Connect with us

Business

Price updates: BTC, ETH, BNB, XRP, ADA & SOL

BTC rebounded after dropping near its realized price of $24,000, suggesting that some bulls went against the herd and bought at the dip.

Published

on

BTC rebounded after dropping near its realized price of $24,000, suggesting that some bulls went against the herd and bought at the dip.

BTC

Bitcoin bounced off $26,700 and formed a Doji candlestick pattern. This suggests that the selling pressure could be dropping. The recovery picked up steam and bulls pushed the price above the psychological level at $30,000. The relief rally may face resistance near $33,000 and again at the 20-day EMA of $34,903. If the price turns down from the overhead resistance, the bears will make another attempt to sink  BTC  below $26,700 and restart the downtrend.

ETH

ETH broke below the $2,159 support on May 11 and later slipped below the psychological level at $2,000. The bulls bought at the dip of $1,800, which has started a relief rally. The buyers will now attempt to push the price above the breakdown level at $2,159. If they are successful ETH could pick up momentum and rally to the 20-day EMA of $2,554.

BNB

BNB fell sharply but the long tail on the day’s candlestick shows that bulls are aggressively defending the critical support at $211. This started a relief rally that has reached the $350 to $320 resistance zone. If bulls drive the price above $350, it will suggest that the decline may be over.

XRP

XRP plummeted to $0.33 when buying emerged. The bulls are attempting a recovery that is likely to face stiff resistance at the psychological level at $0.50. If the price turns down from $0.50, the bears will again attempt to pull  XRP  to $0.33.

ADA

ADA plunged to $0.40 , which pulled the RSI into the deeply oversold territory. The buyers bought at this dip and are attempting to start a relief rally. ADA could rise to the breakdown level at $0.74, which is an important level to keep an eye on.

SOL

SOL has been in a strong downtrend for the past few days. The price dipped to $37, which pulled the RSI deep into the oversold territory. This started a relief rally and the bulls are likely to encounter selling in the zone between the 38.2% Fibonacci retracement level at $59 and the 50% retracement level at $66. If the price turns down from this zone, the bears will attempt to resume the downtrend by pulling the pair below $37.

Business

7-Eleven South Korea to accept CBDC payments in national pilot program

Published

on

7-Eleven is set to participate in the testing phase of a central bank digital currency (CBDC) initiative, running from April to June. The retail giant’s involvement highlights the growing push for digital currency integration in everyday transactions.

The pilot program will assess the feasibility of CBDC payments at 7-Eleven stores, allowing customers to make purchases using the digital currency. The initiative is part of a broader effort to explore the real-world application of CBDCs in retail environments, potentially shaping future payment systems.

As central banks worldwide accelerate their digital currency research, private sector collaboration is seen as crucial for widespread adoption. If successful, 7-Eleven’s participation could pave the way for broader CBDC usage across retail and commercial sectors.

The outcome of the testing phase will provide valuable insights into consumer adoption, transaction efficiency, and potential regulatory considerations, influencing how CBDCs are integrated into mainstream financial systems.

Continue Reading

Business

SEC and Gemini ask to pause lawsuit to explore ‘potential resolution’

Published

on

The U.S. Securities and Exchange Commission (SEC) and crypto exchange Gemini have agreed to pause legal proceedings as both sides explore a potential resolution to their ongoing lawsuit. The move signals a possible settlement in the high-profile case, which centers around Gemini’s now-defunct Earn program.

The SEC initially sued Gemini, alleging that the Earn program—designed to offer users yield on crypto deposits—operated as an unregistered securities offering. Gemini has pushed back against the claims, arguing that its operations complied with regulatory standards.

By pausing litigation, both parties may be looking for a compromise that could set a precedent for crypto lending products in the U.S. A settlement could also provide regulatory clarity for similar platforms navigating SEC scrutiny.

While the outcome remains uncertain, the crypto industry is closely watching the case, as its resolution could impact future enforcement actions and the broader regulatory approach toward digital asset lending services.

Continue Reading

Business

GameStop finishes $1.5B raise to add Bitcoin to its balance sheet

Published

on

GameStop has successfully completed a debt offering, raising capital that may be used to acquire Bitcoin, signaling the company’s deeper foray into digital assets. The move aligns with its broader strategy to diversify beyond traditional retail operations and into emerging financial technologies.

While GameStop has not confirmed the exact allocation of the funds, market speculation suggests that a portion could be used to buy Bitcoin, following in the footsteps of companies like MicroStrategy. The potential investment would reinforce GameStop’s ongoing pivot toward blockchain and digital assets, an effort that began with its NFT marketplace and crypto-related initiatives.

Analysts see this development as part of a growing trend of corporations exploring Bitcoin as a reserve asset amid concerns over inflation and monetary policy. If GameStop proceeds with the acquisition, it could further validate Bitcoin’s role as a strategic investment for publicly traded companies.

The company’s board will ultimately decide how the newly raised capital is deployed. Investors and the broader crypto market are watching closely for any official announcements regarding GameStop’s Bitcoin strategy.

Continue Reading

Trending

Copyright © 2025 cryptonews.lk