My oh mine, BTC!

DATE: 18-04-23 View online Hey Cryptonews, here's our curated daily bundle of crypto news. BTC and ETH's bullish season might cool off: Santiment  Investors are cashing out, thereby decreasing buying pressure Whales have been obligatory in making large transactions Bitcoin and Ethereum's latest hikes to the $30,000 and $2,000-price levels have captured the attention of investors and cryptocurrency enthusiasts alike. It could, however, be time to bid farewell to these remarkable rallies.  According to Santiment's mid-April update, profit-taking by traders and investors who have benefited from the recent price gains are contributing to the cooling-off period. There has also been an incredible hike in the social dominance of stablecoins. Since USDT's dominance metric hit 3.01% on 17 April, investors could be locking profits as the price hits new highs - leading to a temporary slowdown in buying pressure. In a cheery development, whales have been making impressive moves on the Bitcoin network. Increasing these large transactions could further help stabilize BTC and ETH's returns.  Learn More Bitcoin miners see relief as U.S electricity prices go down  Revenue continues to decline as miners are impacted by increasing difficulty Bitcoin miners could see some relief as energy prices go down Bitcoin miners have been facing a lot of issues in terms of generating revenue, despite the appreciating price of the king coin. With increasing difficulty and growing costs, the amount of revenue generated by miners has dwindled significantly. However, data provided by Hashrate Index suggests things could work out positively for miners in the long term.  The U.S. Energy Information Association (EIA) anticipates a fall in electricity prices this year. According to EIA's short-term energy outlook, there will be a 1% reduction in electricity demand, which may lead to a decline in electricity prices during the second and third quarters. The rising price of Bitcoin will affect miners too. The year-to-date hike of over 80% in Bitcoin's value has led to a 38% increase in the hash price. This has increased breakeven costs, referring to the expense of mining Bitcoin without suffering any financial losses. Learn More SEC issues Wells Notice to Bittrex  The U.S. Securities and Exchange Commission has issued a Wells Notice to Bittrex News of the potential enforcement action was shared last month. The Securities and Exchange Commission (SEC) has a new crypto-organization in mind for a potential lawsuit, Bittrex, a crypto-exchange based in Seattle, Washington.  According to a report by the Wall Street Journal, staff from the enforcement division of the SEC informed Bittrex of their intention to sue the crypto-exchange. The episode relates to alleged violations of investor-protection laws. David Maria, the exchange's General Counsel, revealed that news of the potential enforcement action was shared with them last month. As per the Wells Notice, Bittrex has been accused of violating laws by conducting business as an exchange, broker-dealer, and clearinghouse.  "Regulatory requirements are often unclear and enforced without appropriate discussion or input, resulting in an uneven competitive landscape," she further stated. Learn More Binance's BNB Chain flags 191 high-risk DApps, fake tokens Projects under suspicion for charging high or opaque tax fees and more  Three projects are recipients of funding from assets that originate from Tornado BNB Chain, the blockchain developed by crypto-exchange Binance, recently expanded its red alarm list to include 191 high-risk projects and decentralized applications (DApps) that are currently hosted on the blockchain. These 191 new projects that have been included in the red alarm list of BNB Chain are under suspicion for various reasons. Such as the issuance of fake tokens, charging high or opaque tax fees, or having non-functional websites or Twitter handles. Among the new additions, three projects, namely CycGo, Piston token, and Shorter Finance, have been identified as potential recipients of funding from assets that originate from Tornado.  BNB Chain's announcement on the matter stated,  "...Make sure to review our weekly Red Alarm list to familiarize yourself with suspicious actors on our network." Blockchain platform seeks SEC approval for OTC stock trading Platform will operate within existing regulated brokerage ecosystem from FINRA, SEC Once approved, the SEC and FINRA will become Certificate Holders with full access to transactions BlackStar Enterprise Group, a Delaware-based company, is seeking SEC registration to conduct on-chain OTC stock trading. The company has been developing the platform since 2018 and has communicated with regulators for almost two years, answering their questions and comments. Recently, it submitted a detailed plan to the SEC Trading and Market division outlining how the platform will operate. BlackStar CEO Joseph Kurczodyna sought SEC permission to build a demo of their platform in 2018. The platform has since proved that U.S. registered securities can be traded digitally on a blockchain while remaining compliant with SEC and broker dealers' rules. The platform will allow trading OTC securities within the existing regulated brokerage ecosystem from FINRA and SEC. BlackStar's platform, built on a private blockchain using Amazon's Quantum Ledger Database, will