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Bithumb has announced the temporary suspension of deposits and withdrawals for Nillion (NIL) starting at 2:00 a.m. UTC on March 17 to support the token's network transition.

An anonymous whale address has withdrawn 1,140 BNB ($770,000), 12,883 AAVE ($1.53 million), 545 ETH ($1.23 million), and 62,898 LINK ($600,000) from Binance, Onchain Lens reported. The whale's current holdings include 23,683 AAVE ($2.82 million), 1,005 ETH ($2.26 million), 51,190 HYPE ($2.01 million), 2,090 BNB ($2.01 million), 115,889 LINK ($1.11 million), and 7.85 million ENA ($920,000).

Iran's foreign minister said the country has never asked the U.S. for a ceasefire and that its resistance will continue, Walter Bloomberg reported.

Growing tensions in the Middle East, including the potential closure of the Strait of Hormuz and the threat of war involving Iran, are highlighting the vulnerability of critical global infrastructure more than ever. If the undersea cables that carry 99% of the world's data traffic were to face a physical attack, could Bitcoin survive? The CoinNess Daily Report selects and analyzes one key crypto industry issue each day. Stay informed with CoinNess.

Japanese listed company Metaplanet, which has been accumulating Bitcoin, has announced a revision to its capital allocation policy. The company stated that the recent decline in BTC prices, which brought its modified Net Asset Value (mNAV) to around 1x, necessitated greater flexibility in its capital policy. Under the revised plan, Metaplanet will seek to maximize its BTC yield by utilizing perpetual preferred stock. It will also implement a strategy of buying back its own shares to increase BTC holdings per share whenever its mNAV drops below 1x. Additionally, the company plans to use Bitcoin-backed credit lines as a supplementary funding source but intends to manage its borrowing conservatively. Metaplanet CEO Simon Gerovich said the company recently secured approximately 40.8 billion yen ($258 million) through a fundraising round with global institutional investors. He noted that the new share issuance was conducted at a price reflecting a premium of about 2% and that the structure allows for a potential fundraising total of up to 85.3 billion yen ($540 million). The secured funds will be used to expand its Bitcoin treasury strategy, Gerovich added.

South Korea's Financial Intelligence Unit (FIU) has imposed a six-month partial business suspension and a 36.8 billion won ($28.3 million) fine on cryptocurrency exchange Bithumb, Money Today reported. The FIU operates under the country's Financial Services Commission. Under the suspension, existing customers can continue to trade without restrictions. New customers will face temporary limits on external crypto asset transfers but will still be able to trade, exchange assets, and deposit or withdraw Korean won. The FIU has issued a preliminary notice of the fine and will finalize the amount after providing Bithumb with a period of at least 10 days to submit its opinion.

Stablecoins are establishing themselves as the core infrastructure for on-chain finance, according to a CryptoQuant contribution from crypto analyst XWIN Research Japan. The analyst noted that on-chain data shows the number of active ERC-20 stablecoin addresses has increased rapidly in recent years, with their use expanding across various sectors including trading, payments, and DeFi. The current stablecoin market capitalization is around $300 billion, with USDT and USDC serving as the primary sources of liquidity. Their use cases vary globally. In high-inflation countries like Nigeria, they function as a digital dollar, while in India and the Philippines, they are used for overseas remittances. In the U.S., their main use is to supply liquidity to financial markets. Meanwhile, Japan is also seeing expanded adoption of yen-based stablecoins like JPYC following recent regulatory developments, the analyst added.

South Korean crypto exchange Bithumb announced it has placed Venus (XVS) on its delisting watchlist.

According to CoinNess market monitoring, BTC has fallen below $73,000. BTC is trading at $72,921.82 on the Binance USDT market.

An address belonging to Erik Voorhees, CEO of crypto trading platform ShapeShift, has accumulated 33,544 ETH ($71.2 million) over the past week, ai_9684xtpa reported. The average purchase price was $2,122, leaving the position with a current unrealized profit of $4.23 million.

South Korean crypto exchange Bithumb announced it will temporarily suspend deposits and withdrawals for Akash Network (AKT) starting at 8:00 a.m. UTC on March 23 to support an upcoming network upgrade.

Eugene Ng Ah Sio, known as a top trader on Binance Futures, announced on his Telegram channel that he has switched to a long position. He explained that cryptocurrencies are showing relative strength amid global macroeconomic uncertainty and are attempting to break through key resistance levels. Sio noted this is the first time the crypto market has shown such strength since Bitcoin's drop to $60,000. While he did not buy at the absolute bottom, he believes that going long after a period of range-bound trading minimizes risk. He also pointed out that many altcoins are forming classic "rounded bottoms" patterns. Sio predicted that a full-blown rally could begin if BTC breaks through $74,000, which could see Ethereum (ETH) recover to $2,400 and Solana (SOL) to $100.

Bitcoin is struggling to break out of a range between $60,000 and $75,000 following the recent conflict in Iran, Bloomberg reported. While BTC has performed better than stocks or gold since the conflict, it remains more than 40% below its peak from last October. Wintermute analyst Jasper De Maere noted that despite Bitcoin's rise, bearish sentiment is prevailing, with open interest increasing while funding rates turn negative. He added that lower trading volumes compared to the end of last year make the asset vulnerable to price volatility. Similarly, Andreja Cobeljic, head of derivatives trading at Swiss-based crypto bank Amina, said BTC lacks the momentum for further gains and could see another decline after a temporary relief rally. Bloomberg added that market attention is shifting from cryptocurrencies to commodities and real assets like crude oil and aluminum, which it referred to as "Old Economy Assets."

