This week, bitcoin showed relentless effort in its attempt to crack the $4,000 resistance zone. Crypto exchanges also posted numerous global developments, as crypto space responded to Apple's credit card release. Catch up on the details!
Bitcoin knocking on the door of key level
Bitcoin showed persistence this week in its efforts to break through the lower $4,000s. The past two weeks have seen similar efforts from crypto's chief asset.
Price notably broke through the 20-week moving average (MA) last week on the weekly chart. Since Monday, price backtested the MA, showing it as support for the time being.
The asset also bounced off the McGinley dynamic again on the daily chart, showing it as continued support.
In a recent video, Crypto Crew University noted the importance of the 20-week MA as support in a bull market, as well as resistance in a bear market.
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Crypto exchanges continue development through bear market
Yahoo Japan's subsidiary Z Corporation is behind a new crypto exchange named TaoTao. The operation reportedly plans to launch in May of 2019, according to a CoinTelegraph Japan report.
“Yahoo announced last April that it [would] acquire a 40% stake in the Bit Argo Exchange Tokyo through its subsidiary Z Corporation,” CoinTelegraph explained. In February of 2019, Bit Argo turned into TaoTao via a rebranding.
In a separate report, CoinTelegraph also noted eToro's listing of TRON (TRX).
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Apple just released a credit card – and the crypto-world responds
Apple unveiled a credit card this week, which does not host the usual numbers and security code on the card, Business Insider reported.
Plans for the card include a summer 2019 release and a rewards program for its users. The adopters will gain “2% cash back when using Apple Pay and 3% on purchases made via the App Store or iTunes, or other direct-from-Apple buys,” Business Insider detailed.
Nye on crypto Twitter saw the news as positive for the financial space in general, asking what the crypto space thought of the news.
PabloPicasso on Twitter saw Apple's venture as a sign that the company's alternative payment methods (Apple Pay) could not compete with consumers' preferences for credit cards. He related the situation to crypto, saying that the adoption of these digital cryptographic assets might not come in the near future unless associated with card usage.
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Binance eyes enhanced security, KYC and AML in new partnership
In a blog post announcement, Binance announced a partnership with IdentityMind of the regulatory technology space.
This partnership will provide Binance with stronger global compliance ability and tighter security, furthering the exchange's operations.
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Kraken beefs up security with new updates
Kraken's chief security officer Nick Percoco posted a letter on the exchange's blog this week about updated security initiatives.
Kraken already boasts strength in terms of its data security. Percoco, however, desires to continue pushing the limits of the operation's safety measures. He and his team have come up with a detailed roadmap for security advancements at the exchange.
Percoco said many updates already have occurred on the back-end, and front-end updates will be announced to customers as they are released.
The letter also announced the implementation of mandatory two-factor authentication (2FA) for customers using Kraken. The exchange has offered 2FA since 2013, but has not required its usage by customers until now.
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Japan shows strong interest from crypto exchanges
More exchange news from this week saw interest from Japan in the area of crypto exchange openings.
According to news.Bitcoin.com's correspondence with the Japanese Financial Services Agency (FSA), 140 different players showed interest in setting up a crypto exchange over the last 12 months.
The FSA told news.Bitcoin.com they received documents from 23 separate parties looking to open up operations. Seven of the 23 “entities are under the main evaluation process as of this March,” the governmental institution said to news.Bitcoin.com.
Two of the seven, Rakuten Wallet and Decurret, have seen approval so far.
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Crypto Insider also had an interview with HodlHodl’s Max Keidun and Roman Snitko on running a non-KYC/AML Bitcoin service, and dove into the Binance Launchpad, as well as the "Bolt-A-Thon Conference."
Originally posted on Crypto Insider : https://cryptoinsider.com/weekly-roundup-march-25-march-29/