Crypto Today

Bulls playing with Bears and other news

By Yugocean | Crypto Today | 1 Mar 2024

Bitcoin Bulls playing with Bears


Bitcoin Bulls playing with Bears

     For some time on February 29, the bears counterattacked and injured the bulls, causing the price of Bitcoin to fall to the level of $58k, but soon the bulls recovered and chased the bears to reach the level of $63k. Bitcoin is still playing a game of tug of war between $60k and $63k. But all analysts agree that BTC will reach a new ATH any day (even if it is today), at any time (even if it is right now).


Other News


DOGE Bulls Without Dogefather

     Dogecoin always grows with Elon Musk's comments, but this time it gained without Musk saying anything about it. Dogecoin's value had been below ⁠¢9 for months, but on February 29, it surpassed ⁠¢13, after which it fluctuated and playing sea-saw, which is still a gain.


Arbitrum on Robinhood wallet

     Robinhood wallet app now accepts Arbitrum, following Base, Optimism, Polygon, Bitcoin, Ethereum, and Optimism. Robinhood wallet only has a small user base because it is only available on iOS.  

Blast mainnet launched

     Blast Mainnet has been launched today and is open for registration. Blast is Ethereum based L2 network. There is a rush to join in order to receive an airdrop. However, due to scams, I will not advise you to approve any signatures or send any payments.




Partial Depegging of FDUSD

     $FDUSD was slightly depegged on February 29th. This wasn't the first time, on January 25th of this year, $FDUSD was substantially depegged, but it shortly returned to its regular stablecoin status.  

Binance and FDUSD

     $FDUSD is Binance's primary stablecoin, and Binance holds 3.28B $FDUSD tokens, which is more than 95% of the total $3.3B.FDUSD market cap. $FDUSD was nearly depegged two times in 34 days; it will hurt Binance if $FDUSD depegs more.  

New Stablecoin YBX

     Solana based third largest TVL protocol MarginFi has announced the launch of USD based $YBX stablecoin on the mainnet in March.    


New Listing

Portal launched on Binance, listed on market

     The Portal token launched on Binance on February 27. Kucoin, Bitget, Buybit, Gate, MEXC etc multiple exchange also listed Portal token around this time; it is also available on DEXs like Pancakeswap V3, and Uniswap V3. Portal Token is the native token of the Portal Web3 gaming based on Ethereum, its maximum supply is 1B $PORTAL.


New Exchange

Backpack Exchange by FTX employees

     Former employees of FTX and Alameda Research have launched an effort to establish a new crypto exchange. This new exchange has been named Backpack



Bank of America subsidiaries in ETF 

     Bank of America's Wealth Management arm Merrill Lynch and financial services unit Wells Fargo are offering Bitcoin spot ETFs to consumers. 

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