Market Snapshot
As of March 3, the cryptocurrency market remains stable with mixed movements across major assets:
- BTC: $48,652.99 (-0.1% daily)
- ETH: $1,509.72 (-2.79% daily)
- LTC: $183.31 (+2.33% daily)
- OKB: $17.36 (+0.98% daily)
Top gainers on OKX include ANT (+17.85%), DHT (+16.98%), and MXT (+16.26%).
👉 Track real-time crypto prices on OKX
Trading Insights (BTC)
- Open Interest: $2.29B
- Long/Short Ratio: 1.12
- Elite Traders: 52% long, 43% short
Industry Updates
1. Ethereum Whale Activity Hits 6-Week High
- Santiment reports the top 10 non-exchange ETH wallets added 1.03M ETH on March 1 — the largest single-day increase in 6 weeks.
2. Discover Financial Ventures into Crypto
- The U.S. credit card giant seeks a Blockchain Product Manager to develop its cryptocurrency roadmap, signaling formal entry into the digital asset space.
3. VanEck Bitcoin ETF Advances
- State Street appointed as fund administrator for VanEck’s pending Bitcoin ETF, following CBOE’s 19b-4 filing for SEC approval.
4. Canada’s Evolve Files for Ethereum ETF
- ETHR, Evolve’s proposed Ethereum ETF, aims to provide regulated exposure to ETH. The firm manages over $1.6B in assets.
5. SEC Leadership on Crypto Innovation
- Gary Gensler, nominee for SEC Chair, testified that cryptocurrencies act as a "catalyst for change", balancing innovation with investor protections.
6. Bitfarms Expands Mining Capacity
- Ordered 48,000 MicroBT miners, targeting 8 EH/s by 2022. Current output: ~5.7 BTC/day at 1 EH/s.
FAQs
Q: How does whale activity impact ETH prices?
A: Large accumulations by whales often signal confidence but can also indicate potential market manipulation.
Q: What’s the significance of a Bitcoin ETF?
A: ETFs provide institutional investors with regulated, accessible exposure to BTC, potentially boosting mainstream adoption.
Q: When will VanEck’s ETF launch?
A: Pending SEC approval — timelines vary, but CBOE’s filing is a critical step.
👉 Explore crypto investment strategies on OKX