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 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.
Read more on Bitcoin Weekly price update
- ‘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.
Read more on What to Expect for Ripple?
- Crypto Whales Accumulate Ethereum as ETH Price Moves to New Highs
Data shows that cryptocurrency whales are rapidly accumulating Ethereum’s ether, the second-largest cryptocurrency by market capitalization, as the price of the cryptocurrency steadily moves up to new highs.
Read more on Ethereum bull run