Crypto Magazine

According to Kaiko, on March 5th, 🥇 BTC and 🔵 ETH spot trading volumes surged across various CEXs, with Binance leading the pack: ⚫️BTC spot trading volume reached $46.25bn, marking the highest since 2021 ⚫️Binance dominated BTC trading with $23.84bn, followed by other exchanges like Coinbase, Bybit, and OKX ⚫️ETH spot trading volume exceeded $20bn, with Binance again leading at $10.04bn ⚫️Bybit, OKX, and Coinbase also recorded significant ETH trading volumes

Over the past 24 hours, 197,853 traders were liquidated, the total amount of liquidations is ~ $657.03 million😱 The largest single liquidation order occurred on Binance - 💲BTC/USDT worth $8.23M

🪙 Tether USDT poised to hit $100 billion market cap following a surge in global usage Tether’s USDT stablecoin is on the verge of a significant milestone, with its market capitalization nearing $100 billion. CryptoSlate’s data show that the digital asset currently boasts a market capitalization of $99.5 billion, representing a 9% growth on the year-to-date metric. This surge follows the recent minting of 1 billion USDT by the Tether Treasury. On Mar. 3, Whale Alert reported this significant activity, with the Tether Treasury creating an additional 1 billion USDT, valued at approximately $999 million.

🔵 The Coinbase App's ranking on the US Apple Store is rising quickly, currently sitting at #46 in the Free Apps category. Just about a month ago, it was ranked at #479.

💰 Solana Weekly DeFi Trading Sets All-Time High Above $11 Billion Trading volume on Solana-based decentralized exchanges (DEXs) blew past an all-time record this week, cementing the Ethereum rival’s place among the top beneficiaries of the crypto market’s current, steadily escalating bull run. Over the period of February 24 to March 2, more than $11.19 billion worth of digital assets were traded on Solana decentralized exchanges, according to data compiled by Defi Llama. That figure is up over 154% from the preceding seven-day period.

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📊Digital asset investment products saw the second largest weekly inflows on record totalling $1.84bn. Trading volumes in investment products reached a record of over $30bn for the week. The US saw net inflows totalling $1.88bn, subdued partially by a $1.46bn outflows from incumbent Grayscale ETF. This was offset by new issuers, which saw a total $3.2bn inflows last week

💡💡💡 Michael Saylor's MicroStratgey to raise $600 million to purchase more 🥇 Bitcoin.

🪙 Uniswap Governance Votes Unanimously to Empower UNI Holders With Protocol Fee Rewards In a landmark governance decision, Uniswap’s community has voted unanimously in favor of a proposal to reward UNI token holders who stake and delegate their tokens. The upgrade, aimed at revitalizing the protocol’s decision-making process, has garnered overwhelming support with over 10 million UNI tokens pledged in its favor.

📊 DeFi ‘points’ farming has reshaped the crypto investment landscape As a DeFi-focused hedge fund, MEV Capital has grown comfortable with moving funds around on-chain in pursuit of higher returns, a strategy known as yield farming. MEV Capital is farming these points especially in order to gain exposure to EigenLayer and a raft of other Ethereum restaking projects offering off-chain points to on-chain users. It’s a testament to renewed animal spirits in crypto and the excitement surrounding restaking that hedge funds like MEV Capital are now acquiring participation tallies for clients.

Bitcoin in the Eurozone Hits New All-Time High 🔥 On several Euro-denominated trading platforms, a new high has been reached. In the last 4 hours, approximately 22.7 million USD in short trades were liquidated. Measured against the USD, Bitcoin reached a new annual high of 65,000 USD and its highest level since November 2021.

📊 DeFi ‘points’ farming has reshaped the crypto investment landscape As a DeFi-focused hedge fund, MEV Capital has grown comfortable with moving funds around on-chain in pursuit of higher returns, a strategy known as yield farming. MEV Capital is farming these points especially in order to gain exposure to EigenLayer and a raft of other Ethereum restaking projects offering off-chain points to on-chain users. It’s a testament to renewed animal spirits in crypto and the excitement surrounding restaking that hedge funds like MEV Capital are now acquiring participation tallies for clients.

🔸Binance has removed the Nigerian naira from its P2P platform Binance has removed the Nigerian naira from its P2P system. According to BBC, the country's authorities have also demanded a $10 billion fine from the exchange, accusing the company of devaluing the naira and disrupting the economy.

🌐Uniswap has officially placed an offer to reward UNI stakers Uniswap has posted a proposal that will allow the exchange to share revenue with UNI Stakers. Voting will continue until March 7.

💰 $10 billion at risk of liquidation if the price drops by -20% from here 📉 And $1.2 billion at risk of liquidation if it pumps +20% from here 📈 $10 Billion Longs vs $1.2 Billion Short Positions. A leverage flush is imminent...

More than $1.5 billion liquidated last month. Longs: $538.25M/ Shorts: $973.21M

💡💡💡 Grayscale spot Bitcoin 🥇 ETF banner featured on Wall Street in New York City.

Bitwise Chief Investment Officer says 🥇 Bitcoin could reach $100,000 - $200,000 or higher in 2024. "There's too much demand and not enough supply."

🥇 Bloomberg analysts predict spot Bitcoin ETFs could pass gold ETFs in assets under management in less than 2 years. 🐂

📈Yesterday, Blackrock's BTC ETF traded at $1.3 billion. The trading volume ranked 11th among all ETFs and among the top 25 for equity trading on the American market. A total of 9 ETF funds ended the day with a volume of $2.4 billion, breaking the record for the first day of trading set in mid-January. The outflow from Grayscale also reached a minimum, with only $22 million on February 27, while the rest of the funds saw a combined inflow into BTC ETF of $540.3 million.