Bitcoin Drops Below $91,000

On March 6th, according to Coinglass data, the total 24-hour liquidation across the network reached $233 million. Among them, there were $121 million in long liquidations and $112 million in short liquidations.

On March 6th, according to on-chain data, Circle minted an extra 38,987,630.26 USDC on the Ethereum mainnet.

On March 6th, according to HTX market data, Bitcoin has dropped below $90,000 and is currently trading at $89,998, with a 24-hour decrease of 0.78%.

On March 6th, as per official information, the DeFi oracle RedStone has declared the commencement of RED token airdrop claim and staking activities. Stakers are able to obtain RED rewards and partner incentives. They are also aiming to receive actual benefits from the data users of RedStone in the future.

March 6: The ruling party in Japan has formulated a proposal to reduce the cryptocurrency tax rate from the present highest of 55% to 20% and is seeking feedback. According to a post by Japanese House of Representatives member Akihisa Shiozaki, on Thursday, the Liberal Democratic Party of Japan put out a regulatory reform proposal draft with the aim of positioning cryptocurrency as a new asset category under the Financial Commodity Transactions Act. The proposal indicates that the regulatory classification of cryptocurrency will be transferred from the Payment Services Act to the Financial Commodity Transactions Act. This alteration will classify cryptocurrency as a "financial product" and implement a separate 20% tax rate, similar to the tax policy for securities investment. (The Block)

On March 6th, the asset management company Bitwise launched an ETP that simultaneously tracks both Bitcoin and Gold. The Bitwise Diaman Bitcoin & Gold ETP (BTCG) was officially listed on Thursday on the Euronext Paris and Amsterdam stock exchanges. This index will monitor the risk-adjusted performance of Bitcoin and will dynamically reallocate value between Bitcoin and Gold in order to take advantage of the cyclical trends between "risk-on" and "risk-off" in the financial markets. (CoinDesk)