There's a not a lot of movement to be seen in the daily as current price action is still sideways. Key resistance area is around 10,300, while key support is around 8,600 - 8,500. Looking in the intraday chart (4H), we can see that price is also moving in a sideways manner and is experiencing relative traction between buyers and sellers as seen in the candles formed (wicks and closing "indecisive" doji candles). Immediate levels in the 4H are clearly seen with around 9,800 as immediate resistance, while we have around 9,400 - 9,300 as immediate support.
Global market cap is at $275B, while BTC's market cap is at $178B.
Several Chinese crypto traders and over-the-counter merchants have had their bank accounts frozen because their transactions may have been contaminated by money-laundering activities involving cryptocurrencies. The action was being taken in China's Guangdong province, and could potentially impact "several thousand people," according to a post on Weibo by Sun Xiaoxiao, who runs an OTC desk.
The affected users aren't necessarily accused on any crimes, but officials are concerned because OTC desks are the only fiat currency on- and off-ramps for Chinese-based crypto users with no overseas bank accounts. The Chinese police' investigation allegedly includes telecommunication frauds, Ponzi schemes, and casino businesses - possibly looking into not just "dirty money," but also "dirty coins" that are circulating.
Illegal miners in Russia built power stations, tampered power meters and underground mining farms to steal almost $6.6 million worth of electricity. According to a report by state-owned power grid company Rosseti, illegal miners were able to operate and steal from local energy providers for over three years. The report also discussed details about how these miners would operate the hidden mining farms in factories, garages, rented offices, a house in the woods, and an actual farm (for producing food).
The owners of these mining farms would steal electricity by pulling an electric cord to the nearest power line and
build their own transforming stations. In other cases, people would tamper power meters to hide their electricity consumption and make it look like they consume less energy than a mining farm would need.
The Bank of Lithuania (Lietuvos Bankas) is issuing "LBCoin," a commemorative digital token on the NEM blockchain, which its own officials say no shopkeeper has the e-wallet necessary to accept. LBChain's 11 participating fintechs built blockchain-based applications for the financial sector, and demonstrated the value and risks of deploying blockchain tech in the industry. The project also taught the bank to work with blockchains and show where it might prove useful - even beyond the financial sector.
LBChain, described as "like a small-scale experimentation about central bank digital currency (CBDC) by Andrius Adamonis, the bank's Head of Innovation, will have purposefully limited daily usage and will only be a "commemorative" token.
This Daily Dose was brought to you by SCI News Channel.