tridEX

19th March 2025

Blockdaemon Acquires DeFi Connectivity Firm Expand to Bring Institutions to Web3

Blockdaemon, a leading provider of crypto infrastructure, has acquired expand.network, a single API connection into the multifarious world of decentralized finance (DeFi), with a view to enabling big financial institutions to seamlessly access on-chain trading.

The exact price paid for Expand was not revealed, but Blockdaemon said the deal was worth double digit millions of dollars. Expand provides API access to DeFi, enabling connections to over 170 endpoints, including DEXs, bridges, lending protocols and oracles.

As long-awaited regulatory clarity comes to crypto in the U.S., banks and large financial institutions are considering a point of entry into the on-chain finance world.

Blockdaemon, which counts banks like Goldman Sachs among its backers, assists around 70% of top 500 institutions active in crypto, which includes running over 250,000 nodes across 40 data centers, as well as handling staking rewards, and more recently establishing cross-blockchain, self-custody wallet offerings for big players.

The next logical step for banks and institutions is providing easy access via Blockdaemon’s interoperable, staking-ready wallets into the complex realm of DeFi lending, borrowing and automated liquidity, said Konstantin Richter, founder and CEO of Blockdaemon.

“DeFi will make the running financial infrastructure a lot cheaper for banks and institutions and it’s where a lot of institutional benefits will reside over time,” Richter said in an interview. “It’s still very early and obviously there’s a lot that still needs to happen in terms of regulatory clarity, adoption and decentralization. But the time is right to accelerate that particular vertical within our product suite.”

19th March 2025

Ether Zooms 7% as Bitcoin Traders Watch $80K Support Ahead of FOMC

Ether (ETH) zoomed nearly 7% in the past 24 hours to lead gains among majors as traders await the results of the Federal Open Market Committee (FOMC) meeting on Wednesday.

ETH’s gains were coupled with a 4% gain in memecoin dogecoin (DOGE), which historically tends to act correlated to the asset’s movements. Other Ethereum-based memecoins pepe (PEPE) and mog (MOG), rose more than 5% — continuing to act as levered bets.

Elsewhere, majors XRP, BNB Chain’s BNB, Solana’s SOL and Cardano’s ADA rose 3%. Tron’s TRX dipped after a surge 5% earlier in the day as memecoin trading picked up on the blockchain following a no-fee update in the Sunpump platform.

Bitcoin (BTC) rose 2% and remained steady under $84,000 in Asian evening hours ahead of the FOMC, where traders expect rates to be held steady. The $80,000 mark remains one to be watched, some say, as a break below would mean a critical support level vanishes.

The widely-watched ETH/BTC ratio – or the trading pair of ether against bitcoin – rose from 0.23 to 0.24 since Asian morning hours, indicative of a bump in demand for riskier ETH versus the perceived safety of bitcoin.

Ether rose on no immediate catalyst, but the mothership network has technical catalysts in the making. The Pectra upgrade, Ethereum’s next major update, is currently in testing and aims to improve scalability, staking, and user experience with over 20 EIPs, including EIP-7702 (smart account functionality) and EIP-7251 (raising validator staking limits to 2,048 ETH).

Testing began on Holesky in February 2025, followed by Sepolia in March, but faced challenges like transaction processing issues due to client incompatibilities. A new testnet, Hooli, launched on March 17, with Pectra testing scheduled for March 26. If successful, mainnet deployment is expected in late April or early May 2025.

“BTC has found some support at the $80K, but that seems tenuous at best amid broader macro weakness,” traders at Singapore-based QCP Capital said in a broadcast message. “We won’t attempt to call the exact moment when the music stops, but in the short term, we struggle to identify meaningful tailwinds to reverse this rout.”

“We will be watching closely for any dovish shifts, particularly on growth and inflation expectations. Given that it will take months for the impact of tariffs to ripple through the economy, we expect the Fed to remain in “wait-and-see” mode,” QCP added.

Meanwhile, gold broke above $3,000 to new highs earlier Wednesday, leading to some eyeing an inverse correlation of the yellow metal with bitcoin.

“Despite its historical correlation with gold as a macro hedge, Bitcoin’s current divergence—falling while gold rises—suggests it’s acting more like a risk asset, influenced by Fed policy uncertainty, profit-taking, and a shift to traditional safe-havens,” Ryan Lee, Chief Analyst at Bitget Research, told CoinDesk in a Telegram message.

“The FOMC outcome could either trigger a recovery if dovish or deepen the correction if hawkish, with bitcoin’s short-term trajectory tied to broader economic signals rather than solely reinforcing its “digital gold” role,” Lee added.

19th March 2025

Bitcoin Bull Run Isn’t Over: Cathie Wood Predicts $1.5 Million

In a fresh interview with Bloomberg, ARK Investment Management Founder and CEO Cathie Wood once again reaffirmed her ambitious price target for Bitcoin, predicting it could soar to $1.5 million per coin by the year 2030. Despite the recent market volatility and a pronounced “risk-off” environment, Wood remains steadfast in her conviction that the leading cryptocurrency will continue its long-term upward trajectory.

“Yes, it is our view,” Wood replied when asked whether she still expects Bitcoin to reach her stated price target. “I think right now we’re in a risk-off period generally. And if you’ve been watching Bitcoin, it’s almost been a leader in terms of risk on, risk off.”

Cathie Wood Still Calls $1.5 Million Bitcoin By 2030

According to Wood, on-chain analytics indicate that Bitcoin is currently “in the middle of a little bit more than halfway through a four-year cycle”—a reference to BTC’s historically repetitive 4-year cycle. She emphasized that “we think we’re still in a bull market” and expects “deregulation” in the United States to play a crucial role in encouraging more institutions to enter the asset class.

Wood further argued that institutional asset allocators “have to have a point of view on this new asset class” and that incorporating Bitcoin into portfolios will likely improve risk-adjusted returns.

Amid a broader market sell-off, Wood suggested a “rolling recession” scenario might already be unfolding. She cited rising concern over job security and an increasing savings rate as evidence: “We see the saving rate going up. We see the velocity of money coming down, and we do think we’ll see one or two negative quarters.”

She maintained that such economic stress could compel the Federal Reserve to reverse course later this year: “We wouldn’t be surprised to see two or three cuts. […] We think inflation’s going to surprise on the low side of expectations.”

Wood pointed to declining gasoline prices, egg prices, and rents as signals that inflation may be cooling faster than many expect, granting the Fed “more degrees of freedom in the second half of this year.”

Turning to regulation, Wood sounded notably optimistic about the “easing regulatory environment” around cryptocurrency. She highlighted the US Securities and Exchange Commission’s (SEC) approach to meme coins, noting that by “declaring these meme coins not securities”, the regulators have essentially said, “Buyer beware […] We think most of them are not going to be worth very much. […] What we think will happen is […] there’s nothing like losing money for people to learn.”

However, Wood underscored that Bitcoin, Ethereum, and Solana are core assets with “use cases […] multiplying” and likely to remain integral in the crypto ecosystem, in stark contrast to the “millions of meme coins” she believes will eventually lose their value.

Wood also discussed her investment thesis for Robinhood and Coinbase, revealing that ARK views both companies as frontrunners in the battle for digital wallet dominance. She compared digital wallets to credit cards, suggesting “most of us don’t have very many credit cards”—and, by extension, most users will not hold more than a few digital wallets.

Additionally, she drew attention to the rise of tokenization, noting that BlackRock’s interest in tokenizing assets is a signal that large-scale players envision a “complicated […] new world” in capital formation. She also cited emerging markets as a key terrain where stablecoins and Bitcoin already serve as backstops to protect purchasing power from currency devaluation: “If you go to emerging markets […] they are using Bitcoin […] but also stablecoins, which is effectively the dollar as backstops to their purchasing power and wealth.”