Although Bitcoin is showing signs of a rebound, the bear market phase does not appear to be over as liquidity has not fully recovered, Bitget CEO Gracy Chen said on X. She noted that while many are asking whether to buy now that BTC has recovered to $74,000, she has previously emphasized the $60,000 to $70,000 range as suitable for dollar-cost averaging (DCA). However, Chen stated that this is not the range to invest all available funds, adding that she personally plans to go "all-in" if BTC falls below $50,000. She advised that while buying now is acceptable, investors should not panic if a 20-30% drop follows. Chen stressed the importance of doing one's own research (DYOR) rather than investing based on others' opinions.

The U.S. Securities and Exchange Commission (SEC) has dropped its lawsuit against Nader Al-Naji, founder of the decentralized social media platform BitClout, Cointelegraph reports. The move was formalized in a joint stipulation of dismissal filed with the U.S. District Court for the Southern District of New York. The SEC originally sued Al-Naji in 2024, alleging he had raised $257 million through the sale of BitClout's native token, BTCLT, while falsely claiming the funds would not be used to pay team member salaries. Cointelegraph noted that the SEC has been retracting its previously hardline stance against cryptocurrency firms under the second Trump administration.

BTC perp long/short ratios on top exchanges by open interest The following are the 24-hour long/short ratios for BTC perpetual futures on the world’s three largest crypto futures exchanges by open interest: Overall: 51.94% long, 48.06% short - Binance: 54.01% long, 45.99% short - OKX: 53.71% long, 46.29% short - Bybit: 51.87% long, 48.13% short

One in four Gen Z Australians invests in cryptocurrency, according to a survey by the Australian Securities and Investments Commission (ASIC), Cointelegraph reported. The survey found that 23% of Gen Z hold crypto, with 29% of those investors making trading decisions based on content from social media and influencers. ASIC noted that Gen Z has a tendency to place excessive trust in low-credibility information, which could lead to risky decisions. The survey was conducted from Nov. 28 to Dec. 10 of last year and included 1,127 respondents between the ages of 18 and 20.

South Korean crypto exchange Upbit announced that it will temporarily suspend deposits and withdrawals for Akash Network (AKT) starting at 11:00 a.m. UTC on March 23 due to a network upgrade.

The Australian Senate Economics Legislation Committee has released a report supporting the government's digital asset regulation bill, Decrypt reported. The bill includes provisions to bring cryptocurrency trading platforms and custody service providers into the existing financial services regulatory framework. The committee praised the legislation as a significant step toward modernizing the supervisory framework for the digital asset industry. Previously, the Australian government has engaged in policy discussions to bring crypto platforms under financial regulation, including mandating that exchanges register with the Australian Transaction Reports and Analysis Centre (AUSTRAC).

Tron founder Justin Sun has transferred 620,000 XVS, worth $1.95 million, to a new address for the first time in over two years, according to a report from ai_9684xtpa. The transfer follows a recent incident where Venus Protocol suffered a $3.7 million loss from a supply cap attack involving the THE token last weekend.

The whale address billΞ.eth (@0xbilly) purchased 7,769 ETH, worth $17.46 million, over the past three hours, according to Onchain Lens.

Bitcoin has broken through its 50-day moving average for the first time in about two months, a sign of strengthening upward momentum, CoinDesk reported. The move follows a period of resilient price action amid the war in Iran and instability in global equity markets, particularly in Asia. Alex Kuptsikevich, an analyst at FxPro, explained that a decisive break above the 50-day moving average could be a significant signal of a trend reversal. However, the outlet noted that past rallies following such a break have not always been sustained. For instance, after crossing its 50-day moving average last January, Bitcoin rose approximately 8% before reversing into a downtrend two weeks later.

Web3 social platform UXLINK has launched Season 7 of its campaign to accelerate the mass adoption of Web3, the company announced. The campaign aims to expand participation in the Web3 ecosystem through various incentives, including a triple mission, up to 50% cashback, and large-scale N-Score rewards. This season, UXLINK introduced a cashback program for AI service subscriptions and a rewards program for spending on its native PayFi platform, FujiPay. Users can receive 50% cashback on their first month's subscription fees for AI services like ChatGPT and Gemini when using their FujiCard. Additionally, users can earn N-Scores through FujiPay: 200 for completing KYC, 300 for topping up $10 or more, and additional scores for payments exceeding $100. Furthermore, users can earn an annual percentage yield of up to 43% based on their UXLINK staking period. The four staking options are: - 30 days: 27% - 60 days: 29% - 180 days: 35% - 360 days: 43% The campaign is designed to reward a diverse range of participants, including heavy AI users, shoppers, and UXLINK holders, for their platform activity.

Katana (KAT), a DeFi-focused blockchain, announced on its official X account that it is conducting a pre-staking program for its native token. The program, which began on March 10, will run for eight weeks and offers a 35% annual percentage rate (APR) for 60 days on the first 350 million KAT deposited. Participants will also receive benefits such as increased voting power and "Founding Staker" status. At the token generation event (TGE), their allocated tokens will be automatically staked, providing additional rewards. Following the TGE, KAT held by pre-staking addresses will be converted into avKAT, an auto-compounding token tradable on decentralized exchanges (DEXs), and then staked.

South Korea's Financial Services Commission (FSC) announced that it is taking follow-up measures against Bithumb following an inspection related to violations of the country's law on specified financial transactions. The FSC stated that the level of any sanctions, including whether to impose a fine and its amount, will be determined after deliberation by a review committee. The commission also refuted media reports claiming it was considering a fine of around 37 billion won ($26.8 million) for Bithumb and reviewing the application of a 10% surcharge, calling the claims untrue.