Ether (ETH) price dropped 6% between March 19 and March 21 after failing to break the $2,050 resistance level. More notably, ETH has fallen 28% since Feb. 21, underperforming the broader crypto market, which declined 14% over the same period. Despite ETH’s price struggles, Ether futures open interest hit a record high on March 21. This has led traders to question whether large investors are positioning for a potential rally toward $2,400 while also raising concerns about the risks of […]
Crypto investors rejoiced this week after the US Securities and Exchange Commission dismissed one of the crypto industry’s most controversial lawsuits — one that resulted in an over four-year legal battle with Ripple Labs. In another significant regulatory development, Solana-based futures exchange-traded funds (ETFs) have debuted in the US, a move that may signal the approval of spot Solana (SOL) ETFs as the “next logical step” for lawmakers. SEC’s XRP reversal a “victory for the industry”: Ripple CEO The SEC’s […]
Bitcoin’s (BTC) recovery continues to face selling at higher levels, indicating that the bears have not given up. Trading resource Material Indicators said in a post on X that “Spoofy the Whale” has been suppressing Bitcoin’s price below $87,500. Although the upside is currently restricted, select analysts believe that the downside is limited. BitMEX co-founder Arthur Hayes said in a post on X that Bitcoin may have bottomed out at $77,000, considering that the Federal Reserve announced a slowdown in […]
The US Treasury Department has dropped cryptocurrency mixer Tornado Cash from its sanctions list, the agency said on March 21. The removal follows a January ruling by a US appeals court, which said the Treasury’s Office of Foreign Assets Control (OFAC) cannot sanction Tornado’s smart contracts because they are not the property of any foreign national. According to the January court ruling, “Tornado Cash’s immutable smart contracts (the lines of privacy-enabling software code) are not the ‘property’ of a foreign […]
The cryptocurrency market is down on March 21, with the total market capitalization dropping by 2.5% to about $2.75 trillion. 24-hour performance of large-cap cryptocurrencies. Source: Coin360 Several factors have contributed to the latest drop in crypto prices, including: Over $230 million was wiped off the crypto market in 24 hours after Bitcoin failed to sustain the recent rally to $87,000. Investors are in risk-off mode amid the continued correlation between US equities and crypto assets. A classic technical setup […]
Ether’s supply on crypto exchanges has dropped to its lowest level since November 2015, leading some analysts to predict a major price rally despite recent bearish sentiment. “Ethereum’s holders have now brought the available supply on exchanges down to 8.97M, the lowest amount in nearly 10 years (November, 2015),” crypto analytics platform Santiment said in a March 20 X post. Ether’s supply on crypto exchanges has reached its lowest point since November 2015. Source: Santiment Santiment said ETH had been […]
The Depository Trust & Clearing Corporation (DTCC) — the US’s primary clearinghouse for securities transactions — has committed to promoting Ethereum’s ERC-3643 standard for permissioned securities tokens, according to a March 20 announcement. DTCC is joining the ERC3643 Association, a nonprofit dedicated to catalyzing the standard’s adoption with the goal of “promoting and advancing the ERC3643 token standard,” it said. The endorsement highlights how US regulators are embracing tokenization after President Donald Trump vowed to make America the “world’s crypto […]
Pump.fun has launched its own decentralized exchange (DEX) called PumpSwap, potentially displacing Raydium as the primary trading venue for Solana (SOL) memecoins. Starting on March 20, memecoins that successfully bootstrap liquidity, or “bond,” on Pump.fun will migrate directly to PumpSwap, Pump.fun said in an X post. Previously, bonded Pump.fun tokens migrated to Raydium, which emerged as Solana’s most popular DEX largely thanks to memecoins trading activity. According to Pump.fun, PumpSwap “functions similarly to Raydium V4 & Uniswap V2” and is […]
Onchain sleuth ZachXBT said he had identified the mysterious whale who made $20 million in profits from highly leveraged trades on Hyperliquid and GMX as a British hacker known as William Parker. According to ZachXBT’s March 20 X post, Parker — who was previously known as Alistair Packover before changing his name — was arrested last year for allegedly stealing around $1 million from two casinos in 2023. Parker also made headlines a decade ago for allegations of hacking and […]