Gensler FUDing around?

DATE: 20-04-23 View online Hey Cryptonews, here's our curated daily bundle of crypto news. Correction hits Bitcoin despite holders' interest Bitcoin fell close to the $29,000-mark following a bout of correction However, outflow exchange balance registered an increase Ever since Bitcoin crossed the $30k mark, the crypto community saw a revived interest from various beginners. However, on 19 April, Bitcoin witnessed a correction as its price slipped by 3%, fueled by long-term holders increasingly selling their BTC. The king coin is now below the 30k level. However, an analysis by CryptoQuant found that there was a hike in the BTC outflow exchange balance, which means that more BTC investors are moving their coins to wallets. This could thus offer BTC some much-needed support to jump back into its race to $30k. The coin's ongoing trajectory could be similar to the 2018 bear market. Before the bull run of 2019, BTC's price remained significantly below its realized price in 2018. Before BTC could embark on its bullish journey of 2023, the final capitulation phase might see BTC trading much lower than its realized price. Learn More SEC Chair Gensler's response triggers ETH's drop below $2k  ETH dropped by over 5% immediately after his statement Sell pressure rose as Gensler failed to give an answer about the nature of ETH The crypto-market's performance has been quite the mid-week rollercoaster for the king of the altcoins. Ethereum suffered yet another blow, triggering another dip below the $2,000 price range. This, days after achieving its highly coveted price target. ETH's selling pressure kicked in after U.S. SEC Chairman Gary Gensler's grilling failed to provide a clear answer to whether Ethereum is a security or commodity. The antics are likely the reason for the hard midweek pivot.  This affected ETH, as well as most of the top altcoins, as failing to offer a clear answer triggered some FUD among crypto-holders. The lack of clarity further indicates that the U.S. regulator does not have clear guidelines as far as crypto-regulations are concerned.  On 19 April, ETH dropped by over 5% to its $1,976 price tag - A sizable pullback.  Learn More Tron launches new features for Stake 2.0 Tron launched two new features for Stake 2.0 - Staked TRX and Energy Rental  Total amount of TRX staked has been showing signs of recovery Tron failed to meet expectations with its Stake 2.0 launch last week as TRX's staking strength saw no hikes. However, the latest announcement could fuel a pivot and bring better news in the days to come.  The JustLend DAO Mainnet brings along with it two new features for Stake 2.0. The Staked TRX feature will allow users to get sTRX tokens and earn high yields by staking TRX. Another feature called "Energy Rental" offers a more cost-effective alternative to obtaining energy by staking or burning it.  These updates may take a while to show their impact on TRX staking. At press time, TRONSCAN's data revealed that the total amount of TRX staked showed signs of recovery as it recorded an uptick.  On the other hand, Tron's weighted sentiment declined sharply, suggesting that negative sentiments around the token were dominant in the market. Learn More Coinbase gets regulatory license in Bermuda, plans to launch derivatives exchange License enables exchange to engage in activities such as token sales, issuance This, while operating as a digital asset, derivatives exchange provider Coinbase has announced the receipt of a regulatory license from the Bermuda Monetary Authority, allowing the cryptocurrency exchange to operate in the nation. This news was announced in a blog post on 19 April.  Coinbase has obtained a Class F License under the Digital Asset Business Act in Bermuda, which enables the exchange to engage in activities such as token sales and issuance, as well as operate as a digital asset and derivatives exchange provider. Coinbase is reportedly launching a derivatives exchange in Bermuda next week. Coinbase stated that it chose Bermuda as a financial hub due to the clear regulatory environment, which is known for its rigor, transparency, compliance, and cooperation. Some in the crypto community speculate that this move could be the start of Coinbase's exit from the U.S., following CEO Brian Armstrong's recent disclosure that the exchange may consider leaving due to a lack of regulatory clarity. MetaMask denies claims of wallet exploit in 'massive' $10M hack MetaMask highlighted that the theft was not specific to its wallet  It claimed that it occurred across multiple blockchains MetaMask has denied claims that its wallet was exploited in a "massive wallet draining operation" that resulted in the theft of over 5,000 Ether, worth over $10.5 million in total. The company responded to tweets made by the founder of MyCrypto, Taylor Monahan, who claimed that an unidentified exploit had been responsible for the theft of crypto and NFTs since December 2022. MetaMask stated, "...Recent reporting on [Monahan's] thread has incorrectly claimed that a massive wallet-draining operation is a result of a MetaMask exploit." Asserting that the information is incorrect, MetaMask highlighted that the recent theft of over 5,000 Ether was not specific to its wallet and occurred across multiple blockchains. The company also confirmed that it is investigating the source of the exploit and collaborating with other players in the Web3 wallet industry to address the issue. Trezor wallet enables CoinJoin option for Bitcoin transaction privacy Feature allows users to hide their transactions, balances when using Bitcoin Feature requires users to enable anonymous communication protocol - Tor Trezor, a