Litecoin


                    
                    Signs of easing inflation could push Bitcoin and select altcoins above their respective overhead resistance levels in the short-term. 
                    Data from the Personal Consumption Expenditures (PCE) index showed an uptick of 0.3% in February, which lower than the 0.5% increase seen in January. Economists had projected a rise of 0.4% and the PCE data suggests that inflation is gradually showing a decreasing trend. Risky assets rallied in response to the data and some analysts expect the Federal Reserve to start cutting rates by the end of the year, The FedWatch Tool shows a 33% probability of a 50 basis point cut by December 2023.The cryptocurrency space is trying to come out of a long bear phase. This has improved sentiment and analysts are focusing on the long-term prospects of cryptocurrencies and blockchain technology. Daily cryptocurrency market performance. Source: Coin360Citi said in its “Money, Tokens and Games” March report that the blockchain-based tokenization of real-world assets could soar to between $4 to $5 trillion by 2030. Although the lack of legal and regulatory framework, and the skepticism of industry players may pose a challenge in the short term, the investment bank believes they will be overcome eventually. Could Bitcoin (BTC) and select altcoins extend their up-move or is it time for the rally to stall? Let’s study the charts of the top-10 cryptocurrencies to find out.Bitcoin price analysisThe bulls propelled Bitcoin above $29,000 on March 30 but the long wick on the candlestick shows that the bears have not yet given up and are selling on rallies. BTC/USDT daily chart. Source: TradingViewWhen a level proves too difficult to cross, usually the price retraces back before making the next attempt. In this case, if the price again fails to cross $29,000, the BTC/USDT pair may pullback to the 20-day exponential moving average ($26,707). A strong bounce off this level will suggest that the sentiment remains positive and traders are buying on dips. That will increase the possibility of a break above $29,185. If buyers succeed in their endeavor, the pair may soar to the $30,000 to $32,500 resistance zone. The first sign of weakness will be a fall below the 20-day EMA. Such a move will suggest that the bulls may be booking profits. That may result in a rest of the breakout level of $25,250. Below this level, the pair could slide to the 200-day simple moving average ($20,342).Ether price analysisEther (ETH) is facing resistance near $1,857, indicating that bears are trying to protect this level with all their might. A positive sign in favor of the bulls is that they have not ceded ground to the bears.ETH/USDT daily chart. Source: TradingViewThe rising 20-day EMA ($1,736) and the RSI in the positive territory enhance the prospects of a break above $1,857. If that happens, the ETH/USDT pair may resume its up-move and reach the overhead resistance zone between $2,000 and $2,200.Contrary to this assumption, if the price trips below the 20-day EMA, it will suggest that the bulls have given up. That could pull the price to the strong support at $1,680. A break below this level could indicate that bears have seized control. The pair may then descend to $1,600 and thereafter to $1,461.BNB price analysisBNB’s (BNB) relief rally is facing selling in the zone between the 20-day EMA ($316) and the downtrend line but the bulls are hanging on.BNB/USDT daily chart. Source: TradingViewThe 20-day EMA has flattened out and the RSI is near the midpoint, indicating that the selling pressure may be reducing. The aggressive bears may get trapped if the price rises above the downtrend line. That may result in a short squeeze, which could propel the price to the overhead resistance zone between $338 and $346.Conversely, if the price turns down from the downtrend line and plummets below $305, it will suggest that bears are back in the driver’s seat. The BNB/USDT pair may then drop to the 200-day SMA ($290).XRP price analysisThe long wick on XRP’s (XRP) March 29 candlestick shows that the bears are aggressively defending the resistance at $0.56. XRP/USDT daily chart. Source: TradingViewThe XRP/USDT pair formed an inside-day candlestick pattern on March 30, indicating uncertainty among the bulls and the bears. If the price slips below $0.52, the pair may retest the breakout level of $0.49. This is an important level to keep an eye on because a break below it could extend the correction to the 20-day EMA ($0.45).Another possibility is that the price turns up from the current level and breaks above the $0.56 to $0.59 resistance zone. If that happens, the pair may skyrocket to $0.65 and later to $0.80.Cardano price analysis After hesitating for two days, the bulls have pushed Cardano (ADA) above the minor resistance at $0.39. The price has reached the vital resistance at the neckline of the inverse head and shoulders (H&S) pattern.ADA/USDT daily chart. Source: TradingViewThe rising 20-day EMA ($0.36) and the RSI in the positive territory indicate that the path of least resistance is to the upside. If buyers thrust the price above the neckline, it will complete the reversal setup. The ADA/USDT pair could then surge toward the pattern target of $0.60.On the other hand, if the price turns down from the neckline, the bears will try to sink the pair to the moving averages. This is an important level to keep an eye on because a slide below it could open the gates for a possible fall to $0.30.Dogecoin price analysisDogecoin (DOGE) has been trading near the 20-day EMA ($0.07) for the past few days, indicating indecision among the bulls and the bears.DOGE/USDT daily chart. Source: TradingViewThe flat 20-day EMA and the RSI near the midpoint do not give an advantage either to the bulls or the bears. This uncertainty will clear if the price breaks above the 200-day SMA or plummets below $0.07.If the price rises above the 200-day SMA, the DOGE/USDT pair could pick up momentum and rally toward the $0.10 to $0.11 resistance zone. The bears are likely to defend this zone with vigor. On the downside, a break below $0.07 could result in a retest of the support near $0.06.Polygon price analysisPolygon (MATIC) nudged above the 20-day EMA ($1.12) on March 29 and 30 but the bears held their ground. Sellers will now try to sink the price to the strong support at $1.05.MATIC/USDT daily chart. Source: TradingViewThe 20-day EMA continues to slope down, indicating advantage to bears but the RSI just below the midpoint suggests that the bulls are attempting a comeback. This state of uncertainty may not continue for long.If the price breaks and sustains above the 20-day EMA, the MATIC/USDT pair may attempt a rally to the overhead resistance of $1.30. On the other hand, if the price tumbles below the 200-day SMA ($0.97), the selling could intensify and the pair may nosedive to $0.69. Related: Solana overcomes FTX fiasco — SOL price gains 100% in Q1Solana price analysisBuyers pushed Solana (SOL) above the 20-day EMA ($20.88) on March 29 but the bulls could not clear the overhead hurdle at the downtrend line.SOL/USDT daily chart. Source: TradingViewThe 20-day EMA is flat and the RSI is just below the midpoint, indicating a state of equilibrium between the buyers and sellers. The SOL/USDT pair may continue to swing between the support at $18.70 and the downtrend line for a while longer.Usually, when the price gets squeezed between two levels, it is followed by a sharp breakout. If the price breaks below $18.70, the pair could slump to $15.28. Alternatively, a rally above the downtrend line will signal a potential trend change. The pair may then start its northward march toward $39.Polkadot price analysisPolkadot (DOT) broke above the 20-day EMA ($6.13) on March 29 and the bulls thwarted attempts by the bears to pull the price back below the level on March 30.DOT/USDT daily chart. Source: TradingViewThe 20-day EMA has flattened out and the RSI is just above the midpoint, indicating a balance between supply and demand. The DOT/USDT pair could oscillate between $5.70 and $6.70 for a few days.A break and close above the $6.70 resistance will open the doors for a potential rise to the neckline of the inverse H&S pattern. Contrarily, if the price turns down and slips below $5.70, the pair may decline to $5.15.Litecoin price analysisThe bulls once again defended the 20-day EMA ($87) on March 30, indicating strong demand for Litecoin (LTC) at lower levels.LTC/USDT daily chart. Source: TradingViewBuyers will have to propel the price above $96 to signal that the short-term corrective phase may be over. The LTC/USDT pair will then try to rally to $106 where the bulls are likely to encounter strong resistance from the bears.Alternatively, if the price turns down from the current level or the downtrend line, it will suggest that bears are not willing to give up. That will increase the prospects of a break below the 20-day EMA. The pair may then slump to $75.The views, thoughts and opinions expressed here are the authors’ alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.




