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The price of Ethereum (ETH) and its network fees have shown a sluggish trend even as network activity has surged, CoinDesk reported, citing a report from crypto on-chain analytics firm CryptoQuant. The report noted that Ethereum's daily active addresses approached nearly two million last month, surpassing records set during the 2021 bull market, while smart contract calls also topped 40 million per day. However, the price of ETH fell by approximately 30% over the same period. The analytics firm suggested that selling pressure appears to have increased as the volume of ETH moving to exchanges has grown faster than that of BTC.

Nasdaq-listed company Solmate (SLMT) is establishing a Solana hub in the United Arab Emirates (UAE) as part of a corporate restructuring, The Block reported. The company plans to amend its articles of incorporation to officially include blockchain infrastructure and digital asset treasury operations as its core businesses. This move is an extension of a corporate transition that began last September, when Solmate rebranded from a soccer club owner to a Solana infrastructure provider.

Binance founder Zhao Changpeng has refuted a Forbes report on its "World's Billionaires" list. In a post on X, Zhao stated that while he had not read the full article, a glance at the accompanying chart was enough to see it was incorrect. He questioned how his net worth could have increased when cryptocurrency prices have fallen by more than 50% this year, urging the publication to apply common sense and basic logic. Forbes had previously reported that Zhao's net worth had reached $110 billion, placing him 17th on the global rich list and ahead of Microsoft founder Bill Gates.

YZi Labs, formerly known as Binance Labs, has issued a warning to users after detecting suspicious activity on the old Binance Labs X account. The firm urged users not to interact with any posts, links, or direct messages from the account and advised them to unfollow it.

Binance, PayPal, and Ripple are set to join a project by global payments firm Mastercard to build a blockchain-based payments infrastructure, Aggr News reported.

Whale Alert reported that 219,421,714 USDT has been transferred from an unknown wallet to OKX. The transaction is valued at about $219 million.

Ripple has announced plans to acquire BC Payments Australia, a move that will secure the company an Australian Financial Services Licence, Cointelegraph reported. BC Payments Australia is a firm affiliated with a European banking group. The acquisition is expected to be finalized by April 1.

U.S. spot Bitcoin ETFs saw net inflows of approximately $214.56 million on March 10, marking the second consecutive day of net inflows, according to data from Farside Investors. - BlackRock's IBIT: +$153.49 million - Fidelity's FBTC: +$33.54 million - Bitwise's BITB: +$16.35 million - Ark Invest's ARKB: +$4.07 million - Valkyrie's BRRR: -$4.10 million - VanEck's HODL: +$5.94 million - Grayscale Mini BTC: +$5.27 million

The following shows estimated liquidation volumes and position ratios for major crypto perpetual futures over the past 24 hours: - BTC: $88.52 million liquidated (55.96% shorts) - ETH: $52.14 million liquidated (52.27% longs) - SOL: $9.30 million liquidated (54.09% longs)

BitMEX co-founder Arthur Hayes said he will not invest a single dollar in Bitcoin until the U.S. Federal Reserve (Fed) begins printing money. According to Cointelegraph, Hayes stated on his YouTube channel that the longer the war in Iran continues, the more likely the Fed is to print money. He added that if he had a dollar right now, he would wait rather than invest it in Bitcoin, and would only start buying when the Fed begins to significantly ease its monetary policy.

Coinbase CEO Brian Armstrong thanked President Donald Trump for his efforts to make the U.S. the world's crypto capital. In a social media post, Armstrong stated that building the future of financial services is crucial for the U.S. in its competition with China and other overseas rivals. He also shared a post from President Trump on March 4 that urged the passage of a market structure bill.

Lambda256, a blockchain-focused affiliate of Dunamu, is set to launch a strategic council focused on stablecoins, Edaily reported. Dunamu operates Upbit, South Korea's largest digital asset exchange. The company announced today that it has signed a three-party memorandum of understanding (MOU) with law firm Yulchon LLC and SAS Korea. The agreement aims to establish a strategic body to address regulations concerning stablecoins and digital assets, marking the start of full-scale cooperation between the firms in this area.

Large-scale investors are taking long positions on crude oil even as its price falls below $85, Onchain Lens reported. A whale address starting with 0x547 opened a 20x leveraged long position on crude oil (CL) worth $8.95 million. Another address, starting with 0x7f5, deposited $5 million in USDC before opening a 1x leveraged long position on crude oil. Additionally, an address beginning with 0x0e0 established a 7x leveraged long position on crude oil valued at $3.5 million. This same address also holds a total of $14.5 million in 5x leveraged short positions on BTC and ETH.

Following a large-scale liquidation event on the crypto lending protocol Aave, which saw $27 million in positions closed in a single day, the project has identified the cause as a configuration error in its risk management tool (CAPO). Aave founder Stani Kulechov explained on X that CAPO is an external risk management tool used by the Aave protocol. He stated that a technical configuration error led to the liquidation of some positions that were near their liquidation thresholds. During this process, a total of 345 ETH was paid to liquidators in the form of excess liquidation profits, and no bad debt was incurred. Kulechov added that the configuration issue has now been resolved and that discussions are underway to compensate affected users with the fees generated from the liquidations.

