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Strategy announced a new sales agreement to raise US$21 billion in capital by issuing and selling shares of its 8 percent Series A perpetual strike preferred stock.
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Here's a quick recap of the crypto landscape for Monday (March 10) as of 9:00 p.m. UTC.
Bitcoin and Ethereum price update
Bitcoin (BTC) is currently trading at US$78,955.60, reflecting a 4.5 percent decrease over the past 24 hours. The day's trading range has seen a high of US$82,763.28 and a low of US$77,494.60.
Ethereum (ETH) is priced at US$1,864.19, marking a decrease of 8.7 percent over the same period. The cryptocurrency reached an intraday high of US$2,113.22 and a low of US$1,829.01.
Altcoin price update
- Solana (SOL) is currently valued at US$119.32, down 7.7 percent over the past 24 hours. SOL rose to a high of US$127.93 and later fell to a low of US$116.08 on Monday.
- XRP is trading at US$2.07, reflecting a 4.4 percent decrease over the past 24 hours. The cryptocurrency recorded an intraday high of US$2.18 and a low of US$2.
- Sui (SUI) is priced at US$2.13, down 8.9 percent over the past 24 hours. It achieved a daily high of US$2.35 and a low of US$2.07.
- Cardano (ADA) is trading at US$0.6877, reflecting a 6 percent decrease over the past 24 hours. Its highest price on Monday was US$0.7319, with a low of US$0.6638.
Crypto news to know
Saylor shares new strategy
Strategy, formerly MicroStrategy, announced a new sales agreement called the "ATM Program" to raise US$21 billion in capital by issuing and selling shares of its 8 percent Series A perpetual strike preferred stock.
The funds raised will be used for general business operations and potentially to purchase more Bitcoin. According to its filing with the US Securities and Exchange Commission, the company plans to sell these shares gradually, considering market conditions, and will use the proceeds for various corporate purposes, including Bitcoin acquisitions.
Previously, Strategy was known for directly purchasing Bitcoin with its existing capital or through debt offerings.
Coinbase to offer 24/7 Bitcoin and Ether futures in the US
Coinbase announced on Monday that it will begin offering 24/7 Bitcoin and Ethereum futures contracts and perpetual-style futures contracts, marking a first for both the company and the industry.
“We have been actively working with the (Commodity Futures Trading Commission), partners, and market participants to finalize the design and to ensure this product meets regulatory requirements as well as client needs,” the company said in a press release. Both are slated to launch in the coming weeks, but no launch date has been announced.
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Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
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Giann Liguid is a graduate of Ateneo De Manila University with an AB in Interdisciplinary Studies. With a diverse writing background, Giann has written content for the security, food and business industries. He also has expertise in both the public and private sectors, having worked in the government specializing in local government units and administrative dynamics.
When he is not chasing the next market headline, Giann can most likely be found thrift shopping for his dogs.
When he is not chasing the next market headline, Giann can most likely be found thrift shopping for his dogs.
Meagen moved to Vancouver in 2019 after splitting her time between Australia and Southeast Asia for three years. She worked simultaneously as a freelancer and childcare provider before landing her role as an Investment Market Content Specialist at the Investing News Network.
Meagen has studied marketing, developmental and cognitive psychology and anthropology, and honed her craft of writing at Langara College. She is currently pursuing a degree in psychology and linguistics. Meagen loves writing about the life science, cannabis, tech and psychedelics markets. In her free time, she enjoys gardening, cooking, traveling, doing anything outdoors and reading.
Meagen has studied marketing, developmental and cognitive psychology and anthropology, and honed her craft of writing at Langara College. She is currently pursuing a degree in psychology and linguistics. Meagen loves writing about the life science, cannabis, tech and psychedelics markets. In her free time, she enjoys gardening, cooking, traveling, doing anything outdoors and reading.
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Giann Liguid is a graduate of Ateneo De Manila University with an AB in Interdisciplinary Studies. With a diverse writing background, Giann has written content for the security, food and business industries. He also has expertise in both the public and private sectors, having worked in the government specializing in local government units and administrative dynamics.
When he is not chasing the next market headline, Giann can most likely be found thrift shopping for his dogs.
Learn about our editorial policies.
Meagen moved to Vancouver in 2019 after splitting her time between Australia and Southeast Asia for three years. She worked simultaneously as a freelancer and childcare provider before landing her role as an Investment Market Content Specialist at the Investing News Network.
Meagen has studied marketing, developmental and cognitive psychology and anthropology, and honed her craft of writing at Langara College. She is currently pursuing a degree in psychology and linguistics. Meagen loves writing about the life science, cannabis, tech and psychedelics markets. In her free time, she enjoys gardening, cooking, traveling, doing anything outdoors and reading.
Learn about our editorial policies.