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Bitcoin Holds Just Over $4,000 as Top Cryptos See Slight Losses

Most of the top 20 cryptocurrencies are reporting slight losses as Bitcoin holds over $4,000.

Sunday, March 24 — most of the top 20 cryptocurrencies are reporting slight losses on the day by press time, according to data from CoinMarketCap.

Bitcoin (BTC) is down just over a tenth of a percent on the day, trading at around $4,021, according to CoinMarketCap. Looking at its weekly chart, the current price is just over a quarter of a percent lower than $4,036, the price at which Bitcoin started the week.

Bitcoin 7-day price chart. Source: CoinMarketCap

Bitcoin 7-day price chart. Source: CoinMarketCap

On March 18, the option to donate Bitcoin, along with eight other cryptos, appeared on the website of Tor digital privacy software.

Ethereum (ETH) is holding onto its position as the largest altcoin by market cap, which is at about $14.4 billion. The second-largest altcoin, Ripple (XRP), has a market cap of about $12.9 billion by press time.

ETH is down by a slight half a percent over the last 24 hours. At press time, ETH is trading around $137, after having started the day at roughly the same price. On its weekly chart, Ethereum has seen its value decrease by nearly three percent.

Ethereum 7-day price chart. Source: CoinMarketCap

Ethereum 7-day price chart. Source: CoinMarketCap

Recently news broke that leading Ethereum browser extension Metamask reportedly broadcasts ETH addresses to all websites a user visits in its default settings.

Second-largest altcoin Ripple has is also down about half a percent in the 24 hours to press time, and is currently trading at around $0.309. Looking at the coin’s weekly chart, its current price is also nearly three percent lower than $0.318, the price at which it started the week.

Ripple 7-day price chart. Source: CoinMarketCap

Ripple 7-day price chart. Source: CoinMarketCap

Among the top 20 cryptocurrencies, the one reporting the most notable price action — and one of the few coins in the green over the last 24 hours — is Binance Coin (BNB), which is up by over 11 percent.

As Cointelegraph reported earlier today, Binance Coin is employed by the new format of Binance’s token launch service, Launchpad, for acquiring tickets to access a lottery to acquire new altcoins.

Meanwhile, the total market cap of all cryptocurrencies is currently equivalent to $140 billion, which is nearly identical to its value one week ago, up slightly from $139.7 billion

In recent news, the general manager at the Bank for International Settlements, Agustin Carstens, advised against the issuance of central bank digital currencies (CBDCs) in a speech in Dublin. Carstens explained that a CBDC could facilitate a bank run, enabling people to move their funds from commercial banks to central bank accounts faster, thus destabilizing the system.

At the end of last week, an analysis from cryptocurrency index fund provider Bitwise Asset Management to the United States Securities and Exchange Commission was published, claiming that 95 percent of volume on unregulated exchanges appears to be fake or non-economic in nature.

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Accepted: MakerDAO Vote to Raise DAI Stablecoin Stability Fee by 4% to 7.5% per Year

MKR token holders have voted to raise the so-called stability fee for MakerDAO’s DAI (DAI) stablecoin by 4 percent.

Users of Decentralized Autonomous Organization (DAO) MakerDAO (MKR) have voted to raise the so-called stability fee for Maker’s DAI (DAI) stablecoin by 4 percent, according to the results of a recent poll completed on March 21.

The firm announced on Thursday that users had voted yes to the proposal to increase the stability fee by 4 percent, from 3.5 percent to 7.5 percent. The reasons provided by the post are that the DAI’s exchange persists under one dollar, high inventory levels among market makers and prop desks, and insufficient impact from the previous fee increase.

The MKR token holder could choose whether to raise the fee by zero, two or four percent. Still, the vote page explains that “the absence of any significant volume clearing near $1 indicates that there needs to be stronger incentives in place” than a 2 percent increase.

Lastly, the post admits that a 4 percent increase is “the largest one-time raise, and runs the risk of overshooting our estimate. Of course, the correct Stability Fee could still be 7.5% or higher.” The MakerDAO token MKR, which grants voting rights, is currently ranked the 16th largest cryptocurrency on CoinMarketCap and is up 1.12 percent at press time.

