Hello Snapshotters,
What a week. On Tuesday, Bitcoin set a new all-time high (ATH) of $69,325 while Ethereum crossed $4,000, surpassing Mastercard’s market cap. And based on historical data, it’s not surprising that this led to a knock-on effect for altcoins, as meme coins are rallying.
Get the details below.
Market Spotlight
Note: Market prices captured in USD at the time of sending. Explore more on Crypto.com/Price.
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News Snaps
🏆 Bitcoin Sets New ATH
The crypto community is abuzz with news of Bitcoin (BTC) setting a new all-time high (ATH) at $69,325. After nearly three years, Bitcoin went above its previous ATH of $68,789 on Tuesday, a day that will go down in infamy.
🚀 Meme Coins Are Rallying
The total market cap of meme coins has crossed $65 billion. Tokens like DOGE, BONK, and PEPE are rallying, while new Solana meme coin dogwifhat (WIF) gained rose over 1000% in the past month. Check out our Meme Coin Tracker to see the price action.
💳 Ethereum Crosses $4,000, Overtakes Mastercard
Ethereum has crossed the $4,000 threshold for the first time in two years, and now has a higher market cap than Mastercard.
👾 2nd-Most Expensive CryptoPunk Ever Sold
Earlier in the week, the second-most expensive CryptoPunk ever sold for 4,500 ETH, worth over$16 million. The sale was of CryptoPunk #3100, one of the nine so-called ‘Alien Punks’.
📈 Grayscale Introduces Staking ETF
Grayscale, the investment firm behind one of the spot Bitcoin ETFs, has introduced a new fund that stakes nine different cryptocurrencies to earn income.
What’s Ahead
Bitdeer’s 4nm Bitcoin Mining Chip
The Nasdaq-listed Bitcoin mining firm says it has successfully tested a new Bitcoin mining chip for its upcoming mining rig, the Sealminer A1. Bitdeer Technologies stated that it hopes to support the community in time for the upcoming Bitcoin halving event.
Number of the Week
Chart of the Week
U.S. spot Bitcoin ETFs are climbing the ETF leaderboard, with BlackRock, Fidelity, and ARK Invest ranking in the top 10. BlackRock’s ETF (IBIT) surpassed the largest silver ETF, ranking third.
Research & Insights
Monthly Feature Article | AI Tokens
The year kicked off with fresh developments and new milestones in the artificial intelligence (AI) industry, leading to resurging optimism in the space.
In this report, you’ll find market caps of the top AI tokens, an overview of the current crypto x AI landscape, and an intro to AI agent and decentralized compute tokens.
Read the full report here.
Crypto Trivia
How many phases are there in a crypto market cycle?
1) Two: the bull and bear market
2) Three: the bull, distribution, and bear phase
3) Four: the accumulation, bull, distribution, and bear phase
NFT Spotlight
Prepare for an extraordinary cosmic celebration, where the melodies of the Universe converge on the enchanting rings of Saturn and its moons. The music of the cosmos dances among the stars in Zinkete’s ‘Sound of Saturn 3024’, an NFT collection consisting of 36 different pieces showcasing the artists who interpret their music during the Sound of Saturn Festival.
Dropping on Monday, March 11, the celebration includes 🪂 NFT airdrops, 👤 custom NFT airdrops, 🥋 hoodies, 👕 T-shirts, 🧢 caps, and 🎣 fisherman hats. Early access for holders of previously released ‘Class of 3022’ or ‘Dark Side of The Moon Festival 3023’ collections starts 60 minutes before the scheduled drop time.
Let the music of the cosmos envelop you. Or head back in time: 3023 3022
Product Picks
Enjoy up to 10% p.a. on USDC With Earn Plus
Earn Plus now offers a higher reward rate of 10% p.a. for USDC allocations. You can allocate$1 million to Earn Plus on top of the existing Crypto Earn allocation limits, enabling you to earn more. Allocate now to earn high rewards.
Get Free Apple Gear With a Crypto.com Visa Card
Until April 2, 2024, every Crypto.com App user who applies for or upgrades their Crypto.com Visa Card and meets the CRO Net Buy requirement will receive up to 100% rebate for purchasing their favorite Apple gear, from the iPhone 15 Pro to a MacBook Pro to a Vision Pro. Terms and conditions apply. Learn more.
Crypto Level Up
How to Calculate ROI for Cryptocurrency
Return on Investment (ROI) is a tool that compares your asset’s current value to its original value. Essentially, it’s a way to measure your gains.
Here’s how you can calculate it for your cryptocurrency holdings.
ROI Formula
Return on Investment Percentage = [(Current Asset Value – Initial Asset Value) / Initial Asset Value] x 100
ROI Example
Let’s assume you purchased 1 BTC at $10,000. Its value is now $60,000.
This is what your ROI is: [(60,000 – 10,000)/10,000] x 100 = 500%.
Learn all about calculating your crypto ROI.
CryptoIRL
Even Lions like to fly. Here, the Crypto.com Jade Green Visa Card enjoys the view from above with @durham1314.
Hashtag #CryptoIRL with your Crypto.com Visa Card on your social profiles to get featured! Your 15 minutes of fame in the #CROFam awaits you!
Security Tips
Axie Infinity Co-Founder Loses 3,248 ETH in a Hack
Jeff Zirlin, co-founder of Axie Infinity and the Ronin Network, lost 3,248 ETH across two cryptocurrency wallets after they were hacked in February. It is suspected his wallets’ private keys were leaked, which led to this incident.
Here’s how to protect your cryptocurrency wallet and private keys:
Offline Storage
Hardware wallets are physical devices specifically designed to store private keys securely offline. Using a hardware wallet greatly lowers the chance of hackers accessing them online.
Keep Your Software Updated
This applies to all your devices’ operating systems and the applications in them. Updates contain security patches, helping to prevent hacks.
Use Multi-Factor AuthenticationEnhance your current login process and transaction verification by adding another layer of authentication. This includes biometric scanning or inserting a hardware token, for example.
Crypto Trivia Answer
A crypto market cycle consists of four phases — the accumulation, markup (bull), distribution, and markdown (bear) phases.
That’s it for this week’s Snapshot. Want more? Find out what’s trending in the crypto world.