Cathie Wood remains undeterred by short-term fluctuations or market jitters. While reaffirming her high-profile bets on Tesla, Bitcoin, and disruptive technologies like artificial intelligence, she reiterated her overarching thesis: innovation and blockchain-based platforms will continue to drive deflationary forces and create new opportunities for growth. “We have been known for our Tesla call and our Bitcoin call. […] I would add in AI platforms as a service company like Palantir.”

At press time, BTC traded at $83,322.

Bitcoin price

19th March 2025

Crypto Wallet Provider Utila Raises $18M as Institutional Demand for Digital Asset Management Soars

Utila, a digital asset operations platform, has raised $18 million in a Series A round to expand its multi-party computation (MPC) wallet solutions as institutional demand to manage digital assets is soaring, the company told CoinDesk.

Nyca Partners led the round, with participation from Wing VC, NFX, Haymaker Ventures, Gaingels, and Cerca Partners. The latest round brings the startup’s total venture capital funding to around $30 million, since emerging from stealth last year.

Utila has experienced a fresh wave of demand for digital asset infrastructure, as payment providers, fintech firms and neobanks increasingly use digital assets, including stablecoins and tokenized assets in their operations, Bentzi Rabi, co-founder and CEO of Utila, said in an interview.

With lingering security concerns in managing digital assets, once again pulled into spotlight by crypto exchange Bybit’s $1.5 billion exploit, “Organizations don’t have many options today,” said Rabi.

“They’re either using outdated institutional wallets that lack key features or simple wallets that aren’t enterprise-ready,” Rabi added.

Its platform leverages multiparty computation (MPC) technology, which splits a private key across multiple parties, reducing the risk of a single point of failure. It also features insurance coverage against security threats and asset losses, business continuity offering to mirror features that already have a service in place.

The company’s platform has handled $8 billion in monthly digital asset transactions, Rabi said, a sizable bump from the $3 billion in three months in early 2024.

The funding will help Utila expand globally and enhance its product offerings, including advanced gas management, API integrations, and smart contract support.

19th March 2025

BFI charity allocates $90M, pledges $200M for health, climate initiatives

Blockchain For Impact (BFI), a charity established by Polygon co-founder Sandeep Nailwal, has committed $90 million to advance biomedical research, driving healthcare innovation, and enhancing climate resilience — a development that could spur blockchain’s adoption for charity initiatives.

The Polygon co-founder’s BFI plans to allocate an additional $200 million to support the growth of healthcare startups, expand biomedical research, and strengthen the public health systems.

BFI has backed several impactful projects in India’s healthcare sector, including Solar-Powered Public Health Centers (PHCs), a floating hospital in Assam to aid communities in flood-prone areas, the UNICEF Healthcare Innovation Partnership, and relief funding during the COVID-19 crisis. Their further initiatives will place a greater emphasis on healthcare innovation and research.

Incorporating blockchain technology can make philanthropic efforts more transparent and accountable thanks to the ledger’s verifiability, according to Sandeep Nailwal, Founder of Blockchain for Impact and co-founder of Polygon.

Nailwal told Cointelegraph:

“All donations received by BFI can be tracked through blockchain. While the final transfer to non-profit programs happens through a bank, every financial step is transparently displayed on our website. All financial data can be visualized, and we publish NGO details, allowing anyone to independently verify the disbursements.”

“Separately, the $68 million we channeled for COVID-19 relief in India, including $15 million to the Government of India through UNICEF for 128 million syringes during COVID-19, followed the same approach,” said Nailwal, adding:

“Anyone, be it donors or communities, can see where the money goes. This shows up in the results: 96% of healthcare workers say care has improved, and vaccine wastage dropped 83% because refrigeration is steady.”

BFI charity allocates $90M, pledges $200M for health, climate initiatives — *Source: The Given Block Annual* *Report*

According to The Giving Block’s report, BFI exemplifies the rapid growth of crypto philanthropy, with its $90 million in donations representing 9% of all cryptocurrency contributions tracked globally in 2024.

This surge aligns with the transformative potential of digital donations to enhance transparency and efficiency in fund allocation. The same report reveals that over 70% of the top 100 US-based charities now accept crypto.

Global charities are embracing crypto donations

Charitable organizations are increasingly embracing cryptocurrency donations, thanks to the transparency of the blockchain ledger, which makes donations publicly traceable and reduces the transaction fees of charitable transactions compared to fiat-based donations.

Beyond just the US, charities across the globe embrace crypto donations, including large charities like the UK Red Cross and Singapore Red Cross. Save the Children, a leading international nonprofit organization, disclosed that they had received $8.6 million in crypto donations so far.

As cryptocurrency adoption grows, so does the need for secure and compliant solutions for nonprofits. The Given Block announced its partnership with Gemini on March 13. The organization thinks artificial intelligence can help make crypto in philanthropy more secure.

Crypto donations have the potential to enhance charitable revenue. A report from Fast Company found that nonprofits with a strong track record of transparency experienced a 53% increase in contributions on average the following year compared to organizations lacking such transparency. As donation transparency improves, donor willingness to contribute also increases.

As the crypto market continues to grow, crypto donations are expected to be increasingly accepted by more organizations. The Giving Block estimates crypto donations in 2035 would be approximately $89.27 billion.

Additional reporting by Zoltan Vardai.

Magazine: Crypto is changing how humanitarian agencies deliver aid and services

19th March 2025

Erdogan Rival’s Arrest Sends Lira to Record Low, Bitcoin-TRY Volume Surging on Binance

The Turkish lira (TRY) fell to a record low against the dollar following the surprise arrest of President Recep Tayyip Erdogan’s rival and Istanbul mayor Ekrem Imamoglu.

The currency slumped a record of nearly 41 per U.S. dollar, a 10% slide on the day. The volatility saw a sharp rise in trading volumes in the bitcoin-lira (BTC/TRY) pair on leading cryptocurrency exchange Binance.

Imamoglu’s Republican People’s Party (CHP) described the arrest as a coup to replace the will of the people. The party was set to hold a primary election next week, with Imamoglu widely expected to emerge as the presidential candidate.

On Binance, the BTC/TRY pair saw 93 BTC change hands between 7:00 UTC and 8:00 UTC, according to data source TradingView. That’s the highest hourly volume in at least a year.

Still, when adjusted for the lira’s exchange rate, BTC traded at a massive discount to prices on Coinbase (COIN).

It’s possible traders sold BTC/TRY to move money into dollar-linked assets like USDT, the largest stablecoin. CoinDesk reached out to Binance for a comment on the matter.

Fiat-currency volatility is not new to Turkey and over the years it has galvanized demand for hard assets like gold and alternative assets like stablecoins and cryptocurrencies. The lira has consistently depreciated since at least 2017, when it 3.53 to the dollar.

19th March 2025

Crypto Daybook Americas: Memecoins Take Off on Tron While Bitcoin Looks to FOMC

By Francisco Rodrigues (All times ET unless indicated otherwise)

Cryptocurrency prices are seeing a slight recovery from Tuesday’s decline with bitcoin (BTC) gaining 0.5% and the broader CoinDesk 20 Index (CD20) advancing 0.8% in the last 24 hours.

The drop came before the Federal Reserve’s policy decision due later today. Interest rates are forecast to remain unchanged at 4.25%-4.5%, so investors will instead be focused on macro outlook with a potential end to quantitative tightening (QT) in sight.

