🗞 Daily Crypto News, April, 20th💰

Welcome to the Daily Crypto News: A complete News Review, Coin Calendar and Analysis. Enjoy!

🗞 Market Wrap: Bitcoin Recovers From Sunday Slump to $56K as Doge Jumps 19%

The bitcoin market saw spot volumes not witnessed since February and record derivatives action over the weekend. Ether declined, while the meme-y alternative cryptocurrency dogecoin saw double-digit percentage price appreciation.

Bitcoin’s 24-hour range: $54,680-$57,456 (CoinDesk 20)

BTC near the 10-hour but below the 50-hour moving average on the hourly chart, a sideways signal for market technicians.

The price of bitcoin suffered a price drop on Monday, dipping to as low as $54,680 before recovering somewhat, to $56,026 as of press time

“The crypto markets witnessed a sudden dip over the weekend, when BTC dropped before recovering about half of that by day end,” noted David Lifchitz, CIO and partner at quant trading firm ExoAlpha.

Bitcoin volumes on major exchanges that encompass the CoinDesk 20 had a banner day Sunday when viewed through the prism of the past three months. Volumes on the CoinDesk 20 eight spot BTC venues was over $8 billion for the first time since Feb. 23, when volumes surpassed $12 billion. Volumes were much lower Monday, at below $4 billion as of press time.

“As usual, the primary reason was a combination of over-leveraged derivative traders,” Lau told CoinDesk.

According to CoinDesk 20 data, bitcoin has closed at over $60,000 only seven days, all of them in March and April. It has not closed below $50,000 since March 6.

However, there is still some potential for downside risk. “The bull definitely wants to take a breather,” ExoAlpha’s Lifchitz concluded. “Should the $50,000 level break, dip buyers would be submerged by sellers, then $30,000 looks like the obvious next stop, but we are not there yet.”

Ether dips as investors await relief from fee quagmire

Since the start of 2021, ether’s price has appreciated over 208% as of CoinDesk daily closing price information from Jan. 1 to April 18.

Stefan Coolican, chief financial officer of investment firm Ether Capital, says despite some red on the trading screens in the past few days, investors are bullish, anticipating a solution to Ethereum’s fee problems. Ethereum Improvement Proposal 1559, which is expected to help solve constraints in the network’s decentralized application functionality due to high fees, should be arriving in the next few months.

🗞 Oracle Service API3 Partners With the Open Banking Project, Plans to Connect 400 Banking APIs to Blockchain

On Monday, the oracle provider API3 announced a ten-year partnership with the Open Bank Project in order to connect more than 400 banking APIs to blockchain smart contracts using API3’s Airnode. The collaboration between API3 and the Open Bank Project aims to bridge conventional banking with blockchains and Web 3.0 applications.

API3 DAO Partners With the Open Banking Project Connecting Over 400 Banking APIs to Blockchain

During the last few months, there’s been greater interest in oracle providers like Chainlink, Band Protocol, API3, and DIA. Recently, Bitcoin.com’s news reported on a number of oracle-based tokens gathering two-digit gains.

Further, our newsdesk covered how Chainlink’s modular oracle for the Substrate framework aims to empower developers and decentralized finance (defi) applications with trusted off-chain information.

On April 19, API3, the project that claims to provide “decentrally governed and quantifiably secure data feeds,” revealed a partnership with the Open Bank Project (OBP). The API3 project is a DAO-governed protocol and the union with OBP will be for ten years. The project will provide over 400 banking APIs the ability to access Airnode, an open-source gateway developed by API3.

Third-Party Dapp Developers Can Begin Rapidly Prototyping Blockchain Solutions, Traditional Finance and Crypto Converge

The alliance will use Airnode, a first-party oracle so “third-party decentralized application developers with the opportunity [can] begin rapidly prototyping blockchain solutions powered by Open Banking data.”

🗞 China Isn't Winning the Central Bank Digital Currency Race: PwC

Countries around the world are racing to make a central bank digital currency (CBDC).

But a new report says China isn't actually the most advanced with developing one.

Central bank digital currencies (CBDCs) are on their way. But China, which is often touted as the most advanced country in terms of CBDC development, won't be the first to release one.

That’s according to a new report by PricewaterhouseCoopers (PwC). The Big Four accounting firm, instead, claims that the country with the most advanced CBDC project is the Bahamas, with its Sand Dollar.

That isn’t to say that China’s digital yuan won’t be the most impactful CBDC, though, once it's fully rolled out. China’s economy is the second largest in the world—the Bahamas ranks 130th. And other countries are getting worried—including the US—about China’s progress with its digital native currency.

🗞 Phone Giant Deutsche Telekom Invests in Celo's Crypto Network

The deal will see Deutsche Telecom support and build Celo infrastructure

Celo's co-founder sees more telecom companies investing in crypto

In a first for the telecom industry, one of its biggest players is jumping into crypto. On Tuesday, Deutsche Telekom announced it is purchasing tokens issued by Celo, a startup that specializes in offering crypto on mobile phones.

The German telco giant did not disclose the size of the investment, but a corporate executive told Decrypt that the token purchase was significant. The company is also investing in infrastructure to support the Celo network, which is working to build a decentralized version of Venmo-style peer-to-peer payment platforms.

Launched in 2017, Celo has maintained a relatively low profile in the crypto world. But that has begun to change in recent months, in part thanks to a recent $20 million funding round raised by blue venture capital firms, including Andreessen Horowitz.

🗞 Daily Crypto Calendar, April, 20th💰

BLink (BLK), WINk (WIN)

"Join us on April 20th at 12:00 UTC for an AMA in the Blink Telegram group with CEO Lucia."

SparkPoint (SRK)

"SparkPlay: New Original Crypto Game Announcement."

Auto (AUTO)

"Autofarm will be going live on an AMA hosted by @FranceBSC on 20th April at 18:00 GMT+2 (Paris)."

Terra Virtua Kolect (TVK)

"The solution is already tested and deployed and will start functioning on most of the transaction types on the marketplace"

CafeSwap Token (BREW)

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