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Web3 Wallet team from the Binance cryptocurrency exchange has completed the integration of the Blast network.

According to the exchange’s announcement on March 4, Binance Web3 Wallet now supports Blast, an Ethereum Layer 2 scaling solution offering built-in yield for Ethereum (ETH) and stablecoins.

As part of the integration, crypto wallet users will be able to use the Binance Web3 Wallet to transfer tokens to and from the Blast network and access various decentralized applications on the network. To view and find Blast in Binance Web3 Wallet, you need to go to the Web3 Wallet section and select the Networks.

Binance did not provide other details of the initiative. The Blast project team also did not react to the news about the integration.

You might also like: EigenLayer’s TVL nears $6b, enters top 5 defi protocols

On Feb. 29, Blast developers announced the launch of the mainnet. Along with the launch, users could withdraw their funds previously blocked in the protocol. Over 180,000 users deposited more than $2.3 billion into the protocol during the early access phase, L2Beat reports.

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Bitcoin (BTC) has managed to reclaim a price point of $64,000, a mere 8% shy of its all-time high.

The leading digital currency has closed its "greenest" weekly candle ever, with a staggering $11,404 difference between its opening and closing prices on Bitstamp.

This rally has caught the attention of investors and analysts alike, prompting a closer examination of the factors driving this bullish momentum.

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Huge tokens have been dropping left and right so far in 2024, and gaming projects are getting in on the excitement. Tokens tied to games and networks have been among this year’s biggest launches as the broader crypto market rebounds and airdrops accelerate.

From Portal to Pixels, these are the gaming tokens that have made waves so far this year, ranked by peak market cap to date per CoinGecko, at the time of writing. But there are sure to be more big tokens ahead, as our gaming airdrops roundup suggests, so stay tuned—we’ll keep updating this list.

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A Nigerian lawmaker is accusing Binance of violating the law, according to a report by the Punch newspaper.

The Punch report quotes the chairman of Nigeria’s House of Representatives Committee on Financial Crimes, Ginger Onwusibe, saying that the country’s constitution empowers lawmakers to “protect Nigerians from financial crimes, especially by foreign companies.”

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Chinese state media are warning investors against investing in cryptocurrency amid the Bitcoin rally. The state-run Economic Daily noted on Sunday that investors should remain cautious about the risks associated with bitcoin and products whose value is tied to cryptocurrencies. The newspaper quoted Beijing-based lawyer Xiao Sa, who noted the recent approval of spot Bitcoin ETFs in the United States. The approval has lowered the entry barrier for foreign investors and increased trading activity in the market, he said.

He also emphasized that foreign Bitcoin ETF intermediaries cannot sell related financial products to Chinese citizens. In addition, residents of Mainland China are prohibited from directly purchasing relevant financial products using the instruments. The article also quoted Zhao Wei, a senior researcher at OKX, who highlighted other problems in the cryptocurrency market. These include increasing macroeconomic uncertainty, the presence of unforeseen industry events and unclear regulatory policies.

In September 2021, the Chinese government took a significant step to ban cryptocurrencies, involving 10 different agencies. They have declared various cryptocurrency-related activities illegal, classifying them as illegal financial activities. The move was aimed at restricting the use and trading of cryptocurrencies within the country. While the government has cracked down on these activities within the country, it has not outright banned individuals from possessing digital assets like Bitcoin or Ethereum.

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The cryptocurrency market is busy discussing the potential approval and implications of Ether ETFs. However, not all industry experts are optimistic about its immediate future. Eric Balchunas, a senior Bloomberg analyst, has expressed skepticism, comparing the excitement around Ether ETFs to an opening act trying to follow a headliner. This might indicate that the much-hyped Ethereum ETFs may not live up to the hype, especially when compared to spot Bitcoin ETFs. This sentiment casts a shadow of doubt over the potential impact of Ether ETFs on the cryptocurrency landscape.

