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• Cardano whale activity has increased significantly in recent weeks, with weekly transactions reaching a six-month high.
• ADA whales have collectively moved over 30 billion ADA, worth around $10 billion at current prices.
• The price of ADA is currently holding steady above the 100-day simple moving average.

Cardano Whale Activity on the Rise

Cardano whale activity has seen an uptick despite a slight pullback in price. The network remains one of the top competitors for leading smart contract networks and has drawn attention from large investors who have increased their activity on the blockchain significantly.

Recent Transaction Data

Transaction data shows that whale transactions higher than $100,000 were much higher in the last week. They collectively moved around 30 billion ADA, which is worth over $10 billion at current prices, a significant increase from the prior week. This activity was last seen back in August 2022 when the price of ADA had rallied to a local peak of$0.57.

ADA Price Outlook

Despite some sluggish movement over the last week, the price of ADA is still maintaining its position above the 100-day simple moving average. With whale activity ramping up, it could lead to more demand for the asset and potentially drive its price further up towards $0.5 resistance level before running out of steam. However, there is significant resistance just above $0.35 and support resting at $0.32 which could cause it to crash if not supported by other factors such as an uptrend or positive market sentiment..

Bull Market Favorable For Cardano?

With crypto markets returning into what looks like another bull run, Cardano whales are taking advantage of this opportunity by increasing their transaction volumes and buying larger amounts of ADA tokens than before – something that usually leads to positive price trends for digital assets such as Cardano’s native token (ADA).

Conclusion

Overall, cardano’s performance in recent weeks has been quite favorable when compared to other altcoins and cryptocurrencies in general due to increased whale activity and rising transaction volumes which suggest more confidence from large investors – something that could lead to further bullish momentum for this digital asset if it can maintain stability above certain key levels going forward

• Circle disclosed that around $3.3 billion of its USDC reserves remain at Silicon Valley Bank after the lender’s share price dropped precipitously.
• The second-largest collapse of a US financial institution in history triggered the capital crisis and caused Silicon Valley Bank to be shuttered by California banking regulators.
• Regulators created a new bank, the National Bank of Santa Clara, which will hold all of SVB’s assets and has set up a new bank to address the issue.

What Happened to Silicon Valley Bank?

Silicon Valley Bank (SVB) crumbled on Friday morning, sending shockwaves through the cryptocurrency and global markets, 48 hours after a capital crisis triggered the second-largest collapse of a US financial institution in history. With around $209 billion in assets at the end of 2022, Santa Clara-based SVB was listed as the sixteenth largest bank in the United States.

Circle Discloses USDC Reserves Remain At SVB

Stablecoin issuer Circle disclosed late Friday that around $3.3 billion of its $40 billion USDC reserves remained at Silicon Valley Bank. This comes after the high-tech lender’s share price dropped precipitously in response to a run on deposits by nervous consumers. With a total supply of $43.5 billion, all of which is backed by government bonds and cash equivalents, USDC is the second largest stablecoin in circulation according to data from CoinMarketCap. In an effort to provide clarity on the problem, Circle reported through Twitter that: “$3.3 billion of ~$40 billion USDC reserves remain at SVB”.

USDC Depegs From USD After SVB Collapse

USDC’s market capitalization decreased to $42.4 billion on Friday and de-pegged from $1 due to concerns over existing reserves following SVB’s collapse and closure by California banking regulators who have setup a new bank – The National Bank Of Santa Clara – which will hold all of SVB’s assets..

Regulators Shut Down Silicon Valley Bank

A press statement from Federal Deposit Insurance Corporation (FDIC) shows that regulators have closed down Silicon Valley Bank as they are now in charge if it’s deposits .

Conclusion

It remains uncertain how long it will take for normalcy to resume with regards to Circle’s operations but what we can be certain about is that this event has highlighted just how fragile traditional banking systems are compared with cryptocurrency solutions such as stablecoins like USDC which offer more secure measures for protecting investor funds..

• Binance’s CEO Changpeng Zhao has confirmed that the acquisition of Voyager Digital by BinanceUS is still on.
• A US bankruptcy judge criticized the SEC for attempting to block the sale of Voyager Digital to Binance US.
• The SEC believes that this deal should be halted because it would allegedly constitute an illegal transaction under current regulations.

