🔽Crypto ATM Numbers Drop by 13.91% Since December 2022, Over 3,600 Went Offline in March

In January, 1,587 crypto ATMs went offline, marking the second time a large number of machines had gone offline since the loss of 399 crypto ATMs in September 2022.

A total of 275 cryptocurrency ATMs went offline in February. The largest decline was recorded in March, according to Coin ATM Radar statistics, which indicated a drop of 3,627 crypto ATMs.

The loss in March coincided with the recent General Bytes hack that occurred on March 17 and 18, which resulted in the theft of more than $1.5 million in crypto.

📌General Bytes machines account for 28.5% of all machines globally, and devices manufactured by Bitaccess represent 20.2% of the market share. Genesis Coin ATMs represent 17% of the machines worldwide, while Coincloud devices account for 12.7%.

As of Saturday, April 1, 2023, the United States has the highest number of crypto ATMs worldwide, followed by Canada, Australia, and Spain.

🇨🇳China Ready to Talk Asian Monetary Fund to Cut Dollar Dependence, Malaysia Says

An idea to establish an Asian Monetary Fund has caught the attention of the Chinese leadership, the head of the Malaysian government revealed. The prime minister believes there is no reason for his country, which is hurting from a strong U.S. dollar, to remain dependent on the greenback.

🟢China is open to talks with Malaysia on a decades old proposal to set up an Asian Monetary Fund that can reduce reliance on the U.S. currency

Anwar, who also serves as Malaysia’s minister of finance, pitched the idea at the Boao Forum last week when he emphasized on the need to cut dependence on the International Monetary Fund (IMF) as well. On Tuesday, he told Malaysian lawmakers:

🗣️When I had a meeting with President Xi Jinping, he immediately said, ‘I refer to Anwar’s proposal on the Asian Monetary Fund,’ and he welcomed discussions.

‼️Chatgpt Pretty Intelligent, Did Not Recommend Bitcoin, Peter Schiff Tweets

Economist Peter Schiff praised the artificial intelligence of the Chatgpt assistant for omitting bitcoin in a suggested “recession-proof” portfolio. The long-time gold proponent commented on a report claiming the chatbot has recommended “massive allocations” in precious metals.

Rigorous crypto opponent Peter Schiff took to social media to highlight a recent report revealing that Openai’s Chatgpt has not considered bitcoin as an option when prompted to advise about a recession-resistant investment portfolio.

The referenced experiment has been conducted by a platform offering information on gold IRA (individual retirement account) investments. According to a blog post, the artificial intelligence (AI) chatbot was asked to produce example allocations “resistant to boom and bust cycles.”

According to a press release by Gold IRA Guide, Chatgpt suggested diversification across a range of cash-like assets and commodities. The mix included defensive stocks, bonds, cash, and precious metals to create a “truly recession-resistant portfolio.”

The announcement details that the allegedly “ideal model” included 40% bonds, such as fixed-income government and corporate bonds, and 30% blue chip stocks like healthcare, utilities, and essential consumer goods. For cash and its various equivalents — U.S. dollars, money market funds, and certificates of deposit — were reserved as 10% of the portfolio.

Gold and other precious metals, in the form of physical and “paper-backed” gold and silver assets, including gold ETFs and mining stocks, got 20%. “This figure far exceeds the number proposed by prominent ‘gold bug’ wealth managers such as Ray Dalio and Peter Schiff,” the authors remarked.

✔️Bitcoin, Ethereum Technical Analysis: BTC Hits $30,000 on Tuesday, as THE Nears $2,000

🟢Bitcoin moved above $30,000 on April 11, as bullish sentiment returned to cryptocurrency markets.

🔝Bitcoin (BTC) raced above $30,000 for the first time in ten months, as markets reacted to the latest inflation data from China.

🟢Consumer prices in China rose by 0.7% in March, which is the slowest increase since September 2021.

🟢Following a low of $28,189.27 to start the week, BTC/USD raced to an intraday high of $30,160.48 earlier today.

In addition to this, the relative strength index (RSI) moved above a key resistance point of 68.00, and is currently tracking at 71.05.

🟢The next visible ceiling appears to be at the 73.00 mark, and as a result, bulls may begin to secure profits, slowly vacating earlier positions.

🟢Ethereum (ETH) was also back in the green on Tuesday, with prices once again trading above $1,900.

ETH/USD hit a peak of $1,936.73 earlier in today’s session, less than 24 hours after trading at a low of $1,848.16.

🟢As a result of Tuesday’s surge in price, the world’s second largest cryptocurrency neared its highest point since last August.

💲Analysts Weigh In on BRICS Currency as Tool to Face US Dollar-Based Sanctions

Analysts have begun considering using a future BRICS currency to sidestep U.S. sanctions and the dollar’s influence in international markets.

