Kyrgyzstan continues to solidify its position as a regional crypto hub. The country is advancing its digital asset regulation, testing legal frameworks, and launching licensed platforms. One of the key steps in this direction is the launch of A7A5 — a stablecoin pegged to the Russian ruble within the cryptocurrency ecosystem. The token was issued by the Kyrgyz company Old Vector, in full compliance with local regulatory requirements and with the support of the Kyrgyz government. As part of the strategic course set by the country's president, Kyrgyzstan has adopted a comprehensive package of laws regulating the cryptocurrency market. For the first time, the country has introduced full legislation on digital assets, covering all major aspects of the industry — from exchanges to token issuers. This has created a new institutional infrastructure that did not previously exist in the market. Among the unique innovations is the mechanism for registering token issuances under official state supervision. Regulators ensure that token emissions comply with regulatory requirements, have fiat backing, undergo regular audits, and meet obligations to token holders. In essence, Kyrgyzstan provides one of the most transparent and secure tokenization models in the world. The first issuance of A7A5 (mint) was carried out in complete accordance with the new national legislation — under the control of regulatory authorities and directed to an officially registered, regulated broker. The A7A5 token is now available for trading on the regulated exchange Meer Exchange and is expected to be listed on decentralized platforms in the future. Its fiat backing is stored in bank accounts, and its volume is audited by an independent firm on a quarterly basis. The key advantage of A7A5 is the opportunity to earn up to 20% annually, driven by its link to the refinancing rate of the Central Bank of the Russian Federation and additional income strategies in DeFi. The digital asset market is moving toward the integration of traditional finance with decentralized technologies. The emergence of stablecoins has enabled users to: However, despite the overall growth of the segment, stablecoins denominated in other currencies are still in their early stages. Although the segment has seen significant capitalization, stablecoins other than the dollar still have very limited trading volumes: This limits the potential for building robust currency strategies, including FX and carry trades, which are at the core of the global financial market with a daily volume exceeding $7 trillion. To execute a traditional carry trade strategy in the digital space, several key elements are still missing: The launch of A7A5, followed by its listing on both CEX and DEX, marks the first step in expanding the range of tools available to crypto investors, including: A7A5 is designed for investors who are ready to leverage next-generation technologies to achieve higher returns, given the limited alternatives in the world of traditional finance. The listing on Meer Exchange ensures liquidity, transparency, and institutional access to a new class of digital assets tied to the Russian economy and emerging markets. Disclaimer. This publication is sponsored. Cointelegraph does not endorse or assume responsibility for the content, accuracy, quality, advertising, products, or other materials on this web page. Readers are advised to conduct their own research before engaging with any company mentioned. Please note that the featured information is not intended as, and shall not be understood or construed as legal, tax, investment, financial, or other advice. Nothing contained on this web page constitutes a solicitation, recommendation, endorsement, or offer by Cointelegraph or any third party service provider to buy or sell any cryptoassets or other financial instruments. Crypto assets are a high-risk investment. You should consider whether you understand the possibility of losing money due to leverage. None of the material should be considered as investment advice. Cointelegraph shall not be held liable, directly or indirectly, for any damages or losses arising from the use or reliance on any content, goods, or services featured on this web page.

Representative Maxine Waters suggested that any stablecoin bills in Congress should receive no support unless Republicans address Donald Trump's conflicts of interest. California Representative Maxine Waters, ranking member of the US House Financial Services Committee, used her opening statement at a markup hearing to criticize President Donald Trump's business and ethical entanglements with the crypto industry, including the launch of a stablecoin by a family-backed company. Addressing lawmakers at an April 2 hearing, Waters said Trump had used his position as president to leverage “multiple crypto schemes” for profit, including a US dollar-pegged stablecoin launched by World Liberty Financial (WLFI) — the firm backed by his family. The California lawmaker pointed to Trump's memecoin launched in January, his plans to establish a national cryptocurrency stockpile, and “his own stablecoin,” referring to WLFI's USD1 token launched in March. Rep. Maxine Waters addressing the House Financial Services Committee on April 2. Source: GOP Financial Services “With this stablecoin bill, this committee is setting an unacceptable and dangerous precedent, validating the president and his insiders' efforts to write rules of the road that will enrich themselves at the expense of everyone else,” said Waters, adding: Waters does not stand alone in her criticism of Trump's crypto ventures, with many lawmakers and experts across the political spectrum suggesting potential conflicts of interest. Committee Chair French Hill, who spoke on stablecoins before Waters, also reportedly said that the Trump family's involvement in the industry makes legislation “more complicated.” “If there is no effort to block the President of the United States of America from owning his stablecoin business [...] I will never be able to agree on supporting this bill, and I would ask other members not to be enablers,” said Waters. Related: Crypto has a regulatory capture problem in Washington — Or does it? Representative Bryan Steil, who introduced the Stablecoin Transparency and Accountability for a Better Ledger Economy, or STABLE Act, did not immediately address Waters' concerns about Trump's stablecoin but referred to establishing safeguards for consumers. Hill did not mention Trump in his opening statement but said there needed to be a “clear federal framework” for payment stablecoins. The committee will consider amendments to the STABLE Act, as well as bills to combat illicit finance using emerging financial technologies and blocking the US government from issuing a central bank digital currency, or CBDC. The markup hearing was a necessary step before the committee could vote on whether to advance the bills to the House of Representatives. Magazine: Trump's crypto ventures raise conflict of interest, insider trading questions

