The post "Binance Returns to India Amid its Epic Conversion of ‘SAFU’ FUNDS to USDC" first appeared on 36crypto.com News.
Binance, the largest crypto exchange platform by market capitalization, has announced major milestones today with its return to India after a $2 billion penalty fine settlement with the South Asian financial ministry. In another remarkable move, Binance converted a reserved SAFU fund to USD coin which made a 3% increase in the stablecoins circulating supply.
Binance's $2 billion settlement
Binance's return to the South Asian markets comes after an earlier ban by Indian legislators on KuCoin and OKX crypto exchange sites in December 2023.
After the Indian Financial Intelligence Unit (FIU), a regulatory body came up with regulatory policies for digital assets, Binance agreed to settle the penalty and continue its business in India. Among the laws are the Prevention of Money Laundering Act (PMLA) and the VDA Taxation, a framework that will ensure that global powerhouses don’t expose the country's financial system to attacks.
Binance converts SAFU funds to USDC.
In today's Binance moves lies the SAFU funds conversion to USDC, a move made for stability and reliability, as announced by Binance's official X page.
USD Coin, a stablecoin that is currently trading at $1.00, maintains its stability through its backing up with U.S. dollar reserves of $32.6 billion, according to coinmarketcap. 
According to analysis by Etherscan, a $800 million conversion was initiated first from Ethereum, followed by $ 745 million worth of funds from BNB, and a $ 16,277 BTC conversion to the stablecoin.
Reports from CoinGecko show that USDC lies second after Tether, with market shares of 33% and 69%, respectively. This shows Binance's trust levels for the stablecoin market as a haven in situations of extreme volatility that dominate the crypto market. Binance had previously held the backup funds in BNB, Bitcoin, TUSD, and USDT, according to a release by Bloomberg.
This strategic move comes amid heavy scrutiny by the U.S. and global legislators on Binance, which led to the resignation of Changpeng “CZ” Zhao and a $4.3 billion fine. 
With Chief Executive Officer Richard Teng's strategic moves providing continued stability for the digital assets in the exchange, crypto pundits can now venture into the murky waters without fear of losses.

The post "Bitcoin Endless Rebounds: Pre-Halving Volatility Hallmark?" first appeared on 36crypto.com News.
Bitcoin slumped to $61,000 shortly after seeing bullish momentum in the $71,000 range. Why can this be a worrying sign for investors?
Following the weekend’s market downsurge, Bitcoin (BTC) marked the strengthening of the bearish sentiment, retesting at the $61k price zone. The correction bias followed a loud #BTC rebound, taking the largest cryptocurrency into the $71,000 range. A major reason behind its price decline since the 2nd of April was huge profit realizations, amounting to over $2.7 billion.
For over a month, domination has been constantly wandering between bulls and bears. Is BTC posed for a long-term recovery, or is it just another stage of the pre-halving volatility?
Bitcoin’s $71,000 Swift Recovery: Reasons
IT Tech, an author for CryptoQuant, cited the realization of enormous BTC profits as one of the crucial reasons for the cryptocurrency’s recovery.

Despite this, IT Tech noted that Bitcoin experienced a drop in selling pressure as short-term holders have stopped realizing losses on the price correction. By contrast, BTC marked increased inflows into the accumulation addresses, making their reverses hit all-time highs.

Additionally, IT Tech saw a strong BTC correlation with Tether (USDT) as a driving factor for Bitcoin’s uprising dynamics. New USDTs were minted in the recent past, which could have also contributed to BTC’s recovery above $70k. 
Apart from the technical factors, the analyst highlighted the change in long-term investors’ behavior, stressing the weakening BTC distribution. The atmosphere in the market indeed changed to more festive amidst the halving anticipation, being spurred by Greed and exchange activities. Companies from CoinMarketCap to WhiteBIT crypto exchange seem to foster the community, creating a win-win situation. 
Meanwhile, CoinDesk believes that the recent Bitcoin breakout comes from a higher-than-expected nonfarm payrolls report that highlights the U.S. economic resilience. For this very reason, upward dynamics were noted at Nasdaq, S&P 500, and gold.
Halving Correction In Action?
Even though long-term holders’ movements in the last seven days were lower than average, signaling that they were willing to hold their assets, CryptoQuant data revealed high exchange netflows. This indicates an increased selling pressure and unveils the correction, overseen by the investors. The short-term pessimism is marked via Bitcoin’s Network Value to Transactions ratio, which registered a sharp uptick.

Nonetheless, the long-term indicators reveal a neutral bias for BTC. Exponential Moving Averages of lengths 50, 100, and 200 register a straight movement ahead, while RSI remains in a bearish zone with a downtick, just as EMA 20.

Crucially, the whole crypto market slumped amidst the outburst of Iranian aggression towards Israel, bringing greater collapse for the Bitcoin price.
Long-Term Optimism
Markus Thielen, founder of 10X Research, sees $80,000 as the next closest target for Bitcoin. In a note sent to his clients on April 8, he stated:
"If the breakout is bullish, which we suspect, bitcoin could climb above 80,000 during the next few weeks – if not earlier. Buying at $69,280 and setting a stop loss at $65,000 appears appropriate".

To support Thielen’s thesis, CoinDesk noted a bullish flag pattern on the BTC/USD daily chart. A symmetrical triangle, often called a coil, represents consolidation within a narrowing price range. The market typically builds energy during the consolidation, which is eventually unleashed in the direction in which the range is resolved. More often than not, symmetrical triangles end with a bullish breakout. 
By contrast, a renowned analyst Rekt Capital predicted Bitcoin rejection from its blue Range High and foresaw the consolidation ahead.
"Bitcoin is thus sandwiched between the old all-time highs of $69000 (support) and the highs from two weeks ago of $71300 (resistance). There's scope for consolidation here going forward, “ – he wrote in his X post.

By and large, the #Bitcoin chart has all the chances to come further north, but it will be gotten through the increased volatility, as can be proven by a long-term holder’s movement.

