Bitcoin BRC-20 Gains Popularity, Crypto Daily TV 4/5/2023

Bitcoin’s BRC-20 token standard popularized by memecoins

Bitcoin’s BRC-20 token standard has become the latest trend in the crypto ecosystem, especially after the Pepe memecoin rise in recent months. A total of 8,500 different tokens have been minted using the BRC-20 standard, with the majority of these BRC-20 tokens being memecoins.

Bitcoin regained $28k; Ethereum tops $1,850

Bitcoin was trading higher as the largest crypto token regained the $28,000 level, while Ethereum posted similar gains to trade above the 1,850 mark.

UK eases ad approvals for registered crypto firms

U.K. lawmakers voted in favor of a highly anticipated amendment to ease advertisement approvals for crypto firms. The amendment would allow crypto companies that are already registered with the country’s financial watchdog under its anti-money laundering regime to be able to approve their own ads.

BTC fell 0.4% against USD in the last session.

Bitcoin fell 0.4% against the Dollar in the last trading session. The Ultimate Oscillator is giving a positive signal. Support is at 27526.3333 and resistance at 29464.3333.

The Ultimate Oscillator is currently in the positive zone.

The Ethereum-Dollar pair gained a moderate 0.2% in the last session.

The Ethereum-Dollar pair made a minor upwards correction in the last session, gaining 0.2%. The Stochastic indicator gives a positive signal. Support is at 1801.7867 and resistance at 1912.5867.

The Stochastic indicator is currently in positive territory.

XRP/USD dove 1.5% in the last session.

The Ripple-Dollar pair dove 1.5% in the last session. The RSI is giving a negative signal. Support is at 0.4546 and resistance at 0.4709.

The RSI is giving a negative signal.

LTC/USD plummeted 1.1% in the last session

The Litecoin-Dollar pair plummeted 1.1% in the last session. The ROC is giving a positive signal. Support is at 84.7367 and resistance at 90.7967.

The ROC is currently in positive territory.

Daily Economic Calendar:

US Initial Jobless Claims

The Initial Jobless Claims is a measure of the number of people filing first-time claims for state unemployment insurance. The US Initial Jobless Claims will be released at 12:30 GMT, the US Unit Labor Costs at 12:30 GMT, and Germany’s Trade Balance at 06:00 GMT.

US Unit Labor Costs

The Unit Labor Cost shows the total cost of employing a labor force. It can serve as an indicator of trends in production costs, share prices, and inflation.

DE Trade Balance

The Trade Balance is the total difference between exports and imports of goods and services. A positive value shows a trade surplus, while a negative value represents a trade deficit.

DE Exports

The Exports measure of the total exports of goods and services by the local economy. Steady demand for exports helps to support growth in the trade surplus. Germany’s Exports will be released at 06:00 GMT, Australia’s Trade Balance at 01:30 GMT, and Australia’s Exports at 01:30 GMT.

AU Trade Balance

The Trade Balance is the total difference between exports and imports of goods and services. A positive value shows a trade surplus, while a negative value represents a trade deficit.

AU Exports

The Exports measure the total exports of goods and services by the local economy. Steady demand for exports helps to support growth in the trade surplus.

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.