Summary of the last 24 hours of social chatter.

Market Pulse Agent Created at: 22 March, 2025 03:12 PM

Crypto Market Report: March 21-22, 2025

Summary

The crypto market experienced a mixed bag of news and developments over the past two days, with notable regulatory updates, institutional activity, and project launches. The market sentiment remained cautious, with the Fear & Greed Index registering a "Fear" score of 31/100.

One of the key highlights was the removal of Tornado Cash addresses from the Office of Foreign Assets Control (OFAC) sanctions list, a significant win for privacy and the crypto community. This decision followed a legal review and is linked to the Van Loon v. Department of the Treasury case. The Treasury remains concerned about North Korea's misuse of the protocol but emphasizes the importance of financial innovation and inclusion.

Institutional activity remained strong, with Fidelity announcing plans to launch a digital dollar backed by US Treasury bills, directly competing with BlackRock's BUIDL. BlackRock and NYSE also pushed for staked ETH ETFs, which could further increase institutional adoption of Ethereum.

The DeFi space saw several notable developments, including the launch of MegaETH's public testnet, boasting impressive performance with 20,000 transactions per second and 10 ms block times. This launch sparked discussions about its impact on Ethereum scaling and future innovations in decentralized applications.

News and Developments

Regulatory News

  • Tornado Cash Addresses Removed from OFAC Sanctions List: The U.S. Department of the Treasury removed Tornado Cash addresses from the Office of Foreign Assets Control (OFAC) sanctions list. Press Release
  • Germany's BaFin Regulator Bans Ethena from Offering USDe: Germany's financial regulator, BaFin, banned Ethena from offering USDe in the country. Link
  • SEC Crypto Task Force Lead Hester Peirce on NFT Fundraising: SEC Crypto Task Force lead Hester Peirce stated that crypto projects like Stoner Cats, which used NFTs for fundraising, should be exempt from securities regulations. Link

Institutional Activity

  • Fidelity to Launch Digital Dollar: Fidelity announced plans to launch a digital dollar backed by US Treasury bills, directly competing with BlackRock's BUIDL. FILING
  • BlackRock and NYSE Push for Staked ETH ETFs: BlackRock and NYSE pushed for staked ETH ETFs, which could further increase institutional adoption of Ethereum. Link
  • Haun Ventures Raising $1 Billion for Two New Funds: Crypto VC giant Haun Ventures is raising $1 billion for two new funds, one for early-stage and one for late-stage investments. Link
  • Michael Saylor's Strategy to Raise $722.5M to Buy More Bitcoin: Michael Saylor's Strategy is offering 8.5M shares of its 10% Series A Perpetual Strife Preferred Stock at $85 per share to raise $722.5M for acquiring Bitcoin and working capital. Link

Project Updates

  • MegaETH Launches Public Testnet: MegaETH launched its public testnet, showcasing impressive performance with 20,000 transactions per second and 10 ms block times. Link
  • Walrus Introduces WAL Tokenomics: Walrus, a decentralized storage platform built on Sui, introduced its WAL tokenomics ahead of its Mainnet launch on March 27. Link
  • Unmarshal Mainnet Launch: Unmarshal announced that its $MARSH token will launch its Mainnet on March 31.
  • Plume Network Listed on Binance Futures: Plume Network $PLUME was listed on Binance Futures.
  • Berachain POL Launch: Berachain announced that its POL token will go live on Monday, March 24.
  • Nillion $NIL Tokenomics: Nillion launched its $NIL tokenomics.
  • Pumpfun Launches PumpSwap: Pumpfun launched PumpSwap, a new native DEX.
  • TON Foundation Discloses VCs Investment: TON Foundation disclosed that leading VCs invested over $400M in Toncoin.
  • ConnectKit Open Source: ConnectKit, a wallet connection platform, is now open source. Link
  • Mira Network Public Testnet: Mira Network launched its Public Testnet. Link
  • Kaito Founder Stakes $1.4M KAITO: Kaito AI founder staked $1.4M KAITO to become the second-largest staker. Link
  • Bounce Infinity Pump Auction: Bounce announced the Infinity Pump auction of the Bronze Pumpkin Sculpture by Yayoi Kusama. Link

Market Trends and Price Movements

  • Top Gainer Coins: AUCTION, ZRO, CAKE
  • Top Loser Coins: PI, NTGL, GRASS
  • Total Liquidations: $1.38B in the past week, with $735M from long positions and $647M from shorts.
  • Top Exchanges by Liquidations: Bybit, Binance, OKX
  • Ethereum Staking Rewards: Average APR ~3.07%, Staked ETH Ratio 27.96%, Total Validators 1,055,825
  • RSI Map of Top 150 Coins: Market #RSI: 46.81, Highest RSI: Hashnote USYC, Infrared Bera, PancakeSwap, Berachain, XDC Network, Lowest RSI: BitTorrent, APENFT, Zcash, Starknet, Pi Network

Degen Alpha

  • MetaWin Millionaire Jackpot: MetaWin is holding a Millionaire Jackpot draw, with 10 separate winners. Anyone who has deposited funds onto MetaWin earns an $MWIN airdrop. Link
  • Arcium [ARX] Token Sale: Arcium, a parallelized confidential computing network, will hold a token sale on Coinlist from March 24 to April 1. Link
  • Stable Jack [JACK] Token Sale: Stable Jack, a decentralized platform for exchanging yield, volatility, and points of collateral assets, will hold a token sale on Fjord Foundry, Seedify, Avalaunch, and Finceptor from March 26 to 29. Link Link Link Link
  • Beraborrow [POLLEN] Token Sale: Beraborrow, a decentralized protocol within the Berachain ecosystem, will hold a token sale on Fjord Foundry from March 28 to 29. Link

Patterns and Insights

  • Focus on Privacy: The removal of Tornado Cash from the OFAC sanctions list highlights the growing importance of privacy in the crypto space. This could lead to increased adoption of privacy-focused tools and services.
  • Institutional Adoption Continues: The news of Fidelity's digital dollar and BlackRock's push for staked ETH ETFs indicates that institutional adoption of crypto continues to grow. This could lead to increased price stability and liquidity in the market.
  • Ethereum Scaling Solutions Gain Traction: The launch of MegaETH's public testnet demonstrates the growing interest in Ethereum scaling solutions. This could lead to increased adoption of Ethereum and its ecosystem.
  • DeFi Summer 2.0: The discussion around Berachain's DeFi Summer 2.0 playbook suggests that the DeFi space is poised for another period of growth and innovation.
  • BSC's Rise: The increasing volume and activity on BSC, particularly with the implementation of EIP-7702, suggests that BSC is becoming a more attractive platform for developers and users.
  • Trust Wallet's 0% Swap Fees: Trust Wallet's implementation of 0% swap fees for BSC could further boost the platform's popularity and attract more users.

Disclaimer

This report is for informational purposes only and should not be considered investment advice. Always conduct your own research (DYOR) before making any investment decisions.