BITCOIN

During the last 12 months the stablecoin economy has grown massive and the current valuation today is only $13 billion away from tapping the $200 billion mark. This month, the two biggest gainers in terms of 30-day issuance include Terra’s UST jumping 29.9% and Neutrino Protocol’s USDN spiking 43.8%. Stablecoin Market Capitalization Continues to Swell, Tether Crosses $80 Billion Monthly statistics show the largest stablecoin in terms of market capitalization, tether (USDT) , increased by 2% this month as the valuation crossed the $80 billion mark. USDT is massive compared to the rest of the stablecoins in the crypto economy as its valuation represents 42.78% of the $187 billion stablecoin economy today. Furthermore, tether’s $80 billion market capitalization equates to 4.46% of the entire $1.83 trillion crypto economy. The second-largest stablecoin in terms of market capitalization, usd coin (USDC) only increased by 0.3% this past month. USDC has a market valuation of around $5...

Forget the rumor mill, we’re here for the mint mill. South By Southwest (SXSW) is the latest festival to be host to an abundance of NFTs. Disney and Dapper Labs found themselves in the same sentence with rumors floating left and right over the weekend, and an announcement that followed today. And in other news, Solana-based marketplace Magic Eden closed a Series A funding round, collecting $27M in the process. It’s a few of the biggest stories in NFTs from Monday, March 14. Let’s dive in. The Nightly Mint Latest Mint: SXSW Flooded With NFTs South By Southwest (SXSW) started nearly 40 years ago, and what started as a festival celebrating music, film, and media has evolved to ingrain much more verticals of broader ‘culture.’ It’s hard to think of a word more mentioned in a sentence with ‘culture’ over the past year than NFTs, and NFTs have managed to make a splash at SXSW in recent days. Doodles were ever-present, and even traditional brands were releasing NFTs at the festival this ye...

Ethereum extended decline below the $2,525 support zone against the US Dollar. ETH price remained bid near $2,500 and currently attempting an upside break. Ethereum is still struggling to clear the $2,600 and $2,625 resistance levels. The price is now trading below $2,600 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $2,580 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh decline if it fails to clear $2,625. Ethereum Price Faces Hurdles Ethereum started a fresh decline from well the $2,625 zone. ETH traded below the $2,550 and $2,525 support levels to move into the red zone. The price even spiked below $2,500 and settled below the 100 hourly simple moving average. Ether price traded as low as $2,486 and recently recovered sharply. There was a clear move above the $2,525 and $2,550 resistance levels. The bulls pumped the price above the 50% Fib retracement level of the recent decline f...

Changes to the EU’s MiCA proposal to regulate crypto markets, suggested shortly before a vote on the package, indicate a bitcoin ban is still a possibility. Despite recently removing wording that would have prohibited coins with energy-intensive mining, some members of the European Parliament are now targeting “unsustainable” cryptocurrencies. New MiCA Paragraphs Call for Subjecting Cryptocurrencies to ‘Sustainability Standards’ A text banning the offering of services for cryptocurrencies relying on the proof-of-work (PoW) mining method was recently deleted from Europe’s Markets in Crypto Assets ( MiCA ) draft legislation. The controversial provision had sparked negative reactions from the crypto industry and community. However, attempts to effectively ban cryptocurrencies like bitcoin in the EU have continued. Amendments to MiCA proposed on Friday, days before the Committee on Economic and Monetary Affairs (ECON) votes on the package, aim to restrict cryptos classified as “unsust...