As Cointelegraph recently reported, MKR token holders already voted to raise the DAI stability fee to 3.5 percent this month.

Senior advisor for digital assets at the United States Securities and Exchanges Commission Valerie Szczepanik reportedly noted last week that stablecoins could experience issues under current securities laws.

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Top 5 Crypto Performers Overview: ONT, ADA, ETC, BCH, IOTA

As cryptos are currently rising from the bottom, the community has started hearing some bullish voices again.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

The market data is provided by the HitBTC exchange.

As the cryptocurrencies are rising from the bottom, we have started to hear some bullish voices again. Arthur Hayes, co-founder and CEO of BitMEX, expects the price of Bitcoin to reach $10,000 this year.

One of the events that can cause the price to move northward is the launch of Bakkt. The digital platform’s launch has reportedly been getting delayed due to compliance issues, as it planned to have custody of its customers’ Bitcoin. Nonetheless, the United States Commodity Futures Trading Commission (CFTC) has said that it is working on all the various crypto-related applications, including Bakkt. So, it could be only a matter of time before they get the green signal.

After the long bear phase, the current recovery is being led by various altcoins. Though the leader, Bitcoin, has only been crawling higher, the altcoins are seeing some sharp gains from the lows. The rise has reduced the dominance of Bitcoin in the past few weeks. In order to cover the altcoin rally better, we have chosen the top five performers among the coins that have a market capitalization of greater than $500 million.   

ONT/USD

Ontology is the top gainer of the past week, as the markets cheered the various announcements made in the past few days. Ontology entered into a partnership with MovieBloc, a new participant-centric film distribution platform, that is backed by Korean video streaming platform

Pandora.tv. Li Jun, founder of Ontology, said that the project had completed a loyalty-based points solution for Fosun, a Chinese international conglomerate and investment company that has about 100 million users. Ontology is also working on chemical supply chain tracking for the Lanxess group. Will the rally continue or will the traders book profits? Let us find out.

ONT/USD

The ONT/USD pair is in a smart pullback after hitting a low of $0.43598112 in December of last year. It is currently in the midst of forming a rounding bottom, which will complete on a breakout above $2.26296972. The minimum target objective of this reversal pattern is $4.08995832. The 20-week EMA has flattened out and the RSI is turning up. This shows that the bears are losing their grip.

We expect the bears to mount a strong defense at the current levels. But if the bulls scale and sustain above $1.22947704, the recovery can extend to $2.26296972. Short-term traders can buy on a weekly close (UTC time frame) above $1.22947704 and keep a stop of $0.78. This is a risky trade; hence, please keep the position size to only about 40 percent of normal.

ADA/USD

Cardano (ADA) completed a successful upgrade to version 1.5, which is the last major release of the Byron development phase. This update is an important step for moving to the Shelley development phase. After the rally, where does the price go from here? Let’s find out.

ADA/USD

The ADA/USD pair has risen sharply in the past seven days: it has broken out of the range and has risen above the 20-week EMA, which is a positive sign. It should now rally to $0.082952 and if this level is crossed, the next target is $0.094256.

Both the moving averages have flattened out and the RSI has also risen to the midpoint. This shows that the trend is changing.

Traders can buy 50 percent of the desired allocation on a weekly close (UTC time frame) above $0.051468, and buy the rest on a minor dip to the breakout levels. We are recommending two different buy levels because strong breakouts do not retrace, so if the pair continues to move up, the traders will have some chips in the game. But on most occasions, breakouts pullback; if that happens, we want to buy at lower levels. The stops can be kept at $0.0350.

ETC/USD

The week saw the resignation of Anthony Lusardi from his post as the U.S. director of the Ethereum Classic Cooperative. However, he reiterated that he will continue to be involved with the ETC cooperative and will do some side/programming projects for Ethereum Classic (ETC) and Bitcoin. He said that the social media pressures had become difficult for him to handle, leading to his resignation. Nevertheless, the price of the cryptocurrency did not take a hit due to the departure.    