Bitcoin bulls are trying to clear a critical overhead hurdle at $88,000. Will large-cap altcoins follow? Bitcoin (BTC) bulls have pushed the price above the $87,000 level even as US trade tariffs are slated to kick in on April 2. Bitcoin may remain volatile in the near term, but analysts remain bullish for the long term. According to Fidelity analyst Zack Wainwright, Bitcoin is currently in an acceleration phase, which “can conclude with a sharp, dramatic rally” if history repeats itself. If that happens, Wainwright expects $110,000 to be the starting base of the next leg of the upmove. Crypto market data daily view. Source: Coin360 BitMEX co-founder and Maelstrom chief investment officer Arthur Hayes said in a post that if the Federal Reserve pivots to quantitative easing, then Bitcoin could rally to $250,000 by year-end. Could Bitcoin break above the $89,000 overhead resistance, starting a rally in select altcoins? Let's analyze the charts of the top 10 cryptocurrencies to find out. Bitcoin has risen close to the resistance line, where the sellers are expected to pose a solid challenge. BTC/USDT daily chart. Source: Cointelegraph/TradingView The flattening 20-day exponential moving average ($85,152) and the relative strength index (RSI) just above the midpoint signal the bears are losing their grip. That improves the prospects of a rally above the resistance line. If that happens, the BTC/USDT pair could climb to $95,000 and eventually to $100,000. Alternatively, if the price turns down sharply from the resistance line and breaks below $81,000, it will suggest that the bears are back in the driver's seat. The pair may then tumble to $76,606. Ether (ETH) rebounded off the $1,754 support on March 31, signaling that the bulls are attempting to form a double-bottom pattern. ETH/USDT daily chart. Source: Cointelegraph/TradingView The bears will try to stall the relief rally at the 20-day EMA ($1,965). If the price turns down from the 20-day EMA, the possibility of a break below $1,574 increases. The ETH/USDT pair may then collapse to $1,550. Contrarily, a break and close above the 20-day EMA opens the doors for a rise to the breakdown level of $2,111. If buyers pierce this resistance, the pair will complete a double-bottom pattern, starting a rally to the target objective of $2,468. XRP's (XRP) weak bounce off the crucial $2 support suggests a lack of aggressive buying by the bulls at the current levels. XRP/USDT daily chart. Source: Cointelegraph/TradingView That heightens the risk of a break below $2. If that happens, the XRP/USDT pair will complete a bearish head-and-shoulders pattern. This negative setup could start a downward move to $1.27. There is support at $1.77, but it is likely to be broken. On the upside, a break and close above the 50-day SMA ($2.39) suggests solid buying at lower levels. The pair may then rally to the resistance line, where the bears are expected to mount a strong defense. A break and close above the resistance line signals a potential trend change. BNB's (BNB) recovery attempt stalled at the moving averages on April 1, indicating that the bears are selling on rallies. BNB/USDT daily chart. Source: Cointelegraph/TradingView The bears will try to strengthen their position by pulling the price below $587. If they can pull it off, the BNB/USDT pair could descend to the 50% Fibonacci retracement level of $575 and later to the 61.8% retracement of $559. The deeper the pullback, the greater the time needed for the pair to recover. A break above the moving averages is the first sign that the selling pressure has reduced. The pair may rally to $644 and then to $686, which is likely to attract sellers. Solana (SOL) is getting squeezed between the 20-day EMA ($132) and the $120 support, signaling a possible range expansion in the short term. SOL/USDT daily chart. Source: Cointelegraph/TradingView If the price breaks and closes above the 20-day EMA, it suggests that the buyers have overpowered the sellers. The SOL/USDT pair may rise to the 50-day SMA ($145) and, after that, to $180. This positive view will be invalidated in the near term if the price turns down from the moving averages and breaks below $120. That could pull the price to $110, where the buyers are expected to step in. Dogecoin (DOGE) remains pinned below the 20-day EMA ($0.17), indicating that the bears continue to sell on minor rallies. DOGE/USDT daily chart. Source: Cointelegraph/TradingView The first sign of strength will be a break and close above the 20-day EMA. The DOGE/USDT pair may climb to $0.21, which could act as a strong barrier. If buyers pierce the $0.21 resistance, the pair may rally to $0.24 and later to $0.29. Sellers are likely to have other plans. They will try to defend the moving averages and pull the price below $0.16. If they manage to do that, the pair could descend to the $0.14 support. A break and close below the $0.14 level may sink the pair to $0.10. Buyers are trying to push Cardano (ADA) back above the uptrend line, but the bears are likely to sell near the moving averages. ADA/USDT daily chart. Source: Cointelegraph/TradingView The downsloping 20-day EMA ($0.71) and the RSI just below the midpoint signal that bears have the edge. If the price turns down and breaks below $0.63, the ADA/USDT pair could plunge to $0.58 and thereafter to $0.50. Buyers will have to drive and maintain the price above the 50-day SMA ($0.75) to signal a potential trend change in the near term. The pair could rally to $0.84, which may act as a hurdle. Related: Is Bitcoin price going to crash again? Toncoin (TON) broke above the $4.14 resistance on March 1, but the bulls could not sustain the breakout. TON/USD daily chart. Source: Cointelegraph/TradingView A minor positive in favor of the bulls is that they have not allowed the price to slip much below $4.14. That increases the possibility of a break above the overhead resistance. The TON/USDT pair could rally to $5 and later to $5.50. The 20-day EMA ($3.71) is the critical support to watch out for on the downside. If the support cracks, it will signal that the bulls are losing their grip. The pair may slide to the 50-day SMA ($3.48) and then to $2.81. Chainlink (LINK) tried to rise above the 20-day EMA ($14.32) on April 1, but the bears held their ground. LINK/USDT daily chart. Source: Cointelegraph/TradingView Sellers will try to pull the price to the support line of the descending channel pattern, which remains the key short-term level to keep an eye on. If the price breaks below the support line, the LINK/USDT pair could descend to $10. If buyers want to prevent the downside, they will have to push and maintain the price above the 50-day SMA ($15.47). If they manage to do that, the pair could rally to $17.50 and subsequently to the resistance line. UNUS SED LEO (LEO) turned down from the overhead resistance of $9.90 and plunged below the uptrend line on March 30. LEO/USD daily chart. Source: Cointelegraph/TradingView However, the bears could not sustain the lower levels, and the bulls pushed the price back into the triangle on April 1. The recovery is expected to face selling at the 20-day EMA ($9.60). If the price turns down from the 20-day EMA and breaks below the uptrend line, it increases the risk of a fall to $8. Instead, if the LEO/USD pair breaks above the 20-day EMA, it suggests that the markets have rejected the breakdown. A breakout and close above $9.90 will complete an ascending triangle pattern, which has a target objective of $12.04. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

In an exclusive interview with Cointelegraph, the chief investment officer discusses Bitcoin's risks, institutional adoption and why now could be the best time to invest. If you've ever wondered when is the right time to invest in Bitcoin (BTC), you won't want to miss our latest interview with Matt Hougan. As the chief investment officer at Bitwise, Hougan provides an in-depth analysis, explaining why, from a risk-adjusted perspective, there has never been a more opportune time to buy Bitcoin. In our discussion, Hougan lays out a compelling argument: Bitcoin's early days were filled with uncertainty — technology risks, regulatory threats, trading inefficiencies, and reputational concerns. Fast forward to today, and those risks have significantly diminished. The launch of Bitcoin ETFs, adoption by major institutional investors, and even the US government's strategic Bitcoin reserve have all cemented its place in the global financial ecosystem. “Bitcoin is only 10% of gold. So just to match gold, which I think is just a stopping point on its long-term journey, it has to ten-x from here,” he said. But that's just the beginning. Hougan also touches on Bitcoin's long-term price potential, why institutional adoption is about to accelerate, and how market fundamentals could push Bitcoin to new heights. “There's just too much structural long-term demand that has to come into this market against a severely limited new supply,” he said. Watch the full interview now on our YouTube channel, and don't forget to subscribe!

