Yellow Capital Blog/Weekly Crypto Digest/Weekly Crypto Digest for March 4-10, 2024

Weekly Crypto Digest for March 4-10, 2024

Sunday, March 10, 2024

In the latest issue of Weekly Crypto Digest, read more about how Bitcoin reached new all-time high, SEC postponed Ethereum ETF, SpaceX and Tesla BTC wallets were found, and more news.

Bitcoin reached new all-time high

Bitcoin renewed its all-time high

On March 5, the BTC exchange rate surpassed the $69,000 mark and renewed the historical maximum reached in November 2021. At the time of writing, the Bitcoin price is $69,778.
Ethereum has also grown and is trading at $3931.
Most altcoins have seen growth, and the top 10 by capitalization look like this:

Top-10 cryptocurrencies by capitalization

1. Bitcoin (BTC) - $1.37T
2. Ethereum (ETH) - $472.11B
3. Tether (USDT) - $101.95B
4. BNB - $82.02B
5. Solana (SOL) - $64.32B
6. Lido Staked Ether - $38.65B
7. Ripple (XRP) - $34.11B
8. USDC - $26.15B
9. Cardano (ADA) - $25.79B
​10. Dogecoin (DOGE) - $24.96B

SEC Postpones Decision on BlackRock's Spot Ethereum ETF

The US Securities and Exchange Commission (SEC) has extended the review period of BlackRock's application to launch a spot Ethereum-ETF.
The regulator made the same decision regarding a proposal similar to Fidelity's.
The Commission will continue to collect comments from the public.
​Both investment giants have applied to register exchange-traded funds based on the ETH spot price in November 2023.

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Arkham analysts traced the bitcoin assets of Tesla and SpaceX to $1.3 billion

Analytical platform Arkham Intelligence discovered Bitcoin wallets of Elon Musk's companies. We are talking about the companies Tesla and SpaceX, whose addresses users can now track.
SpaceX has 8,290 BTC on its balance sheet at 28 addresses, which is estimated at $554 million in monetary terms.
​Tesla's Bitcoin reserves contain 11,510 BTC at 68 addresses. In monetary terms, the electric car manufacturer's digital assets reach $769 million.

39 projects attracted $224.3 million in investments in March

39 projects attracted $224.3 million in investments in March

From March 1 to 9, 39 projects attracted investments in the total amount of $224.3 million.
The top 5 projects in terms of the amount of funding received were:
Zama $73 million $30 million
Baanx $20 mln
Taiko $15 million
​Utila $11.5 million

Grayscale has launched a crypto fund based on staking

Grayscale Investments, a company that manages crypto assets, has announced the launch of an investment fund in which income will be generated by staking digital currencies.
The structure will be operated by a subsidiary company called Grayscale Advisors.
The firm used "qualitative and quantitative factors," including staking reward, market capitalization, and liquidity, to select assets backed by Grayscale Dynamic Income Fund (GDIF).
The fund's portfolio initially consists of nine tokens: Aptos (APT), Celestia (TIA), Coinbase Staked Ethereum (CBETH), Cosmos (ATOM), Near (NEAR), Osmosis (OSMO), Polkadot (DOT), SEI Network ( SEI), and Solana (SOL).
​It is planned that income distribution and rebalancing will take place quarterly.

The head of the Fed: the digital dollar will not be a surveillance tool

The Fed is not ready to launch a digital dollar and is not interested in the form that will enable the surveillance of citizens. This was stated by the head of the department, Jerome Powell, during hearings in the US Senate.
During the hearing, Powell cited the digital yuan as an example of concerns that a retail CBDC would allow governments to monitor citizens and "see all transactions." According to the head of the Fed, this is "not what the agency stands for."
According to him, although it is still too early to even think about the launch of the digital dollar, in any case, it will be done through the banking system.
​According to the Atlantic Council tracker, work on creating a national digital currency is underway in 131 countries worldwide. Governments in 13 developing nations have already launched CBDCs.

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