“Bitcoin price today, March 14: Surges above $24,000 after a series of bank collapses”

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“Bitcoin price today, March 14: Surges above $24,000 after a series of bank collapses”

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  • Update:
    14/03/2023
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Today’s Bitcoin price surges above $24,000 USD/BTC, with the total market value remaining stable at $1 billion USD.

The Bitcoin price index recorded on March 14, 2023 (Source: CoinDesk).

As of 7:50 am, the Bitcoin price recorded at $24,287.07 USD, up 7.32% from 24 hours ago.

In the market, only 84 out of the top 100 cryptocurrencies have increased in value in the past 24 hours.

Overview of the digital currency market on March 14, 2023 (Source: Coin360).

Among them, Conflux had the highest increase of 33.70% in one day.

The biggest decrease was in Unus Sed Leo, which dropped 8.79%.

Among the top 10 cryptocurrencies by market value, 7 out of 10 have increased in value compared to 24 hours ago.

Top 10 digital currencies by market value on March 14, 2023 (Source: CoinMarketCap).

Ethereum increased by 3.53% from 24 hours ago, reaching $1,682.88 USD.

Tether decreased slightly by 0.49%, down to $1.00 USD.

BNB increased by 5.4% in one day, recording at $309.04 USD.

USD Coin increased by 0.47% in the past 24 hours, up to $0.9992 USD.

Ripple decreased by 1.39% in one day, recording at $0.3724 USD.

Cardano increased to $0.3452 USD, up 1.02% from 24 hours ago.

Polygon increased by 2.24% in the past 24 hours, up to $1.20 USD.

Dogecoin reached $0.07299 USD after a 1.51% increase in one day.

Binance USD decreased by 0.39% in the past 24 hours, recording at $1.00 USD.

The total market value of cryptocurrencies recorded at 8:00 am was $1.0743 trillion USD, up $46.09 billion USD from 24 hours ago.

The 24-hour trading volume on the market remains high at $93.4 billion, up 33.73% from March 13th.

The FBI and New York authorities are investigating the collapse of TerraUSD. The US Department of Justice is said to be investigating the collapse of the stablecoin TerraClassicUSD (USTC), which caused a loss of $40 billion on the Terra ecosystem in May.

The two agencies within the Department of Justice, the Federal Bureau of Investigation (FBI) and the Southern District of New York (SDNY), have been working with former Terra Labs employees in recent weeks, according to the Wall Street Journal on March 13th.

The investigation has a scope similar to the legal case against Terraform Labs and founder Do Kwon by the SEC on February 16th, according to sources close to the matter.

The questioning is about the relationship between the South Korean payment platform and the Terra blockchain on which USTC operates.

The SEC alleges in the case that Kwon misled investors into believing that transactions on Chai were processed on the Terra blockchain. The SEC also alleges that Kwon misled investors about the risks of this algorithm-based stablecoin, designed to be pegged 1:1 to the USD.

Tech giant Meta is currently pulling NFT features from social media platforms like Facebook and Instagram about 10 months after launching.

Stephane Kasriel, Meta’s Chief Commercial and Financial Technology Officer, announced on March 13th that the company is now “sunsetting” NFTs to “focus on other ways to support creators, users, and businesses.”

Kasriel stated that the company is still prioritizing ways for users to “connect with fans and earn money” and will focus on tools like building a payment system on the platform and through messaging apps, along with monetizing Reels, short videos on Facebook and Instagram.

Specifically, Kasriel mentioned a focus on Meta Pay, Meta’s payment platform, which may support cryptocurrency payments based on copyright records as early as May.

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