{"id":59717,"date":"2022-04-06T20:18:40","date_gmt":"2022-04-06T17:18:40","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=59717"},"modified":"2025-09-04T23:25:40","modified_gmt":"2025-09-04T20:25:40","slug":"march-2022-in-numbers-terra-rally-19-million-bitcoins-m-mined-and-russia-sanctions","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/march-2022-in-numbers-terra-rally-19-million-bitcoins-m-mined-and-russia-sanctions\/","title":{"rendered":"March 2022 in Numbers: Terra Rally, 19 Million Bitcoins M mined, and Russia Sanctions"},"content":{"rendered":"<div class=\"wp-block-monthly-reviews-top-blk review_top_blk\">\n<h2 class=\"wp-block-heading\">Key Takeaways<\/h2>\n<ul class=\"wp-block-list\">\n<li>Bitcoin and Ethereum prices reached year-to-date highs.<\/li>\n<li>The outflow of Bitcoin from centralized exchanges accelerated.<\/li>\n<li>On-chain indicators signal improving market sentiment.<\/li>\n<li>In February\u2013March, the Ethereum protocol burned over 330,000 ETH.<\/li>\n<li>The 19,000,000th Bitcoin was mined.<\/li>\n<li>The Terra ecosystem continues to grow rapidly. Luna Foundation Guard acquired more than 30,000 BTC.<\/li>\n<li>Stablecoins\u2019 market capitalization reached $178 billion.<\/li>\n<li>Interest in NFTs is fading.<\/li>\n<li>The DeFi sector partially recovered after the global correction.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\">Movements in Leading Assets<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"490\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSDT_2022-04-01_09-55-15-1024x490.png\" alt=\"March 2022 in numbers: Terra rally, 19 million mined Bitcoins and Russia sanctions\" class=\"wp-image-169303\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSDT_2022-04-01_09-55-15-1024x490.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSDT_2022-04-01_09-55-15-300x144.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSDT_2022-04-01_09-55-15-768x368.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSDT_2022-04-01_09-55-15-1536x735.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSDT_2022-04-01_09-55-15.png 1834w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Daily BTC\/USDT chart on Binance. Data: <a href=\"https:\/\/ru.tradingview.com\/symbols\/BTCUSDT\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"458\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/ETHUSDT_2022-04-01_09-55-30-1024x458.png\" alt=\"March 2022 in numbers: Terra rally, 19 million mined Bitcoins and Russia sanctions\" class=\"wp-image-169304\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/ETHUSDT_2022-04-01_09-55-30-1024x458.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/ETHUSDT_2022-04-01_09-55-30-300x134.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/ETHUSDT_2022-04-01_09-55-30-768x344.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/ETHUSDT_2022-04-01_09-55-30-1536x688.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/ETHUSDT_2022-04-01_09-55-30.png 1834w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Daily ETH\/USDT chart on Binance. Data: <a href=\"https:\/\/ru.tradingview.com\/symbols\/ETHUSDT\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\" id=\"block-fd5e13e6-87cb-48b2-b322-c90ee0e8e10b\">\n<li>After testing the $45,000 level at the start of the month, Bitcoin price returned to the consolidation range designated at the start of the year, where it traded for most of the month.<\/li>\n<li>Only on March 27 did quotes exceed $45,000 again \u2014 the next day saw the year\u2019s high for 2022 at $48,189.<\/li>\n<li>Ethereum followed a similar trajectory \u2014 topping $3,000 and reaching a 2022 high of $3,481. The growth phase coincided with Bitcoin activity.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<h3>Media: Cryptocurrencies-Linked Stocks (as of 31.03 close)<\/h3>\n<div class=\"wp-block-monthly-reviews-thirds-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-third review_half\">\n<p style=\"font-size:24px\"><strong>MicroStrategy (<a href=\"https:\/\/ru.tradingview.com\/symbols\/NASDAQ-MSTR\/\">MSTR<\/a>): <br \/><span style=\"color: #33B905\">+4.56%<\/span><\/strong><\/p>\n<\/div>\n<div class=\"wp-block-monthly-reviews-third review_half\">\n<p style=\"font-size:24px\"><strong>Coinbase (<a href=\"https:\/\/ru.tradingview.com\/symbols\/NASDAQ-COIN\/\">COIN<\/a>): <br \/><span style=\"color: #FA0021\">-3.42%<\/span><\/strong><\/p>\n<\/div>\n<\/div>\n<div class=\"wp-block-monthly-reviews-thirds-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-third review_half\">\n<p style=\"font-size:24px\"><strong>Bakkt (<a href=\"https:\/\/ru.tradingview.com\/symbols\/NYSE-BKKT\/\">BKKT<\/a>): <br \/><span style=\"color: #33B905\">+3.01%<\/span><\/strong><\/p>\n<\/div>\n<div class=\"wp-block-monthly-reviews-third review_half\">\n<p style=\"font-size:24px\"><strong>Galaxy Digital (<a href=\"https:\/\/ru.tradingview.com\/symbols\/TSX-GLXY\/\">GLXY<\/a>): <br \/><span style=\"color: #33B905\">+19.33%<\/span><\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<h3>\u0414\u0438\u043d\u0430\u043c\u0438\u043a\u0430 \u0446\u0435\u043d\u043d\u044b\u0445 \u0431\u0443\u043c\u0430\u0433 \u043c\u0430\u0439\u043d\u0438\u043d\u0433\u043e\u0432\u044b\u0445 \u043a\u043e\u043c\u043f\u0430\u043d\u0438\u0439 (\u043d\u0430 \u043c\u043e\u043c\u0435\u043d\u0442 \u0437\u0430\u043a\u0440\u044b\u0442\u0438\u044f 31.03)<\/h3>\n<div class=\"wp-block-monthly-reviews-thirds-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-third review_half\">\n<p style=\"font-size:24px\"><strong>Canaan (CAN): <br \/><span style=\"color: #FA0021\">-1.27%<\/span><\/strong><\/p>\n<\/div>\n<div class=\"wp-block-monthly-reviews-third review_half\">\n<p style=\"font-size:24px\"><strong>Ebang International (EBON): <br \/><span style=\"color: #FA0021\">-11.45%<\/span><\/strong><\/p>\n<\/div>\n<\/div>\n<div class=\"wp-block-monthly-reviews-thirds-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-third review_half\">\n<p style=\"font-size:24px\"><strong>Riot Blockchain (RIOT): <br \/><span style=\"color: #33B905\">+16.38%<\/span><\/strong><\/p>\n<\/div>\n<div class=\"wp-block-monthly-reviews-third review_half\">\n<p style=\"font-size:24px\"><strong>Hut 8 (HUT): <br \/><span style=\"color: #FA0021\">-15.6%<\/span><\/strong><\/p>\n<\/div>\n<\/div>\n<div class=\"wp-block-monthly-reviews-thirds-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-third review_half\">\n<p style=\"font-size:24px\"><strong>Marathon Digital (MARA): <br \/><span style=\"color: #33B905\">+2.12%<\/span><\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n<h2 class=\"wp-block-heading\">Macroeconomic Backdrop<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"974\" height=\"633\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/image1-505.png\" alt=\"March 2022 in numbers: Terra rally, 19 million mined Bitcoins and Russia sanctions\" class=\"wp-image-169322\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/image1-505.png 974w, https:\/\/u1f987.com\/wp-content\/uploads\/image1-505-300x195.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/image1-505-768x499.png 768w\" sizes=\"auto, (max-width: 974px) 100vw, 974px\" \/><figcaption class=\"wp-element-caption\">Dynamics of the spread between 2- and 10-year U.S. government bonds. Data:<a href=\"https:\/\/www.zerohedge.com\/economics\/hard-landing-virtually-inevitable-countdown-recession-begins-2s10s-curve-inverts\"> ZeroHedge<\/a>.<\/figcaption><\/figure>\n<ul class=\"wp-block-list\">\n<li>By March 16\u201317, the Fed raised the federal funds rate by 25 basis points for the first time since December 2018 \u2014 to 0.25%\u20130.50%. Inflation\u2019s forty-year peak prompted a forecast revision for this year to 4.3% (from 2.6%), and for next year to 2.7% (from 2.3%). A balance-sheet run-off could be decided at one of the next meetings.<\/li>\n<li>The futures market priced in an 68.8% probability of a 50bp hike at the May meeting, and 75.3% in June. By year-end the baseline scenario pointed to a 2.5%\u20132.75% target range, versus 1.9% currently.<\/li>\n<li>The expected tightening of monetary policy could set the stage for an economic recession. The U.S. Treasuries market showed an inversion (two-year yields exceeding ten-year yields).<\/li>\n<li>According to Bespoke, in similar episodes the downturn tended to occur within a year with roughly a 2:1 odds, and within two years with a 98% probability.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"974\" height=\"682\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/image2-325.png\" alt=\"March 2022 in numbers: Terra rally, 19 million mined Bitcoins and Russia sanctions\" class=\"wp-image-169325\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/image2-325.png 974w, https:\/\/u1f987.com\/wp-content\/uploads\/image2-325-300x210.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/image2-325-768x538.png 768w\" sizes=\"auto, (max-width: 974px) 100vw, 974px\" \/><figcaption class=\"wp-element-caption\">Correlation of Bitcoin with the S&#038;P 500, Nasdaq Composite, U.S. Treasuries and gold. Data: <a href=\"https:\/\/glassnode.substack.com\/p\/uncharted-12?s=r\">Glassnode<\/a>.