Crypto Daily Roundup: Is Bitcoin Price Forming Bottom?

The Top Five Crypto Losers In The Past 24 Hours

TOP 5 Crypto Losers

Crypto News Key Highlights:

House Republicans are pushing to ban U.S. Central Bank Digital Currencies (CBDCs) even before the Federal Reserve formally proposes them. Meanwhile, Democratic Representative Stephen Lynch has introduced a bill for a digital dollar pilot. This clash in the House of Representatives reflects the debate over the future of CBDCs in the U.S., with some aiming to block them while others advocate for their development to maintain U.S. leadership in digital currency regulation.

Bitcoin BSC (BTCBSC) has raised over $1.7 million in its presale, surpassing 50% of its soft cap goal. The project aims to merge Bitcoin branding with high-yield staking on the Binance Smart Chain, offering staking rewards of up to 320% annually. BTCBSC's audit and endorsement from influencers like Jacob Bury have contributed to its buzz in the crypto community. It sets itself apart from other "Bitcoin clones'' by combining strong branding with a comprehensive roadmap, though its success hinges on effective execution and community engagement.

Bitcoin has experienced a rare death cross, with its 50-day moving average crossing below the 200-day moving average, last seen in January 2022 when BTC's price dropped over 60%. However, analysts note that death crosses don't always lead to immediate declines, and the current price above $26,300 may indicate market demand to counter the bearish signal.

North Korean hackers have stolen $340.4 million in cryptocurrency in 2023, down 80% from 2022. However, this drop doesn't necessarily signal improved security. North Korea's Lazarus Group remains a significant threat, responsible for 30% of crypto thefts this year. To combat these attacks, cryptocurrency firms should train employees to counter social engineering tactics. North Korean hackers are increasingly using Russian exchanges to launder funds, and the United Nations is working to curb their cybercrime activities. Increased smart contract audits aim to make it harder for hackers.

Mark Zuckerberg's Meta is expanding its Horizon Worlds metaverse to smartphones and computers, beginning with the release of Super Rumble, a free-for-all shooter game. The metaverse aims for inclusivity across devices, with iOS access coming soon. Meta's social platform is available in select countries, and the addition of virtual legs to avatars is a notable update.

Sui Network introduces zkLogin, allowing users to access decentralized apps (dApps) with familiar Google, Facebook, and Twitch logins, eliminating the need for external crypto wallets. The move aims to simplify blockchain adoption and expand Web3 user base. Future integrations with Microsoft, Apple, WeChat, and Amazon are planned.

Ramp Network, a crypto payment infrastructure startup, has added the Brazilian Central Bank's Pix system as a payment option. Pix, widely used in Brazil, offers a fast and convenient way for Ramp to serve Brazilian users in the growing South American crypto market.

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