BlackRock explores Arbitrum ❗️

Welcome back to the daily Coinsauce Newsletter, your go-to source for the latest crypto updates 🗞️

📈 Markets

• Overall bias - Neutral 🟠 

• $67,200 is a key resistance for a short -- Confluences include 4H premium zone, 4H bearish OB, 4H horizontal resistance, 4H AVWAP resistance.
  

• $67,200 breakout & re-test as a long -- If this level breaks, market becomes a little more confident for longs on re-tests of crucial supports.
  

• $59,500 for a long. This is the bullish order-block, where long trades can be looked out for subject to other confirmations.

📅 Today

SEC V/S Robinhood 👀 

The US SEC has issued a Wells Notice to Robinhood.

A Wells Notice is a formal notification informing a company or individual that the agency is planning to sue them.

The agency has accused Robinhood of providing customers with digital assets that the company classifies as securities without proper registration.

Robinhood firmly believes that the assets listed on our platform are not securities & is looking forward to engaging with the SEC.

Previously, Robinhood ended support for Cardano , Polygon and Solana on June 27 – the three tokens that were named as securities in the SEC lawsuits brought against Binance and Coinbase.

BlackRock X Arbitrum 🙏 

On Saturday, May 6, Securitize Markets, on behalf of BlackRock, posted a post on the Arbitrum governance forum.

BlackRock applied for a grant within STEP - Arbitrum's program that supports bringing Real World Assets on-chain.

If the proposal is accepted, BlackRock's BUIDL fund will be on two chains: Ethereum and Arbitrum.

The BUIDL fund currently has over $375 million assets under management.

📊 Stats

Educational 📔 

All about Nostr 👇️ 

Nostr, short for “Notes and Other Stuff Transmitted by Relays.” is an internet protocol built around the concept of self-owned account data and identities. Nostr is a simple, open protocol that enables global, decentralized, censorship-resistant social media, allowing social media applications to be built on it

Nostr Mythbusters :

Nostr is its own internet protocol, unrelated to bitcoin or blockchain tech. It's not about cryptocurrency but about free speech and publishing.

Why Nostr?

The answer is obvious. Nostr enables censorship-resistant publishing. Twitter, Meta, etc are great, but they all come with some serious drawbacks: ads, shadow bans, bots and spams, lack of free speech, etc.

How It Works :

Think of Nostr in two parts: Clients and Relays. Clients are like apps (e.g., Damus, Iris) for accessing the protocol, while Relays are backend servers. Users broadcast messages through relays, ensuring decentralization and resistance to censorship.

The following video is great to understand how Nostr works. Click here.

Nostr & Bitcoin Integration

Integrating Bitcoin with Nostr is seamless. Nostr accounts are akin to crypto wallets, making it easy for crypto-savvy users. Clients can facilitate Bitcoin transactions among users. Relays can monetize and control spam by implementing Lightning verification payments.

Nostr Statistics

Chart of the day 📈 

XRP/USDT (Short)

• 1H & 4H premium zone

• 1H & 4H horizontal resistance

• Big RSI divergence on resistance

• Loss of momentum & multiple divergences with bearish candlesticks formed at resistance would be additional confirmation.

• Note : None of the content posted here is Financial Advise. This is for educational purposes only.

🤣 Meme of the day

Always 😂 

That concludes our update for today!

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