<\/figcaption><\/figure>\n<ul class=\"wp-block-list\">\n<li>The Fed\u2019s decision supported the U.S. equity market \u2014 the S&#038;P 500 rose 3.6% last month. Investors did not rule out a 0.5% rate rise as early as March. In Jan\u2013Feb the drawdown near the peak was almost 15%. The correlation between the \u201cbarometer of the U.S. economy\u201d and Bitcoin <a href=\"https:\/\/glassnode.substack.com\/p\/uncharted-12?s=r\">dropped<\/a> to levels seen at the end of 2020.<\/li>\n<li>Partly due to short liquidations on the derivatives market, Bitcoin\u2019s outperformance occurred ahead of the curve. Sanctions on Russia may have contributed. At the same time, Glassnode analysts <a href=\"https:\/\/glassnode.substack.com\/p\/uncharted-12?s=r\">urged<\/a> caution in declaring the bear market over.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\">Market Sentiment, Correlations and Volatility<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"553\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-indeksa-straha-i-zhadnosti-4-1024x553.png\" alt=\"March 2022 in numbers: Terra rally, 19 million mined Bitcoins and Russia sanctions\" class=\"wp-image-169333\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-indeksa-straha-i-zhadnosti-4-1024x553.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-indeksa-straha-i-zhadnosti-4-300x162.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-indeksa-straha-i-zhadnosti-4-768x415.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-indeksa-straha-i-zhadnosti-4-1536x830.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-indeksa-straha-i-zhadnosti-4-2048x1106.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Fear and Greed Index dynamics. Data: <a href=\"https:\/\/alternative.me\/crypto\/fear-and-greed-index\/\">alternative.me<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"273\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/indeks-straha-i-zhadnosti2-1-1024x273.png\" alt=\"March 2022 in numbers: Terra rally, 19 million mined Bitcoins and Russia sanctions\" class=\"wp-image-169334\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/indeks-straha-i-zhadnosti2-1-1024x273.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/indeks-straha-i-zhadnosti2-1-300x80.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/indeks-straha-i-zhadnosti2-1-768x205.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/indeks-straha-i-zhadnosti2-1-1536x410.png 1536x410.png  , https:\/\/u1f987.com\/wp-content\/uploads\/indeks-straha-i-zhadnosti2-1.png 1604w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Fear and Greed Index indicator. Data: <a href=\"https:\/\/www.blockchaincenter.net\/en\/cryptocurrency-correlation-study\/?timeframe=90days&#038;asset1=SP500&#038;asset2=BTC#correlationtable\">BlockchainCenter<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>In February\u2013March the Fear &#038; Greed Index stayed within a neutral range. The index fell to a two-month low (20) in February, while a high of 56 was reached in March.<\/li>\n<li>Following the Fed\u2019s 17 March rate hike, the indicator strengthened by 25 basis points.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"529\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/90-dnevnye-pokazateli-korrelyatsii-aktivov-3-1024x529.png\" alt=\"March 2022 in numbers: Terra rally, 19 million mined Bitcoins and Russia sanctions\" class=\"wp-image-169336\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/90-dnevnye-pokazateli-korrelyatsii-aktivov-3-1024w-529.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/90-dnevnye-pokazateli-korrelyatsii-aktivov-3-300x155.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/90-dnevnye-pokazateli-korrelyatsii-aktivov-3-768x397.png 768w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">90-day asset correlation indicators. Data: <a href=\"https:\/\/www.blockchaincenter.net\/en\/cryptocurrency-correlation-study\/?timeframe=90days&#038;asset1=SP500&#038;asset2=BTC#correlationtable\">BlockchainCenter<\/a>.<\/figcaption><\/figure>\n<ul class=\"wp-block-list\">\n<li>Over the last two months, the statistical correlation between Bitcoin and the U.S. stock market strengthened, setting a new historical high. Correlation with the S&#038;P 500 reached 0.48, with the Dow Jones at 0.39.<\/li>\n<li>Correlation with the stock market is more pronounced for Ethereum (SPX 0.55; DOW 0.48).<\/li>\n<li>Bitcoin price movements and gold moved in opposite directions (-0.15). Alongside stronger correlation between crypto and equities, this provides an opportunity to use precious metal for hedging.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"529\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-koeffitsienta-istoricheskoj-volatilnosti-tseny-bitkoina-3-1024x529.png\" alt=\"March 2022 in numbers: Terra rally, 19 million mined Bitcoins and Russia sanctions\" class=\"wp-image-169339\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-koeffitsienta-istoricheskoj-volatilnosti-tseny-bitkoina-3-1024w.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-koeffitsienta-istoricheskoj-volatilnosti-tseny-bitkoina-3-300x155.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-koeffitsienta-istoricheskoj-volatilnosti-tseny-bitkoina-3-768x397.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-koeffitsienta-istoricheskoj-volatilnosti-tseny-bitkoina-3-1536x794.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-koeffitsienta-istoricheskoj-volatilnosti-tseny-bitkoina-3-2048x1059.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Dynamics of the Bitcoin price historical volatility index. Data: <a href=\"https:\/\/satochi.co\/\">satochi.co<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"552\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-koeffitsienta-SHarpa-bitkoina-v-sravnenii-s-drugimi-aktivami-3-1024x552.png\" alt=\"March 2022 in numbers: Terra rally, 19 million mined Bitcoins and Russia sanctions\" class=\"wp-image-169340\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-koeffitsienta-SHarpa-bitkoina-v-sravnenii-s-drugimi-aktivami-3-1024x552.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-koeffitsienta-SHarpa-bitkoina-v-sravnenii-s-drugimi-aktivami-3-300x162.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-koeffitsienta-SHarpa-bitkoina-v-sravnenii-s-drugimi-aktivami-3-768x414.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-koeffitsienta-SHarpa-bitkoina-v-sravnenii-s-drugimi-aktivami-3-1536x828.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-koeffitsienta-SHarpa-bitkoina-v-sravnenii-s-drugimi-aktivami-3-2048x1104.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Bitcoin Sharpe ratio dynamics vs SPDR Gold Shares. Data: <a href=\"https:\/\/portfolioslab.com\/tools\/sharpe-ratio\">Portfolios Labs<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>In February\u2013March Bitcoin volatility hovered between 2.81% and 4.50%. The two\u2011month average was 3.84% (3.39% in February, 4.25% in March).<\/li>\n<li>Volatility surged amid Russia\u2019s invasion of Ukraine, as traders were unsure how the asset would react to geopolitical risk. At the end of March the average measure eased but did not return to January\u2019s level (2.83%).<\/li>\n<li>The Sharpe ratio for Bitcoin (using the 2\u2011year U.S. Treasuries as the risk\u2011free proxy) suggested bitcoin risk-adjusted returns were higher than gold\u2019s in mid\u2011March. The ratio remained positive.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"713\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-bitkoin-balansov-tsentralizovannyh-birzh.-Dannye-Glassnode.-1024x713.png\" alt=\"March 2022 in numbers: Terra rally, 19 million mined Bitcoins and Russia sanctions\" class=\"wp-image-169343\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-bitkoin-balansov-tsentralizovannyh-birzh.-Dannye-Glassnode.-1024x713.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-bitkoin-balansov-tsentralizovannyh-birzh.-Dannye-Glassnode.-300x209.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-bitkoin-balansov-tsentralizovannyh-birzh.-Dannye-Glassnode.-768x535.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-bitkoin-balansov-tsentralizovannyh-birzh.-Dannye-Glassnode.-1536x1070.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-bitkoin-balansov-tsentralizovannyh-birzh.-Dannye-Glassnode..png 1782w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Bitcoin balances on centralized exchanges. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=BTC&#038;category=&#038;m=distribution.BalanceExchanges&#038;s=1535760000&#038;u=1648760399&#038;zoom=\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-indikatora-aSOPR.-Dannye-Glassnode.-1024x576.png\" alt=\"March 2022 in numbers: Terra rally, 19 million mined Bitcoins and Russia sanctions\" class=\"wp-image-169344\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-indikatora-aSOPR.-Dannye-Glassnode.-1024x576.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-indikatora-aSOPR.-Dannye-Glassnode.-300x169.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-indikatora-aSOPR.-Dannye-Glassnode.-768x432.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-indikatora-aSOPR.-Dannye-Glassnode.-1536x864.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-indikatora-aSOPR.-Dannye-Glassnode.-22.png 1800w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Dynamics of the SOPR indicator. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=BTC&#038;category=&#038;ema=0&#038;m=indicators.SoprAdjusted&#038;mAvg=7&#038;mMedian=0&#038;s=1612114738&#038;u=1648771200&#038;zoom=\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>The share of Bitcoin that has not moved for over a year rose above 63%. The near\u2011historical high suggests most holders did not dump coins during two drawdowns of more than 50% this past year.<\/li>\n<li>Despite improving market mood after a prolonged decline, the <span data-descr=\"Spent Output Profit Ratio (SOPR) smoothed with a 7-day moving average\" class=\"old_tooltip\">MVRV Z\u2011Score<\/span> does not signal strong oversold conditions. This implies the bear market may not be over yet.<\/li>\n<\/ul>\n<\/div>\n<h3 class=\"wp-block-heading\">Ethereum<\/h3>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"537\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-sutochnogo-chisla-sozhzhennyh-ETH-3-1024x537.png\" alt=\"March 2022 in numbers: Terra rally, 19 million mined Bitcoins and Russia sanctions\" class=\"wp-image-169352\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-sutochnogo-chisla-sozhzhennyh-ETH-3-1024w.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-sutochnogo-chisla-sozhzhennyh-ETH-3-300x157.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-sutochnogo-chisla-sozhzhennyh-ETH-3-768x403.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-sutochnogo-chisla-sozhzhennyh-ETH-3-1536x805.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-sutochnogo-chisla-sozhzhennyh-ETH-3-2048x1074.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Dynamic of daily ETH burnt amount. Data: <a href=\"https:\/\/etherscan.io\/chart\/dailyethburnt\">Etherscan<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"578\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Balansy-Ethereum-na-tsentralizovannyh-birzhah-i-dolya-predlozheniya-ETH-zadejstvovannogo-v-smart-kontraktah-3-1024x578.png\" alt=\"March 2022 in numbers: Terra rally, 19 million mined Bitcoins and Russia sanctions\" class=\"wp-image-169354\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Balansy-Ethereum-na-tsentralizovannyh-birzhah-i-dolya-predlozheniya-ETH-zadejstvovannogo-v-smart-kontraktah-3-1024x578.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Balansy-Ethereum-na-tsentralizovannyh-birzhah-i-dolya-predlozheniya-ETH-zadejstvovannogo-v-smart-kontraktah-3-300x169.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Balansy-Ethereum-na-tsentralizovannyh-birzhah-i-dolya-predlozheniya-ETH-zadejstvovannogo-v-smart-kontraktah-3-768x433.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Balansy-Ethereum-na-tsentralizovannyh-birzhah-i-dolya-predlozheniya-ETH-zadejstvovannogo-v-smart-kontraktah-3-1536x867.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Balansy-Ethereum-na-tsentralizovannyh-birzhah-i-dolya-predlozheniya-ETH-zadejstvovannogo-v-smart-kontraktah-3-2048x1156.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Balances of Ethereum on centralized exchanges and the share of ETH supply engaged in smart contracts. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=ETH&#038;category=&#038;m=distribution.BalanceExchanges&#038;s=1633167919&#038;u=1635759919&#038;zoom=30\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>Since the EIP-1559 activation in August 2021 the Ethereum blockchain has burned over 2 million coins. In February\u2013March the protocol removed more than 330,000 ETH from circulation.<\/li>\n<li>Against a local decline in Ethereum prices, the burn rate slowed. The aggregate over the last two months did not exceed January\u2019s level (more than 392,000 ETH).<\/li>\n<li>During February\u2013March there were withdrawals of Ethereum from centralized exchanges. By the end of the reporting period, ETH supply on CEX fell below 21 million, a fresh low since autumn 2018.<\/li>\n<li>At the same time the share of ETH locked in DeFi protocols remains high \u2014 by the end of March it stood at 27.18%, slightly lower than in January (27.48%).<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"614\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-kolichestva-ETH-na-depozitnom-kontrakte-Ethereum-2.0-i-chislo-validatorov-1-1024x614.png\" alt=\"March 2022 in numbers: Terra rally, 19 million mined Bitcoins and Russia sanctions\" class=\"wp-image-169355\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-kolichestva-ETH-na-depozitnom-kontrakte-Ethereum-2.0-i-chislo-validatorov-1-1024x614.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-kolichestva-ETH-na-depozitnom-kontrakte-Ethereum-2.0-i-chislo-validatorov-1-300x180.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-kolichestva-ETH-na-depozitnom-kontrakte-Ethereum-2.0-i-chislo-validatorov-1-768x460.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-kolichestva-ETH-na-depozitnom-kontrakte-Ethereum-2.0-i-chislo-validatorov-1-1536x921.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-kolichestva-ETH-na-depozitnom-kontrakte-Ethereum-2.0-i-chislo-validatorov-1-2048x1228.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Dynamic of ETH on the Ethereum 2.0 deposit contract and validator count. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=ETH&#038;category=ETH%202.0&#038;m=eth2.StakingTotalVolumeSum\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"654\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-chisla-adresov-Ethereum-2.0-s-balansom-32-ETH-2-1024x654.png\" alt=\"March 2022 in numbers: Terra rally, 19 million mined Bitcoins and Russia sanctions\" class=\"wp-image-169356\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-chisla-adresov-Ethereum-2.0-s-balansom-32-ETH-2-1024x654.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-chisla-adresov-Ethereum-2.0-s-balansom-32-ETH-2-300x192.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-chisla-adresov-Ethereum-2.0-s-balansom-32-ETH-2-768x491.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-chisla-adresov-Ethereum-2.0-s-balansom-32-ETH-2-1536x981.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-chisla-adresov-Ethereum-2.0-s-balansom-32-ETH-2-2048x1308.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Dynamic of Ethereum 2.0 addresses with balance \u2265 32 ETH. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=ETH&#038;category=ETH%202.0&#038;m=addresses.Min32Count\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>By March the number of ETH on the Ethereum 2.0 deposit contract approached 11 million. Over the last two months the metric rose by 18%, with March showing stronger growth than February.<\/li>\n<li>The number of validators on the Beacon Chain exceeded 343,000. In February\u2013March the number of participants interacting with Ethereum 2.0 rose by 18.5%.<\/li>\n<li>After January\u2019s decline, in February the number of addresses with balances \u2265 32 ETH again began to rise. By 31 March the figure reached 109,171.<\/li>\n<\/ul>\n<\/div>\n<h3 class=\"wp-block-heading\">Lightning Network<\/h3>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"617\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-emkosti-seti-Lightning-Network-4-1024x617.png\" alt=\"March 2022 in numbers: Terra rally, 19 million mined Bitcoins and Russia sanctions\" class=\"wp-image-169360\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-emkosti-seti-Lightning-Network-4-1024x617.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-emkosti-seti-Lightning-Network-4-300x181.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-emkosti-seti-Lightning-Network-4-768x463.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-emkosti-seti-Lightning-Network-4-1536x925.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-emkosti-seti-Lightning-Network-4-2048x1234.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Lightning Network capacity dynamics. Data: <a href=\"https:\/\/bitcoinvisuals.com\/ln-capacity\">Bitcoin Visuals<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"592\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/CHislo-nod-i-kolichestvo-kanalov-seti-Lightning-Network-2-1024x592.png\" alt=\"March 2022 in numbers: Terra rally, 19 million mined Bitcoins and Russia sanctions\" class=\"wp-image-169361\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/CHislo-nod-i-kolichestvo-kanalov-seti-Lightning-Network-2-1024x592.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/CHislo-nod-i-kolichestvo-kanalov-seti-Lightning-Network-2-300x174.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/CHislo-nod-i-kolichestvo-kanalov-seti-Lightning-Network-2-768x444.png 768w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Number of nodes and channels on the Lightning Network. Data: <a href=\"https:\/\/studio.glassnode.com\/dashboards\/lightning-network\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>Lightning Network capacity for micro\u2011payments continues to grow: in February it rose 2%, in March 5%. Over two months the metric reached 3640 BTC.<\/li>\n<li>Arcane Research noted that the ecosystem\u2019s growth is outpacing capacity growth. This is mostly due to bitcoin\u2019s legalisation in El Salvador.<\/li>\n<li>The number of Lightning Network nodes and channels slightly declined in March: the first metric fell 1.88% and the second 1.07% month-on-month. February had shown positive momentum.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\">Mining, Hashrate, Fees<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"464\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-heshrejta-bitkoina-s-nachala-goda-EH-s.