FDUSD, the stablecoin issued by Hong Kong-based First Digital, has wobbled from its $1 price peg as investor concerns mounted over its reserves, though the company said Wednesday that it was "completely solvent." FDUSD has dropped to 0.87 against Tether's USDT stablecoin and 0.76 against Circle's USDC on Binance, the main exchange where FDUSD is listed. Notably, bitcoin (BTC) also nearly hit 100,000 against FDUSD. The token has stabilized around $0.98-$0.96 later, still trading below its supposed price anchor. The sudden price action happened as CoinDesk earlier Wednesday reported that some of the TrueUSD stablecoin's reserve assets were stuck in illiquid investments, according to filings. Tron founder Justin Sun bailed out the issuer company. First Digital Trust, a trust company affiliated to First Digital, was appointed to manage TUSD reserves. "First Digital Trust (FDT) is effectively insolvent and unable to fulfill client fund redemptions. I strongly recommend that users take immediate action to secure their assets," Tron founder Justin Sun claimed in a Wednesday X post. First Digital refuted the allegations in an X post, saying that "First Digital is completely solvent" and "every dollar backing FDUSD is completely, secure, safe and accounted for with US backed T-Bills." "This is a typical Justin Sun smear campaign to try to attack a competitor to his business. As we told the reporter at CoinDesk, we have not yet had the opportunity to defend ourselves and instead of letting the TUSD matter be dealt with in court, Justin has instead resorted to a coordinated social media effort to try to damage FDUSD as a business competitor," the company said. "FDT will pursue legal action to protect its rights and reputation."FDUSD's latest monthly reserve report showed that the $2 billion of reserve assets were held mostly in U.S. Treasury bills and a lesser part in repo facilities and fixed deposits.Stablecoin analytics firm Bluechip told CoinDesk it gave FDUSD a C grade (on a scale from F as least safe to to A+ being safest) and expressed concerns over reserve assets being bankruptcy remote from the issuer company."FDUSD appears to be backed by reasonably sound reserves. But we concluded that in case of bankruptcy, the reserves could be used to pay off the parent company's debt," Garett Jones, Bluechip's chief economist, said in a message. "It's hard to predict what would really happen in a crisis, but safer stablecoins do exist." UPDATE (Apr. 2, 17:58): Added analyst comment from Bluechip. Updated FDUSD price action. Krisztian Sandor is a U.S. markets reporter focusing on stablecoins, tokenization, real-world assets. He graduated from New York University's business and economic reporting program before joining CoinDesk. He holds BTC, SOL and ETH. About Contact

The spot bitcoin ETFs saw sizable inflows in the first quarter despite the lame price action and at least one analyst sees the next three months as even bigger even if the prices don't recover. “Even if current market conditions persist in the second quarter, we are seeing strong traction from financial advisors and institutional investors," said Juan Leon, senior investment strategist at Bitwise (whose BITB is among the bitcoin ETFs). "While retail interest is weak due to the fixation on price action, professional investors are recognizing the global adoption momentum spurred by the Trump administration's embrace of bitcoin, and many are seeing these market conditions as an opportunity to start or increase an allocation," Leon added. The ETFs saw over $1 billion in inflows in the first quarter of the year despite a challenging macro situation that sent the S&P 500 Index into its biggest quarterly loss since 2022 and bitcoin's 13% plunge. Leon expects inflows to be even stronger in the second quarter — as much as $3 billion or even more as wirehouse platforms unlock and legislative policy progresses. ETF inflows possibly less than meets the eye The $1 billion in first quarter net flows — and whatever the second quarter brings — doesn't necessarily reflect investor interest in buying the bitcoin dip. That's because of the so-called basis trade (also known as cash-and-carry). In this, institutional players buy the spot bitcoin ETF while shorting CME bitcoin futures, picking up yield without exposure to price movement. That yield was well into the double-digits in late 2024 and remained nicely above the risk-free rate throughout much of the first quarter. It's collapsed to the 5% area of late, suggesting arbitrage-related ETF inflows may dry up. Back to bull case: It's still early “While a favorable price environment would certainly be a boost, it's important to remember that adoption of spot bitcoin ETFs by these groups is still in its infancy," said Nate Geraci, president of the ETF Store, who is also bullish on the outlook for inflows throughout the rest of the year.. "As they grow more comfortable allocating to bitcoin, this should provide a meaningful tailwind for inflows,” he added.., While many institutions have indeed already made their first allocations into bitcoin in the past year, it represents only a small fraction of ETF investment, with most of the money still coming from retail investors — something recently noted by BlackRock CEO Larry Fink, whose IBIT is the asset-gathering leader among the spot ETFs. The more favorable regulatory stance toward the industry, not to mention the government's own potential allocation into bitcoin, however, means that ratio could soon shift significantly. During an ETF conference in Las Vegas earlier this month, a survey showed that 57% of advisors plan on increasing their allocations into crypto ETFs this year as crypto has lost its “reputational risk” attribute among advisors. The view that bitcoin could serve as a “safe haven” in times of an economic decline, which investors remain anxious about, could also boost confidence in the asset, especially as fears of a potential recession grow. “If we see continued rate cut expectations, signs of economic uncertainty, or deepening fears of a potential recession in the US, Bitcoin's role as 'digital gold' will likely support additional inflows,” said David Siemer, CEO of Wave Digital Assets. “While some short-term traders may rotate out if price weakness persists, long-term players will continue to keep inflows strong, especially as institutional adoption takes off and drives demand throughout the year." Helene is a New York-based markets reporter at CoinDesk, covering the latest news from Wall Street, the rise of the spot bitcoin exchange-traded funds and updates on crypto markets. She is a graduate of New York University's business and economic reporting program and has appeared on CBS News, YahooFinance and Nasdaq TradeTalks. She holds BTC and ETH. About Contact

According to RWA.XYZ, the total stablecoin market cap is currently over $227 billion, with over 155 million holders worldwide. Sumitomo Mitsui Financial Group (SMBC), a Japanese banking and financial services conglomerate, along with business systems firm TIS Inc, Ava Labs — the developer of the Avalanche network — and digital asset infrastructure company Fireblocks, have signed an agreement to explore a framework for commercializing stablecoins in Japan. Under a Memorandum of Understanding, the companies will focus on developing strategies around issuing and circulating stablecoins pegged to the US dollar and Japanese yen, according to a joint announcement. Additionally, the collaboration will explore stablecoins as a settlement mechanism for tokenized real-world assets such as stocks, bonds, and real estate. Stablecoins continue to be a major focus of crypto regulatory frameworks worldwide, and one of the sectors venture capitalists are eyeing in 2025 as nation-states push stablecoins to the forefront of their digital asset strategies. Stablecoin total market overview. Source: RWA.XYZ Related: Stablecoins, tokenized assets gain as Trump tariffs loom Speaking at the White House Crypto Summit on March 7, US Treasury Secretary Scott Bessent said that comprehensive stablecoin regulation was central to President Donald Trump's stated goal to become the worldwide leader in crypto. Bessent said stablecoins would help protect US dollar hegemony in global markets by expanding the use and scope of the dollar across the world. Centralized overcollateralized stablecoins rely on short-term US Treasury instruments and fiat money held in banks to back the value of the tokenized real-world assets. According to Paolo Ardoino, the CEO of stablecoin issuer Tether, the company is now the seventh-largest buyer of US Treasury bills, beating out sovereign countries such as France, Singapore, Belgium, and the United Kingdom. Stablecoin issuer Tether is now the seventh-largest buyer of US Treasury bills. Source: Paolo Ardoino Stablecoin issuers like Tether and Circle accumulate the yield from holding US debt instruments as part of their profit from issuing tokenized fiat assets to buyers. Recently, calls to share stablecoin yield with customers have escalated, with industry leaders like Coinbase CEO Brian Armstrong proposing that stablecoin laws change in the US to allow firms to distribute yield to clients onchain. US Senator Kirsten Gillibrand disagreed with those proposals and warned against stablecoin issuers sharing yield with clients, arguing that it would displace the banking industry and disrupt home mortgage loans, small business loans, and local bank lending. Magazine: Unstablecoins: Depegging, bank runs and other risks loom