The post "Ripple's CEO Shares Optimistic Crypto Market Prediction: Details" first appeared on 36crypto.com News.
Brad Garlinghouse expects the crypto market to double in size, totaling $5 trillion by the end of 2024. This is larger than the market cap of Amazon and Microsoft combined.
The CEO of #Ripple blockchain, Brad Garlinghouse, claimed that the combined market capitalization of the cryptocurrency market is to top $5 trillion this year, citing macroeconomic factors and upcoming Bitcoin halving. 
“I’ve been around this industry for a long time, and I’ve seen these trends come and go,” Garlinghouse said in an interview with CNBC. “I’m very optimistic. I think the macro trends, the big picture things like the ETFs, they’re driving for the first time real institutional money.”
“You’re seeing that drives demand, and at the same time demand is increasing, supply is decreasing,” Garlinghouse further clarified. “That doesn’t take an economics major to tell you what happens when supply contracts and demand expands.” 
Diving into the Context
The first U.S. spot Bitcoin ETFs were approved on January 10 by the U.S. Securities and Exchange Commission. This allowed institutions and retail investors to gain exposure to Bitcoin without directly owning the underlying asset via cryptocurrency exchanges. 
Since the approval, Bitcoin's (BTC) price increased by over 59%, reaching an all-time high of over $73,000, according to CoinGecko data. Among the metrics that spurred the growth, many cite peak exchange-traded funds’ inflows at the surge time.

Apart from macroeconomic impact, exchange-traded funds moved crypto into the spotlight of the traditional financial dimension, adding to a greater adoption of decentralized-based solutions. 
This explains the exponential growth of the Web3 projects within the first quarter and the increased attention to the altcoins. Namely, one of them, Tensor (TNSR), managed to quickly achieve listings on WhiteBIT, Binance, and other top exchanges – just like Celestia (TIA) and Near Protocol (NEAR) did in the last year.
Among the factors outlined by Garlinghouse, halving stands out. This technical event takes place roughly every four years in Bitcoin’s history and is set to half the total mining reward for BTC miners, who verify transactions and mint new coins with the use of stark computing powers.
Crucially, every halving marked Bitcoin’s price upsoar – mainly due to the increased scarcity of the asset that the event brings. Analogically, the fourth halving is expected to push BTC prices further north, which will drive the cryptocurrency market by and large. 
The last halving took place in 2020, causing #Bitcoin to reach an already-beaten milestone of over $69,000.
“The overall market cap of the crypto industry ... is easily predicted to double by the end of this year ... (as it’s) impacted by all of these macro factors,” Garlinghouse said. 
At the time of writing, the total capitalization of the crypto market counts up to over $2.4 trillion, meaning that Garlinghouse sees it to cross the $5 trillion range by the end of the year. 
Optimism in the U.S. Crypto Regulation
One of the other factors that Garlinghouse sees pushing the crypto market to new highs is the possibility of positive regulatory momentum in the United States. 
“The U.S. is still the largest economy in the world, and it’s unfortunately been one of the more hostile crypto markets. And I think that’s going to start to change, also,” Garlinghouse said.
In recent years, the U.S. civil service vertical has been indicating enforced policy towards decentralized assets and their operators. The Securities and Exchange Commission (SEC) under Gary Gensler has been the hallmark of such policy, targeting Binance, Coinbase, and Ripple itself. 
Despite this, Ripple’s CEO shares optimistic outlooks on the U.S. regulatory spotlight, which holds great significance for other states’ crypto legislation frameworks.
“One of the things I’ll say on the macro tailwinds for the industry: I think we will get more clarity in the United States,” Garlinghouse said.
The hopes for the U.S. officials to slacken the bonds are emphasized due to this year’s presidential election. Crypto hopefuls expect that the next administration will be more accommodating to the crypto industry with its policy focus. 

The post "Arbitrum Bounded Liquidity Latency Launch Sends Green Candles Amid Test Net Stage" first appeared on 36crypto.com News.
Arbitrum, an ERC-20 token, has taken market interest today after an announcement of its launch of a permissionless verification system themed BOLD on the testnet stage. This upgrade will help bolster security for the network while enhancing accessibility.
BOLD: Gearing Up for Launch on Arbitrum!
After a successful stage 1, which saw ARB's price increase by 22% in 24 hours, stage 2 has seen arbitrage pundits in a frenzy as they try to drive the price to all-time highs of $2.
ARB's BOLD core idea is a verification protocol enabling verification of transactions in the Arbitrums blockchain network by both the chosen and other users of the network. This will ensure that disputes are resolved through a streamlined process where anyone can participate. This will enable faster dispute resolution while still guaranteeing security in situations where bad actors try to mess with the system, as one honest user can always catch them and keep things safe.
To add to the dispute resolution power, BOLD brings several advantages to users of the #ARB network, among which are:
Withdrawals back to the Ethereum network are processed correctly through the new permissionless validation update.BOLD is a new strategy to slow down the network or disrupt its operations in a situation where bad actors initiate attacks.Pooled Change Funding is a BOLD strategy enabling users to contribute funds to a "defense fund," which will help fight against invalid claims and challenges on the network.
The BOLD launch is just at the beginning, as the Arbitrum team has to make sure the protocol runs smoothly before proposing it to its DAO. When the DAO gives a thumbs up on the upgrade, it will then launch on Arbitrum Sepolia, a testing environment within the network.
The DAO can then roll it out to the main Arbitrum One and Nova chains by the summer of 2024, which will see security improvements on other chains using Arbitrum Nitro software.
To support the new approach to rollups by layer 2 networks, Vitalik Buterin, the Ethereum co-founder, has released an evaluation plan to help the crypto community understand the levels of trust in rollups.
Arbitrum, which is currently trading at $1.15 as of publication by Coinstats, has shown bullish signs upon the BOLD upgrade test net stage. This shows the broader participation of the #Arbitrum community in activities in the network in recent geopolitical feuds, which have seen a slump in the broad crypto realm.
This upgrade in ARB could be a pivotal milestone in Arbitrum’s progression towards becoming a Stage 2 rollup.

