CDS Crypto News March 5 in Cryptocurrency: Notable Moments Unveiled
Crypto News

March 5 in Cryptocurrency: Notable Moments Unveiled

Stay ahead of the curve with today's crypto update! Get the freshest scoop on Bitcoin's market movements, blockchain innovations, DeFi developments, NFT trends, Web3 advancements, and the regulatory landscape shaping the crypto world.

208
March 5 in Cryptocurrency: Notable Moments Unveiled

Crypto News- Global crypto exchange Binance has made the decision to cease all operations involving the Nigerian naira, withdrawing entirely from the Nigerian market.

March 5 in Cryptocurrency: Notable Moments Unveiled

This move comes as the platform faces intensified regulatory scrutiny within the country. The exchange announced the suspension of NGN withdrawals effective March 8, with remaining NGN balances to be automatically converted to the Tether stablecoin.

Grayscale’s GBTC Bitcoin Holdings Decline 33% Post-Conversion

Grayscale, the largest crypto asset manager, has witnessed a significant decrease in its Bitcoin holdings since converting its GBTC trust into an ETF in mid-January. Outflows from GBTC have persisted for 36 consecutive days, totaling $9.26 billion since the conversion. Despite the outflows, Bitcoin has continued its upward trajectory, nearing its all-time high of $68,990.

MicroStrategy Stock Surges Over 20% as Bitcoin Approaches Record High

On March 4, MicroStrategy experienced a remarkable surge in its share price, climbing over 20%, largely attributed to the ongoing bullish momentum of Bitcoin. As a prominent player in the business intelligence sector, MicroStrategy has garnered attention for its strategic accumulation of Bitcoin as a treasury reserve asset. Chairman Michael Saylor has been vocal about the firm’s commitment to this strategy, expressing intentions to persistently acquire the cryptocurrency. The correlation between MicroStrategy’s stock performance and Bitcoin’s price movements underscores the growing influence of digital assets on traditional financial markets.

March 5 in Cryptocurrency: Notable Moments Unveiled

Leave a comment

Leave a Reply

Related Articles

2024 US Election Creates Uncertainty, Bitcoin ETFs Face Major Outflows

US Bitcoin ETFs saw a significant $541 million in outflows on November...

USDG Stablecoin: Paxos Teams Up with Robinhood, Kraken, and Galaxy Digital

Paxos has launched the USDG stablecoin, backed by major financial firms like...

Ethereum White Paper Anniversary: From Concept to Global Smart Contract Platform

Ethereum White Paper Anniversary: From Concept to Global Smart Contract Platform

Bitcoin Liquidations Spike: Over $150M in Longs Wiped Out as Price Slides

Bitcoin Liquidations Spike: Over $150M in Longs Wiped Out as Price Slides