Fidelity Investments rolled out an IRA plan that invests directly in crypto on Wednesday, giving investors another method for tapping this asset class. The brokerage firm offers bitcoin (BTC), ethereum (ETH) and Litecoin (LTC) to any U.S. citizen over the age of 18. The assets are custodied by Fidelity Digital Assets and held in a cold wallet. The crypto IRA product has no fees, and customers can invest in a Roth IRA, traditional IRA or rollover IRA, according to Fidelity's website. The new product comes as financial advisors are increasingly offering crypto to their clients. A survey by TMX Vetta Fi recently showed that 57% of advisors plan on increasing their allocations into crypto ETFs, although their biggest focus is in crypto equity ETFs. “Fidelity is committed to offering investment products and solutions to meet the changing needs and interests of our customers, accompanied by education and support,” a spokesperson told CoinDesk. Clients of the brokerage firm have increasingly voiced interest in a tax-advantaged way to trade and hold crypto, a person familiar with the matter, said. Fidelity already offers a number of crypto exchange-traded funds, which let investors track the prices of digital assets without directly investing in them. The company recently filed to list a Solana ETF on the Cboe Exchange. UPDATE (April 2, 16:15 UTC): Corrects first paragraph to state that the plan was introduced on Wednesday, not Thursday, and clarifies that assets are custodied by Fidelity Digital Assets. Helene is a New York-based markets reporter at CoinDesk, covering the latest news from Wall Street, the rise of the spot bitcoin exchange-traded funds and updates on crypto markets. She is a graduate of New York University's business and economic reporting program and has appeared on CBS News, YahooFinance and Nasdaq TradeTalks. She holds BTC and ETH. About Contact

Ripple, an enterprise-focused blockchain service closely tied to the XRP Ledger (XRP), said on Wednesday it has integrated its stablecoin to the company's cross-border payments system to boost adoption for Ripple USD (RLUSD). Select Ripple Payments customers including cross-border payment providers BKK Forex and iSend are already using the stablecoin to improve their treasury operations, the company said. Ripple plans to further expand the token's availability of its token to payments customers. Additionally, crypto exchange Kraken added RLUSD to its platform, following recent listings on LMAX and Bitstamp. Ripple entered the rapidly growing stablecoin market with its short-term U.S. government bond-backed cryptocurrency after receiving regulatory approval from the New York New York Department of Financial Services in December. Since then, RLUSD reached a $244 million market capitalization, growing 87% over the past month and reaching a monthly transfer volume of $860 million, rwa.xyz data shows. Jack McDonald, Ripple's senior vice president of stablecoins, said in a statement that RLUSD's growth is "outpacing our internal projections" with adoption spanning multiple financial sectors. Ripple is also working with NGOs exploring stablecoins for more efficient aid distribution, he added. Krisztian Sandor is a U.S. markets reporter focusing on stablecoins, tokenization, real-world assets. He graduated from New York University's business and economic reporting program before joining CoinDesk. He holds BTC, SOL and ETH. About Contact