The post "Solana Sees a 7.28% Surge After the Congestion Update" first appeared on 36crypto.com News.
After facing a 20% plunge this weekend, #Solana Labs came up with an update that could brief the congestion issue faced by its validator client software. Following the release of the update this morning by Solana on their official X account, a frenzy ensued among altcoin enthusiasts and the crypto realm.
Solana Update Details
“The v1.17.31 release is now recommended for general use by MainnetBeta validators. This release contains enhancements that will help alleviate the ongoing congestion on the Solana Network,” the announcement states.
The main focus of this update is the stake-weighted quality of service (SWQOS), which will enable transactions from users who have staked their tokens to be processed faster.
Tim Garcia, a validator relations lead at the Solana Foundation, took to the X platform to explain the concepts of the network upgrade. Quality of Service is a concept that acts as a traffic coordinator and directs resources, ensuring smooth performance for certain types of data packets.
The stake-weighted part of the concept of the update allows users to stake their cryptocurrency holdings, which are locked up to support network operations. This feature shares similarities with the proof-of-stake principle.
“I'm seeing a lot of confusion around stake-weighted QoS, so here is my attempt to clarify things. First of all, what is QoS? It stands for quality of service. It's a networking concept that essentially gives certain packets or connections more reliable performance on the network,” Garcia said.
The SWQOS upgrade impact is, however, supposed to be seen in the future as TPU traffic improves, but as of the time of writing, a 5% delinquency is being maintained while making these upgrades.
However, Rex St. John (man/let), a developer at Solana Labs, noted the distinction between NOT v1.18 and SWQOS on the X platform. The technical updates highlighted on GitHub involved better handling of both staked and non-staked traffic and enhancements to the "BankingStage Forwarding Filter," which smooths network processing abilities.
Solana Technical Analysis
#SOL has today shown hopes, after a 7.58% surge in the daily chart, to trade at a current price of $153.86, according to analysis by Coinstats. This price varies from its ATH of $259.96 which is a 40.62% plunge from the peak seen last on November 7, 2021, according to the CoinStats release.
As Solana celebrates its updates at a time when fast transactions are crucial amid the awaited Bitcoin halving event, one can only wait and see the future of this digital world.

The post "Ripple vs SEC News: Countdown to Settlement?" first appeared on 36crypto.com News.

As the tension and much-awaited verdict between Ripple’s battle with the US Securities and Exchange Commission (SEC) heightens, the eagerness of the public for a favorable outcome is becoming palpable. The very recent events seem to pinpoint the long-standing issue’s resolution as the two sides prepare for vital steps at the same time in the legal fight over XRP. READ ALSO: Ripple Eyes Higher Ground: Garlinghouse Unveils Stablecoin Strategy at Paris Blockchain Week
Settlement Talks Spark Speculation
On the heels of a town-hall-style settlement conference recently, the buzz is swirling on the anticipated settlement negotiations to fray in the next few days between Ripple and the US Securities and Exchange Commission (SEC). The earlier ruling by Judge Torres becomes a starting point for resolving the issue between SEC and Ripple, and the downtown of XRP greatly depends on this case.
As the XRP dispute evolves, April seems to have turned into a be-or-not outcome point for the case. Ripple's refutation of the SEC is deemed to take place on April 22nd, with the authority requesting a very harsh penalty of almost $2 billion. The results of the hearing may well not only have an impact on Jain and the argued activities but also may draw the attention of the crypto community to the work of the Committee.
Afterward, there is the "Final Pretrial Conference" on April 16th, based on the US District Court calendar for Southern New York. Yet, strange cloudiness is hanging around the functioning of this meeting, with the courtroom details listed as "TBD". Which one means that following the talks, judges are decided or are there surprises coming?
Battle Lines Drawn
However, even after the SEC case against Ripple executives Brad Garlinghouse and Chris Larsen was dismissed, the SEC continued to try an appeal that would bring their judgment. The regulatory authority is requesting an injunction, disgorgement, interest, and penalties to the tune of millions of dollars and hence this matter will most likely end in a showdown in the Courts.
Private talks, the late unfreezing of XRP, and the insider opinion on the case bring the subject settlement vivid. The level of suspense and uncertainty experienced by stakeholders ascends to its highest pitch and they are all very eager to get confirmation on a clear picture of the new regulatory view on XRP and the general landscape.
Legal Chess Moves
Past months have brought Coinbase's lawsuit against the SEC a positive end and Ripples' defenders an opportunity to call for clarification regarding secondary market dealings, this development has only contributed to the ongoing unresolved nature of the #XRP issue. When the 2nd Circuit Court of Appeals issues a denial for the SEC in another version of the case, the public is getting ready for what could be the last card in #Ripple Labs.
During the legal searches and other legal battles going on, experts from the industry are examining the consequences of ongoing litigation. Paul Grewal, Coinbase's Chief Legal Officer, stressed that it "lights the path for digital asset innovation" while widely pro-XRP analysts such as lawyer Bill Morgan speculate about the implications of such a finding on the wider crypto market.
After the cryptocurrency war between "Ripple vs SEC" comes the crypto community preparing for a change that may prove to be a landmark in the dialog between the government and the private sphere. The involvement of multi-billion dollar corporations, the lives of six astronauts, and lots more are on the line for this latest chapter of the riveting legal drama.

The post "Israel Political Turmoil Shakes Crypto Market Stability" first appeared on 36crypto.com News.
The geopolitical tussle between Iran and Israel has taken a drastic turn, affecting Bitcoin and the whole crypto market trajectory, with a bearish wave hitting with a thud. U.S. President Joe Biden stands strong with a counter-attack plan for Iran if the attack persists.
Bitcoin and Ethereum major tumble. 
#Bitcoin and Ethereum, the first and second largest digital assets by market cap, fell by 4.2% and 6.7%, respectively, according to data from Coinstats.
A 5.75% loss was experienced in the broad crypto realm, with altcoins like Solana facing a massive 20% loss, according to Coinmarketcap.
Background of the Geopolitical Fuss
According to reports from Bloomberg, Iran released a drone attack on Israel, which is a reenactment of earlier ambush missiles on Iran. Aljazeera reported approximately 300 drones and missiles launched from Yemen, Iraq, and Iran, showing the intensity of this feud.
The missile attacks have caused over 33,000 deaths, airspace closures, and a broader economic downturn as people run for safety. The Middle Eastern economy has broadly faced a downturn as neighboring countries face the risks of the conflict, which started on April 1. The U.S. White House stated its preparation for an attack on Iran, which is said to be backed up by Russia, a titan in war ammunition.
CNN predicted a harsh global economic turn if oil and gas prices rose surpassing the current inflation levels. The Dow Jones Industrial Average, Nasdaq 100, and S&P 500 Index also faced their fair share of losses, showing intensity in the issue if it lasts. Such losses are triggered by investors and traders rushing to liquidate their positions out of fear of sudden market plunges.
Israel, a heavy exporter of diamonds, integrated circuits, refined petroleum, medical instruments, and potassium fertilizers, will impact the prices of these commodities amid the tussle.
Iran stands with ethylene polymers, refined copper, acyclic alcohols, raw aluminum, and petroleum gas as its exports, which stand to rise if the war does not end soon.
Such geopolitical conflicts have earlier seen inflation in the Russia versus Ukraine conflict, which saw inflation in the broader global economy.
Amidst the awaited Bitcoin halving event scheduled between April 18th and April 20th, supposed to limit BTC availability, one can only hope digital assets stand strong and provide the necessary value amid this catastrophe.