-Dannye-Glassnode-1024x464.png\" alt=\"March 2022 in numbers: Terra rally, 19 million mined Bitcoins and Russia sanctions\" class=\"wp-image-169363\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-heshrejta-bitkoina-s-nachala-goda-EH-s.-Dannye-Glassnode-1024x464.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-heshrejta-bitkoina-s-nachala-goda-EH-s.-Dannye-Glassnode-300x136.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-heshrejta-bitkoina-s-nachala-goda-EH-s.-Dannye-Glassnode-768x348.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-heshrejta-bitkoina-s-nachala-goda-EH-s.-Dannye-Glassnode-1536x697.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-heshrejta-bitkoina-s-nachala-goda-EH-s.-Dannye-Glassnode-2048x929.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Dynamic of Bitcoin hashrate since the start of the year, EH\/s. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=BTC&#038;category=Miners&#038;m=mining.HashRateMean&#038;s=1617267429&#038;u=1648803429&#038;zoom=365\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"662\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Krupnejshie-puly-po-dobyche-bitkoina.-Dannye-BTC.com-po-sostoyaniyu-na-1.04.2022-1024x662.png\" alt=\"March 2022 in numbers: Terra rally, 19 million mined Bitcoins and Russia sanctions\" class=\"wp-image-169365\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Krupnejshie-puly-po-dobyche-bitkoina.-Dannye-BTC.com-po-sostoyaniyu-na-1.04.2022-1024x662.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Krupnejshie-puly-po-dobyche-bitkoina.-Dannye-BTC.com-po-sostoyaniyu-na-1.04.2022-300x194.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Krupnejshie-puly-po-dobyche-bitkoina.-Dannye-BTC.com-po-sostoyaniyu-na-1.04.2022-768x496.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Krupnejshie-puly-po-dobyche-bitkoina.-Dannye-BTC.com-po-sostoyaniyu-na-1.04.2022.png 1404w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Largest Bitcoin mining pools. Data: <a href=\"https:\/\/btc.com\/stats\/pool?pool_mode=month\">BTC.com<\/a> (as of 1.04.2022).<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>11 February the Bitcoin hashrate reached a historic high of 214.75 EH\/s. It soon corrected to January levels slightly above 190 EH\/s.<\/li>\n<li>For February\u2013March total network hash power rose by 2.88% \u2014 from 188 EH\/s to 193.85 EH\/s.<\/li>\n<li>The Foundry USA mining pool maintained leadership. On 1 February its share in total hashrate was 16.5%<\/a>, rising to 19.3% by 1 April. It is followed by AntPool and F2Pool, contesting for the No. 2 spot.<\/li>\n<li>As of 01.04.2022 miners <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-network-mines-the-19-millionth-bitcoin\">mined 19,000,000 BTC<\/a>. The remaining 2 million coins reserved by the protocol will take roughly another ~140 years to mine.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"492\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dohody-bitkoin-majnerov-po-mesyatsam-mln-1-9-1024x492.png\" alt=\"March 2022 in numbers: Terra rally, 19 million mined Bitcoins and Russia sanctions\" class=\"wp-image-169367\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dohody-bitkoin-majnerov-po-mesyatsam-mln-1-9-1024x492.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Dohody-bitkoin-majnerov-po-mesyatsam-mln-1-9-300x144.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dohody-bitkoin-majnerov-po-mesyatsam-mln-1-9-768x369.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Dohody-bitkoin-majnerov-po-mesyatsam-mln-1-9.png 1950w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Bitcoin miners\u2019 earnings by month, $ mln. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=BTC&#038;category=Miners&#038;m=mining.RevenueSum&#038;s=1620045296&#038;u=1627821296&#038;zoom=90\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"566\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dohody-Ethereum-majnerov-po-mesyatsam-mln-.-Dannye-Glassnode-7-1024x566.png\" alt=\"March 2022 in numbers: Terra rally, 19 million mined Bitcoins and Russia sanctions\" class=\"wp-image-169370\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dohody-Ethereum-majnerov-po-mesyatsam-mln-.-Dannye-Glassnode-7-1024x566.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Dohody-Ethereum-majnerov-po-mesyatsam-mln-.-Dannye-Glassnode-7-300x166.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dohody-Ethereum-majnerov-po-mesyatsam-mln-.-Dannye-Glassnode-7-768x424.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Dohody-Ethereum-majnerov-po-mesyatsam-mln-.-Dannye-Glassnode-7-1536x849.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Dohody-Ethereum-majnerov-po-mesyatsam-mln-.-Dannye-Glassnode-7.png 1842w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Ethereum miners\u2019 earnings by month, $ mln. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=ETH&#038;category=Miners&#038;m=mining.RevenueSum&#038;s=1641020240&#038;u=1648792640&#038;zoom=90\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>In February Bitcoin miner revenue fell 13% versus the prior month as prices declined. In March proceeds from mining rose 14%, rebounding to January\u2019s level (about $1.2 bln).<\/li>\n<li>As before, the share of fees in Bitcoin miners\u2019 revenue remains just over 1%.<\/li>\n<li>In February Ethereum miner revenue fell 32% vs January. In the following month the trend continued \u2014 revenue fell 9% (to $1.63 bln).<\/li>\n<li>The share of fees in Ethereum miners\u2019 revenue fell to 35.16%. This may reflect slower on-chain activity and gas cost in the second-largest cryptocurrency network.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"566\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-srednej-komissii-za-BTC-i-ETH-tranzaktsiyu.-Dannye-Glassnode.-7-1024x566.png\" alt=\"March 2022 in numbers: Terra rally, 19 million mined Bitcoins and Russia sanctions\" class=\"wp-image-169371\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-srednej-komissii-za-BTC-i-ETH-tranzaktsiyu.-Dannye-Glassnode.-7-1024x566.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-srednej-komissii-za-BTC-i-ETH-tranzaktsiyu.-Dannye-Glassnode.-7-300x166.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-srednej-komissii-za-BTC-i-ETH-tranzaktsiyu.-Dannye-Glassnode.-7-768x424.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-srednej-komissii-za-BTC-i-ETH-tranzaktsiyu.-Dannye-Glassnode.-7-1536x849.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-srednej-komissii-za-BTC-i-ETH-tranzaktsiyu.-Dannye-Glassnode.-7-2048x1132.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Dynamics of the average fee per BTC- and ETH- transaction. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=BTC&#038;category=&#038;m=fees.VolumeMean&#038;s=1641039058&#038;u=1648811458&#038;zoom=90\">Glassnode<\/a>.<\/figcaption><\/figure>\n<ul class=\"wp-block-list\">\n<li>In February\u2013March continued the trend of falling transaction fees on the Ethereum network. On 12 March the average ETH fee dropped to $5.96, matching July 2021 levels.<\/li>\n<li>By the end of March the average fee per ETH transaction did not exceed $26.<\/li>\n<li>Corresponding bitcoin fees in the last two months remained in a persistently low range \u2014 $1.1 to $4.46.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\">Trading Volume<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"564\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/obem-torgov-4-1024x564.png\" alt=\"March 2022 in numbers: Terra rally, 19 million mined Bitcoins and Russia sanctions\" class=\"wp-image-169373\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/obem-torgov-4-1024x564.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/obem-torgov-4-300x165.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/obem-torgov-4-768x423.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/obem-torgov-4-1536x846.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/obem-torgov-4-2048x1128.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Trading volume on leading spot exchanges, $ bln. Data: <a href=\"https:\/\/www.theblockcrypto.com\/data\/crypto-markets\/spot\">The Block<\/a>.<\/figcaption><\/figure>\n<ul class=\"wp-block-list\">\n<li>In March total volume on leading crypto exchanges reached $838 billion.<\/li>\n<li>Binance maintained the lead with $490 billion. Coinbase: $82 billion, OKX: $76 billion.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\">Futures and Options<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"573\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/fyuchersy-13-1024x573.png\" alt=\"March 2022 in numbers: Terra rally, 19 million mined Bitcoins and Russia sanctions\" class=\"wp-image-169377\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/fyuchersy-13-1024x573.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/fyuchersy-13-300x168.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/fyuchersy-13-768x429.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/fyuchersy-13-1536x859.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/fyuchersy-13-2048x1145.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Trading volume of Bitcoin and Ethereum futures, in trillions of dollars. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=BTC&#038;category=&#038;m=derivatives.FuturesVolumeDailySum\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"565\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/optsiony-13-1024x565.png\" alt=\"March 2022 in numbers: Terra rally, 19 million mined Bitcoins and Russia sanctions\" class=\"wp-image-169379\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/optsiony-13-1024x565.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/optsiony-13-300x166.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/optsiony-13-768x424.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/optsiony-13-1536x848.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/optsiony-13-2048x1131.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Trading volume of Bitcoin and Ethereum options, $bln. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=BTC&#038;category=&#038;m=derivatives.OptionsVolumeDailySum\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>The total futures volume on Bitcoin\u2011based products in March rose vs February to $1.32 trillion. Demand for Ethereum-based futures was lower \u2014 $650 billion (the lowest in 2022).<\/li>\n<li>The same pattern holds for options. Bitcoin options volumes rose slightly (to $20.7 billion), while Ethereum\u2019s declined to $11.4 billion (from $12 billion in February).<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\">DeFi<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"577\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-stoimosti-sredstv-zablokirovannyh-v-DeFi-sektore-6-1024x577.png\" alt=\"March 2022 in numbers: Terra rally, 19 million mined Bitcoins and Russia sanctions\" class=\"wp-image-169381\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-stoimosti-sredstv-zablokirovannyh-v-DeFi-sektore-6-1024x577.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-stoimosti-sredstv-zablokirovannyh-v-DeFi-sektore-6-300x169.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-stoimosti-sredstv-zablokirovannyh-v-DeFi-sektore-6-768x433.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-stoimosti-sredstv-zablokirovannyh-v-DeFi-sektore-6-1536x866.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-stoimosti-sredstv-zablokirovannyh-v-DeFi-sektore-6.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Dynamics of the value of funds blocked in the DeFi sector. Data: <a href=\"https:\/\/defillama.com\/\">DeFi Llama<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"554\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Top-ekosistem-po-stoimosti-zablokirovannyh-sredstv-2-1024x554.png\" alt=\"March 2022 in numbers: Terra rally, 19 million mined Bitcoins and Russia sanctions\" class=\"wp-image-169383\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Top-ekosistem-po-stoimosti-zablokirovannyh-sredstv-2-1024x554.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Top-ekosistem-po-stoimosti-zablokirovannyh-sredstv-2-300x162.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Top-ekosistem-po-stoimosti-zablokirovannyh-sredstv-2-768x415.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Top-ekosistem-po-stoimosti-zablokirovannyh-sredstv-2.png 1722w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Top ecosystems by blocked funds value, bln $. Data: <a href=\"https:\/\/defillama.com\/chains\">DeFi Llama<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>DeFi sector is recovering after the TVL drop observed in January. Over the last two months the metric rose by 22%.<\/li>\n<li>The Ethereum ecosystem continues to dominate total TVL. Despite a 12% increase in dollar terms in February\u2013March, the ETH-denominated value fell by almost 11% due to higher crypto prices and popularity of alternative solutions.<\/li>\n<li>Over the last two months Terra\u2019s ecosystem TVL grew more than twofold, reaching nearly $29 billion. Since February, LUNA\u2019s USD value rose only 3.5%, to 279.75 million coins. This dynamic coincides with the expansion of the LUNA supply as part of UST issuance, which in turn supports UST\u2019s value and makes the asset deflationary over the longer term.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"485\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/DeFi-Top-20-1024x485.png\" alt=\"March 2022 in numbers: Terra rally, 19 million mined Bitcoins and Russia sanctions\" class=\"wp-image-169386\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/DeFi-Top-20-1024x485.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/DeFi-Top-20-300x142.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/DeFi-Top-20-768x364.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/DeFi-Top-20.png 1038w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Top-20 DeFi assets by market cap. Data: <a href=\"https:\/\/messari.io\/screener\/defi-assets-(copy)-563C5306\">Messari<\/a> (as of 01.04.2022).<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"713\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Top-5-DeFi-proektov-na-baze-Ethereum-po-stoimosti-zablokirovannyh-sredstv-5-1024x713.png\" alt=\"March 2022 in numbers: Terra rally, 19 million mined Bitcoins and Russia sanctions\" class=\"wp-image-169388\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Top-5-DeFi-proektov-na-baze-Ethereum-po-stoimosti-zablokirovannyh-sredstv-5-1024x713.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Top-5-DeFi-proektov-na-baze-Ethereum-po-stoimosti-zablokirovannyh-sredstv-5-300x209.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Top-5-DeFi-proektov-na-baze-Ethereum-po-stoimosti-zablokirovannyh-sredstv-5-768x535.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Top-5-DeFi-proektov-na-baze-Ethereum-po-stoimosti-zablokirovannyh-sredstv-5-1536x1070.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Top-5-DeFi-proektov-na-baze-Ethereum-po-stoimosti-zablokirovannyh-sredstv-5.png 1792w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Top 5 DeFi projects on Ethereum by blocked funds value, bln $. Data: <a href=\"https:\/\/defillama.com\/chain\/Ethereum\">DeFi Llama<\/a> (as of 01.04.2022).<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>After a global correction, DeFi tokens managed to recover most of the losses. In March nearly all top-20 assets were in the green.<\/li>\n<li>The standout was THORChain (RUNE). In March its price rose 118% to $11.86, and its market cap exceeded $3.9 billion. The growth driver was the launch of synthetic asset pools.<\/li>\n<li>In Ethereum-based projects, leadership by TVL shifted back to Curve Finance. In February\u2013March its TVL rose 18.6% to $18.41 billion. MakerDAO fell to second with TVL of $15.43 billion.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"612\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/TVL-po-osnovnym-sektoram-DeFi-ekosistemy-na-baze-Ethereum-7-1024x612.png\" alt=\"March 2022 in numbers: Terra rally, 19 million mined Bitcoins and Russia sanctions\" class=\"wp-image-169391\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/TVL-po-osnovnym-sektoram-DeFi-ekosistemy-na-baze-Ethereum-7-1024x612.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/TVL-po-osnovnym-sektoram-DeFi-ekosistemy-na-baze-Ethereum-7-300x179.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/TVL-po-osnovnym-sektoram-DeFi-ekosistemy-na-baze-Ethereum-7-768x459.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/TVL-po-osnovnym-sektoram-DeFi-ekosistemy-na-baze-Ethereum-7.png 1368w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">TVL by main DeFi sectors on Ethereum-based ecosystems. Data: <a href=\"https:\/\/defipulse.com\/\">DeFi Pulse<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"555\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Kapitalizatsiya-populyarnyh-bitkoinov-na-Ethereum-5-1024x555.png\" alt=\"March 2022 in numbers: Terra rally, 19 million mined Bitcoins and Russia sanctions\" class=\"wp-image-169392\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Kapitalizatsiya-populyarnyh-bitkoinov-na-Ethereum-5-1024x555.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Kapitalizatsiya-populyarnyh-bitkoinov-na-Ethereum-5-300x163.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Kapitalizatsiya-populyarnyh-bitkoinov-na-Ethereum-5-768x416.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Kapitalizatsiya-populyarnyh-bitkoinov-na-Ethereum-5-1536x832.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Kapitalizatsiya-populyarnyh-bitkoinov-na-Ethereum-5.png 1744w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Market cap of popular Bitcoin on Ethereum, $ bln. Data: <a href=\"https:\/\/defipulse.com\/btc\">DeFi Pulse<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>Lampposts continue to dominate the Ethereum ecosystem \u2014 by March they accounted for 46% of the total blocked funds.<\/li>\n<li>For February\u2013March the combined market cap of \u201cBitcoin on Ethereum\u201d stood at $15.8 billion \u2014 up 22% since January. The leader in this segment remains WBTC with a market cap of $12.79 billion (dominance index above 80%).<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"637\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-dnevnogo-chisla-tranzaktsij-v-ekosistemah-Polygon-Ethereum-Binance-Smart-Chain-i-Avalanche-3-1024x637.png\" alt=\"March 2022 in numbers: Terra rally, 19 million mined Bitcoins and Russia sanctions\" class=\"wp-image-169394\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-dnevnogo-chisla-tranzaktsij-v-ekosistemah-Polygon-Ethereum-Binance-Smart-Chain-i-Avalanche-3-1024x637.