• Bitcoin (BTC) started the week trading above $28,000 as markets responded to the deepening global banking crisis. Ethereum (ETH) consolidated recent gains during Monday’s session, as prices fell below $1,800.
• Several major G7 central banks took coordinated action to enhance market liquidity in light of Credit Suisse being bought out by rival UBS.
• BTC/USD jumped to an intraday peak of $28,527.72 earlier today while ETH/USD dropped to a bottom at $1,744.86 to start the week.

Bitcoin Above $28K

Bitcoin (BTC) was trading above $28,000 on Monday as cryptocurrencies extended a bull run to start the week. This upward sentiment comes after several major G7 central banks made coordinated moves to enhance market liquidity in light of Credit Suisse being bought out by rival UBS. BTC/USD jumped to an intraday peak of $28,527.72 earlier today and is now at its strongest point since last June with many now anticipating a move above $30,000.

Ethereum Falls Below $1,800

Meanwhile Ethereum (ETH) consolidated its recent gains during Monday’s session and prices fell below $1,800 following a high of $1,843.84 on Sunday. ETH/USD dropped to a bottom at $1,744.86 to start the week as ethereum bulls appeared be securing their gains after ETH rose to its highest point since August 2020.

RSI Overbought for Bitcoin

The rally has sent bitcoin into overbought territory with its 14-day relative strength index (RSI) tracking at 72.73 and next visible point of resistance appearing at 75 .00 should this be hit there is strong chance BTC will be at 30k .

RIS Below Ceiling For Ethereum

On the other hand some attribute etheruem’s decline RSI which fell below longterm ceiling 66 .00 mark ,at time writing index was tracking 63 .74 with floor 62 .00 possible target for bears .

Conclusion

Overall crypto markets had positive start this week with bitcoin showing strong potential break 30k barrier while ethereum consolidating recent gains but still looking bullish all signs pointing more upside coming short term could ethereum hit 2000 and bitcoin 30000 this month ?

• Fiserv, a global payments company, recently released a study on the payment preferences of Argentines.
• It found that 34% of Argentines prefer to use QR and digital wallets for their payments, replacing cash and credit card preference.
• Jorge Larravide, a specialist in means of payment, commented about the evolution of payments in the country, highlighting the advantages these digital options bring.

Overview

A recent study made by Fiserv, a global payments company, shows that QR and digital wallets have grown significantly as payment options in Argentina while credit card preference has stagnated and cash for payments has decreased.

Preference for Digital Payments

The study found that the payment preferences of Argentines have shifted towards QR code and digital wallet transfers. According to the study 34% of Argentines prefer to use QR and digital wallets for their payments, reaching the same preference percentage that debit cards have. The preference for credit cards has stagnated while cash payments have decreased with only 14% choosing it over other options in the country.

Growth of QR Payments

QR payments have also grown in Argentina with one out of every four transactions being settled using this kind of payment within its interconnected system. These results show that there is an increasing trend towards digital options which has increased 11% from last year while decreasing cash and debit card preference.

Commentary from Specialist

Jorge Larravide, a specialist in means of payment commented on this shift towards digitalization due to its convenience at time of paying as well as discounts offered by merchants when opting for these kinds of payment. In September last year it was reported that 3.15 million payments were made with QR codes setting a record high since its implementation in 2021.

Conclusion
This report highlights how Argentines are slowly turning to digital payments as part part their everyday arsenal to settle transactions replacing legacy methods like cash or debit cards due to their advantages such as convenience at time of paying or discounts offered by merchants when opting for these kinds of payment methods

• XRP and MATIC both gained in Tuesday’s session, as prices continue to move away from a long-term support point.
• The 14-day relative strength index (RSI) for XRP broke out of its own ceiling at 43.00, suggesting more bullish momentum ahead.
• Polygon (MATIC) also moved higher in today’s session, as bulls rejected a breakout at an important price level.

Biggest Movers: XRP and MATIC Rebounding on Tuesday

XRP and MATIC were two of the biggest gainers in Tuesday’s session, as prices continued to move away from a long-term support point. The global market cap was down 0.34% as of writing, but sentiment in cryptocurrencies remained largely bearish.

XRP Recovery

XRP rose higher on Tuesday following a low of $0.3648 to start the week. Prices reached an intraday high of $0.3751 earlier in the day, bouncing from a long-term price floor at $0.3650 after a recent four-day losing streak. This could be seen as the 14-day relative strength index (RSI) breaking out of its own ceiling at 43.00 before tracking at 43.97 with the next visible resistance point being 45.00. If this is hit, there is potential for XRP to trade above $0.3800 mark soon afterwards..

