Bitcoin News and Finance: What You Need to Know

According to Bank of America analysts, the Nigerian currency is currently undervalued and will likely end the year trading at around NGN680 per dollar. The analysts assert that higher oil revenues and a liberalized import regime will likely see Nigeria record current account surpluses in the medium term. Freely Floating Naira Just under a month after Nigerian monetary authorities abandoned the fixed exchange rate regime, analysts at Bank of America recently now argue that the local currency — the naira — is presently undervalued. However, according to analysts, the naira, which is hovering above NGN700 per US dollar, will likely end the year trading at around NGN680 per U.S. dollar. The latest forecast by Bank of America analysts came more than nine months after an economist with the financial institution predicted a 20% devaluation of the naira which would translate to an exchange rate of NGN520:USD1. However, as reported by Bitcoin.com News in mid-June, the Central Bank of Ni...

After the four firms that filed for spot bitcoin exchange-traded funds (ETFs) resubmitted their applications with the U.S. Securities and Exchange Commission (SEC), the asset manager Blackrock followed suit with an amended application. Similar to Cboe’s refiling of registrations from Fidelity, Vaneck, Invesco, and Wisdomtree, Nasdaq amended the Blackrock spot bitcoin ETF filing, by incorporating Coinbase as a surveillance-sharing agreement (SSA) partner. Nasdaq Amends Blackrock Spot Bitcoin ETF Application Alongside Industry Competitors Last week, a report from The Wall Street Journal revealed that individuals with knowledge of the situation said the Securities and Exchange Commission (SEC) expressed dissatisfaction with the numerous spot bitcoin ETF filings submitted in the past two weeks. The leading U.S. options exchange, Cboe, informed the WSJ that it intended to revise its filings. Subsequently, Cboe updated the spot bitcoin ETF filings for Wisdomtree, Vaneck, Invesco, and F...

During the past fortnight, the crypto asset litecoin ( LTC ) has surged over 40% against the U.S. dollar after the crypto exchange EDX announced the listing of LTC alongside three other prominent digital currencies. Additionally, Litecoin is on the verge of a reward halving, with only 30 days remaining until its block reward subsidy decreases from 12.5 LTC to 6.25 LTC . Litecoin Climbs Over 40% in 2 Weeks — Network Hashrate Taps an All-Time High Thirteen days ago, the crypto exchange EDX, with backing from Charles Schwab, Citadel Securities, and Fidelity Digital Assets, revealed its plans to list four different cryptocurrencies: BTC , ETH , BCH , and LTC . Since the exchange’s launch, both BCH and LTC have experienced significant price increases over the past fortnight, outshining many other digital assets. In the span of 30 days, LTC has risen by 13.7%, and in the last two weeks alone, it has surged over 40% against the U.S. dollar. Year-to-date, LTC has gained 119.7%, prope...

Ethereum moved closer to $2,000 on Monday, as markets prepared for a short, but busy week of U.S. economic data. This is due to the fourth of July Independence Day celebrations, which will see some markets in the United States closed. Once reopened, the FOMC minutes, and non-farm payrolls report will be some of the key fundamentals released. Bitcoin largely consolidated today. Bitcoin Bitcoin ( BTC ) was once again in consolidation, as the world’s largest cryptocurrency remained below a key resistance level for a third straight day. BTC /USD moved to a peak at $30,789.11 earlier in the day, less than 24-hours after nearing a drop below $30,000. Despite the marginal gain, BTC remained below a key level of resistance at the $30,800 for the third straight session. Bitcoin chart by TradingView One of the reasons for this was due to the 14-day relative strength index (RSI) hovering below a ceiling of its own at 69.00. The index is now tracking at 66.64, which is near a point whe...

PRESS RELEASE. LBank, the world-leading cryptocurrency exchange, is soon to launch the world’s first unlimited cryptocurrency credit card, aiming to break down the barriers of cryptocurrency payments. The card, available in both virtual and physical forms, allows users to make any consumer payments directly with cryptocurrency through LBank’s credit, and also supports local cash withdrawals. LBank’s nearly 9 million users are expected to begin using this card in Q3 2023, and the exchange’s VIP users will be granted the exclusive right to early access. The credit card will connect to LBank users’ digital assets and can be used on various payment platforms like Google Pay. Upon acquiring the card, the app allows detailed viewing of each recharge and consumption record, enabling users to stay on top of their financial status at all times. By using this card, LBank users can consume their assets within the exchange or withdraw assets in the form of fiat currency. The card does not have...

On Friday, June 30, Okx announced an expansion of its existing partnership with recent Champions League winners, Manchester City Football Club. The partnership entails Okx, which previously sponsored the club’s training kit, becoming the sleeve sponsor for both the men’s and women’s teams. Haider Rafique, the company’s CMO, expressed hopes that the deal will enhance visibility and generate interest in the broader blockchain industry. In recent years, a host of crypto companies have partnered with sports brands on similar ventures. Notable mentions include Crypto.com teaming up with the Ultimate Fighting Championship (UFC), and also Binance who partnered with football teams like FC Shakhtar, Lazio from Italy, and Porto from Portugal. What Will Okx Get From the Partnership? For Okx, chief marketing officer Hiader Rafique hopes that the deal will help rally the company’s workforce, as well as the wider blockchain community. Speaking on Friday at the launch event, Rafique stated tha...