Bitcoin could return to $76,000 lows, analysis warns as risk assets prepare for US trade tariff volatility, but a daily chart breakout is on the cusp of confirming. Bitcoin (BTC) reached new April highs at the April 2 Wall Street open as markets braced for US “Liberation Day.” BTC/USD 1-hour chart. Source: Cointelegraph/TradingView Data from Cointelegraph Markets Pro and TradingView showed local highs of $86,444 on Bitstamp, the best performance for BTC/USD since March 28. Volatility remained in the run-up to US President Donald Trump announcing a sweeping round of reciprocal trade tariffs. The measures would be unveiled in an address from the White House Rose Garden at 4 pm Eastern Time, with Trump then holding a press conference. While US stocks traded slightly down after the open, Bitcoin managed to claw back lost ground, acting in a key area of interest filled with long-term trend lines. As Cointelegraph reported, these include various simple (SMA) and exponential (EMA) moving averages, among them the 200-day SMA — a classic bull market support line currently lost. BTC/USD 1-day chart with 200 SMA. Source: Cointelegraph/TradingView In his latest observations, popular trader and analyst Rekt Capital made additional reference to the 21-week and 50-week EMAs. “The consolidation between the two Bull Market EMAs continues. However, the 21-week EMA (green) represents lower prices as it declines,” he wrote in a post on X alongside an illustrative chart. BTC/USD 1-week chart with 21, 50 EMA. Source: Rekt Capital/X Rekt Capital flagged more bullish news in the making, thanks to BTC/USD attempting to break out of an extended downtrend on daily timeframes. He confirmed: BTC/USD 1-day chart. Source: Rekt Capital/X Last month, Bitcoin's daily relative strength index (RSI) metric broke free from its own downtrend that had been in place since November 2024. Continuing on the macro picture, however, trading firm QCP Capital was uninspired. Related: Bitcoin sales at $109K all-time high 'significantly below' cycle tops — Glassnode Risk assets, it told Telegram channel subscribers on the day, were likely to “remain under pressure” following the tariffs announcement. “In crypto, sentiment remains broadly subdued. BTC continues to trade without conviction, while ETH is holding the line at $1,800 support. Across the board, crypto markets are showing signs of exhaustion with numerous coins down 90% YTD, with some shedding over 30% in the past week,” it summarized. Previous tariff moves in Q1 almost unanimously delivered downward BTC price reactions. Other industry participants were more hopeful, including asset management firm Swissblock, which argued that “no sign of an imminent collapse” occurred on Bitcoin. “Will $BTC hold as a hedge, or follow TradFi into a pullback?” it queried in an X thread on March 31, describing BTC price action as being “at a crossroads.” Bitcoin price momentum chart. Source: Swissblock/X Swissblock saw the potential for a return to $76,000 multimonth lows in the event of a negative reaction — a drop of 11% versus current levels. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Justin Sun bailed out Techteryx's TrueUSD stablecoin after nearly half a billion dollars of its reserves were rendered illiquid, people close to the matter confirmed, and the stablecoin issuer said in Hong Kong court documents. After acquiring TrueUSD from TrueCoin in December 2020, Techteryx appointed First Digital Trust (FDT), a Hong Kong-based fiduciary, to manage its stablecoin reserves. According to documents prepared by U.S. law firm Cahill Gordon & Reindel, FDT was instructed to invest the reserves in the Aria Commodity Finance Fund (Aria CFF), a Cayman Islands-registered vehicle. However, court filings allege that approximately $456 million was instead improperly diverted into Aria Commodities DMCC, a separate, unauthorized entity based in Dubai. Court documents identify Matthew Brittain as controlling Aria Commodity Finance Fund (Aria CFF) through Aria Capital Management Ltd and Cecilia Brittain as the sole shareholder of the separately owned Dubai-based entity Aria Commodities DMCC. However, emails from Aria's Matthew Brittan are signed with an address in Dubai. Court documents say that Cecilia is Matthew's wife. ARIA DMCC engages in trade finance, asset development, and commodity trading, while ARIA CFF finances commodity traders, including ARIA DMCC and third parties, according to Matthew Brittain, who described the relationship between the two companies in an email to CoinDesk. Attestations produced by Moore CPA Limited show, first published by Protos, that FDT managed $501 million of TrueUSD's reserves by November 2024. Hong Kong court filings also say Vincent Chok, First Digital's CEO, allegedly directed around $15.5 million in undisclosed commissions to an entity called "Glass Door" and separately structured approximately $456 million in unauthorized trade finance loans from FDT to Aria DMCC, later retroactively mischaracterizing them as legitimate fund investments in actions plaintiffs describe as fraudulent misrepresentation and misappropriation. "The remittances to Aria DMCC were blatant misappropriation and money-laundering," a statement of claim reads. "They were made without the knowledge, authorization or approval of the Plaintiff." These statements have not been tried in court as of press time. Aria DMCC invested funds in global projects that they described as relatively illiquid, such as manufacturing plants, mining operations, maritime vessels, port infrastructure, and renewable energy ventures. When Techteryx attempted to redeem its investments from Aria CFF between mid-2022 and early 2023 it received little or no funds back, with Aria entities allegedly defaulting on payments and failing to fulfill redemption requests, the court documents say. Techteryx then took full operational control of TUSD in July 2023, after TrueCoin terminated its involvement. As part of a transitional period following the December 2020 sale, TrueCoin continued running the day-to-day operations of TUSD. According to the complaint Cahill prepared for the U.S. DOJ, Sun stepped in around this time to provide emergency liquidity support, which was structured as a loan. The Techteryx team then quarantined 400 million TUSD so that retail redemptions could continue and token holders wouldn't be affected, despite the stablecoin issuer's empty coffers, the court filings said. In response to a request for comment from CoinDesk, First Digital's Chok, categorically denied any wrongdoing or participation in fraudulent schemes. Chok told CoinDesk that First Digital Trust acted strictly as a fiduciary intermediary, executing transactions precisely according to instructions provided by Techteryx and its representatives. He asserted that his company was not responsible for independently evaluating or advising on these investment decisions. "It is our understanding that one of the main blockers voiced by ARIA for early redemptions of funds (as requested by Techteryx) has been their AML/KYC concerns regarding the deal between TrueCoin and Techteryx and the true identity of the ultimate beneficial owner of Techteryx," Chok said in an email to CoinDesk, adding that he believed nobody named in the case considers Aria illiquid. "We have not yet had the opportunity to fully defend ourselves," Chok said in an email to CoinDesk. "We are fully committed to clarifying these matters in due course as the legal and arbitration process continues." Aria Group's Matthew Brittain said to CoinDesk that he "completely rejects Techteryx's claims against ARIA DMCC and any related entities," adding that "a number of false allegations were made in the court proceedings." Techteryx was fully aware of term commitments, Brittain said, and these were outlined in contracts that subscribers have agreed to when investing in ARIA CFF, which are clearly set out in the Offering Memorandum. Brittain also echoed Chok's concerns about Techteryx's beneficial ownership, pointing to Wall Street Journal coverage of the topic. The Hong Kong writ identifies Li Jinmei as the ultimate beneficial owner of Techteryx. A spokesperson for Techteryx confirmed that this is not the same person as Jennifer Yiyang — the previous ultimate beneficial owner of the company — despite some media reporting to the contrary. "The subscriber has not resolved these issues," Brittain continued, referring to the beneficial ownership concerns. While this was happening, TUSD's challenges continued in the form of a collapsing banking partner and regulatory scrutiny in the U.S. In mid-2023, Prime Trust, an independent crypto custodian based in Nevada that is not connected to this case, but which TrueUSD used for its fiat ramps, was put into receivership by state regulators. State regulators alleged Prime Trust had improperly used customer funds to cover withdrawal requests, raising serious concerns about its financial stability. Court filings from Nevada showed that Prime Trust owed around $85 million in fiat obligations with only about $3 million available. This wasn't the last headache for the stablecoin issuer. In September 2024, TrueCoin and TrustToken (the stablecoin's owners before Techteryx) settled with the SEC over allegations they falsely marketed TrueUSD as fully dollar-backed while secretly investing reserves in risky offshore funds. Without admitting wrongdoing, or detailing the nature of their offshore investments with Aria's companies, both TrueCoin and TrustToken agreed to pay civil penalties and disgorge profits to the tune of just over $500,000 to resolve charges of fraud and unregistered securities offerings. For his part, Aria's Brittain said that investing in Aria wasn't the right move to begin with for a stablecoin's reserves. "ARIA CFF has never held [its] strategy out as highly liquid, or appropriate for the reserves of a stablecoin," he said in an email. CORRECTION (April 2, 2025, 16:09 UTC): Corrects reference to court filing versus Department of Justice filing.CORRECTION (April 2, 2025 16:09 UTC): Corrects amount of loans made between Glass Door and FDT. Sam Reynolds is a senior reporter based in Asia. Sam was part of the CoinDesk team that won the 2023 Gerald Loeb award in the breaking news category for coverage of FTX's collapse. Prior to CoinDesk, he was a reporter with Blockworks and a semiconductor analyst with IDC. About Contact