Polygon Gaining Momentum

Polygon (MATIC) also rose higher in today’s session after bulls rejected a breakout at an important price level yesterday morning.. Prices moved to a peak of $1

• Two Zimbabwean startups, Flexid and Uhuru Wallet, have launched a platform to offer digital identity and remittance services to Zimbabwean immigrants in South Africa.
• The platform is the first cross-chain collaboration between the two companies, harnessing the Algorand blockchain (Flex ID) and the Stellar blockchain (Uhuru Wallet).
• The platform aims to tackle high sending fees, limited access to formal financial services, and identity verification issues for Zimbabwean immigrants.

Zimbabwean Blockchain Startups Launch Service

Two Zimbabwean startups, Flexid and Uhuru Wallet, recently launched a platform that offers digital identity and remittance services to migrants living and working in South Africa. The two startups hailed what they’ve described as the “first cross-chain collaboration between the two companies.”

Harnessing the Benefits of the Blockchain

The Zimbabwean blockchain startup Flex ID and the South Africa-based Whatsapp remittance platform, Uhuru Wallet, recently said they have launched a platform that offers “combined digital identity and remittance services to millions of Zimbabwean immigrants in South Africa.” In a statement shared with Bitcoin.com News, the two startups hailed what they described as the “first cross-chain collaboration between the two companies.” As revealed in the statement, Flex ID harnesses Algorand blockchain while Uhuru Wallet is built on Stellar blockchain.

Addressing Financial Services Issues

Remarking on the two startups’ joint solution, Trust Jakarasi , CEO & Founder of Uhuru Wallet said: We are excited to partner with FlexID to offer our customers a more streamlined and secure remittance experience. By combining our strengths in digital identity and remittance services, we can better serve the needs of Zimbabwean immigrants in South Africa. Some of these challenges which include providing seamless & secure remittances experience are expected to be tackled via this partnership. It also plans on overcoming high sending fees & limited accessto formal financial services along with identity verification issues too.

Benefits of Leveraging Blockchain Technology

Victor Mapunga who co-founded FlexID spoke about leveraging blockchain technology & its importance by saying “By leveraging blockchain technology we can provide secure & efficient way for users to verify their identity & access financial services no matter where they are”.

High Cost Of Sending Remittances

South Africa is one of biggest senders if sub Saharan African countries however it costs anywhere between 5%-20% when using registered money transfer agencies for sending money from SA To Zim forcing many migrants from Zim use alternatives such as couriers or unregistered platforms instead .

• Federated Learning Consortium (FLC) is set to launch in Hong Kong, China as a for-profit research consortium.
• FLC’s vision is centered on researching, developing, and promoting cutting-edge technologies surrounding federated AI.
• Organizations that join FLC will be able to deliver new technology solutions that were not possible on a standalone basis.

Federated Learning Consortium Launches in Hong Kong

The Federated Learning Consortium (FLC) is set to launch as a for-profit research consortium in Hong Kong, China. Founded by blockchain technology platform Phoenix and leading China-based consumer data and AI company APEX Technologies, the organization will focus on researching, developing, and promoting cutting-edge technologies surrounding federated AI.

Open Membership for Technology Companies

Organizational membership will be open to AI related technology firms, blockchain firms, and system integrators – the goal is to be able to provide holistic, implementable, and highly performant solutions for the broader market. Currently FLC already has an initial roster of machine learning and federated learning experts from leading China-based firms such as HuaAT (华院数据), FuData (富数科技), and Tencent. Individual membership is also available for academics and industry experts.

Research Focus

FLC will be focused on developing technology solutions for various different verticals including retail, financial services, automotive, asset management, IoT, and government. This includes combining large-dataset deep learning technologies such as reinforcement learning with highly performant infrastructures using GPU computing using a decentralized/federated approach as well as exploring blockchain-enabled AI , multi-party computation (MPC), and TEE (trusted execution environment).

Benefits of Joining FLC

Through internal partnerships and joint research projects within the organization members can deliver new techonology solutions that would not have been possible previously on their own. By joining FLC organizations can gain access to cutting edge technologies which they can use to develop innovating products or services within their verticals of focus while also gaining visibility amongst other members in the field of federatedAI .

Conclusion

The Federated Learning Consortium (FLC) launching in Hong Kong provides an opportunity for organizations interested in leveraging cutting edge technologies such as federated learning or blockchains enabled AI among others , access resources which otherwise would have been difficult or impossible if attempted alone . Additionally individual experts are welcomed into FLC providing them an opportunity to collaborate with like minded people from across industries .

