A Bitter-Tweet Moment — March 11

Chart of the Day

Whale Alert: 1 billion USDT and 51 million USDC were minted at the Tether and USDC Treasury today. Meanwhile, the price of Bitcoin climbed above the $55k and $57k resistance levels — just a breath away from setting a new all-time high, before falling slightly short. The price is consolidating above the $55k level as of the time of writing. The inflow of stablecoins, which plays an instrumental role in value transfer, is crucial in sustaining strong upward momentum, especially when institutional inflow seems to have plateaued.

Talk of the Town

Talk about a bitter-tweet moment: Twitter suspended at least seven accounts of crypto influencers on Wednesday; two accounts have since been recovered. The social media platform’s response to the (wrongful) suspensions states that the accounts were flagged as spam by mistake by an automated system. Other accounts remained suspended on the ground of ‘violating Twitter Rules’.