the daily degen 🦍(27Jul23)
handle.fi daily market update
todays markets
market news
the Federal Open Market Committee (FOMC) of the U.S. Federal Reserve concluded its two-day policy meeting Wednesday by resuming rate hikes after a one-meeting pause, raising its benchmark fed funds rate by 25 basis points to a targeted range of 5.25%-5.50%.
crypto exchange Binance has listed the new stablecoin First Digital USD and is offering zero trading fees for select FDUSD pairs for a limited time. Binance's FDUSD listing comes amid controversy around its recent TrueUSD promotion. reports have alleged that Tron founder Justin Sun might be behind TUSD, but he has denied the allegations. "I am not involved in any ownership or acquisition of TUSD," Sun told The Block last week. "The management and operations of TUSD are entirely under the purview of Techteryx, an independent entity."
The Bank of Italy’s innovation hub picked a decentralized finance (DeFi) project involving Ethereum scaling network developer Polygon Labs and crypto infrastructure provider Fireblocks to help financial institutions dabble with DeFi and tokenized assets. The Milano Hub, the Italian central bank’s center for developing innovative ideas in finance, will support the development of the so-called Institutional DeFi for Security Token ecosystem for six months, the press release said.
around the twitterverse…
trade ideas
trade: short BTC/ USD
BTC fell below the range (~29500-31600) low and is now testing it as resistance. first test re-entered but 4hr candle was unable to close back in range. this could just be a short squeeze prior to further downward expansion. in which case, first support target would be $28.3k level (previous resistance). if price is able to successfully return to the range and hold then look to cut the SHORT trade as probability is now to the upside.
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