Price analysis 3/31: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, LTC


                    
                    Most altcoins posted a below-par performance in March, but XRP, XLM, CFX, XDC and MASK defied the trend by posting double-digit gains.
                    Bitcoin’s dominance over the crypto market, which represents its share of market capitalization relative to the total cryptocurrency market capitalization, rose steeply from around 44% to highs of 48% in March. While Bitcoin’s price increased by 22.7% during the month, most altcoins yielded subpar or negative returns. However, there were some outliers which showed a second month of positive momentum. Take for example, XRP, which saw steady positive momentum as investors expect a positive outcome in its U.S. court case against the SEC. Tokens with highest 30-day returns in the top 100 by market capitalization. Source: CoinMarketCapConflux NetworkConflux Network continued its positive run from February, nearly doubling its price in March. The project’s team continued to strengthen its partnerships in China by adding XCMD, the world’s third-largest construction machinery manufacturer and Zen Spark Technology.The Conflux team also supports the development of permissionless applications. It has established a grants program to promote its ecosystem development.The CFX token tested the support between $0.10 and $0.20 and continued its positive run to reach a new yearly high of $0.46. The market structure of the token with higher highs and higher lows looks bullish, with a potential target of $0.80. It represents the breakdown level from the 2021 bull run. CFX/USD price chart. Source: CoinGeckoXRP Ripple's chances of winning the court case against the Securities Exchange Commission (SEC) improved on March 21 after the presiding judge, Analisa Torres, decided to exclude an expert's opinion explaining how XRP could be a security.On March 27, another U.S. regulatory move was a blessing in disguise for XRP holders. The Commodity Futures Trading Commission (CFTC) in the U.S. charged Binance with improper compliance procedures and market manipulation.The regulatory body classified Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC) as commodities in the filing. Some believe that this classification will extend to XRP as well. Thus, effectively refuting the SEC's claim of XRP being a security. The market's expectation of Ripple winning the case against the SEC pushed XRP's price to new yearly highs.If Ripple goes on to win the case against SEC, the bullish momentum in XRP will likely continue in the medium to long term.XRP is currently facing resistance from the peak levels of 2022, around $0.53. A successful breakout above this level could launch the price toward previous support and resistance levels around $0.65 and $0.90.Notably, the Relative Strength Indicator (RSI), which measures the momentum of price moves relative to volume, shows that XRP has reached overbought levels. It raises the possibility of a correction toward the $0.45 level.XRP/USD daily price chart. Source: TradingViewStellar Stellar's XLM token benefited primarily due to its strong positive correlation with XRP. The correlation coefficient between XLM and XRP price movement usually stays above 0.7.Behind the scenes, the Stellar Organization is making efforts to increase the adoption of Stellar Network for remittances across third-world countries like Africa. Stellar is also working with international payments provider Money Gram to integrate the Stellar Network into facilitating global payments.Technically, the XLM/USD pair has broken out above the resistance level of $0.10. If buyers consolidate above this level, the pair can target upside to $0.15 and $0.24. On the flip side, if the bullish breakout fails to materialize, XLM can fall back toward support at $0.08. XLM/USD daily price chart. Source: TradingViewXDC Network (XDC)XDC network combines a permissioned and public chain that addresses scalability and security. The XDC token is the fuel of the network used to pay network fees and deploy applications. The network supports EVM-compatible smart contracts, protocols, and atomic cross-chain token transfers. It also fully complies with the ISO-20022 message standard, an internationally accepted standard for electronic data interchange between financial institutions.The top public blockchains in the XDC ecosystem include Ecoin, Stasis Euro, and Gobiance Exchange. These are relatively lesser-known projects trading on second-tier exchanges like HitBit and BitMart. It paints a dull picture of the project’s ecosystem development with permissionless blockchains. On the enterprise side, the project has established decent partnerships with brands like Travala and Guarda Visa cards. The factors promoting the recent price increase include the introduction of a DAO and the active role played by the management firm, XinFin, responsible for the development and managing the blockchain. XinFin recently decided to decentralize the governance of the blockchain by forming a DAO. After deployment in May 2023, the community will get to decide on the distribution of ecosystem funds to promote development. A Web3 meetup in Dubai hosted by XDC Network with over 60 developers worldwide also promoted the blockchain's ecosystem growth. The technical setup of the XDC/USD pair shows that it is at the edge of a bullish breakout. If buyers stage a breakout above the $0.045 level, the pair can likely shoot toward targets 0.064 and beyond. In case of a downside, the support level of $0.02 will be crucial for buyers.The Klinger Oscillator, a momentum indicator, paints a similar picture with a reading at zero. Positive buying action from the current levels will move the indicator into positive territory, usually a bullish sign.XDC/USD daily weekly price chart with Klinger Oscillator. Source: TradingViewRelated: Top 5 crypto winners (and losers) of 2022Mask Network (MASK)The Mask Network bridges Web2 and Web3, enabling cryptocurrency transactions directly through Web2 websites.More than 40,000 users have installed the Mask Network Chrome extension. The browser extension currently supports several decentralized applications (dApps), including Uniswap and SushiSwap, and is compatible with many social media platforms, including Twitter and Facebook.The network's Facebook integration has met with some complaints. After Elon Musk's acquisition, it mainly benefits from its Twitter integrations and the hype around cryptocurrency integrations on the social media platform. This adds considerable speculation in the token's price as the nature of Twitter's adoption is still unknown.On March 9, the token obtained a listing on the BTSE exchange, improving the liquidity and volume of the token. The project was one of the recipients of the ARB airdrop, receiving 257,540 ARB tokens.The MASK token is the governance token for the project, which is discouraging as it does not accrue yield from the network's usage. However, over 76% of the token's supply is already in circulation; it has a relatively low inflation rate.MASK/USD daily price chart. Source: TradingViewThe MASK/USD pair broke above 2022 highs of $6.10, a positive sign for technical buyers. The RSI indicator is in bullish territory and has cooled off from the overbought region, providing room for more upside.The views, thoughts and opinions expressed here are the authors’ alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.



