Crypto Market Highlights: Bitcoin News
- Bitcoin was back at $41,718 before the Fed will have a meeting to raise interest rates. Following the growth of BTC, many altcoins also grew rapidly in just 1 hour. However, according to Coinglass statistics, there are $76M liquidations in just 1 hour after the BTC’s price rising. Bitcoin’s price has dropped to $39,000 and is predicted to continue to plummet.
Crypto Market Highlights: NFT News
- Meta CEO Mark Zuckerberg has stated that Instagram is planning to integrate NFTs into its platform. In an appearance at the South by Southwest conference in Austin, Texas, Zuckerberg claimed, “We’re working on bringing NFTs to Instagram in the near term.” The Facebook founder did not say when the execution will take place.
Crypto Market Highlights: Investment News
- Metamask parent company ConsenSys announced the close of a $450 million financing round, bringing its valuation to over $7 billion. ParaFi Capital led this raise after participating in ConsenSys’ Series C round in November 2021. They were joined by new investors, including Temasek, SoftBank Vision Fund 2, Microsoft, Anthos Capital, Sound Ventures, and C Ventures. The proceeds from the round will be converted to ETH to rebalance the ratio of ETH to USD-equivalents in line with ConsenSys’ treasury strategy. This further builds ConsenSys’ “ultrasound money” position in advance of Ethereum’s upcoming merge to Proof of Stake.
Crypto Market Highlights: Terra News
- Sensei Algod, a well-known Terra hater, initiated a public wager worth $1 million that the LUNA token will have a lower price than $88 in a year (starting on March 14), based on its pricing at the time of the bet. Surprisingly, Terraform Labs founder Do Kwon has accepted the $1 million bet two hours later. Both sides agreed to the conditions of the bet today, and each paid $1 million in USDT to an escrow wallet handled by Jordan Fish, the prominent crypto celebrity and UpOnly podcast host who knows by the alias Cobie.
- The Luna Foundation Guard (LFG) announced that 4 million LUNA tokens were burned to mint 372 million TerraUSD stablecoins (UST). The UST proceeds will be used to increase the foundation’s non-LUNA reserves by acquiring more collateral. The Foundation will hold around $2.2 billion in non-LUNA reserves when the burn is completed, while still keeping 8 million LUNA for future growth.
Crypto Market Highlights: General News
- Kazakhstan’s crackdown on illegal crypto mining has caused another 106 miners, some of which are associated with large businesses and ex-officials, to stop operating. 55 companies voluntarily halted operations, removed equipment, and moved it. Other 51 mines have been forced to close because they are suspected of evading taxes and customs, as well as putting equipment in special economic zones without permission. During the checks, it was discovered that certain well-known politicians and business figures were participating in crypto mining.
- Deus Finance was exploited on March 15, leading to the gain of ~$3M for the hacker (The protocol loss may be larger), including 200,000 DAI and 1101.8 ETH. The hack is made possible due to the flash loan-assisted manipulation of price oracle that reads the price from the pair of StableV1 AMM – USDC/DEI, so that even normal users, unfortunately, lose their money, according to PeckShield.
- Novelship, the biggest Asian sneakers and collectibles marketplace is now accepting Bitcoin, Ethereum and USDT as its payment options. Novelship made a partnership with TripleA, a cryptocurrency payment gateway for businesses licensed by Singapore’s central bank and financial regulation watchdog, the Monetary Authority of Singapore (MAS), to help them apply the crypto technology to their firm effectively.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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