The Behavior of Cryptocurrencies - Capitalization Leaders
Bitcoin (BTC), according to the TradingView resource, began Monday with a slight increase. As of today, the cryptocurrency is trading at $83 518.
The second most capitalized cryptocurrency Ethereum also started the day with a slight increase. At the time of writing, the coin is trading at $1 902.
In the top 10 most capitalized cryptocurrencies, the best result in a day (+2.83%) and a week (+12.04%) is for BNB. The biggest loss in 24 hours is Solana (-4.97%) and in seven days is TRON (-9.30%).
In the top 100 of the most capitalized cryptocurrencies, the best result for the day (+34.86%) and the week (+55.55%) was recorded by Binary. During the last 24 hours, Pi (-8.46%) lost in price more actively than others. Ethena (-16.70%) recorded the biggest losses for the week.
Top Crypto News of the Morning of March 17
South Korea's central bank commented on the possibility of including bitcoin in the country's reserve.
The regulator's position on the issue was revealed in response to a written request from National Assembly member Cha Kyu-geun, reports The Korea Herald.
The Bank of Korea noted that bitcoin's high volatility and possible difficulties in liquidating the asset in case of instability in the crypto market make it unsuitable for foreign exchange reserves. The central bank also emphasized that reserves should have high liquidity and an investment grade credit rating. Bitcoin, according to the regulator's representatives, does not meet the requirements.
Earlier, some Democratic Party officials and crypto-lobbyists urged authorities to consider including bitcoin in government reserves and create a stablecoin backed by South Korean won.
The initiative to form a bitcoin reserve has also faced pressure in the U.S.
The court ordered crypto platform Debiex to pay $2.5 million in a fraud case. This decision was made by a federal court in Arizona in a lawsuit brought by the US Commodity Futures Trading Commission (CFTC).
The CFTC filed a lawsuit against Debiex in January 2024, claiming the platform used a fraudulent crypto romance scam, convincing victims to invest in cryptocurrency. Five people transferred about $2.3 million to the platform, which was then stolen. The court ordered Debiex to recover that amount, as well as $221,500 in fines. Judge Douglas Reyes noted that the defendant had no valid reasons for ignoring the lawsuit.
Angel investor Jason Calacanis, known for early investments in Uber and Robinhood, said that
Calacanis argues that any technology eventually becomes obsolete and bitcoin will be no exception. However, representatives of the bitcoin industry, including Swan Bitcoin co-founders Brady Swenson and Corey Klippsten, disagree.
They stated that successful protocols are not replaced, but augmented with new layers. Lightspark CEO David Marcus noted that bitcoin's shortcomings can be eliminated with second-level solutions. In turn, ShapeShift CEO Eric Voorhees added that the missing features can be implemented in other blockchains.
Some experts, such as Stacks co-founder Muneeb Ali, believe that most existing second-tier bitcoin solutions will disappear in the next three years. However, others, including crypto-enthusiast Wayne Vaughan, argue that the larger the bitcoin network, the harder it is to replace. Strive Funds CEO Matt Cole emphasized that there is no "better bitcoin" and trying to find an alternative will result in losses.