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-dnevnogo-chisla-tranzaktsij-v-ekosistemah-Polygon-Ethereum-Binance-Smart-Chain-i-Avalanche-3-300x187.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-dnevnogo-chisla-tranzaktsij-v-ekosistemah-Polygon-Ethereum-Binance-Smart-Chain-i-Avalanche-3-768x477.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-dnevnogo-chisla-tranzaktsij-v-ekosistemah-Polygon-Ethereum-Binance-Smart-Chain-i-Avalanche-3-1024x637.png 1024w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Daily transaction counts in the Polygon, Ethereum, Binance Smart Chain and Avalanche ecosystems. Data: <a href=\"https:\/\/polygonscan.com\/chart\/tx\">PolygonScan<\/a>, <a href=\"https:\/\/etherscan.io\/chart\/tx\">Etherscan<\/a>, <a href=\"https:\/\/bscscan.com\/chart\/tx\">BscScan<\/a>, <a href=\"https:\/\/snowtrace.io\/chart\/tx\">SnowTrace<\/a>.<\/figcaption><\/figure>\n<ul class=\"wp-block-list\">\n<li>In March the average daily transactions fell noticeably across most networks included here. Avalanche declined 12%, Binance Smart Chain 8.9%, Polygon 7.8%.<\/li>\n<li>On-chain activity in Ethereum remained largely unchanged \u2014 in March the metric dipped 0.7%. On average the network processed around 1,671,121 transactions per day.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\">DEX and L2<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"538\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/dex-18-1024x538.png\" alt=\"March 2022 in numbers: Terra rally, 19 million mined Bitcoins and Russia sanctions\" class=\"wp-image-169397\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/dex-18-1024x538.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/dex-18-300x157.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/dex-18-768x403.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/dex-18-1536x806.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/dex-18-2048x1075.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Trading volume on decentralized Ethereum exchanges, $ bln. Data: <a href=\"https:\/\/duneanalytics.com\/hagaetc\/dex-metrics\">Dune Analytics<\/a>.<\/figcaption><\/figure>\n<ul class=\"wp-block-list\">\n<li>Trading volume on decentralized platforms fell sharply from late 2021 peaks, reaching $66.85 billion in March.<\/li>\n<li>Uniswap remains the undisputed leader with $51 billion. For the second month in a row Curve surpassed SushiSwap \u2014 with $4.65 billion and $3.65 billion respectively.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"810\" height=\"815\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/l2-5.png\" alt=\"March 2022 in numbers: Terra rally, 19 million mined Bitcoins and Russia sanctions\" class=\"wp-image-169399\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/l2-5.png 810w, https:\/\/u1f987.com\/wp-content\/uploads\/l2-5-298x300.png 298w, https:\/\/u1f987.com\/wp-content\/uploads\/l2-5-150x150.png 150w, https:\/\/u1f987.com\/wp-content\/uploads\/l2-5-768x773.png 768w\" sizes=\"auto, (max-width: 810px) 100vw, 810px\" \/><figcaption class=\"wp-element-caption\">TVL in L2 protocols of the Ethereum network, in ETH and $. Data: <a href=\"https:\/\/l2beat.com\/\">L2BEAT<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"690\" height=\"404\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/VL-po-L2-protokolam-v-seti-Ethereum-1.png\" alt=\"March 2022 in numbers: Terra rally, 19 million mined Bitcoins and Russia sanctions\" class=\"wp-image-169626\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/VL-po-L2-protokolam-v-seti-Ethereum-1.png 690w, https:\/\/u1f987.com\/wp-content\/uploads\/VL-po-L2-protokolam-v-seti-Ethereum-1-300x176.png 300w\" sizes=\"auto, (max-width: 690px) 100vw, 690px\" \/><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>During the month users interacted with various scaling solutions of Ethereum: 144,313 ETH were added to the ecosystem.<\/li>\n<li>Due to the rise in Ethereum\u2019s price, the total TVL denominated in USD for Layer 2 protocols rose from $6 bln to $7.3 bln. The vast majority of these platforms recorded inflows, with Metis Andromeda and Sorare as exceptions.<\/li>\n<li>The leading TVL in the segment \u2014 Arbitrum \u2014 surpassed $4 bln.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\">Stablecoins<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"583\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/stejblkoiny-11-1024x583.png\" alt=\"March 2022 in numbers: Terra rally, 19 million mined Bitcoins and Russia sanctions\" class=\"wp-image-169402\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/stejblkoiny-11-1024x583.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/stejblkoiny-11-300x171.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/stejblkoiny-11-768x437.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/stejblkoiny-11-1536x874.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/stejblkoiny-11-2048x1166.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Market capitalization of stablecoins, $bln. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=USDT&#038;category=&#038;m=market.MarketcapUsd\">Glassnode<\/a>, <a href=\"https:\/\/terra.smartstake.io\/\">Terra Analytics<\/a>.<\/figcaption><\/figure>\n<ul class=\"wp-block-list\">\n<li>Stablecoins\u2019 market capitalization in March reached $178 billion.<\/li>\n<li>Unchanged leader in the segment \u2014 Tether\u2019s USDT \u2014 surpassed $80 billion. Emission of the second most popular stablecoin, USDC, slowed and, in mid-March, contracted to $51.5 billion at month-end.<\/li>\n<li>The Terra ecosystem\u2019s algorithmic stablecoin, UST, saw its market cap surge in March from $13 billion to $16.3 billion. Active issuance affects LUNA burning rates, which is a necessary condition for UST issuance. This makes the asset deflationary and, in the long run, supportive of LUNA\u2019s price above $100.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\">NFTs and GameFi<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"502\" height=\"361\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/OpenSea-10.png\" alt=\"March 2022 in numbers: Terra rally, 19 million mined Bitcoins and Russia sanctions\" class=\"wp-image-169405\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/OpenSea-10.png 502w, https:\/\/u1f987.com\/wp-content\/uploads\/OpenSea-10-300x216.png 300w\" sizes=\"auto, (max-width: 502px) 100vw, 502px\" \/><figcaption class=\"wp-element-caption\">NFT marketplace OpenSea trading volume, $bln. Data: <a href=\"https:\/\/dune.xyz\/rchen8\/opensea\">Dune Analytics<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"854\" height=\"349\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/blokchejny.png\" alt=\"March 2022 in numbers: Terra rally, 19 million mined Bitcoins and Russia sanctions\" class=\"wp-image-169407\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/blokchejny.png 854w, https:\/\/u1f987.com\/wp-content\/uploads\/blokchejny-300x123.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/blokchejny-768x314.png 768w\" sizes=\"auto, (max-width: 854px) 100vw, 854px\" \/><figcaption class=\"wp-element-caption\">Sales of NFTs on different blockchains. Data: <a href=\"https:\/\/cryptoslam.io\/\">Cryptoslam<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<p>Interest in non-fungible tokens is waning. This is evidenced by Google searches for \u201cNFT\u201d retreating to levels seen in October last year, preceding the NFT and metaverse boom. These trends align with shrinking volumes on OpenSea and activity across blockchains.<\/p>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"873\" height=\"494\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/kollektsii-1.png\" alt=\"March 2022 in numbers: Terra rally, 19 million mined Bitcoins and Russia sanctions\" class=\"wp-image-169409\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/kollektsii-1.png 873w, https:\/\/u1f987.com\/wp-content\/uploads\/kollektsii-1-300x170.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/kollektsii-1-768x435.png 768w\" sizes=\"auto, (max-width: 873px) 100vw, 873px\" \/><figcaption class=\"wp-element-caption\">Leading NFT collections by trading volume. Data: <a href=\"https:\/\/cryptoslam.io\/\">Cryptoslam<\/a>.<\/figcaption><\/figure>\n<ul class=\"wp-block-list\">\n<li>Nevertheless, some collections posted a notable volume surge. The top-3 in March included Azuki, an anime-character NFT collection. In March a user <a href=\"https:\/\/opensea.io\/assets\/0xed5af388653567af2f388e6224dc7c4b3241c544\/9605\">sold<\/a> one of the rare NFTs for 420 ETH.<\/li>\n<li>The surge in BAYC and Mutant Ape Yacht Club trades was <a href=\"https:\/\/u1f987.com\/en\/news\/bored-ape-yacht-club-launches-apecoin-airdrop\">driven by<\/a> Yuga Labs\u2019 launch of the governance token APE on March 16. 15% of the total 1 billion tokens were distributed via an airdrop to owners of the mentioned NFTs (as well as Bored Ape Kennel Club). The coin\u2019s listing was promptly supported by major platforms. BAYC premium NFT holders <a href=\"https:\/\/t.me\/forklog\/24580\">received<\/a> more than 10,000 APE. At market peak, its price exceeded $400,000.