29TH MARCH LATEST CRYPTO NEWS DIGITAL MAGAZINE

Bitcoin’s strong rally in the past two days has erased the losses for 2022. This has pushed the Crypto Fear and Greed Index into the “greed” territory. Interestingly, just a week back, the index was languishing in the “fear” zone. This shows how a few bullish days could change the investor sentiment quickly. On-chain analytics firm IntoTheBlock recently tweeted that “the balance held by hodlers - addresses holding >1year, is currently at ath (all-time high). Hodlers increased their positions by 17% since late November.

These addresses remained unfazed and accumulated throughout Q1 of 2022.” Along with increased institutional interest, the purchase by the Luna Foundation may also have boosted sentiment. Do Kwon, the co-founder and chief executive officer of the firm behind the Terra blockchain, said to Bloomberg that it had purchased more than $1 billion in Bitcoin, with the latest purchase of about $135 million done on Monday

We said in our previous analysis that $45,855 may act as resistance but if bulls push the price above it, the rally could reach the 200-day simple moving average (SMA) and that is how it happened.

The long wick on March 28 candlestick shows that bears are attempting to stall the rally at the 200-day SMA. If the price turns down from this level but does not drop below $45,855, it will suggest that the previous resistance has turned into support. This increases the possibility of a break above the 200-day SMA.

If that happens, the BTC/USD pair could start its rally to $52,000 where the bears may again mount a strong defence. If the price turns down from the 200-day SMA and plummets below $45,855, it will suggest that the short-term traders who may have purchased at lower levels are closing their positions.

That could open the doors for a possible drop to $42,500. If that happens, the pair may remain rangebound between the moving averages for a few days

Lastly please check out the advancement’s happening in the cryptocurrency world.

Enjoy the issue!


Speed is the essence of the crypto and NFT space. Developments within the space are taking place at breakneck speed. Considering the very nature of the digital world, some of the developments are quite expected. There is a huge amount of venture capital money that is pouring into this sector, with new funds being launched every few days. This is fueling certain astoundingly fast developments in the fledgling space. One such development is consolidation, where relatively big players acquire smaller players with great future potential, thereby strengthening their share and grip in the market. Such developments are usually seen in more mature industries and spaces but that trend has already caught the NFT space, even when the space itself is still evolving. Yuga Labs, creators of some of the most popular NFT collections, has acquired the intellectual property of two NFT collections from Larva Labs. Read on to find more.

Newly launched fintech firm, 3QualiTy, provides a bridge between cryptocurrencies and charitable giving. While on a mission to offer relief to numerous communities in need, the company is also creating a platform where donors who give access multiple streams of revenue. 

With a #Give2Earn mission, 3QualiTy , a New York-based company founded in January 2022, exists “to help those who really need help no matter the person’s color, class or belief system without bias by securing the interface between charity and decentralized ledger technology.

XmetaFans has adopted virtual reality technology to establish an enthusiastic content streaming platform for its users in the entertainment industry in a decentralised finance ecosystem.

XmetaFans is a Binance Smart Chain based platform, committed to creating a secure and alternative income source for the online entertainment industry by monetising content and live performances in Full HD, 3D, 4K and VR formats in its ecosystem. The platform will provide a safe community for its users, including content creators, by providing a DeFi network. Thus, eliminating third parties and keeping the users anonymous.

A high-ranking Russian official says that the nation is considering accepting Bitcoin (BTC) as payment for its fuel exports. According to a new report by the BBC, Zavalny, who is the Chairman of Russia’s Energy Committee, says that nations that are considered “friendly” toward Russia can pay for oil and gas using their own currencies

T he Bank of England has decided to collaborate with MIT regarding the development of a CBDC. The Bank of England is the latest bank that has expressed interest in exploring the scope of a CBDC. This latest partnership is with MIT’s Media Lab’s Digital Currency Initiative, through which BoE seeks to inspect and understand potential challenges, risks, and opportunities associated with developing a central bank digital currency. It would be a Twelve-month long research project as mentioned by the BoE.

T he Indian government has revealed that 11 cryptocurrency exchanges have been under investigation by the country’s tax authority. About 95.86 crore rupees ($12.6 million) have been recovered from them. 11 Crypto Exchanges Investigated for Tax Evasion The Indian government answered some questions regarding the taxation of cryptocurrency exchanges Monday in Lok Sabha, the lower house of parliament.