Daily news update: March 24th, 2022

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Crypto market update

Yesterday’s market drop was short-lived as the market recovered and shot up, lead by Bitcoin, which charted a new three-week high above $43,000. Most altcoins have also turned green, with Cardano, Dogecoin, Shiba Inu gaining the most. PlatonCoin is basically holding the ground again. The total crypto market cap is up by around $60 billion since yesterday’s low and is slightly above $2 trillion.

Bitcoin (BTC) is now trading at 43,054 USD up by 2.0% in 24h

Ethereum (ETH) is now for 3,055 USD up by 3.1% in 24h

PlatonCoin (PLTC) is now for 0,679 USD down by 0.1%  in 24h

Total marketcap is currently at 2.048 trillion USD up by 2.6% in 24h

(all data valid at the time of publishing, from Coingecko.com)

Daily news update

Raul Pal and Ethereum: A series of technical indicators appear to be flipping bullish for Ethereum (ETH), according to Real Vision CEO and global economic expert Raoul Pal. Pal also said that Ethereum appears ready to steadily outperform the crypto king Bitcoin.

Ethereum and market capitalization: As its price finally surpassed the $3,000 mark, the total market capitalization of Ethereum (ETH) has soared along, overtaking some of the world’s largest financial institutions, such as Bank of America and Mastercard. The market cap of Ethereum stood at $366.13 billion at press time on March 24, in comparison, the market worth of BoA was $347.51 billion, while that of Mastercard was $337.12 billion.

El Salvador and United States: The US Senate passed its “Accountability for Cryptocurrency in El Salvador (ACES) Act” through committee on Wednesday, and the bill is set to be voted on by the house. Nayib Bukele, El Salvador’s leader, perceives the actions of the United States as a threat to the country’s sovereignty.

El Salvador and Bitcoin bonds: El Salvador’s Bitcoin (BTC) bonds are oversubscribed by around 50%, according to a Financial Times report. The Central American country announced in November of 2021 that it would issue Bitcoin bonds worth $1 billion. Citing El Salvador’s finance minister Alejandro Zelaya, sources tell the Financial Times that the total value of the bids for the Bitcoin bonds amounted to about $1.5 billion.

Honduras and CBDC: The Honduras Central Bank continues with conceptual, technical, and legal study and analysis to determine the feasibility of issuing a central bank digital currency (CBDC) that will be recognized as legal tender in the country and therefore be regulated and have the support of the bank.

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