Timely, comprehensive, professional and accurate information and data to understand the latest information about blockchain, cryptocurrency and Bitcoin

FAMEEX Daily Highlights | Morocco finalized crypto regulatory framework

2023-01-04 18:17:35

Top Trending Crypto News Today

Adoption of Cryptocurrencies in 2022 - What Developments Spurred Growth?
It's no secret that for the whole year 2022, the cryptocurrency market was under negative pressure. Nevertheless, despite all the turbulence and confusion, a number of encouraging news items have surfaced, particularly those pertaining to the widespread use of digital assets and generally crypto-related technology.

Final Fantasy Maker Square Enix Reaffirms Focus on Blockchain Games
Square Enix, the creator of major franchises like Final Fantasy and Dragon Quest has gradually increased its investment and presence in the Web3 space over the last few years, and in President Yosuke Matsuda’s annual new year’s letter for 2023, he explained that Square Enix is “most focused” on blockchain-powered gaming amid its new business development efforts.

Morocco finalized crypto regulatory framework: Central Bank
Morocco may see its first crypto bill introduced “in the following days.” The document is already written by the Central Bank and will be discussed with the industry stakeholders. In 2022, Morocco became the fastest-growing crypto market in Northern Africa, going from 2.4% of the population owing digital assets in 2021 to 3.1% a year later.

Daily Crypto Market Analysis - Growing and Forecast

In the last 24 hours, the long liquidations were 11.74M USDT and the short liquidations were 16.13M USDT, leaving 4.39M USDT worth of net short liquidations. The liquidation dropped significantly to last year’s extremely low level. Investors didn’t show much interest in making new moves.

The Fear & Greed index fell slightly to 26, still below 30. The number has been around 25 most of the time in the last 4 months, but the number has been near 28 in the last 30 days, showing that the investors’ confidence is yet to be recovered. But on the other hand, the market has been relatively stable, instead of slipping further.

Bitcoin Ahr999 stayed at 0.32, below the bottom line 0.45 and the DCA line 1.2. The numbers reflected that the bear market would last for a long time. Judging from the information above, the prices were still at the bottom zone.

In the last trading day, the tendency continued, the 3 major US stock indexes fell a little. DJI was down by 0.03%. S&P 500 was down by 0.41%. And the NASDAQ was the weakest, down by 0.76%. The two main cryptos, BTC and ETH, were up by 0.17% and 0.96%.

According to the latest statistics, 2022 saw a depressing global manufacture. S&P Global revealed on Tuesday that US manufacture PMI of last December was 46.2, the lowest record since May, 2020. The PMI of the Eurozone was 47.8, a sign showing the economy was yet to be recovered. Caixin published on Wednesday that China’s PMI of last December was down to 49.0, the lowest of the last 3 months. The number had been shrinking for 5 months consecutively.

In terms of politics and economy, Alan Greenspan, the former chair of the Federal Reserve of the United States, pointed out that a possible result of the continuous rise of the interest rate by the FOMC could be economic recession in the US. Salary and employment growth should be further slowed, and the inflation would continue to fall.

William Dudley, the former president of the Federal Reserve Bank of New York, also said on Tuesday that an economic recession in America was possible, but the economy would not be slowed severely. Kristalina Georgieva, managing director of the International Monetary Fund, warned recently that this year’s global economy would be tougher, and she estimated that a third of the global area would be affected by recession.

Yesterday, the prices of mainstream cryptos changed from -0.28% to 24.57%. The DOGE was the weakest, down by 0.28%. SOL continued its tendency yesterday, up significantly by 24.57%. The BTC and ETH were up by 0.17% and 0.96% separately.

Judging from the 4-hour timeline, the BTC has been in correction near 16700 in the last 2 days. The moving averages have been tangled together without a clear sign of the future.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FAMEEX's official view.

Other articles
Copyright © 2022-2023 FAMEEX.COM All Rights Reserved
FameEX APPMobile trading, anytime, anywhere