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Today’s Cryptocurrency Headline

Blockchain analytics firm Chainalysis has announced the launch of a crypto wallet sanctions monitoring tool that will allow cryptocurrency wallet owners to determine if their wallets are compliant with global sanctions and will be available to the cryptocurrency industry for free. Centralized exchanges widely use transaction monitoring tools to comply with sanctions policies and AML/CFT regulations, but participants and projects in the decentralized ecosystem lack tools to detect risks. Chainalysis said it is difficult for the Russian government and financial elite to use cryptocurrencies on a large scale without detection.

BingX’s Bitcoin Chart

Source: TradingView& BingX

According to IntoTheBlock data, the number of bitcoins held by miners hit a 10-year low of about 1.9 million. BTC continues to struggle to break the 20-day exponential average (EMA) at $39,910. The cryptocurrency rose to an intraday low of $40,255 in the morning, but the bulls failed to maintain the price above the 20-day EMA. The relative strength index (RSI) is below the midpoint, suggesting that the bears have a slight advantage. As BTC has been trading between $37,000 and $45,000 in the past few weeks, the sideway will likely continue.

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