The post "Top 3 Altcoins to Invest in Right Now: Market Analysis" first appeared on 36crypto.com News.
The altcoin market meets gaining dynamics as being pushed by the Bitcoin halving thrill. We have highlighted 3 top performers to create a share for your portfolio.
As market participants try to keep smooth sailing amidst pre-halving volatility, #altcoins respond to the tendency in ambiguous ways. Gladly, the bulls-pushed Greed has been forming a distinctive upsurge trend for the recent week, as well as many other factors to consider. 
In today’s article, we’re diving into the coins that best represent the trend and are posed for decent potential returns.
3 best altcoins to invest in right now
Toncoin (TON)
The first token on our list of altcoins to invest in is #Toncoin (TON). The native coin of the layer one Telegram Open Network has been on a stellar run, gaining over 45% through the week. 
The bullish continuation established amidst insides citing Pavel Durov, Telegram CEO, and Paolo Ardoino, CEO at Tether, are to announce USDT’s integration into Telegram Open Network at an upcoming TOKEN2049 conference in Dubai. 
As rumors kept circulating, Toncoin climbed to the 9th position among top cryptocurrencies, leaving Cardano’s ADA, AVAX, and SHIB.  
While the $5.55 level has been a local resistance for TON for the past two weeks, its price surge above $5.68 broke out amidst the increased trading volume.

The RSI has also formed lower lows throughout the past month as the price tried to break out. Notably, the buying pressure did not allow for a further Fibonacci retracement level, which was only limited to 36.8%. 
While this puts the next targets for bulls to be $7.15 and $8.05, AMBCrypto noted that TON’s price burst came amidst the positive delta of the cumulative liquidation levels, marking the long positions’ outweigh in momentum.

This paves the road for a potential reset of the excess speculative interest behind TON. The chart indicates that $7.43 was a level of interest that could be swept before a downturn.
WhiteBIT Coin (WBT)
The native coin of the WhiteBIT crypto exchange has added 10% to its value throughout the week, concluding the growth at $9.2 at the writing time. 
Remarkably, #WBT has managed to thrive amid the pre-halving volatility, marking the steady interest in the community-driven token. Meanwhile, the daily trading volume of WBT topped a quarter-year milestone of $1.2 million on April 10, 2024. 
Alongside trading volume, the Relative Strength Index (RSI) has been way further north in recent days, standing slightly above 70.

Both metrics signalize buying pressure for WBT that may logically come from the listing of Ark (ARK) and Tensor (TNSR) on the WhiteBIT exchange in recent days.  
The bullish bias is supported by Exponential Moving Averages 50, 100, and 200, which hint at the upward trend to further prevail. 
Despite a slight bearish sentiment in the market, WhiteBIT Coin (WBT) may win in a long-term sentiment, ranging between $11.34 to $13.05 in the next two months, as per AMBCrypto analysis.
Ethena (ENA)
Ethena (ENA) is the last on our list of altcoins to invest in right now. ENA, the native token of decentralized finance (DeFi) protocol Ethena Labs, has not only become the new talking point of the crypto community but indicated a blasting performance. 
Since its making-news airdrop, #ENA did not fade in its hype’s background and doubled in value, trading for $1.431 at the reporting time. The market capitalization of the asset crossed the $2 billion milestone as 5% of ENA’s total supply was airdropped to eligible holders of the ecosystem’s so-called synthetic dollar – USDe.

According to the 0xScope analysis, ENA showcased a skyrocket in purchases by whales and institutional investors in recent days, indicating a potential bullish sentiment to keep on for the coin.

Notably, ENA’s bullish trend remained amidst the selling pressure that can be indicated by recent CEX total deposits. The ones experienced a dramatic boost in recent days, reaching $9M-worth ENA withdrawn in total.

The surge in withdrawals followed the announcement of “Season 2” by Ethena Labs, which offers higher rewards for staking ENA with the protocol. Hoping to capitalize on the returns, investors racked their ENA coins out of exchanges to supply them for staking.
Moreover, according to Coinglass’ data, the Open Interest (OI) in ENA Futures surged to $372 million at press time, with over 50% of the positions gunning for the coin’s price increase, indicating investors’ hope in the asset.

Disclaimer: this article is not a financial recommendation, but a basis for your education and strategy shaping. Trade at your own risk, and always do your research.

The post "Ripple Eyes Higher Ground: Garlinghouse Unveils Stablecoin Strategy at Paris Blockchain Week" first appeared on 36crypto.com News.
Paris Blockchain Week (PBW) is a week-long event showcasing exhibitions, keynotes, workshops, and networking events in the heart of Paris.
#Ripple CEO, Brad Garlinghouse took this juncture in Europe's Leading Blockchain Conference with his promising sentiments about the future of blockchain and digital assets.
This has garnered traction from the XRP community after a 5% surge in price that led to a breach in its $0.60 resistance support level.
Garlinghouse discusses stablecoin plans and liquidity on XRPLedger
In a tweet from the CEO about discussions held at PBW, he shared the plan of Ripple to launch a USD-pegged stablecoin, which would see more stability for the digital asset.
“It’s great to be back at Paris Block Week. I joined @xrpl_commons CEO David Bchiri on stage to discuss why Ripple plans to launch a USD stablecoin later this year, growing the XRPL community, and crypto regulation (of course!)!”
He also stated that a promising future for the stablecoin market is ensured with two-and-a-half or three trillion market capitalization prospects within the next four to five years.
The Ripple executive also shared his view on the promising futuristic growth of Web3, fueled by events like the Paris Block Week. Also, he emphasized his 20 million+ influx of Web 3 developers, which would bring excitement to the crypto realm.
"It’s not about the 100,000 developers already working on Web3. The 20+ million developers have yet to work on Web 3. That's truly exciting. This industry is not going away. It's events like Paris Blockchain Week that keep growing for this reason."
Also to note was Binance's new CEO, Richard Teng, who shared their recent compliance with the SEC after settling a hefty $4.3 billion fine.
Highlights of the first day were the hackathon frenzy that drew in 250+ developers, fueled by the Solana and XRP Ledger chains. Product launches dormant with WhiteBIT, standing out as a cryptocurrency exchange utilizing a Crypto-as-a-Service service.
Beyond the cash prizes, the hackathon platform gave the winners a chance to catapult their talent into the spotlight.
Technical analysis: XRP flips $0.60 resistance
As of today's analysis, #XRP stands at a current price of $0.6156, with a bullish wave in its vicinity after a 7.35% surge in the weekly chart. A 1.53% surge in the daily time frame shows a bullish sentiment that could see all-time highs of $3.84 seen in 2018.

