CRYPTO NEWS: Latest BITCOIN News, ETHEREUM News, LITECOIN News, RIPPLE News

CRYPTO NEWS: Latest BITCOIN News, ETHEREUM News, LITECOIN News, RIPPLE News
From Holding Bitcoins, Why BTC Could Rise Above $ 50k
Bitcoin price rose above $ 48,000 but did not reach around $ 50,000 against the US dollar.

After trying to overcome the $ 50,000 resistance, bitcoin began a downward correction. BTC fell below the support levels of $ 49,500 and $ 49,000.
The price even traded below the 23.6% Fibonacci retracement level of the upward movement from the swing low of $ 43,000 to the high of $ 50,190. It even fell below the $ 48,000 support level. However, the bulls managed to defend the $ 47,000 support zone.

Ethereum lacks momentum above $ 1,550, why drop is likely to be capped
Ethereum struggled to break through the $ 1,600 resistance and corrected lower against the US dollar.

There was a break below the $ 1550 and $ 1525 support levels. The price even traded below the 23.6% Fibonacci retracement level of the upward movement from the swing low of $ 1296 to the swing high of $ 1,596. Finally, there was a jump below the $ 1,500 level and the 100-hour simple moving average.

Binance Announces Investment in Crypto Hedge Fund Multicoin Capital
Crypto exchange giant Binance announced an investment in Multicoin Capital on March 2.

Multicoin is a hedge fund investing in crypto startups. Through the deal, Binance became a hedge fund partner.
“This is the first investment of this kind that we have made. As a result, we will continue to work closely with Multicoin Capital to explore new blockchain opportunities, including market development and expansion, ”Binance said in a blog post.

Class action filed against MoneyGram for allegedly misleading investors with XRP
MoneyGram is currently facing a class action lawsuit for allegedly defrauding investors with XRP.

On behalf of investors who bought MoneyGram securities in 2019, Rosen law firm has filed a class action lawsuit against the money transfer company. The law firm claims that any investors who bought MoneyGram shares between June 17, 2019 and February 22 of this year are eligible for compensation, as MoneyGram is partnering with Ripple, the fintech firm behind the XRP creation, which is currently being sued. a court case.

Ethereum will be available on Amazon-managed blockchain
Amazon Web Services announced that Ethereum is now available on its Amazon-operated blockchain service.

A blog post from Amazon stated, "With this launch, AWS customers can easily provision Ethereum nodes in minutes and connect to the public Ethereum mainnet and testnets such as Rinkeby and Ropsten."

Grayscale adds 174k LTC to its Litecoin Trust
New York-based cryptocurrency asset managers Grayscale have bought over 174,000 Litecoin in the last month.

To date, the Grayscale Litecoin Trust owns $ 244.5 million in assets. This makes it the third largest grayscale trust after Bitcoin Trust with $ 31.2 billion AUM and Ethereum Trust with $ 4.7 billion AUM.
Investors trade these stocks on OTCQX, an OTC market that operates under Alternative Reporting Standards. This means that they are not required to register with the SEC.

Ethereum's top 10 whale addresses contain a total of 16.86 million ETH.
Broadcast sentiment remains optimistic

Since Ethereum hit a new milestone of over $ 2,000 on February 20, the second largest cryptocurrency by market cap has been experiencing a price correction.

Crypto Tax Startup TaxBit Raises $ 100 Million in Round Supported by PayPal, Bill Ackman and More
Utah-based startup TaxBit, a cryptocurrency tax and accounting startup, raised over $ 100 million in a Series A round.

First reported by Forbes, the round was led by investment firms Paradigm and Tiger Global, in which PayPal Ventures, Coinbase Ventures and Winklevoss Capital participated. The startup offers cryptocurrency taxation software for users, exchanges and cryptocurrency providers.

China's Inner Mongolia To Stop Bitcoin Mining Due To Energy Efficiency Issues
China's major bitcoin mining hub, Inner Mongolia, will shut down its extensive cryptocurrency mining operations by April this year.

According to a CNBC report on the matter, Inner Mongolia's efforts to halt new cryptocurrency mining projects and shut down existing ones are aimed at reducing energy-consuming operations.
Cryptocurrency mining activities in Inner Mongolia raised serious concerns in Beijing, as the region geographically located in North China did not meet government energy efficiency ratings. While the decision of Inner Mongolia to stop mining is purely regional, it largely coincides with the central government's drive to become more environmentally friendly.