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🗣SEC to License Cryptocurrency Firms in Nigeria
The Securities Exchange Commission (SEC) plans to license virtual asset providers, including cryptocurrency firms, to capitalize on growing adoption and protect investors in Nigeria. SEC’s Director-General, Emomotimi Agama, stated that the first licenses for digital services and tokenized assets will be issued this month. This move follows the Central Bank of Nigeria’s recent lifting of the ban on cryptocurrency transactions.
🗣Ethereum Transaction Fees Drop Below 1 Gwei ($0.05) — The Lowest Since 2019
These figures often signal the end of a bear market, reflecting a point of total disappointment when traders lose interest in market activities.
With this trend, the term “altseason” might soon take on a whole new meaning.
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🗣Yesterday’s sell-off matched the FTX crash in terms of BTC sold at a loss. However, according to traders, the worst is over, and it’s time to start drawing charts with a reversal to $156k 🤑
Bitcoin ETFs saw an expected sell-off of $168 million yesterday, while ETH ETFs surprised with an inflow of $48.7 million (the best result since the start of trading, excluding the first day) 🤑
The Japanese stock index Nikkei 225, which started yesterday’s crash, recovered by 10% today. We are waiting to see how the S&P 500 will open. For now, the mood is positive as the media has paused the FUD about a U.S. recession.
🧪 Top-3 for the last 24 hours: Brett - $0.09198 (↑30.92%) Bittensor - $254 (↑26.65%) Ondo - $0.7134 (↑26.00%)
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US Congress Resolution to Recognize Tigran Gambaryan as a Hostage.
Representative Rich McCormick has introduced a resolution urging the US Congress to officially declare Binance executive Tigran Gambaryan a hostage if his criminal case in Nigeria is not resolved by the end of the month.
McCormick asserts that since February, Nigeria has wrongfully detained Gambaryan to pressure and extort money from Binance. He calls for urgent US government intervention to secure Gambaryan's release and ensure he receives necessary medical care.
Within a week, spot Bitcoin ETFs have purchased BTC worth over $1 billion.
Analysts indicate that American ETFs absorbed part of the BTC sales from Germany.
Bitcoin Miners Capitulate
According to a report by experts from CryptoQuant, Bitcoin miners have started shutting down inefficient equipment. Analysts say miners are selling off their reserves, which is a sign of their capitulation in the market.
CryptoQuant highlighted that the daily profit for Bitcoin miners has decreased from $79 million as of March 6, 2024, to $29 million. The share of fees in revenue has fallen to 3.2%, the lowest since April 8, 2024, although before the halving, the hype around the Runes protocol was bringing miners tens of millions of dollars.
Polkadot (DOT)
Polkadot’s DOT has surged 12% this week, currently trading at approximately $6.30. Industry experts predict continued growth and possible volatility, with prices expected to range between $6.70 and $22.
Analysts like Rekt Fencer and Crypto Tony believe DOT could hit new highs, potentially reaching up to $60, provided it remains above key support levels and breaks through resistance zones.
