The appreciation of the cryptocurrency market is consolidated this Thursday morning (24), with double-digit gains for Cardano (ADA) and Dogecoin (DOGE). Bitcoin (BTC) is up 1.9% in the last 24 hours, trading at $43,974, according to data from CoinGecko. Ethereum (ETH) gains 2.6% to trade at $3,041. In Brazil, Bitcoin operates with stability, up 0.3% and quoted at R$ 209,018, according to the Bitcoin Portal Index (IPB). Cardano is up 16.1% to $1.13 and Dogecoin is up 13.8% to $0.139370. Experts point to one factor that could be cheering investors up this week: Goldman Sachs’ announcement on Monday (21), when it became the first major US bank to make an OTC cryptocurrency transaction, buying a no-delivery option. (or NDO) from Galaxy Digital. “This participation by Goldman sparks new confidence in the market and a strong hope that more crypto institutions will enter the sector to meet the demand made by their clients,” Scott Norris, co-founder of LSJ Ops, a private Bitcoin miner, told Decrypt. In the USA. In addition, investors trading contracts that bet on Bitcoin futures did better than expected, as BTC options were priced at $38,000 last week and bullish traders broke “the wall,” Norris points out. Thursday is also bullish for Binance Coin (+1.9%), XRP (+1.4%), Avalanche (+0.2%), Earth (+2.4%), Solana (+6 .6%), Polkadot (+2.6%) and Shiba Inu (+5.6%). Cardano and Dogecoin soar, with gains of 17% and 13.4% respectively, according to CoinGecko. Investors continue to look at how cryptocurrencies are performing against the stock market. The 90-day correlation between Bitcoin and the S&P 500 rose to 0.49 last Friday, the highest level since October 2020, data from Arcane Research shows. Edward Moya, senior analyst at Oanda Americas, views the current trend with optimism. In an emailed review to CoinDesk, Moya says that Bitcoin’s pattern above $40,000 is beneficial “for long-term investors” and that BTC’s performance is positive in the current risk-averse environment.
In his annual letter to shareholders, BlackRock CEO Larry Fink said Russia’s invasion of Ukraine could accelerate the global transition to green energy and the use of digital currencies. In the wake of the war, according to the executive, countries will reassess their dependence on traditional cash and payment systems. “A carefully crafted global digital payment system can improve the settlement of cross-border transactions while reducing the risk of money laundering and corruption,” said Fink, who heads the world’s largest asset manager. For some analysts, the conflict between Russia and Ukraine and the monetary tightening by the most important central banks on the planet cast doubt on Bitcoin’s role as “digital gold”, according to an article in Valor. But for André Franco, head of research at Mercado Bitcoin, the cryptocurrency has been around for almost 15 years and in the meantime it has grown a lot and continues to expand. “Today gold has an estimated market value of around $12 trillion, while Bitcoin is approaching $1 trillion. It is much less, but gold has been used as a store of value for much longer,” he says.
new brokerage: Liqi, a fintech specializing in asset tokenization, announced on Wednesday (23) the launch of a cryptocurrency exchange. The new platform will be presented on the 26th, at the BitSampa event, in São Paulo. The release is scheduled for April 4th. Just over two months ago, the fintech received an investment of R$ 27.5 million in an investment round led by Itaú Unibanco’s Corporate Venture Capital fund. stratospheric return: Return of nearly 20% is rare in the traditional finance industry. But that is exactly what the Anchor Protocol promises customers willing to deposit stablecoin UST in its decentralized finance app. In an interview with Bloomberg, Do Kwon, the executive behind the Terra blockchain that operates Anchor and UST, said the high interest rate is a reflection of the current level of return the DeFi market can offer investors. But some market players warn of the risks if the Anchor rate drops.
Regulation, Security and CBDCs
Economic Value Forum: The regulation of cryptocurrency transactions has become a central topic on the agendas of governments, market agents and specialists. To discuss the matter, Valor Econômico promotes the forum “Regulation of Digital Currencies” in partnership with the Bitcoin Market. The event will be broadcast online this Thursday (24) on Valor’s social media from 9 am. The panel “The impacts of regulation” will be composed by Pablo Cerdeira, lawyer, programmer and technology specialist, and Vanessa Butalla, executive director – Legal, Regulatory and Compliance – at 2TM. Blockchain in the EU: Issuance, trading and settlement of equities and bonds through blockchain technology will be tested in the European Union under a five-year pilot program approved by the European Parliament in Brussels. Lawmakers celebrated the preliminary legislation on Wednesday (23) to place the bloc at the “vanguard of innovation”, CoinDesk reported. Powell defends regulation: During the BIS Innovation Summit, Federal Reserve Chair Jerome Powell stated that digital innovations in the financial sector will require regulatory changes. Powell stressed that the creation of instruments and technologies is important to increase productivity in the economy, but said that there are still doubts about how cryptocurrencies would behave in times of stress in the markets, reported Estadão. At the event, the president of the US central bank also said that a possible digital dollar would have to guarantee privacy and be “identifiable”. El Salvador on the radar: The US Senate will vote on a bill that aims to mitigate the risks to the American financial system arising from El Salvador’s adoption of Bitcoin as legal tender. The bill, which was approved by a committee on Wednesday, also calls for the US government to monitor remittances arriving from El Salvador, CoinDesk highlighted. And, according to Reuters, El Salvador is seeking support from Binance for the implementation of Bitcoin as legal tender and for the issuance of cryptocurrency-backed securities, the country’s ambassador to the US said on Wednesday. Honduras denies rumors: The Honduran central bank published a statement on Wednesday (23) to put an end to rumors circulating in the crypto market that the country would follow the example of El Salvador and make Bitcoin one of its official currencies. Despite this, the Central Bank of Honduras stated that it is carrying out studies on a possible issue of a central bank digital currency (CBDC).
Metaverse, Games and NFTs
Krafton-Solana Lab Partnerships: South Korea-based video game developer Krafton has partnered with Solana Labs, the developer behind the Solana blockchain. The agreement between the companies could lead to the non-fungible tokens for the popular PlayerUnknown’s Battlegrounds (PUBG) game, according to CoinDesk. Mandela’s NFT: An NFT of the only arrest warrant against the hero of the struggle against apartheid, Nelson Mandela, found and kept, will be auctioned this Saturday (26) in Cape Town, according to an announcement by the South African company Momint published by Estadão.
mystery boxes: Santos fans who like technology will be able to purchase the “Santos FC Hat-Trick: Primeira” collection, a product of Binance, reported Estadão. These are mystery boxes of NFTs in three series for fans, at the cost of four Santos Fan Tokens.