The Daily Edge | 8.14.23

Matt Brienen
December 13, 2022
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  1. Coinbase Launches in Canada: Coinbase has officially entered the Canadian market, integrating interact payment systems with top banks and payment partners, offering 130 days of free trials, enhanced staking rewards, and priority support for Canadian users.
  2. Reserve Bank of New Zealand Collaborates with Ripple: The Reserve Bank of New Zealand is working with Ripple on central bank digital currencies (CBDCs), using the XRP Ledger. This reflects New Zealand's commitment to digital innovation and modernizing its financial infrastructure.
  3. Misleading Headlines about Ripple Partnerships: The team warns readers to be cautious about misleading headlines, citing an example where Amazon was said to partner with Ripple, though it was actually working with a smaller company that used Ripple's products.
  4. HBAR's Pop and Market Conditions: Matt also mentions a 15% increase in HBAR and contemplates market conditions and potential reactions to legal outcomes, emphasizing that fundamental pops can be affected by the overall market sentiment.
  5. Casper Network and IP: A significant event related to 1 billion patents on the Casper network is highlighted, and the author recommends a podcast covering it.
  6. Legal Support for Coinbase: Matt reports on legal briefs supporting Coinbase in its struggles with regulatory agencies, and offers an in-depth explanation of how investment contracts do not apply to many crypto assets.
  7. Michael Berry's Investments: Noted investor Michael Berry is loading up on bearish bets against the U.S. equity markets while going long on Japan and some non-U.S. companies like Alibaba.

  1. Stock Indices: Dow Jones closed up 26 points, near a 76-year record. S&P 500 closed up 0.5%, and the Nasdaq was up 1.2%, the biggest winner among the indices.
  2. Dollar Index: The dollar index was up by 0.29%, approaching a critical level at 76. Trends suggest a downward movement with potential correction.
  3. Bitcoin: Bitcoin's dominance dropped 1.5%, an unusual change considering it's not a tradable asset. Bitcoin's price remained fairly steady, and its relationship with the 50-day moving average has been seen as a sign of potential accumulation.
  4. Other Cryptocurrencies: Several altcoins are challenging their 50-day moving averages repeatedly. Assets like H bar, Solana, Vechain, and Rune are highlighted for various trends and potential trading opportunities.
  5. Commodities:
    • Gold is resting on its 200-day moving average, a strong support level historically.
    • Silver appears weak, with potential signs of a death cross.
    • U.S. oil was down 0.7% but seems to be setting up for a retracement.

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