March 10 Daily report: Bitcoin Corrects From $55K, ‘Game changer’ for Maker and Ethereum, JPMorgan featuring MicroStrategy and Square, Ripple and XRP enjoy the trust of many banks and Crypto Whales Accumulate Ether

Bitcoin Corrects From $55.8K, ‘Game changer’ for Maker and Ethereum, JPMorgan featuring MicroStrategy and Square.

Bitcoin Corrects From $55K –BuyUcoin: The biggest news stories of the day

On a busy day for news, here are the standout stories from the world of crypto in our best of the day’s segment.

Bitcoin Corrects From $55K

Bitcoin price extended its rise above the $55,000 resistance against the US Dollar. BTC is correcting lower from $55,800 and it could find bids near the $52,500 zone. There was an upside extension in bitcoin above the $54,500 resistance zone. BTC even cleared the $55,000 resistance and settled well above the 100 hourly simple moving average.

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‘Game changer’ for Maker and Ethereum with Optimism Dai bridge announced

The Dai stable coin produced by decentralized lending protocol MakerDAO is getting some speed and fee enhancements with its forthcoming upgrade on layer-two. Ethereum scaling solutions provider Optimism will provide the technology as announced on the MakerDAO forum on March 9.

JPMorgan launching ‘crypto exposure basket’ featuring MicroStrategy and Square

JPMorgan Chase has designed a new debt instrument that provides investors direct exposure to a basket of crypto-focused companies, according to a new filing with the United States Securities and Exchange Commission, or SEC.

Ripple and XRP ‘Enjoy the Trust of Many Banks as a Model for CBDCs’

Ripple and XRP enjoy the trust of many banks as a model for CBDCs because it is highly centralised and is based on a permissioned network where only certain network nodes can validate transactions, as opposed to decentralised and permissionless Bitcoin and Ether, says CPA Australia Report.

NFT-related altcoins hit new highs after Bitcoin price rallies to $53K

Learn About NFT Projects Reaching All-time High and Bitcoin rallying Above 50K!

Bitcoin is widening every day over the key $52,000 signals that bulls are trying to secure an all-time high again. On 8 March, there was a flow of activities on the cryptocurrency market, which brought the vast majority of the top tokens on International Women’s Day.

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Bitcoin is back above $50K

A new wave of optimism from Bloomberg’s senior commodity strategy strategist Mike McGlone was followed by Bitcoin’s (BTC) recount of above $50,000. It suggested that Bitcoin pushes gold as a store of value in its investor portfolios.

Cointelegraph Markets and TradingView data indicates that the BTC price increased in early March 8 to $53,300 when it was written from a low of $49,272. Now that Bitcoin price is closer than $52,000 a day, these unwilling traders can open up new long positions.

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              BTC/USDT 4-hour chart. Source: TradingView

Recent analysis shows that while professional traders are reluctant to open new BTC long positions because of an increased dollar and rising Treasury returns, large corporations purchase BTC at an accelerated rate which results in heavy exchange outflows.

Read more on Tesla and JP Morgan on Bitcoin

NFT’s Double-Digit gain

As many of the best projects reached new all-time highs on Monday, Altcoins moved considerably further. Projects such as Ultra (UOS), Theta (THETA) and Enjin (ENJ) have all been successful in double-digit gains during today’s business sessions, which reached new annual levels.

THETA/USDT vs. UOS/USDT vs. ENJ/USDT 4-hour chart. Source: TradingView

The UOS price grew 21% to reach a record $0.452, due to the growing excitement around the launch of the main net project, allowing cross-chain and NFT capabilities. On the long-awaited hard fork on 10 March, Theta, a blockchain-based visual streaming platform, also reached an all-time high of $ 4.98.

Theta was strong throughout February, as it was supported by the introduction of streaming NFTs and an announced partnership, with the Theta blockchain validator programme joining Sony Europe. In addition, Enjin (ENJ), which started to build a broad NFT ecosystem, reached an all-time high of $ 1.76 on Monday 5, 2014.