ETC/USD

The ETC/USD pair is attempting to form a base near the lows: it can move up to $5.889.  The 20-week EMA is also located close to this level; therefore, we anticipate a strong resistance at $5.889.

If the bulls push the price above $5.889, it can rally to the next overhead resistance of $9.50. Therefore, traders can buy on a breakout and weekly close (UTC time frame) above $5.889 and keep a stop loss at $3.3.

If the digital currency turns down from $5.889, it might prolong its stay in the range for a few more weeks. It will weaken if it breaks below $3.3.

BCH/USD

Swiss-based cryptocurrency ATM operator Värdex Suisse has added support for Bitcoin Cash (BCH) on its devices. Swiss online retailer Digitec Galaxus will also now accept cryptocurrencies, and Bitcoin Cash is one of the many digital currencies on the list.

BCH/USD

The bulls have carried the BCH/USD pair to the first overhead resistance of $163.89. Above this level, the digital currency can move to the next overhead resistance of $239. The 20-week EMA is located just below this level. Hence, we anticipate a stiff resistance close to $239. The digital currency has a history of vertical rallies, so if it breaks out of $239, the move can reach $400 and higher.

Conversely, if the bears defend $239, the pair might extend its stay inside the range for a few more weeks. We do not find any buy setups at the current levels.

IOTA/USD

The crypto payments startup Zeux will add IOTA as a mode of payment at various stores that accept Samsung Pay and Apple Pay. Zeux will launch in Europe in April of this year, and will hit the U.S. in 2020. How does the future look on the charts? Let’s see.

IOTA/USD

The OTA/USD pair is attempting a basing pattern near the lows. It is likely to rise to the 20-week EMA and above it to $0.4081. We expect the bulls to mount a stiff resistance at this level.

If the price turns down from here, it will remain range-bound for a few more weeks. The trend will turn down if the digital currency breaks down to new yearly lows.

On the other hand, if the price scales above $0.4081, it can move up to $0.560 and above it to $0.6499. After this level is crossed, the rally can reach the stiff overhead resistance of $0.8152. We shall wait for the price to sustain above $0.4081 before proposing any trade in it.

Market data is provided by the HitBTC exchange. Charts for analysis are provided by TradingView.

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Bank for International Settlements Exec Advises Against Central Bank Digital Currencies

Bitcoin critic and general manager at the Bank for International Settlements advised against the issuance of CBDCs.

Bitcoin (BTC) critic and general manager at the Bank for International Settlements (BIS) Agustin Carstens advised against the issuance of central bank digital currencies (CBDCs) in a speech in Dublin on March 22. Bloomberg reported on the speech the same day.

Per the report, Carstens explained that a CBDC could facilitate a bank run, enabling people to move their funds from commercial banks to central bank accounts faster, thus destabilizing the system. Another issue that Carstens said arises with CBDC use, according to Bloomberg, is the different impact of interest rates on the public’s demand for money.

Carstens reportedly said that this influence could lead to bigger central bank balance sheets that require a buildup of assets, which could potentially impact the liquidity of the financial markets. Per Bloomberg, he also noted that there are enormous operational consequences for the central bank in the implementation of monetary policy and the traditional market’s stability. Lastly, he noted:

“Central banks do not put a brake on innovations just for the sake of it. But neither should they speed ahead disregarding all traffic conditions.”

As Cointelegraph reported in February, Carstens called Bitcoin a “combination of a bubble, a Ponzi scheme and an environmental disaster” and asked central banks to more closely regulate cryptocurrencies to prevent them from becoming part of the main financial system.

A report published in January by the BIS has found that seventy percent of central banks worldwide are conducting research into CBDC issuance.

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Bitcoin Stays Over $4,000 as Top Cryptos See Slight Losses

Most of the top 20 cryptocurrencies are reporting slight losses as Bitcoin stays over $4,000.

Saturday, March 23 — most of the top 20 cryptocurrencies are reporting slight losses on the day by press time.