Binance and Voyager Deal

The Securities and Exchange Commission (SEC) has objected to BinanceUS’s attempt to acquire cryptocurrency lender Voyager Digital, leading to speculation in the crypto community that Binance had called off the deal. However, Binance’s CEO Changpeng Zhao has reassured users in a Twitter post that the deal is still on and will help return funds to users as soon as possible.

SEC Criticized

According to a March 2 Reuters report, a U.S. bankruptcy judge has criticized the SEC for attempting to block the potential sale of crypto brokerage firm Voyager Digital to Binance.US. Judge Michael Wiles from the Southern District Bankruptcy Court in New York stated that the SEC had essentially asked to “stop everyone in their tracks”. He added that the regulator’s conviction that “everything other than Bitcoin” is a security is still standing, negatively impacting the industry.

Will It Be Completed?

Judge Michael Wiles appeared skeptical of the SEC’s attempt at blocking a potential purchase of defunct crypto lender Voyager Digital by Binance subsidiary BinanceU.S during a court hearing on Thursday. The SEC argued that there were no safeguards in place which could ensure customer assets are not transferred off from platform but CZ denies all rumors around this deal being called off . A spokesperson told Reuters that they would work with relevant parties if requested information was provided by them .

Implications Of The Deal On Crypto Industry

The alleged “sale of securities” has recently impacted companies such as Kraken, which was forced to shut down its staking services in jurisdictions where SEC operates due its recent approach towards crypto industry regulations . If completed , this deal between Biance and voyager can set an example for other exchanges , lending platforms and crypto related businesses operating within United States .

Conclusion

It remains to be seen whether or not these two companies will be able finalize this acquisition amidst all allegations put forward by Securities and Exchange Commission against it . But one thing is certain , if done correctly it could open up new avenues for cryptocurrency related businesses operating within United states while setting standards regarding customer asset protection across entire industry .

• Coinbase has recently launched a testnet for their newest product “Base”, an Ethereum layer 2 network.
• Base is an open source platform for developers and provides easy and secure access to Ethereum L1 and L2 and other ecosystems such as Solana.
• Layer 2 protocols aim to solve the transaction speed and scalability issues affecting blockchains.

Coinbase Launches Testnet for New Product: Base

Coinbase, the second largest crypto exchange, has recently launched a testnet for their newest product “Base,” an Ethereum layer 2 (L2) network. The new product will provide a secure and cost-effective solution for building decentralized applications (dApps) on-chain, per the official announcement.

What Is Coinbase’s Base And How Does Crypto Benefits?

Base is an open source for developers powered by Optimism, an Ethereum-based L2 network supporting the OP Stack, a modular, open-source platform for scalable blockchain interoperability. This open-source protocol allows developers to build blockchains to meet specific user needs efficiently. According to the exchange, Base is designed to provide easy and secure access to Ethereum L1 and L2 and other ecosystems such as Solana. Layer 2 refers to a secondary framework or protocol built on an existing blockchain. These protocols aim to solve the transaction speed and scalability issues affecting blockchains. In addition, Base is built with the security and scalability to develop dApps.

Why Was Base Developed?

The proposal from crypto exchange Coinbase is to make on-chain the “next online,” bringing millions of users into the crypto economy. Base will serve as a home for Coinbase’s on-chain products and an open ecosystem where anyone can build and develop new technologies, according to the exchange. The company added that they are incubating Base inside of Coinbase leveraging their decade of experience building crypto products with plans of progressively decentralizing over time without issuing any new network token in place..

Benefits Of Using The Platform

With the underlying security of Ethereum along with Coinbase’s practices users can access Base from Coinbase etherum Layer 1 other interoperable chains it also offers fraction of cost of Etherums EVM securely built multi chain applications with easy bridges .

Conclusion

In conclusion , Coinbases base provides wide range opportunities in terms develpoers looking dive into Decentralized applications oon chain as well as providing cost effective solutions scaling blockchains without compromising security .

• US regulators have taken enforcement actions on some crypto firms, such as Kraken and Paxos.
• Rumors of the SEC giving out a Wells notice to Circle, the issuer of USDC, have been circulating.
• Dante Dispaerte, the Chief Strategy Officer and Head of Global Policy at CirclePay has denied these rumors.

