Crypto Daily - Daily Crypto And Financial News 01/08/2022, Is PayPal's Crypto Project In Danger?

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Crypto Daily™
19w ago2022-08-01

In Todays Headline TV CryptoDaily News:

PayPal's crypto project could be in danger.

If activist hedge fund Elliott Management has its say, PayPal's crypto offering could be facing its last days. According to the Wall Street Journal, the hedge fund recently took a stake in the beleaguered payments behemoth. The amount of the stake and what Elliott paid were not disclosed.

Shaking up the crypto community.

The Securities and Exchange Commission has shaken up the crypto community with yet another bombshell. The SEC filed insider trading charges against an ex-product manager at Coinbase and his two relatives.

How safe is it?

The Federal Deposit Insurance Corporation said it is concerned consumers may be confused about how safe their money may be when placed in crypto assets, particularly in cases where firms offer a mix of uninsured crypto products alongside insured bank deposit products.

BTC/USD exploded 1.8% in the last session.

The Bitcoin-Dollar pair exploded 1.8% in the last session. The Ultimate Oscillator is giving a positive signal, which matches our overall technical analysis. Support is at 22812.3333 and resistance at 25054.3333.

The Ultimate Oscillator is currently in the positive zone.

ETH/USD skyrocketed 2.7% in the last session.

The Ethereum-Dollar pair gained 2.7% in the last session after rising as much as 3.3% during the session. The Stochastic-RSI indicates an overbought market. Support is at 1636.9633 and resistance at 1770.6233.

The Stochastic-RSI is signaling an overbought market.

XRP/USD exploded 2.4% in the last session.

The Ripple-Dollar pair skyrocketed 2.4% in the last session. The MACD is giving a positive signal. Support is at 0.3402 and resistance at 0.4337.

The MACD is currently in positive territory.

LTC/USD exploded 3.7% in the last session.

The Litecoin-Dollar pair rose 3.7% in the last session after gaining as much as 4.1% during the session. The RSI is giving a positive signal. Support is at 57.4067 and resistance at 65.5467.

The RSI is currently in the positive zone.

Daily Economic Calendar:

US ISM Manufacturing PMI

The ISM Manufacturing PMI shows the business conditions in the manufacturing sector. It is a significant indicator of the overall economic conditions. The US ISM Manufacturing PMI will be released at 14:00 GMT, the US ISM Manufacturing Employment Index at 14:00 GMT, and Germany's Retail Sales at 06:00 GMT.

US ISM Manufacturing Employment Index

The ISM Manufacturing Employment Index estimates the labour market in the manufacturing sector, taking into account expectations for future production, new orders, inventories, employment, and deliveries.

DE Retail Sales

Retail Sales measure the total receipts of retail stores. Monthly percent changes reflect the rate of change of such sales.

NL Markit Manufacturing PMI

The Manufacturing Purchasing Managers Index (PMI) captures the business conditions in the manufacturing sector. The Dutch Markit Manufacturing PMI will be released at 07:00 GMT, Japan's Jibun Bank Manufacturing PMI at 00:30 GMT, and Japan's Monetary Base at 23:50 GMT.

JP Jibun Bank Manufacturing PMI

The Jibun Bank Manufacturing PMI gives an early snapshot of the health of the Japanese manufacturing sector.

JP Monetary Base

The Monetary Base is the currency the central bank supplies, encompassing notes and coins and money held in bank accounts.

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.