• Polygon (MATIC) surged to a ten-month high earlier in the day, rising for a third consecutive session.
• Avalanche (AVAX) extended recent gains on Thursday, leading to prices hitting a one-week high.
• Overall, cryptocurrency markets rebounded from recent losses, with the global market cap up 5.90% at the time of writing.

Polygon Reaches 10-Month High

Polygon (MATIC) rallied to a ten-month high on Thursday, as the token rose for a third straight session. MATIC/USD moved to a peak of $1.39 earlier in today’s session, which comes a day after trading at a low of $1.27. As a result of Thursday’s high, MATIC/USD jumped to its strongest point since April last year.

Avalanche Hits One Week High

Avalanche (AVAX) also surged on Thursday, hitting a one-week high. Following a low of $18.39 on hump-day, AVAX/USD raced to an intraday high of $20.31 earlier in the day. This resulted in avalanche climbing to its highest point since February 8th when the token last collided with a ceiling at $21.00 .

Cryptocurrency Markets Rebound From Recent Losses

Overall, cryptocurrency markets rebounded from recent losses, with the global market cap up 5.90% at the time of writing The relative strength index (RSI) for polygon moved close to 70%, while that for avalanche was hovering around 55%.

Technical Analysis

Looking at the chart for polygon and avalanche separately shows that both tokens have had mini bull runs this week after both bouncing off floors and ceilings respectively . Polygon bounced off from$ 1 . 20 while Avalanche bounced off from$ 18 . 39 and reached early highs today before cooling down again , bringing their RSI levels back closer towards their respective floors and ceilings .

Conclusion

In conclusion , both Polygon and Avalanche have seen significant price increases over the past few days , with Polygon reaching its highest point since April 2020 and Avalanche reaching its highest point since February 8th 2021 . Overall , cryptocurrency markets have been recovering from recent losses and are showing signs of further growth potential .

•Central Bank of Brazil to test security and transaction privacy levels of the Digital Real
•Pilot tests to be conducted later this year
•Tests will focus on determining levels of privacy and security with proposed CBDC infrastructure

Central Bank of Brazil to Test Security and Transaction Privacy Levels of the Digital Real

The Central Bank of Brazil will be conducting a series of tests later this year to determine the levels of privacy and security that can be achieved with its proposed central bank digital currency (CBDC) infrastructure. The institution announced that it would be running a simplified operation in order to transact with a still-to-be-determined tokenized asset. Fabio Araujo, the coordinator for the digital real project at the Central Bank of Brazil, explained that these tests are focused on examining if the transaction information leakage derived from the system is compatible with current regulatory requirements.

Test Details

The tests described by Araujo will start after the current laboratory phase of the digital real, which is part of an open project called LIFT challenge, involving various organizations. After delivering their final project reports on April 25th, institutions and banks participating in this challenge will then participate in a pilot test which will feature an introduction to another unselected tokenized asset for transactions. This expanded test environment will be opened up for institutions and banks in 2024.

Objectives Behind Tests

The objective behind these pilot tests is to check both security and privacy levels within this proposed architecture. It will also allow third parties such as banks, who can issue their own tokens backed by the digital real, to interact with this system more effectively.

LIFT Challenge Participation

The LIFT challenge has attracted nine different proposals aiming to include the digital real as part of economic endeavors. Institutions taking part in this challenge must deliver their final project reports by April 25th before they can proceed with these pilot tests thereafter.

Digital Real Launch Date

While there is still no confirmed launch date for when these pilot tests will begin or when exactly it could become available for public use, it is expected that it should happen sometime during 2024 following further testing being completed successfully throughout 2021.

• Advisors to the Kremlin have suggested that home crypto mining should be banned in Russia, or in some of its regions.
• The Energy Committee of the State Council, an advisory body to the Russian president, has recommended imposing a ban on the minting of digital currencies in residential areas.
• The crypto-related activity, which is a source of additional income for many ordinary Russians, especially in places with access to cheap electricity, is not regulated yet.

The Russian government is proposing a ban on crypto mining in residential areas, citing safety concerns with high electrical loads and fire hazards. The Energy Committee of the State Council, an advisory body to the Russian president, has recommended that a ban be imposed on the minting of digital currencies in residential areas, with the aim of reducing fire risks in apartment blocks and houses.

The suggestion follows a meeting of the committee held in mid-December, and if enacted, it would mean a complete prohibition of cryptocurrency mining activities in those regions. Among the areas that could potentially be affected by the ban are Moscow and the Moscow Oblast. The decision is not yet finalized, but it is being heavily considered as a way to protect residential areas from the dangers of unregulated crypto mining.

