49.9 vs. 52.0 expected, and Services PMI read 50.9 vs. 52.0 expected. Bitcoin miners have benefited as rates retreat and transaction revenue remains elevated, with $RIOT, CLSK, and $MARA showing weekly gains of 26%, 16%, and 14%, respectively. Crypto assets are mixed with BTC -2.21% ...