Weekly Crypto & Blockchain Update: March 24-30
Here’s your roundup of the most significant developments in crypto and blockchain from the past week:
Top Industry News
Market Movements
- Bitcoin is down 5.7% over the last 7 days, currently at $81,800
- Ethereum is sitting at $1,790 with a 13.4% decrease from the previous week
- Last week’s top 3 gainers were FORM (+23%), CRO (+20%), and TON (+7%), while the top 3 losers were HYPE (-26%), PI (-25%), and CAKE (-24%)
- The crypto market’s Fear & Greed Index is at 24 Fear today
- Crypto market capitalization at $2.65 trillion, down 1.86% since yesterday
- Stablecoins market capitalization is up 0.65% in the last 7 days, currently at $234 billion, with USDT dominance at 61.8%
- NFT sales volume decreased by 80% over the previous 7 days while total sales decreased by 9% with 164,878 sales
- Bitcoin's market cap dominance is currently at 61.4%, Ethereum at 8.2%, and other cryptocurrencies at 30.4%
- Crypto prices fall amid trade tensions and US inflation concerns
Crypto Security
- Cybersecurity firm Threat Fabric found a new kind of mobile-device malware “Crocodilus” that affects Android users by launching a fake screen overlay for certain apps to steal crypto and take over the device
- Ethereum-based DeFi platform SIR.trading suffered a hack and lost their entire TVL of $355,000
- Darkweb actors claim to have hundreds of thousands of user records of Gemini and Binance users mainly from the U.S., along with Singapore and the UK
Regulatory Updates
- Australia’s AUSTRAC placed crypto ATM operators “on notice” due to money laundering and fraud concerns
- SEC dismissed cases against Kraken, ConsenSys, Cumberland DRW, and Crypto.com
- South Carolina’s state rep introduced a bill proposing the allocation of 10% of certain public funds to Bitcoin as a reserve asset
- BlackRock launched a Bitcoin exchange-traded fund in Europe, iShares Bitcoin ETP (IB1T), which is listed on German, Dutch, and French stock exchanges
- Nigerian minister claims terrorists and kidnappers were funneling funds through Binance, with the legal case going to trial soon
Investments & Partnerships
- French state-owned investment bank Bpifrance plans to invest €25 million into digital assets and support local blockchain projects
- Bitcoin mining firm MARA is launching a $2 billion stock offering to raise capital to buy more Bitcoin
- Custodia Bank and Vantage Bank partner to launch America’s first bank-issued stablecoin Avit built on Ethereum
- The Blockchain Group adds 580 BTC (worth $48 billion) to its Bitcoin holdings as its stock continues to rise since their Bitcoin pivot
Blockchain Tech & Gaming
- Blockchain developer platform Gelato to launch a blockchain-as-a-service solution on Avalance to help financial institutions adopt blockchain infrastructure easily
- Solana’s decentralized exchange Raydium is going live this week with their new platform LaunchLab, an alternative to Pump.fun
- Off the Grid game’s GUNZ network built on L1 Avalanche and GUN token to launch on March 31st
Miscellaneous
- USDC stablecoin market cap hit a new all-time high, passing $60 billion and increasing its share of the stablecoin market by 5% in 3 months
- Financial advisors estimate that 1 in 4 S&P 500 firms will hold Bitcoin (BTC) in their balance sheets by 2030
- More than 20% of South Korean officials disclose holding cryptocurrencies, including BTC, ETH, XRP, and DOGE
- Bitcoin and crypto mining stocks are down after Microsoft cut their plans to invest in data centers in the US and Europe
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Wishing you a great week ahead!
- Swapin Team