Coreum's blockchain framework is designed for institutional use. It features deterministic fees, compliance integration and interoperability for regulated asset tokenization. A new report by Cointelegraph Research examines the blockchain ecosystem. A new report by Cointelegraph Research explores Coreum's role in institutional blockchain adoption. It analyzes the project's technical architecture, compliance framework and its potential impact on regulated asset tokenization. The report presents insights into transaction efficiency, security mechanisms and crosschain interoperability. It also evaluates how Coreum fits into the evolving financial landscape. The adoption of blockchain technology by financial institutions has been increasing in lockstep, with the value locked in tokenized real-world assets (RWA). The latter grew by 85% in 2024. Our report examines how third-generation blockchains, such as Coreum, are addressing the challenges of scalability, regulatory compliance and interoperability. Improvements in the infrastructure on the base layer will lead to more seamless institutional adoption in the future. Read the full version of the report for free here. Coreum is structured to support applications that require predictable transaction costs, regulatory oversight and seamless integration with financial infrastructure. Network data indicates that Coreum achieves a transaction throughput in excess of 7,000 TPS and a time to finality of about 1.2 seconds. This positions Coreum well in a crowded and highly competitive layer-1 blockchain landscape. Coreum integrates most of its compliance features at the protocol level, a critical factor for institutional adoption. The network includes onchain KYC and AML monitoring in collaboration with AnChain.ai, an AI-driven compliance provider. This is unlike conventional blockchains, where compliance tools are third-party application-layer software. Coreum puts compliance at its foundation together with real-time risk assessment and fraud detection. Our report also analyses Coreum's decentralized exchange (DEX) infrastructure. While many layer-1 blockchains rely on liquidity pools, Coreum features a built-in onchain order book. There are important differences between the models. Coreum's order book DEX allows for deterministic trade execution with minimal slippage, which makes it well-suited for institutional trading strategies. In contrast, AMM-based DEXs rely on liquidity pools that sometimes lead to price inefficiencies and higher exposure to impermanent loss. Coreum's DEX architecture also supports high-frequency trading, with transaction processing speeds comparable to traditional financial exchanges. A notable aspect of Coreum's DEX is its advanced API, which enables integration with institutional trading systems. The API is designed to provide low-latency access to order book data, market execution tools and automated trading strategies. This infrastructure allows financial firms and market makers to integrate Coreum's DEX into their existing trading workflows. It ensures compliance with industry standards and benefits from blockchain-based settlement efficiencies. Read the full version of the report for free here. Coreum's interoperability strategy includes connections with the XRP Ledger (XRPL) and the Cosmos/IBC network. These integrations enable crosschain liquidity and asset transfers, which creates support for financial applications that require seamless movement between blockchain ecosystems. This integration allows institutional users to leverage XRPL's efficiency in payments and Cosmos' modular interoperability framework with over 100 connected chains. The ability to interact with multiple networks without sacrificing security or compliance aligns with institutional requirements for blockchain adoption. Networks designed for institutional adoption will need to address compliance, scalability and interoperability challenges. Coreum's technical structure and regulatory considerations provide a case study for how blockchain networks may evolve to meet these requirements. With its deterministic fee structure, built-in compliance framework and high-speed trading infrastructure, Coreum represents an example of how third-generation blockchains are positioning themselves at the intersection of crypto and regulated financial markets. Read the full version of the report for free here Disclaimer. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author's alone and do not necessarily reflect or represent the views and opinions of Cointelegraph. Cointelegraph does not endorse the content of this article nor any product mentioned herein. Readers should do their own research before taking any action related to any product or company mentioned and carry full responsibility for their decisions.

Crypto asset manager Grayscale has listed two new exchange-traded funds (ETFs) that offer investors a differentiated source of income through bitcoin's (BTC) characteristic volatility. The two New York Stock Exchange-listed funds will start trading on Wednesday. The Bitcoin Covered Call ETF (BTCC) and Bitcoin Premium Income ETF (BPI) offer covered call writing strategies, which involves selling call options to generate income on the premium received. Call options are derivatives contracts betting on the price of an asset rising. They give the holder the right, but not the obligation, to buy the asset at a predetermined price within a define period of time. BTCC will write calls very close to spot prices to deliver income for investors seeking regular cash flow, with the options premiums possibly also providing a cushion against market downturns. BPI meanwhile will target options with strike prices that are well out-of-the-money, meaning the price is much higher than the spot price. This would allow investors to participate in much of BTC's upside potential while possibly benefiting from some dividend income, according to an emailed announcement from Grayscale on Wednesday. The options contracts that both ETFs use will track other bitcoin ETFs, including Grayscale's own Bitcoin Trust (GBTC) and Bitcoin Mini Trust (BTC). Despite the surge in institutional investment into BTC through spot ETFs since their introduction in January 2024, bitcoin's volatility does not appear to be going anywhere for the time being. After gaining nearly 48% in the fourth quarter, the largest cryptocurrency kicked off 2025 by losing 12% in the historically bullish first quarter. It rose by 72% and 69% in the first quarters of 2023 and 2024, respectively, according to data tracked by Coinglass. Therefore, as institutional investors increase their exposure to bitcoin, there may be more demand for products such as Grayscale's that can offer differentiated sources of income to cushion against this volatility. Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE. About Contact

The Trump administration's formation of a U.S. Strategic Bitcoin Reserve might have China re-thinking its hardline stance against crypto and that could be key for accelerated global adoption of BTC, asset manager Grayscale said in a research report Monday. "The most important country to watch in this regard is China," said Grayscale, adding that if the country eases its crypto restrictions "it could significantly boost global adoption." President Trump last month directed his administration to form a Strategic Bitcoin Reserve to — at a minimum — hold the assets that have been seized by the government. Grayscale noted that current Chinese government policy bans most crypto activities, such as trading and mining, but permits the holding of digital assets. Still, "policymakers have allowed an expansion of crypto-related activity in Hong Kong under the 'one country, two systems' framework," Grayscale said. Local regulators may be taking another look at the legal treatment of cryptocurrencies in the country. China's Supreme Court and other judicial bodies had a discussion in February about how to treat digital assets in future legal cases, the report noted. Read more: U.S. Strategic Bitcoin Reserve, Crypto Stockpile a 'Pivotal Moment' for Industry: KBW Will Canny is an experienced market reporter with a demonstrated history of working in the financial services industry. He's now covering the crypto beat as a finance reporter at CoinDesk. He owns more than $1,000 of SOL. About Contact

