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Unraveling the latest crypto trends

Tanja Nechet

News editor

Mar 20, 2024 at 11:03

Stay up-to-date with our collection of news, market updates, and in-depth analysis👇.

🔍 Ethereum Foundation is under investigation 

Coindesk reports that Ethereum Foundation is under investigation by an unnamed “government agency”.

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The extent of the investigation and its focus is unknown at the time of publication.

According to Fortune, the SEC is campaigning to classify Ethereum as a security.

💲 Thanks to crypto: more than 1500 new millionaires appear daily

According to Kaiko, amid the Bitcoin rally, the number of wallets with the first cryptocurrency balance exceeding $1M is growing by an average of 1500 pieces every day.

❓ Binance will delist DREP, MOB, PNT tokens

Crypto exchange Binans has decided to delist and cease trading on all trading pairs on 2024-04-03 03:00 (UTC):

  1. DREP (DREP),
  2. Mobilecoin (MOB),
  3. pNetwork (PNT).

The following trading pairs are deleted: DREP/BTC, DREP/USDT, MOB/BTC, MOB/USDT, PNT/USDT.

All trade orders will be automatically deleted after trading is halted for each respective trading pair. Deposits of these tokens will not be credited to your account after 2024-04-04, 03:00 (UTC). 

Withdrawals of these tokens from Binance will not be supported after 2024-07-03, 03:00 (UTC).

Delisting tokens MAY be converted to stablecoins on behalf of users after 2024-07-03, 03:00 (UTC).

🌗 Bitcoin halving in 2024: when will it happen and how will it affect the BTC 

Bitcoin halving is approximately 27 days away. It is one of the key events for the cryptocurrency market. Its essence lies in the halving of the reward received by miners for adding a new block to the blockchain.  

The impact of halving on quotes is explained through the classic principle of economics – supply and demand.

When the reward for mining a block is halved, miners start receiving less cryptocurrency for their work. This reduces the rate at which new Bitcoins enter the market, reducing the supply of the asset. If demand for Bitcoin remains stable or increases, the reduction in new supply can lead to an increase in value.

Let’s look at previous data:

The first halving, November 28, 2012, BTC = $12. 

Six months later, on May 28, 2013, BTC = $110.

The second halving, July 9, 2016., BTC = $660. 

On January 9, 2017, BTC = $900.

The third halving, May 11, 2020, BTC = $8,600. 

Six months later, on November 11, 2020, BTC = $15,700.

👛 Robinhood is launching a crypto wallet for Android users worldwide

Robinhood has officially launched its cryptocurrency wallet for Android users, expanding access to millions of potential cryptocurrency users around the world.

The Android expansion comes a year after Robinhood Wallet was launched for iOS users.

Last month, Robinhood announced its fourth quarter 2023 results and said its cryptocurrency business has grown. Specifically, cryptocurrency revenue grew 10% year-over-year to $43 million in Q4, and notional cryptocurrency trading volume increased 89% in Q4 compared to the previous quarter, driven by increased customer activity. Robinhood also recently launched its cryptocurrency trading app in the European Union.

🔑 Key crypto market highlights (March 20-27)

💲 Ideas

[1] 🔔 Participating in the fourth campaign from Aptos on Galxe

To get OAT, we need to complete social tasks and interact with two DeFi protocols. The deadline is March 26.

Step-by-step guide

  • Go to Galxe and complete social tasks;
  • On the site of VibrantX protocol, connect the wallet and deposit by clicking “Supply”;
  • On this site of the Cellana protocol, purchase some CELL tokens;
  • Open the “Lock” tab and lock the previously purchased tokens by clicking “Create Lock”;
  • Go to the “Vote” tab and vote for one of the pools;
  • Fill out the form, wait for our assignments to be verified, and brand OAT.

[2] 🔔+300% for SHIB?

The prediction made by Xanrox is that Shiba Inu (SHIB) will likely increase in value later this year. Currently, the strategy is to capitalize on a temporary dip and then ride the subsequent upward trend. The analyst expresses strong bullish sentiment towards SHIB, mentioning a profit target that is 300% higher than the current value.

  • The right entry point is $0.0000212995.
  • The recommended level to accumulate SHIB is $0.00002249. 

*Any technical analysis, in the long run, cannot accurately predict the movement because now is a very tough market and the news can swing currencies in all directions.

[3] 🔔 Is Kakarot a potential gem in the Starknet ecosystem?

Kakarot zkEVM is a smart contract that allows EVM applications to run on top of CairoVM (specifically Starknet). Avrora on NEAR and Neon on Solana are arranged similarly. 

Kakarot will be the first general-purpose L3 on Starknet. Then already everyone will be able to run their zkEVM chaines on top of Cairo, using all the usual EVM networking toolkit

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