OSL Daily Update - March 30, 2021
$BTC 24 Hour High $58,400
$BTC 24 Hour Low $54,900
$BTC +3.75% in past 24 hours
Last week, Ray Dalio mentioned that there was a good probability that the US government would outlaw $BTC, stating that it could possibly siphon money from other investments, which would upset the US. Today, Tyler Winklevoss succinctly tweeted that Bitcoin regulation inquiries and obstacles have been answered for more than a decade, and that the “ship has sailed”. It’s a big discrepancy from both leaders and begs the questions whether Dalio will end up spinning like our Norwegian billionaire friend in yesterday’s note.
In other news, Fidelity will now offer $BTC collateralized loans, partnering with Silvergate to facilitate this process, utilizing their SEN leverage product. Payment services giant, Visa, is getting into crypto, and will begin settlements with USDC later this year.
Overnight, OSL parent company BC Technology Group just announced its full year results for 2020 buoyed by the success we’ve blazed in our digital asset business.
Digital assets market:
- $BTC down 0.30% on the day, support/resistance - $56,200/$58,350
- $BTC liquidations and funding: $380M, 0.07% average
- $ETH down 0.41% on the day, support/resistance - $1,760/$1,840
- $ETH liquidations and funding: $69M, 0.09% average
Alts and DeFi watch:
- DeFi TVL: $42.57B
- Charles Hoskinson outlines roadmap to write and launch smart contracts on Cardano
- $RUNE is in the process of setting a new all-time high, currently breaking its previous $6.8 peak
More news that caught our eye:
- National People’s Congress of China published their 5-year plan, including for the first time ever explicit highlights around blockchain and digital currency
- Stablecoin reserves passes $10 billion in exchanges
In some more good news for OSL and our listed parent company BC Technology Group announced its full year results for 2020 buoyed by our digital asset business success. Thank you to all of you for your support this past year. We look forward to continuing to be your preferred venue for crypto trading and sharing more great news in the coming weeks.
OSL Trader View is contributed by Santiago Nazaretti and Jose Reyes
OSL is Asia’s most comprehensive digital asset platform providing brokerage, exchange, software-as-a-service and insured custody solutions to professional investors.
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