Crypto Market Recap: Bitcoin sees Record Price Drop, 24/7 Futures Trading Coming to Coinbase
Here’s a quick recap of the crypto landscape for Monday (March 10) as of 9:00 p.m. UTC.
Bitcoin and Ethereum price update
Bitcoin (BTC) is currently trading at US$78,955.60, reflecting a 4.5 percent decrease over the past 24 hours. The day’s trading range has seen a high of US$82,763.28 and a low of US$77,494.60.
Ethereum (ETH) is priced at US$1,864.19, marking a decrease of 8.7 percent over the same period. The cryptocurrency reached an intraday high of US$2,113.22 and a low of US$1,829.01.
Altcoin price update
- Solana (SOL) is currently valued at US$119.32, down 7.7 percent over the past 24 hours. SOL rose to a high of US$127.93 and later fell to a low of US$116.08 on Monday.
- XRP is trading at US$2.07, reflecting a 4.4 percent decrease over the past 24 hours. The cryptocurrency recorded an intraday high of US$2.18 and a low of US$2.
- Sui (SUI) is priced at US$2.13, down 8.9 percent over the past 24 hours. It achieved a daily high of US$2.35 and a low of US$2.07.
- Cardano (ADA) is trading at US$0.6877, reflecting a 6 percent decrease over the past 24 hours. Its highest price on Monday was US$0.7319, with a low of US$0.6638.
Crypto news to know
Bitcoin sees biggest US dollar drop in a single week
Coinbase announced today (March 10) that it would begin offering 24/7 Bitcoin and Ethereum futures contracts and perpetual-style futures contracts, marking a first for both the company and the industry.
“We have been actively working with the (Commodity Futures Trading Commission), partners, and market participants to finalize the design and to ensure this product meets regulatory requirements as well as client needs,” the company said in a press release. Both are slated to launch in the coming weeks, but no launch date has been announced.
Coinbase to offer 24/7 Bitcoin and Ether futures in the US
Coinbase announced today (March 10) that it would begin offering 24/7 Bitcoin and Ethereum futures contracts and perpetual-style futures contracts, marking a first for both the company and the industry.
“We have been actively working with the (Commodity Futures Trading Commission), partners, and market participants to finalize the design and to ensure this product meets regulatory requirements as well as client needs,” the company said in a press release. Both are slated to launch in the coming weeks, but no launch date has been announced.
Michael Saylor shares his newest strategy
On March 10th, Strategy, formerly MicroStrategy, announced a new sales agreement, called the ‘ATM Program,’ to raise US$21 billion in capital by issuing and selling shares of its 8 percent Series A perpetual strike preferred stock.
The funds raised will be used for general business operations and potentially to purchase more Bitcoin. According to its filing with the US Securities and Exchange Commission, the company plans to sell these shares gradually, considering market conditions, and will use the proceeds for various corporate purposes, including Bitcoin acquisitions.
Previously, Strategy was known for directly purchasing Bitcoin with its existing capital or through debt offerings.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.