Gate News report: On March 22, according to on-chain analyst Ai Yi's monitoring, an address associated with Erik Voorhees, founder of ShapeShift and early Bitcoin supporter, purchased 2491.44 ETH on-chain at an average price of 2134 USD in the past 2 hours, valued at 5.32 million USD. Since March 10, the address has cumulatively purchased 120,305.4 ETH with a total value of 259 million USD, at an average cost of 2159.71 USD.

Gate News 消息，3 月 20 日，近期早期比特币持有者（'古老鲸鱼'）将大额资金转移至交易所。当前中东地区紧张局势升级引发能源市场冲击，叠加美联储政策收紧，对加密货币市场造成压力。具体转移金额暂未披露，但市场监测显示资金流动规模达数百万美元级别。

Morgan Stanley Digital Asset Strategy Head Amy Oldenburg stated at a blockchain summit that professional adoption of crypto funds remains in its early stages, with 80% of trades coming from retail investors. Morgan Stanley plans to offer Bitcoin ETF in 2024 and is considering including Ethereum and Solana. She emphasized the need to educate financial advisors on understanding the positioning of digital assets.

Gate News reported that on March 19, Web3 wallet application TopNod announced its global user base has exceeded 1 million, with the product reaching this milestone in 170 days since its launch. TopNod officials stated that 1 million is just the starting line, with its core mission being to break down barriers to Web3 adoption and transform complex blockchain underlying technology into real value that all users can experience seamlessly. The team also expressed gratitude to early ecosystem partners and revealed that a major product upgrade for the next phase will be coming soon.

Ethereum co-founder Vitalik Buterin proposed the Fast Confirmation Rule (FCR), which aims to shorten deposit confirmation time to approximately 13 seconds, optimizing user experience. FCR provides early confirmation signals through validator attestations without requiring a hard fork. Despite concerns about centralization and honesty, it is still viewed as an important measure to improve network efficiency and is part of the Lean Ethereum roadmap.

Hyperliquid founder Jeff announced that the fiat on-ramp feature has gone live for testing, supporting credit cards and bank transfers, powered by swapped.com. Currently in the early testing phase, with plans to add fiat off-ramp and more payment methods in the future.

The Federal Reserve maintained interest rates unchanged and hinted at a slowdown in rate cuts, triggering massive sell-offs by early Bitcoin holders, causing Bitcoin's price to drop nearly 1% to $70,600. Market adjustments to interest rate cut expectations affected overall cryptocurrency market trends. Investors need to pay attention to the impact of Federal Reserve policy on crypto assets.

On March 18, Ripple Chief Technology Officer David Schwartz shared his first email mentioning XRP that he received in 2013, showcasing XRP's early development. In the email, Vinnie Falco requested an XRP transfer, revealing the preliminary state of the crypto market at that time and the spirit of technological exploration. Falco later joined Ripple and made significant contributions to system development. This email reflects the early culture of the XRP community and technological accumulation, highlighting XRP's evolution from its inception to the present day.

Morgan Stanley's Head of Digital Assets Amy Oldenburg stated at the blockchain summit that the crypto ETF market is still in its early stages, with primary demand coming from self-directed investors. Morgan Stanley plans to allow clients to purchase Bitcoin ETFs starting from 2024 and will gradually expand accessibility. Institutional participation is rising, with some major financial institutions setting crypto asset allocations of 1% to 4%.

Gate News Report: On March 13, according to Gate's market data, as of press time, TAO (Bittensor) is trading at $222.41, up 10.65% in the last 24 hours, with a high of $222.77 and a low of $172.96. The 24-hour trading volume reached $240 million. Current market capitalization is approximately $2.393 billion, an increase of $230 million compared to yesterday. ## Recent Important TAO Updates: 1️⃣ **Institutional Investor Positioning Signals Are Clear** Since early March, the market has shown continuous accumulation of TAO by investors. This proactive position-building behavior typically reflects positive expectations among market participants regarding subsequent price movements, providing fundamental support for recent price increases. 2️⃣ **Ecosystem Application Expansion Enhances Long-term Expectations** T