Crypto Magazine

JUST IN: $4.5 trillion asset manager Fidelity files S-1 form for Spot Ethereum ETF with staking included.

📊Since last year, liquidity of BTC trading pairs on CEX has fallen 58.4% to 3,793 BTC, exacerbated by spot BTC ETFs in the US. The decline in liquidity coupled with rising demand for BTC signals a possible increase in volatility on the horizon.

⚡️⚡️⚡️⚡️⚡️⚡️ The US Attorney for the Southern District of New York, and the Acting Special Agent in Charge of the New York Field Office of Homeland Security Investigations, criminally charged KuCoin and two of its founders with bank secrecy act and unlicensed money transmission offenses, alleging they helped grow the exchange into one of the largest crypto exchanges globally. Furthermore, the founders affirmatively attempted to conceal the existence of KuCoin’s US customers.

💰 JPMorgan: Bitcoin Still Overbought Despite Price Drop Global investment bank JPMorgan has cautioned that bitcoin is still overbought despite the crypto’s recent price decline. JPMorgan’s analysts expect continued selling pressure on bitcoin as the halving approaches, “particularly against a positioning backdrop that still looks overbought despite the past week’s correction.”

The latest report from S&P Global Market Intelligence reveals the world's top 50 largest banks by consolidated assets, highlighting the significant growth of Chinese banks: 🇨🇳 Industrial and Commercial Bank of China — $5.7tn 🇨🇳 China Construction Bank — $5.0tn 🇨🇳 Agricultural Bank of China — $4.9tn 🇨🇳 Bank of China — $4.2tn 🇺🇸 JPMorgan Chase & Co — $3.7tn 🇺🇸 Bank of America — $3.1tn 🇯🇵 Mitsubishi UFJ Financial Group — $3.0tn 🇬🇧 HSBC Holdings — $2.9tn 🇫🇷 BNP Paribas — $2.9tn 🇫🇷 Crédit Agricole Group — $2.5tn

⚡️⚡️ BREAKING: Nilam Resources Plans to Buy 24,500 💰Bitcoin South American gold and precious metals producer Nilam Resources announced that it plans to purchase 24,800 Bitcoins (approximately $1.7 billion).

💰 5 institutional investors own 22% of the largest Bitcoin mining company Marathon Digital Holdings (NASDAQ: MARA) is the world’s largest publicly traded Bitcoin (BTC) mining company. Institutional investors have gradually increased their positions in Marathon despite the block subsidy halving expected in April. In particular, institutional investors own 38.9% of Marathon’s outstanding shares, holding 104,212,740 out of the 268 million. Finbold gathered this data from Nasdaq, which also shows the top five institutional shareholders of the Bitcoin mining company.

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📊 Meanwhile, trading volumes on the CEX reached $2 trillion!! And this is equivalent to the volumes of November 2021 - when the market reached the highs of the last bullrun 🚀

Think about it🤔

⚡️An estimated $20 billion in liquidations of less than $75,000 could send Bitcoin into the short squeeze of the century. A Short Squeeze is a situation where the price of a stock rises sharply and holders of short positions are forced to urgently buy securities to cover them and limit losses. This leads to even higher prices and increased losses on uncovered positions.

📊 DeFi Project Targets Multibillion-Dollar Market with Groundbreaking DeFi Debit Card Launch DeFi project develops a globally-supported debit card for daily purchases and financial transactions. DeFi offers anonymity and worldwide accessibility but falls short in user experience and broader application in daily life. Xuirin Finance introduces a DeFi debit card to connect decentralized finance with everyday spending habits. Its potential for innovation is frequently obscured by its complexity, making it an area primarily for those deeply involved in the crypto space.

👀JPMorgan analysts asserted Bitcoin is still in "overbought territory" even after its recent correction, suggesting further potential drops. They cite limited unwinding in futures positions and maintain that ongoing profit-taking, especially with the upcoming halving, could continue to pressure prices.

⚡️⚡️⚡️⚡️⚡️⚡️ Self-custody is now illegal in EUROPE ! Any cash payment above €10,000 will become illegal, while also anonymous cash payments above €3,000. Payments made in cryptocurrencies will be prohibited through unidentified wallets. This includes any self-custody wallet provided by mobile, desktop, or browser applications.

💰 1inch Network Integrates Lumia To Help DeFi Liquidity The 1inch Network, a cornerstone in the decentralized finance (DeFi) arena, has recently announced its integration with Lumia. It aims to bolster DeFi liquidity and challenge the competitive edge of centralized exchanges. During a 30% downtrend that has left stakeholders questioning the future, this integration could potentially be the catalyst for recovery.

📊Bitcoin-ETF holdings in shades of gray (greyscale) are falling off a cliff. A 50% drop, or about $20 billion at the current BTC price. We should be days/weeks away from them dropping rates to stop their bleeding. Blackrock holdings are expected to overtake Grayscale even before halving

📊 Top 10 DeFi dApps generating an average of $4.8 billion in fees annually Total fees generated from the top 10 DeFi dApps tracks via DefiLlama will amount to $4.8 billion annually based on the past 24 hours of activity. Across staking, dexes, lending, and wallets, $13.15 million in fees were generated in the past day. Lido tops the chart for fee generation, while Curve retains the number one slot for revenue, with Maker and Lido just behind. Two of the biggest gaps between fees and revenue can be seen in Aave and Raydium, which generated over $1 million in fees over the past day.

🪙 Ethereum stalwarts make push to raise gas limit, aiming for 15-33% reduction in fees Ethereum Layer 2 transaction fees have dropped massively since the introduction of blobs and some Ethereum community members want to see further gains on the mainnet itself. Ethereum angel investor Eric Conner and Mariano Conti, former head of smart contracts at MakerDAO, are pushing for an increase in the gas limit on Ethereum. They say it could reduce transaction fees by 15-33%.

💡💡💡 The Ethereum Foundation, the Swiss NPO behind the Ethereum ecosystem, is under investigation by an unnamed "state authority," according to the group's website's GitHub repository. The scope of the investigation and its focus remain unknown at the present time. An attorney familiar with the situation said a Swiss regulator may have served a document request to the Ethereum Foundation, and may be working with the US SEC.

💰 MicroStrategy bought 9,245 BTC for $600 million The company completed the placement of convertible bonds for $603.75 million. The proceeds were used to purchase Bitcoin between March 11 and March 18.