Dive into Issue 2 – 2023 Crypto Live Casino News for insights on Bitcoin, Bitcoin Cash, Litecoin, TRON, Ripple & Ethereum & iGaming news. (Photo by Arvi Pandey on Pixabay)
Welcome to the second Livecasinocentral cryptocurrency report of 2023.
‘Issue 2 – 2023 Crypto Live Casino News’ covers the main cryptos used in online gambling. And while some of you may be wondering when FTN hits our news reports, we still don’t have any online casinos using the digital asset as of yet.
As soon as FTN gets going, we’ll definitely be adding it to this report.
What’s in Store in this Issue 2 – 2023 Crypto Live Casino News?
Since the last report, the global markets have really taken a hit due to the collapse of the Silicon Valley Bank (SVB) and because of crypto’s close relationship to the equity markets and the corresponding indices, crypto has followed suit. A majority of the coins have bounced back since March 9th, Bitcoin being the star with a 36% recovery!!!
Other coins/projects with ties to SVB have not been so lucky and took precautions to protect their platforms by freezing USDC to USD conversions but face significant challenges going forward. SVB had a large number of crypto startups and venture capital companies on their books and this has adversely affected the stablecoin market. The collapse of this bank has exposed the vulnerability in the crypto industry and the corresponding fluctuation in value. Regulators have quickly stepped in to stabilize the fallout and seem to have the situation under control in this ever-evolving industry.
Watch this space: Our Issue 1 – 2023 Crypto Live Casino News is here for those of you that want to take a look at January’s prices and compare them to this report.
Crypto Price Watch
(Issue 2 – 2023 Crypto Live Casino News)
This week the report will look at Bitcoin, BitCash, Litecoin, TRON, Ripple and Ethereum and look at their movements and where the experts think they are headed.
- Bitcoin (BTC) – The U.S. Federal Reserve will release a statement on the next interest rate decision on March 22nd and BTC has flattened out the last few days in anticipation of the Fed’s announcement. Investors have lost faith in the banking system and see BTC as a haven as Bitcoin is portable. Also, the lack of access to gold has driven investors to seek other safe and potentially profitable tools. Bitcoin has rallied in the last 10 days and reached a 9-month high above $28,000 USD. BTC is currently trading at $27,737 USD, as investors await the Fed’s decision.
- BitCash (BCH) – BitCash is one of the most volatile cryptos on the market and is susceptible to wide price swings. BCH has jumped 15% since the SVB collapse, but not quite the recovery that BTC has experienced. The crypto instrument opened up today but finished in the red, down 2.75% at $127.11 USD.
- Litecoin (LTC) – Litecoin is similar to BTC but hasn’t experienced the success of BTC, even though it is one of the most popular coins. It is currently in the doldrums but hasn’t come off as much as its peers. LTC opened up today and is currently trading at $80.57 USD. LTC recently announced its “halving event” which happens every 4 years. The event will happen in August and the process reduces the rewards paid to miners by 50%. This effectively makes LTC more valuable as it creates scarcity of the coins and reduces the inflationary rate of the token. Analysts believe that as the event gets closer, investors will see the price rise. We will watch this coin closely as the event approaches.
- TRON (TRX) – TRON has experienced a nice rebound from 10 days ago and is up 15%. The fact that TRX has the most daily users may account for this rise in price. The daily active users (DAUs) among the blockchain networks, TRX ranked number one with 1.6 million users, BNB in second with 1.2 DAUs and BTC in third place with 700K DAUs. The focus of TRX is stablecoins and the Total Value Locked (TVL) was $200m in January and was $5.3bn today… a very impressive feat. The coin opened up today and is currently trading at $0.066 USD.
- Ripple (XRP) – Bullish investors are confident that XRP will get a positive ruling against the SEC in the coming weeks. In the last month, 50 ‘whale’ investors have invested between $10m to $100m USD, signaling a large price movement. The price of XRP would rise sharply in the event of a favorable decision, and the entire cryptocurrency market would gain as well. XRP did test the $0.40 USD resistance today and if it breaks out, the next resistance level is $0.42 USD. The cryptocurrency is currently trading at $0.39 USD.
- Ethereum (ETH) – Bullish market analysts are predicting a breakout on ETH in the coming days. Of course, this run will depend on the Fed’s announcement on March 22nd. The stock is currently trading at $1,774.96 USD, but pushed through the resistance of $1,800 USD on March 19th but could not sustain this level. Bullish traders state that the next resistance level is $1,850 USD and if it breaks through the next stop is $2,000 USD. Alternatively, bear traders believe that ETH has had its run based on RSI and other indicators and that the momentum will decline and a price reversal is inevitable. Some are saying a 10% drop is coming and the price level will be $1,677 USD… the next few days should be very interesting.
If you would like to play cryptocurrency live casino games, check out our secure live online casino sites lists here.
Disclaimer: For crypto investments and advice, the best place to look is specialist cryptocurrency websites and YouTube traders. We are not a crypto trading advice expert, and as such, any information in this report should not be used to trade.
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