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๐Ÿ—ž Daily Crypto News, March, 12th ๐Ÿ’ฐ

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Mr. Crypto Lemon ๐Ÿ‹
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  • Bitcoin Tackles $6K After 20% Crash as Stocks Rival 1987 Apocalypse ;
  • Chase Bank Settles on Credit Card Crypto Transactions Class Suit ;
  • Bitcoinโ€™s Crash Triggers Over $700M in Liquidations on BitMEX;
  • Crypto Exchange Kraken Launches Forex Trading for Nine Currency Pairs ;
  • Pre-crash Data: Number of Addresses with 1 Bitcoin Hit All-Time High ;
  • ๐Ÿ—ž Daily Crypto Calendar, March, 12th ๐Ÿ’ฐ
  • STEEM Trading Update

Welcome to the Daily Crypto News: A complete Press Review, Coin Calendar and Trading Analysis. Enjoy!

๐Ÿ—ž Bitcoin Tackles $6K After 20% Crash as Stocks Rival 1987 Apocalypse

Bitcoin (BTC) struggled to turn $6,000 into support during trading on March 12 as the second โ€œBlack Mondayโ€ event in the same week pushed stocks to perilous lows.

BTC bounces off $5,700 floor

Data from Coin360 and Cointelegraph Markets showed BTC/USD trying and failing to recapture $6,000 after shedding 20% in a single hour.

As Cointelegraph reported, Donald Trumpโ€™s travel ban set the scene for a coronavirus panic attack on Bitcoin markets, with the cryptocurrency crashing to 10-month lows of $5,720.

๐Ÿ—ž Chase Bank Settles on Credit Card Crypto Transactions Class Suit

US-based Chase Bank has settled an agreement with a class of customers who claim the bank billed their credit card cryptocurrency transactions by classifying them as expensive cash advances without prior warning.

Chaseโ€™s customers Brady Tucker, Ryan Hilton, and Stanton Smith accused the bank of breaching the cardholder agreements with them and other customers by changing the way it billed purchases of cryptocurrency without notice. In January 2018, the bank allegedly decided to change the way it classified such transactions and started to treat them as cash advances which are subject to additional fees and interest. Shortly after, Chase moved to block such transactions altogether.

A joint letter filed by counsel for Chase on March 10 indicates the parties expect to present Judge Katherine Failla of the US District Court for the Southern District of New York with a finalized settlement agreement along with related preliminary approval papers within a period of 60 to 75 days, reports Law360.

๐Ÿ—ž Bitcoinโ€™s Crash Triggers Over $700M in Liquidations on BitMEX

Bitcoinโ€™s (BTC) flash crash on Thursday triggered the most long-short liquidations on crypto derivatives exchange BitMEX in 16 months.

The top cryptocurrency by market capitalization fell from $7,200 to a 10-month low of $5,678 in just 15 minutes at around 10:45 UTC, catching most traders off guard and forcing liquidations worth $702 million on BitMEX. Thatโ€™s the highest amount since Nov. 14, 2018, according to crypto derivatives research firm Skew.

https://static.coindesk.com/wp-content/uploads/2020/03/BitMEX-BTCUSD-liquidations-775x433.png?format=webp

The price drop triggered $698 million worth of sell liquidations and $4 million worth of buy liquidations.

The Seychelles-based exchange had registered total liquidations of $750.8 million on Nov. 14, 2019, when bitcoinโ€™s price dropped sharply from $6,000 to levels below $5,000.

๐Ÿ—ž Crypto Exchange Kraken Launches Forex Trading for Nine Currency Pairs

United States-based cryptocurrency exchange Kraken is embracing traditional forex trading, going live with nine new fiat currency pairs as of today, March 12.

From 14.30 UTC, users worldwide โ€” notably excluding United States residents โ€” will be able to use the Kraken platform to directly trade between euros, U.S. dollars, Canadian dollars, Japanese yen, pound sterling and Swiss francs.

The exact FX pairs are as follows: EUR/CAD, USD/CAD, USD/JPY, EUR/CHF, USD/CHF, EUR/USD, EUR/GBP, EUR/JPY, GBP/USD.

๐Ÿ—ž Pre-crash Data: Number of Addresses with 1 Bitcoin Hit All-Time High

The number of investors holding 1 Bitcoin (BTC) or more, known as wholecoiners, seems to be on the rise recently. Though we can't be sure how many investors in total that is, crypto market researcher Glassnode has announced yesterday that the number of addresses holding at least one whole BTC has reached another all-time high: 795,630. This is 330 addresses more than two days ago when the previous all-time high of 795,300 addresses has been recorded.

It's also important to note that all the information here has been recorded prior to the market crash today.

The rise in the number of these addresses in the past ten years of the coin's existence is evident, and with just a couple of noticeable large jumps in an otherwise gradual upwards trajectory:

  • January 26, 2016: 526,128 addresses (the price of bitcoin was just USD 393)
  • December 27, 2017: 717,159 addresses (BTC price: USD 15,621).

๐Ÿ—ž Daily Crypto News, March, 12th๐Ÿ’ฐ

  • Cardano (ADA)

"Check out the latest from Charles Hoskinson's Brief Cardano Update & IOHK 5-Year Anniversary- 11/3/2020"

  • Horizen (ZEN)

Team updates at 4:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA.

  • Chainlink (LINK)

"Tune in March 12th @ 9am EST for a livestream chat w/ @EdFelten of @OffchainLabs & @EidJohann for Chainlink."

  • Global Currency Reserve (GCR)

GCR token swap on Cryptrox exchange from Feb 11th, 9 AM (GMT) to Mar 12th, 5 PM (GMT).

  • Tokoin (TOKO)

"Crypto VIP Signalโ„ข will host AMA with @TokoinGlobal on 12th Mar."

  • Aeternity (AE)

AE aembassador presents AE at meetup in Lyon, France.

STEEM Trading Update by my friend @cryptopassion

Here is the chart of my last analysis :

Here is the current chart :

The STEEM is currently moving inside the range created between the support at 0.21$ and the resistance line at 0.23$.

We won't have any real news till the market will break one of these lines. The more we will stay inside that range, the more powerfull will be the move when we will go outside. the only problem in this kind of move is that we never know the direction that it will take.

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