Top Cryptocurrency News Today: The biggest moves in NFTs, bitcoin, crypto rules and more

Bitcoin's market dominance was up marginally by 0.01 percent to 42.15 percent and the largest currency in the crypto space was trading at $41,238.56, breaching the $40,000 mark on the morning of March 21. In rupee terms, Bitcoin dipped 0.86 percent to trade at Rs 32,31,285 while Ethereum fell 1.33 percent to Rs 2,24,505.8. Cardano was down 0.3 percent to trade at Rs 68.96 and Avalanche dipped 3.32 percent to Rs 6,627.26. Polkadot was down 1.31 percent to Rs 1,466.92 and Litecoin rose about 0.45 percent to Rs 9,060.35 in the last 24 hours. Tether rose 0.73 percent to Rs 78.19. Read more here.

Interest in decentralised autonomous organisations, better known as DAOs, has seen a sharp increase over the last few years. And while DAOs still primarily exist on Ethereum, the network that powers the second-largest cryptocurrency by market cap, they’re beginning to spring up on competing blockchains—namely Solana. According to DAO analytics site DeepDAO, there is currently $9.5 billion held in DAO treasuries across all networks, with $1.3 billion held by DAOs built on Solana alone, and the remainder ($8.2 billion) on Ethereum. Read more here.

More than $500 million worth of Ethereum was withdrawn from cryptocurrency exchanges last week, as traders look to hold on to their crypto in anticipation of bullish price action. This figure represents the highest aggregated exchange withdrawal of ETH since October, per IntoTheBlock. According to the firm, such outflows would be considered a bullish market indicator. “Assets held on exchanges increase if more market participants want to sell than to buy, and if buyers choose to store their assets on exchanges,” it noted. Read here.

FanCraze, the developer of a non-fungible token (NFT) marketplace trading official cricket collectibles, is raising around $100 million in Series A funding. B Capital Group and Insight Partners are leading the round, with participation from South Korea’s Mirae Asset, according to sources. International soccer superstar Cristiano Ronaldo is also said to be one of the investors. FanCraze secured a partnership with the International Cricket Council (ICC) last November to launch a cricket NFT marketplace. Read more here.