Crypto News Today, 09 March: Floki and Worldcoin lead rally

Crypto currencies prices have soared in the recent 24 hours

TOP 5 Gainers Coins

Crypto News Key Highlights:

• Amidst ongoing debates, journalist Alan Kohler challenges traditional views on Bitcoin. He dismisses predictions of its downfall, citing its resilience during the 2022 crash. Kohler views Bitcoin as a transformative asset, self-regulating and poised for further growth, defying skeptics and highlighting its enduring relevance in the financial ecosystem.

• Ethereum's Layer 2 scaling solutions have surpassed $37 billion TVL, marking a pivotal moment in blockchain. Platforms like Arbitrum, Optimism, and Base lead innovation, reflecting Ethereum's dominance. TVL growth aligns with Ethereum's price surge, reinforcing its position as a DeFi cornerstone. Ethereum's Layer 2 ecosystem outpaces rivals, offering scalability and efficiency.

• SEC has authority over spot Ethereum ETF proposals, citing correlation concerns without directly addressing Ether's security status, leading to ongoing uncertainty. Tension exists with CFTC's classification of Ether as a commodity. SEC Chairman Gensler's avoidance of Ether ETF discussions adds to regulatory ambiguity, leaving industry observers speculating on future decisions.

• Worldcoin hits all-time high , surging 46% to over $10 amidst OpenAI board member additions by co-founder Sam Altman. Recent developments, including Spain's roadblock, impact Worldcoin's performance. Altman's transparency and legal actions signal resilience, fostering investor optimism despite regulatory challenges.

• The iShares Bitcoin Trust (IBIT) by BlackRock has outpaced MicroStrategy's Bitcoin holdings thanks to a $2.07 billion net inflow, accumulating over 196,000 BTC. Spot Bitcoin ETFs witness substantial weekly inflows, soaring to $2.23 billion. Fidelity and BlackRock lead the surge on Monday, each amassing over $400 million, while Grayscale Bitcoin Trust (GBTC) sees outflows totaling $368 million.

• In 2023, cryptocurrency-related investment fraud in the U.S. surged, comprising the largest portion of investment losses at $3.94 billion, a 53% increase from the previous year. Romance scams and phishing schemes contributed significantly to the rise, mirroring global trends in crypto-related fraud. Similar increases were observed in Australia, emphasizing the international scope of the issue.

• BNB surged 62% in 30 days, hitting a 2-year high at $494 today, becoming the third-largest cryptocurrency by market cap. Despite doubts stemming from Binance's legal issues, BNB's future stabilized after CZ's plea deal and Binance's settlement with the CFTC. Recent outages on exchanges like Coinbase fueled criticism, contrasting Binance's resilient trading platform. BNB's rally is supported by its robust trading engine and increased DApp volume on the BNB Chain, despite a decrease in total value locked.

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Also read - Crypto News, 08 March: Bitcoin Reaches $70K, ETH Hits $4K