Crypto News Today, 13 March: Will Ethereum Overtake Bitcoin

Values of cryptocurrencies have risen over the past 24 hours

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Crypto News Key Highlights:

• The Dencun upgrade marks Ethereum's "Surge" era prioritizing scalability. Led by co-founder Vitalik Buterin, Ethereum aims for 100,000+ transactions per second. Nine Ethereum Improvement Proposals (EIPs), including EIP-4844, introduce "data blobs" for L2 networks, boosting mainnet data availability. This reduces L2 gas fees, enhancing efficiency and user experience.

• The cryptocurrency market's exponential growth attracts new investors but also sees a surge in scams, prompting FBI warnings. Scams caused $3.94B in losses, targeting inexperienced investors via social media. FBI advises vigilance, recommending two-factor authorization. Amidst market highs, caution is crucial to protect against fraudulent schemes and financial losses.

• VanEck's Bitcoin ETF attracts over $200 million with fee waivers until March 2025 amid fierce competition. Bitcoin's record high drives investor demand. VanEck's ETF and trust see significant inflows, boosted by fee reductions. Market closely watches U.S. Spot Bitcoin ETF amid growing institutional confidence in crypto.

• Bitcoin ETFs see record $1.05 billion inflows in a day, driven by Bitcoin's soaring price. Growing demand for regulated investment vehicles reflects investors seeking exposure to BTC. Analyst predicts potential BTC liquidity crisis if institutional inflows continue, with implications for market dynamics and price. Grayscale Bitcoin Trust experiences outflows despite BTC price appreciation, hinting at evolving investor sentiment.

• Google restricts election-related queries for Gemini chatbot in the US and India due to AI concerns. Concerns over misinformation prompt tech companies to take precautions. Governments, like India, mandate approval for AI tool releases. Rise in political deepfakes prompts new challenges for voters. Regulatory guidelines issued by European Commission and Meta to combat AI misuse.

• Indonesia's Financial Services Authority (OJK) issues regulations effective January 2025, guiding financial institutions on adopting tech innovations, including crypto. It emphasizes customer protection, sandbox testing, and reporting outcomes. OJK collaborates with current regulators and international partners to craft comprehensive crypto policies, reflecting proactive steps towards digital asset supervision.

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