XRP, XLM, CFX, XDC and MASK rank among the top 5 altcoin gainers in March

As Q1 2023 comes to a close, the Bitcoin and Ethereum correlation stands at a staggering 97%, trackers indicate. The Bitcoin And Ethereum Price Correlation Bitcoin and Ethereum are the world’s most valuable coins by market cap. Because of their first mover advantage, Bitcoin, the first blockchain network; and Ethereum, a legacy smart contracting platform; their native currencies, BTC and ETH, are also the most liquid and increasingly correlating in price movements. At the time of writing on March 31, trackers show that the average daily trading volumes of BTC and ETH trading volumes across various exchanges stood at $19.7 billion and $8.4 billion, respectively. Related Reading: Bitcoin Price Shows Signs of Weakness But Key Uptrend Support Intact The two coins are also listed in almost all popular centralized cryptocurrency exchanges. Notably, because of the smart contracting capability of Bitcoin, the coin has been tokenized. Billions have been deployed on Ethereum, and other smart contracting platforms. There, BTC holders engage in DeFi and other activities not possible on the Bitcoin mainnet.  That Bitcoin and Ethereum prices have been moving in lockstep over the past few months could be attributed to several factors. However, what stands out is that these coins are the most liquid in the space, with an active base justifying their mega valuations. Their coins can also be quickly shuttled across exchanges without liquidity concerns, attracting macro investors.  Why The Correlation? Bitcoin has long been viewed as a store of value asset and a medium of exchange. The coin has a limited total supply of 21 million, and over 90% have been mined. Proponents hold that during a crisis in traditional finance, the coin can be a hedge. This was recently observed following the bank run at Silicon Valley Bank (SVB) and the closure of Signature Bank.  Besides, crypto holders also prefer the coin whenever there are concerns in the industry. Days after the temporary de-pegging of USDC, a stablecoin, Bitcoin prices rose. Meanwhile, Ethereum is comparatively liquid and is becoming deflationary, a reason why a section of its supporters say ETH, its native currency, would become “ultra sound money,” better than BTC and gold.  “a large portion of the Ethereum ecosystem wants ETH to be ultra sound money”pic.twitter.com/3MI2nDHaXe — ultra sound money 🦇🔊 (@ultrasoundmoney) July 5, 2021 Aside from liquidity, Ethereum is the largest and most active smart contracting platform. DeFiLlama data shows that over 50% of DeFi’s total value locked (TVL) is in Ethereum-based dapps. Related Reading: Ethereum Poised To Breach $2,000 Ceiling In Coming Months – Here’s Why The correlation may continue rising in the months ahead as crypto gains mainstream adoption. Macro investors would most likely gravitate to BTC and ETH, lumping them as risk assets as they diversify their portfolios. Regulatory clarity, with the United States Security and Exchange Commission (SEC) chairman saying Bitcoin is a commodity while the Commodity Futures Trading Commission (CFTC), in a lawsuit against Binance and its CEO, Changpeng Zhao, also classifying ETH as a commodity, could further boost this correlation. CFTC says that Bitcoin, Ethereum, and Litecoin are Commodities pic.twitter.com/nSNX2YIYLP — Conor (@jconorgrogan) March 27, 2023 Still, it is yet to be seen how Bitcoin prices will react ahead and after the Shanghai Upgrade on Ethereum in mid-April.  Feature Image From Canva, Chart From TradingView

Bitcoin And Ethereum Correlation At A Staggering 97%, BTC Rally Incoming?

