Binance will list Book of Meme Bitcoin is too volatile

Headline

▌Coin Binance will list Book of Meme (BOME) and add a seed tag to it

Binance will list it at 20:30 on March 16, 2024 ( East Eighth District Time) will launch Book of Meme (BOME) and open the following spot trading pairs: BOME/BTC, BOME/USDT, BOME/FDUSD, and BOME/TRY. The BOME recharge channel is now open, and the BOME withdrawal is expected to be open at 20:30 on March 17, 2024 (East Eighth District time).

▌Vanguard CEO: Bitcoin is too volatile and not worth a long-term investment

< p style="text-align: left;">Vanguard CEO Tim Buckley said that cryptocurrency operates as a speculative asset, is not suitable for long-term investment, and is not consistent with Vanguard's investment model. Something like Bitcoin is too volatile and it's not a store of value. When the stock market took a hit during the recent crisis, Bitcoin followed suit.

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Quotes

As of press time, according to coinmarketcap The data shows:

BTC's recent transaction price was US$65,968.01, with intraday increases and decreases< strong>-5.11%;

ETH’s recent transaction price was US$3,742.97, with intraday gains and losses< span style="color: rgb(255, 0, 0);">-5.65%;

BNB’s recent transaction price was US$580.3, with an intraday increase or decrease-5.75% strong>;

ORDI’s recent transaction price was US$64.15, with intraday gains and losses-10.48%;

DOGE’s latest transaction price was US$0.1641, intraday Increase or decrease-8.55%;

SOL's recent transaction price was US$186.80, with intraday changes+1.26%.

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Policy

< strong>▌Nigerian SEC seeks to increase cryptocurrency exchange registration fees

The Nigerian Securities and Exchange Commission (SEC) proposes to impose regulations on platforms that provide crypto services Revision. The committee recommended increasing the registration fee for cryptocurrency exchanges from $18,620 (30 million naira) to $93,000 (150 million naira). In the amendment, the SEC said the proposed changes were to provide clarity and incorporate suggestions from industry stakeholders, “particularly regarding the recent engagement with the CBN”. The Nigeria SEC first issued rules and guidelines to all cryptocurrency and digital asset service providers in May 2022, but on Friday, March 15, 2024, it recommended that the rules be revised. Under the updated guidelines, Digital Asset Exchanges (DAX), Digital Asset Offering Platforms (DAOPs) and Digital Asset Custodians (DAC) will be required to pay an application/application fee of US$186 (300,000 Naira), which is higher than the previous $62 (100,000 Naira) fee.

▌The U.S. Digital Chamber of Commerce calls on Nigeria to release detained U.S. citizens and Binance executives

The Biden administration is facing growing pressure to immediately help free Tigran Gambaryan, a former U.S. federal agent who focuses on cryptocurrencies and has been detained by the Nigerian government since February 12 without a passport. Nadeem Anjarwalla, another Binance executive. The Digital Chamber issued the call via a blog post on its website on March 15 and is leading the charge for urgent diplomatic action to address what they see as a grave injustice. The post stated that Tigran Gambaryan’s detention under such questionable circumstances sets a disturbing precedent, indicating that any American entrepreneur overseas, especially in the cryptocurrency industry, may face similar illegal actions by foreign authorities. action.

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Blockchain Application

▌NFT shooting game "MadWorld" development studio completed US$11 million in Series A financing, with a16z participating

Development of NFT shooting game "MadWorld" Studio Carbonated Inc announced the completion of an $11 million Series A round of financing led by South Korean gaming giant Com2uS, with participation from Andreessen Horowitz (a16z), Bitkraft Ventures, Cypher Capital, Blocore, Goal Ventures and WAGMI Ventures. MadWorld, which will officially launch sometime in 2024, combines competitive shooting action from a third-person perspective with territory control gameplay based on NFT land assets. The game takes place on earth in the apocalyptic future.

Cryptocurrency

▌NetMind.Ai : Will redesign the token economy, adjust emission plans, and take measures to prevent large-scale sell-offs from happening again

March 16 news, NetMind. Ai officials posted on social media that yesterday's rapid decline was due to early miners clearing 442,000 NMT (approximately $2.85 million) and did not involve any hacking attacks or security flaws. Future steps will be taken to prevent large-scale one-time sell-offs and to redesign the token economy to significantly adjust emissions plans. NetMind.Ai stated that it is recommended to lock early miner tokens in smart contracts on the NMT chain and set a structured vesting period to ensure the gradual release of the market. Dramatically shorten emissions timelines from 100 years to 5-10 years to adjust supply dynamics and incentivize sustainable growth. Full details will be shared soon. Additionally, a cap will be implemented on the number of tokens that any single entity can hold or mine within a certain time frame to prevent future concentrated selling of tokens that could threaten the sustainability of the project.

▌Uniswap: 97.5% of transactions under $125,000 perform better on the Layer 2 network than Ethereum

Decentralized exchange Uniswap has released a research report on the advantages of Uniswap trading on the Layer 2 network. Research shows that 97.5% of transactions under $125,000 perform better on Layer 2 networks than Ethereum. The Layer 2 network also has a 75% higher liquidity concentration than Ethereum, making liquidity providers more capital efficient. Due to lower transaction costs, liquidity providers can rebalance their Uniswap positions more frequently. On average, liquidity providers operating across the full price spectrum on Layer 2 enjoy approximately 20% higher arbitrage profits than on mainnet. These research data were drawn before the Dencun hard fork, suggesting greater efficiency with the introduction of blob transactions.

▌Bitwise Chief Investment Officer: The violent price fluctuations of cryptocurrencies have declined significantly over the past decade

Matt Hougan, chief investment officer of Bitwise Asset Management, said that the violent price swings of cryptocurrencies have declined significantly over the past decade. What’s driving the Bitcoin market right now is a simple imbalance of supply and demand. We get a huge source of new demand from these ETFs, but our supply is inelastic.

▌ETH fell below $3,600

The market shows that ETH fell below US$3,600 and is now trading at US$3,555.21. The intraday drop reached 5.37%. The market fluctuates greatly. Please control risks.

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Important Economic Updates

▌Salary increase 5.28%! Does the Bank of Japan dare to raise interest rates?

The results of the first round of Japan's "Spring Tournament" are out, with a salary increase of 5.28%! Although it is lower than the 5.85% demanded by the union, it is still the highest value in 33 years since 1991 (5.66%), and far exceeds last year's 3.8% range. The Bank of Japan has been worried that if wages and prices cannot rise in a spiral, it will be premature to end deflation and raise interest rates. However, the salary increase this time is far greater than last year, and Japanese media are also crazy about taking precautions. Will the Bank of Japan really end negative interest rates?

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Golden Encyclopedia

▌What determines the price of Bitcoin?

Market forces of supply and demand affect the price of Bitcoin. When there are more sellers, prices usually go down and vice versa. Bitcoin prices are also affected by factors such as media reports, investor sentiment, and regulatory news, leading to rapid price fluctuations. Supply and demand market dynamics that affect the prices of other goods and services also determine the price of Bitcoin.  

Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and not as actual investment advice. Please establish a correct investment philosophy and be sure to increase your risk awareness.