💰 Bitcoin’s ‘kimchi premium’ hits two-year high in South Korea

The so-called Kimchi Premium in South Korea reached a 27-month high of 10.32% for bitcoin on Wednesday in Asia, according to data from CryptoQuant. Kimchi Premium is a term that refers to the price difference between crypto tokens in South Korea and elsewhere. CryptoQuant’s data compares South Korea’s bitcoin price with that of the USD market. The crypto prices in South Korea differ from those outside the country due to several unique elements of the country’s crypto market.

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💰 Total Bitcoin ETF net inflows reach $8.9 billion

BitMEX data showed $332 million in inflows into Bitcoin ETFs, equivalent to 4,995 Bitcoin, on Mar. 6. Leading the charge was BlackRock’s IBIT, which added $282 million to its coffers, bringing its total net inflows to $9.4 billion. This implies that IBIT currently holds around 188,000 BTC. Fidelity’s FBTC wasn’t far behind, maintaining a strong momentum with a robust net inflow of $206 million. This growth brings their total net inflows to $5.6 billion, equivalent to roughly 113,000 Bitcoin, according to BitMEX.

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💰 Tether co-founder believes Bitcoin could hit $300K based on historic patterns

Tether co-founder William Quigley said Bitcoin could potentially surge to $300,000 at the peak of the current bull market, based on historical patterns of past halvings. He shared the insight during an interview with CNBC, where he discussed the market conditions influencing Bitcoin as the halving approaches. Quigley clarified that his analysis is not a prediction but a possibility if historical patterns hold true.

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💰 Spot bitcoin ETF holdings on track to surpass GBTC today

The nine recently approved spot bitcoin exchange-traded funds in the United States are on track to surpass the Grayscale Bitcoin Trust's holdings today. According to K33 Research senior analyst Vetle Lunde, GBTC held 400,186 bitcoins as of yesterday, while the "newborn nine" U.S. spot bitcoin ETFs held 397,847 coins. They also noted that yesterday's net inflow was 6,965 bitcoins. If this continues, they will outgrow GBTC.

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🟠 Appeals Court Revives Aspiring Class Action Lawsuit Against Binance

A group of investors who tried to sue crypto exchange Binance, former CEO Changpeng Zhao and other executives are getting a new chance after an appeals court reversed a lower court ruling dismissing the case. The Second Circuit Court of Appeals ruled Friday that a putative (or aspiring) class action lawsuit against the world's largest crypto exchange should not have been dismissed by a federal judge in the Southern District of New York.

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💰 Unrealistic for Bitcoin to Match Gold’s Investor Allocation: JPMorgan

Analysts at major investment bank JPMorgan Chase have predicted that it will be difficult for bitcoin to match Gold’s current investor allocation of $3.3 trillion. The JP Morgan Bitcoin opinion coincides with the recent achievement of a new All-Time High (ATH) for the premier digital asset, reaching $69.9k. The prediction was made in a recent report penned by senior analyst Nikolaos Panigirtzoglou, as the bank tried to provide “realistic insights” into the bitcoin investment scene.

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💰 Tim Draper believes that El Salvador 🇸🇻 could eventually become one of the wealthiest countries in the world thanks to its investment in Bitcoin.

Draper made his statements on a recent episode of the “Web3 Deep Dive” podcast with Rachel Wolfson.

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JUST IN: 💰 Michael Saylor says Bitcoin is going to "eat" gold and has all the great attributes of gold.

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💰 Saylor says Bitcoin will ‘eat gold’ in the coming months

MicroStrategy executive chairman Michael Saylor predicted that Bitcoin will “eat gold” in the coming months because it is a far superior asset in every way. The MicroStrategy chair made the statement during a CNBC interview on March 11, where he added that Bitcoin was not only superior to gold but all conventional assets, including real estate and stocks.

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💰 Grayscale files S-1 form to launch ‘mini’ GBTC spin-off for investors

Grayscale filed an S-1 form on Tuesday with the U.S. Securities and Exchange Commission to register its new, mini version of its Grayscale Bitcoin Trust (GBTC), named the Grayscale Bitcoin Mini Trust. The mini trust — under the ticker symbol “BTC” — is intended to be a “spin-off” of GBTC, with new shares of the mini trust designed to be distributed to GBTC shareholders as GBTC contributes a certain amount of bitcoin to the trust, according to the S-1 filing.

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💰 $1.4 billion of bitcoin mined last year by once bankrupt Core Scientific

Earlier this year, the crypto mining firm Core Scientific emerged from bankruptcy and had its shares relisted on Nasdaq. On Tuesday, the company said that last year, it mined 19,274 bitcoin, worth about $1.4 billion at current prices. Core Scientific reported on Tuesday that it had self-mined 13,762 bitcoin for its own account on top of "an estimated 5,512 for our hosting clients’ accounts." The company also reported a net loss of $195.7 million, which it said was an improvement of $239.2 million.

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🪙 Ethereum Dencun upgrade day triggers surge in layer 2 protocol token value

The imminent launch of the Ethereum Dencun upgrade at 14.00 UTC today, March 13, has sparked a notable surge in the prices of native tokens for layer-2 protocols, including Arbitrum, Polygon, and Optimism. According to CryptoSlate’s data, the sector has surged by approximately 5% in the last 24 hours, reaching a total market capitalization of $20.21 billion. This growth maintains a consistent upward trend of 10% observed throughout the week.

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💰 Bitcoin maintains price resilience despite increased miner selling

Miners play a pivotal role in dictating Bitcoin's supply dynamics and their decision to sell or hold is a strong indicator of the overall health of the crypto market. A deep dive into Glassnode's latest data reveals a fascinating trend: a gradual yet noteworthy reduction in BTC held in miner wallets, signaling consistent sell pressure. But what's driving this sell-off, and more intriguingly, how have recent monumental market events.

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💰 Net $680 million flows into Bitcoin ETFs as Grayscale outflows tick back up to $276 million

Bitcoin ETFs continued their strong performance on March 13, with a net inflow of $683.7 million, according to data from Bitmex Research. This marks another positive day for Bitcoin ETFs, following the surge in inflows seen on March 12. Per Bitmex Research ETF flow data, BlackRock’s iShares Bitcoin ETF (IBIT) again led the way, attracting $586.5 million in new investments. Fidelity’s FBTC fund also maintained its momentum, with inflows of $281.5 million.

Source

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💰 Cetera Financial Group unveils policy to allow Bitcoin ETF exposure for RIAs, brokers

Cetera Financial Group has introduced a new initiative aimed at supporting financial advisors with the integration of spot Bitcoin ETFs into investment strategies. Cetera has an impressive roster of over 12,000 financial advisors and holds roughly $475 billion in assets under management, making it one of the largest wealth management services in the US.

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🟠 Binance quietly spun off $10 billion venture arm Binance Labs

Binance, the world’s leading crypto exchange by trading volume, has seemingly spun off its venture capital and incubation arm Binance Labs, according to its website. “Binance Labs is an independent venture and not part of the Binance Group nor is it involved in any of the businesses operated by the Binance Group (including but not limited to the Binance cryptocurrency exchange),” a disclaimer on the site now reads.

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🥇 32MB blocks is how Bitcoin has started - Vitalik

Bitcoin: Has a block size of 1 MB
Bitcoin Cash: Has a block size of 32 MB
Bitcoin SV: Has a block size of 4 GB.

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