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Crypto News: Market Soars Ahead of Crucial U.S. Data Release

28-Mar-2024 By: Lokesh Gupta
Crypto News: Market

Crypto surged with increasing momentum in the past 24 hours

TOP 5 Gainers Coins

IndicesLTPChange (%)
Dogecoin$0.220317.70%
GateToken$10.2317.02%
Bitcoin Cash$57416.35%
Bitcoin SV$93.776.45%
PancakeSwap$4.675.88%

Crypto News Key Highlights:

  • This Friday, Deribit will witness a significant Bitcoin and Ether options expiry event, totaling $15.2 billion. Around $9.5 billion in Bitcoin options and $5.7 billion in Ether options will expire. With 40% of Bitcoin options expiring in-the-money, it's expected to heighten market volatility, potentially causing upward pressure before settling at a maximum pain point of $50,000 for Bitcoin.

  • The cryptocurrency community awaits the potential 30-year sentencing of FTX founder Sam Bankman-Fried amid the exchange's collapse. Expert predictions suggest severe repercussions, with billions in customer liabilities. Testimonies from affected users shape the sentencing decision. As Judge Kaplan deliberates, the gravity of financial crimes in crypto is underscored, promising accountability and transparency in the industry's future.

  • HKbitEX, a Hong Kong-based virtual asset trading platform, received regulatory approval from the Securities and Futures Commission for Type 1 and Type 7 trading activities. Its parent company, Taiji Capital, also secured a full virtual asset license, marking a major advancement in the crypto sector. Sister company Pioneer Asset Management achieved milestones in virtual asset portfolios and tokenized retail property funds, further establishing Taiji Capital as an STO leader.

  • The U.S. SEC secured partial victory in the Coinbase case, impacting aspects like wallet and staking services. Leveraging this, the SEC aims to strengthen its position against Binance and others. Judge Failla's rulings categorized certain activities as unregistered securities. Both cases highlight ongoing efforts to define cryptocurrencies as securities, with disputes nearing resolution in the Binance lawsuit.

  • Google's recent integration of Bitcoin data into its search engine marks a notable advancement in cryptocurrency accessibility. This addition provides users with real-time information on Bitcoin's price, market trends, and news articles, streamlining the process for investors and enthusiasts to stay informed. Additionally, Google's integration with Ethereum Name Service enhances visibility for Ethereum users, further supporting the cryptocurrency ecosystem.

  • Prisma Finance suffered a $10 million cryptocurrency exploit on March 28, detected by on-chain security provider Cyvers. The attack, linked to @FixedFloat, led to initial losses of $9 million, with an additional $1 million in fraudulent transactions later identified. Prisma Finance has paused its protocol for investigation.

  • Fetch.ai, Ocean Protocol, and SingularityNET unite to form "Artificial Superintelligence" (ASI), marking a milestone in AI token evolution. Surge in FET, AGIX, and OCEAN values post-announcement. Sector valuation nears $30 billion, with a 20% surge. Dr. Ben Goertzel, Humayun Sheikh, and Trent McConaghy lead visionary initiative for AI-powered cryptocurrency.

Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. #Cryptocurrency and #NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.

Also read - Crypto News March 27: Market Awaits U.S. Data Ripple Effect

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