Will Mastercard enter into a partnership with Metamask?
What do we have for you in today's newsletter?
- Analysis of BTC and ETH
- News crypto - Mastercard checks out potential allies with Web3
MARKET ANALYSIS BY CRYPTOAARON
BTC continues to accumulate. The first raise to $35K was successful. Now it will either accumulate under and another week likely to return to $29-31K, or it will be tempted to make one more raise to $38-40K and from there return to the mentioned zone. The latter scenario possible if the last peak is pierced by the minimum on H6. Either way, in two cases a corrective move is possible with high probability, so profit taking and stop loss on all positions are recommended on spot as well. Don't underestimate it.
Identical situation, $1850 we have reached. And we will either break through on H6 and make $1950-2050, or already start the correction. Range min $1700, and even $1450-1580 zone realistic. Broad for now, as the bigger mystery is how hard ETH will fall to correct BTC, as we see it has peeled off for a while.
As for altcoin it's hard to say anything, everything looks more like a "last leg up" ( locally ) so to be safe we'll wait for a correction to buy something interesting. Fortunately, all the alts from the Newsletter went as one of the best on the whole raise, so job well done.
If the market has driven you away, rest assured, there will still be an opportunity.
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NEWS FROM THE WORLD OF CRYPTO
Mastercard checks out potential allies with Web3: MetaMask and Ledger included
Global payments giant Mastercard is considering a potential partnership with self-service wallet companies such as MetaMask and Ledger as part of a strategic push into the Web3 space. Citing an internal report from a Web3 strategy workshop, CoinDesk on Tuesday said Mastercard sees the integration of payment cards with self-service wallets as a mutually beneficial venture, helping wallet providers increase their user base and user loyalty, while cardholders can spend their cryptocurrencies seamlessly.
Mastercard acknowledged, however, that launching cards in new regions requires a lot of resources, which the company, along with its issuance partners, can provide support in. In addition to these initiatives, Mastercard is reportedly evaluating new global issuance models that use stablecoins and "inexpensive fast chains." The report does not clarify what is meant by "inexpensive fast chains," but it is likely that this refers to the use of stablecoins in Tier 2 solutions or in the base layer of blockchains other than Bitcoin (BTC) or Ethereum (ETH). In addition, the company is working on cryptocurrency-related projects through a number of new solutions, including Mastercard Multi-Token Network, Crypto Credential, CBDC Partner Program and new card programs combining Web2 and Web3 technologies.
Credit card networks switch to cryptocurrencies
Mastercard's move is part of a broader trend of large credit card networks diving into the cryptocurrency landscape despite the difficult regulatory environment in many parts of the world.
Visa, another major player, earlier this year reiterated its commitment to cryptocurrencies, denying recent reports that the payments giant plans to halt its push into cryptocurrencies due to uncertain market conditions.
Among the cryptocurrency projects Visa has launched is a test using Ethereum to demonstrate how users can pay gas fees directly in fiat money via Visa card payments.
Mastercard to publish franchise standards
According to the CoinDesk report, the next step Mastercard has planned for its cryptocurrency venture is now to issue a set of franchise standards to ensure consumer protection, price competition and transaction monitoring requirements.
If the standards are approved, Mastercard will launch a card targeting the European Union or the UK as its initial market, the report said.
The overarching goal is reportedly to offer users a simple and tax-efficient solution, enabling liquid transactions without the need to pre-fund or spend any cryptocurrency resources.
Have a fantastic week!