AVAX lost over half its value during the past year despite the new liquidity, but the crypto market may find its bottom by June amid tariff negotiations. Avalanche saw a significant surge in stablecoin supply over the past year, but the onchain deployment of this capital points to passive investor behavior, which may be limiting demand for the network's utility token. The stablecoin supply on the Avalanche network rose by over 70% over the past year, from $1.5 billion in March 2024, to over $2.5 billion as of March 31, 2025, according to Avalanche's X pos Market capitalization of stablecoins on Avalanche. Source: Avalanche Stablecoins are the main bridge between the fiat and crypto world and increasing stablecoin supply is often seen as a signal for incoming buying pressure and growing investor appetite. However, Avalanche's (AVAX) token has been in a downtrend, dropping nearly 60% over the past year to trade above $19 as of 12:31 pm UTC, despite the $1 billion increase in stablecoin supply, Cointelegraph Markets Pro data shows. AVAX/USD,1-year chart. Source: Cointelegraph Markets Pro “The apparent contradiction between surging stablecoin value on Avalanche and AVAX's significant price decline likely stems from how that stablecoin liquidity is being held,” according to Juan Pellicer, senior research analyst at IntoTheBlock crypto intelligence platform. Related: Bitcoin can hit $250K in 2025 if Fed shifts to QE: Arthur Hayes A “substantial portion” of these inflows consists of bridged Tether (USDT), the research analyst told Cointelegraph, adding: The AVAX token's downtrend comes during a wider crypto market correction, as investor sentiment is pressured by global uncertainty ahead of US President Donald Trump's reciprocal import tariff announcement on April 2, a measure aimed at reducing the country's estimated trade deficit of $1.2 trillion. Related: Michael Saylor's Strategy buys Bitcoin dip with $1.9B purchase Nansen analysts predict a 70% chance that the crypto market will bottom in the next two months leading into June as the ongoing tariff-related negotiations progress and investor concerns are alleviated. “Once the toughest part of the negotiation is behind us, we see a cleaner opportunity for crypto and risk assets to finally mark a bottom,” Aurelie Barthere, principal research analyst at the Nansen crypto intelligence platform, told Cointelegraph. Both traditional and cryptocurrency markets continue to lack upside momentum ahead of the US tariff announcement. BTC/USD, 1-day chart. Source: Nansen “For the main US equity indexes and for BTC, the respective price charts failed to resurface above their 200-day moving averages significantly, while lower-lookback price moving averages are falling,” wrote Nansen in an April 1 research report. Magazine: Bitcoin ATH sooner than expected? XRP may drop 40%, and more: Hodler's Digest, March 23 – 29

Need evidence of the drastic change in the crypto market sentiment lately? Look no further than Deribit's options market, where the $80,000 bitcoin (BTC) put option, offering downside protection below the said level, is now the most popular bet. It's a 180-degree change from early this year when call options at six-figure levels garnered the most interest among traders. As of writing, the number of open positions in the $80,000 put option tallied 10,278 contracts, equating to a notional open interest of $864.26 million, according to data source Amberdata. That makes it the most popular options play on Deribit, where one contract represents one BTC. It also marks a significant positioning shift from early January when the call option at the $120,000 strike was the most popular bet with an open interest of nearly $1.5 billion. Last month, the $100,000 call took the crown. The positioning shift indicates traders have reassessed upside expectations amid the market swoon and lingering economic uncertainty. BTC fell 11.66% in the first quarter, with prices slipping below $80,000 at one point as President Donald Trump's tariffs shook Wall Street. Additionally, disappointment over the lack of fresh purchases in the U.S. strategic reserve weighed over prices. Later Wednesday, Trump is expected to announce sweeping reciprocal tariffs on its trading partners, which could lead to a full-blown trade war. That has BTC traders chasing downside protection. "BTC volatility smiles have shifted sharply towards OTM puts, reaching levels not seen since the US Banking Crisis in March 2023. ETH's short-tenor volatility smile skews have partially recovered from their strong tilt toward OTM put," analytics firm Block Scholes said in its market update Wednesday. Omkar Godbole is a Co-Managing Editor on CoinDesk's Markets team based in Mumbai, holds a masters degree in Finance and a Chartered Market Technician (CMT) member. Omkar previously worked at FXStreet, writing research on currency markets and as fundamental analyst at currency and commodities desk at Mumbai-based brokerage houses. Omkar holds small amounts of bitcoin, ether, BitTorrent, tron and dot. About Contact

You are viewing Crypto Daybook Americas, your new morning briefing on what happened in the crypto markets overnight and what's expected during the coming day. Crypto Daybook Americas will arrive in your inbox at 7 a.m. ET to kickstart your morning with comprehensive insights. If you're not already subscribed, click here. You won't want to start your day without it. By James Van Straten (All times ET unless indicated otherwise) President Trump's so-called Liberation Day has arrived, and markets are nervously awaiting developments on U.S. tariffs. Even within the administration, the mood appears far from optimistic. Commerce Secretary Howard Lutnik is reportedly in the crosshairs, with suggestions he may become the scapegoat for favoring overly aggressive tariffs if the U.S. were to head into a recession, according to The Independent, a U.K. online newspaper. A recession looks likely according to the Atlanta Fed's GDPNow model, which is projecting a first-quarter contraction of -3.7% for U.S. real GDP. That is a dramatic downward revision from earlier estimates: +3.9% two months ago, +2.3% one month ago and -1.8% just two weeks ago. While Trump has yet to disclose which country the tariffs will target, an announcement is scheduled for after the stock market closes at 4 p.m. Bitcoin (BTC), meanwhile, remains unfazed, trading little changed on the day and holding above $85,000. U.S. equities finished higher on Tuesday, although futures are pointing slightly negative heading into Wednesday. Currently, bitcoin is 25% below its Jan. 20 all-time high of $109,000. This places it in the middle of the performance range of the "Magnificent 7" tech stocks. Here's how they compare to their respective all-time highs: Apple is down 17%, Microsoft 22%, Amazon 24%, Meta 25%, Google 26%, NVIDIA 32% and Tesla 50%. The cryptocurrency's resilience stands out when compared to past cycles. In 2022, BTC fell 75% from its peak to a low of $15,500, more than twice as much as the Nasdaq-100 ETF (QQQ)'s 34%. This year, bitcoin has dropped 30% versus 16% for QQQ — a relative drawdown of 1.87 times. This relative performance suggests bitcoin has become more resilient over time, even as volatility remains a defining trait. Still, a lot hinges on the tariff announcement and how markets react. Stay alert! By Shaurya Malwa Spot BTC ETFs: Spot ETH ETFs Source: Farside Investors James Van Straten is a Senior Analyst at CoinDesk, specializing in Bitcoin and its interplay with the macroeconomic environment. Previously, James worked as a Research Analyst at Saidler & Co., a Swiss hedge fund, where he developed expertise in on-chain analytics. His work focuses on monitoring flows to analyze Bitcoin's role within the broader financial system. In addition to his professional endeavors, James serves as an advisor to Coinsilium, a UK publicly traded company, where he provides guidance on their Bitcoin treasury strategy. He also holds investments in Bitcoin, MicroStrategy (MSTR), and Semler Scientific (SMLR). Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis. Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, BANANA, ROME, BURGER, SPIRIT, and ORCA. He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and SUN. Omkar Godbole is a Co-Managing Editor on CoinDesk's Markets team based in Mumbai, holds a masters degree in Finance and a Chartered Market Technician (CMT) member. Omkar previously worked at FXStreet, writing research on currency markets and as fundamental analyst at currency and commodities desk at Mumbai-based brokerage houses. Omkar holds small amounts of bitcoin, ether, BitTorrent, tron and dot. About Contact