The cryptocurrency market is one of the most exciting and dynamic investment opportunities of our time. It's fast-paced, unpredictable and full of potential. In the last week alone, Litecoin (LTC) has surprised many crypto natives with a remarkable performance week after week. Currently priced at about $90, market watchers predict that LTC could break the $100 mark in days. Shiba Inu (SHIB) has had a rough start to the year, with more predictions pointing to an ongoing bear trend for the once-popular meme coin. However, Orbeon Protocol (ORBN), a newcomer in the crypto space, is setting up for a journey to the moon, with experts predicting a 6000% price increase by the end of the year. 
>>BUY ORBEON TOKENS HERE<<
Litecoin (LTC)
By May 2021, the value of Litecoin (LTC) had reached an all-time high of $412.96, but within six months, Litecoin (LTC) plummeted by more than 50%. 
Litecoin (LTC) serves as a testing ground for improvements to the Bitcoin (BTC) blockchain, and the addition of the Mimblewimble privacy protocol, which aims to make crypto transactions untraceable, is a great addition that will increase adoption.
At the moment, Litecoin (LTC) is hovering around the $90 mark, with experts predicting an incoming price correction for Litecoin (LTC). If the Litecoin (LTC) price corrects, it could drop to about $50. Even so, on-chain data indicated that crypto whales are accumulating Litecoin (LTC) in anticipation of the August halving. 
>>BUY ORBEON TOKENS HERE<<
Shiba Inu (SHIB)
While some coins in the crypto space are performing well despite the bear market, Shiba Inu(SHIB) has been struggling to regain its previous position among the top cryptocurrencies. The reduced demand for riskier assets and the ongoing global economic uncertainty has caused investors to move from projects such as Shiba Inu (SHIB) towards less risky investments such as Bitcoin (BTC), which has impacted the demand for Shiba Inu (SHIB).
Furthermore, the recent surge for Shiba Inu (SHIB) was mainly driven by hype and social media buzz. This has made it difficult for the Shiba Inu (SHIB) coin to maintain its momentum in the face of market volatility and changing investor sentiment.
Moreover, the growing competition from other meme-inspired cryptocurrencies and the increasing scrutiny from regulators and authorities also pose a challenge for Shiba Inu (SHIB). The current price for Shiba Inu (SHIB) stands at $0.00001068.
>>BUY ORBEON TOKENS HERE<<
Orbeon Protocol (ORBN)
The Orbeon Protocol (ORBN) native token, ORBN, has seen an impressive 2713% gain since the start of its presale, with market analysts predicting a potential 6000% return by the end of the presale. 
Orbeon Protocol (ORBN) is a platform that enables users to invest in nascent businesses through fractional means, allowing individuals to invest in their preferred brands for as little as $1. The Orbeon Protocol (ORBN) platform creates and distributes NFTs based on rewards and equity, which can be fractionated accordingly. 
All investment terms are written into the smart contract of the NFT, ensuring transparency for both businesses and users of Orbeon Protocol (ORBN). Also, investors have been protected from rug-pulls thanks to a security mechanism that refunds investors in case the startup fails to fulfill its goals. 
In addition to the investment platform, Orbeon Protocol (ORBN) also offers a wallet that users can use to store their NFTs and an exchange that can be used to swap the digital assets listed on the exchange. 
With an 2713% price gain so far, ORBN has outperformed multiple coins in the market, including top cryptocurrencies, since its launch, and Orbeon Protocol (ORBN) has continued to gain momentum. The success of the Orbeon Protocol (ORBN) presale highlights the potential of the platform and its ability to offer a new, innovative way to invest in nascent businesses.
Find Out More About The Orbeon Protocol Presale
Website: https://orbeonprotocol.com/
Presale: https://presale.orbeonprotocol.com/register
Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

Litecoin (LTC) and Shiba Inu (SHIB) Price Prediction: Orbeon Protocol (ORBN) Set For a 6000% Price Increase In 2023

Crypto market: focus on the performance of AXS, CELO and LTC

Analysis, prices and news regarding the crypto assets Axie Infinity (AXS), Celo (CELO) and Litecoin (LTC)

The Commodities Future Trading Commission (CFTC) thinks Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC) are all securities, according to a new complaint. Earlier this week, the CFTC charged top crypto exchange Binance, its CEO Changpeng Zhao, and the company’s former chief compliance officer Samuel Lim with a long list of regulatory violations, jolting the digital […]
The post CFTC Says Bitcoin, Ethereum and Litecoin Are Commodities in Lawsuit Against Binance and CEO Changpeng Zhao appeared first on The Daily Hodl.

CFTC Says Bitcoin, Ethereum and Litecoin Are Commodities in Lawsuit Against Binance and CEO Changpeng Zhao


                    
                    A U.S. regulator called Bitcoin, Ether, and Litecoin commodities in its court filing against Binance. It did not mention XRP anywhere.
                    XRP (XRP) outperformed its top-ranking crypto rivals over the past 24 hours while reaching the highest price in 10 months. XRP price tags 10-month highOn March 29, XRP's price surged by nearly 15% to $0.58, its highest level in ten months, outperforming Bitcoin (BTC) and Ether (ETH) in the past 24 hours that rose around 4.5% and 2.75%, respectively.XRP/USD daily price chart. Source: TradingViewThe Commodity Futures Trading Commission (CFTC) referred to Bitcoin, Ether, and Litecoin (LTC) as "commodities" in its court filing against Binance. While the U.S. regulatory didn't name XRP, many assumed the token would be categorized as a commodity.Related: Here’s why CFTC suing Binance is a bigger deal than an SEC enforcementThe lawsuit will likely conclude by the end of March, with legal experts believing Ripple has a chance to win. XRP price has rallied 45% month-to-date on similar hopes, including the March 29 price rally, supplemented further by investors' optimistic interpretation of the CFTC court filing.#XRP bucks the market trend with 8% surge to a 5 month high of under $0.50#CFTC's #Binance filing could classify $XRP as a commodity instead of a security as alleged by #SEC in #Ripple vs SEC case@Ripple's CTO argument gains traction and XRP price impacted by case progression pic.twitter.com/eFB28Ehmj0— LaCryptoLycus (@CryptoLycus) March 28, 2023

35% XRP price correction ahead?XRP's price rally brought it closer to the breakout target of $0.60. However, the possibility of a big correction after the SEC vs. Ripple ruling as a "sell the news" event remains.Related: Why is XRP price up today?Technical indicators also show the XRP/USD pair facing the upper trendline of its prevailing rising channel. Thus, a correction toward the lower trendline is now in play, with the downside price target around $0.38 in April, down 35% from current price levels. XRP/USD daily price chart. Source: TradingViewOn a broader timeframe, the rising channel appears like a bear flag, a bearish continuation technical indicator.XRP/USD weekly price chart. Source: TradingViewThe completion of the flag pattern could see XRP price falling to $0.189 by June, down over 65% from current price levelsThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.


