CoinEx Daily: CPI Boosts Crypto Market, MGX’s Strategic Investment in Binance

Overview

Yesterday's CPI data came in lower than expected, leading to a market rebound.

Daily Macro

Bitcoin Performance: Bitcoin rebounded following the CPI data release and is currently trading around $84,000.

Bitcoin ETF: Net inflow of $60.4M into Bitcoin ETFs yesterday.

Ethereum ETF: Net outflow of $9.8M from Ethereum ETFs yesterday.

Macroeconomic Data: On March 12, the U.S. February unadjusted CPI annual rate came in at 2.8%, the lowest level since November last year.

Daily Focus

MGX

Reason for Attention: Crypto exchange Binance and Abu Dhabi-based AI and advanced technology investor MGX announced a $2B investment deal. This is the first institutional investment in Binance to date.

Token Performance (24h): BNB: +4.35%

How to Participate: This is the largest single investment in a cryptocurrency company and one of the largest investments ever in cryptocurrencies (stablecoins). The investment marks MGX’s first entry into the cryptocurrency and blockchain space through a minority stake in Binance.

Next Focus

ETH

Reason for Attention: Ethereum's revenue over the past 24 hours was only $180.5K, dropping its protocol revenue ranking to 21st place.

How to Participate: Ethereum has been underperforming recently, with its price trending downward. Investors should monitor market trends closely.