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USDC Outflows Exceed $10B, Crypto Daily TV 31/3/2023

USDC Outflows Exceed $10B, TV 31/3/2023

In Todays Headline TV CryptoDaily News:

Visa and Fold expand partnership to new regions.

Bitcoin rewards app Fold and Visa have expanded their ongoing partnership. The U.S. payments giant will now serve as the exclusive network partner for Fold’s prepaid debit and credit products in North America, Europe and Latin America.

USDC outflows surpass $10 billion since March 10th.

Crypto investors are fleeing Circle’s USDC stablecoin, with many of them switching to Tether, which has reached a 22-month high in market share. USDC token net outflows have surpassed $10 billion since March 10, when regulators shuttered key reserve banking partner Silicon Valley Bank.

Bitcoin spikes above $29K.

Bitcoin set new nine-month highs as traders continued to stay cautious. Prices spiked to above $29000.

BTC/USD dropped 0.7% in the last session.

The last session saw the Bitcoin drop 0.7% against the Dollar. The Williams indicator is giving a negative signal. Support is at 26688.6667 and resistance at 29472.6667.

The Williams indicator is currently in the negative zone.

ETH/USD remained largely unchanged in the last session.

The Ethereum-Dollar pair traded sideways in the last session. The MACD is giving a negative signal. Support is at 1744.7967 and resistance at 1849.1967.

The MACD is currently in the negative zone.

XRP/USD dove 1.3% in the last session.

The Ripple-Dollar pair dove 1.3% in the last session. According to the RSI, we are in an overbought market. Support is at 0.4785 and resistance at 0.6147.

The RSI points to an overbought market.

LTC/USD plummeted 2.2% in the last session.

The Litecoin-Dollar pair dove 2.2% in the last session. The MACD is giving a positive signal. Support is at 87.1067 and resistance at 95.0467.

The MACD is currently in the positive zone.

Daily Economic Calendar:

US Personal Spending

The Personal Spending measures purchases of goods and services by households and by nonprofit institutions that serve households from the private sector.  The US Personal Spending will be released at 12:30 GMT, Germany’s Unemployment Change at 07:55 GMT, the UK’s Current Account at 06:00 GMT.

DE Unemployment Change

The Unemployment Change is a measure of the absolute change in the number of unemployed people using seasonally adjusted data. A rise in this indicator has negative implications for consumer spending.

UK Current Account

The Current Account measures net flow of current transactions, including goods, services and interest payments into and out of the local economy. 

UK Gross Domestic Product

The Gross Domestic Product is a measure of the total value of all goods and services produced by a country. The GDP is considered as a broad measure of economic activity and health. The UK’s Gross Domestic Product will be released at 06:00 GMT, the US Personal Income at 12:30 GMT, Japan’s Annualized Housing Starts at 05:00 GMT.

US Personal Income

The Personal Income measures the total income received by individuals, from all sources including wages and salaries, interest, dividends, rent, workers’ compensation, proprietors’ earnings, and transfer payments.

JP Annualized Housing Starts

The Annualized Housing Starts captures how many new single-family homes or buildings were constructed on an annualized basis. It is a key indicator of the housing market.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.