March 4th in Crypto: Key Moments and Developments

Crypto News- Cryptocurrency enthusiasts witnessed Bitcoin soaring to a new all-time high against the euro, reaching an impressive 60,000 euros per coin. The surge, reported at 8:30 am UTC, marked a significant milestone as Bitcoin’s value surged approximately 5% from its intraday low of 57,521 euros. Presently, Bitcoin trades at 59,981 euros, marking a remarkable 56% increase year-to-date. River Intelligence marketing head, Sam Wouters, hinted at Bitcoin’s next ambitious target – the Mexican peso. Despite trading at 1.1 million pesos currently, down 24% from its previous high in November 2021, Bitcoin continues to captivate global markets with its upward trajectory.

Coinbase Unveils Embedded Smart Contracts to Enhance Developer Experience Crypto exchange giant Coinbase introduced embedded smart wallets for developers, a move aimed at streamlining the integration process across Ethereum Virtual Machine (EVM) applications. This new feature enables users to seamlessly carry their crypto balances across various EVM-compatible applications integrated with the Coinbase Wallet SDK.

March 4th in Crypto: Key Moments and Developments

Yuga Cohler, senior engineering manager at Coinbase Embedded Wallets, emphasized the customer-centric approach driving Coinbase’s innovation, highlighting the continuous efforts to enhance product experiences. The addition of embedded wallets expands Coinbase’s wallet-as-a-service offerings, empowering developers to integrate noncustodial white-labeled wallets effortlessly into their applications, thus enhancing user experience and accessibility.

Binance Sparks Controversy by Removing Nigerian Naira from P2P Service Binance, a leading cryptocurrency trading platform, faced backlash after removing the Nigerian naira from its peer-to-peer (P2P) service. The decision came amidst allegations from the government that Binance’s platform contributed to the devaluation of the currency. Presidential adviser Bayo Onanuga warned of dire consequences for Nigeria’s economy if Binance’s activities were not curtailed, accusing the platform of manipulating foreign exchange rates.

The P2P feature, which gained popularity in Nigeria in 2021 following the government’s crypto industry ban, allows users to trade directly without involving intermediaries. Binance’s move has sparked debate and raised concerns about the future of cryptocurrency trading in Nigeria amidst regulatory scrutiny.