Today's news tips:
1. He Yi responded to "the project party that is about to delist the coin bought votes for others": Next time, the one that no one chooses will be delisted
2. Trader Eugene: Stronger altcoins have reached the bottom, but it is still unclear whether the bottom of most assets has arrived
3. BlackRock CEO predicts Bitcoin could rise to $500,000 to $700,000
4. Kaito.AI: The 30-day KAITO token claim period has ended, and unclaimed tokens will be used to incentivize creators and users
5. Movement Co-founder: MoveDrop will be launched in April
6. After the AUCTION project transferred 359,000 tokens to multiple CEX platforms in the early morning, the price of the token began to fall
7. “Whales/institutions that withdrew 26% of the total from Binance” transferred 1.5 million AUCTION (US$49.88 million) to Binance
8. In the past 7 days, NFT transaction volume decreased by 3.19% month-on-month to US$102 million, and the number of buyers and sellers increased by nearly 70%.
Regulatory/Macro
Pakistan Cryptocurrency Council Proposes Using Excess Energy for Bitcoin Mining
Bilal Bin Saqib, CEO of the Pakistan Cryptocurrency Council, has proposed using the country’s excess energy to power Bitcoin. Mining was discussed at the first meeting of the Cryptocurrency Council on March 21. The establishment of the Cryptocurrency Council is a sharp departure from the Pakistani government’s previous stance on cryptocurrencies. In May 2023, former Minister of State for Finance and Taxation Aisha Ghaus Pasha said that cryptocurrencies would never be legal in the country.
Earlier news , Pakistan plans to create a legal framework for cryptocurrency transactions to attract international investment.
Japanese listed real estate company Open House Group announced that it will accept XRP, SOL and DOGE payments, supporting international customers to use related cryptocurrencies to purchase local properties. The company has previously announced support for BTC and ETH payments and sponsored Japan's largest lightning network community "Diamond Hands" for joint research projects in 2022.
The U.S. Department of Justice (DOJ) announced on March 21 that $7 million in proceeds from a cryptocurrency investment fraud scheme had been recovered, and is now inviting victims to submit petitions to repatriate their funds. “These fraudulent websites mimicked legitimate cryptocurrency investment platforms, but sent victims’ funds to the perpetrators through more than 75 bank accounts opened in the names of shell companies,” authorities said. Victims were misled into believing that the value of their investments was increasing, but in reality, the proceeds were fabricated.
After laundering the money through a complex series of domestic and international transactions, the perpetrators ultimately moved the funds overseas. In June 2023, the U.S. Secret Service seized funds from a foreign bank account, prompting the Department of Justice to file a civil forfeiture lawsuit. After the foreign bank filed a claim, the two parties reached a settlement that resulted in $7 million being forfeited to the United States.
Caitlin Long, founder and CEO of Custodia Bank, said that it is too early to say that de-banking is over. The Federal Reserve is currently reviewing two cryptocurrency-friendly banks and has sent a large number of examiners to these banks, including examiners from Washington. This army is simply stifling these banks from providing services to crypto companies.
Caitlin Long added: “Trump doesn’t have the ability to appoint new Fed governors until January, so you can see signs of a potential big fight. If the OCC and FDIC reverse their anti-crypto guidelines and the Fed doesn’t, what’s the crypto industry going to do?”
Viewpoint
Greeks.live macro researcher Adam published a Chinese community briefing, which pointed out that the community is cautious about Bitcoin volatility and discussed whether it will hit a new low. Members are mainly concerned about rationally building hedging structures and choosing cost-effective option strategies, rather than simply predicting the direction of market ups and downs. In terms of option trading strategies, the community believes that it is important to choose option strategies that can sell both good prices and good IVs. Most traders prefer to reduce costs and focus on cash flow direction, and take delivery at a discount through covered/uncovered strategies, rather than focusing on volatility trading.
He Yi, co-founder of Binance, responded on the X platform with a message: "Voting for listing: the project parties that cannot list the coins buy votes for themselves, voting for delisting: the project parties that are about to be delisted buy votes for others." She said: "Next time, the ones that are not voted for will be delisted."
Trader Eugene said in his personal channel that the current market has entered the fifth stage in the figure (bullish losses, coin price consolidation, shrinking trading volume and volatility). At this stage, some stronger altcoins have reached the bottom, but it is still uncertain whether the bottom of most assets has arrived. This stage is the stage in which Eugene himself participates the least, mainly because the volatility is very small whether it goes up or down. I will only try to pick one or two targets that I think are more defensive than ordinary altcoins, hoping that they can perform better if I make a mistake in my bearish judgment, but that's all.
The tricky thing about phase 5 is that it has an uncertain duration. Personally, I don’t think it will stay in this phase as long as the previous cycle, given the lack of structural damage (no companies or projects going out of business), but this is just speculation. The crypto market may still follow the stock market for a while.
BlackRock CEO predicts Bitcoin could rise to $500,000 to $700,000
According to Cointelegraph, BlackRock CEO Larry Fink predicted that Bitcoin could rise to $500,000 to $700,000.
Project News
Kaito.AI posted on the X platform that the 30-day KAITO token claim period has ended, and is currently sorting out claims related to suspended accounts. If you are unable to claim due to a suspended account, you need to go to the official Discord to fill out a form. Unclaimed KAITO tokens will remain in the community and will be fully converted into future creator and user incentives. In the next few days, Kaito.AI will also set up a vote to decide whether AI Agents/chatbots should receive the same economic incentives as human content creators.