Since mid-2022, the Fed has been slowly shrinking its balance sheet, which inflated to $9 trillion to support the economy during the COVID era. An earlier-than-expected end to quantitative tightening, which has so far reduced the Fed’s balance sheet to $6.7 trillion, could boost risk assets like bitcoin.

An end to QT would see the Fed stop withdrawing liquidity from the market, potentially weakening the dollar and making crypto assets more attractive. Traders on prediction market Polymarket are essentially certain an end to QT will be announced before May.

Another boost for risk assets came from the Bank of Japan (BOJ), which held its benchmark interest rate unchanged, despite growing inflation in the country. The decision keeps Japanese bond yields steady, limiting the attractiveness of these assets and attracting less capital to traditional markets. Still bitcoin failed to respond.

Bitcoin’s appeal as an alternative store of value has been seeing growing recognition. The number of public companies buying bitcoin has more than doubled to 80 from 33 in just two years, according to data from River. Strategy, the largest corporate holder of BTC, has even detailed plans to sell $500 million in preferred stock to buy more.

Yet, growing tariffs threats have reignited inflationary risks as economic growth stagnates. The result could be stagflation, a situation that wouldn’t please market participants. Stay alert!

What to Watch

Crypto:

March 20: Pascal hard fork network upgrade goes live on the BNB Smart Chain (BSC) mainnet.

March 21, 1:00 p.m.: The SEC’s Crypto Task Force hosts a roundtable, open to the public, that will focus on the definition of a security.

March 24 (before market open): Bitcoin miner CleanSpark (CLSK) will join the S&P SmallCap 600 index.

March 24, 11:00 a.m.: Bugis network upgrade goes live on Enjin Matrixchain mainnet.

March 25: The Mimir upgrade goes live on Chromia (CHR) mainnet.

Macro

March 19, 2:00 p.m.: The Federal Reserve announces its interest-rate decision. The FOMC press conference is likely to be live-streamed 30 minutes later.

Fed Funds Interest Rate Est. 4.5% vs. Prev. 4.5%

March 19, 3:00 p.m.: Argentina’s National Institute of Statistics and Census releases GDP data.

Full Year GDP Growth (2024) Prev. -1.6%

GDP Growth Rate QoQ (Q4) Prev. 3.9%

GDP Growth Rate YoY(Q4) Est. 1.7% vs. Prev. -2.1%

March 19, 5:30 p.m.: The Central Bank of Brazil announces its interest-rate decision.

Selic Rate Est. 14.25% vs. Prev. 13.25%

March 20, 3:00 a.m.: The U.K.’s Office for National Statistics releases January employment data.

Unemployment Rate Est. 4.4% vs. Prev. 4.4%

March 20, 8:00 a.m.: The Bank of England announces its interest-rate decision.

Bank Rate Est. 4.5% vs. Prev. 4.5%

March 20, 8:30 a.m.: The U.S. Department of Labor releases employment data for the week ended March 15.

Initial Jobless Claims Est. 224K vs. Prev. 220K

Continuing Jobless Claims Est. 1890K vs. Prev. 1870K

March 20, 3:00 p.m.: Argentina’s National Institute of Statistics and Census releases Q4 employment data.

Unemployment Rate Prev. 6.9%

March 20, 7:30 p.m.: Japan’s Ministry of Internal Affairs & Communications releases February consumer price index (CPI) data.

Core Inflation Rate YoY Est. 2.9% vs. Prev. 3.2%

Inflation Rate MoM Prev. 0.5%

Inflation Rate YoY Prev. 4%

Earnings (Estimates based on FactSet data)

March 27: KULR Technology Group (KULR), post-market, $-0.02

March 28: Galaxy Digital Holdings (GLXY), pre-market, C$0.38

Token Events

Governance votes & calls

Arbitrum DAO is voting on registering the “Sky Custom Gateway contracts” in the “Router contracts” to enable users to bridge USDS and sUSDS through the official Arbitrum Bridge UI.

Frax DAO is voting on introducing the WisdomTree Government Money Market Digital Fund (WTGXX) as an on-chain reserve for Frax USD.

March 21, 11:30 a.m.: Flare to host an X Spaces session on Flare 2.0.

Unlocks

March 21: Immutable (IMX) to unlock 1.39% of circulating supply worth $14.16 million.

March 23: Metars Genesis (MRS) to unlock 11.87% of its circulating supply worth $146.8 million.

March 31: Optimism (OP) to unlock 1.93% of its circulating supply worth $28.22 million.

April 1: Sui (SUI) to unlock 2.03% of its circulating supply worth $150.22 million.

April 3: Wormhole (W) to unlock 47.7% of its circulating supply worth $118.05 million.

April 7: Kaspa (KAS) to unlock 0.59% of its circulating supply worth $12.3 million.

Token Listings

March 19: Hamster Kombat (HMSTR) and DuckChain (DUCK) to be listed on Kraken.

March 31: Binance to delist USDT, FDUSD, TUSD, USDP, DAI, AEUR, UST, USTC, and PAXG.

Conferences

CoinDesk’s Consensus is taking place in Toronto on May 14-16. Use code DAYBOOK and save 15% on passes.

Day 2 of 3: Digital Asset Summit 2025 (New York)

Day 2 of 3: Fintech Americas Miami 2025

Day 1 of 2: Next Block Expo (Warsaw)

March 24-26: Merge Buenos Aires

March 25-26: PAY360 2025 (London)

March 25-27: Mining Disrupt (Fort Lauderdale, Fla.)

March 26: Crypto Assets Conference (Frankfurt)

March 26: DC Blockchain Summit 2025 (Washington)

March 26-28: Real World Crypto Symposium 2025 (Sofia, Bulgaria)

March 27: Building Blocks (Tel Aviv)

March 27: Digital Euro Conference 2025 (Frankfurt)

March 27: WIKI Finance EXPO Hong Kong 2025

March 27-28: Money Motion 2025 (Zagreb, Croatia)

March 28: Solana APEX (Cape Town)

April 2-3: Southeast Asia Blockchain Week 2025 Main Conference (Bangkok)

April 3-6: BitBlockBoom (Dallas)

April 6-9: Hong Kong Web3 Festival

April 8-10: Paris Blockchain Week

April 15-16: BUIDL Asia 2025 (Seoul)

Token Talk

By Shaurya Malwa

More than 590 new tokens were issued on the Tron blockchain-based SunPump today, marking the highest issuance in four months and spurring Tron founder Justin Sun to post “tron meme szn” on X.

Sun later posted that trading fees will be “subsidized,” adding that every memecoin would be “back on Tron.”

SunPump allows instant trading without initial liquidity seeding, fueling the frenzy. It has pocketed $5.74 million in fees in the past 24 hours, reaching levels not seen since August.

Derivatives Positioning

Bitcoin futures open interest (OI) on centralized exchanges has risen above $55 billion, up 32% since Feb. 23, with OI in SOL and ETH futures remaining mostly stagnant. The market is clearly biased toward the leading cryptocurrency.

Positioning in the BTC CME futures, however, remains light, near February lows.

NEAR, TON and TRX are leading growth in perpetual futures open interest in the past 24 hours. NEAR stands out with negative cumulative volume delta, pointing to net selling.

Deribit-listed BTC and ETH options continue to show bias for short and near-dated protective puts.

