Gate.io VIP Sharing Campaign | Vitalik on the Cover of Time Magazine | OpenSea May Have Supported SOL Payments | Russia Accepts Bitcoin as Export Payment Method

Gate.io Announcement

Gate.io VIP Shuttle | In order to encourage more users to apply to become VIP users of Gate.io, we are once again releasing the VIP Sharing Campaign. Users who enjoy VIP rates and VIP services at other places can enjoy the corresponding VIP rates and services at Gate.io for 1 month. We welcome your active participation! Learn more

TA Highlight

The cryptocurrency market has resumed its long-awaited streak of gains this week.

After March 22, the BTC spot price has risen for three consecutive business days. The current BTC spot price has reached $43,845.2, with the price approaching the early March level. This price increase is a sign that the cryptocurrency market is recovering from the turmoil after the Federal Reserve announced an interest rate hike. In this uptrend, there is a clear price and volume rise. This implies a strong bullish sentiment in the market.

In terms of technical indicators, momentum values such as ROC are also rising at high levels, which implies that the current BTC spot price has not yet encountered a growth bottleneck and there is more room for upward price movement.

From the support and resistance situation, the current $45,000 is also the highest point of the BTC spot price since February 11.

This week's BTC spot price support position is around $40,400. Investors are advised to set their stop loss line around $40,400. Looking at range indicators such as the Bollinger band, the current BTC spot price is moving near the upper rail and touched the upper Bollinger band today.

When the BTC spot price breaks through the upper Bollinger band, a slight shake in the spot price may occur, but the overall trend remains bullish.

Crypto Alerts

Vitalik is on the cover of TIME magazine
Vitalik Buterin is on the cover of TIME magazine. In the interview with TIME, he said, "One of the decisions I made in 2022 was to try to be more adventurous and less neutral, and I would rather have Ether offend some people than become something meaningless. He also gave a systematic overview of Vitalik Buterin's experience and the history of Ether, and discussed at length his vision of the social value of Ether beyond its technical significance.


NEAR Protocol and Oracle Chairman Partner to Create DAO
SailGP, the global sailing alliance founded by Oracle Chairman Larry Ellison, and NEAR Protocol will create a DAO that will enable fans to become owners of sports teams, according to a statement released Thursday. The DAO team will join SailGP as early as the fourth quarter of 2023, and members of the DAO will be able to determine athlete selection, team management and team strategy. As part of the multi-year partnership, SailGP and NEAR developers will work on integrated technology and R&D initiatives such as ticketing, NFT, application integration and gaming, as well as global Web 3 community development.


OpenSea may already support displaying NFT prices in SOL
OpenSea, the world's largest NFT marketplace, already supports displaying NFT prices in Solana (SOL). Although this news has not been officially announced, some users have confirmed from OpenSea's "Prices" section that OpenSea has added Solana (SOL) to the price filter in addition to USD and ETH.

Market Updates

Florida: The state will accept bitcoin for tax purposes
Florida Governor Ron DeSantis said he is taking steps to enable companies to pay taxes in cryptocurrency. deSantis said at the signing of the financial literacy curriculum bill that he has instructed state agencies to be ready to accept crypto taxes. deSantis said, we're working on it, and I've told state agencies to figure out if businesses want to tax the state of Florida with cryptocurrency, we should be willing to accept it. In addition, DeSantis specifically said that Florida is working to accept bitcoin as a tax payment


ANZ becomes first Australian bank to mint stablecoin
The Australia and New Zealand Banking Group said Thursday, March 24, that it made an Australian dollar stablecoin payment, becoming the first Australian bank to mint a digital asset pegged to the country's currency. ANZ said it has delivered Australian dollar stablecoin A$DC to Victor Smorgon Group, a private digital asset wealth management firm, through digital asset investment platform Zerocap. ANZ used a smart contract to mint 30 million A$DC, which was transferred between the two parties and later converted back to fiat currency.


BlackRock: Russia-Ukraine conflict may accelerate the process of digital currency becoming an international settlement tool
On March 24, Larry Fink, CEO of the world's largest asset management company BlackRock, said that the Russia-Ukraine conflict may accelerate the process of digital currency becoming an international settlement tool, as the conflict has upended the globalization process of the past 30 years.

In a letter to shareholders, Larry Fink noted that the conflict could push governments to evaluate currency dependencies. He also told shareholders that BlackRock is looking into digital currencies as well as stable coins due to increased client interest in this area. according to Fink, a carefully designed global digital payment system could enhance the settlement of international transactions while reducing corruption and money laundering.

In the letter, Larry Fink also mentioned that central banks are facing a dilemma not seen in decades, namely having to choose between high inflation and economic slowdown to curb price pressures.

Global Headlines

Russia: Willing to Accept bitcoin as Payment for Natural Resource Exports
Russia is willing to accept bitcoin as a payment method for its natural resource exports, Pavel Zavalny, chairman of the State Duma's energy committee, said at a news conference Thursday. openness, starting with natural gas, depending on the buyer's preferred method of payment. However, terms will depend on the status of the importing country's diplomatic relations with Russia, which can trade with "friendly" countries using either its own currency or bitcoin. "If they want to use bitcoin, we will do bitcoin transactions."

Thailand Securities and Exchange Commission: Restricting the Use of Cryptocurrencies as a Means of Payment

On March 23, the Securities and Exchange Commission of Thailand issued rules restricting the use of cryptocurrencies as a means of payment, requiring digital asset operators to comply with the rules starting April 1.


Honduras denies rumors of making bitcoin legal tender
The central bank of Honduras has denied rumors of adopting bitcoin as legal tender, according to a statement released earlier this week on March 24. The country's central bank has clarified that it is the only institution in the country that legally issues banknotes and coins. At the same time, the Honduran central bank has made it clear that it "does not supervise or guarantee" payments made with the help of cryptocurrencies.

In addition, the Honduran central bank said it will continue to assess the feasibility of developing a central bank digital currency. As previously announced, Honduras may be the next country to officially recognize bitcoin as legal tender, following El Salvador.


Malaysia's deputy finance minister denied that the country will adopt bitcoin as legal tender
Malaysia's deputy finance minister dismissed recent speculation that bitcoin and other digital assets could be legalized in Malaysia on March 24, Mohd Shahar Abdullah said, adding that Malaysia will focus on issuing a central bank digital currency.

"Cryptocurrencies like bitcoin are not suitable for use as payment instruments due to various restrictions," the deputy minister said, without providing details of the so-called "various restrictions. He also noted that the growing technology and payments environment has prompted Bank Negara Malaysia to actively assess the potential of CBDC.

In previous news, Malaysia's Ministry of Communications and Multimedia suggested that digital currencies such as cryptocurrencies be made legal tender to help the younger generation who are active in using cryptocurrencies on the NFT trading platform.

Gate.io Weekly Blogs:

Top Crypto Scams to Avoid

Why Cross Chain Bridges Matter

How to Start a Web 3.0 Enterprise

How to Get an NFT Whitelist Spot

The Main Crypto Rumors for 2022

The Implication Of Stagflation On The Crypto Market

Vitalik Buterin Shares the New Direction of Ethereum Sharding: What is EIP-4844

Author: Byron B. & Charles F. & Peter L. (Gate.io Researchers)
* The article only represents the researcher’s views and does not constitute any investment advice.
* Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all other cases, legal action will be taken due to copyright infringement.