Read more on U.Today https://u.today/top-analyst-downplays-ether-etfs?utm_source=cryptonewsalerts

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Recent news that Qatar is actively exploring Bitcoin investments first emerged last September 2023, when His Highness Tamim Bin Hamad, Emir of Qatar, arrived in El Salvador to talk about Bitcoin adoption.

There is no official confirmation that Qatar has adopted Bitcoin or made any BTC investments after this visit.

Bitcoin maximalist Max Keizer, who is also a close friend of El Salvador's President Nayib Bukele, is also known to be trying to get Qatar to accumulate BTC.

At this point, Max Keiser quotes the news dated September 2023 as saying “this is happening!” said. Scaramucci also shared the post in question, pointing out that Max Keizer's post was proof that Qatar bought BTC.

Experts point out that the most important issue in the relationship between Qatar and Bitcoin is what will happen to the BTC price when rich Middle Eastern countries such as Saudi Arabia and Qatar start accumulating Bitcoin with their oil money.

At this point, experts said that we could see a large amount of money flowing into Bitcoin as oil-rich countries such as Qatar and Saudi Arabia start accumulating BTC, which will push the price up.

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The last 24 hours saw ethereum’s (ETH) price swing from $3,411 to $3,537, encapsulating the volatile nature of the crypto market. A hefty trade volume of $20.02 billion and a market capitalization of $421.26 billion underline ether’s significant market presence on Monday.

Oscillators present a mixed picture; while the relative strength index (RSI) and Stochastic indicate neutrality, the commodity channel index (CCI) signals a bearish outlook, and momentum and moving average convergence divergence (MACD) levels suggest a bullish opportunity. Such divergence calls for cautious interpretation.

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Binance announced that it has added several new trading pairs to the Spot platform in order to enrich the trading options offered to its users and provide an improved trading experience.

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A comprehensive analysis of the weekly chart highlights Bitcoin’s remarkable upward trajectory, fueled by growing interest and optimism among market participants. The recent surge, propelled in part by the approval of spot Bitcoin ETFs, has seen the price surpass several critical resistance levels, edging closer to the pivotal all-time high of $69K.

Despite this upward momentum, the $69K mark looms as a significant resistance area characterized by a substantial supply overhang.

As participants seek to capitalize on profits, heightened selling pressure may emerge, potentially triggering a temporary market reversal. Should a retracement occur, Bitcoin’s primary target on the weekly chart would be the significant support zone around $48K, aligned with the 100-day moving average. Nonetheless, the broader outlook suggests Bitcoin is poised to extend its bullish trajectory, eyeing new all-time highs in 2024.

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After Bitcoin (BTC) reached its last all-time high of nearly $69,000, a significant portion of the market has increasingly viewed the $100,000 level as the next potential milestone for the maiden cryptocurrency.

With Bitcoin presently trading above the $60,000 support zone, discussions surrounding the $100,000 target have resurfaced, with some market participants projecting that this milestone could be achieved in 2024.

In this context, crypto trading analyst Gareth Soloway has identified a crucial catalyst that could propel Bitcoin to the targeted mark. During an interview with David Lin published on March 2, Soloway stressed the importance of monitoring market liquidity, suggesting that an increase might favor Bitcoin.

According to Soloway, investors should scrutinize liquidity “like a hawk,” highlighting the potential impact of systemic changes in liquidity on Bitcoin’s trajectory.

Soloway pointed to the Federal Reserve’s dilemma in managing monetary policy amid record-high markets and approximately 3% inflation. He emphasized that the Fed’s reluctance to cut rates aggressively could sustain high inflation, potentially bolstering Bitcoin’s upward trend.

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Bitcoin
BTC

tickers down
$65,183

starts a new week with bulls gunning for all-time highs as February’s BTC price transformation continues.

After a solid monthly close, the first weekly candle of March completed comfortably above $60,000.

As anticipation mounts of what might come next, sellers tacitly accept that there may be nothing in the way of Bitcoin heading into price discovery.

