Binance Within 24 hours after the CFTC lawsuit, the amount of bitcoin dropped by 3,4000 BTC

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We have brought together the past week’s most exciting events in this Good Crypto digest. If you want to get these updates as soon as we post them, follow us on Twitter or Telegram.

Quick weekly news

Circle makes a USDC announcement for Cosmos over the Noble network

According to a blog post by the Noble development team, USD Coin will soon be available on the Cosmos ecosystem via the Noble network. Circle shared the post on Twitter, but neither Circle nor Noble gave a specific launch date, stating readers should “stay tuned.”

Cosmos Inter-Blockchain Communication Protocol-connected network introducing the fiat-backed stablecoin will solve many of the challenges Cosmos users face when bridging assets from one network to another, as explained by the Noble team. In addition, this integration should bring in hundreds of millions of dollars in liquidity to Cosmos over the coming months.

As the official Cosmos website explains, the interconnected web of blockchain networks in Cosmos is connected through the Inter-Blockchain Communication Protocol (IBC), allowing assets to move between networks within the overall Cosmos ecosystem.

MetaMask cautions users about false rumors about an airdrop on March 31

MetaMask warned its users about fake news surrounding a supposed airdrop, which has been circulating on social media.

In a tweet on March 28, MetaMask addressed the rumours of a MetaMask snapshot or airdrop on March 31, stating that the rumours are “false” and “dangerous“. Cointelegraph has identified several Twitter accounts falsely claiming to be related to MetaMask or a MetaMask token airdrop.

Although the crypto wallet provider has denied any imminent airdrop, some community members are still hoping for one in the future. At present, it is unclear whether MetaMask has plans for a future airdrop.

Binance Within 24 hours after the CFTC lawsuit, the amount of bitcoin dropped by 3,4000 BTC

Following the CFTC’s regulatory violations lawsuit against Binance and its CEO Changpeng “CZ” Zhao, investors withdrew Bitcoin from Binance.

In response, CZ rejected allegations of market manipulation and stated, “Binance.com does not trade for profit or ‘manipulate’ the market under any circumstances.” However, recent events involving other crypto entrepreneurs have led to investor unease.

As a result, investors have been moving assets away from Binance to reduce the impact of a potential shutdown. Binance’s Bitcoin balance has decreased by over 3,900 BTC in the past week, with 3,400 BTC pulled out in the last 24 hours alone. 

Meanwhile, competing exchanges like Coinbase, Bitfinex, and Gemini have seen an increase in BTC reserves during the same 24-hour timeframe. It is important to note that major exchanges have witnessed a decline in Bitcoin balances since March 20, with nearly 27,000 BTC leaving their platforms over the last seven days.

First Citizens purchases Silicon Valley Bank; branches will open on Monday

According to a statement from the Federal Deposit and Insurance Corporation, North Carolina-based First Citizens Bank will acquire all deposits and loans of Silicon Valley Bank.

The purchase and assumption agreement will open 17 former Silicon Valley Bank branches as First Citizens Bank and Trust Company on Monday, March 27. Depositors of Silicon Valley Bank will automatically become depositors of First Citizens Bank.

The FDIC stated, “Today’s transaction included purchasing about $72 billion of Silicon Valley Bridge Bank, National Association’s assets at a discount of $16.5 billion”. Meanwhile, approximately $90 billion in securities and other assets will remain in the receivership for disposition by the FDIC.

First Citizens was reported by Bloomberg to have been planning an SVB bid as early as March 18. Three days later, it reportedly submitted a bid for all of SVB. Valley National Bancorp is also understood to have submitted a bid for the collapsed bank.

How to Interpret Awesome Oscillator?

The difference between the two Simple Moving Averages is typically shown on a histogram with a colored bar, separated by a Zero Line, depending on the trading platform used.

With standard settings, increasing bars are colored green, and decreasing bars are red, but you can customize the colors in the AO settings.

The histogram bars can be above or below the zero value based on the relative position of the fast SMA (5 bars) and slow SMA (34 bars). In the first case, the AO will be positive since its bars are above the 0 level, whereas in the second case, the AO indicator will be negative because the bars are below the 0 level. As the trend strengthens, the moving averages diverge more, causing the histogram bars to extend further up or down (signaling bullish or bearish trends, respectively).

Unlike the Stochastic Oscillator, which fluctuates between 0 and 100, the Awesome Oscillator is limitless. So don’t hesitate and dive into our article to find out all benefits and usage hacks of AO.

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