Bitcoin Hits $96,750 as Coinbase News Breaks and Football.Fun Holds TGE

Major cryptocurrencies are displaying strong upward momentum, with Bitcoin reaching a fresh two-month peak. Bitcoin climbed 2% to trade at $96,750, Ethereum increased by 2% to $3,360, Solana held steady at $145, and XRP dipped 1% down to $2.11.

Among the top-performing assets, Decred (DCR) surged 30%, Dash (DASH) gained 10%, Internet Computer (ICP) rose 10%, and Zcash (ZEC) climbed 7%. Meanwhile, Monero (XMR) established a brand-new all-time high at $800 before pulling back to $725.

In regulatory and corporate news, Coinbase withdrew its backing for the Senate’s cryptocurrency market structure legislation prior to an essential vote. The exchange pointed to significant issues within the most recent draft, prompting the Senate to postpone the bill.

On a brighter regulatory note, Zcash sidestepped enforcement action as the Zcash Foundation announced that the Securities and Exchange Commission has wrapped up its investigation. Concurrently, Ripple obtained a license in Luxembourg to further its ongoing expansion across Europe.

In international developments, Pakistan has partnered with World Liberty Financial to investigate potential stablecoin applications for cross-border transactions and remittances. Additionally, the Human Rights Foundation distributed nearly $1.3 million worth of Bitcoin grants toward initiatives centered on human rights and freedom technology.

Figure introduced a novel public equity network aimed at facilitating the on-chain creation and issuance of equities and associated financial instruments. In bankruptcy proceedings, FTX readied its next wave of creditor payouts, providing a timeline for the upcoming distribution scheduled for March 31.

Lastly, Sui resumed operations following a network outage lasting nearly six hours, presenting yet another test of reliability for the blockchain network.

Frequently Asked Questions

• What is the current price of Bitcoin? Bitcoin recently hit a two-month high, trading at $96,750 following a 2% gain.
• Why did the Senate delay its crypto market structure bill? The Senate postponed the vote after Coinbase pulled its support due to major concerns regarding the latest draft of the legislation.
• Is the SEC still investigating Zcash? No, the Zcash Foundation confirmed that the SEC’s investigation into Zcash has officially concluded without enforcement action.
• When is the next FTX creditor distribution? FTX has outlined timing details for its next round of creditor payments, which is scheduled for March 31.
• What caused the Sui network disruption? Sui experienced a network stall that lasted nearly six hours before coming back online.