Soybean oil prices increased by up to 3.4% in Chicago, driven by escalating crude oil costs linked to the ongoing conflict in Iran. Bloomberg posted on X, highlighting the impact of the geopolitical tensions on the biofuel sector. The rise in crude oil prices has bolstered the demand for biofuels, contributing to the surge in soybean oil prices. This development underscores the interconnectedness of global energy markets and agricultural commodities.

Bugscoin has announced plans to resume BGSC buybacks in the second quarter of this year following a return to profitability. According to NS3.AI, the foundation reported a $1.86 million operating loss in the fourth quarter of last year, attributed to a significant buyback in September. Moving forward, Bugscoin intends to transfer repurchased tokens from centralized exchanges to its wallet each quarter, ensuring transparency through on-chain disclosure.

UK Prime Minister Keir Starmer has cautioned that reopening the Strait of Hormuz to commercial shipping will be challenging. Bloomberg posted on X, highlighting Starmer's remarks made ahead of a meeting aimed at ensuring the strait's accessibility following the resolution of the conflict in Iran. The Strait of Hormuz is a critical maritime passage, and its closure has significant implications for global trade and energy supplies. The UK government is actively engaged in diplomatic efforts to address the situation and facilitate the resumption of shipping activities in the region.

XRP was trading at $1.35 on Monday, according to TradingView data. Analysts noted a weekly Relative Strength Index (RSI) of 29 on March 2, alongside a Moving Average Convergence Divergence (MACD) setup that they associate with previous cycle bottoms. According to NS3.AI, experts emphasized the importance of XRP maintaining its support zone between $1.27 and $1.30 to prevent a further decline toward $1.15. A breach below this support could potentially lead to a drop to $0.80.

BitGo has introduced over-the-counter (OTC) trading and on-chain settlement for Canton Coin, complementing its existing custody support as the token's market capitalization approaches $6 billion. According to NS3.AI, this development positions BitGo as one of the pioneering U.S.-based regulated providers to offer custody, trading, and settlement for Canton Coin on a single platform.

Gnosis and Zisk have put forward a proposal for the Ethereum Economic Zone, aiming to synchronize layer-2 networks with the Ethereum mainnet using shared infrastructure. According to NS3.AI, this initiative is receiving financial support from the Ethereum Foundation, highlighting a collaborative effort to enhance network integration.

The Blockchain Leadership Fund was launched on Monday, backed by Anchorage Digital and Chainlink Labs, to support candidates who advocate for digital asset and blockchain policy. According to NS3.AI, this initiative comes amid ongoing debates among lawmakers regarding the structure of the crypto market and stablecoin regulations. Progress in the Senate has been slow as the November elections approach.

European Central Bank (ECB) Board Member Yannis Stournaras emphasized the necessity for the ECB to act promptly should second-round effects or signs of deviation in inflation expectations arise. According to Jin10, Stournaras highlighted the importance of monitoring inflation dynamics closely to ensure stability in the eurozone. He noted that any significant shifts in inflation expectations could require immediate intervention by the ECB to maintain economic balance. Stournaras' comments underscore the ongoing vigilance required by central banks in managing inflationary pressures and ensuring economic stability.

Saudi Arabia's stance on the ongoing conflict involving Iran has drawn significant attention. Bloomberg posted on X, highlighting the complexities surrounding Saudi Arabia's potential involvement and its strategic interests in the region. The kingdom's geopolitical and economic considerations play a crucial role in shaping its response to the situation. Saudi Arabia has historically viewed Iran as a regional rival, with tensions often flaring over political and religious differences. The current conflict presents both challenges and opportunities for Saudi Arabia, as it seeks to balance its security concerns with its economic ambitions. The kingdom's decision to engage or remain on the sidelines will likely be influenced by its desire to maintain stability in the region, protect its oil infrastructure, and uphold its leadership role in the Arab world. Additionally, Saudi Arabia's alliances with Western powers, particularly the United States, may also impact its approach to the conflict. As the situation evolves, Saudi Arabia's actions will be closely monitored by global observers, given the potential implications for regional stability and international relations.

In an interview with the New York Post on Monday, US President Trump said that Iranian Parliament Speaker Mohammad Ghalibaf was one of the Iranian officials communicating with the US regarding ending the war. When asked if he could trust Ghalibaf in cooperating with Washington, Trump replied, "We'll see." He added that he would inform them of the details in about a week. On Sunday, Trump told the Financial Times that Ghalibaf had authorized oil tankers to pass through the Strait of Hormuz. Trump interpreted this move as Ghalibaf being willing to make concessions to reach an agreement to end the war. Ghalibaf denied having held any negotiations with the US, but experts say he is a hardliner and has the potential to reach an agreement. According to the Wall Street Journal, Ghalibaf is one of two Iranian officials temporarily removed from the US and Israel's "death list." (Jinshi)

Catizen has outlined ambitious plans to integrate artificial intelligence into its platform, complementing its broader strategy to expand the Mini App Center, grow its user and payment base, and extend its geographic reach.

Telegram's top crypto games, Hamster Kombat (HMSTR) and Catizen (CATI), have seen their tokens drop over 50% from peak values, echoing declines in other gaming tokens like Notcoin (NOT) and Toncoin (TON). The question now is whether they can recover or face a continued decline and possible collapse.