Bitcoin is down just under half a percent on the day, trading at around $4,022, according to CoinMarketCap. Looking at its weekly chart, the current price is over a quarter of a percent higher than $4,037, the price at which Bitcoin started the week.

Bitcoin 7-day price chart

Bitcoin 7-day price chart. Source: CoinMarketCap

Arthur Hayes, co-founder and CEO of cryptocurrency trading platform BitMEX, has recently predicted that Bitcoin will get back to the $10,000 price point this year.

Ethereum (ETH) is holding onto its position as the largest altcoin by market cap, which is at about $14.5 billion. The second-largest altcoin, Ripple (XRP), has a market cap of about $13 billion by press time.

ETH is down by 0.31 percent over the last 24 hours. At press time, ETH is trading around $138, after having started the day at roughly the same price. On its weekly chart, Ethereum has seen its value decrease by over two percent.

Ethereum 7-day price chart

Ethereum 7-day price chart. Source: CoinMarketCap

Cointelegraph reported that North Korean political dissident group Cheollima Civil Defense will start selling Ethereum-based visas for entering the country once it is supposedly liberated, with the issuance beginning tomorrow.

Second-largest altcoin Ripple has gained over half a percent in the 24 hours to press time, and is currently trading at around $0.311. Looking at the coin’s weekly chart, its current price is over two and a half percent higher than $0.319, the price at which it started the week.

Ripple 7-day price chart

Ripple 7-day price chart. Source: CoinMarketCap

Among the top 20 cryptocurrencies, the ones reporting the most notable price action are Tron (TRX), up by nearly five percent, and Cardano (ADA), which is also up by nearly five percent.

The total market cap of all cryptocurrencies is currently equivalent to $140.2 billion, which is nearly identical to its value one week ago.

As Cointelegraph reported earlier today, China has released its latest government-sponsored rankings of major cryptocurrencies on March 22, placing Bitcoin in 15th, while EOS keeps the top spot. Tron came in second in the rankings, after overtaking Ethereum in February when it was added to the list.

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Metamask Browser Extension Default Settings Broadcast ETH Addresses to Visited Websites

Leading Ethereum browser extension Metamask reportedly broadcasts ETH addresses to all visited websites.

Leading Ethereum (ETH) browser extension Metamask reportedly broadcasts ETH addresses to all websites a user visits in its default settings, a GitHub issue submitted on March 20 states.

Metamask is a browser extension featured in the Brave browser — compatible with Mozilla Firefox, Google Chrome and Opera — that enables its users to interact with Ethereum-based decentralized applications (DApps). According to the aforementioned GitHub issue, Metamask broadcasts its users’ ETH address to all the websites visited in its default settings, with the post specifying that the ETH addresses are shown in data objects contained in message broadcasts as opposed to window objects.

According to the issue report, this can lead to the identification of users and precludes Metamask use by privacy sensitive DApps. More precisely, the user cites the recently hacked porn DApp Spankchain and health DApps as examples.

Moreover, not only the administrators of the visited websites have access to users’ Metamask addresses, but also so-called trackers such as Facebook like or share buttons, Twitter retweet buttons and similar systems that can fingerprint the browser. The user also noted on GitHub that he expects that “these message broadcasts will significantly decrease the value of ETH over the long-term.”

In his answer to the GitHub issue, developer Dan Miller argued that enabling private mode solves the problem, to which the user who created the report responds that it does not. ConsenSys software developer Daniel Finlay admitted that they agree that there is a need to enable privacy mode by default, and that the extension’s privacy could be improved upon.

Lastly, Finlay also responded to the user’s allegations that the reportedly lacking privacy features of the software are malicious in nature:

“We definitely reject all your claims that this is some weird malicious act on our part. That would be the craziest move we could ever make on a totally open source crypto project.”

As Cointelegraph reported in November last year, Metamask showcased a mobile version of its software in the past, but it hasn’t been released yet. However, a malware impersonating the tool appeared on Google Play and was subsequently removed from the store in February.

