TL;DR:

• Solana's value surpasses $200 amidst cryptocurrency decline, outpacing BNB

• Mantle upgrades aim to reduce gas usage

• SEC seeks $158 million for crypto market regulation

• Indonesia's crypto market sees $1.92 billion transactions in February

• Bitcoin faces risk before halving, while crypto CEOs remain optimistic

• Bitcoin ETFs experience negative activity, with GBTC losing $642 million in a day

• Fidelity adjusts Ethereum ETF proposal to include staking

• Polkadot Blockchain Academy returns with new training program in Singapore

• Solana meme coin 'presales' attract $100 million from investors.

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Alpha of the Day

Solana Surpasses $200 Despite Market Downturn

Despite a downturn in the overall cryptocurrency market, Solana's value has exceeded $200, overtaking Binance Coin (BNB) in terms of market capitalization. This demonstrates Solana's resilience and potential for growth amidst broader market fluctuations.

Mantle's Upgrade Aims to Reduce Gas Usage

Mantle, a blockchain platform, has completed a significant upgrade known as 'Tectonic.' The upgrade is designed to improve the efficiency of the platform by reducing gas usage, which could enhance user experience and lower transaction costs for participants.

SEC Requests Additional Funding for Crypto Regulation

The U.S. Securities and Exchange Commission (SEC) has requested an additional $158 million from the federal budget to bolster its efforts in regulating the crypto market. This highlights the growing importance of regulatory oversight in addressing the challenges and risks associated with cryptocurrencies.

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Indonesia's Crypto Market Sees Significant Growth

Indonesia's cryptocurrency market is experiencing substantial growth, with total transactions reaching $1.92 billion in February. This indicates a rising interest in cryptocurrencies within the Indonesian market and underscores the country's emerging role in the global crypto landscape.

Bitcoin Nears Pre-Halving 'Danger Zone'

Bitcoin is approaching a critical period before its halving, where its price could become more volatile. Despite this, many cryptocurrency CEOs remain optimistic about Bitcoin's long-term prospects, emphasizing its potential for continued growth and adoption.

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Negative Flows in Bitcoin ETFs

Exchange-traded funds (ETFs) for Bitcoin are experiencing negative flows, with the Grayscale Bitcoin Trust (GBTC) shedding $642 million in a single day. This suggests a shift in investor sentiment or strategy regarding Bitcoin investment through ETFs.

Fidelity Includes Staking in Ethereum ETF Proposal

Fidelity has amended its proposal for an Ethereum ETF to include staking, reflecting the growing interest in staking as a means of generating returns in the cryptocurrency market.

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Polkadot Blockchain Academy Returns to Singapore

The Polkadot Blockchain Academy has relaunched its training program in Singapore, offering a hybrid format that combines online and in-person sessions. This initiative aims to educate individuals and professionals about blockchain technology and its applications in various industries.

Investor Interest Surges in Solana Meme Coin 'Presales'

A significant amount of investment, totaling $100 million, has flowed into 'presales' of a Solana meme coin, driven by the allure of quick profits. This influx of funds highlights the speculative nature of certain cryptocurrency projects and the potential risks involved for investors.

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