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The total market cap is lifted through the market-wide rally

Recent developments for Ethereum (ETH), as a community prepares to implement the Berlin upgrade on 14 April, have contributed to a rally of 8% in Ether. The best performance in the top ten is Chainlink (LINK) which has increased 12% to $31, while DOGE is up 15.73% and trading is up at $0.58.

The total market capitalization for the cryptocurrency is $1.65 billion and the dominance rate of Bitcoin is now 60.4%. All together “2-week highs for the BTC price” is seen now in March 2021.

Cointelegraph Market and Tradingview data on Tuesday showed that BTC/USD hit local peaks of $54,500. The latest attempt to break out of its corridor on the side was further consolidated when it was written.

In the midst of heavy volatility, the daily retracing was $53,500 – still more than critical. According to Cointelegraph, analysts had $52,000 in the sand for the next step of the Bitcoin Bull Race. While the weekend brought a healthy upside, Bitcoin still had strong support for $50,000 as the week began.

Read more on Crypto market value tops $1 trillion

March 9 Daily Report: Paypal confirms Crypto custody with Curv, Bitcoin Rallies above $52K, Ripple Deal with MoneyGram Officially Over, VeChain Hits All-Time High and Uniswap Airdrop Value Reach $13,000!

BuyUcoin: The biggest news stories of the day

On a busy day for news, here are the standout stories from the world of crypto in our best of the day’s segment.

PayPal Confirms Crypto Custody Firm Curv Offilically & that It is Acquiring the same.

PayPal has officially confirmed that it is going to acquire Israel-based cryptocurrency custody firm Curv. Last week, several media outlets cited rumors that the acquisition talks were still in the early stages. However, PayPal has now made it official and revealed that it plans to utilize the new purchase to expand and accelerate its initiative to support crypto and digital assets.

Bitcoin Rallies above $52K

Bitcoin price rallied over 5% and it even broke the $52,000 resistance against the US Dollar. BTC is now above $53,000 and it is likely to continue higher towards $54,500 and $55,000. Yesterday, we saw a fresh increase in bitcoin above the $50,000 resistance zone. BTC remained in a bullish zone and it was able to extend gains above $52,000 after a short-term downside correction.

Ripple Deal with MoneyGram Officially Over

Ripple still says the two ex-partners are “committed to revisiting” a relationship in the future. Embattled blockchain software company Ripple says it has ended its partnership with money transfer service MoneyGram. MoneyGram’s move was part of a larger trend in the industry—exchanges like Binance and CoinbaseMoneyGram’s move was part of a larger trend in the industry—exchanges like Binance and Coinbase.

VeChain Hits All-Time High

VeChain has entered price discovery mode, but technical indexes show an ambiguous outlook ahead. VeChain’s price has risen by more than 75% over the past week to reach a new record high of $0.0643. While some technical indicators call for higher highs, others suggest that VET sits in overbought territory.

Uniswap Airdrop Value Reaches $13,000 For Those That Didn’t Sell Early

Defi platform Uniswap has exploded in popularity since its debut last year, which has been to the benefit of UNI token holders – especially those who got them completely free for being among the earliest users of the platform. The unicorn logo of Uniswap is appropriate. In the business world, a unicorn is a startup with explosive growth that quickly propels it to more than $1 billion in value.

Uniswap becomes the first Defi token to Crack the Crypto top 10 list

The governance token of Uniswap has become the first token for Defi to be ranked among the top ten capitalised crypto assets.

Uniswap becomes the first Defi token to Crack the Crypto top 10 list -The governance token of Uniswap has become the first token for Defi to be ranked among the top ten capitalised crypto assets. This week, UNI ranked the worlds 8th largest asset in the world with a market cap of 17.7 billion dollars as a result of speculation for the up-coming revamping of V3. Uniswap’s indigenous leading decentral bill of trade has grown by close to 50%.

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Uniswap’s UNI Breaks $34

UNI has found support near the $20.00 standard after a significant downside correction from well above $30.00. It sold as low as $18.68 and recently began a new growth. It broke a lot of barriers to enter a positive zone of around $25.00.

