KEYTAKEAWAYS
- Australian Government Says No Plan for Strategic Crypto Reserve
- U.S. to Impose Tariffs on Mexico and Canada on March 4
- ETH/BTC Exchange Rate Nears Lowest Level Since 2021
CONTENT
AUSTRALIAN GOVERNMENT SAYS NO PLAN FOR STRATEGIC CRYPTO RESERVE
On March 4, the Australian government said it has no plans to create a strategic cryptocurrency reserve. This comes after U.S. President Donald Trump recently announced that the U.S. will move forward with such a plan.
A spokesperson for Australia’s Finance Minister, Stephen Jones, stated that the government will focus on regulating digital asset platforms and will continue working with the industry to develop an appropriate regulatory framework. While some U.S. states are considering adding crypto assets to their balance sheets, Australia has no plans to do so.
Analysis:
Trump’s statement has boosted market sentiment, but Australia’s stance shows that not all countries will follow. However, the idea of cryptocurrency as “digital gold” is gaining global attention.
U.S. TO IMPOSE TARIFFS ON MEXICO AND CANADA ON MARCH 4
On March 3, the White House confirmed that the U.S. will impose a 25% tariff on goods imported from Mexico and Canada. The tariffs will take effect on March 4 at 12:00 AM Eastern Time (11:00 PM Mexico Time). President Trump stated there is no room for negotiation on these tariffs.
Analysis:
Higher tariffs will increase import costs and may raise inflation expectations. Higher inflation usually increases demand for safe-haven assets like Bitcoin.
ETH/BTC EXCHANGE RATE NEARS LOWEST LEVEL SINCE 2021
On March 4, the ETH/BTC exchange rate dropped 5.85% in 24 hours, reaching 0.02496. This is close to the lowest level since April 2021 (0.02337).
Analysis:
ETH currently lacks strong positive catalysts. Competition in Layer 2 solutions is increasing, and interest in AI-related projects is cooling. This puts pressure on ETH demand.
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