The surge in trading activity has helped to revitalise BNB, which is adding over 4% for the day. It has gained 25% in 7 days, twice that of Ethereum and three times ahead of Bitcoin during this interval. However, like Ether, it is about 15% away from the record highs of late 2021.

Crypto News

BlackRock’s spot BTC-ETF iShares Bitcoin Trust (IBIT) managed to accumulate almost 200,000 bitcoins in two months, becoming one of the largest holders of BTC in the world and surpassing MicroStrategy, which has 193,000 BTC on its balance sheet.

According to The Block, investors have built up a substantial volume of open positions with an expiry price of $70K on Bitcoin call options redeemable on 29 March. Bets on BTC rising to $80K over the next three weeks have also increased.

According to Bloomberg data, bitcoin miners set a monthly record for energy consumption. They consumed a record 19.6 GW of electricity in February, up from 12.1 GW in the same period a year earlier. The rise in BTC has prompted mining companies to spend more than $1bn on new equipment over the year.