Crypto Daily News from ZBG Exchange

1. Market Wrap: Bitcoin Choppy Around $56K, Early Pullback Appears Cooling

Bitcoin on Monday suffered its biggest single-day price decline in more than two weeks, after the fizzing of a retail trader-driven rally over the weekend.

Bitcoin’s 24-hour range: $54,790.33-$60,695.91

BTC trades between its 10-hour and 50-hour averages on the hourly chart, a sideways signal for market technicians.

Bitcoin on Monday suffered its biggest single-day price decline in more than two weeks, after the fizzing of a retail trader-driven rally over the weekend that analysts said was notable for its lack of participation by institutional investors.

At press time, bitcoin’s price was changing hands around $56,671.15 after it tumbled to $54,790.33 during Asian trading hours earlier Monday, down 11% from Saturday’s record high at $61,556.59.

2. ConsenSys Confidential: Ethereum Builder Is Back in Growth Mode, Document Reveals

ConsenSys staffers waiting for equity payouts may soon be in luck, according to an internal document revealing the company’s recent good fortune.

With last year’s restructuring of ConsenSys into two separate entities now done, the part of the business that’s been awaiting inclusion in an equity program — ConsenSys Mesh — is now going to be onboarded.

“Now that we have streamlined and restructured the management and operations at Mesh and done an extensive review of our strategy for Mesh equity, we are currently employed with external lawyers and accountants to operationalize the Mesh equity plan as soon as possible,” states the confidential ConsenSys document, dated March 8, 2021.

3. Bitcoin 1Q Retail Flow Exceeding Institutional Investment: JPMorgan Strategist

The decline in institutional investment may be one reason behind bitcoin’s failure to hold above $60,000.

The decline in institutional investment may be one reason behind bitcoin’s failure to hold above $60,000, as CoinDesk has reported. However, all eyes are on a pickup in retail investment, especially given a new round of U.S. stimulus checks going out in recent days.

Retail investors have purchased over 187,000 bitcoins so far this quarter, compared to roughly 172,684 by institutional investors, according to JPMorgan estimates.

Institutions were heavy buyers in Q4, far outpacing retail investment.

But now, both retail and institutional bitcoin flows are more equally balanced compared with Q4.

The news was reported earlier by Bloomberg.

4. Nearly $40B in US Stimulus Checks May Be Spent on Bitcoin and Stocks: Mizuho Survey

The survey by Mizuho Securities estimates that 10% of the $380 billion to be issued as checks could be used to invest.

The research by Mizuho Securities estimates that, of the $380 billion total, close to 10% could be used to purchase the two asset types, Yahoo Finance reported Monday.

Nearly two in five of Americans expecting to receive checks in the coming days anticipated using a portion of them to invest, the company found.

Bitcoin is expected to account for 60% of the total invested, which could add add as much as 3% to the cryptocurrency’s market value, according to Mizuho Securities Managing Director Dan Dolev.

Dolev cited a number of crypto-adjacent companies that he believes will benefit investors most should they wish to invest in equities: Visa, Mastercard, PayPal and Square.

The survey polled roughly 235 Americans with less than $150,000 in household income, of which around 200 expected to receive payments from the latest round of stimulus.

The $1.9 trillion COVID-19 relief package recently signed into law by President Joe Biden would see eligible Americans receive checks for $1,400.

5. Investview Says It Holds More Than $1M in Crypto on Its Balance Sheet

Investview also reported record net income and sales for the month of February.

New Jersey-based Investview recorded estimated net income of $1.9 million and gross revenue of $5.5 million for the month of February.

Both figures were records, the company announced Monday.

The Venture Market-traded company’s cryptocurrency holdings in BTC and other digital currencies also surpassed $1 million as of Feb. 28.

Investview is a financial technology company that provides cryptocurrency mining technology as well as financial education tools, content and research.

Founded in July 2018, ZBG is a Hong Kong-based cryptocurrency exchange, a global platform of ZB.COM.

ZBG.com has quickly become one of the top 10 exchanges in the world with its innovative, efficient and global operations, and is known as a “New First-Tier” exchange.

Currently, ZBG supports 11 languages, with an average daily activity of more than 160,000, providing over 3 million users around the world with trustworthy cryptocurrency trading, contract trading and other crypto asset investment services.

In the future, ZBG will continue to expand its global market and provide stable, safe and fast blockchain project listing, diversified crypto assets and blockchain derivatives investment services to more blockchain enthusiasts around the world.

ZBG Official English (Telegram): https://t.me/ZBG_Exchange

ZBG Official Chinese(Telegram): https://t.me/ZBG_ChineseOfficial

ZBG Official Bangladesh (Telegram): https://t.me/zbgbangladesh

Twitter:https://twitter.com/ZBG_Exchange

ZBG, World’s top 10 crypto currency exchange.

Link to future value!

ZBG Team

March 16, 2021

Launched in 2018, ZBG is a Hong Kong-based crypto exchange, a subsidiary of ZB.COM. ZBG is focused on providing a trading platform for new and innovative tokens