The post "Fantom (FTM) Sees a 7.4% Rise Amid Its Sonic Upgrade" first appeared on 36crypto.com News.
#Fantom (FTM) has brimmed today amid the stagnant crypto market, seeing a 7.4% surge in token value. Sonic Upgrade and the launch of Fantoms USDC.e stablecoin stand as frontiers behind this bullish sentiment. 
Fantom cutting-edge decentralized finance (DeFi) services have seen the digital asset gain $727,268,844 in volume, an 89.30% increase in the last 24 hours, as per a release by CoinGecko. 
USDC.e stablecoin and an upcoming network upgrade
The unprecedented Sonic upgrade is a transformation to bring the DEFI platform from its current testnet to the mainnet network. This upgrade will foresee speed improvements in its network, with speed upgrades reaching 2,000 transactions per second (TPS) from its current 3.2 transactions per second.
Not forgetting, USDC, the stablecoin that awaits its launch as a Fantoms utility token, could see a surge in price. This stablecoin will provide a traverse for Fantom and Ethereum interaction, ensuring interoperability between these networks. The stablecoin phenomenon is a new way of providing a haven for coins pegged to the U.S. dollar, has seen digital assets gain trust, and will see Fantom provide trust to its holders. 
Fantom’s future
Fantom's advanced blockchain infrastructure, its pivotal role as a seamless operation provider, and its current upgrades could see the asset's current price at $1.01 to ATH. Fantom Foundation, the team behind the DEFI platform, took to X to showcase the benefits of this step-up with this quote. 
“Marking a major milestone, this deployment paves the way for unleashing Sonic's impressive speeds on the Opera mainnet, achieving ~2,000 TPS at sub-second finality.” 
FTM got crypto developers on their heels with its proposed plan for "safe meme coin launches" on Fantom, as announced by the lead developer of the project, Andre Cronje. This is a chance for meme coins to gain stability and adoption within the Fantom network.  
With the whole crypto industry gearing up for Bitcoin Halving, an event anticipated to pull the green candle in the crypto realm, FTM investors might see more returns if the bulls favor their current trajectory.

The post "Liquidations Hit Bulls Amidst Bitcoin and Altcoins Drop" first appeared on 36crypto.com News.
Market slam before the Bitcoin halving ends up in $400 million-sized liquidations for long positions. Major cryptocurrencies slumped in the past 24 hours following Bitcoin’s (BTC) trend reversal amid selling pressure. 
Data shows that Bitcoin (BTC) fell by 5%, moving to the $65,000 price range. The dip reflected on other major tokens, dumping Ether (ETH) by over 5% and Solana (SOL) by 7% while targeting other leading altcoins.

Meanwhile, Dogecoin (DOGE) dropped by more than 8%, and Shiba Inu’s SHIB decreased by over 7%. The slam evoked longs and bets on higher prices to take on more than $400 million in liquidations, while short positions liquidated for a relatively smaller $85 million.

Blame the Halving, or Something Else?
AMBCrypto cites that the recent market slump was marked by a weak start to the week for Bitcoin spot exchange-traded funds (ETFs). Soso Value data indicates that ten new investment avenues, tracking spot BTC prices, witnessed net outflows of $85 million on April 1.

While the market was extremely volatile before Bitcoin halving, the first cryptocurrency was primarily affected by stronger-than-expected U.S. manufacturing sector data, as reported by Shivam Thakral, CEO at BuyUcoin, exclusively to AMBCrypto. 
On April 1, Manufacturing Purchasing Manager Index (PMI) data in the United States showed that manufacturing activity sharply expanded after 16 consecutive months of contraction.

“The Manufacturing PMI registered 50.3 percent in March, up 2.5 percentage points from the 47.8 percent recorded in February,” stated Timothy R. Fiore, the Institute for Supply Management (ISM) Manufacturing Business Survey Committee Chair. “The overall economy continued to expand for the 47th month after one month of contraction in April 2020. The United States manufacturing sector moved into expansion for the first time since September 2022. Demand was positive, output strengthened, and inputs remained accommodative.”
Following the update, the U.S. dollar strengthened, pushing commodities incl. Bitcoin and cryptocurrencies lower. 
Notably, the Manufacturing PMI Performance might push the US Central Bank to halt interest rate cuts in 2024, as per Bloomberg. 
The lower likelihood of the U.S. Federal Reserve cutting interest rates extrapolated on all risk-based markets, including the crypto one. Thus, Fed officials, including Christopher Waller and Raphael Bostic, have indicated a potential delay in rate cuts due to disappointing inflation data, with only a single rate cut likely in 2024. 
Apart from the crypto market, the inflation factor impacted the S&P 500 and Nasdaq Composite which also slipped lower on this development. 
In an exclusive message to CoinDesk, FxPro senior market analyst Alex Kuptsikevich stressed the tendency:
“Bitcoin's fourth attempt to consolidate above $71K this week was unsuccessful. The Nasdaq100 also showed some downward bias, indicating a cautious attitude toward risky assets, although the S&P 500 closed at another high. Bitcoin has thus found strong resistance, and the $69.5K and $68.5K levels attract our increased attention”
While Bitcoin is currently maintaining the support range just as most altcoins do, the market is remaining in the Greed zone. This could accelerate the prices in the market, pushing crypto further north.