The idea of a ban has been met with some opposition, as digital currency mining has become a source of additional income for many ordinary Russians, particularly in places with cheap electricity. Anton Tkachev, a member of the State Duma Committee on Information Policy, Information Technologies and Communications, believes the push to ban mining in residential areas and energy-deficient regions is a logical move, as industrial mining farms already consume critical amounts of energy. He also echoes the committee’s sentiments, stating that the ban might be necessary to protect both the environment and people’s safety.

The proposed ban is also in line with a bill currently under review in the State Duma which seeks to regulate crypto-related activities. The bill seeks to introduce appropriate taxation for those engaging in digital currency mining, and under the new regulations, regional authorities would be granted powers to impose additional taxes on cryptocurrency mining.

The proposed ban is yet another step in the Russian government’s efforts to regulate the cryptocurrency sector. While the proposed ban is yet to be finalized, it is a clear indicator of the government’s stance on digital currency mining and its potential dangers. As such, it is important for crypto miners to stay informed on the latest developments and understand the potential implications of the proposed ban.

• On Jan. 21, 2023, the price of bitcoin reached a 24-hour high of $23,333 per unit, pushing the entire crypto-economy to a total valuation of $1.05 trillion.
• Bitcoin’s dominance level has climbed to 42.4% of the crypto-economy, surpassing the 40% region among thousands of crypto assets.
• Major crypto assets such as ethereum, tether, and binance coin also have significant market dominance.

On Saturday, January 21st, 2023, the price of bitcoin set a 24-hour high of $23,333 per unit, pushing the entire crypto-economy to a total valuation of $1.05 trillion. This 7.2% increase against the U.S. dollar was driven by the impressive surge in the price of bitcoin, which has led to its dominance level surpassing the 40% region among the thousands of crypto assets available today.

Coinmarketcap.com (CMC) data shows that bitcoin’s dominance level on January 21st is around 42.4%. This is 37.2% higher than it was 30 days ago and indicates that the leading crypto asset has firmly established itself as the dominant player in the crypto-economy. Bitcoin’s dominance is calculated by dividing its market capitalization by the total market valuation of the crypto-economy. In the past, from 2009 to 2017, BTC’s dominance level held above the 80% range. However, it has since dropped below this level and has not returned.

The second-leading crypto asset, ethereum (ETH), has a dominance level of around 18.4% according to CMC data, and 19.3% according to coingecko.com (CG) metrics. Tether (USDT) commands 6.33% market dominance, while binance coin (BNB) has a dominance level of around 4.57%. The stablecoin USDC has a market dominance of 2.19%.

It is clear that bitcoin is currently the dominant player in the crypto-economy, with its market capitalization accounting for more than 40% of the total market valuation. This indicates that many investors are still confident in the long-term prospects of the crypto asset and are willing to invest in it despite its volatility. As the crypto-economy continues to grow, investors will continue to monitor the developments of the other major crypto assets and their respective dominance levels.

• Tascombank, one of the oldest banking institutions in Ukraine, has completed the pilot testing of a digital currency based on the Stellar network.
• The bank believes that its electronic money platform represents an economically viable implementation of blockchain technology.
• Operations with the new digital asset were carried out in accordance with the current know-your-customer and anti-money laundering procedures.

Ukraine’s Tascombank, one of the oldest banking institutions in the country, has recently completed a pilot testing of a digital currency based on the Stellar network. The project, which was launched to create a currency with the Stellar network, saw the coin used in settlements between buyers and sellers.

The bank believes that the electronic money platform that they have created represents an economically viable implementation of blockchain technology, as it has a number of advantages including transparency at all stages of circulation and between all participants in the transactions, increased security and confidentiality for user data, low costs, and high capacity.

The operations with the new digital asset that were conducted during the testing phase were done in accordance with the current know-your-customer and anti-money laundering procedures, which has been put in place to ensure that the transactions are secure. The bank was pleased with the results of the pilot project, saying that it was successful and promising in terms of further product development and implementation.

Tascombank also revealed that it plans to continue its studies on the issuance and circulation of blockchain-based electronic money. One of the areas its future research is going to cover will be the possible use of such currency in retail non-cash payments. The bank is also in communication with the National Bank of Ukraine (NBU) to discuss the potential of the project.

With the successful completion of the testing phase, Tascombank will be able to move forward with its plans to create a digital currency based on the Stellar network. This could potentially revolutionize the banking industry in Ukraine, as it would open up the possibility of faster, cheaper, and more secure transactions.