XRP price tags 10-month high — Can a 35% pullback be avoided?

In Todays Headline TV CryptoDaily News:

EU Lawmakers vote in favor of payment limits on anonymous crypto wallets.
Lawmakers on two key committees in the European Parliament have voted in favor of imposing limits on payments by unverified crypto users, as part of a large scale overhaul of money laundering laws. The plans, considered alongside measures to forbid businesses from accepting large cash payments and create a new European Union Anti-Money Laundering Agency.
CFTC could force Binance to cease U.S. operations.
The U.S. Commodity Futures Trading Commission could require Binance to cease operations in the U.S. as part of a potential settlement. The regulator sued the crypto exchange and its founder Changpeng Zhao for allowing U.S. citizens to trade derivatives and for willful evasion of the country’s laws.
Binance's BUSD stablecoin suffers $500M outflow.
Binance USD, a stablecoin pegged to the U.S. dollar, endured over $500 million in outflows in the roughly 24 hours since a U.S. lawsuit was filed against Binance and CEO Changpeng Zhao, data shows.
BTC/USD gained 0.5% in the last session.
The Bitcoin gained 0.5% against the Dollar in the last session. The Ultimate Oscillator is giving a positive signal. Support is at 25747.6667 and resistance at 28717.6667.
The Ultimate Oscillator is currently in the positive zone.

ETH/USD skyrocketed 3.4% in the last session.
The Ethereum-Dollar pair skyrocketed 3.4% in the last session. The MACD is giving a negative signal, going against our overall technical analysis. Support is at 1640.0567 and resistance at 1817.3367.
The MACD is currently in the negative zone.

XRP/USD exploded 9.9% in the last session.
The Ripple-Dollar pair rose 9.9% in the last session after gaining as much as 10.8% during the session. The MACD is giving a positive signal, which matches our overall technical analysis. Support is at 0.4237 and resistance at 0.5164.
The MACD is currently in the positive zone.

LTC dropped 0.8% against USD in the last session.
The Litecoin fell 0.8% against the Dollar in the last trading session. The ROC is giving a negative signal. Support is at 84.3267 and resistance at 96.1667.
The ROC is giving a negative signal.

Daily Economic Calendar:
US MBA Mortgage Applications
The MBA Mortgage Applications released by the Mortgage Bankers Association presents various mortgage applications. It is considered as a leading indicator of the U.S Housing Market. The US MBA Mortgage Applications will be released at 11:00 GMT, the US EIA Crude Oil Stocks Change at 14:30 GMT, Germany's Gfk Consumer Confidence Survey at 06:00 GMT.
US EIA Crude Oil Stocks Change
The EIA Crude Oil stockpiles report is a weekly measure of the change in the number of barrels in stock of crude oil and its derivates, released by the Energy Information Administration. 
DE Gfk Consumer Confidence Survey
The GfK Consumer Confidence is a leading index that measures the level of consumer confidence in economic activity, making it an indicator of consumer spending.
FR Consumer Confidence
The Consumer Confidence is a leading index that measures the level of consumer confidence in economic activity.  The French Consumer Confidence will be released at 06:45 GMT, Japan's Foreign Bond Investment at 23:50 GMT, Japan's Foreign Investment in Japan Stocks at 23:50 GMT.
JP Foreign Bond Investment
The Foreign Bond Investment refers to bonds issued in a domestic market by a foreign entity in the domestic market’s currency.
JP Foreign Investment in Japanese Stocks
Securities investment referrers to bonds issued in a domestic market by a foreign entity in the domestic market’s currency. 
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Binance BUSD Suffers $500M Outflow, Crypto Daily TV 29/3/2023

A well-known crypto trader took to Twitter earlier this week to share his opinion about some of the altcoins he is considering trading. According to the post, the trader believes there is rather slim pickings when it comes to most of the Binance altcoins, but believes that JOE, Mask Network (MASK), and Litecoin (LTC) are […]
The post Crypto Trader Believes MASK’s Price Could Reach $8.7 Very Soon appeared first on Coin Edition.

Crypto Trader Believes MASK’s Price Could Reach $8.7 Very Soon

As the crypto landscape shifts gears, Cardano (ADA) and Litecoin (LTC) are quietly making gains, yet their accomplishments are dwarfed by the staggering 2713% return of the revolutionary Orbeon Protocol (ORBN). This decentralized investing platform is transforming the industry with its commitment to speed, affordability, privacy, and security in users’ financial transactions. With the value […]

Orbeon Protocol (ORBN) 2713% Return Outshines ADA, LTC Paltry Gains

In at least two references made in the Binance lawsuit, CFTC recognized that LTC was a commodity The MVRV Ratio indicated that most LTC holders will realize profits on their sales One of the biggest beneficiaries of the bull cycle of 2023 has been Litecoin [LTC]. The coin of the proof-of-work (PoW) chain has logged […]

Litecoin [LTC] gets shot in the arm from regulators, braces for next move

Litecoin (LTC) has slipped below $90 in another futile approach at the $100 milestone. Will LTC lose the $80 support again?
The post Litecoin Miners Are Piling on Sell-Pressure, Could This Cause LTC to Drop Below $80? appeared first on BeInCrypto.

Litecoin Miners Are Piling on Sell-Pressure, Could This Cause LTC to Drop Below $80?

The Commodities Futures Trading Commission (CFTC) has declared ethereum and litecoin to be commodities, in addition to bitcoin.