The post "Binance Halts Bitcoin NFTs, Streamlining Strategies or Market Evolution?" first appeared on 36crypto.com News.
In the rapidly evolving landscape of cryptocurrency and NFTs, Binance has made a strategic decision to discontinue support for #Bitcoin Ordinal NFTs on its marketplace. This move, aimed at streamlining product offerings, raises questions about the future of Bitcoin-based digital collectibles and their broader market impact. Let's delve deeper into this development.
End of an Era: Binance's Decision to Cease Bitcoin NFT Support
Binance's announcement to halt support for Bitcoin Ordinal NFTs signals the end of an era for these unique digital assets on its platform. With trading and deposit support set to end in April, users are urged to withdraw their NFTs by a specified deadline.
Bitcoin Ordinals revolutionized the NFT space by leveraging the capabilities of the Taproot upgrade to embed data onto individual satoshis, the smallest unit of Bitcoin. This innovation allowed for the creation of unique digital collectibles directly on the Bitcoin blockchain, expanding its utility beyond just a digital currency.
Impact on the Broader Market
While Binance's decision may initially seem like a setback for Bitcoin Ordinal NFTs, experts believe the broader market impact will be limited. Most Ordinals trading occurs on alternative platforms, mitigating the immediate impact of Binance's move. Moreover, this decision could pave the way for other #NFTs to gain prominence in a less crowded market.
Future Outlook: Resilience and Adaptation
Despite Binance's withdrawal of support, the future outlook for Bitcoin Ordinal NFTs remains resilient. Other platforms continue to facilitate their trade, ensuring their ongoing presence in the digital collectibles market. Binance's strategic shift underscores the evolving nature of the NFT landscape and highlights the need for adaptation to emerging trends and market dynamics.
In conclusion, while Binance's decision may mark the end of a chapter for Bitcoin Ordinal NFTs on its platform, it also reflects the evolving strategies and dynamics within the broader NFT market. As the industry continues to evolve, adaptability and innovation will be key drivers of success in the ever-changing world of cryptocurrency and digital collectibles.

The post "PayPal Introduces PYUSD to USD for International Transfers Via Xoom" first appeared on 36crypto.com News.
#PayPal takes a groundbreaking leap into the crypto realm by unveiling PYUSD to USD conversions, facilitating zero-fee international transfers through its Xoom service. This strategic move aligns with PayPal's vision of reducing costs and enhancing accessibility in cross-border transactions, echoing the World Bank's call for more affordable remittance solutions.
Driving Cryptocurrency Adoption
The integration of PYUSD into cross-border payments underscores PayPal's commitment to catalyzing mainstream cryptocurrency adoption. José Fernandez da Ponte, PayPal's SVP of blockchain, crypto, & digital currency, emphasizes the company's mission to integrate crypto assets seamlessly into everyday transactions, positioning PayPal as a frontrunner in the crypto space.
"Enabling U.S. users of Xoom the option to fund cross-border money transfers using PYUSD builds on our goal of driving mainstream adoption of cryptocurrencies while also offering an easy way to securely send money to friends and family at a lower cost," he said.
While PayPal's foray into stablecoins heralds a new era of financial innovation, it also navigates regulatory complexities. The stablecoin landscape has faced intense scrutiny, exemplified by Meta Platforms' Diem project's setback. Despite regulatory hurdles, PayPal remains steadfast in its commitment to advancing PYUSD as a reliable and compliant stablecoin option.
Competition and Collaboration
As PayPal pioneers PYUSD, it enters a dynamic stablecoin market dominated by Tether and Circle's #USDT and #USDC. However, with the imminent launch of Ripple's USD-denominated stablecoin and other entrants like Deutsche Bank's DWS Group, the stablecoin sector promises fierce competition and collaboration, driving innovation and choice for consumers.
Despite legal challenges and regulatory scrutiny, PayPal's PYUSD initiative symbolizes a paradigm shift in global remittance and financial transactions. By leveraging blockchain technology and stablecoins, PayPal aims to revolutionize cross-border transfers, foster cryptocurrency adoption, and usher in a new era of financial efficiency and inclusivity.

Amid regulatory challenges and legal battles, Ripple announces the launch of a USD-backed stablecoin, propelling XRP's momentum.
Ripple's Major Announcement
Ripple, the sixth-largest cryptocurrency, gains momentum following the announcement of its stablecoin pegged 1:1 to the USD. The stablecoin will operate on both the XRP Ledger and the Ethereum blockchain, showcasing Ripple's expansion into the stablecoin market.
XRP Price Surge and Speculation
#XRP price surged nearly 5% in response to the news, prompting speculation on whether XRP will break the $1 mark. Despite regulatory hurdles, the cryptocurrency community remains optimistic about XRP's potential for growth.
Ripple's native crypto, XRP, has faced regulatory scrutiny from the US Securities and Exchange Commission (SEC), resulting in price volatility. Despite a 4% decline on a year-to-date basis, XRP's recent surge signals resilience in the face of regulatory challenges.
Market Analysis and Technical Outlook
Technical analysis suggests that XRP may have bottomed out, with the altcoin's Relative Strength Index (RSI) indicating a potential buying opportunity for traders. XRP's price movement is anticipated to fill the Fair Value Gap (FVG), potentially leading to a resurgence towards the $1 mark.
Ripple's CEO, Brad Garlinghouse, emphasizes the company's commitment to bridging traditional finance with crypto, highlighting Ripple's regulatory expertise and strong balance sheet. Meanwhile, Ripple's Chief Legal Officer, Stuart Alderoty, challenges the SEC's comments on crypto lawsuits, underscoring the ongoing legal battle between Ripple and the SEC.

As #Ripple navigates regulatory challenges and legal battles, the launch of its USD-backed stablecoin signifies a strategic move towards enhancing utility and liquidity on the XRP Ledger. Despite market fluctuations and regulatory uncertainty, XRP's resilience and potential for growth remain intact, with investors closely monitoring its journey towards $1 amidst the legal battle with the SEC.