RWA project ZOTH released a stolen update on the X platform, disclosing that the team is actively investigating the theft. On-chain activities indicate that this is a well-planned attack. Currently, they are working with professional experts to track the stolen funds and recover them. 73% of the TVL (total locked value) on the platform has been immediately secured with the help of the asset issuer. A detailed report on the attack is planned to be shared in the next few weeks. In addition, ZOTH also announced that a public bounty of $500,000 has been set up, and any actionable clues that help recover the funds will be rewarded from the bounty.
According to previous news , after ZOTH was attacked, the hacker exchanged 8.8 million USDO++ for 8.3 million DAI, and then exchanged DAI for 4,223 ETH through CoW Swap, which was deposited into the address 0x7b0c…60cf. The current balance of this address is about 4.2K ETH.
Movement Co-creation: movedrop will be launched in April
Rushi, co-founder of Movement, tweeted that movedrop is confirmed to be launched in April, and the following issues need to be resolved first:
- Ensure TVL is bridged with cornocopia, and hope that users can use MOVE to use dapps and assets on the chain
- Like the testnet, we hope to gamify the chain and make it fun. We are pushing parthenon as soon as possible
- No additional standards required
- Sybil activity, Sybils in the distribution are being actively monitored
- Incentives
The dYdX Foundation announced on the X platform that it has completed the DYDX staking delegation rebalancing, aiming to support the security and resilience of the dYdX Chain and promote a more even distribution of active validators’ staking weights.
According to disclosed data, as of March 21, the dYdX Foundation had a total of approximately 6.2 million DYDX tokens available for Foundation Delegation.
UniSat releases new extended wallet to support phishing website detection
UniSat announced on the X platform that it has launched its extended wallet v1.5.8. The new version of the wallet will support phishing website detection, and will immediately receive an alert when visiting a reported or blacklisted website. In addition, it also fixes the problem of not being able to prompt the UniSat signature due to conflicts with other extensions.
IOTA releases IOTA Identity Alpha, a decentralized identity framework
IOTA has released the decentralized identity framework IOTA Identity Alpha version, which aims to provide a framework for identity authentication, verification and secure data exchange. The new version is now available on the MoveVM-based test network, and the migration from the previous Stardust VM to MoveVM can enhance on-chain programmability while improving privacy through off-chain verifiable credentials.
Important data
Data: This week, the US Bitcoin ETF bought 8,775 BTC, while miners produced only 3,150 BTC
Bitcoin Magazine disclosed data on the X platform, showing that this week, US Bitcoin exchange-traded funds bought a total of 8,775 BTC, while Bitcoin miners produced only 3,150 BTC.
CryptoSlam data shows that NFT trading volume fell to $102 million this week, down 3.19% from the previous week. The number of NFT buyers increased by 71% to 350,063, the number of NFT sellers increased by 68.57% to 225,465, and the number of NFT transactions increased by 16.90% to 1,696,996.
Ethereum network NFT transactions fell 13.03% to $27.7 million, but the number of buyers increased by 42.17% to 44,850. Bitcoin network transactions fell 30.69% to $16.3 million, and the number of buyers increased by 63.67% to 31,251. Mythos Chain network rose slightly by 3.12% to $15.6 million, ranking third.
Notable deals this week include:
- CryptoPunks #6634: $431,243 (222.5 ETH)
- Azuki #641: $209,021 (110 WETH)
- Autoglyphs #166: $198,308 (103 ETH)
- Autoglyphs #275: $189,198 (100 WETH)
- Autoglyphs #402: $188,475 (99.9 ETH)
A new wallet withdrew 95,011 SOL from Coinbase 12 hours ago and used it for staking
According to Onchain Lens monitoring, 12 hours ago, a newly created wallet withdrew 95,011 SOL ($12.36 million) from Coinbase and sent it for staking.
According to the monitoring of on-chain analyst Yu Jin, a multi-signature address of the AUCTION project began to transfer 359,000 AUCTION (20.48 million US dollars) to exchanges such as Binance, OKX, and Gate from 03:13. The project address began to transfer at 03:13, and the price of AUCTION began to fall at 03:15.
AUCTION fell more than 50% in 24 hours, with a liquidation of $16.6522 million
According to OKX market data, AUCTION fell more than 50% in 24 hours and is now trading at $27.1. Coinglass data shows that AUCTION's liquidation in the past 24 hours was $16.6522 million.
According to previous news, after the AUCTION project team transferred 359,000 tokens to multiple CEX platforms in the early morning, the price of the currency began to fall . In addition, "whales/institutions that withdrew 26% of the total amount from Binance" transferred AUCTION to Binance several times today.
According to on-chain analyst Yu Jin’s monitoring, “the whale/institution that withdrew 26% of the total amount from Binance” also transferred the last 200,000 AUCTION (US$4.9 million) to Binance 20 minutes ago. The 2 million AUCTION hoarded by the whale/institution some time ago has all been transferred to Binance.
- From 4 am today to now, "whales/institutions that withdrew 26% of the total from Binance" transferred 1.5 million AUCTION (US$49.88 million) to Binance.
- The project address transferred 359,000 AUCTION (US$20.48 million) to Binance, OKX, and Gate at 3 a.m.
In just 10 hours, 1.859 million AUCTION (US$70.36 million) flowed into CEX, which is 24.3% of the total AUCTION. The price of AUCTION also fell from US$57 at 3 am to US$23 now, a drop of 60%.