While the rise of the U.S. dollar was significant to spur an era of economic growth after World War II, the so-called weaponization of its ubiquitous use has made some countries consider other options for international trade.

‼️Growing Links Between Middle East, Russia, China Pose Huge Challenge for US, Warns Former Treasury Secretary

Former Treasury Secretary Lawrence Summers has expressed concerns that a rising number of countries, including China, Russia, and the Middle East, are aligning themselves and gaining global influence. “I think [it] is a huge challenge for the United States,” he cautioned.

Former Treasury Secretary Lawrence Summers expressed concern on Bloomberg TV Friday about an increasing number of nations coming together and gaining global influence against the U.S. He made these remarks on the sidelines of the spring meetings of the International Monetary Fund (IMF) and the World Bank in Washington, D.C.

He explained that a growing number of countries are aligning themselves on the opposite side of the U.S., elaborating:

🗣️There’s a growing acceptance of fragmentation, and — maybe even more troubling — I think there’s a growing sense that ours may not be the best fragment to be associated with.

🐸New ‘Pepe the Frog’ Crypto Token Becomes Sixth Largest Meme Coin by Market Cap

🟠A new token named after Pepe the Frog, the infamous meme, and cartoon character created by Matt Furie, has entered the meme coin economy.

⚡️The token is called Pepe (PEPE), and at the time of writing, it has become the sixth-largest meme coin asset in terms of market capitalization, valued at just over $130 million.

However, amidst the fast rise, both the website coinmarketcap and the Web3 security startup Gopluslabs have warned that the contract owner may have the ability to modify the transaction tax and blacklist function.

🇺🇦Ukraine to Adopt Europe’s Crypto Rules, Clarifies Taxation

💫Officials have revealed that Ukraine intends to implement the crypto market rules approved by the European Parliament. While the government is already moving in that direction, the tax service has issued a clarification regarding the taxation of income resulting from cryptocurrency transactions.

A regional leader in crypto adoption, Ukraine now plans to follow in the footsteps of the global leader in crypto regulation, the European Union.

On Thursday, European lawmakers gave their final approval to the Markets in Crypto Assets package.

💁‍♀️“This is a truly historic event, I am sure Ukraine will be one of the first countries to implement this regulation into national legislation,” commented Yuriy Boyko.

🏓ECB’s Panetta Reinforces Digital Euro Focus on Payments

🚛Fabio Panetta, a member of the executive board of the European Central Bank (ECB), announced the digital euro project was entering its final phase. Before the committee on economic and monetary affairs of the European Parliament, Panetta stated that the digital euro, if approved, would be focused on making payments easier for Europeans.

Fabio Panetta, a member of the executive board of the European Central Bank, announced that the digital euro project was reaching its final stages of research, and stated that one of the first goals of the project is to establish it as a universal payment method.

Panetta stated:

🗣️We have been investigating the technical solutions that would enable people to easily make payments in digital euro, anywhere in the euro area.

Furthermore, he declared that the digital euro could be given legal tender status by legislators, making all merchants capable of accepting digital payments obliged to accept it.

Panetta also talked about the ideal requirements that the digital euro should fulfill if launched, stating:

🗣️People should be able to pay and be paid in digital euro anywhere in the euro area, no matter which intermediary they are using to access the digital euro or which country they are in.

🇦🇷Argentina to Settle Chinese Imports in Yuan to Safeguard Dwindling Dollar Reserves

➡️The economy minister of Argentina, Sergio Massa, announced that starting this month, payments for imports coming from China will be settled using the Chinese yuan. The agreement, which will allow the country to safeguard its dwindling dollar reserves, involves the disbursement of more than $1 billion in April.

China is currently Argentina’s international partner, and this move will ostensibly allow the country to lessen the weight of imports on the weakened state of Argentine reserves.

The Chinese concession given to Argentina by Chinese President Xi Jinping allows the central bank to focus its attention on the devaluation and inflation spiral Argentina is currently experiencing by injecting resources to stabilize its fiat exchange rate, which reached record lows last week against the U.S. dollar.

🔽Bitcoin, Ethereum Technical Analysis: BTC Moves Below $28,000 Ahead of FOMC Decision

➡️Bitcoin fell below the $28,000 level on Tuesday, as markets continued to prepare for tomorrow’s Federal Reserve interest rate decision. The Fed is expected to increase rates by 0.25%, despite the U.S. economy slowing down. Ethereum also remained lower, moving close to a breakout below $1,800.

🟢Bitcoin (BTC) dropped below $28,000 on Tuesday, as markets prepared for the upcoming Federal Open Market Committee (FOMC) decision.

🟢BTC/USD slipped to an intraday low of $27,680.79 earlier in today’s session, which came less than 24 hours after trading at a high of $28,626.28.

