This is NOT financial advice
Market Analysis
- BTC dipped down below $8,000 levels, reaching a low of $7,700 before rebounding to $7,925
- I would be weary of going long, as this looks like a fake breakout with it’s low volume, but it’s too early to be certain
Daily News
- Coinbase Announces Support for Ethereum ERC20 Tokens
https://www.ccn.com/coinbase-announces-it-will-add-erc20-support/
Coinbase announced today their intention to support the Ethereum ERC20 technical standard in the coming months. However, they are treading cautiously on the decision to add new coins. Since Coinbase is not a licensed broker, at least not yet, it cannot trade instruments that qualify as securities. The SEC is still conducting dozens of investigations concerning initial coin offerings (ICOs) and the regulator seems to be gathering information in an effort to make a ruling on when a crypto token is a security.
This is reflected in the market sentiment as historically, Coinbase announcements have caused huge retail influxes of retail investors, erratic price swings, and even allegations of market manipulation. But prices are down across the board today and there has been very little reaction to Coinbase’s momentous announcement.
- Twitter Will Ban ICO Ads Starting Tomorrow
https://www.coindesk.com/twitter-will-ban-crypto-ads-starting-tomorrow/
Twitter announced Monday that cryptocurrency advertisements would be banned from the website starting Tuesday. All ads related to initial coin offerings (ICOs), token sales, exchanges and wallet services - excluding public companies listed on major stock markets - will be removed from the site. Twitter CEO Jack Dorsey has previously acknowledged the proliferation of cryptocurrency scam accounts, pledging to crack down on users or bot accounts seeking cryptocurrencies from others.
- Majority of $550 Million Stolen NEM Already Laundered: Report
https://www.ccn.com/majority-of-550-million-stolen-nem-already-laundered-report/
The hacker(s) behind the $550 million theft of 500 million NEM tokens from Japanese cryptocurrency exchange Coincheck are reportedly close to cashing out their ill-gotten gains completely. As things stand, the money launderers are expected to cash out their coins – already swapped from NEM to other cryptocurrencies like bitcoin – in overseas exchanges that do not adhere to stringent know-your-customer (KYC) or ID norms.
Meanwhile, Tokyo-based Coincheck has kept its promise to refund NEM holders impacted by the breach by beginning to distributing reparations in Japanese Yen on March 12.
Other News
South Korea’s Largest Multi-Billion Dollar Conglomerates Enter The Cryptocurrency Market
https://cointelegraph.com/news/south-koreas-largest-multi-billion-dollar-conglomerates-enter-the-cryptocurrency-market
Wall Street Analyst Lowers Price Targets Of AMD, Nvidia Shares In Reaction To Bitmain Competition
https://cointelegraph.com/news/wall-street-analyst-lowers-price-targets-of-amd-nvidia-shares-in-reaction-to-bitmain-competition
Cboe Prods SEC on Bitcoin ETF Approval in New Letter
https://www.coindesk.com/cboe-argues-for-allowing-bitcoin-etfs-in-new-letter-to-sec/
Gov’t-Owned Entity Launches Blockchain-As-A-Service Platform In China
https://www.ethnews.com/govt-owned-entity-launches-blockchain-as-a-service-platform-in-china
Bitcoin is Gaining Legitimacy in Europe as Dutch Court Deems it Transferable Value
https://www.ccn.com/bitcoin-is-gaining-legitimacy-in-europe-as-dutch-court-deems-it-transferable-value/
Upbit Launches Cryptocurrency Index While Parent Company Dunamu Invests $92 M In Blockchain
https://www.ethnews.com/upbit-launches-cryptocurrency-index-while-parent-company-dunamu-invests-92-m-in
Stellar Founder/Ripple Co-Founder Cites Importance Of Decentralization
https://www.ccn.com/stellar-founder-ripple-co-founder-cites-importance-of-decentralization/
Australia Seeks Public Input on Crypto Tax Guidelines
https://www.coindesk.com/australia-seeks-public-input-crypto-tax-guidelines/