Monday Crypto Industry Update: Feb 24 - Mar 2

📊Market Highlights

- Bitcoin is down 3.87% over the last 7 days, currently at $92,220
- Ethereum is sitting at $2,378 with a 12.76% decrease from the previous week
- Last week’s top 3 gainers were IP (+64%), ADA (+35%), and HBAR (+23%), while the top 3 losers were S (-21%), RAY (-20%), and TAO (-19%)
- The crypto market’s Fear & Greed Index is at 39 Fear today
- Crypto market capitalization at $3.03 trillion, up 6.47% since yesterday
- Stablecoins market capitalization is down 0.79% in the last 7 days, currently at $224 billion, with USDT dominance at 63%
- NFT sales volume decreased by 3.4% over the previous 7 days while total sales decreased by 22% with 231,446 sales
- Bitcoin market cap dominance is currently at 60.1%, Ethereum at 9.5%, and other cryptocurrencies at 30.4%

🌐Blockchain Tech & Gaming

- Worldcoin (now World) competitor Billions Network launched its non-biometric digital ID platform based on Circom, a zero-knowledge verification technology, which has been already tested by Deutsche Bank and HSBC
- Layer-2 network Base has implemented Flashblocks tech to cut block times down to 0.2 seconds, mainnet to launch in Q2
- MetaMask to expand from EVM chains by adding support for Solana network in Q2 and Bitcoin Q3
- Bitcoin mining company MARA Holdings saw record earnings in Q4 2024, shares plans to become the base layer of infrastructure that powers AI and computing applications
- Popular Avalanche shooter game Off the Grid released a major update with new region, first street event and more
- Strive Asset Management suggests GameStop to become premier Bitcoin treasury company in the gaming sector by converting $5M from cash reserves into $BTC

📃Regulatory Updates

- President Trump announces U.S. Crypto Reserve will include $BTC, $ETH, SOL, XRP, and ADA
- SEC drops investigation into Coinbase, Uniswap Labs, Consensys, and Robinhood
- US judge dismisses lawsuit against Hex founder Richard Heart
- SEC delays deadline for decision on Cboe Exchange’s Ether ETF options
- UK sentenced an illegal crypto ATM operator, GidiPlus Ltd, to 4 years in prison
- Gambling company DraftKings to pay $10 million settlement to a group of NFT buyers that accused the company of selling unregistered securities
- SEC states that memecoins aren’t securities, but fraud will still be monitored

💰Investments & Partnerships

- Dubai’s Damac Properties and Mantra protocol share their $1 billion plan to tokenize real estate and impact global property investment
- Hong Kong invests $125 million via Cyberport hub in AI and web3 research to support blockchain development and AI research
- Dubai-based VC firm Disrupt will invest $100M in AI startups
- Investment manager Sixth Street invested $200M in Figure Technology Solutions, a US-based blockchain lender

🛡️Crypto Security

- Crypto scams and exploits amounted to $1.53 billion in February, of which $1.4 was ByBit hack
- The main category for losses in February was wallet compromises, according to security firm CertiK
- Stablecoin payment firm Infini suffers $50 million exploit
- Scammers use fake crypto job offers, a fake firm, and a malicious meeting app to steal info and drain crypto wallets

🗞️Miscellaneous

- Bitcoin active addresses are reaching a 3-month high, signaling a possible market bottom and reversal according to analysts
- Crypto trading platform BitMEX is seeking a buyer
- Boerse Stuttgart Digital enables crypto trading for DekaBank
- President Trump will host White House Crypto Summit March 7th
- Crypto trader makes $6.8M profit after timing the Trump reserve announcement perfectly
- DTTM Operations (Trump-owned company) filed trademarks for metaverse and NFT marketplace

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Have a successful week ahead! 🤝
- Swapin Team