🗞 Daily Crypto News, March, 28th💰

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Welcome to the Daily Crypto News: A complete News Review, Coin Calendar and Analysis. Enjoy!

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🗞 Bitcoin HODLers are not selling: Inactive BTC supply hits 3-month low

Long-time Bitcoin (BTC) HODLers are refraining from selling their holdings, on-chain data from Glassnode shows.

According to Glassnode’s "BTC Percent Supply Last Active 2+ Years" indicator, Bitcoin that was last moved well over two years ago reached a three-month low to 45.364%.

This trend indicates that Bitcoin HODLers who bought around the top of the last bull cycle in 2018 and before are showing deeper conviction as BTC consolidates above $55,000. Interestingly, the spike during December 2020 suggests that many may have sold at a breakeven of around $20,000, or the previous all-time high in late 2017.

Why is Bitcoin consolidating with low volatility bullish?

Bitcoin typically tops or sees a severe correction when long-time holders begin to sell rapidly.

Atop this, as CryptoQuant CEO Ki Young Ju explained, miners are holding a lot of Bitcoin that they have not sold in recent months. In fact, the amount of BTC moved by miners was significantly less compared to previous pullbacks this year. This may suggest that miners are likely expecting higher prices down the road.

Is the BTC bottom in?

Well-known pseudonymous traders, including "Rekt Capital," have said that in the next couple days, there could be sufficient confirmation that a Bitcoin bottom could form.

🗞 Indian Gov: Companies Must Disclose Crypto Holdings

  • Companies incorporated in India are required by law to disclose crypto holdings, as of April 1.
  • Indian crypto industry representatives told Decrypt the news is positive but has no bearing on the tabled motion for an outright crypto ban.

While the Indian government mulls a ban on crypto, it’s tightening the screws on existing regulation. The Indian Ministry of Corporate Affairs said on Wednesday that all companies incorporated in India must disclose crypto holdings and dealings, effective April 1.

Implications of the ban

In addition to crypto holdings, the new rules, which update the country’s Companies Act of 2013, require companies to disclose the total profit or loss on crypto transactions, as well as any deposits or advances received for crypto trading.

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All Quiet on the Ban Front

The issue that looms large remains the prospect of a potential ban on crypto. In late January, the Indian Parliament tabled the “The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021.”

🗞 New York Launches a Blockchain-Powered COVID-19 Passport

  • The State of New York has introduced a blockchain-powered COVID-19 passport.
  • It’s available for free of use by businesses, and the implementation will be voluntary.

New York Governor Andrew Cuomo announced last Wednesday the launch of Excelsior Pass, a blockchain-powered COVID-19 passport, for use across the state starting Friday, April 2.

"New Yorkers have proven they can follow public health guidance to beat back COVID,” Governor Cuomo said in an official statement, “and the innovative Excelsior Pass is another tool in our new toolbox to fight the virus while allowing more sectors of the economy to reopen safely and keeping personal information secure.”

🗞 Survey Shows 77% of Americans Are Concerned About Rising Inflation, Prices for Goods Are Soaring

Since well before the Covid-19 outbreak was found in America, the U.S. Federal Reserve invoked a number of monetary easing policies. Then throughout 2020, the central bank created a quarter of all the USD ever issued in less than 12 months to help the economy during the outbreak. Despite Fed Chair Jerome Powell and other central bankers showing little concern for inflation, a recent survey shows that 77% of Americans are worried about surging inflation in the months to come.

Survey Shows Younger Generations Are Worried About Inflation Hurting Their Purchasing Power

During the first week of March, Federal Reserve Chair Jerome Powell did an interview at the Wall Street Journal Jobs Summit and he explained he wasn’t worried about inflation. Further, other members of the central bank have shown little worry about rising inflation as well, even though the Fed created massive amounts of USD last year and into 2021.

“Naturally, people who have had their hours or pay reduced as a result of the pandemic are the most sensitive to the idea of inflation and what it means for the general cost of living. If it’s difficult to make ends meet now, imagine how difficult it could be once inflation sinks in,” the Civicscience authors explain.

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Economists Agree With the Fears, Prices of Goods Show Soaring Inflation Levels Have Begun, Online Queries Show the Term Inflation Is Trending in the US

🗞 Daily Crypto Calendar, March, 28th💰

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  • Chiliz (CHZ)

"Atomars exchange will list CHILIZ (CHZ) on March 28, 2021. "

  • SmartKey (SKEY)

"Time for Next AMA Follow @amaloversclub and @SmartKeyDeFi... Time : 17:00 UTC"

  • Epic Cash (EPIC)

"On March 28th 2021, ECR tokens will distributed to those who have made their claim."

  • IxiCash (IXI)

"New roadmap (Phase 2) for Project #Ixian will be published on Sunday, March 28!"

  • Nuls (NULS)

Release of NULS built "MetaMask-Like" wallet, capable of bridging NULS, ETH, BSC and Heco Chains.

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