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China’s 11th Crypto Rankings: EOS First, TRON Second, Ethereum Third, Bitcoin Fifteenth

China has released its latest government-sponsored rankings of major cryptocurrencies.

China has released its latest government-sponsored rankings of major cryptocurrencies on March 22, placing Bitcoin (BTC) in 15th, while EOS keeps its top spot. Tron (TRX) came in second, after overtaking Ethereum (ETH) in February.

The crypto rankings by China’s Center for Information and Industry Development (CCID) were first announced in May last year. In this eleventh edition of the index, EOS has remained as the top-ranked blockchain, a place occupied by the platform since June 2018.

The eleventh CCID Global Public Chain Technology Evaluation Index puts Tron on the second spot, as did the tenth edition. The ninth edition had previously placed Ethereum in the second spot, while Tron wasn’t present at all on the list.

In the tenth edition, Bitcoin had moved from number 15 to number 13, now falling back down two spots to occupy 15th place again.

As Cointelegraph recently reported in a dedicated analysis, EOS is seemingly still a work in progress, as the blockchain has seen controversy over some aspects of its allegedly centralized governance system.

Two major crypto exchanges — Singapore-headquartered Huobi Global and Malta-based OKExproclaimed their support for the Tron-based version of stablecoin Tether this week. At the beginning of the current month, Tron and Tether had first announced their intention to introduce the USDT to the Tron network.

Recently, Cointelegraph reported that Ethereum is being used by a North Korean political dissident group, the Cheollima Civil Defense, to sell tokenized visas for entering the country once it is supposedly liberated.

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Russian State Duma Defers Consideration of Bill On Digital Financial Assets

The State Duma of the Russian Federation has rescheduled consideration of the bill “On Digital Financial Assets” for April 2019.

The State Duma of the Russian Federation has deferred consideration of the bill “On Digital Financial Assets” to April 2019,  local media outlet TASS reported on March 20.

The second reading of the draft federal law “On Digital Financial Assets” has reportedly been rescheduled for April, following a decision made at the morning voting on the agenda of the plenary session. The initiative was taken by the Chairman of the State Duma Committee on Financial Market, Anatoly Aksakov, although he did not explain his motives.

The bill “On Digital Financial Assets” aims to formulate national cryptocurrency legislation, and was adopted by Russia’s parliament in the second reading earlier in March. Vyacheslav Volodin, the Chairman of the State Duma and coauthor of the draft bill, stressed then that the adopted amendments are aimed at fixing the difficulties related to the concept of digital rights.

The wording of the bill prepared for the second reading excludes the definition of a token, cryptocurrency, and smart contract. The document provides the definition of digital financial assets, saying that such assets are represented by digital rights, including liabilities and other rights, monetary claims, and the possibility of exercising rights in regards to equity securities and rights to require the transfer of equity securities.

As reported last December, Pavel Krasheninnikov, the head of the council and chairman of the State Duma committee on state building and also a coauthor of the bill, said that the bill had been pushed back to the first reading stage as it needed to be dramatically changed.

Recently, Russia’s parliament voted to enact new digital rights legislation in October of this year. The law reportedly establishes the concept of “digital rights” in Russian legislation with the addition of a new article, 141.1, of the Civil Code of the Russian Federation, and determines how digital rights can be exercised and transferred, as well establishes rules for digital transactions, including contracts.

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Major Latin American E-Commerce Company Bans Cryptocurrency-Related Ads

The largest e-commerce company in Latin America, Mercado Livre, has prohibited cryptocurrency advertising on their website.

The largest e-commerce company in Latin America, Mercado Livre, has banned cryptocurrency advertising on their website, Cointelegraph em Português reported on March 18.

The development was revealed in an exclusive interview with Cointelegraph em Português after the company’s users reported receiving of emails informing them about the change in Mercado Livre’s policy.

