Weekly Crypto Digest for March 11-17, 2024
Monday, March 18, 2024
In the latest issue of Weekly Crypto Digest, read more about another ATH for BTC again, Dencun has been activated, Tesla might start accepting DOGE, and more news.
Ethereum developers have activated the Dencun
On March 13, the Ethereum team successfully implemented the Dencun (Deneb-Cancun) update on the mainnet.
One of the main components of the update is EIP-4844. It includes the Proto-Danksharding option, intended for network scaling.
Commissions in L-2 level networks sharply decreased after the deployment of the Dencun update..
Before Activation:
Optimism — $2.4;
Base — $1.2;
Arbitrum — $0.8;
ZkSync - $0.5;
Zora - $0.7.
After Activation:
Optimism — $0.08;
Base — $0.2;
Arbitrum — $0.5;
ZkSync - $0.1;
Zora - $0.06.
Bitcoin's new ATH at $73,000
On Wednesday, March 13, Bitcoin tested the $73,000 mark (a new all-time high), then corrected and is now trading around $68,500.
Most crypto assets from the top 10 by capitalization ended the week with a decline. The exceptions were Solana (+35.9%), BNB (+11.5%), and XRP (+2%).
MicroStrategy bought an additional 12,000 BTC
MicroStrategy additionally purchased 12,000 BTC at an average price of $68,477. The purchase was financed by placing convertible bonds maturing in 2030.
Later, the company announced its intention to raise another $500 million through securities to purchase bitcoin.
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Dogecoin up by 10% after Musk's statement
Elon Musk, the owner of the social network X (formerly Twitter), suggested that Tesla will start accepting Dogecoin (DOGE) as a means of payment for cars in the future. The billionaire made such a statement during a recent visit to the Giga Berlin plant.
Dogecoin (DOGE) jumped 10% amid Musk's statement. The price of the asset rose above $0.19. At the time of writing, it is trading at nearly $0.185.
The court ordered CZ to hand over his passport
The US District Court changed the bail conditions for the founder of the cryptocurrency exchange Binance, Changpeng Zhao (CZ), and ordered him to surrender his Canadian passport. Thus, the request of the Ministry of Justice was satisfied.
Judge Richard A. Jones officially forbade the entrepreneur from leaving the United States until the sentencing in his case. In November 2023, CZ pleaded guilty to violating the Bank Secrecy Act and agreed to pay a fine. Soon after, Zhao was released on bail of $175 million.
Also read our latest article The Difference Between Crypto Market Making and Wash Trading in The Cryptocurrency Market.
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