Bitcoin, Ethereum and Litecoin Are Commodities Says CFTC


                    
                    Despite four major banks imploding recently, Bitcoin remains resilient, but questions persist over the long-term sustainability of its ongoing rally. 
                    On March 19, the United States Federal Reserve announced that it had entered a joint program with several major central banks — including the European Central Bank, the Bank of Canada, the Bank of England, the Bank of Japan and the Swiss National Bank — to support U.S. dollar cash flow and alleviate strains in global funding markets. Moreover, Fed Chair Jerome Powell said swap lines — agreements between two or more central banks to maintain a crucial liquidity backstop and ease strains in global funding markets — will remain active until at least the end of April. This could result in the Federal Reserve slowing its rate hikes, which have been cited as a contributing factor to the ongoing banking crisis.Since the beginning of March 2023, several major financial entities, including Silvergate Bank, Silicon Valley Bank (SVB), Signature Bank and Credit Suisse, have collapsed.Despite these developments, Bitcoin (BTC) has rallied, reaching a high of $28,500 on March 24, its highest level since the crypto crash of June 2022. After a slump in March, where the flagship cryptocurrency dropped below $20,000, Bitcoin seems to have resumed its 2023 rally. Since January, when Bitcoin traded at around $16,500, the digital asset has gained an impressive 72.73%. Of the roughly 4,600 days of Bitcoin as a tradable asset, investors have experienced 4,065 profitable days, challenging the instability-driven narrative surrounding the crypto ecosystem. The banking crisis explainedIn recent weeks, the global banking industry has been rocked by a slew of events, sending shockwaves through financial markets. In Europe, Credit Suisse collapsed and had to be “rescued” by rival bank UBS. This development did not surprise those following Credit Suisse’s monetary and legal troubles, which have been widely reported for months. The Swiss National Bank and the Swiss Financial Market Supervisory Authority agreed to back up Credit Suisse with an emergency loan of 50 billion francs ($54.5 billion) if necessary. UBS agreed to purchase Credit Suisse for $3.25 billion, which is less than half its market value just days before, but much higher than the initial offer of $1 billion, which Credit Suisse declined.Meanwhile, the United States faces its own banking crisis across the Atlantic. Several banks, including SVB, Signature Bank and Silvergate Bank, have collapsed recently, prompting the Federal Reserve and the government to shore up depositors. The banks mentioned above all faced large-scale bank runs. These events typically occur when a bank loses the confidence of its customers, resulting in mass withdrawal requests.Recent: Justin Sun vs. SEC, Do Kwon arrested, 180M player game taps Polygon: Asia ExpressIn response to these developments, the Fed has used the Bank Term Funding Program (BTFP) to inject additional liquidity into the banking system and cover deposits, with politicians reassuring the public that the banking system is secure. While these actions have attempted to restore confidence in the banking system and financial markets, some analysts warn they may only provide a short-term solution. A recent study has shown that the U.S. banking system is highly vulnerable, with many banks potentially becoming technically insolvent during a bank run. Assuming the worst-case scenario of 100% uninsured deposits withdrawn, the study’s authors note that over 1,600 U.S. banks could collapse overnight. What’s even more head-scratching is the researchers suggest that even if just 30% of uninsured deposits were to be withdrawn, 106 banks would collapse. The numbers seem to be in favor of cryptoBitcoin has been on a roll, gaining more than 13% over the past week and trading at $28,430 at the time of writing. The troubles facing the traditional banking system have raised concerns about trust in traditional assets, with more money seeming to flow into Bitcoin. According to data from Coinglass, open interest in Bitcoin futures reached $12 billion over the weekend, a yearly high pointing to renewed interest in the flagship cryptocurrency. Bitcoin futures open interest. Source: CoinglassBitcoin open interest refers to the total number of outstanding positions in Bitcoin futures contracts that have not been closed or settled. It is a measure of market activity and interest in Bitcoin futures trading. When open interest is high, it suggests a lot of investor interest in BTC and vice versa.Meanwhile, most altcoins are also experiencing a pump, with most of the top ten cryptocurrencies by market cap — XRP (XRP), Cardano (ADA), Ether (ETH), Solana (SOL) and Litecoin (LTC) — posting gains of 5–20% in the past week. The renewed interest in crypto comes amid growing concerns over inflation, increasing global debt levels, and the unprecedented monetary and fiscal policies adopted by central banks and governments worldwide. What lies ahead for crypto?With the ongoing fiscal momentum surrounding the crypto sector showing no signs of abating, $30,000 has continued to serve as a significant hurdle for Bitcoin. However, if the digital asset approached or breached this level, many bulls could rake in short-term profits for themselves, potentially causing the cryptocurrency to dip again. In an interview with Barron’s, Alex Thorn, head of research at digital asset group Galaxy, said we could be witnessing a seminal moment for Bitcoin. He believes that as the fractionally reserved banking system teeters on the brink, “Bitcoin’s resilience, predictability, and relative safety stands in stark relief.”Moreover, the Crypto Fear & Greed Index hit its highest index score this year, recording 66 on March 20. These levels have not been seen since Bitcoin posted its all-time high in November 2021. As of March 24, the index is sitting on a rating of 61, placing it firmly in the “Greed” territory. The Crypto Fear & Greed Index. Source: Alternative.meThe Crypto Fear and Greed Index aims to numerically present the current “emotions and sentiments” toward Bitcoin and the cryptocurrency market, with the highest score being 100. The last time the index recorded a score above 66 was on Nov. 16, 2021, just days after Bitcoin’s all-time high of $69,000.Chris Bradbury, CEO of decentralized finance platform Oasis.app and former lead product manager for MakerDAO, told Cointelegraph the latest rally is related to banking collapses and the broader fear in the U.S. and European banking sector, which saw vast amounts of value wiped out of bank stocks. He added:“It’s unlikely we will see a sustained rally directly from this; however, we have started to see activity on-chain picking back up since the start of the year and a little bit more optimism more generally in the markets.”Other observers of the crypto space think the recent pump is explained by factors that are less generous to the hypothesis of crypto as a safe haven and alternative to the traditional financial system.Crypto researcher and software engineer Molly White recently noted that, among other things, Bitcoin is experiencing low liquidity and could also serve as an exit for traders nervous about stablecoins. As USD Coin (USDC)-to-dollar off-ramps were limited early in the banking crisis, many decided to move to different crypto assets like Bitcoin, White argued.Recent: To be or not to be: Ethics, democracy and morality in the nascent metaverseShe further stated that influential people stand to benefit from an increased Bitcoin price. Ex-Coinbase chief technology officer Balaji Srinivasan made a $2 million bet that Bitcoin will hit $1 million in the next 90 days based on a belief that incoming liquidity from the Fed will “hyperinflate the dollar.”As White posited, “If he owns a lot of Bitcoin already, or has OTM [out of the money] long positions, $3 million (counting the two bets plus the $1 million in tweet payments) would be a small price to pay if he can get BTC to tick up a few percentage points.”As we head into a future plagued by growing financial uncertainty, it will be interesting to observe how the crypto market wades through the macroeconomic uncertainty permeating the global economy.