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\">Activity of Major Players<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1018\" height=\"441\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Bitcoin-Treasuries-1.png\" alt=\"March 2022 in numbers: Terra rally, 19 million mined Bitcoins and Russia sanctions\" class=\"wp-image-169414\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Bitcoin-Treasuries-1.png 1018w, https:\/\/u1f987.com\/wp-content\/uploads\/Bitcoin-Treasuries-1-300x130.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Bitcoin-Treasuries-1-768x333.png 768w\" sizes=\"auto, (max-width: 1018px) 100vw, 1018px\" \/><figcaption class=\"wp-element-caption\">Top public companies holding Bitcoin in reserves. Data: <a href=\"https:\/\/bitcointreasuries.net\/\">Bitcoin Treasuries<\/a>.<\/figcaption><\/figure>\n<ul class=\"wp-block-list\">\n<li>Among public companies holding Bitcoin, MicroStrategy continues to lead by a wide margin. The value of Bitcoin on its balance stands at $5.82 billion as of 1.04.2022.<\/li>\n<li>In late March MicroStrategy\u2019s MacroStrategy unit <a href=\"https:\/\/u1f987.com\/en\/news\/microstrategy-secures-205-million-debt-financing-to-buy-bitcoin\">secured a $205 million loan<\/a> backed by its crypto assets to purchase more Bitcoin.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1018\" height=\"728\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/LFG-Reserves.png\" alt=\"March 2022 in numbers: Terra rally, 19 million mined Bitcoins and Russia sanctions\" class=\"wp-image-169415\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/LFG-Reserves.png 1018w, https:\/\/u1f987.com\/wp-content\/uploads\/LFG-Reserves-300x215.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/LFG-Reserves-768x549.png 768w\" sizes=\"auto, (max-width: 1018px) 100vw, 1018px\" \/><figcaption class=\"wp-element-caption\">LFG reserves and the projected Bitcoin balance. Data: <a href=\"https:\/\/arcane.no\/research\/market-update-bitcoin-trading-at-yearly-highs\">Arcane Research<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>Beyond public companies, a major new player emerged \u2014 Luna Foundation Guard (LFG). This non-profit reportedly <a href=\"https:\/\/studio.glassnode.com\/metrics?a=BTC&#038;category=&#038;m=distribution.BalanceLunaFoundationGuard\">acquired 30,727.9 BTC<\/a> (as of 01.04.2022) to back the Terra algorithmic stablecoin, UST.<\/li>\n<li>Arcane Research concluded that if LFG keeps buying BTC at the same pace, its reserves could exceed 48,000 BTC in early April.<\/li>\n<li>Demand from major players like MicroStrategy and LFG is likely to support Bitcoin\u2019s price.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"562\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-otkrytogo-interesa-po-bitkoin-fyuchersam-na-CME.-Dannye-CFTC-6-1024x562.png\" alt=\"March 2022 in numbers: Terra rally, 19 million mined Bitcoins and Russia sanctions\" class=\"wp-image-169416\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-otkrytogo-interesa-po-bitkoin-fyuchersam-na-CME.-Dannye-CFTC-6-1024x562.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-otkrytogo-interesa-po-bitkoin-fyuchersam-na-CME.-Dannye-CFTC-6-300x165.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-otkrytogo-interesa-po-bitkoin-fyuchersam-na-CME.-Dannye-CFTC-6-768x422.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-otkrytogo-interesa-po-bitkoin-fyuchersam-na-CME.-Dannye-CFTC-6-1536x844.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-otkrytogo-interesa-po-bitkoin-fyuchersam-na-CME.-Dannye-CFTC-6.png 1808w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Dynamic of open interest in Bitcoin futures on CME. Data: <a href=\"https:\/\/www.cftc.gov\/MarketReports\/CommitmentsofTraders\/index.htm\">CFTC<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"473\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-dlinnyh-i-korotkih-pozitsij-hedzh-fondov-i-prochih-krupnyh-igrokov-Non-Commercial-na-CME-1-1024x473.png\" alt=\"March 2022 in numbers: Terra rally, 19 million mined Bitcoins and Russia sanctions\" class=\"wp-image-169418\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-dlinnyh-i-korotkih-pozitsij-hedzh-fondov-i-prochih-krupnyh-igrokov-Non-Commercial-na-CME-1-1024x473.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-dlinnyh-i-korotkih-pozitsij-hedzh-fondov-i-prochih-krupnyh-igrokov-Non-Commercial-na-CME-1-300x139.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-dlinnyh-i-korotkih-pozitsij-hedzh-fondov-i-prochih-krupnyh-igrokov-Non-Commercial-na-CME-1-768x355.png 768w<\/srcset><br \/>\n sizes=&#8221;auto, (max-width: 1024px) 100vw, 1024px&#8221; \/><figcaption class=\"wp-element-caption\">Dinamika \u0434\u043b\u0438\u043d\u043d\u044b\u0445 \u0438 \u043a\u043e\u0440\u043e\u0442\u043a\u0438\u0445 \u043f\u043e\u0437\u0438\u0446\u0438\u0439 \u0445\u0435\u0434\u0436\u2011\u0444\u043e\u043d\u0434\u043e\u0432 \u0438 \u043f\u0440\u043e\u0447\u0438\u0445 \u043a\u0440\u0443\u043f\u043d\u044b\u0445 \u0438\u0433\u0440\u043e\u043a\u043e\u0432 (Non\u2011Commercial) \u043d\u0430 CME. Data: <a href=\"https:\/\/www.cftc.gov\/MarketReports\/CommitmentsofTraders\/index.htm\">CFTC<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>In March open interest (O\u0406) on Bitcoin futures on a regulated exchange (CME) rose 20.4% \u2014 from 9,980 to 12,024 contracts of 5 BTC each.<\/li>\n<li>Among large players in the Non\u2011Commercial category, long and short positions were roughly even. Small investors (Nonreportable) leaned slightly to long positions.<\/li>\n<li>Among a small cohort of institutional players (Commercial), shorts dominated \u2014 794 vs 383 as of 29.03.2022.<\/li>\n<li>Open interest in Bitcoin futures has been steadily declining on CME since early November.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\">Large Venture Rounds<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk has_ventures\">\n<div class=\"wp-block-monthly-reviews-thirds-wrapper reviews_has_thirds\">\n<div class=\"wp-block-monthly-reviews-third review_third\">\n<p style=\"font-size:24px\"><strong>$1 bln<\/strong><\/p>\n<p>Electric Capital, a crypto-focused firm, raises a fund to invest in various startups.<\/p>\n<\/div>\n<div class=\"wp-block-monthly-reviews-third review_third\">\n<p style=\"font-size:24px\"><strong>$450 mln<\/strong><\/p>\n<p>Yuga Labs, the company behind NFT project Bored Ape Yacht Club, valued at $4 bln. Round led by Andreessen Horowitz.<\/p>\n<\/div>\n<div class=\"wp-block-monthly-reviews-third review_third\">\n<p style=\"font-size:24px\"><strong>$450 mlnn<\/strong><\/p>\n<p>ConsenSys, Ethereum studio, during Series D. Valuation around $7 bln.<\/p>\n<\/div>\n<\/div>\n<div class=\"wp-block-monthly-reviews-thirds-wrapper reviews_has_thirds\">\n<div class=\"wp-block-monthly-reviews-third review_third\">\n<p style=\"font-size:24px\"><strong>$450 mln<\/strong><\/p>\n<p>Polygon team from Sequoia Capital and other investors.<\/p>\n<\/div>\n<div class=\"wp-block-monthly-reviews-third review_third\">\n<p style=\"font-size:24px\"><strong>$240 mln<\/strong><\/p>\n<p>Roofstock, a digital real estate platform, raised in Series C. Valuation around $1.9 bln.<\/p>\n<\/div>\n<div class=\"wp-block-monthly-reviews-third review_third\">\n<p style=\"font-size:24px\"><strong>$200 mln<\/strong><\/p>\n<p>Amber Group in Series B+ round led by Temasek. Valuation around $3 bln.<\/p>\n<\/div>\n<\/div>\n<div class=\"wp-block-monthly-reviews-thirds-wrapper reviews_has_thirds\">\n<div class=\"wp-block-monthly-reviews-third review_third\">\n<p style=\"font-size:24px\"><strong>$200 mln<\/strong><\/p>\n<p>Immutable, an NFT startup, in Series C with Temasek leading. Valuation around $2.5 bln.<\/p>\n<\/div>\n<div class=\"wp-block-monthly-reviews-third review_third\">\n<p style=\"font-size:24px\"><strong>$150 mln<\/strong><\/p>\n<p>Optimism, a layer-2 solution, in Series B. Valuation around $1.65 bln.<\/p>\n<\/div>\n<div class=\"wp-block-monthly-reviews-third review_third\">\n<p style=\"font-size:24px\"><strong>$150 mln<\/strong><\/p>\n<p>Trust Machines, founded by Blockstack\u2019s Muneeb Ali.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<h2 class=\"wp-block-heading\">Regulation<\/h2>\n<div class=\"review_single_blk has_region\">\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignleft size-full wp-image-81141\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Frame-1.png\" alt=\"March 2022 in numbers: Terra rally, 19 million mined Bitcoins and Russia sanctions\" width=\"106\" height=\"80\"><\/p>\n<ul>\n<li>The State Duma contemplated creating Russian crypto exchanges to bypass sanctions.<\/li>\n<li>The Ministry of Economics <a href=\"https:\/\/u1f987.com\/en\/news\/russian-economy-ministry-backs-finance-ministrys-digital-currency-bill-urges-refinement\">supported<\/a> a bill legalising Bitcoin.<\/li>\n<li>Prime Minister Mikhail Mishustin <a href=\"https:\/\/u1f987.com\/en\/news\/mishustin-recognises-the-need-to-integrate-cryptocurrencies-into-russias-economy\">acknowledged<\/a> the need to integrate cryptocurrencies into Russia\u2019s economy.<\/li>\n<li>Ministry of Energy proposed <a href=\"https:\/\/u1f987.com\/en\/news\/energy-ministry-proposes-regional-quotas-for-mining\">introducing<\/a> regional mining quotas.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<p>The record number of sanctions against Russia touched the crypto industry as well. Many services restricted access for Russian residents, and several countries moved to curb sanctions evasion involving crypto assets.