  Everything you need to make sense of the crypto markets and beyond By the CoinDesk Markets Team Edited by Lawrence Lewitinn, Managing Editor, Global Capital Markets April 28, 2021 Sponsored by  (Price data as of April 28 @11:00 UTC) If you were forwarded this newsletter and would like to receive it, sign up here.
Good morning. Here's what we're writing about:
Check out the CoinDesk TV show "First Mover," hosted by Christine Lee, Lawrence Lewitinn and Emily Parker, at 9 a.m. U.S. Eastern time. Today the show will feature guests:
Biggest Movers These are the biggest movers in the CoinDesk 20 over the past 24 hours:
Gainers:
Losers:
The CoinDesk 20 are 20 digital assets filtered from the larger universe of thousands of cryptocurrencies and constitute roughly 99% of the market by volume at eight of the largest and most trustworthy exchanges.
Market Moves by Omkar Godbole  Dogecoin Miners Revenue Up 4,500% This Year The dogecoin (DOGE) army is not the only one making a killing this year. Miners responsible for generating the Shiba Inu-themed cryptocurrency may also be laughing their way to the bank.
 Dogecoin daily miner revenue (Source: ByteTree)
 Dogecoin: Daily transaction fees and transaction count (Source: Coin Metrics)
Read the original story here:
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* Up to 12% interest on digital assets, paid out daily! * Yields available on BTC, ETH, LTC, BCH, XRP, XLM, EOS, TRX, LINK, BNB, PAXG, USDT, USDC, TUSD, PAX, DAI, HUSD, GBP and EUR. * No minimum or maximum limits on funds deposited, offering infinite opportunities to earn. * #ZeroFees on all transactions. * Military-grade wallet security and top-tier insurance on all custodial assets with SOC 2 Type 2 certified crypto custodian BitGo. |
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Technician's Take
by Damanick Dantes
Bitcoin Stalls at $56K Resistance; Support Within Reach
Bitcoin (BTC) has traded in a tight range over the past two days after rallying nearly 18% from the April 25 low around $47,000. The cryptocurrency was trading around immediate support at $54,700 at the time of writing and has nearly retraced 50% of the prior two-week downtrend. Lower support is around $52,000.
Hourly BTC chart shows recent trading range with support and resistance levels alongside RSI (Source: TradingView)
- BTC stalled just below $56,000 resistance after the relative strength index (RSI) reached overbought levels on intraday charts.
- Lower highs on the hourly RSI indicates slowing upside momentum after the 18% price rally. Typically slowing momentum suggests profit taking as buyers look to establish positions at lower support levels.
- BTC is trading just above the 50-period volume weighted moving average on the hourly chart, which could provide immediate short-term support.
- BTC will need to return above $56,000 to sustain the recovery from last week's sell-off.
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A message from Residual
Our software platform leverages blockchain's near instantaneous, immutable settlement capabilities and eliminates latency and costly transaction fees. By bridging the gap between traditional financial services and today's cutting edge technology, unFederalReserve can help thousands of non-bank lenders and borrowers around the world. The eRSDL community is diverse and inclusive, encourages engagement and ongoing support for each other, and is dedicated to DeFi projects that de-risk at every opportunity. We are pleased to welcome the first product in our ecosystem, the Reserve Lending platform - the beginning of a robust treasurer's tool kit that will streamline future banking transactions.
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BOLO
Be on the look out for these upcoming events:
- 20:00 UTC (2:00 p.m. ET): Federal Reserve Chair Jerome Powell to speak after start of two-day FOMC meeting.
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A message from CoinDesk
CoinDesk's Quarterly Review Webinar Series
The suits are here to stay, but retail isn't going away. While Q1 saw the emergence of retail investors as a market driver, crypto caught explosive interest through non-fungible tokens from investors, celebrities and the general public.
Every Monday at 11:30 a.m. ET, crypto analysts Noelle Acheson and Christine Kim will discuss the performance and milestones of bitcoin and ether compared to macro and other crypto assets, along with important developments in the emerging DeFi and NFT sectors.