XRP price is holding above $2.05 after modest gains on April 1, while the RSI's bullish divergence signals a potential bottom. XRP (XRP) price fell 22% between March 19 and March 31, potentially forming a local bottom at $2.02. The price then increased by 9% to $2.20 before retracing to current levels. Has the popular altcoin finally bottomed out, or is there a deeper retracement in the cards? The XRP relative strength index (RSI) displays bullish divergence conditions in lower timeframes, according to analyst CasiTrades. A bullish divergence is when the asset's price prints lower lows and the RSI produces higher lows, indicating that downward momentum is waning. “After reaching the 0.786 retrace at $2.05, XRP is printing bullish divergences from the 15-min all the way up to the 4-hour chart,” the analyst said in a March 31 post on X. CasiTrades notes that these signals are a positive indicator both for short-term bounces and potential macro recovery. XRP/USD hourly chart. Source: CasiTrades She added that $2.25 remains a key resistance level to watch, as breaching it with strong momentum would signal a convincing bullish breakout. “If we break above $2.25 with strong momentum, that would invalidate the need for another support retest, a very bullish sign,” CasiTrades said, adding that the demand zone between “$2.00 and $2.01 remains a support if the $2.05 doesn't hold.” The analyst projects a bullish month for XRP in April, with targets of $2.70 and $3.80 in the short term. Related: XRP funding rate flips negative — Will smart traders flip long or short? Despite XRP's recent recovery from local lows, the risk of a deeper correction remains, according to veteran trader Peter Brandt. Last week, Brandt said the presence of a “textbook” head-and-shoulders pattern (H&S) could see XRP price as low as $1.07. This potential H&S pattern is still in play on the daily chart (see below) and will be completed on a break and close below the neckline at $1.90. If the price stays below the neckline, the pair could plummet to $1.50 and then to the pattern's target of $1.07. Brandt said: XRP/USD daily chart with H&S pattern. Source: Cointelegraph/TradingView Brandt said this bearish chart pattern would be invalidated if buyers push and maintain the price above $3.00. Meanwhile, macroeconomic headwinds from US tariffs on April 2 may spook traders, pulling the XRP price toward $1.31. Not everyone agrees. Analyst Dark Defender shared a positive outlook, saying that XRP price is likely to revisit the last Fibonacci level at $2.04 before bouncing back again. According to the analyst, a key resistance level for XRP is $2.22, which “should be broken” to ensure a sustained recovery toward the Wave 5 target at $8. XRP/USD daily chart. Source: Dark Defender This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Wednesday could be a pivotal day for financial markets, including cryptocurrencies, as President Donald Trump is expected to announce sweeping reciprocal tariffs to "liberate" the U.S. from the supposed unfair practices of its trading partners. Ahead of the pivotal announcement, signs of downtrend exhaustion have emerged in the ether (ETH) market. Yes, you read that right: after having lagged BTC by a large margin through the two-year bull crypto bull run, ETH may take the lead if the looming tariffs are more measured than expected. Ether fell along with bitcoin last week, but the bears failed to penetrate the 16-month low of $1,755 hit on March 11. That's the first sign of seller fatigue or downtrend exhaustion. Since then, prices have bounced to $1,880, teasing a double bottom formation with the neckline resistance at $2,104. A move through that would confirm the bullish breakout, opening doors for $2,400, the level identified as the next resistance per the measured move method. While prices revisited the low from March 11 last week, the histogram that represents the spread between the price and its 50-day simple moving average (SMA) did not follow suit and carved put a higher low. The divergence suggests that although prices fell, the momentum behind the downward price movement weakened. After a prolonged downtrend that saw prices halve to $2,000, the three-line break chart has now flipped bullish, marking a significant shift in market sentiment. This change is illustrated by the appearance of a green bar on the daily time frame, indicating a potential reversal in price momentum. The line break's previous bullish signal from early March was short-lived and turned out to be a bear trap. Still, the latest bullish flip appears more reliable as it is accompanied by signs of downtrend exhaustion on candlestick charts discussed above. That said, macro factors can single handedly make or break charts, meaning broad-based risk aversion on the back of Trump tariffs could invalidate all the bullish signals discussed above, potentially leading to deeper losses in ether. Omkar Godbole is a Co-Managing Editor on CoinDesk's Markets team based in Mumbai, holds a masters degree in Finance and a Chartered Market Technician (CMT) member. Omkar previously worked at FXStreet, writing research on currency markets and as fundamental analyst at currency and commodities desk at Mumbai-based brokerage houses. Omkar holds small amounts of bitcoin, ether, BitTorrent, tron and dot. About Contact

7-Eleven is participating in the country's CBDC test phase, which started on April 1 and will end on June 30. South Korea's 7-Eleven stores will accept payments in the country's central bank digital currency (CBDC) until June, as the retailer participates in the test phase of its CBDC project. The convenience store chain will reportedly provide a 10% discount on all products paid for with CBDC during the test period. According to Moon Dae-woo, head of 7-Eleven's digital innovation division, the company is making an effort to incorporate digital technology advancements in its operations. The executive added that the company's participation in the CBDC test will help accelerate the firm's digital transformation. Many stores will participate in South Korea's CBDC testing phase, which runs from April 1 to June 30. The project also involves 100,000 participants who will be allowed to test payments using CBDC issued by the central bank. Central bank digital currencies are digital assets issued by government agencies. Like other digital assets, CBDCs offer faster and more modernized payment features. However, unlike Bitcoin and other privacy-focused tokens that offer certain levels of anonymity, CBDCs are controlled and monitored by governments. Related: Over 400 South Korean officials disclose $9.8M in crypto holdings On March 24, government agencies including the Bank of Korea, the Financial Services Commission (FSC) and the Financial Supervisory Service (FSS) announced the CBDC test. Participants can convert their bank deposits into tokens stored in a distributed ledger during the test period. The tokens hold the same value as the Korean won. The government agencies said citizens aged 19 or older with a deposit account in a participating bank could apply to take part. Registrations were limited to 100,000 participants. KB, Koomin, Shinhan, Hana, Woori, NongHyup, IBK and Busan are among the banks participating in the CBDC tests. Apart from 7-Eleven, participants can use their CBDCs in coffee shops, supermarkets, K-Pop merchandise stores and delivery platforms. However, users will be limited to a total conversion limit of 5 million won ($3,416) during testing. The Bank of Korea first announced the retail CBDC testing for 100,000 users in November 2023 and was originally scheduled to begin in the fourth quarter of 2024. The FSS said the country's CBDC test represents a step toward creating a prototype for a “future monetary system.” Magazine: Ridiculous ‘Chinese Mint' crypto scam, Japan dives into stablecoins: Asia Express