🗞 Daily Crypto News, March, 30th💰

Welcome to the Daily Crypto News: A complete News Review, Coin Calendar and Analysis. Enjoy!

🗞 Bitcoin jumps past $59K as PayPal launches crypto payments at 29M merchants

Bitcoin (BTC) neared $60,000 on March 30 after PayPal confirmed that it had formally launched cryptocurrency payments.

The company caused a stir last year when it confirmed its venture into crypto, with the rollout ultimately set to extend to all users and 29 million merchants.

“This is the first time you can seamlessly use cryptocurrencies in the same way as a credit card or a debit card inside your PayPal wallet,” President and CEO Dan Schulman told Reuters.

PayPal: Crypto is now "legitimate funding source"

Data from Cointelegraph Markets Pro and Tradingview showed BTC/USD hitting a ten-day high on Tuesday as details appeared in the mainstream press.

According an exclusive report from Reuters, PayPal is set to release a formal announcement later on the day in which it will unveil its long-awaited cryptocurrency payment feature for U.S. customers.

Woo: Bitcoin heading to "millions of dollars"

Long a skeptic, PayPal's official line now chimes with some of Bitcoin's most forward proponents. Among the most bullish long-term forecasts this week was that from statistician Willy Woo, who in an interview said that a single Bitcoin would ultimately become worth "millions of dollars."

🗞 Tether Takes Step Toward Transparency With First Accounting Firm Report Card

Tether, the world’s largest stablecoin issuer, published an attestation on Tuesday verifying that it had $35 billion in the bank backing a similar amount of its USDT token last month.

Produced by Cayman Islands-based accounting firm Moore Cayman, the document examines Tether’s holdings as of Feb. 28, 2021 at 23:59 UTC, finding that the company had at least $35.28 billion in total assets, against total liabilities of $35.15 million.

Tuesday’s attestation is the first third-party verification Tether has produced indicating its reserves match the amount of USDT in circulation since 2018, the first from an actual accounting firm since September 2017, and by far the least equivocal of the bunch. As such, it may help resolve some longstanding questions about the stablecoin’s backing.

🗞 Cryptocurrency Fund Flows Now at Lowest Since October 2020

Here’s some free advice for the Honda Motor Company: Market your cars to the newly bitcoin rich.

I’ve already got the ad copy for you.

A true bitcoiner is building for the future and deferring gratification. She doesn’t blow her hard-earned savings on flashy toys. She prefers a solid, dependable family car.

Flows into digital asset investment products declined by roughly $79 million to $21 million during the seven-day period through March 26, the lowest since October, according to a new report by CoinShares, a digital asset investment firm.

Slowing investor appetite for cryptocurrency funds reflects sideways price action in bitcoin (BTC). The cryptocurrency has traded between $50,000 and $60,000 over the past week.

“Investor appetite for digital assets has waned in recent weeks as volatility remains high and the price trades sideways,” CoinShares wrote in the report.

“We have recently witnessed a significant reduction in inflows, and in some cases outflows, for the larger and longer-established pre-2016 investment products,” according to the report. "We believe this is due to investors sitting on multi-year gains taking profits."

Investment flows in the U.S. are slowing, while Europe and Canada continue to hold up.

🗞 DeFi TVL sets new record as BSC-powered protocols add billions

According to data aggregator DeFi Llama, nearly $79 billion in assets are currently locked in decentralized finance protocols.

As such, DeFi’s TVL is currently equal to roughly twice the capitalization of third-ranked crypto asset Binance Coin, nearly one-third of Ethereum's market cap, and on-par with the capitalization of top 200-ranked global company Snap Inc — the company behind Snapchat.

The majority of TVL growth for the past week appears to have been driven by a handful of platforms, with only three of the sector’s 10-largest protocols posting growth.

Binance Smart Chain-native DApps continue to lead the sector’s growth, with fourth-ranked PancakeSwap adding roughly 29% or $1.3 billion to its TVL last week. Newcomer stablecoin DEX, Ellipsis Finance, has also attracted significant capital — representing $1.9 billion and ranking 13th by TVL less than one week after launching.

🗞 Daily Crypto Calendar, March, 30th💰

Pundi X (NPXS)

"As previously announced, the token redenomination will commence at 14:00 GMT+8... we've chosen PUNDIX as the token ticker..."

SparkPoint (SRK)

SparkSwap Early Preview Launch on binance (#BSC).

General Event (CRYPTO)

Blockchance Conference 2021 from March 30th to April 1st in Hamburg.

Shopping.io (SPI)

SPI token will be listed on CEX exchange.

SAND (SAND)

"Introducing... #TheSandbox Marketplace Beta... Launches 30th March"

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