Market Movements:

BTC is up 1.84% from 4 p.m. ET Tuesday at $83,576.60 (24hrs: +0.88%)

ETH is up 2.04% at $1,945.99 (24hrs: +2.6%)

CoinDesk 20 is up 2.2% at 2,624.87 (24hrs: +1.6%)

Ether CESR Composite Staking Rate is unchanged at 2.96%

BTC funding rate is at 0.0071% (7.74% annualized) on Binance

DXY is down 0.32% at 103.57

Gold is unchanged at $3,030.30/oz

Silver is down 1.24% at $33.70/oz

Nikkei 225 closed -0.25% at 37,751.88

Hang Seng closed +0.12% at 24,771.14

FTSE is down 0.15% at 8,691.31

Euro Stoxx 50 is up 0.15% at 5,493.38

DJIA closed on Tuesday +0.62% at 41,581.31

S&P 500 closed -1.07% at 5,614.66

Nasdaq closed -1.71% at 17,504.12

S&P/TSX Composite Index closed -0.32% at 24,706.07

S&P 40 Latin America closed unchanged at 2,476.87

U.S. 10-year Treasury rate is unchanged at 4.29%

E-mini S&P 500 futures are up 0.23% at 5,682.25

E-mini Nasdaq-100 futures are up 0.32% at 19,764.25

E-mini Dow Jones Industrial Average Index futures are up 0.16% at 42,004.00

Bitcoin Stats:

BTC Dominance: 61.62 (0.27%)

Ethereum to bitcoin ratio: 0.02329 (-0.30%)

Hashrate (seven-day moving average): 773 EH/s

Hashprice (spot): $47.30

Total Fees: 5.13 BTC / $428,677

CME Futures Open Interest: 154,060 BTC

BTC priced in gold: 27.2 oz

BTC vs gold market cap: 7.71%

Technical Analysis

BTC’s recent bounce toward the 200-day simple moving average (SMA) is accompanied by a declining trend in daily trading volumes.

The discrepancy raises a question mark on the sustainability of the recovery.

Plus, the 50-day SMA has crossed below the 100-day SMA, a bearish signal that the path of least resistance is to the downside.

Crypto Equities

Strategy (MSTR): closed on Tuesday at $283.19 (-3.77%), up 1.95% at $288.47 in pre-market

Coinbase Global (COIN): closed at $181.14 (-4.14%), up 1.36% at $183.60

Galaxy Digital Holdings (GLXY): closed at C$17.09 (-1.5%)

MARA Holdings (MARA): closed at $12.07 (-6.94%), up 1.74% at $12.28

Riot Platforms (RIOT): closed at $7.40 (-4.64%), up 1.22% at $7.49

Core Scientific (CORZ): closed at $8.02 (-8.45%)

CleanSpark (CLSK): closed at $7.59 (-6.53%), up 1.98% at $7.74

CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed at $14.25 (-7.29%)

Semler Scientific (SMLR): closed at $35.49 (-1.5%), up 9.33% at $38.80

Exodus Movement (EXOD): closed at $30.26 (-6.46%)

ETF Flows

Spot BTC ETFs:

Daily net flow: $209.1 million

Cumulative net flows: $35.87 billion

Total BTC holdings ~ 1,116 million.

Spot ETH ETFs

Daily net flow: -$52.8 million

Cumulative net flows: $2.47 billion

Total ETH holdings ~ 3.472 million.

Source: Farside Investors

Overnight Flows

Chart of the Day

Programmable blockchain Solana leads other platforms with the highest number of daily active addresses and daily transactions despite a slowdown in the memecoin trading frenzy.

The data supports the bull case for the blockchain’s SOL token versus native coins of other smart-contract blockchains.

While You Were Sleeping

Investors Pump $22B Into Short-Term U.S. Debt to Ride Out Market ‘Storm’ (Financial Times): Investors, wary of Donald Trump’s economic policies, are moving into haven assets, with short-term Treasury funds seeing $21.7 billion in net inflows from early January to March 14.

Bank of Japan Keeps Interest Rates Steady, Warns of Trump Tariff Risks (Reuters): The central bank held its benchmark rate at 0.5%, as economists forecast. Governor Kazuo Ueda indicated that future rate policy is likely to reflect the effects of tariffs imposed by the U.S.

Drone Strike Sets Fire to Russia Oil Depot Near Damaged CPC Link (Bloomberg): Despite a proposal discussed Tuesday by Donald Trump and Vladimir Putin to halt attacks on energy infrastructure, a key Russian oil depot was struck by a Ukrainian drone early Wednesday.

Raydium’s RAY Jumps 13% as DEX Reveals Own Token Issuance Platform (CoinDesk): The Solana-powered decentralized exchange Raydium is reportedly planning to launch a platform named LaunchLab to increase revenue and expand its user base.

Untangled Finance Brings Moody’s Credit Scores On-Chain (CoinDesk): The proof of concept system, powered by Polygon’s Amoy testnet, uses zero-knowledge proof technology to securely publish, update and withdraw credit ratings on-chain, protecting proprietary information.

North Dakota Senate Passes Crypto ATM Bill to Create Licensing Regime (CoinDesk): House Bill 1447 requires crypto ATM operators to issue fraud warnings, obtain money transmitter licenses, use blockchain analytics software for fraud detection, submit quarterly reports and appoint a compliance officer.

In the Ether

19th March 2025

AI and crypto drive criminal efficiency: Europol

The European Union Agency for Law Enforcement Cooperation (Europol) published a report explaining how artificial intelligence and crypto affected organized crime.

In a threat assessment report on serious and organized crime, Europol stated that AI and crypto play a role in criminal efficiency. The law enforcement organization said criminal networks have demonstrated an ability to rapidly adapt to new technology.

The report said AI’s transformative qualities make it an attractive tool for criminals. The report said that generative AI had “lowered the barriers to entry” for digital crimes.

The government agency said AI lets criminals craft messages in multiple languages, targeting victims more precisely and globally. It also allowed malicious actors to create malware and child sexual abuse material.

How AI and crypto drive criminal efficiency

Europol also stated that AI’s automation capabilities have been transforming the efficiency of criminal operations. The government agency said criminals can automate their phishing campaigns using AI. Because of this, malicious actors can reach more victims with large-scale cyberattacks.

Europol said in the report that realistic synthetic media allows criminals to deceive victims, impersonate individuals and blackmail their targets. The organization wrote:

“The addition of AI-powered voice cloning and live video deepfakes amplifies the threat, enabling new forms of fraud, extortion, and identity theft.”

On Feb. 13, Blockchain analytics firm Chainalysis said that generative AI is “amplifying scams.” The analytics company said AI is making scams more affordable and more scalable. Chainalysis’ head of fraud products, Elad Fouk, said AI facilitates the creation of fake identities, allowing fraudsters to impersonate real users.

Apart from AI, the report also noted how blockchain-based technologies like cryptocurrency and non-fungible tokens (NFTs) have moved beyond cybercrime and are now involved in other traditional crime areas. This includes drug trafficking and migrant smuggling.

Europol also said that more criminal schemes have emerged to steal crypto, NFTs and resources used to mine crypto.

ZachXBT says the Bybit hack shows how the industry is “cooked”

The most recent high-profile criminal activity in the crypto space is the Bybit hack, which led to nearly $1.5 billion in losses. In a Telegram post, crypto investigator ZachXBT said the hack has been “eye-opening,” showing how the industry is “unbelievably cooked” with hacks and exploits.

The crypto sleuth said the industry may be unable to fix itself unless the government “forcibly passes regulations that hurt our entire industry.” The investigator shared that as he helped freeze funds related to the hack, he witnessed flaws with decentralized and centralized protocols. ZachXBT wrote:

“Several ‘decentralized’ protocols have recently had nearly 100% of their monthly volume/fees derived from DPRK and refuse to take any accountability.”