Regulatory Tension in Crypto Industry

The crypto community is still reeling with fear, doubt, and uncertainty (FUD) from the latest regulatory tension in the industry since U.S. regulators have taken enforcement actions on some crypto firms. Firstly, the Securities and Exchange Commission struck Kraken with a fine and halted its staking program. Also, the NYDFS and SEC have been on Paxos, the issuer of Binance USD stablecoin.

Rumors Against Stablecoins

Rumors have been flowing about the possible enforcement action on other stablecoins and their issuers. Some fingers pointed at USDC as the SEC’s latest target. But the issuer of the stablecoin, Circle, debunks such rumors against them.

Circle Counters Rumors Of Wells Notice From The SEC

There have been rumors about the SEC giving out a Wells notice to Circle, the issuer of USDC. Usually, a Wells notice from the regulator discloses its intended legal action against a company, leaving it more time to prepare a response. On February 15th Dante Dispaerte debunked these rumors stating that Circle had not received any Wells Notice from regulators yet .
Total USDC market cap rests at $41.2 billion l Source: Tradingview.com

Apology Tweet From Journalist

The journalist Eleanor Terrett earlier posted that SEC issued a Wells Notice to Circle regarding its management and issuance of USDC but she later deleted her post and took to Twitter to apologize for her wrong information concerning Circle admitting her mistake openly .

Reactions From Crypto Community Members

Though she has admitted her mistake in SEC’s target against USDC ,the FUD is already spreading due this incident . Several reactions have were revolving around this issue while some crypto community members cited their panic sell-offofUSDC tokens due to these rumors . In response tweet one Twitter use who goes by @MotownCrypto reported selling all hisUSDC tokens due to these rumors .

• Jack Butcher has created a new NFT project called “Checks” which is inspired by projects that are creating mini economies, play to earn, commercial rights and generative art.
• Checks pay homage to the “check, not verify” perspective that has long been rooted in crypto and internet culture.
• The goal of Checks is to capture a moment in time as verification takes place and the coveted checkmark is now a symbol that merely means the holder can afford it and is prepared to pay it.

What Is Checks?

Jack Butcher has created a new NFT project called “Checks” which is inspired by projects that are creating mini economies, play to earn, commercial rights and generative art. The goal of Checks is to capture a moment in time as verification takes place and the coveted checkmark is now a symbol that merely means the holder can afford it and is prepared to pay it. This pays homage to the “check, not verify” perspective that has long been rooted in crypto and internet culture.

Why Is It Important?

Checks provide an important connection between different parts of the digital world: from social media networks like Twitter where verification was once seen as a badge of trustworthiness bestowed by institutions; to decentralized networks like Ethereum which allow for permissionless transactions; to creative platforms like Visualize Value which enable individuals to create their own works of art or generate their own economies using blockchain technology. In this way, Checks allow us to explore how these disparate elements interact with each other through their respective ecosystems.

What Are Some Examples Of Checks?

One example of how Checks could be used is within the decentralized gaming space where players could purchase special in-game items such as special skins or weapons with real-world value attached via Ethereum-based tokens (i.e., ERC20). This would essentially turn these digital assets into “checks” that could be cashed out for real money if needed or held onto for future use within other games or trading platforms. Similarly, creators like Jack Butcher have already implemented Checks into their projects so that users can purchase exclusive content such as prints or digital artwork with verifiable authenticity via an immutable public ledger on Ethereum’s blockchain network.

Conclusion

Overall, Jack Butcher’s new NFT project “Checks” provides an interesting insight into how different parts of the digital world are interacting with each other through their respective ecosystems. By allowing users to purchase exclusive content such as prints or digital artwork with verifiable authenticity via an immutable public ledger on Ethereum’s blockchain network, Jack Butcher has provided another layer of value for those looking for ways to invest in creative works without having worry about ownership rights being taken away from them due fraudulent activities or unexpected changes within centralized companies/platforms

• The White House has released a crypto roadmap in order to prevent the risks associated with the asset.
• The roadmap includes two processes: the first part is an all-inclusive framework for the crypto industry’s development, while the second part is increased enforcement by issuing new guidelines.
• Government agencies will also be developing public awareness programs to educate consumers on the risks associated with cryptocurrencies.

The White House has taken a major step forward in protecting the public from the risks associated with cryptocurrency assets by releasing a comprehensive roadmap. The document has been presented to U.S. President Joe Biden and consists of two major processes for the effective legislative regulation of crypto assets.

