South Korean Exchange Contagion, Crypto Daily TV 16/6/2023

In Todays Headline TV CryptoDaily News:

MakerDAO hikes DAI savings rate

DeFi platform and stablecoin issuer MakerDAO has approved a hike in the reward to investors for holding its $4.5 billion DAI stablecoin to 3.49% from 1%, providing additional incentive for investors to hold and lend DAI instead of rivals like popular stablecoins such as USDC and USDT.

Two more crypto platforms halt withdrawals

Two South Korea-linked crypto platforms halted withdrawals in the space of 24 hours, a reminder of the ongoing risks in the digital-asset sector following a spate of blowups sparked by a market rout last year. They said the temporary suspension took effect and blamed “market volatility and increased confusion”.

Ripple partners with Colombia’s central bank to explore blockchain technology

Despite an ongoing legal battle with the Securities and Exchange Commission, Ripple is partnering with the central bank of Colombia to roll out yet another blockchain/CBDC pilot. The XRP ledger CBDC platform also serves as the basis for similar pilot projects in Hong Kong, Bhutan, Palau and Montenegro.

BTC/USD skyrocketed 1.9% in the last session.

The Bitcoin-Dollar pair exploded 1.9% in the last session. The CCI indicates an oversold market. Support is at 24110.6667 and resistance at 26630.6667.

The CCI points to an oversold market.

ETH/USD exploded 1.5% in the last session.

The Ethereum-Dollar pair skyrocketed 1.5% in the last session. The ROC is giving a positive signal. Support is at 1565.7733 and resistance at 1792.4533.

The ROC is currently in positive territory.

XRP/USD gained 0.5% in the last session.

The Ripple-Dollar pair rose 0.5% in the last session after gaining as much as 1.1% during the session. The Stochastic indicator is giving a negative signal. Support is at 0.4283 and resistance at 0.5461.

The Stochastic indicator is currently in negative territory.

LTC/USD skyrocketed 2.5% in the last session.

The Litecoin-Dollar pair skyrocketed 2.5% in the last session. The Stochastic-RSI indicates an oversold market. Support is at 67.6833 and resistance at 80.8633.

The Stochastic-RSI is signalling an oversold market.

Daily Economic Calendar:

UK Consumer Inflation Expectations

The Consumer Inflation Expectation presents the consumer expectations of future inflation for the next 12 months, which may influence rate decisions. The UK’s Consumer Inflation Expectations will be released at 08:30 GMT, the Eurozone’s Harmonized Index of Consumer Prices at 09:00 GMT, the UK’s CFTC GBP NC Net Positions at 20:30 GMT.

EMU Harmonized Index of Consumer Prices

The HICP is a measure of price movements or inflation harmonized across EU Member States. It is similar to the national Consumer Price Indices (CPI).

UK CFTC GBP NC Net Positions

The weekly Commitments of Traders (COT) report provides information on the size and the direction of the positions taken. The report focuses on speculative positions.

US Baker Hughes US Oil Rig Count

The Baker Hughes Rig Count is an important business barometer for the drilling industry and its suppliers. Active drilling rigs consume products and services produced by the oil service industry. The US Baker Hughes US Oil Rig Count will be released at 17:00 GMT, Japan’s BoJ Interest Rate Decision at 03:00 GMT, the Eurozone’s EcoFin Meeting at 07:00 GMT.

JP BoJ Interest Rate Decision

The BoJ Interest Rate Decision is announced by the Bank of Japan. The interest rates are a key mechanism through which the central bank influences inflation.

EMU EcoFin Meeting

The Economic and Financial Affairs Council, the main decision-making body of the Council of the European Union, is composed by the Finance Ministers of the 27 European Union member states.

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.