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Crypto News Today, 15 March: Market Correction or Panic Mode

15-Mar-2024 By: Lokesh Gupta
Crypto News Today, 1

Cryptocurrency values have declined in the last 24 hours

TOP 5 Losers Coins

IndicesLTPChange (%)
Bitcoin SV$89.3821.21%

Crypto News Key Highlights:

  • South Africa's FSCA grants operational licences to 60 crypto platforms, marking a proactive step in regulating the expanding crypto ecosystem. Led by Commissioner Unathi Kamlana, the approach aims to formalise exchanges, address risks, and provide legal protections for users under existing laws. The move reflects a commitment to balancing innovation with investor safeguards.

  • Recently, bankrupt exchanges FTX and Alameda made significant Ethereum (ETH) transfers to Coinbase before a market slump, sparking speculation. Spotonchain revealed repeated ETH moves prior to dips, totaling 6,500 ETH worth $24.57 million. These dumps, alongside other asset transfers, raise questions about creditor repayment and their impact on ETH prices amid market uncertainty.

  • A cyber breach at NFPrompt rattles the crypto community, prompting FBI intervention. Hackers compromised wallets, including NFP's, accessing user funds. NFPrompt swiftly responded, transferring smart contracts and partnering with security firms. Precautionary measures urge users to transact via reputable exchanges and avoid unofficial channels.

  • Binance Labs, previously a part of Binance, has become an independent entity, distancing itself from the exchange amid regulatory challenges. The move follows CEO changes and legal battles with the SEC. Binance Labs now operates independently, with separate contracts and systems from Binance, focusing on project investments, akin to BNB Chain's setup.

  • Senators urge the SEC to halt approval of non-Bitcoin ETPs, including Ethereum, amid spot Bitcoin ETF success. Coinbase's Paul Grewal rebuts claims, showcasing Ethereum's robust market metrics. Despite optimism, skepticism surrounds Ethereum ETFs, although VanEck suggests they could surpass Bitcoin's due to ETH's staking benefits.

  • Solana's SOL cryptocurrency bucks the market trend, surging amid broader crypto declines. Analysts credit Binance's integration with Solana Network for the rally. The move enhances user access to Solana-based dApps, reinforcing its utility and market position. Solana also gains traction with the introduction of the BILS stablecoin.

  • A survey of 1,000 voters showed 48% of crypto owners favor the former president, while 39% support President Biden. The poll reflects broader voter sentiment, with 45% favoring Trump and 42% backing Biden overall. Many voters distrust both parties on crypto issues, with Republicans more engaged on central bank digital currencies.

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 market Slumps Following U.S. PPI and Retail Sales

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