Elon Musk’s surprising end goal shakes altcoin prices in crypto market

In a recent Twitter announcement, Elon Musk revealed that a well-known automated bot account named "ExplainThisBob" has been suspended. The suspension of this popular bot account caught the attention of social media users and Elon Musk's followers, sparking discussions and speculations about the reasons behind the suspension.

Elon Musk has decided to suspend the "ExplainThisBob" automated bot account after raising concerns about the account's alleged involvement in promoting cryptocurrency scams. Musk took to Twitter to warn users about potential fraudulent activity related to an altcoin called BOB, causing his followers to be more cautious. The move to suspend the account further underscores Musk's commitment to ensuring cryptocurrency enthusiasts are safe and protected from potential scams and illegal activity.

Bitcoin halving is the process by which the rewards given to miners for validating or processing transactions are reduced or halved. This is a preset feature of Bitcoin and happens every 4 years.

While the total number of Bitcoins that will be mined is fixed at 210,000, the reward for miners to mine Bitcoin is not fixed.

It is reduced every four years to reduce the number of Bitcoins circulating in the market. The idea of ​​a Bitcoin halving has been around since the early days of Bitcoin. It all comes down to Bitcoin mining and miners.

What we are going to learn?

Learn more about Bitcoin Halving

In the first institutional-level crypto ESG rankings conducted by CCData, Ethereum (ETH) emerged as the highest-ranked cryptocurrency, while Bitcoin (BTC) did not make the top 10.

The top five cryptocurrencies are Ethereum (ETH), Solana (SOL), Cardano (ADA), Binance Coin (BNB), and Aptos (APT). Notably, Ethereum (ETH) is the only crypto project to receive an “AA” grade in the rankings.

In the ESG ranking, Ethereum (ETH) scored over 25 points on all three metrics, while Bitcoin (BTC) scored 7 points on its environmental metric. Bitcoin ultimately received a grade of "B" with an overall score of 58, while Ethereum received a score of 79.

The market appears to be gearing up for the upcoming Litecoin halving event, with the popular coin trying to end the week with a bullish finish.

Litecoin’s price continues to move within a predetermined range without triggering a bullish move or bearish exit.

Although it is possible that Litecoin’s price will rise after the halving event, the likelihood of sustaining gains in the long term is likely to be low.

There are only 10 days left until the Litecoin halving event; the number of wallets holding at least 100 LTC is increasing, so how will it affect LTC price?

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Amid the general bearish sentiment in the market, Collateral Network (COLT) has captured the attention of investors, promising a 3,500% surge in value before the pre-sale ends. With its unique features, COLT is the new gem that is turning the crypto market around. However, the question is, can COLT rival the potential of well-known giants SHIB and BTC? Is COLT the undiscovered crypto gem of 2023? let's dive in

Shiba Inu (SHIB) shows resilience amid falling prices

Last week, Shiba Inu prices fell sharply by double-digit percentages. One whale took advantage of the drop in Shiba Inu prices and purchased over 5.10 trillion SHIB worth over $10,000. As a result, Whale’s address currently holds over 5 trillion Shiba Inu, underscoring their confidence in this asset.

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Myanmar Crypto Bank Goes Online

Maintain cross-market use cases

NUG provides support for relocation

Myanmar’s first entirely crypto-based banking institution is set to debut in a matter of days.

Spring Development Bank has announced that its soft launch will take place on Saturday, March 22nd. This will mark an important milestone for Myanmar’s financial landscape, as the new development is crucial for the country’s shadow government, the National Unity Government (NUG), to provide more financial services and funding.

Myanmar Crypto Bank Goes Online

The Spring Development Bank takes its name from the Spring Revolution, a movement led by Myanmar's shadow government in exile against a ruling military junta that seized control of the country in March 2021, known as the State Administration Council ( SAC). It is worth noting that the new bank is not limited to residents of Myanmar (formerly Burma), but is open to other Myanmar expatriates who do not live in the country.

In the LBRY case, the judge confirmed that securities laws had been violated and approved the agreement reached after an appeal hearing.

Initially, the SEC proposed a settlement amount of $220,000, which was later revised to $111,000, taking into account LBRY's financial condition. As part of the ruling, the judge approved a revised settlement amount.

Binary distinction regarding LBC token sale in LBRY case

In the LBRY case, the judge ruled that the issuing company’s direct sale of LBC tokens during the initial offering violated securities laws. However, the ruling did not address whether subsequent trading of LBC tokens between exchange traders violated securities laws. The judgment focuses primarily on the company's initial token offering.

Key takeaways

According to analysts, Bitcoin’s next pre-halving surge could begin within the next four months.

Nearly all of the largest Bitcoin investors have seen their share prices increase by more than 30% in just 80 days.

The price of Bitcoin is expected to continue to rise before and after each Bitcoin halving, as it has in the past

The upcoming Bitcoin halving is expected to provide new momentum for stocks focusing on Bitcoin, including Michael Saylor’s tech company MicroStrategy.

Berenberg sets bullish price targets for micro strategy

Key takeaways

Traditional Fi lives on through DeFi

Will Wall Street end crypto anarchy?

Crypto Development Barriers

Anyone involved in traditional investment channels such as Wall Street or investing in cryptocurrencies should be aware of the paradigm shift taking place in the crypto world. The entry of major players like BlackRock and Fidelity into the crypto market signals the beginning of the end of lawless crypto as we’ve always known it.

In the past, cryptocurrencies have largely survived by word of mouth. There are no strict rules.

Mitsubishi UFJ Financial Group (MUFG) is in talks with the company behind the popular global stablecoin to issue a stablecoin through the Japanese banking giant’s blockchain platform.

Japanese banking giant in talks to issue stablecoin

Japan’s stablecoin law, one of the first among major economies, came into effect on January 1, and only the country’s licensed banks, registered remittance agents and investment companies can issue tokens.

Tatsuya Saito, the bank’s vice president of products, said in an interview that MUFG is in talks with multiple parties to use the blockchain platform Progmat to print foreign currency stablecoins, including the U.S. dollar, for global use.