Koreans are accumulating $PENGU.

March 16th — AI Granny monitoring shows Erik Voorhees, ShapeShift founder, has accumulated 33,544 ETH over the past week. Purchases were made at prices ranging from $2,104 to $2,206 per ETH, with a current average cost basis of $2,122 per ETH. This translates to an unrealized gain of $4.327 million. Accumulation address: 0x3e68AAA486D5Aa73fA1370900414Fb671C1Ef2f7

March 16: Oil loading at the UAE’s Fujairah Port was suspended after an attack. The Fujairah Emirate later confirmed a petrochemical industrial zone caught fire in a drone strike. Earlier today: A fire erupted at an oil tank facility near Dubai International Airport (DXB), preliminarily ruled a drone attack. DXB flights were temporarily suspended; Emirates announced it was pausing operations, with some scheduled flights for today canceled.

On March 16, trader Eugene Ng Ah Sio posted on his personal channel: “I’ve gone long. Noting the broader weakness in global risk assets, crypto is still holding strength—this marks the first time crypto has shown relative strength since Bitcoin’s drop from $60k.” While I didn’t catch the bottom, buying into strength after a breakout from a consolidation range is my go-to entry method, as it enables better risk management. Additionally, several altcoins have formed clean rounded bottom patterns, leading me to believe crypto has a higher probability of short-term upside. If Bitcoin breaks above $74k successfully, the entire crypto market could launch a full-scale rally. I expect major coins like ETH and SOL to retest their prior trading ranges (ETH: $2400; SOL: $100).

March 16 — A new study finds the Bitcoin network boasts strong resilience to global internet infrastructure failures. The research shows it would take roughly 72% to 92% of global submarine cables failing simultaneously to knock more than 10% of Bitcoin nodes offline, disrupting the network significantly. Led by researchers Wenbin Wu and Alexander Neumueller at the Cambridge Centre for Alternative Finance, the study draws on Bitcoin peer-to-peer (P2P) network data from 2014 to 2025 and 68 verified submarine cable outages. The team built a national-level cascading model to evaluate the Bitcoin network’s shock resilience. Results indicate the Bitcoin network has strong fault tolerance in random submarine cable outage scenarios. However, targeted attacks on critical submarine cable chokepoints could increase impact 10 times over, potentially cutting the critical outage threshold to 5-20%. The study also notes that using the Tor (The Onion Router) anonymous network drastically boo

On March 16 local time, a fire broke out at an oil tank facility near Dubai International Airport (DXB). Initial reports indicate the blaze was likely caused by a drone attack. Dubai International Airport temporarily suspended flights, with Emirates announcing it had paused operations—some flights scheduled for that day were canceled. Today, multiple flights from China to Dubai have diverted to other airports: - Emirates flights EK363 (Guangzhou→Dubai), EK303 (Shanghai→Dubai), and EK329 (Shenzhen→Dubai) rerouted to Al Maktoum International Airport (DWC); - EK307 (Beijing→Dubai) diverted to Muscat. Previously, Chinese airlines suspended all flights to Dubai through the end of this month, with only Emirates continuing to operate.

March 16 — As electricity demand from AI data centers surges, the market is fiercely debating whether this will undermine Bitcoin mining or even threaten the Bitcoin network’s security. Cryptocurrency trader Ran Neuner said on social media that AI has become Bitcoin mining’s biggest competitor, as both rely heavily on electricity resources. He noted Bitcoin mining generates roughly $57 to $129 per megawatt-hour, while AI data centers can bring in $200 to $500 per megawatt-hour — up to eight times more than mining. As a result, more and more mining firms are pivoting to AI businesses. Neuner listed several mining companies that have embraced AI: - Core Scientific recently secured a $1 billion credit line for its AI hosting business; - MARA Holdings filed documents with the U.S. SEC, hinting it may sell Bitcoin to fund its AI transformation; - Hut 8 signed a $7 billion AI infrastructure deal with Google in December 2023; - Cipher Mining also cut its mining power to focus on