South Korean exchange Coinone's market share has surged from a 1-3% range at the start of the year to over 10% early this month, SBS Biz reported. Data from crypto data provider CoinMarketCap shows the exchange's share even surpassed 20% on March 8. The growth is attributed to factors including its internal control processes for asset payments and promotional zero-fee trading events.

South Korea's National Tax Service (NTS) is launching a task force to improve its management of virtual assets, Money Today reported. The move is intended to prevent the recurrence of security breaches. At a briefing before the National Assembly's Finance and Economy Planning Committee on March 11, NTS Deputy Commissioner Lee Seong-jin said the task force would thoroughly analyze the cause of recent problems and establish comprehensive prevention measures to ensure such incidents do not happen again. The decision follows a recent event on Feb. 26, when the NTS inadvertently exposed sensitive information in a press release publicizing the seizure of crypto from high-value delinquent taxpayers. The leak led to the theft of coins worth around 6 billion won.

An anonymous whale withdrew 44,888 ETH, worth $92.97 million, from Kraken early today, AmberCN reported. The assets were then split between two addresses. Withdrawals from exchanges are typically interpreted as a sign of intent to hold.

A lack of buying pressure to absorb Bitcoin's selling supply could lead to continued structural downward pressure, according to an analysis. Mignolet, a CoinNess content creator and crypto analyst, explained that while the recent price drop has eased some market overheating, the situation is not fully resolved. He noted that signs of a widening supply-demand imbalance are re-emerging, meaning there is insufficient demand to absorb the sell-side volume entering the market. Mignolet warned that if there are no signs of quiet accumulation from whales during the current sideways trading phase, a previously mentioned bearish pattern could become more pronounced. He concluded that although a short-term rebound might create a sense of optimism, Bitcoin will likely continue to face downward pressure if this structural imbalance persists.

The International Energy Agency (IEA) has proposed its largest-ever release of strategic petroleum reserves to combat soaring crude oil prices amid the war between the U.S.-Israel and Iran, The Wall Street Journal reported. Government officials stated that the release would exceed the 182 million barrels that IEA member countries released in two tranches in 2022 during the war in Ukraine. The proposal was discussed at an emergency meeting of energy officials from the 32 IEA member countries on Tuesday, with a final decision expected today.

The Altcoin Season Index from crypto data aggregator CoinMarketCap is currently at 36, unchanged from yesterday. The index is calculated by comparing the price performance of the top 100 coins by market capitalization, excluding stablecoins and wrapped coins, against that of Bitcoin. An 'altcoin season' is declared when 75% of these top 100 coins outperform Bitcoin over the preceding 90 days, while the opposite is considered a 'bitcoin season.' A reading closer to 100 signifies an altcoin season.

Of the 633 virtual assets available on South Korea's five largest crypto exchanges, only 36 are listed on all of them, representing just 5.7% of the total as of January, NewsPim reported. The exchanges are Upbit, Bithumb, Coinone, Korbit, and Gopax. Delisting standards also vary widely. Over the past year, a total of 74 virtual assets were delisted across the platforms, but only two, EOS (EOS) and Hippo (HPO), were removed by all five exchanges. The Digital Asset eXchange Alliance (DAXA) explained that its model practices for trading support serve as a minimum common standard. It noted that differences in listings occur because each exchange applies its own additional policies and review criteria.

Binance founder Changpeng Zhao's net worth has reached $110 billion, making him the 17th wealthiest person in the world, Forbes reported. This places him ahead of Microsoft founder Bill Gates, who is ranked 19th with a net worth of $108 billion. Zhao's rise in the rankings is attributed to a recovery in Binance's corporate valuation, which is currently estimated at around $100 billion. Zhao holds a 90% stake in the company.

The Fear & Greed Index from crypto data provider Alternative registered 15, up two points from the previous day. The index shifted from "Fear" to "Extreme Fear" on Jan. 30 and has remained in that stage since. The index indicates extreme market fear as it approaches zero and extreme optimism as it approaches 100. The Fear & Greed Index is calculated based on volatility (25%), trading volume (25%), social media mentions (15%), surveys (15%), Bitcoin's market cap dominance (10%), and Google search volume (10%).

South Korea is moving to cap ownership stakes in crypto exchanges at 20% for individuals, including related parties, and 34% for corporations, News1 reported. The ruling Democratic Party's Digital Asset Task Force and South Korean financial authorities have reportedly reached a preliminary agreement to include these limits in a forthcoming basic act on digital assets. The proposal is slated for final confirmation at a party-government consultative meeting. While these proposed ceilings are higher than the 15-20% range previously discussed, major shareholders of leading exchanges like Upbit, Bithumb, and Korbit would still be required to sell off significant portions of their holdings.

The crypto lending protocol Aave experienced large-scale liquidations totaling $27 million over the past 24 hours, CoinDesk reported. While initial speculation pointed to a problem with an oracle from risk management firm Chaos Labs, the company clarified that the issue was not with the oracle itself. Instead, Chaos Labs stated that a misconfiguration of Aave's internal safety mechanism, known as CAPO, was the cause. The firm explained that this led to wstETH being undervalued, which pushed some loan positions below their liquidation thresholds and triggered the forced liquidations. Liquidation bots earned 499 ETH in profits during the process.