Featured Highlights:
1. Bitcoin briefly fell below $63,000, a 24-hour drop of 6.9%
2. The Bank of Japan raised interest rates for the first time in 17 years and is expected to maintain a loose monetary environment for the time being.
3. Analysis: It is expected that after the US stock market opens tonight, there will be a net outflow of approximately 2,306 BTC from the ETF custody address.
4. SLERF’s market value has surpassed BOME, becoming the seventh largest meme currency
5.Polyhedra Network token airdrop ZK is now open for claim
price watch
Bitcoin briefly fell below $63,000, down 6.9% in 24 hours
According to OKX market information, Bitcoin fell below $63,000 for a short time and is now quoted at $63,283, a 24-hour drop of 6.9%.
BNB briefly fell below $500, down 10.28% in 24 hours
According to market data, BNB fell below $500 for a short time and is now quoted at $509, a 24-hour drop of 10.28%.
Ethereum fell below $3,300, down more than 8% in 24 hours
According to OKX market data, Ethereum fell below $3,300 and is now quoted at $3,279, a 24-hour drop of more than 8%.
The U.S. blockchain sector fell sharply before the market opened, with MicroStrategy falling nearly 9%
The U.S. blockchain sector fell sharply before the market opened, with MicroStrategy (MSTR.O) falling nearly 9%, Coinbase (COIN.O) falling more than 5%, and Riot Platforms (RIOT.O) falling more than 3%. Grayscale ETF saw its largest single-day outflow, sending Bitcoin lower. (Golden Ten)
Altcoins followed the broader market in general decline, with FRONT falling more than 43% in 24 hours
According to OKX market data, altcoins followed the broader market and experienced a general decline. High market value cryptocurrencies such as FRONT fell by more than 43% in 24 hours, among which:
FRONT is currently quoted at $1.45, down 43.5% in 24 hours
BOME is currently quoted at $0.0113, down 28.9% in 24 hours
BONK is currently quoted at $0.0000208, down 22% in 24 hours
AEVO is currently quoted at $2.12, down 22.14% in 24 hours
PEPE is currently quoted at $0.00000609, down 20.9% in 24 hours
SOL briefly fell below $180, falling 8.63% in 24 hours
According to OKX market data, SOL briefly fell below $180 and is now trading at $183.4, a 24-hour drop of 8.63%.
WHALES briefly fell below $1.7, falling 21.93% in 24 hours
According to market data, the decentralized over-the-counter trading platform Whales Market token WHALES briefly fell below $1.7 and is now quoted at $1.74, a 24-hour drop of 21.93%.
transaction tracking
In the past 24 hours, the entire network liquidated 621 million U.S. dollars, with the main liquidation of long orders.
According to Coinglass data, US$621 million was liquidated across the entire network in the past 24 hours, of which US$515 million was liquidated for long orders and US$107 million was liquidated for short orders.
Data: The largest individual holder of SLERF deposited 46,742 SOL, equivalent to approximately $8.6 million, to Binance 1 hour ago
According to Lookonchain monitoring, the largest individual holder of SLERF deposited all 46,742 SOL ($8.6 million) into Binance.
From January 30 to March 4, the whale withdrew 80,285 SOL ($8.1 million) from Binance and Kraken at an average price of $101. Then yesterday spent 35,953 SOL ($7.26 million) to buy 8.2 million SLERF, becoming the largest individual holder.
A trader hoarded 7.9 million SLERFs at an average price of $0.04 and made a profit of $1.38 million.
According to monitoring by The Data Nerd, a trader hoarded 7.9 million SLERFs at an average price of $0.04, and then sold 7.7 million SLERFs at an average price of $0.22, realizing a profit of $1.38 million. Currently, there are still 213,000 SLERF held (approximately $213,000).
A trader spent 2 SOL to buy 90 million SHAD and made a profit of US$260,000.
According to Lookonchain monitoring, a trader spent 2 SOL and earned 1,408 SOL ($260,000), a gain of 704 times.
The trader spent 2 SOL to buy 90 million SHAD, and then sold 85.3 million SHAD to obtain 1,410 SOL. Currently holding 4.7 million SHAD, worth $12,000
A newly created address bought SLERF 5 hours ago and has sold the principal and made a profit of US$1.24 million.
According to Lookonchain monitoring, a newly created address withdrew 10,100 SOL from Binance 5 hours ago and spent 10,000 SOL to buy SLERF. Currently, it has sold the principal and holds a profit of $1.24 million worth of SLERF.
The address that previously swapped positions of BOME and SLERF once again bought BOME back and sold SLERF.
According to @ai_9684xtpa monitoring, the address that used BOME to swap SLERF positions 15 minutes ago has just bought back BOME and sold SLERF again.
After this change of hands, its total BOME holdings increased by 4.2 million, and it currently holds a total of 318 million BOME, with a total value of US$2.86 million.
Large BOME buyers swap positions with SLERF, BOME selling price is $0.0096
According to monitoring by @ai_9684xtpa, the large investor who spent US$2.3 million to buy BOME on March 15 sold 14 million BOME for 132,990 SLERF, and the selling price of BOME was US$0.0096.
Amber Group deposited another 1 million ARB to Coinbase five hours ago
According to @ai_9684xtpa monitoring, Amber Group once again deposited 1 million ARB to Coinbase five hours ago, worth $1.63 million.
Amber still holds 6.82 million ARB, worth $10.58 million.