🟢As a result of this move, bitcoin nearly collided with its recent price floor at $27,600, hitting a six-day low in the process.

🟢Looking at the chart, the latest decline comes as the relative strength index (RSI) moved below a floor of its own at 50.00.

🟢At the time of writing, the index is tracking at 46.17, with the next visible point of support at 43.00.

🟢Bitcoin has since moved back above $28,000, and is currently trading at $28,176.91.

🟢Ethereum (ETH) was also lower in today’s session, with prices also falling to a key level of support.

🟢Following a high of $1,851.19 to start the week, ETH/USD plunged to a bottom at $1,809.19 earlier in the day.

🟢Today’s drop saw the world’s second largest cryptocurrency move below its long-term price floor at $1,830.

🟢ETH has since rebounded from this floor, as sentiment remained relatively stable, despite the earlier decline.

🟢This happened despite the RSI trading under a support point of its own at 45.00, with a current reading of 44.30.

🟢There could be more moves on Wednesday following the Fed decision, with a potential move above $1,900 still on the cards.

🔼Stronghold Digital Partners With Canadian Subsidiary to Boost Bitcoin Mining Capacity by 400 PH/s

➡️Stronghold Digital, a leading Bitcoin mining firm, announced the company has entered into a two-year hosting agreement with Cantaloupe Digital LLC, a subsidiary of the bitcoin application-specific integrated circuit (ASIC) manufacturer, Canaan. Under the new partnership, Stronghold Digital plans to activate 2,000 Avalon A1346 miners and 2,000 A1246 models. This will result in a total hashrate capacity of 400 petahash per second (PH/s) by the end of June.

On May 4, 2023, Stronghold Digital Mining, Inc. (Nasdaq: SDIG) announced a two-year hosting deal with Cantaloupe Digital, a subsidiary of Canaan, the manufacturer of Avalon-made ASICs. Starting May 15, Stronghold Digital will install Avalon A1246 mining rigs, each with 90 terahash per second (TH/s) of hashpower.

According to the announcement, the company plans to install 2,000 Avalon A1346 miners in June. Each A1346 miner is expected to have a hashpower of 110 TH/s. Once all the miners are installed, Stronghold anticipates that its delivered hashrate capacity will increase to 3.6 exahash per second (EH/s) by June. This move puts Stronghold in line with other mining companies that are also expanding their fleets in 2023 with additional ASIC rigs.

♾“While we have emphasized our necessary deleveraging efforts over the last ten months, we think that the most meaningful measure of our work is the capital efficiency of our mining fleet today,” Greg Beard, chairman and chief executive officer of Stronghold.

📌Meanwhile, bitcoin miners have had a more successful year in 2023 compared to 2022. The price of bitcoin (BTC) has been higher this year, and despite five consecutive difficulty increases, miners experienced a 1.45% decrease on Thursday.

🔽Bitcoin, Ethereum Technical Analysis: BTC Extends Declines, as Markets Continue to React to Nonfarm Payrolls

Bitcoin fell below $28,000 to start the week, as markets continued to react to last Friday’s United States nonfarm payrolls (NFP) report. The payrolls report came in at 250,000 versus expectations of 180,000 jobs. Ethereum was also lower, as prices fell back below $1,900.

👍 Bitcoin (BTC) moved lower to start the week, as cryptocurrency markets continued to react to the latest nonfarm payrolls report.

🔼The number of jobs added to the U.S. economy came in higher than expected, in many’s eyes justifying the Federal Reserve’s decision to hike interest rates by 0.25%.

As a result, BTC/USD fell to an intraday low of $27,691.26 earlier in today’s session, following a peak of $29,119.38 the day prior.

Bitcoin chart by TradingView

🟢Overall, BTC has now fallen for a third straight session, with this latest drop sending prices to a one-week low.

🟢One of the catalysts for the decline was a breakout which took place on the relative strength index (RSI), which fell below a floor at 47.00.

🟢At the time of writing, the index is tracking at 44.32, with a floor of 42.00 a potential target for bears.

🟢In addition to BTC, ethereum (ETH) was also in the red on Monday, with prices plunging below $1,900.

Following a high of $1,934.00 on Sunday, ETH/USD dropped by almost $100, hitting a low of $1,839.89 earlier in the day.

🟢Similar to bitcoin, today’s decline saw the world’s second largest cryptocurrency fall for its third consecutive day.

Ethereum chart by TradingView

🟢From the chart, it appears that ethereum bears are now attempting to take the RSI to its own point of support at 45.00.

🟢Currently, the index is at the 47.02 level, having recently moved below a higher support point at 49.00.

🟢Should price strength hit the target of 45.00, there is a possibility that ETH will be trading under $1,800.