Adoption and nerves — Crypto pumps amid banking crisis

Orbeon Protocol (ORBN)! This project, in Stage 12 of its public presale, has currently gained the attention of worldwide investors and experts.

Bitcoin (BTC) And Litecoin (LTC) Slipping? Meet The Orbeon Protocol (ORBN) Presale!

The post Market Watch: Ripple (XRP), Binance Coin (BNB), Litecoin (LTC), and Orbeon Protocol (ORBN) Primed for Significant Gains appeared first on Coinpedia Fintech News
Ripple (XRP), Binance Coin (BNB), Litecoin (LTC), and Orbeon Protocol (ORBN) are poised for substantial gains in the dynamic cryptocurrency landscape. Orbeon Protocol (ORBN), a decentralized investment platform enabling companies to issue fractionalized, equity-based NFTs to investors, has experienced a remarkable 2713% rally, with its token price soaring from $0.004 to $0.1125, now nearing the …

Market Watch: Ripple (XRP), Binance Coin (BNB), Litecoin (LTC), and Orbeon Protocol (ORBN) Primed for Significant Gains


                    
                    In twelve hours preceding the indictment, almost $1.5 billion of crypto left several centralized platforms, according to Thanefield Capital.
                    Right before the exchange platform Binance and its CEO Changpeng Zhao have been accused of regulatory violations by the United States Commodity Futures Trading Commission (CFTC), almost a billion dollars in crypto reportedly left the platform’s wallets. According to the Thanefield Capital data research, a few hours before the Binance CFTC indictment, which occurred at 3 pm UTC on Monday, March 27, an unusually large amount was withdrawn across centralized exchanges. In 12 hours preceding the indictment, almost $1.5 billion left such platforms as Binance, Kraken, Coinbase and Bitfinex. More than half of it, or $850 million, was withdrawn from Binance. Just one hour after the announcement, Binance saw an additional $240 million withdrawn. According to the data from Nansen, in the past 24 hours, more than $400 million were withdrawn only in Ethereum-based funds. However, Binance still holds $63.36 billion worth of cryptocurrency assets: this includes over $2 billion worth of USDT, $17 billion worth of Bitcoin, and $8.1 billion worth of Ether. CFRC filed a suit against Binance and CZ in the U.S. District Court for the Northern District of Illinois. According to the Commission, that’s been investigating Binance’s business since 2021, the company failed to meet its regulatory obligations by not properly registering with the derivatives regulator. Binance allegedly conducted transactions in Bitcoin, Ether and Litecoin for U.S. citizens since at least 2019.Related: 7 details in the CFTC lawsuit against Binance you may have missedThe largest crypto exchange in the world has also been under investigation by the Internal Revenue Service (IRS) and federal prosecutors, who have examined its adherence to Anti-Money Laundering rules. The Securities and Exchange Commission (SEC) conducts its own inquiry on whether Binance allowed U.S. traders to access unregistered securities. Changpeng Zhao has already rejected allegations from the CFTC, arguing that the crypto exchange “does not trade for profit or 'manipulate' the market under any circumstances.”Magazine: Web3 Gamer: D&D nukes NFT ban, ‘Kill-to-Earn’ zombie shooter, Illuvium: Zero hot take

Binance saw $850M withdrawal prior to CFTC indictment: Data


                    
                    THORChain has once again halted its network, taking action as a precautionary measure while verifying reports on a potential network vulnerability.
                    Cross-chain liquidity protocol THORChain has paused its network due to new claims of a potential network vulnerability.THORChain took to Twitter on March 28 to announce that it has halted all trading amid reports on a potential vulnerability with a THORChain dependency that may affect the network. The decision was taken as a precautionary measure while the reports are verified, THORChain said.The announcement came shortly after social media reports indicated that THORChain’s liquidity platform Nine Realms and the dedicated security team THORSec received “credible reports” of a potential vulnerability affecting THORChain. The THORChain network has reportedly been subsequently halted globally.**THORChain Globally Halted**@ninerealms_cap and THORSec have received credible reports of a potential vulnerability affecting @THORChain. Out of an abundance of caution, steps have been taken to halt THORChain globally. Stand by for more information.— Pluto (9R) ⚡️ (@Pluto9r) March 28, 2023

“Network preemptively paused by NO's to investigate the report; updates will follow,” Nine Realms tweeted.Amid the news, THORChain’s native token Rune (RUNE) has tumbled about 5%, according to data from CoinGecko. At the time of writing, the token is trading at $1.32, down 18% over the past 30 days.Founded in 2018, THORChain is a decentralized cross-chain liquidity protocol that allows users to swap assets between different blockchain networks without using centralized exchanges. THORChain’s settlement layer currently offers swaps between eight chains, including Bitcoin, Ethereum, Binance Chain, Avalanche, Cosmos Hub, Dogecoin, Litecoin and Bitcoin Cash.Related: DeFi exploits and access control hacks cost crypto investors billions in 2022: ReportThe latest halt on the THORChain’s network is far from being the first one. The network was paused in October 2022 as a result of a software bug causing “non-determinism between individual nodes.” The network was subsequently resumed and became fully functional after 20 hours of maintenance.In 2021, THORChain also halted its network after the protocol suffered a breach, with hackers stealing $7.6 million in crypto assets.Magazine: Unstablecoins: Depegging, bank runs and other risks loom

