Hello MarketShalians, Welcome back to MarketShala’s weekly Crypto Crush Article. In this segment, we will expose the hot happenings that are keeping the current crypto market on the move and also do a short but important analysis of one such crypto coin which is or trying to become the talk of the town in the crypto world. Let’s start with this week’s Crypto Bullets and see whether these bullets have protected cryptocurrencies or hurt them.
Table of Contents
Weekly Crypto Bullets
1. Binance CEO Praises Japan’s Crypto Regulations Amid Reform Discussions
Let’s start with a positive update that Binance CEO Richard Teng has praised Japan’s transparent and well-structured crypto regulations. He highlighted the country’s fast crypto adoption. Speaking at the Global Financial Technology Network Forum, Teng said that last year 11 million people in Japan had crypto accounts. Teng stressed the need for clear and transparent rules, saying that clear and transparent rules are essential for the long-term and safe development of the crypto industry. Japan’s crypto regulatory framework falls under the Financial Services Agency (FSA), which works to ensure safety and transparency through the Payment Services Act (PSA) and the Financial Instruments and Exchange Act (FIEA).
2. Crypto ETPs record $2.9 billion outflow, signs of increasing uncertainty in the market
It’s a matter of a serious concern that Crypto Exchange-Traded Products (ETPs) witnessed the biggest weekly sell-off, with an outflow of $2.9 billion. Bitcoin was most impacted by this. Bitcoin saw a withdrawal of $2.6 billion. According to CoinShares research head James Butterfill, several factors are responsible for this heavy outflow. Like Bybit’s $1.5 billion security breach, US Federal Reserve’s aggressive interest rate stance and breaking of the previous 19-week inflow streak are some of the major reasons for this crypto ETP slaughter. A total outflow of $3.8 billion has been seen in the last 3 weeks, which is a negative signal for market sentiment.
3. Metaplanet increased its Bitcoin holdings, made a new investment of $13.4 million
It is great to hear that Japanese investment firm Metaplanet has purchased 156 BTC more, whose total cost is $13.4 million. After this new purchase, the company’s total Bitcoin holdings have reached 2,391 BTC. Metaplanet has been accumulating Bitcoin since April 2024 and its target is to hold 10,000 BTC by the end of 2025 and 21,000 BTC by 2026. Currently its total Bitcoin investment is $196.3 million, with an average cost of $82,100 per BTC.
4. Swiss National Bank refused to make Bitcoin a reserve currency
It will be considered a bad news for the Crypto world that Switzerland’s central bank has rejected a proposal to include Bitcoin in its reserve currency. Swiss National Bank (SNB) Vice President Martin Schlegel has called Bitcoin unstable and illiquid and considered it unsuitable for a reserve currency. In an interview with Tamedia media group, Schlegel said that cryptocurrencies do not fulfill the essential requirements of a stable currency. If Switzerland wants to move forward with a proposal to make Bitcoin a reserve asset, it will need 100,000 signatures, only then an official referendum can be conducted.
5. Nexo and Sphere Partner to Modernize Cross-Border Payments Through Blockchain
In a positive update, digital asset wealth platform Nexo and fintech company Sphere have announced a strategic partnership to help make cross-border business payments better and faster. The partnership will enable fast, low-cost and regulatory compliant transactions through blockchain-based payment solutions. It will particularly support businesses that operate in high-inflation regions.
Nexo’s digital asset expertise and Sphere’s scalable infrastructure will together work to reduce settlement times from days to hours. The collaboration will streamline treasury management and provide seamless currency conversion for businesses. Sphere is one such tech-driven company that is moving towards simplifying global payments through efficient and regulatory compliant programmatic banking solutions.
6. FBI blames North Korean Lazarus Group for Bybit Hack
The US Federal Bureau of Investigation (FBI) has blamed the North Korean Lazarus Group for the recent biggest crypto hacking that took place on the Bybit exchange. The Lazarus Group has been blamed for the $1.5 billion Bybit hack. The hack took place on February 22 and is considered one of the biggest scams in the crypto industry.