🔥Russian Companies ‘Actively’ Using Crypto, Russia to Adopt 4 Relevant Laws, Official Says

🟢Russian lawmakers intend to soon approve four bills designed to regulate various aspects of cryptocurrencies, a high-ranking member of the Russian parliament announced. Meanwhile, Russian companies are already using digital assets in cross-border settlements, the official noted.

🟢The State Duma, the lower house of the Russian parliament, plans to adopt four crypto-related laws during its spring session which ends on July 30, according to Anatoly Aksakov, chairman of the parliamentary Financial Market Committee.

🟢The bills are tailored to regulate cryptocurrency mining, cross-border crypto payments, taxation of digital assets, and liability for their illegal use, the lawmaker detailed, quoted by the Interfax news agency. He emphasized that the draft laws are well thought through.

🟢Aksakov remarked that large Russian companies are already actively using cryptocurrency in foreign trade settlements, but they want to see legislation outlining the legal framework for such transactions. Speaking at the St. Petersburg International Legal Forum, he stated:

🟢Now we have come to the point where four bills are in the stage of practical adoption … It is quite possible that we will adopt all the laws in the spring session.

🟢Anatoly Aksakov also said that the authorities want to take into account the opinions of market participants regarding tax rules. “Most likely, the norms applicable to DFAs will be taken into account as much as possible here, since this is a similar instrument,” he elaborated.

🟢The law “On Digital Financial Assets” (DFAs), which went into force in January 2021, covers only some crypto-related activities, in particular those that involve digital assets with an issuing entity, like tokenized traditional assets or utility tokens, for example.

🔼Tencent Q1 2023 Earnings Statement Rides High on Increased Payment Volumes, Ad Sales, Gaming

Chinese tech giant Tencent saw its Q1 2023 revenue jump 11% YoY to $21.4 billion amid relaxed industrial regulations.

Tencent Holdings posted its Q1 2023 results, reflecting the company’s fastest jump in quarterly revenue in over a year.

📌For Q1 2023, Tencent posted an 11% year-over-year revenue jump to 150 billion Chinese yuan ($21.4 billion) compared to analysts’ expectations of 146.09 billion yuan. The Shenzhen-based tech and entertainment conglomerate attributed the income increase to a boost in payment volumes, ad sales, and gaming.

Tencent’s Q1 tech success is a far cry from late 2020 when the Chinese government imposed stricter regulations on the tech industry.

🟢In 2021, Chinese regulators suspended new video game releases and imposed strict measures on usage among young children. However, in the last few months, Beijing has softened its stance on the industry and approved more titles for release.

Many expect artificial intelligence to command a decent amount of attention at Tencent’s upcoming earnings call.

In its earnings statement, Tencent explained it was investing in artificial intelligence capabilities and cloud infrastructure to meet posed opportunities. The company added that AI “[could] be a growth multiplier that enables us to better serve our users, customers, and society at large”.

🔥DeeLance - A Blockchain Ecosystem Where the World Works Together Smartly 🔥

Web3-based DeeLance is redefining how freelancers connect with potential employers and buyers of their work.

👑It intends to build a new freelance economy that removes intermediaries, gives freelancers full ownership of their work, and ensures the ownership of purchased digital work for buyers

DeeLance’s decentralized platform entails micro-communities in a metaverse where buyers and sellers of creative works can meet, discuss ideas, network, and form bonds, and an NFT marketplace, where they can transact.

🔥Biggest Movers: XRP Bulls Take Profits Following 6-Day Winning Streak

XRP was marginally lower on Saturday, as bulls seemingly secured gains, following a recent six-day winning streak. The token, which has risen by nearly 10% in the past week, remains close to a three-week high. Polkadot remained in the green to start the weekend.

➖XRP, formerly ripple, remained close to a multi-week high to start the weekend, despite bulls moving to secure recent gains.

➖Following a peak at $0.4738 on Friday, XRP/USD declined to a bottom at $0.4627 earlier in the day.

➖Despite the decline, XRP remained close to its strongest point since April 30, when the price reached a top of $0.4818.

➖Looking at the chart, one of the catalysts of the move appeared to be a breakout on the relative strength index (RSI).

➖The index moved beyond the ceiling of 54.00, and as of writing, is now tracking at 56.09.

➖Bulls are likely targeting the $0.4800 mark, and could reach it this weekend, should the RSI move towards its next point of resistance at 59.00.

➖In addition to XRP, Polkadot (DOT) extended its own gains on Saturday, as the token rose for a second straight session.

➖DOT/USD climbed to a high of $5.41 to start the weekend, following a low at $5.33 the day prior.

➖Saturday’s move comes as polkadot continued to move away from a recent support point at $5.30.

➖The slight increase in price has also led to the RSI moving towards resistance at 42.00, which is acting as an obstacle to further bullish pressure.

➖There is a good chance that DOT could make a run towards $6.00, should this current ceiling give way.