The scenario marks one of the most optimistic outcomes for 2024 and is considerably better than what many traders and analysts expected.

That said, plenty of volatility hurdles remain in place between now and the end of the month — and April’s block subsidy halving remains a pivotal moment in itself.

The action gets underway almost immediately with the United States Federal Reserve due to provide guidance on the state of the economy.

Should this offer no surprises for risk-asset traders, crypto already has enough to contend with — the exchange-traded funds (ETFs) may continue buying BTC. Still, the average investor is now acting out of “extreme greed.”

Can the market trajectory sustain its recent trend, or is a more substantial correction and consolidation period possible?

Cointelegraph looks at the current state of Bitcoin markets at what could become a watershed moment for the current BTC price cycle.

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Bitcoin (BTC), the leading cryptocurrency, continues its remarkable bullish run, surpassing the $65,000 mark on Monday and inching closer to its all-time high of $69,000. Simultaneously, BTC has achieved a significant milestone against the Euro as economic concerns escalate across Europe.

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In a recent post on X, Moreno shared how Bitcoin inflows into accumulation addresses increased significantly during the recent Bitcoin rally. However, he also noted that BTC rose so quickly that some indicators began signaling an overheating phase. One such indicator is the Bitcoin bull-bear market cycle indicator, which indicated an overheating phase when BTC reached $60,000.

Moreno’s post further explained that the last time the Bitcoin bull-bear market indicator signaled an overheating phase was in December of last year. The signal followed an 83% rally by the flagship crypto, after which BTC entered into consolidation.

Moreover, Moreno considered the Bitcoin miners’ reward situation. According to him, given the current Bitcoin market conditions, the Bitcoin miners are overpaid, suggesting that Bitcoin has entered an overheating phase. Similarly, the miners’ reward spiked in December 2023, when BTC rallied significantly.

In addition to the signals from the previous three indicators identified by Moreno, the Cryptoquant Head of Research also observed extremely high levels of traders’ unrealized profit. At 45%, Moreno believes this is an indication that BTC traders could result in a profit-taking process by selling their Bitcoins.

At the time of writing, Bitcoin traded for $61,942, marking a fourth consecutive day of sideways movement after reaching a season-high of $64,000, according to data from TradingView. This sideways movement is a price consolidation, suggesting the actualization of Moreno’s observations. Nevertheless, the pioneer crypto’s upside momentum remains intact, and users anticipate higher levels as the current bull cycle evolves.

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El Salvador President Nayib Bukele has continued to taunt international mainstream media in hopes of getting acknowledgment for the country’s Bitcoin (BTC) gains.

Under Nayib Bukele, El Salvador became the first country in the world to officially recognize Bitcoin as a legal tender on September 7, 2021. The move at the time was followed by Bitcoin purchases that triggered backlash from various international organizations, including the World Bank.

Besides bodies like the World Bank and International Monetary Fund, international mainstream media has always been critical of El Salvador’s move, a trend that has slowed following the visible profitability.

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The Enforcement Directorate (ED) has taken a significant step in its ongoing investigation into a cryptocurrency scam by filing a charge sheet against 299 entities, including individuals of Chinese origin, under the anti-money laundering law.

The charge sheet comes in the wake of allegations of investor duping under the guise of cryptocurrency mining, including Bitcoin. This development was officially announced following the special court in Dimapur, Nagaland’s acknowledgment of the prosecution complaint under the Prevention of Money Laundering Act (PMLA).

According to a report from a local publication, the charge sheet includes 76 entities under the control of Chinese nationals, featuring 10 directors of Chinese descent, along with two entities managed by nationals from other countries. This action by the ED is rooted in a First Information Report (FIR) by the Cyber Crimes Unit of Kohima Police, which implicated various individuals in a scheme promising substantial returns through cryptocurrency mining. The Kohima Police revealed that the scammers used a mobile application dubbed “HPZ Token” to defraud investors.

