News updates April 10, 2022

1. Bitcoin, Binance Coin, Flow, and eCash Daily Price Analyses – 9 April Roundup:

* The global crypto market has begun to recover value, adding 1.04% over the last 24 hours.

* Bitcoin has also performed well, adding 1.01% in 24 hours.

* Binance Coin follows the course of Bitcoin, adding 1.05% to its bulk.

* Flow is following the popular market trend, adding 0.95%, while eCash has shed 0.04% over the last 24 hours.

The global crypto market has finally soared to heights, getting rid of the continuing bearishness. The result improved various coins, including Bitcoin, which also reinforced growth for smaller currencies in the market. The change in the market was expected as the indicators told of an improvement that would strengthen its value. In contrast to the previous times, this weekend has proved fruitful for the market. The changes are expected to last for a while because the indicators show a strong wave of bullishness.  

1) BTC back to bullishness"

Bitcoin has seen a recovery in value after going through a testing time. The changes for it meant a massive decrease all of a sudden because it lowered to $42K. The starting point for Bitcoin trajectory was $46K, and the investors were not expecting a sudden reduction in value.

The recent data for Binance Coin shows that it has gained 1.05%. These gains are a bit higher than Bitcoin and show investor tendency. If we compare the seven-day data, the losses for Binance Coin are about 1.36%. The weekly losses might also reduce sooner. The price value for Binance Coin is in the $427.32 range

2) FLOW begins to recover:

Flow coin is amongst the bullish coins as the market has begun to gain momentum. The change came as the result of the influx of investments in the hope of gains. The recent data for Flow shows that it has gained 0.95% in 24 hours. Its losses for the last seven days are about 15.25%.

The current price for this coin is in the $6.23 range. If we take a view of the market cap value for FLOW, it is estimated to be $2,232,061,038. In comparison, its 24-hour trading volume of it was about $40,983,217. The circulating supply of it was about 357,722,074 FLOW.

XEC is still lingering in losses:

eCash hasn’t been able to recover value even though the market is enjoying the popular trend of bullishness. Its recent data shows that it has shed 0.04% in 24 hours. The lowering losses show that it might soon join the bullish coins’ list. The seven-day data shows a loss of 13.14%.  

Final Thoughts:

The improvement in the market value has been as per the predictions and has led to an improvement in global market cap value. The latest updates show that the global market cap value is about $1.99T. While experts predict that the current wave of bullishness will help it cross the previous levels. The market might see another high after the recent gains, which helped the market recover, if it happens.

2. Bitcoin Whales Continue To Buy BTC:

Despite Bitcoin’s recent price action, whales continue to buy and hold BTC. Large investors are buying Bitcoin every single day and increasing their positions despite the current uncertainty in the market. Indeed, there is a Bitcoin whale that is allocating $1 million worth of Bitcoin every single day. This shows that these investors remain bullish about the future of BTC.

Bitcoin Whales Buy  BTC:

Bitcoin’s recent price action does not necessarily show what large investors and holders are currently doing. These large Bitcoin whales are purchasing Bitcoin on a daily basis without caring about the price or Bitcoin’s performance in the market. They just simply purchase more coins every day. 

As reported by BitInfocharts, there is a Bitcoin whale that is buying $1 million worth of Bitcoin on a daily basis. Every single day he purchases close to 25 BTC and adds these funds to his wallet. These purchases do not take into consideration price fluctuations in the market.

3. Binance receives in-principle approval to operate in Abu Dhabi
The in-principle approval from the Abu Dhabi Global Market allows Binance to operate as a broker-dealer in digital assets including cryptocurrencies.

4. New York Senate Authorizes NYDFS to 'Assess' Crypto Companies
NYDFS oversees the state's landmark virtual currency license, commonly referred to as the BitLicense.

5. EU Designates ESMA as Crypto Regulator of the Region in Latest MiCA Draft. 

The Parliament of the EU has designated ESMA, the European Securities and Markets Authority, the top cryptocurrency regulator of the region in the latest draft of MiCA, the Markets in Crypto Assets regulation. The European organization would have the task of licensing crypto-related institutions and exchanges, putting national regulators under its authority.

ESMA Gets Crypto Regulatory Powers in Latest MiCA Draft
The latest draft of MiCA, the Markets in Crypto Assets regulation, has brought significant changes to the way in which cryptocurrency licenses for organizations are approved. The draft, approved by the EU Parliament, assigns the role to ESMA, the European Securities and Markets Authority, undermining the authority of institutions like the Bafin in Germany, or the CNMV in Spain on the subject.

6. Aussies Can Now Buy Luxury Cars with Bitcoin And Ethereum

Australian Crypto Exchange CoinSpot Partners Dutton Garage to let Aussies Buy Luxury Cars with Crypto.

Australia is recognized as one of the most crypto-friendly countries globally and has helped facilitate crypto adoption. One of the latest mainstream adoptions in Australia for crypto is the recent possibility for Australians to pay for luxury cars such as Porsches using Bitcoin, Ethereum, or any of the other 30 cryptocurrencies on CoinSpot.

7. Tesla Plans To Mine Bitcoin With Blockstream and Block

Electric car maker Tesla entered a bitcoin mining in partnership with blockchain firm Blockstream and Jack Dorsey’s payments firm Block. The three companies will collaborate on mining bitcoin in an open-source, solar-powered mining facility in Texas. The facility will be powered by solar power and battery infrastructure provided by Tesla.

8. Russian Ruble Recovers To Near Pre-War Levels Against Bitcoin

Russia’s ruble traded close to pre-war levels against Bitcoin (BTC) after the central bank recently pegged the falling currency against gold. The ruble had slumped to record lows against BTC in the wake of strict economic sanctions against Russia.

The ruble is trading at 3.4 million against BTC, after crashing all the way to over 5.2 million in March. It is now closer to pre-war levels of 2.9 million than it is to its lifetime lows. The recovery also follows a sharp bounce-back in ruble rates against the U.S. dollar.

9. Miami Mayor Outlines ‘Vision for Bitcoin America’ — Says We Must Integrate BTC Into Every Aspect of Society This Year

The mayor of the U.S. city of Miami, Florida, has unveiled his “Vision for Bitcoin America 2024.” Stressing that the U.S. needs to elect a pro-bitcoin president, he said “we need to integrate bitcoin into every aspect of our society” this year and “unleash the macro power of bitcoin.”