Crypto News Today,11 March: Bitcoin Tops $72K for First Time

In the last 24 hours, Values of Crypto have risen sharply

TOP 5 Gainers Coins

Crypto News Key Highlights:

• Bitget Wallet, a leading non-custodial wallet with over 12 million users globally, is set to launch its native token, BWB. The token's debut, hinted through a captivating video, aims to challenge mainstream Web3 wallets like MetaMask. Bitget's parent company's strategic investment in BitKeep in 2023 sparked its transformation into Bitget Wallet. With a recent surge in its native token's trading volume, Bitget reinforces its position as a key player in the crypto space.

• Mudrex, a U.S.-based crypto investment firm in India, plans to provide Indian investors access to U.S. spot Bitcoin ETFs, facilitating investment via BlackRock and Fidelity. Compliant with Indian regulations, Mudrex aims to utilize the Liberalised Remittance Scheme for seamless transactions, targeting institutional investors with a $250,000 investment cap.

• Tesla CEO Elon Musk intensifies criticism against OpenAI, announcing xAI's Grok chatbot as open source amidst tensions with OpenAI's CEO. Musk accuses OpenAI of straying from its founding principles, sparking controversy. Musk's lawsuit against OpenAI and Sam Altman alleges a shift towards profit motives, highlighting broader ethical concerns in AI development.

• The Ethereum Dencun upgrade signals a pivotal step forward for the network, addressing key issues and enhancing performance. Notable Ethereum Improvement Proposals (EIPs) like Uniswap v4 launch and EIP-4844's scalability improvements are anticipated. The upgrade promises improved efficiency and scalability, potentially impacting Ether's price and DeFi innovation.

• This week, the US is unveiling key inflation metrics, with expectations for the FOMC to maintain interest rates. Cryptocurrency markets pause after a strong rally, with Bitcoin and Ethereum retracing from recent highs. US CPI data release is anticipated, impacting economic outlook, while crypto markets show resilience amid traditional market fluctuations.

• The crypto market in Hong Kong sees momentum with plans for spot Bitcoin and Ethereum ETFs. While the US delays Ethereum ETF approvals, Hong Kong aims to launch Ethereum ETFs swiftly. With surging adoption, Hong Kong positions itself as a potential leader in crypto ETF offerings, anticipating strong market demand.

• The London Stock Exchange (LSE) will accept applications for Bitcoin and Ethereum ETNs in Q2 2024, reflecting growing institutional interest in crypto. The move follows the success of the US Spot Bitcoin ETF. LSE emphasizes stringent safeguards, aligning with UK's FCA stance prioritizing investor protection in cryptoassets.

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