The first part of the roadmap is the administration’s “first-ever” all-inclusive framework for the crypto industry’s development, which was released towards the end of last year. This framework was based on reports that were put in order by the President’s executive order on Ensuring Responsible Development of digital assets, which was issued in March 2022. The framework provides a comprehensive set of measures that should be taken in order to ensure the safety and security of all stakeholders in the cryptocurrency space.

The second part of the roadmap is an increase in enforcement by issuing new guidelines. Government agencies, such as the Department of Justice (DOJ) and the Securities and Exchange Commission (SEC), are developing and issuing new regulations that are tailored to the crypto space. These regulations will be designed to protect investors and consumers, while at the same time promoting the development of the crypto industry. In addition to this, agencies are also developing public awareness programs in order to educate consumers and investors on the risks associated with cryptocurrencies.

The White House crypto roadmap is an important step in the right direction, as it provides a comprehensive framework for the safe and secure development of the cryptocurrency industry. The roadmap provides a clear and concise path for the legislative regulation of crypto assets, while ensuring that investors and consumers are protected. In addition, the increased enforcement and public awareness programs will help to ensure that the crypto space remains secure and reliable for all involved.

• Annual report from on-chain analytics firm Chainalysis on ransomware attacks reveals that the revenue of ransomware attacks fell by 40.58% in 2022.
• Revenue dropped for cybercriminals is tied to the regulator’s move to push organizations to apply stricter cybersecurity measures.
• Bitcoin’s price is currently hovering above $21,000 in the daily market.

The crypto industry has seen a surge in the number of ransomware attacks and money laundering activities, making it a prime target for financial watchdogs to regulate the sector more tightly. On-chain analytics firm Chainalysis recently published its annual report on the ransomware attack which showed a considerable decrease in the revenue hackers received from victims.

The report highlighted that the total funds from ransomware fell to $456 million in 2022 from $765.6 million that was recorded in 2021. It is believed that the amount could be much higher than the recorded figure as not all addresses linked to the attacks have been identified. It is further believed that the decrease in the revenue is due to the organizations choosing to stand up to the criminals rather than paying them.

In addition to this, regulators have been pushing organizations to implement stricter cybersecurity measures to protect their digital assets. This has contributed to the decline in the revenue of the ransomware attackers.

On the other hand, the market price of Bitcoin is currently hovering above $21,000 in the daily market. This has been an all-time high for the leading cryptocurrency, which has seen a rise in its price since the beginning of the year. It is believed that the rise in the price of Bitcoin is due to the increasing institutional investments in the cryptocurrency market.

Overall, the crypto industry has seen a decrease in the ransomware activities due to the organizations refusing to pay the criminals and the regulators pushing for stricter cybersecurity measures. This has been a positive development for the sector, which is seeing an increasing number of institutional investments. The market price of Bitcoin has also been on the rise, which is a testament to the growing popularity of the leading cryptocurrency.

• Binance will be supporting the Terra Classic (LUNC) network upgrade.
• During the upgrade, deposits and withdrawals will be disabled for LUNC, USTC, and ANC.
• The upgrade may affect transaction fees for LUNC, USTC, and ANC.

Crypto exchange Binance has recently announced that it will be supporting the network upgrade of Terra Classic (LUNC). This upgrade will be taking place on epoch 15,029, and is a result of the LUNC community voting to pass Proposal 11242 which eliminates the re-minting of a portion of the burn tokens. During the three hour upgrade period, Binance will be disabling deposits and withdrawals for USTC, LUNC, and ANC. However, trading of these cryptocurrencies will still be allowed.

Once the upgrade is complete, deposits and withdrawals for LUNC, USTC, and ANC will automatically be re-opened, although Binance will not be making an announcement on this. Users should simply check if their deposits and withdrawals are working again after the upgrade. It is also important to note that the upgrade may affect transaction fees for LUNC, USTC, and ANC. To this end, Binance has stated that it will be reviewing and adjusting the withdrawal fees accordingly.

Overall, it is great to see Binance supporting the network upgrade of Terra Classic (LUNC). This upgrade is a step forward for the LUNC network, and will make the network more secure and efficient. It is also important to note that the upgrade may affect transaction fees, so users should keep an eye out for any changes.