The new policy requires all users to remove their listings pertaining to digital currency, otherwise all listings will automatically be taken down from the platform starting March 19. One of the users received a letter, saying:

“We would like to inform you that as of March 19, you will no longer be able to advertise used products in the following categories:

– Cryptocurrencies

– Prepaid cards for games

Because you have ads for used products that will soon be banned, we recommend that you end them. Otherwise, they will be finalized on the date mentioned above. “

Mercado Livre reportedly stated:

“Mercado Livre clarifies that as of March 19, crypto ads that are active on the site in the ‘used’ condition will automatically be finalized and new ads can only be created as ‘new products’.”

Mercado Livre (or Mercado Libre in Spanish) has overtaken fellow e-commerce giant Amazon in Latin America. Earlier this month, the firm reportedly sealed a deal for a whopping $750 million investment via a sale of common stock to payments network PayPal.

Large technology firms like Google and Facebook have previously introduced similar bans. In March last year, Google announced the ban of all cryptocurrency-related ads of all types starting from June 2018. The move affected all of Google’s ad products, meaning companies were not able to serve crypto-related ads on the search engine giant’s own sites, as well as third-party sites in its network.

In January, Google reportedly blacklisted keywords mentioning Ethereum (ETH) on its advertising platform. Google reportedly stated that cryptocurrency exchanges targeting the United States and Japan could be advertised on the platform, and that targeting other countries could be the reason for the ad rejection.

Last January, Facebook prohibited ads that use “misleading or deceptive promotional practices,” which reportedly includes ads of cryptocurrencies and initial coin offerings.

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Crypto Markets Report Slight Gains While Gold Rises

Crypto markets are seeing slight gains, having overcome yesterday’s drop, with Bitcoin hovering around the $4,000 mark.

Friday, March 22 — All the top 20 cryptocurrencies, except Tether (USDT), are in the green, having overcome yesterday’s drop.

Market visualization from Coin360

Market visualization from Coin360

Bitcoin (BTC) is up 0.31 percent over the past 24 hours, and is trading at around $4,045 at press time. The coin started the day at $4,029, with a jump to as high as $4,053 in the middle of the day. In terms of a weekly view, Bitcoin has gained around 1.9 percent, while in terms of the month BTC has increased by just one percent.

Bitcoin 7-day price chart

Bitcoin 7-day price chart. Source: CoinMarketCap

Ethereum (ETH) is up 1.17 percent on the day, seeing today a high of $138.79 and low of $135. At press time, the leading altcoin is trading at around $138.14. The altcoin’s market capitalization is around $14.5 billion, while its circulating supply is around 105 million to press time.

Ethereum 7-day price chart

Ethereum 7-day price chart. Source: CoinMarketCap

Ripple (XRP) is trading at around $0.312, having gained 0.37 percent on the day at press time. Today, the coin dipped to as low as $0.310, while the intraday high was $0.314. The altcoin’s market cap is currently around $13.06 billion.

XRP 7-day price chart

XRP 7-day price chart. Source: CoinMarketCap

At press time, the only loser in the top 20 cryptocurrencies is USDT, which is down 0.19 percent on the day and is trading at $1.01 at press time. Cardano (ADA) has gained the most, around 10 percent, and is trading at around $0.058 at press time.

Total market capitalization of all cryptocurrencies is around $140.2 billion as of press time, according to CoinMarketCap. The daily trading volume of all coins is $30 billion at press time.

Total market capitalization 24-hour chart

Total market capitalization 24-hour chart. Source: CoinMarketCap

Yesterday, the Wall Street Journal reported that much-anticipated crypto platform Bakkt’s plans to store customers’ BTC from its Bitcoin futures could cause further delay in obtaining approval from the Commodity Futures Trading Commission (CFTC). According to the report, the CFTC has outlined various alternative options for Bakkt, including having the firm register as a trust company.

The traditional markets have reported gold’s rise after weak economic data from the euro-zone strengthened concerns about global slowdown and had an impact on risk sentiment. Bullion is now on track for its best week in nearly two months, according to CNBC.

At press time, gold has gained around 0.43 percent and is trading at around $1313 per ounce. Silver is down by 0.11 percent on the day, trading at the $15.42 at press time.