The crypto investigator said North Korean hackers laundering the funds have demonstrated the flaws of Know Your Transaction and Know Your Customer protocols.

“Centralized exchanges end up being worse as when illicit funds flow through them a few take multiple hours to respond when it only takes minutes to launder,” ZachXBT said.

Magazine: Classic Sega, Atari and Nintendo games get crypto makeovers: Web3 Gamer

19th March 2025

Solana stablecoin positioning threatens ‘extreme’ SOL volatility

Investors’ stablecoin positioning on the Solana network and a key technical chart pattern threaten more volatility for the Solana token, which may see a decisive moment for its price action.

Solana’s transport layer saw “extreme” volatility in trading the Tether’s USDt (USDT) stablecoin, which may indicate that traders are repositioning in search of new investment opportunities.

USDT trading on Solana’s transport layer saw an over 137% surge during the last week of February, after seeing a 61% plunge during the previous week, according to a report by global payments infrastructure platform Mercuryo, shared with Cointelegraph.

The stablecoin trading spikes show an unparalleled level of trading activity that may signal more volatility for the Solana (SOL) token, according to Petr Kozyakov, co-founder and CEO of Mercuryo.

The “frenetic activity” may “indicate that the chain is prone to be more volatile,” the CEO told Cointelegraph, adding:

“However, Solana’s inherent strengths – fast transaction processing, high scalability, and an active trading ecosystem – may also be factors. This is against a backdrop of an ecosystem attracting at times high trading volumes.”

“Notably, DEX’s on Solana, such as Jupiter and Raydium, have ignited significant interest,” he added.

Meanwhile, a key emerging technical chart pattern may be decisive for Solana’s price action in the near term.

Solana stablecoin positioning threatens ‘extreme’ SOL volatility — *Source:* *Trader Tardigrade*

“Solana Heikin Ashi hourly chart shows a Converging Triangle. Both bullish or bearish moves are possible,” wrote pseudonymous crypto analyst Trader Tardigrade in a March 19 X post.

Memecoins, FTX repayments may be limiting SOL price

While some analysts suggest that the current memecoin frenzy has been siphoning liquidity from the Solana token, multiple other factors are influencing SOL’s price action.

Notably, the incoming repayments from bankrupt FTX exchange may limit Solana’s price action, explained Kozyakov, adding:

“The defunct FTX exchange has set up a repayment plan that involves distributing a large amount of SOL tokens to creditors, which can potentially result in selling pressure.”

FTX and Alameda Research-linked wallets unstaked $431 million of SOL tokens on March 4, marking the biggest SOL token unlock since November 2023, Cointelegraph reported.

Although FTX and Alameda unlocked more than $400 million in SOL, the firms may not be able to sell all the tokens in a single transaction. In September 2023, the Delaware Bankruptcy Court approved FTX’s plan to sell digital assets, imposing strict limits on liquidation amounts.

Under the court ruling, the bankrupt exchange can sell digital assets weekly through an investment adviser, with an initial limit of $50 million in the first week and $100 million in subsequent weeks. If FTX seeks to sell more, it must request court approval to raise the limit to $200 million per week.

FTX’s next round of repayments will take place on May 30. Under FTX’s recovery plan, 98% of creditors are expected to receive at least 118% of their claim value in cash. In May 2024, the exchange estimated the distribution’s total value to range between $14.5 billion and $16.3 billion.

Magazine: ETH may bottom at $1.6K, SEC delays multiple crypto ETFs, and more: Hodler’s Digest, March 9 – 15

19th March 2025

Dogecoin Shark & Whale Population Rises—Price Turnaround Incoming?

On-chain data shows the Dogecoin shark and whale wallets have been increasing in number recently, a sign that could be bullish for DOGE’s price.

Dogecoin Sharks & Whales Have Been Expanding Despite Price Decline

According to data from the on-chain analytics firm Santiment, Dogecoin has recently seen a rise in a couple of important indicators. The first metric of relevance here is the “Supply Distribution” of the DOGE wallets carrying more than 1 million tokens.

The Supply Distribution tells us, among other things, the number of addresses that belong to a particular coin range. The indicator for the 1 to 10 coins group, for instance, measures the amount of holders who own at least 1 and at most 10 DOGE in their balance.

The 1 million+ DOGE cohort, which is the range of focus here, includes two key investor groups: sharks and whales. At the current exchange rate, the cutoff for the range converts to around $166,600. This is clearly quite a significant amount, which is why the entities belonging to the sharks and whales are considered important on the network.

Now, here is the chart that shows the trend in the Dogecoin Supply Distribution for the 1 million+ coins range over the last few months:

Dogecoin Supply Distribution

As displayed in the above graph, the Dogecoin Supply Distribution of the sharks and whales observed a plunge when the bearish action in the memecoin’s price first started in January.

Since the start of February, however, the indicator has reversed its direction and has been following an upward trajectory. Interestingly, this wallet increase has come despite the fact that the asset’s decline has only furthered during the period.

The trend would imply that, although the big-money investors panic sold when the drawdown first began, they have since shifted their attention to accumulating the dip instead.

In total, the shark and whale wallets have gone up by 62 (around 1.24%) since the beginning of February and are now not far from the peak witnessed back in January.

The increase in the large wallets isn’t the only positive sign Dogecoin has seen; there has also been bullish development in another indicator attached in the chart. The metric in question is the Active Addresses, which keeps track of the total number of DOGE addresses taking part in some kind of transaction activity on the blockchain every day.

From the graph, it’s visible that the Dogecoin Active Addresses has jumped to a 4-month high recently, suggesting a large amount of users have been making transfers on the network.

While the increase in the shark and whale wallets has been occurring for a while now, the signal in the Active Addresses is a more recent one. It would appear that the current low prices may have finally caught the attention of the masses, who are now coming active to make their moves.

DOGE Price

At the time of writing, Dogecoin is trading around $0.166, up around 4% in the last seven days.

Dogecoin Price Chart

19th March 2025

Community slams Crypto.com CEO over 70B CRO re-issuance

Major cryptocurrency exchange Crypto.com came under fire following an allegedly manipulated vote leading to a massive token burn reversal on Crypto.com’s Cronos blockchain.

Crypto.com CEO Kris Marszalek took to X on March 19 to highlight the firm’s financial and regulatory stability amid the ongoing controversy over the 70 billion Cronos (CRO) token re-issuance.

Essentially canceling the 70 billion CRO token burn announced in 2021, the vote on bringing back the tokens has triggered outrage from the community, with many commentators criticizing the CEO for not addressing the issue in his new thread on X.

“So you made $1 billion profit but needed to mine 70 billion CRO instead of using those funds to buy some off the market and help your core community remain positive,” one commentator wrote.

Community slams Crypto.com CEO over 70B CRO re-issuance — *Source: Crypto.com CEO Kris Marszalek*

“The largest token burn in history”

Disclosed in February 2021 in a now-deleted post on the Crypto.com blog, the 70 billion CRO token burn was called the “largest token burn in history” with a goal to “fully decentralize the network” at the CRO mainnet launch.

“Aligned with our belief, and with the CRO chain mainnet launch just around the corner, we are fully decentralizing the chain network,” the blog post said, announcing an immediate burn of 59.6 billion tokens.

Following the immediate 59.6 billion CRO burn, 0.4 billion of the remaining tokens were directed to monthly burns, while another 5.9 billion CRO was sent to block rewards, and 0.9 billion CRO was allocated to Particle B for chain ecosystem development.

Why reverse the burn?

In four years following the burn, a Cronos blog post on March 2 announced a vote on the creation of a Cronos Strategic Reserve by reversing the 2021 token burn.

