Jump into our Issue 3 – 2023 Crypto Live Casino News for insights on Bitcoin, Bitcoin Cash, Litecoin, TRON, Ripple & Ethereum & iGaming news. (Image from Maxim Hopman at unsplash.com)
We’re back with the latest iGaming cryptocurrency report of the year. In our Issue 3 – 2023 Crypto Live Casino News update, we will dive into how the latest cryptos used for online gambling have performed in the markets.
What has Happened in Time for this Issue 3 – 2023 Crypto Live Casino News Update?
The latest news coming out of the crypto industry since the last report is Bitcoin has crossed the $30k USD mark but has pulled back to just above $27k USD. The cause of the recent decline of BTC and the other main coins is Coinbase, the largest US-based cryptocurrency exchange, which will probably face legal action from the SEC.
Thus, the ensuing battle should lead to clarification of federal securities laws on how they are applied to cryptocurrencies. In the meantime, Coinbase has secured an offshore license in Bermuda, which set out a comprehensive legal framework back in 2018. The move will enable Coinbase to expand international transactions.
The Canadian Securities Administrators have initiated a 30-day registration period for unregistered crypto trading platforms. Many companies have opted to leave, but Binance and Coinbase will pursue registrations. The move by regulators and proposed rules will make it harder for hedge funds and private equity firms to hold cryptocurrency on crypto platforms. The registrations are meant to make trading platforms more transparent regarding insolvency, hacking and fraud risks.
This report takes a look at Bitcoin, Bitcoin Cash, Litecoin, TRON, Ripple and Ethereum to see where they may be headed in the coming days/weeks.
Track Through Previous Reports: In each issue, we will place a link to the previous issue. That way, you can go back through each to see how the cryptocurrencies have performed throughout 2023 to date. Why not start by checking out Our Issue 2 Crypto News?
Crypto Price Watch
(Issue 3 – 2023 Crypto Live Casino News)
This week, we will dive into how Bitcoin (BTC), Bitcoin (BCH), Litecoin (LTC), TRON (TRX), Ripple (XRP), and Ethereum (ETH) have performed and how they might perform in the coming weeks
- Bitcoin (BTC) – Following its failure to maintain its position in the $30k USD range, Bitcoin faced intense selling pressure in the last 7 days. The cryptocurrency is experiencing bearish movements by “whale” transfers, which have fueled selling pressure across the market, although this trend has tapered off in the last few days. Investors are anticipating strong demand if the coin can achieve the $28,250 USD target. On the other hand, if the selling pressure continues. a support level of $22,900 may be in the near future. At the time of writing, BTC was trading at $29, 044 USD.
- Bitcoin Cash (BCH) – BCH is still a promising payment technology and has reduced transaction fees and transaction times, making this an attractive option for businesses and merchants. In the DeFi arena, BCH is still king, but there are many new platforms in the wings, waiting to dethrone the industry leader. One of these competitors is BCH Bull, which expands the scope of trading to smart contracts (up to 90-days and 2 to 3x bigger contracts). BCH is trading down in the last few days and is currently trading a $117.94 USD.
- Litecoin (LTC) – Litecoin crossed the $100 USD territory briefly on April 19th before the resistance’s sell-off knocked back the price by 10%. There was strong resistance at $100 USD after a market correction, but investors are bullish on this stock and buy orders currently outpace the sell orders by over 100,000 coins. This dichotomy between buyers and sellers indicates investors are willing to pay a premium price for the altcoin, which could trigger an upward surge in price. Some are predicting a price above $110 USD if the bullish response continues. LTC is currently trading at $88.71 USD with support at $86 USD.
- TRON (TRX) – While TRON has a stellar start to the year, up 20% since January, has levelled out from April 1st and is trading at $0.066, with no substantial moves either way. It was expected that the launch of Stake 2.0 would increase the total value locked, but the coin has moved laterally. TRX enthusiasts believe that the AI hype and the launch of the TRON DAO fund ($100m USD) to fund AI projects will increase the fortunes of TRX in the coming months.
- Ripple (XRP) – As the crypto world continues to anticipate the outcome of the ongoing legal battle with the SEC, XRP has suffered another setback as a precedent in a previous case may hurt their “fair notice” motion. The Ripple legal team believes that this motion is an insurance policy, but their core strategy will be the “Howey test.” The test consists of 4 factors that need to be satisfied to deem an investment contract a security. If any of the 4 factors cannot be met, then the asset is not a security. XRP has risen 39% since the beginning of the year and is currently trading at $0.46 USD.
- Ethereum (ETH) – Ethereum took a big hit on April 18th like the majority of the crypto industry and has continued to drop at least until the last 24 hours. It had dropped close to 10% since then but has now rallied up to $1,900.04 USD today, up 1.78% ($33.32). We will have to see if this is just a small rally, If not, the next support level is $1,839 USD and could see the coin drop even further in the coming days. The Shanghai upgrade on April 12th allowed institutional staked investors to unlock around $35 billion, which has caused a significant sell-off.
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Disclaimer: For professional crypto investment advice and real time values, please visit a professional site that covers this topic such as Binance or Crypto.com.
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