<\/p>\n<p>Among those fully restricting access for Russian users are NFT-game publisher Animoca Brands, Ukraine\u2019s Kuna and WhiteBIT, UK-based CEX.io for new users, South Korean exchanges Bithumb, Upbit, Coinone, Korbit and Gopax, mining pools Ethermine and Flexpool, and the stablecoin issuer Circle (USDC).<\/p>\n<p>Willingness to block specific users on request appeared from Binance, Coinbase and Tether, and also MetaMask and OpenSea, as well as Ripple.<\/p>\n<p>The EU signalled its intent to include restrictions on crypto assets of officials and oligarchs in a new sanctions package against Russia. A related bill was introduced in the United States as well.<\/p>\n<p>Japan ordered local crypto firms to comply with sanctions against Russia. Later it emerged that the government would review the foreign exchange and trade law provisions to curb sanctions evasion via crypto assets.<\/p>\n<\/div>\n<div class=\"review_single_blk has_region\">\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignleft size-full wp-image-81141\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Frame.png\" alt=\"March 2022 in numbers: Terra rally, 19 million mined Bitcoins and Russia sanctions\" width=\"106\" height=\"80\"><\/p>\n<ul>\n<li>Vladimir Zelenskiy <a href=\"https:\/\/u1f987.com\/en\/news\/zelensky-signs-law-on-virtual-assets\">signed<\/a> the \u201cVirtual Assets\u201d law (VA), regulating crypto activity in the country. <br \/><i>ForkLog\u2019s analysis at <a href=\"https:\/\/u1f987.com\/en\/news\/a-look-at-the-on-virtual-assets-law-what-the-authors-put-into-it-and-how-experts-evaluated-it\">link<\/a><\/i>.<\/li>\n<li>National Bank of Ukraine restricted forex trading amid the war; crypto assets emerged as an effective channel for humanitarian and military funding, raising over $100 million in donations in crypto.<\/li>\n<\/ul>\n<\/div>\n<div class=\"review_single_blk has_region\">\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignleft size-full wp-image-81141\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Group-1.png\" alt=\"March 2022 in numbers: Terra rally, 19 million mined Bitcoins and Russia sanctions\" width=\"106\" height=\"80\"><\/p>\n<ul>\n<li>President Joe Biden <a href=\"https:\/\/u1f987.com\/en\/news\/biden-issues-executive-order-coordinating-federal-agencies-on-cryptocurrency-regulation\">issued<\/a> an executive order coordinating federal agencies in crypto regulation.<\/li>\n<li>Senators <a href=\"https:\/\/u1f987.com\/en\/news\/us-senators-reveal-details-of-cryptocurrency-regulation-bill\">unveiled<\/a> details of a planned bill.<\/li>\n<li>The White House <a href=\"https:\/\/u1f987.com\/en\/news\/white-house-forecasts-an-additional-11-billion-in-crypto-tax-revenues\">projected<\/a> additional crypto tax revenues of about $11 billion.<\/li>\n<li>US Treasury proposed <a href=\"https:\/\/u1f987.com\/en\/news\/us-treasury-proposes-extending-foreign-account-reporting-to-crypto-assets-above-50000\">to report<\/a> overseas crypto accounts with assets above $50,000.<\/li>\n<li>Florida <a href=\"https:\/\/u1f987.com\/en\/news\/florida-to-add-cryptocurrencies-to-financial-literacy-plan\">will add<\/a> crypto assets to its financial literacy plan.<\/li>\n<\/ul>\n<\/div>\n<div class=\"review_single_blk has_region\">\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignleft size-full wp-image-81141\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Frame.png\" alt=\"March 2022 in numbers: Terra rally, 19 million mined Bitcoins and Russia sanctions\" width=\"106\" height=\"80\"><\/p>\n<ul>\n<li>Vladimir Zelensky signed the law \u201cOn Virtual Assets\u201d regulating crypto activity; <i>ForkLog\u2019s breakdown at the link<\/i>.<\/li>\n<li>National Bank of Ukraine restricted currency trading amid wartime; cryptocurrencies have become a major fundraising channel for humanitarian and military needs, with global crypto donations exceeding $100 million.<\/li>\n<\/ul>\n<\/div>\n<div class=\"review_single_blk has_region\">\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignleft size-full wp-image-81141\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Group-2644-1-1.png\" alt=\"March 2022 in numbers: Terra rally, 19 million mined Bitcoins and Russia sanctions\" width=\"2350\" height=\"1182\"><\/p>\n<div class=\"country_blk\" data-blk=\"1\">Authorities in <strong>Dubai<\/strong> <a href=\"https:\/\/u1f987.com\/en\/news\/dubai-adopts-cryptocurrency-regulation-and-establishes-a-regulatory-authority\">adopted<\/a> a law on virtual assets and created a regulatory body.<\/div>\n<div class=\"country_blk\" data-blk=\"2\">In the <strong>European Parliament<\/strong> <a href=\"https:\/\/u1f987.com\/en\/news\/european-parliament-committee-backs-mica-crypto-regulation-bill\">backed<\/a> a bill regulating cryptocurrencies and <a href=\"https:\/\/u1f987.com\/en\/news\/european-parliament-backs-mandatory-verification-for-users-of-defi-wallets\">data collection<\/a> on non-custodial wallets.<\/div>\n<div class=\"country_blk\" data-blk=\"3\">In <strong>Thailand<\/strong> <a href=\"https:\/\/u1f987.com\/en\/news\/thailand-to-ban-use-of-cryptocurrencies-in-payments\">will ban<\/a> the use of cryptocurrency for payments.<\/div>\n<div class=\"country_blk\" data-blk=\"4\">The Bank of <strong>England<\/strong> <a href=\"https:\/\/u1f987.com\/en\/news\/boe-outlines-approach-to-regulating-cryptocurrencies\">presented<\/a> an approach to regulating crypto assets.<\/div>\n<div class=\"country_blk\" data-blk=\"5\">The Bank of <strong>England<\/strong> <a href=\"https:\/\/u1f987.com\/en\/news\/bank-of-england-moves-to-build-regulatory-framework-for-cryptocurrencies\">is preparing<\/a> to build a regulatory framework for crypto.<\/div>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<p>Notable industry developments include Dubai\u2019s proactive stance, which allowed several platforms to obtain licenses to operate in the region and explore establishing regional offices. Among them: <a href=\"https:\/\/u1f987.com\/en\/news\/binance-secures-licence-in-dubai\">Binance<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/ftx-secures-licence-in-dubai\">FTX<\/a>, <a href=\"https:\/\/t.me\/forklog\/24732\">Crypto.com and Bybit<\/a>. FTX also established FTX Europe, <a href=\"https:\/\/u1f987.com\/en\/news\/ftx-announces-expansion-into-european-markets\">receiving<\/a> a license from the Cypriot regulator. Binance obtained a license from Bahrain\u2019s regulator <a href=\"https:\/\/u1f987.com\/en\/news\/binance-granted-bahrain-crypto-asset-service-provider-licence\">.<\/p>\n<\/div>\n<h2 class=\"wp-block-heading\">Main Events of the Month<\/h2>\n<div class=\"reviews_has_halves stretch has_articles\">\n<div class=\"review_half\">\n<div class=\"review_article_blk\">\n<div class=\"review_article_image\" style=\"background-image: url(https:\/\/u1f987.com\/wp-content\/uploads\/RU_blocking_12-min-1.png);\"><strong><a href=\"https:\/\/u1f987.com\/en\/news\/binance-to-block-visa-and-mastercard-transactions-issued-in-russia\">Binance blocked Visa and Mastercard card transactions from Russia<\/a><\/strong><\/div>\n<p>Restrictions cover the exchange\u2019s crypto-fiat service. In P2P trading, customers may use plastic cards from Russian banks. The exception applies to sanctioned banks.<\/p>\n<\/div>\n<\/div>\n<div class=\"review_half\">\n<div class=\"review_article_blk\">\n<div class=\"review_article_image\" style=\"background-image: url(https:\/\/u1f987.com\/wp-content\/uploads\/axie_2.png);\"><strong><a href=\"https:\/\/u1f987.com\/en\/news\/ronin-the-ethereum-sidechain-hacked-attacker-siphons-625-million\">The attacker stole assets from the Ronin Ethereum sidechain worth $625 mln<\/a><\/strong><\/div>\n<p>On 23 March the Ronin sidechain, used by the Axie Infinity game, suffered a hack. After gaining control of five of nine validators, the attacker moved assets valued at about $625 million. In Sky Mavis <a href=\"https:\/\/u1f987.com\/en\/news\/axie-infinity-team-reveals-ronin-attack-details-and-promises-to-reimburse-users-losses\">they promised<\/a> to reimburse users. The team said that the attacker used social engineering to access funds; no technical exploits were found.<\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>In the monthly analytical report we discuss the main March market trends in cryptocurrencies.<\/p>\n","protected":false},"author":1,"featured_media":59718,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"4","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[1144],"tags":[1740],"class_list":["post-59717","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-longreads","tag-bitcoin-industry-in-numbers"],"aioseo_notices":[],"amp_enabled":true,"views":"14","promo_type":"1","layout_type":"4","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/59717","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=59717"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/59717\/revisions"}],"predecessor-version":[{"id":59719,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/59717\/revisions\/59719"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/59718"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=59717"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=59717"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=59717"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}