1. Popular currencies on CEX
CEX top 10 trading volume and 24-hour rise and fall:
BTC: +1.46%
ETH: +0.44%
AUCTION: -38.59%
SOL: +2.09%
TRUMP: +5.72%
XRP: +1.39%
PNUT: + 18.65%
W: + 28.49%
BNB: -0.47%
PEPE: +1.12%
24H increase list (data source: OKX):
DORA: +22.18%
RUNECOIN: + 6.84%
ZETA: +6.49%
SAMO: +5.25%
CSPR: +4.48%
G: + 3.91%
MAJOR: +3.29%
RENDER: +2.42%
TIA: +2.28%
AVAX: +2.16%
2. Top 5 popular memes on the chain (data source: GMGN ):
PILL
YODA
TRUMP 8
ANTY
OTC
3. 24H hot search currencies
AUCTION: AUCTION is the governance and utility token of the Bounce Finance platform, used to participate in platform governance, pay transaction fees, and stake for rewards. In recent days, AUCTION has fluctuated greatly, falling nearly 40% in 24 hours.
ZETA: ZETA is the native token of the ZetaChain network, used to pay transaction fees, protect the proof-of-stake network, gas fees for cross-chain transactions, and participate in platform governance. Within 24 hours, ZETA briefly surged to $0.4 before falling back.
Headlines
Bounce Brand: The team did not participate in any AUCTION token price manipulation
Bounce Brand posted on the X platform that it hopes to explain the recent community concerns about AUCTION price fluctuations. It should be made clear that the team has not participated in any AUCTION token price manipulation. In the past few weeks, some unknown parties have accumulated more than 20% of the total supply of AUCTION. Its on-chain transfer activities and their impact on AUCTION prices have attracted widespread attention, causing AUCTION trading volume to soar on major exchanges (Binance spot trading volume exceeded US$200 million, and AUCTION futures became the third largest trading pair after BTC and ETH. Upbit spot trading volume exceeded US$500 million, exceeding BTC for several consecutive days).
As the main price discovery market, Binances hot wallet holdings have fallen below 10% of the total supply, the borrowing rate has exceeded 80% for many years, and the financing rate has been maintained at -2% for many periods. Major exchanges have adjusted the perpetual contract position limits and risk control measures. In order to help stabilize market liquidity, it has been actively providing liquidity support to multiple exchanges. In addition, the team has voluntarily locked about 1.5 million AUCTION from funds and team allocations.
Fidelity to launch tokenized fund investing in U.S. Treasuries, competing with BlackRock’s BUIDL
Fidelity to launch tokenized fund investing in U.S. Treasuries, competing with BlackRock’s BUIDL
Trump posted on social media: I love $TRUMP
Trump posted on social media Truth Social: I love $TRUMP, very cool, they are all great.
Binance will launch the first batch of delisting votes on March 21
Binance announced that it will launch the Vote to Delist mechanism on March 21, 2025. The community can vote to delist projects with monitoring labels. The voting period is 7 days, and the deadline is 23:59 (UTC) on March 27, 2025. Users must hold at least 0.01 BNB and log in to a verified account to participate in the voting. The voting results will be included in Binances official review, but will not be used as the basis for the final decision.
Industry News
According to a document filed with the U.S. Securities and Exchange Commission (SEC) on Friday, Fidelity has applied to register an “OnChain” share class for its tokenized U.S. dollar money market fund, Fidelity Treasury Digital Fund (FYHXX), which was launched late last year and holds cash and U.S. Treasury securities.
According to relevant document information, the OnChain category of the FYHXX fund shows that it currently uses the Ethereum network and may expand to other blockchains in the future. This registration is subject to approval by regulatory authorities and is expected to take effect on May 30.
Fidelity Solana Fund is registered in Delaware, USA
According to market news, Fidelity Solana Fund (FIDELITY SOLANA FUND) is registered in Delaware, USA.
Coinbase in advanced talks to acquire crypto exchange Deribit
Coinbase is in advanced talks to acquire derivatives crypto trading platform Deribit. Some people familiar with the matter said the two sides have informed Dubai regulators of the negotiations because Deribit holds relevant licenses in Dubai. It is not clear whether Coinbase has reached a final agreement with Deribit. Bloomberg reported in January that Deribit could be valued at between $4 billion and $5 billion. The talks may not result in a deal. The people familiar with the matter requested anonymity because the talks were confidential.