The post "Bitcoin Realized Cap Hits Record High Amid Unprecedented Capital Inflows" first appeared on 36crypto.com News.
On-chain data reveals a remarkable surge in Bitcoin's Realized Cap, reaching an all-time high (ATH) as capital pours into the cryptocurrency at unparalleled rates. Glassnode's latest weekly report highlights this trend, shedding light on the significant rise in Bitcoin's Realized Cap.
Understanding Realized Cap
The Realized Cap model calculates Bitcoin's total value based on the assumption that the value of individual coins in circulation is equivalent to their last transfer price on the blockchain. This metric provides insights into the total capital invested by Bitcoin investors. As depicted in the graph, the Realized Cap has experienced a sharp upward trajectory, aligning with the asset's price rally.

The surge in Realized Cap can be attributed to increased trading activity among investors amid the price surge. Long-term holders are capitalizing on profits by selling their coins, resetting the cost basis of their holdings to current high price levels. This influx of fresh demand and liquidity into the asset class indicates heightened market activity.
Also, the recent approval of Bitcoin spot exchange-traded funds (ETFs) has played a pivotal role in driving unprecedented capital inflows into the cryptocurrency. Since their approval in January, spot ETFs have continuously absorbed BTC supply, fueling explosive demand unseen before in Bitcoin's history.
Bitcoin Price Action
Despite recent price drawdowns, with #Bitcoin trading at around $66,100 according to Coinstats data. The asset's fundamentals remain robust, buoyed by the influx of capital and growing market activity.
The surge in Bitcoin's Realized Cap reflects the growing investor interest and capital inflows into the cryptocurrency market. With spot ETFs reshaping the investment landscape, Bitcoin's trajectory continues to defy expectations, underscoring its resilience and potential for further growth in the digital asset space.

The post "Coinbase CLO Aligns with 'Crypto Mom' on SEC Critique" first appeared on 36crypto.com News.
SEC Commissioner Hester M. Peirce, often dubbed "Crypto Mom," recently raised concerns about the Securities and Exchange Commission's (SEC) approach to rulemaking and public engagement at the annual "SEC Speaks" event,  Coinbase's CLO recently agrees. She criticized the lack of clarity in rule proposals and the diminishing opportunities for direct interaction between the SEC and the public.
Coinbase's Chief Legal Officer Agrees
Paul Grewal, Coinbase's Chief Legal Officer (CLO), echoed Commissioner Peirce's sentiments, highlighting the decreasing avenues for productive dialogue with the SEC. Coinbase, a long-time advocate for clearer regulatory guidelines in the digital asset space, sees Peirce's observations as crucial for fostering a more collaborative regulatory environment.
Coinbase's support for Peirce's remarks underscores the industry's ongoing efforts to advocate for legal certainty in the crypto space. Clear regulatory guidelines are essential for fostering innovation and investor protection while ensuring compliance with existing laws.
Legal Battles and Regulatory Clarity
Coinbase's legal battles with regulatory authorities reflect the broader industry's struggle for regulatory clarity. The exchange has petitioned for clear rules on digital assets, seeking to navigate the regulatory landscape effectively. However, its efforts have faced resistance from the SEC, leading to ongoing legal disputes.
Federal Court Decision
A notable legal development occurred when U.S. District Judge Katherine Polk Failla allowed the SEC's lawsuit against Coinbase to proceed. However, the judge dismissed the claim that Coinbase operated as an unregistered broker, signaling a nuanced legal battle between the exchange and regulatory authorities.
As the crypto industry continues to evolve, the need for clear regulatory guidelines becomes increasingly apparent. Coinbase's alignment with Commissioner Peirce's critique highlights the importance of fostering constructive dialogue between regulatory bodies and market participants to ensure a regulatory framework that promotes innovation and protects investors.

The post "Shibarium's KNINE Secures New Listing on BitMart Amid 55% Dip" first appeared on 36crypto.com News.
K9 Finance (KNINE), a pivotal token linked to Shibarium's Liquid Staking Derivatives (LSD) platform, secures a significant listing on BitMart despite the recent crypto market downturn. The leading centralized exchange (CEX), announces the listing effective April 2, 2024, marking KNINE's second major exchange debut.
Shibarium's Liquidity Surge
The listing aligns with Shibarium's recent milestone achievement, witnessing a quadruple surge in total value locked (TVL) within days. The blockchain's TVL spiked to $3.9 million on March 26, 2024, highlighting the importance of integrating promising projects to bolster on-chain liquidity.
Excitement Builds Around K9 Finance
As KNINE's listing on BitMart unfolds, anticipation grows around the upcoming launch of K9 Finance's decentralized application (dApp). Positioned as a Liquid Staking Derivatives (LSD) project on Shibarium, K9 Finance boasts a star-studded team, including key Shiba Inu members Shytoshi Kusama, Lucie, and Kaal Dhairya. Scheduled for a Q3 2024 release, the K9 Finance dApp aims to replicate the success of Ethereum's Lido Protocol, facilitating dynamic staking on Shibarium.
Buzz, a co-founding member of K9 Finance DAO, provides a glimpse into the upcoming staking platform, hinting at the integration of Shiba Inu's BONE token. The platform plans to distribute rewards in knBONE to approved K9 Finance DAO validators, further incentivizing participation in the ecosystem.
Significance Amid Market Volatility
Amidst the market turmoil, KNINE's listing underscores the resilience and potential of the Shiba Inu ecosystem. Adopting promising projects like K9 Finance during bearish cycles provides traders with discounted trading opportunities and contributes to the long-term growth and sustainability of the DeFi space.
By embracing innovation and fostering collaboration, Shibarium and its affiliated projects continue to chart a course toward a more robust and dynamic decentralized ecosystem.

