Why Is Crypto Up Today?

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Why Is Crypto Up Today?
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The crypto market capitalization is up 4% over the past 24 hours. At the time of writing, it stands at $2.544 trillion, according to CoinGecko. Most of the top 100 coins by market capitalization have appreciated in the past day.

At the same time, all top ten coins are green, according to CoinGecko. Dogecoin (DOGE) has seen the highest increase. It’s up nearly 20% to $0.1622.

Cardano (ADA) follows with a price rise of 8% to $0.7806.Meanwhile, Bitcoin (BTC) has risen 5.3%, reaching $65,034. At the same time, Ethereum (ETH)appreciated by 2.7% to $3,496. BNB increased the least: 1.6% to $419. The remaining coins all appreciated between 1% and 4%.

As reported earlier today, BTC surged past the $65,000 milestone, heading towards its previous record of $69,000 hit in November 2021.

Also, the newly listed BlackRock iShares Bitcoin exchange-traded funds (ETF) overtook the iShares Silver Trust, reaching $10 billion in assets under management (AUM).

Meanwhile, in a landmark decision, a US court determined that trading certain cryptos on secondary markets, including platforms such as Coinbase, are securities transactions.

Crypto Analysts Find a ‘Meta-Organization’ of Money Laundering

Singapore-based crypto analysts believe they have discovered a money-laundering “meta-organization.”

A regional security intelligence officer who wanted to stay anonymous claimed they uncovered a money-laundering network linking Southeast Asia’s scam industry to a web of criminal activity, including ransomware attacks by the infamous Lazarus Group.

Myanmar-based fraudsters, North Korean hackers, alleged financiers of Hamas, and many more are using this organization to move their illicit assets through the blockchain, according to the South China Morning Post.

The security expert said that,

“It is no exaggeration that they have supercharged the organized crime economy and are running a parallel financial system.”

Lazarus and Hamas financers using the same providers underlines their global reach and capacities, and “that they get the job done,” the expert added. According to Singapore-based crypto analyst Patrick Tan,

“The scale of this problem is far, far greater than what is understood by any government or competent authority at this point in time.”

While Tan believes in the crypto market’s potential, he is concerned that regulators’ failure to detect and investigate suspicious activity weakens the investment environment, the report said.

“The curtains will come down on compliance theatre eventually,” Tan argued.

“When is harder to say, but at least from what we’ve seen, there’s a growing recognition that continuing around this show is not going to fly because there is real harm being caused here.”

CoinEx Releases Brand Video Promoting Bitcoin Halving

Crypto exchange CoinEx released its first promotional video counting down to the much-anticipated Bitcoin halving.

According to the press release, “Coin In CoinEx” is a 2-minute cinematic ad that follows up on the exchange’s previous teaser video outdoor advertisement.

It highlights “an important industry milestone through the lens of CoinEx’s brand philosophy.”

It illustrates the transformative journey of a coin that begins as an ordinary coin navigating the ups and downs of real life, according to the statement.

The coin then enters the exchange’s Web3 universe, where it is transformed into a Bitcoin, embarking on new adventures in a dimension crafted specifically for coins.

Ultimately, the announcement concludes, the upgraded Bitcoin “returns to help all cryptocurrency enthusiasts achieve their dreams and financial freedom.”

Bitcoin Halving Alert: #Bitcoin up or fiat down? Experience history's turning point where #LessIsMore rules! Dodge inflation like a ninja.

Get your Bitcoin on CoinEx now: https://t.co/NXSW9r87Cy#CoinEx $BTC #Bitcoin pic.twitter.com/WCmoSJVmZt

— CoinEx Global (@coinexcom) March 2, 2024

Moreover, the video is CoinEx’s tribute to a significant milestone that it says will shape the future crypto landscape.

The exchange aims to play a major role in promoting crypto adoption. Its goal, says the announcement, is to make crypto trading simple and accessible to all.

Following the release of the video, CoinEx CEO Haipo Yang stated that the ethos behind the Bitcoin halving aligns with CoinEx’s long-standing brand values.

They both aim to lower crypto entry barriers, drive mainstream adoption, and simplify the trading experience for users of all levels, he stated.

OKX Launches Competition with 500 USDC in Prizes, Integrates Jupiter API

Crypto exchange OKX has launched its Solana Super Season Thread Competition, part of a series of initiatives aimed at encouraging engagement with and education around the Solana ecosystem.

According to the press release, the competition offers a total prize pool of 500 USDC, spread across first (300 USDC), second (150 USDC), and third (50 USDC) places.

Moreover, the competition serves two major purposes. On the one hand, it aims to “catalyze more in-depth exploration of Solana while rewarding users for their insights.” On the other hand, it highlights OKX’s long-term commitment to supporting Solana and driving mainstream adoption.

Meanwhile, OKX’s Solana Super Season features various Solana-focused initiatives, including token listings, trading competitions, incubator/accelerator programs, and more.It runs from February 29 until March 14.

Participants can enter this competition by writing a thread discussing any aspect of Solana and tagging it with #OKXSolanaSuperSeason.Meanwhile, OKX also announced that its decentralized exchange (DEX) has integrated with Solana liquidity aggregator Jupiter API.

The announcement said that the integration provides OKX DEX traders with access to Jupiter’s “extensive network” of liquidity sources and optimized routing when making token swaps on Solana.

Jupiter aggregates liquidity from a wide range of sources across the Solana ecosystem, it added.

By tapping into Jupiter’s smart order routing, OKX DEX users can access larger decentralized token swaps and better pricing for their Solana-based trades.

Our DEX has integrated the @JupiterExchange API !

Enjoy better liquidity and smoother trades when swapping on the #Solana Chain

Try it now: https://t.co/IYJH47vUzO pic.twitter.com/aIBc3KMHCH

— OKX Web3 (Wallet | DEX | DeFi | NFT) (@okxweb3) February 29, 2024

The post Why Is Crypto Up Today? appeared first on Cryptonews.

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