Overview
USDT issuer, Tether, recently announced their partnership with the TON Foundation during the Token 2049 event in Dubai, where $60 million worth of USDT was issued on the blockchain. Additionally, the company has launched the gold-pegged Tether Gold (XAUT) stablecoin on TON.
The Open Network team highlighted that cross-border payments are now instant, free, and as easy as sending a text message to Telegram's 900 million users.
Bitcoin Price Analysis
The Bitcoin (BTC) chart indicates a strong support level at $62,000 - $62,500. The price corrects below this level on Wednesday, 17 April 2024 with closing price $61,277. In anticipation of the halving, there was significant buying pressure, causing the price to bounce back at the $62,000 level. The halving occurred on Saturday morning (20/04). However, the BTC price increase wasn't very strong; on Sunday (21/04), the BTC price still couldn't break through its minor resistance at $65,600.
The U.S. Dollar Index (DXY) has experienced a notable surge, currently at 106. The rise in the DXY has led to increased volatility in the cryptocurrency market. Bitcoin, Ethereum, and other major cryptocurrencies have seen a slight dip in prices as investors react to the strengthening dollar.
Ethereum Price Analysis
Last week, April 12, 2024, Ethereum (ETH) finally broke out of the ascending triangle pattern, indicating a failed uptrend and a shift to a bearish phase, likely correcting to the next support level at $2,900. After rebounding successfully from this support level on April 13, 2024, as of today (15/04), ETH is showing resistance at this support level and is moving upward toward the $3,300 level.
However, the price movement of ETH did not continue its upward trend towards the $3,300 level and instead dropped back. On Friday (19/04), the price of ETH corrected back to the $2,900 level. And the rise continued in preparation for the halving, ETH's price moved up on Saturday, April 20, closing at $3,157.
Solana Price Analysis
Last week (12/04), there was finally a correction in Solana by 11.14% in a day to reach the $130 level, briefly touching its lowest price at $116 before quickly bouncing back to reach $150 on the next day, April 15, 2024. However, Solana was unable to continue its upward trend, so on the following day (16/04), the price of Solana corrected again until Friday (19/04). As the halving approached on April 20, the price of Solana managed to close at $151.22.
Disclaimer
This material is for general information and is not investment advice, a recommendation, or solicitation to buy and sell any cryptocurrencies, digital assets, securities or derivative instruments, or to make any investments. Mobee is under no obligation to update this report based on information and events that occurred after this report was created and published. Any suggestions or recommendations in this report may not be appropriate for certain users.