“In 2021, 70 billion CRO were burnt in one of the most significant burn transactions in history. Under today’s proposal, an equal number of tokens will be re-issued on Cronos POS into a Cronos Strategic Reserve escrow wallet, bringing the total supply back to the initial supply of 100 billion CRO,” the announcement said.

Launched on March 3, the vote received lots of negative feedback from the community on social media, with many posters urging that the CRO re-issuance was the “opposite of what this community wants.”

“I hope that people vote against this, this is a terrible idea,” one commenter said.

Last-minute voters approved re-issuance

Despite notable community backlash, the vote results came in favor of a Cronos Strategic Reserve, spurring controversy and speculation over alleged vote manipulation.

“Totally manipulation to come in at the last minute and vote yes, the CDC [crypto dot com] is as centralized as a blockchain can be, and shouldn’t be since there’s no real governance when 70% of the voting power is in the CDC,” one GitHub commentator wrote.

According to Laura Shin’s Unchained sources, Crypto.com allegedly controls 70-80% of the total voting power, essentially removing the need for any governance vote at all.

Following the massive backlash, Crypto.com announced an ask-me-anything event coming on March 25, with the CRO token burn apparently becoming the main issue on the agenda.

“Looking forward to catching up with our community on Tuesday,” Crypto.com CEO said in a March 19 post on X, adding the hashtag “MakeCROGreatAgain.”

Cointelegraph approached Crypto.com for a comment regarding the burn reversal but did not receive a response at the time of publication.

Magazine: Ridiculous ‘Chinese Mint’ crypto scam, Japan dives into stablecoins: Asia Express

19th March 2025

SUI Ready For 15% Move Amid Key Level Retest – Breakout Or Breakdown Ahead?

SUI, the Sui Network’s native token, is retesting a key support level after surging near the $2.40 mark. As the cryptocurrency attempts to hold its current range, some analysts suggest that a breakout is imminent for the token’s price.

SUI Eyes Key Resistance

On Monday, SUI saw its price surge 7% near a key resistance level, fueling bullish sentiment among investors. The cryptocurrency has been one of the leading tokens of the cycle, outperforming most of the market during the 2024 pullbacks.

Nonetheless, the cryptocurrency has shredded over 57% of its gains in the past few months, falling from its $5.31 January all-time high (ATH) to the $2.20 range. After losing the $4 support zone, SUI has hovered between the $2.1-$3.5 zone, briefly falling below $2 last Tuesday.

Since reaching its 4-month low, SUI has recovered 7.8% in the weekly timeframe, climbing to $2.37 today. According to analyst Ted Pillows, its recent price action has completed an inverse head and shoulder pattern, with the price potentially moving toward the $2.45 breakout level.

A sustained surge above this level could send the token to retest the recently lost $2.6 support. To the analyst, “a big breakout is just a matter of time,” as institutions are taking interest in the token.

Notably, Canary Capital filed a Form S-1 for an SUI spot exchange-traded fund (ETF) with the US Securities and Exchange Commission (SEC) on March 17, fueling yesterday’s 7% rally.

This move follows Canary’s March 6 filing to register a trust for an SUI-based fund in Delaware. On the same day, Sui announced it had partnered with World Liberty Financial (WLFI), the US President Donald Trump’s crypto venture, to include the token in its “Macro Strategy” token reserve.

$2.26 Retest: Breakout Or Breakdown?

Crypto analyst Ali Martinez suggested that the token is ready for a 15% move. In an X post, he highlighted a one-week ascending triangle pattern forming in SUI’s chart, with the ascending support line currently at the $2.26 mark and $2.40 set as a crucial resistance level.

According to the analyst, the 15% move’s direction will be determined by a close above the resistance line, which would send the price to the $2.80 price range, or a close below the support level, which could see the cryptocurrency plunge to $1.90.

Since hitting its daily high of $2.37, SUI has retraced to the pattern’s support level, briefly falling to $2.22 before bouncing back above the ascending line. Despite the small recovery, the token has struggled to hold above the crucial level, hovering between $2.23-$2.26 throughout Tuesday morning.

Meanwhile, market watcher Pushpendra Singh highlighted SUI’s current level as a “strong buying zone.” The $2-$2.3 price range served as a key breakout level during the November post-US election pump.

Moreover, its recent retest and bounce from this level suggests a “breakout to the upside could be imminent.” According to the post, the cryptocurrency eyes the $7 target in the mid-term.

As of this writing, SUI trades at $2.25, a 5% decline in the daily timeframe.

SUI, SUIUSDT

19th March 2025

Digital Chamber Gets New Chief as Crypto Lobbyists Embrace Friendlier Washington

The Digital Chamber will elevate Cody Carbone to be its chief executive officer next month, replacing founder Perianne Boring, who is stepping down after a decade atop the oldest U.S. crypto advocacy group.

As it prepares for its latest Washington, D.C., blockchain summit next week, the Digital Chamber informed its members that Boring will be moving to chair the organization’s board while Carbone — a longtime crypto policy presence — takes over as CEO. The group’s transition coincides with the long-awaited shift in the U.S. government from digital assets reluctance to an embrace from President Donald Trump and an enthusiastic Congress.

“We’re no longer in a defensive stance, where we have a government that’s essentially trying to shut down the industry,” Boring said in a CoinDesk interview.

Digital assets are enjoying a wave of U.S. government support, with a presidential summit at the White House earlier this month and signs of progress in the Senate and House of Representatives, which both easily advanced a crypto matter in recent days. But the two core bills — the regulation of stablecoins and the setting of guardrails for the overall industry — represent the ultimate goal to establish crypto as a full-fledged, regulated corner of the U.S. financial system.

That means Carbone, formerly the Digital Chamber’s chief policy officer, will seek to have a hand in the stablecoin and crypto market-structure legislation brewing in Congress now.

“We haven’t gotten anywhere, yet,” Carbone told CoinDesk this week. The industry has, during his predecessor’s years of lobbying, been “constantly addressing misconceptions, bad narratives, fighting back against the government.” Despite the new political success, “sky-high” expectations from crypto enthusiasts and well-placed support across the government, the organization has to “focus all of our efforts on meeting those expectations, getting the policies enacted that we want.”

The sector’s first legislative accomplishment during Carbone’s tenure may be the reversal of an Internal Revenue Service rule that would have treated decentralized financial (DeFi) projects as brokerages that needed to keep tabs on their users for tax purposes. Lawmakers are tapping their powers under the Congressional Review Act to roll back the Biden-administration rule, and major surges of Democratic support helped the resolution clear both chambers, so it’s only awaiting a procedural second approval from the Senate before heading to Trump’s desk to be signed.

That would mark the inaugural pro-crypto effort to wind its way successfully to a U.S. president’s signature, but the other legislation is Carbone’s top aim, and he predicted it’ll happen this year.

“Cody really shines on that execution,” Boring said. “So that is the immediate priority, executing all the things we’ve spent the past year or the past decade building and getting those done.”

The digital assets space has a crowded field of lobbying groups stalking the halls of the Capitol, White House and the regulatory agencies. The Digital Chamber is among the most prominent of them and has the most members, though its budget has been outpaced by the Blockchain Association in recent years.

The list of advocacy and educational organizations also includes the Crypto Council for Innovation, Coin Center, DeFi Education Fund and others, including the brand new association launched by Ripple Labs, the National Cryptocurrency Association, which is being backed by a massive $50 million grant.

Boring said she has no immediate commitment for a role outside the organization

“My next step is really kind of exploring additional passions that I have in the crypto space,” she said.