THORChain mainnet halted amid new vulnerability reports


                    
                    Within the 74-page complaint, the CFTC has labeled Ether, Binance USD, Tether and Litecoin as commodities along with Bitcoin, and made a few other startling claims. 
                    The surprise lawsuit from the Commodity Futures Trading Commission (CFTC) against crypto exchange Binance sent shock waves across the markets today. In addition to allegations of market manipulation and a lack of compliance effort, the regulator has also accused the exchange of not cooperating with investigative subpoenas and obscuring the location of its executive offices. Binance has rejected many of the allegations.However, the devil is in the details when it comes to the 74-page complaint. Here are a few interesting snippets you may have missed.Tokens labeled as commoditiesContrary to assertions by the United States Securities and Exchange Commission chief Gary Gensler on crypto assets, the latest CFTC lawsuit has labeled Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Tether (USDT) and Binance USD (BUSD) as commodities.Earlier this year, the SEC argued that BUSD is an “unregistered security” in its Wells notice against Paxos. Gensler on many occasions has also argued that virtually all crypto assets are securities, with the exception of Bitcoin.BTC: commodityETH: commodityLTC: commodityUSDT: commodityBUSD: commodity    - the CFTC pic.twitter.com/Y3qi6vDmTA— scott➕ (@scott_lew_is) March 27, 2023

Sheila Warren, CEO of the Crypto Council for Innovation said the statement is a “powerful shot across the bow of the SEC” and could have significant implications for the industry and for which regulator will have ultimate authority. Meanwhile, Coinbase Chief Legal Officer Paul Grewal criticized the lack of agreement between the two U.S. regulators, stating: “A security can apparently also be a commodity, except when it's not. And it depends on which regulator you ask, and when. If you're confused, you are not alone. Is this really the best American law has to offer?”CZ’s phone was accessedBinance CEO Changpeng Zhao has been named as a defendant and has been repeatedly singled out throughout the complaint. Interestingly, the CFTC stated it was been able to gather evidence by collecting Signal text chains and group chats from “Zhao’s telephone.” Many are now wondering how this was possible. How do they have acces to CZ phone? pic.twitter.com/FWMeKVCGSZ— Martin Krung  (@martinkrung) March 27, 2023

“Zhao has communicated over Signal with the auto-delete functionality enabled with numerous Binance officers, employees, and agents for widely varying purposes,” said the CFTC.Terrorist activity accusationsAnother startling allegation from the commodities regulator accuses the firm's employees of knowing that its platform had facilitated "illegal activities."“Internally, Binance officers, employees, and agents have acknowledged that the Binance platform has facilitated potentially illegal activities.”It specifically referred to a February 2019 incident in which former compliance chief Samuel Lim received information “regarding HAMAS transactions.” According to the filing, Lim explained to a colleague that terrorists usually send “small sums” as “large sums constitute money laundering.”Excerpt from CFTC lawsuit. Source: District Court of Northern District of IllinoisOne man at the topAccording to the complaint, the CFTC has alleged Zhao owned and controlled dozens of entities that operate the Binance platform as a “common enterprise.” It cited an example of the CEO personally approving minor office expenses and paying for company services such as Amazon Web Services with his own personal credit card. Excerpt from CFTC lawsuit. Source: District Court of Northern District of IllinoisVIP program perksMeanwhile, a Binance “VIP” program with preferential rates and perks has also been scrutinized by the regulator. In addition to allegedly encouraging customers to use virtual private networks (VPNs) to access the platform, the CFTC also alleged that part of the perks for VIP customers was that they were given “prompt notification” of any law enforcement inquiry about their account.Excerpt from CFTC lawsuit. Source: District Court of Northern District of Illinois“Zhao wanted U.S. customers, including VIP customers, to transact on Binance because it was profitable for Binance to retain those customers,” it alleged.Ignoring U.S. regulatory requirementsThe CFTC also accused Binance of being aware of U.S. regulatory requirements but ignoring them and making “deliberate, strategic decisions to evade federal law.”The filing goes back to internal messages between Binance executives in 2018 regarding its strategy for the U.S. exchange and complying with sanctions imposed by regulators for the global exchange. Excerpt from CFTC lawsuit. Source: District Court of Northern District of IllinoisFines and injunctionsTowards the end of the document, the commodities regulator said it is seeking monetary penalties, disgorgement of any trading profits, salaries, commissions, loans, or fees gained from their purportedly wrongful actions, along with paying penalties to resolve the investigations. It also orders a permanent injunction against further violations. 15/ The CFTC is also asking for clear action including disgorgement, civil monetary penalties and permanent trading and registration bans. Following such a complaint, will Binance be permitted to operate again in the US or have US clients again?— Henri Arslanian (@HenriArslanian) March 27, 2023

Related: Binance CEO CZ rejects allegations of market manipulationThe CFTC “doesn’t waste its time on jabs — it goes straight for the knockout,” said Warren from the Crypto Council for Innovation.Binance has already rejected a number of allegations and claims from the commodities regulator, hinting that a more in-depth response is incoming. On March 28, CZ responded to what he termed an “unexpected and disappointing civil complaint,” stating that the company has cooperated with the CFTC for the past two years. In comments to Cointelegraph, a spokesperson from Binance has maintained that the exchange maintains country blocks for U.S. citizens, regardless of where they live in the world. “Consistent with regulatory expectations globally, we have implemented a robust ‘three lines of defense’ approach to risk and compliance, which includes, but is not limited, to:Ensuring mandatory KYC for all users worldwideMaintaining country blocks for anyone who is a resident of the USBlocking anyone who is identified as a US citizen regardless of where they live in the worldBlocking for any devices using a US cellular providerBlocking log-ins from any US IP addressPreventing deposits and withdrawals from US banks for credit cards”

7 details in the CFTC lawsuit against Binance you may have missed

Today, the U.S. Commodities and Futures Trading Commission (CFTC) filed a lawsuit against crypto exchange Binance and its CEO, Changpeng “CZ” Zhao. The regulator is accusing the executive and the company of allegedly violating trading rules in the country. Related Reading: Litecoin Dubbed A Commodity By CFTC Could Reignite Digital Silver Narrative In an official […]

Crypto Giant Binance In Hot Water: CEO Responds To Trading Violation Claims

Litecoin was deemed a commodity today in a CFTC lawsuit filing against Binance. With the altcoin now potentially safe from further scrutiny from the SEC, a new digital silver narrative could take shape. Here’s why. Litecoin Officially Labeled A Commodity By US CFTC The crypto market bled more than $50 billion in market cap today, […]