Each episode in this four-part series will reference key findings from the latest CoinDesk Quarterly Review report and a live Q&A.
Sign up for CoinDesk's Quarterly Review Webinar Series, every Monday from April 12.
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ICYMI
In case you missed it, here's the most recent episode of "First Mover" on CoinDesk TV:
Will Bitcoin's Momentum Continue as It Breaks $55K? Crypto Industry's Response to India's Covid Crisis
"First Mover" goes to India to speak with Neeraj Khandelwal, CEO of CoinDCX. How is India's largest crypto exchange responding to that country's Covid crisis? Is the regulatory environment affecting crypto relief efforts, and what is the state of the crypto industry generally in India right now? Also, Daniel Lacalle of Tressis Gestión joins today's markets discussion, and Hong Fang of OKCoin on what it's like being the only woman CEO of a U.S. crypto exchange.
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Introducing CoinDesk Indexes
TradeBlock, the leader in providing crypto asset indexes to financial institutions, will now assume the CoinDesk name.
Introducing CoinDesk Indexes: the industry standard for institutional-grade digital currency price references with billions of dollars in monthly trading volume quoted against them.
Underlying new brand names, TradeBlock's index methodology will continue to adhere to the standards of integrity and reliability that have always differentiated its indexes.
Read more about CoinDesk Indexes, the industry standard in crypto benchmarks.
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Latest Headlines
- Turkish Government Plans Central Custodian Bank to Manage Crypto Risk: Report
Authorities are also contemplating a capital threshold for crypto exchanges and education requirements for the executives at the firms, Bloomberg said, citing an unnamed official. -
Square Adds Bitcoin Policy Lead From US Chamber of Commerce
Julie Stitzel was at the U.S. Chamber of Commerce's Center for Capital Markets Competitiveness prior to joining Square.
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US Officials Arrest Alleged Operator of $336M Bitcoin Mixing Service
Roman Sterlingov faces three charges: unlicensed money transmission, money laundering and money laundering without a license.
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Asian Video Game Publisher Nexon Buys $100M in Bitcoin
The purchase represent less than 2% of Nexon's total cash and cash equivalents on hand, the firm says.
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BitMEX Launches New Program to Reward Partners, Drive Platform Traffic
The program is an attempt to spur new user growth and reinvent the platform's image.
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Coinbase Pro Delays Rollout of Tether Trading Citing API Issues
Coinbase has said it is continuing to work on the backend while it resolves the issue.
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Dogecoin Spikes on Elon Musk's SNL Tweet
The Tesla CEO referred to himself as "The Dogefather" ahead of his SNL appearance on May 8.
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DBS, JPMorgan and Temasek to Create Blockchain-Based Payments Joint Venture
The platform, to be dubbed "Partior," will seek to disrupt the traditional payments model and the common pain points that come with it.
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Malaysian Delivery App Bungkusit to Use Blockchain to Avoid Customer Disputes
A delivery photo, as well as other details such as the order, location and drop off are recorded and stored on a blockchain.
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CoinDesk Research: Does Bitcoin Have an Energy Problem?
Is Bitcoin bad for the environment? This CoinDesk Research report looks at the data behind the most common critiques and shows that, while Bitcoin uses a lot of energy, the mix is evolving toward renewables. Bitcoin also incentivizes investment in clean energy sources, can convert pollution into value, and redistributes wasted power production.
Download the free report.
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Disclaimer: The information presented in this message is intended as a news item that provides a brief summary of various events and developments that affect, or that might in the future affect, the value of one or more of the cryptocurrencies described above. The information contained in this message, and any information liked through the items contained herein, is not intended to provide sufficient information to form the basis for an investment decision. The information presented herein is accurate only as of its date, and it was not prepared by a research analyst or other investment professional. You should seek additional information regarding the merits and risks of investing in any cryptocurrency before deciding to purchase or sell any such instruments.
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