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Today’s Cryptocurrency Headline
French banking giant BNP Paribas has joined JPMorgan’s blockchain-based fixed income trading network Onyx. The Onyx digital asset network uses tokens for short-term trading in fixed income markets, enabling investors to lend out assets in just a few hours without actually leaving the balance sheet. Since its launch in 2020, the Onyx network has conducted around $300 billion in intraday repo transactions. Goldman Sachs has also previously used JPMorgan’s network for repo transactions.
BingX’s Bitcoin Chart
According to CoinShare, Digital asset investment products saw outflows totalling US$141m last week. Total assets under management (AuM) are now at US$38bn, their lowest point since July 2021. Bitcoin is down 3.81% over the last 24 hours and fell to an intraday low of $28,843.00. Bitcoin has been trading in a tight range between $28,500 and $30,000 over the past week, and managed to hold the price above the $28,000 support level, indicating the bulls are buying around this level. For now, the buyers need to push the price back above the $30,000 key level, and if they manage to do that, the BTC/USDT pair could rally to the 20-day exponential moving average (EMA) ($31,408).
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