Crypto lender Genesis files for Chapter 11 bankruptcy. New FTX CEO John Ray has set up a task force to consider relaunching FTX.com. Iran and Russia want to issue a new stablecoin backed by gold. Bitcoin (BTC) is at $21,856, Ether (ETH) at $1,621 and XRP at $0.40.
A U.S. appeals court is set to hear the oral arguments relating to Grayscale Investment’s lawsuit against the Securities and Exchange Commission. Both sides will present their arguments at the District of Columbia Court of Appeals on March 7, at 9:30 am local time. The composition of the argument panel will be revealed on Feb. 6.
Bitcoin has broken out of its torpor to notch up a 37% gain since the beginning of 2023. On-chain data is still signaling it could be a “generational buying opportunity,” according to analysts. Technical analyst “Game of Trades’ identified six on-chain metrics for his 71,000 followers.
Uniswap (UNI), a decentralized protocol, is ready to roll out the third version of its platform. The protocol aims to provide a suitable platform where users can seamlessly swap ERC-20 tokens without using an order book. For the v3 launch, the protocol carried out a ‘temperature test’ for a possible blockchain to use. The proposal was for deploying UnisWap v3 on the Binance Smart Chain (BNB) instead of the Ethereum blockchain.
Bitcoin price started a downside correction below $23,000. BTC is testing an important support and might start a fresh increase towards $24,200. An immediate resistance is near the $22,700 level. A downside break below the $21,900 level might send the price to $20,500.
Quant (QNT) has added more than 8.24% over the past 24 hours. The token price often moves in response to changes in the U.S. economy. The Consumer Price Index (CPI) for December at 6.5% showed a value in line with market expectations. The Quant Network designs secure bridges for asset transfer.
Ether price is now trading below $1,600 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $1,.620 on the hourly chart of ETH/USD. The price declined over 6% in a day and traded below the $1.550 support zone.
Polkadot’s DOT started a fresh increase from the $5.60 support against the US Dollar. The price is trading nicely above the $6.00 support and the 100 simple moving average (4-hours) There is a major bullish trend line forming with support near $ 6.05 on the 4-hours chart of the DOT/USD pair.
Bitcoin (BTC) has an important new price target for bulls to meet — and it is closer than it seems. $25,000 is now a critical BTC price level. It is also the site of Bitcoin’s 200-week moving average (WMA), a key trend line.
A group of Genesis creditors filed a securities class action (SCA) lawsuit against DCG and its founder and CEO Barry Silbert. The lawsuit was filed by Connecticut-based law firm Silver Golub & Teitell on behalf of individuals and entities who entered into digital asset lending agreements with Genesis. It alleges that Genesis engaged in an unregistered securities offering in violation of securities laws.