cryptocurrency hardware wallet company, has partnered with the privacy-focused Wasabi Wallet to enhance the privacy and security of Bitcoin transactions. Trezor has introduced the CoinJoin feature on its hardware wallets to enable users to increase the privacy and security of their transactions. Trezor has announced the immediate availability of the CoinJoin feature on its Trezor Model T hardware wallet. This collaboration with Wasabi Wallet allows users to hide their transactions and balances when using Bitcoin for purchases, donations, and other transactions. Trezor also plans to introduce the CoinJoin option for its Model One hardware wallet soon. To use the CoinJoin feature on Trezor's hardware wallet, users must create a new CoinJoin account on the main menu, along with other account types like SegWit and Bitcoin Taproot. The feature also requires users to enable the anonymous communication protocol, Tor, to ensure maximum privacy. Notably, users need to pay mining fees for each round of CoinJoin in addition to coordinator fees. Hong Kong court rules cryptocurrencies as property Judge Linda Chan stated that crypto has property attributes The ruling involved the now-defunct crypto-exchange Gatecoin A Hong Kong court has recognized cryptocurrencies as property and can be held in trust.  As per an analysis of the ruling published by the law firm Hogan Lovells, Judge Linda Chan stated that crypto has property attributes. Notably, the court followed the reasoning of other jurisdictions that have deemed crypto as property and the subject matter of trust. Chan noted,  "...Like other common law jurisdictions, our definition of 'property' is an inclusive one and intended to have a wide meaning." The ruling involved the now-defunct crypto exchange Gatecoin. The exchange fell victim to a hack in 2016 resulting in the loss of approximately $2 million worth of digital assets. In March 2019, the exchange disclosed that it had been issued a mandatory liquidation order by a Hong Kong court. According to Hogan Lovells, the ruling could offer insolvency practitioners in Hong Kong a better understanding of digital assets. By acknowledging that crypto has similar properties to other assets like stocks, this decision aligns Hong Kong's stance on cryptocurrencies with that of other jurisdictions. More South for Bitcoin Coin Price 24hr Market Cap ↓BTC $28,770 -1.9% $556 Billion ↓ETH $1,950 -1.5%  $234 Billion ↓MATIC $1.09 -2.5%  $9 Billion Bitcoin [BTC] descended by 1.9% over the last 24 hours, trading at $28,770. The CMF signaled a seller's bias over the market with a -0.03 reading. The RSI was slightly below the 50-mark with a reading of 49.61, indicating a selling bias. The parallel movement of the EMA ribbons further affirmed strong selling pressure.  Ethereum [ETH] lost 1.5% of its value over the past day and was changing hands at $1,950. MACD lines revealed momentum into the bearish territory as the Signal line overtook the MACD line above the zero-mark. This highlighted signs of a bearish downtrend on the cards. The Awesome Oscillator also showed signs of a possible pullback as it flashed red bars above the 0-level. MATIC dipped by 0.2% in the last 24 hours and was changing hands at $1.09. The RSI had a reading of 42, below the 50-mark, indicating bearish momentum. The Parabolic SAR also revealed bearish momentum, with the dotted markers highlighting a seller's bias towards the token. Altcoins head their separate ways Coin Price 24hr Market Cap ↓DOT $6.40 -0.8% $7 Billion ↑UNI $5.91 +0.1% $4 Billion ↓SOL $22.65 -2.0% $8 Billion DOT depreciated by 0.8% in the aforementioned period, with the crypto trading at $6.40 at the time of writing. The RSI registered a reading of 49.60, below the neutral 50-level, hinting at bearish momentum in the market. The MACD also started to see red histograms flashing above the half-line, indicating momentum favoring the selling. UNI hiked by 0.1% over the last 24 hours of trading, standing at $5.91 at the time of writing. The OBV seemed to be moving north further from the baseline, highlighting bullish momentum and giving the buyers a slight edge. On the contrary, the Awesome Oscillator saw bears gathering as it started to flash red candlesticks above the half-line. SOL was trading at $22.65 after it descended by 2.0% over the last 24 hours. The RSI was above the 50-mark with a reading of 52.15 reflecting bullish market sentiment. The Parabolic SAR also reconfirmed this trend as it hinted at a buyer-dominated market with dots standing below the price. Mid-cap alts with middling gains Coin Price 1w Market Cap ↑↑BTT $0.000000689001 +12.6% $659 Million ↑LINK $7.83 +8.6% $4 Billion ↑↑SNX $2.90 +12.8% $922 Million BTT registered gains of 12.6% over the past week and was changing hands at $0.000000689001. The MACD projected numerous green histograms above the half-line, denoting momentum in favor of buyers. The RSI was seen with upward progression above the half-line with a reading of 59.68, further confirming the sentiment. LINK rose by 8.2% in the aforementioned period, standing at $7.83 at the time of writing. The RSI stood at 54.85, above the neutral 50, highlighting strong bullish momentum in the market. The On Balance Volume also continued with a north-ward progression, further indicating a strong bullish sentiment on the cards.  SNX was trading at $2.90 following an uptick of 12.8% in the last week of trading. The RSI saw a reading of 57.34 - a sign of bullish momentum on the cards. The On Balance Volume indicator with a definitive northward progression further highlighted the strong buying uptrend. Share with friends: Facebook  | |  Twitter  | |  Email © 2022 Unhashed. All Rights Reserved. Unsubscribe