remain in testing until licensed to a broker-dealer, clearing firm or ATS. Once approved, the SEC and FINRA will become Certificate Holders with full access to transactions. Notably, the platform will not support tokens, crypto assets or short selling transactions. NYDFS to assess supervisory costs from licensed crypto-firms Costs will be used to add talent to its virtual currency team New regulation will apply to crypto-firms operating in the state with a BitLicense NYDFS has adopted a regulation allowing it to assess supervisory costs from licensed crypto firms in New York. On 17 April, NYDFS announced that the costs enforced by the new regulation will be utilized for "adding top talent to its virtual currency team," and will be assessed for supervising and examining crypto firms operating in the state with a BitLicense.  NYDFS Superintendent Adrienne Harris stated,  "...This regulation provides the Department with additional tools and resources to regulate the virtual currency industry now and in the future as innovators create new products and use cases for digital assets."  Since 2015, crypto firms operating in New York State have been required to obtain a BitLicense. In December 2022, NYDFS proposed a regulation to assess costs from these firms, and later consulted with key stakeholders to receive feedback. The regulator added this rule in response to the absence of a provision for assessing operating costs in the state's Financial Services Law. Bhutan's sovereign investment arm quietly invests millions in crypto DHI was a customer of bankrupt crypto-firms BlockFi, Celsius DHI reportedly withdrew >$65M and deposited nearly $18M in crypto Bhutan's investment arm, Druk Holding and Investments, estimated to manage around $2.9 billion in assets, reportedly invested millions in cryptocurrencies, and was a customer of bankrupt crypto firms BlockFi and Celsius. According to a Forbes report, DHI grew its crypto portfolio without disclosing it to the public, which became known during the crypto contagion in 2022 when these companies filed for bankruptcy. As per the report, DHI withdrew more than $65 million and deposited nearly $18 million in cryptocurrencies, as revealed by a Celsius filing. Meanwhile, BlockFi's lawyers lodged a complaint against DHI to recover the outstanding assets, claiming that the investment firm defaulted on a $30 million loan in March. BlockFi alleged that DHI refused to repay the loan entirely after selling off the collateral of 1,888 Bitcoins, which was worth $76.5 million at the time. In contrast, DHI CEO Ujjwal Deep Dahal mentioned in a statement to Forbes that the matter is confidential and emphasized that the "matter with BlockFi has been settled." Bitcoin & co. find green Coin Price 24hr Market Cap ↑BTC $29,905 +0.1% $578 Billion ↑ETH $2,104 +0.6%  $251 Billion ↑ADA $341.95 +0.3%  $15 Billion Bitcoin [BTC] was trading at $29,905 following a slight recovery of 0.1% in the last 24 hours. With red bars forming above the 0-mark, the AO hinted at a possible pullback - A sentiment that was also seen in the MACD as the MACD line crossed over the Signal line above the 0-mark.  Ethereum [ETH] was trading at $2,104 after climbing by 0.6% during the day's trading session. The Chaikin Money Flow flashed a positive number, one hinting at buyers' dominance in the market. The Awesome Oscillator confirmed a bullish trend as it glowed green signal bars above the half-line. Cardano [ADA] was changing hands at $0.444955, following a hike of 0.3% in the aforementioned period. This hike was reflected by the On Balance Volume as it stood in bullish territory. The Directional Movement Index depicted a strong bullish trend with the ADX at 36 and +DI at 30. Mixed bag for altcoins Coin Price 24hr Market Cap ↑MANA  $0.68 +5.1% $1 Billion ↓DOGE $0.09 -0.1% $12 Billion ↑↑ARB $1.79 +11.4% $2 Billion MANA appreciated by 5.1% in the aforementioned period, with the crypto trading at $0.68 at the time of writing. The RSI registered a reading of 63.95, above the neutral 50-level, hinting at strong bullish momentum in the market. The MACD also started to see green histograms flashing above the half-line, indicating momentum favoring the buying. DOGE dove by 0.1% over the last 24 hours of trading, standing at $0.09 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. The Awesome Oscillator confirmed this momentum as it flashed green candlesticks above the half-line. ARB was trading at $1.79 after it ascended by 11.4% over the last 24 hours. The RSI was below the 50-mark with a reading of 49.68 reflecting bullish market sentiment. The Parabolic SAR also reconfirmed this trend as it hinted at a buyer-dominated market with dots standing above the price. A rare triple-digit gain for XRD Coin Price 1w Market Cap ↑↑↑XRD $0.11 +120.5% $1 Billion ↑↑INJ $9.23 +46.7% $738 Million ↑↑RNDR $2.01 +36.8% $726 Million XRD registered gains of 120.5% over the past week and was changing hands at $0.11. 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 84.53, further confirming the sentiment. INJ rose by 46.7% in the aforementioned period, standing at $9.23 at the time of writing. The RSI stood at 83.23, 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.  RNDR was trading at $2.01 following an uptick of 36.8% in the last week of trading. The RSI saw a reading of 75.89 - 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