Crypto market rises almost 4%: Bitcoin (BTC) at $66,841, Ethereum (ETH) at $3,697

Crypto market rises almost 4%: Bitcoin (BTC) at $66,841, Ethereum (ETH) at $3,697

:

The crypto market recorded a growth of almost 4% in the last 24 hours. The total market capitalization is currently $2.623 trillion, according to CoinGecko. Most cryptocurrencies in the top 100 by market capitalization gained in the last 24 hours, including Bitcoin and Ethereum. While Bitcoin hits its highest level in two years with a price increase of 2.7% to $66,841, it is expected that it could surpass $80,000 in the near future.

The US Securities and Exchange Commission (SEC) has postponed the decision on the approval of the BlackRock Spot Ethereum Exchange Traded Fund (ETF). However, US Bitcoin ETFs continued to see large inflows in February. According to CCData, total deposits were $6.03 billion. This increase in deposits coincides with a decline in Grayscale's outflows, which hit a record low of $22.4 million on February 26. Trading volume also increased by 14.85% in February to an average of $1.86 billion per day.

Justin Banon, the founder of decentralized trading protocol Boson Protocol, has announced the development of a new protocol called Fermion. Fermion aims to enable on-chain trading of high-value physical assets while ensuring transparency and security. Tokenization of assets occurs from the moment of sale, with the seller paid after verification. The Fermion token serves as the core currency of the Fermion ecosystem and enables transparent and fair governance.

Bitdeer Technologies Group has successfully tested the SEAL01 chip, the company's first Bitcoin mining chip. The chip features high energy efficiency of 18.1 J/TH and is designed for integration into Bitdeer's new SEALMINER A1 mining machines. The company emphasizes the importance of efficient technology, lower operating costs and reduced environmental impact for the future of Bitcoin mining.

Why is the crypto market down today?

According to the press release, the crypto market has grown by almost 4% in the last 24 hours. The total market capitalization is currently $2.623 trillion. The majority of the top 100 cryptocurrencies by market capitalization have gained during this period. Within the top ten, however, three coins have fallen in price: BNB by 0.7%, Solana (SOL) by 1.2% and Cardano (ADA) by 3.8%. The best-performing coin is Dogecoin (DOGE), which rose 7% to $0.1805.

US Bitcoin ETF deposits maintain momentum in February

In February, US spot Bitcoin ETFs saw an increase in deposits. According to a market report from CCData, deposits total $6.03 billion as of February 26. This increase in deposits coincides with a decline in Grayscale's outflows to a record low of $22.4 million. Trading volume also increased by 14.85% in February to an average of $1.86 billion per day. BlackRock’s iShares and Fidelity’s FBTC ETFs are among the top 10 ETFs with the highest deposits.

Boson founder launches new protocol Fermion

Justin Banon, the founder of decentralized trading protocol Boson Protocol, has announced the launch of a new protocol called Fermion. Fermion enables trading of high-value physical assets such as watches, fine wine and works of art via the blockchain. The protocol tokenizes assets from the time of sale and allows for secure custody by a custodian. The seller gets paid after verification, making the process capital efficient. Fermion supports tokenization through the ERC-404 fractional NFT standard and addresses the requirements for higher verification standards, improved capital efficiency and longer tokenization duration of physical assets.

Bitdeer announces new 4nm Bitcoin mining chip SEAL01

Bitdeer Technologies Group has announced the successful testing of its first Bitcoin mining chip, the SEAL01. The chip is characterized by a high energy efficiency of 18.1 J/TH and is intended for integration into Bitdeer's new SEALMINER A1 mining machines. The company emphasizes the importance of efficient and sustainable technology for the future of Bitcoin mining. The SEAL01 chip was developed in collaboration with a world-leading semiconductor factory using 4nm process technology.

Tabel: