Has PayPal Paused Crypto Project? Crypto Daily TV 14/2/2023

In Todays Headline TV CryptoDaily News:

Binance USD’s $16B Market cap up for grabs.

The decision by stablecoin issuer Paxos to stop issuing Binance USD at the direction of the New York Department of Financial Services will shake up the $136 billion stablecoin market – with industry leaders Tether’s USDT and Circle’s USDC likely to gain share.

PayPal reportedly pauses crypto project.

PayPal has reportedly paused its stablecoin project after financial regulators tightened scrutiny on cryptocurrencies and the New York State Department of Financial Services started investigating the company’s key project partner.

Brazil’s largest public bank enables tax payments to be made with crypto.

Banco do Brasil, Brazil’s largest public bank, has enabled the payment of taxes with cryptocurrencies, the bank said in a statement. The service is only available to customers with cryptocurrencies deposited with Bitfy, a startup specializing in blockchain solutions in which BB’s corporate venture capital arm has invested.

BTC/USD fell 0.8% in the last session.

The Bitcoin-Dollar pair dropped 0.8% in the last session. According to the Stochastic indicator, we are in an oversold market. Support is at 21424.6667 and resistance at 22280.6667.

The Stochastic indicator is signalling an oversold market.

ETH/USD dove 1.9% in the last session.

The Ethereum-Dollar pair dove 1.9% in the last session. The Stochastic-RSI indicates an oversold market. Support is at 1467.0333 and resistance at 1571.4933.

The Stochastic-RSI is signalling an oversold market.

XRP/USD dove 1.0% in the last session.

The Ripple-Dollar pair plummeted 1.0% in the last session. The ROC is giving a positive signal, going against our overall technical analysis. Support is at 0.3644 and resistance at 0.39.

The ROC is currently in the positive zone.

LTC/USD dove 3.3% in the last session.

The Litecoin-Dollar pair dropped 3.3% in the last session after rising as much as 2.6% during the session. The ROC is giving a positive signal. Support is at 89.291 and resistance at 96.171.

The ROC is currently in positive territory.

UK ILO Unemployment Rate

The ILO Unemployment Rate is the number of unemployed workers divided by the total civilian labor force. The UK’s ILO Unemployment Rate will be released at 07:00 GMT, the US Consumer Price Index Core at 13:30 GMT, Finland’s Gross Domestic Product at 06:00 GMT.

US Consumer Price Index Core

The Core Consumer Price Index (CPI) measures the changes in the prices of goods and services, excluding food and energy.

FI Gross Domestic Product

The Gross Domestic Product is a measure of the total value of all goods and services produced by a country. The GDP is considered as a broad measure of economic activity and health.

US Consumer Price Index

The Consumer Price Index is a measure of price movements made by comparing the retail prices of a representative shopping basket of goods and services.  The US Consumer Price Index will be released at 13:30 GMT, Japan’s Industrial Production at 04:30 GMT, the Eurozone’s EcoFin Meeting at 07:00 GMT.

JP Industrial Production

Industry is a basic category of business activity. Changes in the volume of the physical output of the nation’s factories, mines and utilities are measured by the index of the industrial production.

EMU EcoFin Meeting

The Economic and Financial Affairs Council, the main decision-making body of the Council of the European Union, is composed by the Finance Ministers of the 27 European Union member states. 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.