WageCan Weekly Headlines 2021 W15

Date: 04/13/2021

“Bitcoin fills the digital reserve-asset need in a low-yield world.” — Yassine Elmandjra

Weekly Headline News

1. Inside Sweden’s ambitious plan to turn the krona into a digital currency — and fend off the rise of crypto coins
FORTUNE

2. Bitcoin News Roundup for April 12, 2021
Coindesk

3. Europe’s Investment Bank Plans to Settle Bonds in Euros Using Blockchain: Report
Coindesk

4. Record BTC weekly close, Ethereum all-time high: 5 things to watch in Bitcoin this week
Cointelegraph

5. Bitcoin is ‘caged bull’ ready to escape at $60K — Bloomberg Intelligence
Cointelegraph

6. Binance Coin (BNB) market cap passes Santander and UBS — What’s next?
Cointelegraph

7. Bitcoin on-chain data suggests no bull market top at $60K, selling activity declining
Cointelegraph

8. Watch these key technical levels as Bitcoin price nears $61,800 all-time high
Cointelegraph

9. Bitcoin suddenly hits $60K as a new resistance battle liquidates $850M
Cointelegraph

10. XRP futures open interest reaches $1.2 billion record
Cointelegraph

Summary

Inside Sweden’s ambitious plan to turn the krona into a digital currency — and fend off the rise of crypto coins

● Sweden’s central bank is on a course to develop and road-test its digital currency offering, e-krona, as it seeks to become a global leader in the fast-changing world of blockchain-technology–led currencies. The architects behind the Riksbank’s e-krona project spoke to Fortune this week about their plans to pilot a digital version of the country’s storied currency. If the project proves successful, the digital currency will be added to the mix of other payment types already in place in the famously tech-savvy country and will serve to protect the Swedish krona against the rise of decentralized cryptocurrencies.

Bitcoin News Roundup for April 12, 2021

● Today’s stories:

1. S&P 500 Futures Slip After Index Hits Record

2. Crypto Firm Circle Hires Disparte From Facebook-Backed Diem

3. ETFs Could Rock the Bitcoin World

4. Jay Powell says the US economy is at an ‘inflection point’

5. JPMorgan Testing Blockchain Solution to Improve Transfers With Taiwanese Banks

6. XRP Doubles in 7 Days, Heads for Biggest Weekly Gain Since December 2017

7. Binance Allows Users to Trade Tokenized Stock Tokens Starting With Tesla

8. Biden Administration Concerned Over Long-Term Effects of Digital Yuan: Report

9. Topps to Launch Official MLB NFTs in Bid to Best NBA Top Shot

10. MicroStrategy Says Some of Its Board Directors to Be Paid in Bitcoin

11. Peter Thiel Defines Bitcoin’s Accidental Role in Global Politics

Europe’s Investment Bank Plans to Settle Bonds in Euros Using Blockchain: Report

● The European Union’s lending wing is reportedly planning to trade, settle and sell digital bonds using blockchain technology. According to a Tuesday Bloomberg report, the European Investment Bank (EIB) tasked Goldman Sachs, Banco Santander SA and Societe Generale AG with assessing the feasibility of settling and registering the bonds using the nascent tech.

Record BTC weekly close, Ethereum all-time high: 5 things to watch in Bitcoin this week

● It’s a sea of green across cryptocurrency on Monday as all-time highs come back within reach for Bitcoin. After a weekend in which the largest cryptocurrency avoided a correction, Monday is looking bullish — but what could shape price action in the short term? Here are five factors to keep an eye on for Bitcoin traders as the market inches closer to historic all-time highs.

1. Stocks reflect coronavirus mayhem

2. Breakout on the cards for Bitcoin

3. Coinbase punctuates booming on-chain indicators

4. Ether sees fresh historic peak in altcoin surge

5. Coinbase outflows reinforce institutional buy-in narrative

Bitcoin is ‘caged bull’ ready to escape at $60K — Bloomberg Intelligence

● According to senior commodity strategist Mike McGlone, who eyed a declining BTC supply coupled with roaring demand from new investors, Bitcoin has far to go before it reaches a cycle top or ”plateau…. Still in Price-Discovery Mode, Bitcoin Plateau Appears Distant — Bitcoin supply is declining and demand is rising, leading us to expect continued price appreciation and the establishment of a higher plateau as the crypto matures.”

Binance Coin (BNB) market cap passes Santander and UBS — What’s next?

2021 has been an impressive year for Binance Coin (BNB), which so far has rallied by more than 900%, which makes the token’s $64 billion market cap larger than Santander, the Bank of Montreal and UBS. Some analysts point to the estimated value and impact of Coinbase’s upcoming direct listing ($100-billion valuation) as a catalyst for the BNB price hike.

Bitcoin on-chain data suggests no bull market top at $60K, selling activity declining

● Bitcoin on-chain data reveals that speculators and long-term holders have become increasingly confident of higher prices as their selling activity has slowed down significantly. For the very first time in a Bitcoin bull market, not only long-term investors but also short-term speculators who usually add to the daily sell pressure toward the end of a market cycle have become increasingly confident of higher prices as they hold on to their Bitcoin. This only adds to the already existing supply shock. If demand remains strong, this is a recipe for another leg up for the BTC price.

Watch these key technical levels as Bitcoin price nears $61,800 all-time high

● Bitcoin broke above $61,000 for the first time since early March and traders are turning bullish. The price of Bitcoin has surpassed $61,000 on April 10 for the first time in nearly a month. Following the breakout, traders are starting to look at new levels of resistance and support in the short-term as optimism returns to the market. Raoul Pal, the CEO of Global Macro Investor, emphasized that the macro view of Bitcoin remains positive. Pal emphasized that Bitcoin broke out of a three-month range, which indicates that BTC’s technical momentum is starting to regain steam. In the short term, Bitcoin would likely outperform altcoins if it continues to rally, and the momentum would only shift to altcoins once BTC consolidates as it finds a new range after breaking new highs.

Bitcoin suddenly hits $60K as a new resistance battle liquidates $850M

● Bitcoin returned to $60,000 on April 10 as a bout of long-overdue volatility hit the market in line with analysts’ expectations. BTC/USD reaches $61,000 for the first time in almost one month in a fresh burst of bullish market action. Decentrader analyst Philip Swift wrote in a market update, “Other indicators and fundamentals are suggesting that we are not yet at the end of the market cycle.”

XRP futures open interest reaches $1.2 billion record

● Positive news regarding the Ripple–SEC lawsuit saw XRP’s price rally above $1 and its futures open interest to reach an all-time high. On Tuesday, Ripple Labs was granted access to the SEC’s documents “expressing the agency’s interpretation or views” on the subject of crypto assets. Such news coincided with an explosive 75% rally in 30 hours, causing XRP to cross the $1 mark for the first time since March 2018.

All you need to know about Blockchain, and occasionally some announcements for WageCan’s services.