Project News
According to GoPlus Securitys official tweet, the repurchase of GPS tokens was delayed due to the need to open a Binance corporate account. At present, its parent company has completed corporate identity verification (KYB) and the repurchase process is about to start. Previously, the community questioned the progress of the process due to the failure to communicate in time. GoPlus promised to strengthen information transparency in the future and simultaneously promote the development of cross-chain assets and product functions. The relevant results will be announced in one week.
According to the official Discord of Movement Network, MoveDrop will be delayed to ensure the full integration and security audit of Cornucopia, Parthenon v2 and MoveDrop is completed.
The team said that the delay of MoveDrop is to ensure the stability and security of the ecosystem. The current focus includes Cornucopia, which will provide more than $250 million in liquidity to drive the growth of the ecosystem; Parthenon v2, whose community reward system will usher in a major upgrade to optimize the user experience; and MoveDrop, which will further optimize the reward distribution method to enhance the network effect.
Currently, the Movement Foundation is completing the mainnet bridge of Cornucopia funds, and DApp and NFT teams are waiting for liquidity to be released before launching their projects. Meanwhile, the major upgrade of Parthenon v2 still needs further integration.
Investment and Financing
Haun Ventures plans to raise $1 billion for two new crypto funds
Venture capital firm Haun Ventures plans to raise a total of $1 billion for its two new cryptocurrency funds. One of the funds will focus on early-stage project investments, while the other will target mature crypto companies. Haun Ventures was founded in 2022 by former a16z partner Katie Haun and has invested in crypto projects such as EigenLayer and Zora.
Character Voice
Russias Central Bank Governor Nabiullina: We consider cryptocurrencies to be an unstable instrument
Elvira Nabiullina, the governor of the Central Bank of Russia, said that the Russian central bank considers cryptocurrencies to be unstable financial instruments. She reiterated Russia’s concerns about the risks of crypto assets, pointing out that their high volatility makes it difficult to be widely adopted as a means of payment or storage of value.
CZ posted on the X platform that Going long mubarak on APX Finance is the first time to test on-chain perpetual contracts. Just want to experience it and see if there is still miner extractable value (MEV). You may not believe it, but I have never traded futures on Binance (centralized exchange). Although I have seen many product demonstrations.
BlackRock CEO: Bitcoin price is expected to rise to $500,000 to $700,000
BlackRock CEO Larry Fink said the price of Bitcoin is expected to rise to $500,000 to $700,000.
Hester Peirce, head of the SECs crypto task force and commissioner, said that crypto projects like Stoner Cats that raise funds through NFTs should be exempt from applicable securities regulations, and revealed that the SEC may issue a clarification statement on this soon.
Peirce said in an interview behind the scenes of the SECs first crypto roundtable that the SECs statement yesterday that proof-of-work mining is not a security has received positive feedback, and she believes that NFTs are expected to be the next asset class to receive regulatory exemptions. She said it would be very helpful if the SEC could provide a clear framework or reference mark for NFT issuers.
Previously, Stoner Cats and Flyfish Club were sued by the SEC under the leadership of former SEC Chairman Gary Gensler for NFT fundraising. Stoner Cats raised $8 million for animation production through the sale of NFTs, and Flyfish Club raised more than $14 million for private restaurant construction through the sale of NFTs. These NFTs can be traded in the secondary market and have a royalty sharing mechanism.
Peirce emphasized that even if exemptions are introduced in the future, not all NFT projects will be automatically exempt from securities regulation. If NFT is essentially a securitized token, relevant regulations will still apply.
In addition, the U.S. Congress is also pushing for legislation to legalize NFT fundraising activities with equity, membership, or artistic attributes.
Trader Eugene said in the Telegram group that the current market has entered the fifth stage in the figure (long 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 global bottom of most assets has arrived.
Eugene explained that this phase is the phase in which he participates the least, mainly because the volatility is very small whether it is rising or falling. He will only try to pick one or two targets that he thinks are more defensive than ordinary altcoins, hoping that they can perform better if he is wrong in his bearish judgment, but thats all.
The tricky thing about phase 5 is that it could last for any length of time. In my opinion, given the lack of structural damage (no companies or projects going out of business), I don’t think we’ll stay in this phase as long as the last cycle, but that’s just speculation on my part. Cryptocurrencies may still follow the stock market for a while.
