According to insiders, Russia is utilizing cryptocurrency to trade oil, Bitcoin surpassed $83,000 on March 17, an ECB member voiced concerns about the US’ cryptocurrency reserve, and is Donald Trump’s family purchasing Binance? Here, we provide you with the most recent crypto news.
The current price of bitcoin: According to data on CoinMarketCap, the largest cryptocurrency in the world is trading higher at $83,693.28, with a market capitalization of $1.66 trillion, at market open today, March 17. According to the data, Bitcoin’s trade volume increased 77% to $22.92 billion in the last day.
After the token fell below $80,000 on Friday, March 14, but managed to hold steady over the weekend, this is encouraging
March 17 Cryptocurrency Prices: Dogecoin, Ether, Tether, and Solana
At 9.30 am on March 17, the price of Ether, the second-largest cryptocurrency, was $1,909.53 with a market value of $230.33 billion. Tether, a US dollar-linked stablecoin with a market valuation of over $143.47 billion, has maintained its $1 price. With $51.65 billion in trade volumes during the last day, USDT is the most traded cryptocurrency in the world.
On March 17, Solana and Dogecoin, two popular cryptocurrency, were both up at $129.06 and $0.1731, respectively
Expert Opinion on Bitcoin and Crypto Markets
Bitcoin and the cryptocurrency market as a whole are undergoing turbulence ahead of the US Federal Reserve’s interest rate decision, according to Avinash Shekhar, co-founder and CEO of Pi42.
While attitude is changing as the Crypto Fear and Greed Index drops to 22, indicating greater uncertainty, Bitcoin is now trading close to $83k and could find upside if it breaks a significant resistance level. Investors are cautious after the $100K to $77K drop, but there is hope that it will just be a temporary one and not a long-term decline, he continued.
Shekhar said that the market is “internalizing macroeconomic factors and technicals” and that “market participants are eyeing breakout catalysts” in reference to the pressure on Ethereum and Dogecoin.
According to him, the institutional demand for cryptocurrency is “still robust,” and the course of the cryptocurrency world over the coming weeks will be determined by Bitcoin’s future moves
Risks Bringing Next Financial Emergency," says an ECB member on the US Crypto Reserve.
On March 16, European Central Bank (ECB) Governing Council member Francois Villeroy de Galhau warned against the U.S. cryptocurrency reserve, according to Bloomberg.
The United States risks sinning through negligence,” de Galhau stated in an interview with the French weekly La Tribune Dimanche. The United States is frequently the starting point for financial crises that spread to other countries. By promoting non-bank financing and crypto-assets, the US government is planting the seeds for more revolutions.
He pointed out that oversight was more robust and safeguarded against any banking crisis on the EU’s end. His remarks follow US President Donald Trump’s signing of an executive order this month that calls for the establishment of a Strategic Bitcoin Reserve and an additional digital asset stockpile.
Are Donald Trump and Binance US in talks?
Representatives of US President Donald Trump’s family have “held talks” about acquiring a stake in the US branch of cryptocurrency exchange Binance, according to reports from the Wall Street Journal and Reuters. According to the WSJ article, billionaire founder Changpeng Zhao has been urging Donald Trump to pardon him, and Binance had approached him with a contract in 2024 in an attempt to revive the “exiled” business.
Currently, it is uncertain if the agreement will be completed. The Reuters story also noted that representatives for Binance and Trump did not answer questions.
Russia Trades Oil with China and India Using Cryptocurrencies: Report
Russia is using cryptocurrencies to sell oil with China and India and get over European restrictions on the sector, according to a Reuters story that cited four individuals.
According to stated sources, some Russian oil corporations are trading Chinese yuan and Indian rupees for Russian rubles by converting them into cryptocurrency tokens like Bitcoin, Ether, and Tether. This was characterized as a “small but growing part of Russia’s overall oil trade” in the report. It also stated that the value of the nation’s oil industry in 2024 was $192 billion.
According to the report, Russia’s central bank declined to comment. Nonetheless, the sources stated that because it is a “convenient tool and helps run operations faster,” the practice is probably going to continue
FAQ
As of March 17, Bitcoin is trading at $83,693.28 with a market capitalization of $1.66 trillion. The trade volume has surged by 77% to $22.92 billion in the last 24 hours.
Yes, according to reports, Russia is using cryptocurrencies like Bitcoin, Ether, and Tether to conduct oil trades with China and India, bypassing European restrictions.
ECB member Francois Villeroy de Galhau warned that the US crypto reserve could pose financial risks, potentially triggering economic crises that may affect other nations.
Reports suggest that Trump’s family representatives have been in discussions about acquiring a stake in Binance US, but no official confirmation has been made.
On March 17, Ethereum was trading at $1,909.53, Tether maintained its $1 peg, Solana was priced at $129.06, and Dogecoin was at $0.1731
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