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Circle Launches Verit-Based Institutional Digital Identity System

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Today’s Cryptocurrency Headline

USDC issuer Circle announced the launch of an institutional digital identity system based on Verit, an open-source framework for the issuance, custody, and verification of decentralized identity credentials.Institutions with Circle accounts and MetaMask institutional wallets can request KYB (Know Your Business) credentials, allowing both web and mobile applications and smart contracts to verify user permissions (including usage rights, time, location, etc.) to license the chain activity.

BingX’s Bitcoin Chart

Source: TradingView & BingX

According to Glassnode, the number of Non-Zero Addresses reached an ATH of 86,462,878. Bitcoin is down 0.76% over the last 24 hours and fell to an intraday low of $18,921.68. The largest cryptocurrency rose above the $20,000 price level on Sept. 30, but the price was unable to sustain above $20,000, suggesting that sellers remain active at higher levels. Due to the lack of demand, Bitcoin continues trading sideways during the weekend. This shows that both bulls and bears are unwilling to make a decisive move. In order to change the current market dynamics, the bulls need to push the price above the 20-day EMA ($19,447). If the price maintains above the 20-day EMA ($19,447), the price could then rise to the 50-day simple moving average (SMA) ($20,302).

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