The FBI has described the attack as part of the “TraderTraitor” campaign, which is a part of North Korea’s cryptocurrency heist strategy. The impact of the hack was so big that it has been included in the list of the biggest cybercrime incidents of last year. Blockchain investigator ZackXBT had earlier named Lazarus Group as the mastermind of this hack, which has now been confirmed by the official statement of the FBI. The crypto community is also looking at this hacking incident as a major reason for the bearish trend of the market.
Pi Coin – Coin of the Week
Introduction
Pi Coin crypto has become a very hot topic these days, and its unique mining system and strong community backing make it even more interesting. Some people are seeing it as the next big cryptocurrency, while some are skeptical about its future. By 2025, will Pi Coin become a major crypto player or just remain another speculative trend? Let’s find out the truth with real data, facts, and expert opinions.
What is Pi Coin? A Small Light
Pi Coin was launched in 2019 by Dr. Nicolas Kokkalis, a Stanford PhD and blockchain expert. The vision of Pi Network was to make cryptocurrency accessible to everyone, and people could mine Pi Coin from their mobile phones without any expensive hardware and excessive energy consumption.
Pi Coin Inception and Development
Unlike Bitcoin, which requires high-powered mining rigs, Pi Coin can be mined through a mobile app, using a unique consensus mechanism called Stellar Consensus Protocol (SCP). As of 2019, the Pi community has grown to over 40 million users, making it one of the biggest projects in the crypto industry.
Who is supporting Pi Coin?
The Pi Network has attracted the attention of many crypto influencers and blockchain enthusiasts. Some of the well-known people who have talked about Pi Coin are as follows:
• Michael Saylor (MicroStrategy): Although he has not directly endorsed Pi Coin, he has supported mobile-based mining models as a good concept of on which Pi Coin and it’s network is based.
• Crypto YouTubers and Analysts: Influencers such as Altcoin Daily and BitBoy Crypto have analyzed the potential of Pi Coin which has supported its community enhancement.
• Community-Driven Marketing: Unlike traditional cryptos, most of the promotion of Pi is done by its own users, who are increasing its awareness through social media and word-of-mouth.
How is Pi Coin mined?
Pi Coin mining is different from traditional crypto mining.
• Users can earn Pi simply by using the mobile app.
• It does not require any energy-intensive mining rigs, so it is more sustainable than Bitcoin.
• Mining rate decreases over time to maintain scarcity, similar to Bitcoin’s halving model.
Click Here or use this link and referral code (SomShubh) to earn 1 free Pi Coin as reward to start your journey with the Pi Coin: https://minepi.com/SomShubh
Is this Pi Coin Mining Process Authentic?
The Pi mining process is unique but there are some concerns:
• Its positive aspects are that it is easily accessible due to no-cost mining.
• The main reason for skepticism is that since Pi Coin is not yet traded on major exchanges, its real value is uncertain. But according to reports, it may soon be visible to you on major exchanges like Binance.
Pi Coin Final Verdict: Is it safe to invest in Pi Coin?
Pi Coin has a large community, innovative mining system and strong future potential. But it still needs real-world adoption and trading proof. If you are thinking of investing in Pi:
✅ Pros:
• Free mining, accessible to all and there is nothing to lose at the end.
• Large and active community is associated with Pi Coin.
• Strong development team
❌ Cons:
• Not listed on major exchanges yet
• Real-world utility is still a little unclear
• Regulatory risks are there as it is with every crypto currency.
Conclusion
So this was our midweek Crypto Crush dose where we shared some important news of this week related to the crypto world and shared our analysis about Pi Coin under the Coin of the week segment. In the end, I would just like to tell that whether Pi Coin can become a big name in the crypto industry by 2025 or can remain a speculative investment, time will tell about it. But the way you can mine it and earn for yourself and also earn referral coins by promoting the community further, it seems that even if no miracle happens in the future, you will not suffer any loss. But on the other hand, if Pi Network fulfills its promises, then it can also prove to be a major crypto success story. But as in every investment, do your research and move forward with the goal!
Click Here and start your journey to invest in your first crypto currency.
Click Here and start your journey to invest in your first Stock, Index, Commodity and move ahead with your wealth creation journey.
Disclaimer
The content on MarkShala.com is intended for educational and informational purposes only. We specialize in writing blogs on financial planning, investment strategies, economic trends, and related topics. While we strive to provide accurate and reliable information, the content should not be taken as professional financial, investment, or legal advice.
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