✨ Today's Web3 News ✨ ✔️ Bitcoin nears $70,000 after US February CPI release The US February CPI came in exactly as expected, up 0.3% month-on-month and up 2.4% year-on-year. This is actually negative news. The possibility of a rate cut was completely ruled out at the FOMC meeting on March 18th, as well as at the April meeting. Bitcoin fell to $69,500 during the session, but then briefly rose above $70,000 after oil prices fell $3 per barrel due to the Iran war. Ultimately, the market seems to be focusing more on Middle Eastern geopolitical risks than on inflation. ✔️Vitalik revealed that the Ethereum Foundation is staking 72,000 ETH as DVT-lite. DVT-lite is a method of managing a single validator key across multiple devices. Its setup is much simpler than traditional DVT, and its goal is to enable institutions to easily implement distributed staking. Vitalik himself explained, "Just create a config file and it's set up automatically," and the fact that the Ethereum Foundation is conducting a 72K ETH experiment is quite significant. ETH is also up about 3.86% today, reaching $2,061. Flow (FLOW) surged 24.7% over the past 24 hours, reaching $0.0659. Trading volume also surged to $191 million, but the reason for the buying surge is unclear, as it occurred without any significant announcements. Based on indicators alone, it appears to be a short-term supply/demand imbalance, and we'll have to wait and see if there's any follow-up announcements. Sonic Labs has launched a native stablecoin called USSD. It's a structure that uses tokenized US Treasury products from BlackRock, Superstate, and WisdomTree as reserves on a 1:1 basis. It runs on the Frax infrastructure and allows for fee-free minting. It also supports cross-chain minting across over 10 chains, suggesting a move aimed at securing liquidity in the Sonic ecosystem. The competition for institutional asset-backed stablecoins seems to be intensifying, which is interesting. Personally, the most notable move today is the Ethereum Foundation's DVT-lite initiative. It's impressive that the foundation is conducting its own experiments with its own funds, rather than simply leaving it as a "good idea." Once this is established, individual stakers will be able to operate decentralized validators with a much lower barrier to entry, which should positively impact the long-term health of Ethereum. As for Bitcoin... Honestly, its direction will likely change significantly depending on how and when the Iranian war unfolds. So, I'm guessing it'll remain in the $68K-$72K range for the time being.