19th March 2025

The Man Who Stabbed CEO of South Korean Crypto Firm Haru Invest Could Face Decade in Prison

A South Korean man who attacked the CEO of collapsed crypto firm, Haru Invest, is now facing a potential decade behind bars, according to local media reports.

Prosecutors in Seoul have requested a 10-year prison sentence for someone local media is only identifying by his last name Kang, a man in his 50s who stabbed Haru Invest CEO Lee Hyung-soo during a court hearing last year.

Haru Invest paused withdrawals in 2023, citing partner issues, without giving a specific reason, before its executives were arrested in 2024 for allegedly stealing $828 million in customer funds.

Kang’s defense argued that he had no intent to kill, noting that he did not target a fatal area and acted in a moment of extreme emotional distress after losing 100 BTC (worth $8.3 million) due to Haru Invest’s collapse.

His lawyers pushed for a reduced charge of aggravated assault rather than attempted murder, citing his severe financial and psychological hardship.

Ahead of the hearing, the local media reported that Haru Invest Victims’ Association held a press conference demanding Kang’s release, arguing that fraud victims like him were being treated unfairly while executives accused of embezzling hundreds of millions of dollars walked free on bail.

Kang is due back in court on April 4 for sentencing.

19th March 2025

Bitcoin Price Little Changed as Bank of Japan Keeps Interest Rate Steady

The bitcoin (BTC) price showed little reaction after the Bank of Japan (BOJ) held its benchmark interest rate unchanged at 0.5% on Wednesday, a decision that aligned with market expectations, as policymakers assessed the potential impact of U.S. tariffs under President Donald Trump on Japan’s export-driven economy.

The BOJ highlighted “high uncertainties” surrounding trade policies, with Governor Kazuo Ueda emphasizing the need to monitor how the tariff plans could ripple through global and Japanese markets.

The decision comes ahead of a U.S. Federal Reserve meeting, where rates are also expected to remain steady as Trump’s tariff policies loom large.

Japan’s monetary policy and bond yields have often influenced BTC markets. A stronger yen and rising yields tend to weigh on bitcoin by attracting capital to traditional assets while a stable or weaker yen supports the cryptocurrency’s appeal as an alternative store of value.

That said, when the bank raised rates in January, the bitcoin price held steady because attention was focused on potential policy developments under Donald Trump’s residency.

Wednesday’s rate decision keeps Japanese bond yields in check, limiting pressure on bitcoin’s price.

19th March 2025

Stablecoin users grew 53% in one year: Report

A joint report by onchain analysis platforms Artemis and Dune showed that active stablecoin wallets increased by over 50% in one year.

The report, titled “The State of Stablecoins 2025: Supply, Adoption & Market Trends,” showed that from February 2024 to February 2025, active addresses increased from 19.6 million to 30 million. This represents a 53% increase year-on-year.

The onchain analysis platforms said this expansion suggests wider user engagement. The report added that in 2024, stablecoins have emerged as a bridge between traditional finance and crypto, becoming a critical component of digital finance.

Apart from increased institutional adoption, stablecoins’ growing use in payments and decentralized finance (DeFi) and its broader accessibility were cited as some of the reasons spurring the growth of stablecoin active addresses.

Stablecoin users grew 53% in one year: Report — *Active stablecoin addresses from February 2024 to February 2025. Source: Artemis*

Total stablecoin supply increased by 63% in one year

Apart from the number of active addresses, the total supply of stablecoins also increased. The report highlighted that in February 2024, stablecoins had a total supply of $138 billion. However, in February 2025, the supply reached $225 billion, showing a 63% growth year-on-year.

Unlike other crypto assets, stablecoins maintain a value of $1, meaning their market capitalization is similar to their total supply.

In addition to other metrics, stablecoin monthly transfer volume rose in the same time frame. In February 2024, stablecoins’ monthly transfer volume was $1.9 trillion. This increased to $4.1 trillion in February 2025, a 115% year-on-year increase.

The highest recorded volume for stablecoins happened in December 2024, when volumes reached $5.1 trillion. However, this was followed by a decline in 2025. In total, stablecoins facilitated $35 trillion in total transfers over the past year.

While other metrics showed explosive growth, the average transfer size for stablecoins showed little increase. The figure moved from $676,000 in 2024 to $683,000 after one year.

Despite this, the metric showed spikes in May, where it reached $2.6 million and in July, when it recorded $2.2 million. This suggests heightened whale or institutional activity with stablecoins.

Artemis and Dune analysts said the fluctuations indicate the widespread use of stablecoins in retail and institutional transactions.

Magazine: Crypto fans are obsessed with longevity and biohacking: Here’s why

19th March 2025

Battered Bitcoin Looks to U.S. Fed for Support, Bank of America Predicts End of Quantitative Tightening

As bitcoin (BTC) looks to recover from its recent downturn, observers are looking to Wednesday’s Federal Reserve (Fed) rate decision to offer support, with some saying that an announcement to end the balance sheet runoff program, known as quantitative tightening, could be positive news for the market.

The Fed will announce its rate review at 18:00 UTC, followed by Chairman Jerome Powell’s press conference half an hour later.

The bank is unlikely to offer any surprises on the interest rate front, retaining the present range of 4.25% to 4.50%. Therefore, the focus will be on how policymakers plan to proceed with the quantitative tightening program, given the concerns that it could affect liquidity in the system while the Treasury grapples with the ongoing debt ceiling issue. Plus, the summary of economic projections will be watched out by markets.

Since June 2022, the Fed, under the QT program, has been slowly shrinking its balance sheet, which had zoomed to a record of $9 trillion post COVID when the bank bought trillions of dollars worth of assets, including bonds, to support markets.

The minutes of the January Fed meeting showed policymakers discussed pausing or slowing the reversal of the balance sheet expansion that greased the crypto bull market of 2020-21. So, the possibility of Powell hinting the same later today cannot be ruled out.

“Late last year, Fed Chair Powell hinted that the end of QT was coming in 2025. If he mentions it in tomorrow’s [Wednesday’s] statement or press conference (I imagine someone will ask him), that would end up signalling that we’re in a new monetary regime, and that the Fed stands ready to resume additional debt purchases should QE become necessary again,” Noelle Acheson, author of the Crypto Is Macro Now newsletter said in Tuesday’s edition.

“While renewed QE [quantitive easing] unlikely any time soon, the additional liquidity from a large buyer (the Fed) coming back into the market to replace maturing holdings would be good news,” Acheson added, noting that the end of QT would be a timely move to avoid liquidity glitches in the Treasury market that faces $9 trillion in debt maturity this year.

New York Life Investments’ Economist Lauren Goodwin voiced a similar opinion, saying a slightly earlier end to the balance sheet runoff could provide the market with a dovish signal it is looking for.

Traders over decentralized betting platform Polymarket see a 100% chance that the Fed will end the QT program before May. The betting on the same will resolve in “Yes” if the central bank increases the amount of securities it holds outright week-over-week by the end of April.

Bank of America predicts end of QT

Several investment banks, including Bank of America, expect the Fed to end QT in a meeting characterized by uncertain economic outlook mainly stemming from President Donald Trump’s trade tariffs.

“Our rates strategists expect the statement to indicate that the Fed is pausing QT until the debt ceiling is resolved, as suggested in the January meeting minutes. They do not expect to restart after the debt ceiling is addressed, but the announcement won’t be made until later this year,” Bank of America’s March 14 client note said.

A pause in QT could put downward pressure on the yield on the 10-year U.S. Treasury note, the so-called risk-free rate, galvanizing demand for riskier assets.