Further investigations revealed the establishment of bank accounts and merchant IDs by “shell entities” with “dummy” directors intended for the “layering” of criminally obtained funds. These funds, according to the ED, were garnered through illicit online gaming, betting, and investments in Bitcoin mining, deceiving investors with the promise of high returns.

You might also like: Indian engineer loses $114K to crypto investment scam

Specifically, an investment of INR 57,000 (approx. $688) was purported to yield daily returns of INR 4,000 (approx. $48.27) over three months, a promise unfulfilled after the initial payment. The ED’s nationwide search has led to the seizure of assets and deposits valued at INR 455 crore, approximately USD 546 million, the report added.

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The Philippines National Telecommunications Commission (NTC) has started blocking websites of crypto companies offering investment products in the country without the necessary licenses.

On March 7, local media outlet Bitpinas reported that the websites of crypto firms MiTrade and OctaFX were now inaccessible through one of the country’s largest internet providers. The NTC issued an order on Feb. 21 to internet service providers, requiring them to block applications and websites of MiTrade for violating regulations enforced by the Securities and Exchange Commission (SEC) of the Philippines.

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According to the Managing Director of Bitget Exchange, Gracy Chen, the surge in Bitcoin price after the recent 16.9% correction is attributed to “steadfast optimism and confidence in BTC”. Chen added, “Based on historical experience, rapid pullbacks often occur during sharp uptrends, constituting a common phenomenon of market deleveraging.”

While Chen ascribes the surge to investor optimism, a report from an economist with Deutsche Bank has detailed five reasons why BTC is trading at a record high and why the rally may not be over yet. Highlights include the BTC exchange-traded funds (ETFs), the halving event, industry regulation and macroeconomic details such as interest rates.

Popular belief is that the BTC halving will kick-start the next bull cycle. Ahead of that, the ETF narrative continues to drive markets with reports indicating that these investment products are continually scooping up hundreds of millions of dollars in BTC daily. For instance, ETF specialist Eric Balchunas recently reported that BlackRock’s IBIT ETF took in a record-smashing $788 million on March 5.

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Veteran trader Peter Brandt, known for his technical analysis expertise, has reignited optimism in the bitcoin market with his bullish outlook. Following his recent headline-making adjustment of the bitcoin price target for “the current bull market cycle” from $120,000 to $200,000, Brandt has now shared another chart that indicates the start of a bitcoin bull market.

Referencing his bitcoin price chart below, Brandt wrote on X Friday:

Should note that huge monthly bars are usually ‘starting’ or ‘take-off’ candles or ‘ending’ or ‘blow-off’ candles. My bet is that this is a ‘starting’ candle. Note the bars in late 2020 … Oct 2021 was blow off candle for example.

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Alexander Leishman, the co-founder and CEO of River Financial, is a prominent figure in the cryptocurrency landscape, particularly known for his contributions to making Bitcoin more accessible and understandable to investors.

River Financial, under Leishman’s leadership, operates as a Bitcoin-centric financial institution, offering brokerage services that enable users to buy, sell, and securely hold Bitcoin. The firm distinguishes itself by focusing solely on Bitcoin, emphasizing security, regulatory compliance, and a seamless user experience aimed at long-term investors.

On March 2, Leishman explained on social media platform X, why over half of River Financial’s treasury is held in Bitcoin. This strategic decision is significant for several reasons, each underlining the firm’s confidence in Bitcoin’s future and its commitment to aligning its financial health with the cryptocurrency’s growth trajectory.

Firstly, allocating a substantial portion of the company’s treasury to Bitcoin is seen as a way to amplify River’s resources for product development. As Bitcoin’s value grows, so does the potential funding available for innovation and expansion, allowing River to invest in new products and services that further enhance its offerings. This approach not only capitalizes on Bitcoin’s growth potential but also aligns River’s product development with the interests and needs of its user base.

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