ETH: Three Arrows Capital continues to increase its holdings and withdraws 2,000 ETH

The US SEC proposed to expand the definition of regulated dealers and include securities-type crypto assets in the regulation, which will have a significant negative impact on Defi, but fortunately, Defi is completely decentralized and the possibility of a direct ban is not great. At the same time, the US budget report for 2023 shows that it will bring $10 billion in new revenue to the government in the next 10 years by expanding crypto tax returns. Overall, the US regulation is becoming stricter and its reach is getting longer and longer, which is a good thing in the long run. After all, it can give the green light to more institutions, making the crypto market truly the world's largest mainstream financial market.

Canadian prime ministerial candidate said Canadians should have the right to choose currency or Bitcoin, and people can take back control of their funds from banks. Candidates from various countries desperately support decentralized assets for votes, which will sow the seeds of power transfer for their future careers.

The Vietnamese government and central bank are developing a legal framework for cryptocurrencies. Another country has entered an era of regulation and compliance and embraced cryptocurrencies. Currently, more than 5.9 million people in Vietnam own cryptocurrencies, accounting for 6.1% of the total population, and there is still a lot of room for growth.

Dubai Citizens Sch. . [Accepts Bitcoin and Ethereum for tuition payments, becoming the first school in the Middle East to accept cryptocurrency payments. Since the UAE embraced the crypto market, the adoption of cryptocurrencies has risen rapidly throughout the country.

Hong Kong Exchanges and Clearing Limited (HKEX) Chief Executive Officer Paul Chan said that the company will launch a digital trading platform in 2022 to expand its international business scope. It seems that Hong Kong will soon choose to embrace this market.

The Little Fox mobile app supports debit cards as well as Visa and Mastercard to purchase cryptocurrencies, bridging the gap between banks and the crypto market; at the same time, Mastercard and BTC Markets have cooperated to allow customers to purchase cryptocurrencies directly from the platform via debit or credit cards. These things will lower the threshold for investing in the crypto world, and the growth will be even more rapid in the foreseeable future.

It is rumored online that the cryptocurrency exchange FTX is considering setting up an FOF fund, that is, a fund of funds, to create convenience for external capital investment. In this way, all institutions will be able to indirectly participate in the crypto market in a compliant manner. Institutions will have great interest in this product and bring fresh blood to the market.

The total inflow of crypto investment products last week reached US$193 million, the largest inflow in nearly 4 months. SOL has a large inflow of funds this week, indicating that more institutions off-site are beginning to be optimistic.

CME Group announced the launch of micro Bitcoin and Ethereum options. One option contract represents 0.1 Bitcoin or Ethereum. This has begun to pave the way for small-cap users. Otherwise, $50,000 worth of Bitcoin would be too expensive for many families. Let’s look forward to the arrival of an era where prices are denominated in “satoshis” in the future.

Wisdom Tree has launched the Likoumi ETP for SOL, ADA, and DOT in Europe. Recently, several major public chains including LUNA are still competing fiercely for the top ten in market value, and the market value gap is not large, which shows that the current market is still a public chain track and can be given more attention.

Grayscale CEO said that if the Bitcoin ETF applied by Grayscale is rejected by the SEC, it may sue the SEC. He only dared to say this in the United States and even dared to threaten the regulatory authorities. The boss of Grayscale is really powerful. I hope he can succeed in his threat, haha.

Fear Greed 56, still greed.

Coin News:

Bitcoin: The balance of Bitcoin addresses held for more than 1 year hit a new record high. As more and more Bitcoin players hold Bitcoin for a long time, the upward pressure will be reduced in the future. It is expected that these long-term holders will start to loosen their chips around 60,000. The difficulty of Bitcoin mining will hit a new record high at the end of March. This is a clear bull market signal. Patience is the main thing to hold Bitcoin. In the short term, it will still fluctuate for 1-2 days, and then it is expected to continue to fluctuate and rise, attacking 50,000.

ETH: Three Arrows Capital continued to increase its position and withdraw 2,000 ETH. Since March, 1.268 million ETH has been withdrawn from Ethereum exchange addresses. In addition, various public chains have begun to move closer to ETH (increasing EVM compatibility). It is expected that it will continue to lead the market in the future. Just hold the currency patiently at this position, as the main uptrend has not yet finished.