Watch out for stagflation hints

Trump’s tariffs have revved up inflation risks while posing risks to economic growth, a stagflationary situation, and the Fed’s summary of economic projections (SEP) could reflect that. A nod to stagflation could mean a delay in further rate cuts, potentially limiting bitcoin gains from a QT pause announcement.

According to Acheson, chances of a stagflationary adjustment in the SEP – lower GDP projections and higher core PCE estimates, with more policymakers citing upside risks to inflation – are high.

“If, indeed, we get that stagflationary shift in official projections, the market is unlikely to be happy. To some extent, these are starting to be priced in – but confirmation that the Fed is likely to push rate cuts even further out could startle those counting on liquidity injections,” Acheson said.

The recently released U.S. retail sales and regional manufacturing indices revealed signs of economic weakness, Meanwhile, forward-looking inflation metrics have been rising, likely adjusting to Trump’s tariffs.

Bank of America put it best: “The combination of signal from the latest data and policies enacted to date should result in the Fed downgrading growth and upgrading inflation this year, a small nod to stagflation.”

“The dot plot should still show two cuts in ’25 and ’26,” the investment bank added.

19th March 2025

Litecoin Breaks Under Parallel Channel: Analyst Predicts This Target

An analyst has pointed out how Litecoin has slipped under a parallel channel recently and could be set to see a move to this price level.

Litecoin Has Broken Under Parallel Channel Support

In a new post on X, analyst Ali Martinez has discussed about a parallel channel for Litecoin. The “parallel channel” refers to a pattern from technical analysis (TA) that forms when the price of an asset consolidates between two parallel trendlines.

There are three types of parallel channels, but in the context of the current topic, the one where the channel is parallel to the time-axis is of interest. In this pattern, the trendlines track successive highs and lows of roughly equal magnitude. That is, the asset is consolidating completely sideways when inside the channel.

The upper line of the parallel channel is likely to be a source of resistance for the price in the future, meaning that tops can occur there. Similarly, the lower level can be where bottoms take place.

If the asset manages to break past either of these barriers, however, then it may go on to see a continuation of trend in that direction. That is, an escape above the channel can be a bullish signal, while a fall under it can be a bearish one.

As mentioned before, there are other types of parallel channels as well. Namely, the ascending and descending versions. These occur when the trendlines have a slope to them. That is, when the price’s consolidation happens towards a net upside or downside. Naturally, the ascending channel forms when the slope is positive and the descending one when it’s negative.

Until recently, the daily price of Litecoin was potentially trading inside a parallel channel. Here’s the chart shared by the analyst, that shows this pattern for the cryptocurrency:

Litecoin Parallel Channel

From the graph, it’s visible that the recent bearish action in Litecoin has meant that its price has fallen under the parallel channel. If the pattern holds, this breakout would mean a bearish outcome for the asset.

Generally, moves emerging out of a parallel channel are of the same length as the height of the pattern itself. Based on this, the analyst has put a target for LTC. “Exiting this channel sets up a price move to $70,” notes Martinez.

Since the plunge under the lower trendline of the pattern has happened, Litecoin has been moving down. It only remains to be seen, though, whether the decline would extend to this price target or not.

LTC Price

Litecoin has suffered a drop of almost 6% in the last 24 hours, which has erased the earlier recovery and brought its price down to $88.

Litecoin Price Chart

19th March 2025

Raydium’s RAY Jumps 13% as DEX Reveals Own Token Issuance Platform

Solana-based decentralized exchange Raydium is set to start its own token issuance platform in the coming weeks to drive more revenue to the already-popular trading service.

Raydium’s native RAY token is up 13% in the past 24 hours, beating a 1.62% gain in the broader market tracked by the CoinDesk 100 (CD100) index.

Raydium’s LaunchLab will initially resemble the hit token issuance platform Pump.Fun, Blockworks first reported. Though developers say it will have several added features that make it more appealing for token launches.

LaunchLab will have three types of bonding curves that match demand and price for a token and will let third-party UIs set their fees. A bonding curve is an automatic system that adjusts prices as tokens are bought or sold on DEXs.

Raydium developer @0xINFRA said in an X post that the service could be easily added to applications that already use Raydium’s existing services — such as AMM v4, CP-Swap, CLMM pools.

“We’re not here to compete with launchpads currently using Raydium — LaunchLab makes on-chain token launches easier for teams, offering a neutral, permissionless infra,” he said.

Raydium is currently generating over $1 million in fees every day from trading across all its liquidity pools, not just those of Pump.fun tokens. However, over 30% of Raydium’s daily trading volume came from Pump.fun tokens as of February, according to a Dune dashboard.

Pump.Fun, which lets anyone issue a token for less than $2 in capital, after which they choose the number of tokens, theme, and meme picture to accompany it. These tokens are automatically listed for trading on Raydium after reaching a $69,000 market capitalization.

But, in late February, Pump.Fun apparently moved away from using Raydium as its migration platform by launching its AMM tool (meaning tokens would be available for further trading on Pump instead of Raydium).

The two teams do not have an official partnership in place and haven’t publicly commented on the recent developments.

Meanwhile, @0xINFRA shut down early rumors of LaunchLab being a mere Pump.Fun fork.

“Not a Pump fork, LaunchLab’s PoC UI mimics it for familiarity, but it’s far more versatile,” he said in the X post. “It’s the first of a tool suite—more models in progress to tackle diverse liquidity needs. Open to feedback and collabs for custom models. Not about stealing Pump’s users—it’s about enriching Solana,” he added.

19th March 2025

Bitcoin futures 'deleveraging' wipes $10B open interest in 2 weeks

Bitcoin (BTC) exchanges are getting a key “deleveraging event,” which should shape future gains, new research says.

In one of its “Quicktake” blog posts on March 17, onchain analytics platform CryptoQuant revealed a $10 billion capitulation on Bitcoin futures markets.

Bitcoin sees “essential” event for BTC price rebound

Bitcoin derivatives traders have flipped firmly risk-off since BTC/USD hit its current all-time highs in mid-January.

CryptoQuant, which uses data from various major crypto exchanges, calculates that aggregate open interest (OI) on futures fell by $10 billion in just three weeks from Feb. 20 through March 4.

“On January 17th, Bitcoin’s open interest reached an all-time high of over $33B, indicating that leverage in the market had never been this high,” contributor Darkfost writes.

The drop, he argues, “can be considered as a natural market reset, an essential phase for sustaining a bullish continuation.”

Bitcoin futures 'deleveraging' wipes $10B open interest in 2 weeks — *Bitcoin futures OI data for top exchanges. Source: CryptoQuant*

An accompanying chart shows the 90-day rolling change in aggregate OI, highlighting the severity of the market’s U-turn following the all-time highs.

“Currently, the 90-day change in Bitcoin futures open interest has dropped sharply and now sitting at -14%,” Darkfost concludes.

“Looking at historical trends, each past deleveraging like this has provided good opportunities for the short to medium term.”

Crypto “demand crisis” emerges

Continuing, fellow CryptoQuant contributor Kriptolik eyed increasingly active derivatives markets overall since November 2024.

Stablecoin reserves across derivatives exchanges are increasing, he revealed this week, even surpassing spot markets. This, however, is no recipe for price upside.

“When we analyze the volume and circulation of stablecoins, which act as fuel in the market, we see that despite a rapid increase in total stablecoin supply since November 2024, this has not necessarily benefited the market or investors significantly,” another blog post explains.

Kriptolik described spot markets as suffering a “demand crisis.”

“Until this distribution normalizes, avoiding high-leverage (high-risk) trades may be the most prudent approach,” he added.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.