The post "U.S. Government Shocks Market, Transfers $2 Billion BTC to Coinbase" first appeared on 36crypto.com News.
The U.S. government has executed a monumental transfer of 30,175 BTC, valued at nearly $2 billion, to a wallet reportedly linked to Coinbase. This unprecedented move has sent shockwaves through the cryptocurrency community, sparking intense speculation about its implications.
A Significant Transaction
The transfer, initiated on April 2, marks a historic milestone in the realm of digital assets. Detected by renowned on-chain analyst ZachXBT, this high-profile transaction has garnered widespread attention, underscoring its significance in the crypto world.
The bitcoins in question are part of a cache confiscated by the U.S. government in late 2022, stemming from their association with the notorious Silk Road marketplace. The involvement of these assets, long tied to one of the most infamous chapters in cryptocurrency history, adds an intriguing layer to the unfolding saga.
Coinbase Connection
Notably, the recipient wallet, reportedly belonging to Coinbase, suggests a potential government-backed move to liquidate or exchange the seized bitcoins. This revelation has fueled speculation within the crypto community, with observers eagerly awaiting further developments.
The announcement of this transfer initially triggered a minor dip in Bitcoin’s price, momentarily breaching the $65,000 mark. However, the cryptocurrency quickly rebounded, underscoring the resilience of the digital asset market in the face of significant events.
Government Strategy
The motives behind the U.S. government’s decision to move these bitcoins remain shrouded in mystery. Analysts speculate on various scenarios, including the possibility of a strategic sale or retention of the assets. The government’s past actions, including a substantial Bitcoin auction in March 2023, offer tantalizing clues but leave many questions unanswered.
The recent transfer underscores the growing role of governments in the digital asset space and raises crucial questions about the handling of seized cryptocurrencies. As regulatory scrutiny intensifies, stakeholders closely monitor government actions for insights into future market trends.
Looking Ahead
As the dust settles on this historic transaction, all eyes remain on Coinbase and the broader cryptocurrency ecosystem for further developments. The U.S. government’s decision regarding the fate of these bitcoins could have far-reaching implications for the digital asset market, shaping investor sentiment and market dynamics in the days to come.
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The U.S. government’s transfer of $2 billion worth of bitcoins to Coinbase marks a watershed moment in the evolution of the cryptocurrency landscape. With speculation rife and uncertainty looming, the crypto community braces for what lies ahead, navigating the turbulent waters of regulatory oversight and market volatility with vigilance and anticipation.

The post "BTCPay Server Foundation Receives $100k Grant From Tether" first appeared on 36crypto.com News.
Tether, the powerhouse behind the US dollar-pegged cryptocurrency USDT, has made a substantial announcement. The organization revealed that it has granted a remarkable sum of $100,000 to the BTCPay Server Foundation.
This foundation is renowned for its creation of the world's most popular open-source payment processor software, facilitating transactions in both Bitcoin and USDT on Liquid. This move has sent ripples of excitement throughout the cryptocurrency landscape, signaling a growing demand for merchant-related crypto payments in today's market.
Driving Technological Advancements
Tether's decision to extend this grant to the BTC Pay Server Foundation underscores its recognition of the pivotal role played by Free and Open Source Software (FOSS) in propelling technological progress. By democratizing access to cutting-edge technologies, Tether aims to fuel the development of open-source payment gateways, enhancing accessibility, efficiency, and security for users worldwide.
Tether's CEO Speaks Out
Paolo Ardoino, the CEO of Tether, emphasized the organization's commitment to the open-source community and its belief in the transformative power of technology. He expressed Tether's vision of investing in the future of digital payments and empowering developers to craft innovative solutions that meet the evolving needs of users globally.
Gratitude from BTCPay Server Foundation
R0ckstar Dev, a core contributor and founding member of the BTC Pay Server Foundation, expressed deep gratitude to Tether for recognizing the foundation's significance as a Bitcoin FOSS project. He hailed the generous grant, stating that it empowers the foundation to focus on its mission of enabling anyone to accept Bitcoin, irrespective of geographic, political, or financial barriers.
A Strategic Vision
Tether's partnership with the BTC Pay Server Foundation marks a significant milestone in its journey to bolster and enhance the FOSS community. This collaboration underscores Tether's strategic vision and dedication to nurturing a financial era characterized by accessibility and fairness for all participants in the global crypto landscape.
Tether's generous grant to the BTC Pay Server Foundation signals a bright future for Bitcoin and USDT payments. As the cryptocurrency ecosystem continues to evolve, such initiatives play a crucial role in driving innovation and expanding the reach of digital payments. With Tether's support, the BTC Pay Server Foundation is poised to further revolutionize the world of open-source payment processing, empowering users and merchants alike.

The post "Ethereum Nears 3-Year Low vs. Bitcoin Amid Market Slump" first appeared on 36crypto.com News.
Ethereum (ETH) finds itself at a critical juncture as it grapples with maintaining its position against Bitcoin (BTC) amidst a tumultuous period in the cryptocurrency market. The recent downturn, which began on Monday, has intensified pressure on Ethereum's price relative to Bitcoin, with significant implications for both assets.
The Ratio Decline
Data from TradingView reveals that Ethereum is currently trading at less than 0.05 BTC, marking a notable decline in the ETH/BTC ratio. At the time of writing, Ethereum is valued at 0.04961 BTC, a level not seen since January.
The current drop in the ETH/BTC ratio mirrors similar occurrences in the past, notably in January following the launch of #Bitcoin ETFs. Conversely, Ethereum experienced a surge in April 2021, reaching as high as 0.078 BTC within a month.
Market Dynamics
Since mid-March, Ethereum has steadily ceded ground to Bitcoin, particularly after Bitcoin's record-breaking rally above $73,000 followed by corrective movements. Both assets have remained relatively stable recently, with diminished inflows to Bitcoin spot ETFs noted.
In the wake of the recent market downturn, Bitcoin has retreated from $71,200 to $65,300, while Ethereum has seen a decline from $3,600 to $3,250 over the same period.
Expert Insights
Alex Thorn, Head of Research at Galaxy Digital, has suggested that ETH/BTC may have further room to fall before reaching yearly lows. He attributes this outlook to the impending Bitcoin halving, which he views as a positive factor for BTC, and potential rejections of Ethereum ETFs, which could negatively impact ETH.
As #Ethereum navigates the challenges posed by its declining ratio against Bitcoin, market participants closely monitor developments in both assets. The interplay between Bitcoin's performance, regulatory dynamics, and Ethereum's fundamental strengths will likely shape the trajectory of the ETH/BTC ratio in the coming days.
The struggle of Ethereum against Bitcoin underscores the inherent volatility and complexity of the cryptocurrency market. While Ethereum faces near-term challenges, its long-term potential remains significant, driven by its robust ecosystem and technological advancements.
As the crypto market continues to evolve, investors and enthusiasts alike await further developments with keen interest, cognizant of the dynamic interplay between Ethereum and Bitcoin in shaping the broader digital asset landscape.