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BeInCrypto presents our daily morning roundup of crypto news and market changes that you might have missed while you were asleep.
Bitcoin (BTC) Update
Bitcoin (BTC) managed to close a 3.3% candle on March 29. It’s continuing to climb during early trading hours today adding another 1% to trade at $58,138.
At the moment, BTC is a critical confluence of resistance levels. There is a horizontal resistance made up of the range highs as well as an ascending line from a channel that BTC slipped out of on March 22.
If BTC can break through these resistances and reclaim the ascending channel, it’s likely to move above the current all-time high of $61,300.
Altcoin Movers
The top-10 cryptocurrencies by market cap saw no shift in rank over the past day. However, Cardano (ADA) is creeping back up to close in on Tether (USDT). ADA is less than $2 billion in market cap away from reclaiming the #4 spot.
Holo (HOT) has been on a tear in the past 24 hours. CoinMarketCap is reporting that the token is up nearly 60% on the day. Since the beginning of 2021, HOT has gained a massive 2,700%
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Will Crypto Volatility Crunch Precede an Explosive Move for BTC and ETH?
Quantum Computers Break Encryption in China But Far From Cracking Bitcoin
AscendX (BTMX) was yesterday’s big loser and is continuing the trend today. BTMX is down another 24% on the day to trade at just under $1.60.
In Other Crypto News
- On March 29, global payments company Visa announced the use of Circle’s USD Coin to settle transactions on its network. Visa is launching a pilot program with the Crypto.com platform, which will settle payments over the Ethereum network.
- Non-fungible tokens (NFT) continue to gain ground in the world of sports. New York Mets player Pete Alonso is looking into releasing a limited edition NFT to raise funds. The launch will take place on the BlockParty platform on March 30.
- The Dubai Financial Services Authority published a consultation paper where it proposes different elements to regulate security tokens. An important part of the paper on regulations is the definition that the DFSA is giving on security tokens. These are classified as “tokens that provide rights and obligations akin to specified investments under the Regulated Activities Order.