The resistance of 28,00 dollars and the 100 simple moveable average were significantly above (4-hours). In the 4 hour chart of the UNI/USD pair, a break was also made up of a key bearish trend at $28.00. The bulls were even higher than the resistance of $32.00.

A new all-time high is around $34.50 and the price appears to increase even higher. Immediate resistance is close to 36.50 dollars. It is near the 1.236 level of retracing the fibres down from 33.17 dollars to 18.68 dollars.

The next major resistance is close to $40.00. The next big step shortly could be $42.00 for bulls. The downward trend from $33.17 high to $18.68 low is near the 1,618 Fib retracement level.

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The trade volume of Uniswap

Messari now ranks UNI behind Tether as the second-largest asset in Ethereum, with almost 50% of the capitalization defeating Chainlink. On 5 March, UNI ran into the top 10 and became DeFi’s first indigenous token. According to CoinMarketCap’s historic snapshots, in 24 hours, UNI’s capitalization grew from US$8.8 billion on 4 March to US$14.7 billion.

UNI prices are currently consolidating nearly the all-time high yesterday above 34 dollars, the last trade token being 33.9 dollars.

UNI tokens were airdropped to liquidity providers proportionally to Uniswap’s first token distribution and a further 400 tokens had been sent to every wallet which interacted with DEX by September 2020. 400 UNI are worth $13,560.

Uniswap’s V3 upgrade

UNI’s surge is also being speculated that Uniswap’s upgrade to V3 might not be too far away, with Yearn Finance developer Andre Cronje speculating on 4th March that Uniswap lead developer Hayden Adams has recently been increasing social network activity, which could suggest that the new version will be short.

Cronje’s post came when Adams created a Twitter survey asking his followers to read “Unitedwap v3 details” announcements. Replying to the tweet of Cronje, Adams said that “pls delete” may give significant announcements about further raising suspected Uniswap.

The entry into the top 10 of UNI’s cryptography is a record month for trade trading in the trade with four consecutive trading records in February for weekly trade in Uniswaps – culminating in a $31.9 billion monthly, all-time high.

Uniswap seems to have finished with the volume of weekly records, at a volume of 6.4 billion dollars for seven days, down 25 per cent over 8.6 billion dollars last week. Uniswap still accounts for half of all trade in Ethereum powered DEXes, notwithstanding its volume tracking.

Read more on Defi takes the Center Stage

March 8, 2021, Daily Crypto report: Ethereum price peaks again, Bitcoin is above $50K, Uniswap surges 50% in one week, India’s crypto ban is uncertain and Mark Cuban sees $1 written in Dogecoin.

BuyUcoin: The biggest news stories of the day. Ethereum price peaks again, Bitcoin is above $50K.

On a busy day for news, here are the standout stories from the world of crypto in our best of the day’s segment.

Ethereum price peaks again.

Ethereum (ETH/USD) came off early in today’s Asian session as the pair depreciated to the 1709.96 area after trading as high as the 1753.81 area earlier in the Asian session. Stops were elected above the 1751.20 area during the ascent, representing the 23.6% retracement of the depreciating range from 1836 to 1725.

Indian Government response to cryptocurrency!

Nirmala Sitharaman, the Finance Minister, has hinted that the Centre might not impose a blanket ban on digital currencies in the country.

Indian Government response to cryptocurrency – Nirmala Sitharaman, the Finance Minister, has hinted that the Centre might not impose a blanket ban on digital currencies in the country; she says the government is willing to experiment with new technologies.

What can be a huge relief for the country’s cryptocurrency holders? As the Minister for Finance, after discussions with the Reserve Bank of India (RBI) and cabinet members have been finalised, the call for cryptocurrencies will be made.

“There are many negotiations and discussions with the Reserve Bank of India about cryptocurrency. RBI will ask what form of non-official cryptocurrency is planned and how this is regulated. We wish to ensure, however, that a window is made available in the crypto world for all kinds of experiments; “
she told IBLA townhall of CNBC-TV18.

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