Gate.io Global Hiring Underway | Musk Says He Still Holds and Won_t Sell BTC, ETH and DOGE | HSBC Announces Presence at Sandbox | Ukraine Fully Legalizes Crypto Industry

2022-03-18, 11:08

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TA Highlight

The cryptocurrency market was stable and up this week.
After the Fed announced a rate hike, the cryptocurrency market did not show the expected plunge. Instead, it showed an upward trend after a few fluctuations.

At the daily level, the bitcoin spot price has shown a clear contraction triangle from February 28 to now, and although the price is falling in constant oscillation, the bottom support is very strong.

bitcoin spot price support has been above $38,000 during this period. And the market has failed to break through that price support line on multiple probes. At the same time, the MACD curve and EWMA long and short lines have shown a scorching bond during this time. It indicates that the market is more fiercely contested between the long and short sides, and the price is sticky.

Combined with the bitcoin spot trading volume for this cycle, it can be found that bitcoin is in an active trading state this week. The end of the bearishness is the end of the positive, and the bitcoin price this cycle seems to be in line with this rule.

Crypto Alerts

Musk: Still own and will not sell bitcoin, Ether or Dogecoin
Tesla CEO Elon Musk tweeted in response to netizens, "With high inflation, it's better to own a physical object like a house or company stock than a company with a good product. I still own and will not sell my bitcoin, ethereum or dogcoin."

Yuga Labs officially launches ApeCoin
Bored Ape Yacht Club (BYAC) NFT ecosystem-related token ApeCoin (APE) is officially launched.ApeCoin is a token for culture, gaming, and commerce used to build decentralized communities at the forefront of Web3.

ApeCoin is owned and operated by the decentralized organization ApeCoin DAO where each token holder can vote on the governance and use of the ecosystem fund.

Holding ApeCoin is the only requirement for membership in the ApeCoin DAO. The DAO is supported by the Ape Foundation, which was created to act as the legal steward of ApeCoin and to manage the decisions made by the ApeCoin DAO community.

MetaMask to launch DAO and release Tokens
ConsenSys, an ethereum infrastructure development company, announced Tuesday that MetaMask, an ethereum wallet, now has more than 30 million monthly active users and that MetaMask has grown 42% in the past four months, ConsenSys said in a statement, adding that the global user base relies on MetaMask to cast and collect NFTs, join DAOs and participate in DeFi protocols.

The United States, Philippines, Brazil, Germany and Nigeria are the most active markets for MetaMask. In addition, as part of achieving its goals, MetaMask will soon launch a DAO, said Joe Lubin, CEO of ConsenSys, in the context of MetaMask, which is now forming a DAO that will not manage MetaMask but will fund the creation of new MetaMask.

Lubin did not provide any information about the More details on the DAO or release date, but confirmed that MetaMask will release Tokens.

Market Updates

Mark Zuckerberg: Working on bringing NFT to Instagram
Meta (former FaceBook ) CEO Mark Zuckerberg said at South by Southwest that they are working on bringing NFT to Instagram in the short term, however, he was not ready to to announce the specifics.

Zuckerberg hopes that within the next few months, Instagram members will be able to cast their own NFTs in the app, according to Casey Newton, a writer for The Verge's Platform Gaming newsletter.

HSBC announces its presence in The Sandbox
The Sandbox has announced a partnership with HSBC, which has become the first global financial services institution to enter The Sandbox.

HSBC is said to have acquired a plot in The Sandbox metaverse with the aim of interacting and connecting well with sports, eSports and gaming fans.

Suresh Balaji, Chief Marketing Officer, Asia Pacific, HSBC, said: "The metaverse is how people experience the next generation of the Internet Web3 using immersive technologies such as augmented reality, virtual reality and extended reality. Through our partnership with The Sandbox, we are entering the virtual world, allowing us to create innovative brand experiences for new and existing customers."

Bill Gates: Individuals Should Not Invest in bitcoin Unless Your Name Appears on Rich List
Microsoft co-founder Bill Gates warned individuals not to invest in bitcoin unless their names appear on the Forbes Rich List. He pointed to the cryptocurrency's high volatility and decentralized system, saying bitcoin's value could be affected by something as simple as a tweet from Tesla and SpaceX CEO Elon Musk.

Bill Gates said Musk has a lot of money and he's very sophisticated, so he's not worried about his bitcoin going up or down randomly. He does think that people who get into this kind of mania probably don't have that much free money to spend around, so he is not bullish on bitcoin.

He continued adding that "If you have less money than Musk, you should probably be careful." Meanwhile, the Microsoft co-founder spoke highly of cryptocurrencies, stressing that digital currencies are a good thing when it comes to funding poor countries.

Global Headlines

Ukraine fully legalizes crypto industry, banks to open accounts for crypto companies
The official account of the Ministry of Digital Transformation of Ukraine tweeted that Ukraine has legalized the crypto industry. It also explained that President Zelensky signed a law. From now on, foreign and Ukrainian cryptocurrency exchanges will operate legally, and banks will open accounts for crypto companies.

EU Parliament Votes Against PoW Ban
On March 14, the European Parliament's Economic and Monetary Affairs Committee voted 30 to 23, with 6 abstentions, against one of the versions of the Market for Crypto Assets (MiCA) bill.

This bill aimed to ban those cryptocurrencies that use the POW (proof of workload based) mechanism from circulating in the EU. The rejection of this version means that those committee members who want cryptocurrencies to follow sustainability standards have work to do.

It is also a huge relief for the crypto industry, whose representatives had previously expressed their displeasure over the tough regulatory proposal.

U.S. Senator Announces Sanctions Bill Targeting Foreign Cryptocurrency Companies
U.S. Senator Elizabeth Warren announced a new bill Thursday that would target foreign cryptocurrency companies.

Cryptocurrency companies are prohibited from doing business with sanctioned companies. The Digital Asset Sanctions Compliance Enhancement Act, introduced with Senators Jack Reed, Mark Warner and Jon Tester, among others, would allow the U.S. president to add non-U.S. based cryptocurrency companies to the sanctions list if they support sanctions evasion.

Warren said it is a bill that would authorize the president to sanction foreign countries that do business with sanctioned Russian entities Warren announced the bill during a Senate Banking Committee hearing on how cryptocurrencies are being used for illicit finance.