BOME’s number one personal holding address has reduced its holdings again, and its assets have shrunk to US$8.38 million
According to monitoring by @ai_9684xtpa, in the past 9 hours, sundayfunday.sol, the number one personal BOME holding address, once again sold 340 million BOME. The sale earned a total of 18,660 SOL, with an average selling price of $0.0107 and a profit of $3.62 million.
The address still holds 900 million tokens, and its assets have shrunk to $8.38 million as BOME dropped 47% in the past 24 hours.
A whale that was long ETH on a revolving loan has cleared its position and is expected to make a profit of US$10.95 million.
According to Ember Monitor, the previously mentioned whale that bought 13,689 ETH through a revolving loan in February at a price of $2,600 has cleared all ETH, with an average selling price of about $3,400, and is expected to make a profit of $10.95 million.
The whale that had previously purchased 13,689 ETH through a revolving loan began to sell ETH to unleverage
According to Ember Monitor, a whale who bought 13,689 ETH through a revolving loan in February at a price of $2,600 began to sell ETH to unleverage:
The whale transferred 3,000 ETH to Binance half an hour ago and then withdrew 10.17 million USDT from Binance 13 minutes ago, selling for $3,392. Returned these USDT to Compound 10 minutes ago and continued to redeem 4300 ETH and transferred it to Binance, the sale should be ongoing now.
Project news
Meme Project LADYS: All SOL will be returned to users who participated in the pre-sale and Milady Wif Hat tokens will be distributed to qualified pre-sale participants
Meme project LADYS said on the social platform that Milady Wif Hat (LADYF) tokens will be distributed to qualified pre-sale participants and 100% of SOL will be returned to the original wallet. The return of funds will start today at 10am (UTC). Milady Wif Hat ($LADYF) Token Distribution:
· 25% of tokens allocated to eligible pre-sale participants
· 25% for fair issuance on DEX
· 25% reserved for $LADYS supporters, more details to be announced.
· 25% will be airdropped to buyers of LADYF mobile phones, details to be determined.
According to previous news, the amount raised in the pre-sale of LADYS’s Milady Wif Hat has reached the hard cap of 88,888 SOL.
Whales Market founder transferred 159,802 SOL raised for his new AI project to Binance 25 minutes ago
According to Solscan data, the founder of Whales Market deposited 159,802 SOL, equivalent to approximately $27.64 million, into Binance 25 minutes ago.
BlockBeats previously reported that the founder of over-the-counter trading platform Whales Market has raised 155,364 SOL (approximately $32 million) for his new AI project, surpassing his $30 million pre-sale hard cap for the project. "The previous announcement has been removed so that people can stop sending SOLs. Any excess amounts will be refunded within the next 12 hours," it said.
Polyhedra Network token airdrop ZK is now open for claim
According to the official website, applications for the Polyhedra Network token airdrop ZK are open.
Flow Traders may be one of the market makers of Polyhedra Network
According to monitoring by @ai_9684xtpa, Flow Traders may be one of the market makers of Polyhedra Network. 11 hours ago, the Flow Traders market-making address received 5 million ZK from the project and has deposited a total of 2.5 million tokens to Gate, Bybit, and OKX.
Restaking re-staking project Kelp DAO joins the Manta Network ecosystem and will be launched on Restaking Paradigm
According to official news, the Ethereum re-staking Restaking project Kelp DAO has joined the Manta Network ecosystem and will join the Manta Restaking Paradigm activity, allowing users to stake ETH to obtain rsETH, KEP airdrops and EigenLayer points. Stargate has supported cross-chain rsETH to Manta Pacific.
Restaking Paradigm currently supports ether.fi. Users can stake ETH to obtain eETH, ether.fi second round airdrop and EigenLayer airdrop points.
Upbit: NEAR token deposits and withdrawals will be suspended due to network upgrade
According to the official announcement, due to the Near Protocol network upgrade, Upbit will suspend NEAR deposits and withdrawals at 18:00 on March 20, Korean time. After confirming that the NEAR network upgrade is stable, Upbit will resume NEAR deposit and withdrawal services.
Arbitrum: ArbOS Atlas Phase 2 Now Live
Arbitrum stated on social platforms that ArbOS Atlas Phase 2 has been launched, further reducing the gas cost of Arbitrum One.
Bitcoin L2 project BVM will release AI platform Truly Open AI
According to CoinDesk, Bitcoin L2 project BVM said it will release Truly Open AI, an AI platform that allows users to deploy AI models on the blockchain for cryptographic applications. It is reported that the platform’s storage model is built in cooperation with Filecoin, Near, Avail, Polygon and Syscoin.
Backpack: The first phase of the preseason has ended, with a total transaction volume of $27.5 billion during the period
Backpack stated on its social platform that the first phase of the pre-season has ended. During the event from February 13 to March 18, the platform achieved a total transaction volume of 27.5 billion US dollars and completed 259 million orders. KYC added 252,000 new users, bringing the total number of users to 560,000.
The Backpack will announce plans for the second phase of the preseason next week.
Aevo launches SLERF trading
According to official news, options trading platform Aevo announced the launch of SLERF trading.
Floor Protocol founder says he has purchased SLERF
The founder of NFT fragmentation protocol Floor Protocol @FLC_FlooringLab stated on his social platform that he is optimistic about SLERF and said that this is the third meme coin he has bought in his encryption career (the other two are DOGE and PEPE).
NFT artist beeple posted "THE RISE OF SLERF" with pictures, and SLERF once again exceeded $1
According to market information, SLERF once again exceeded $1 and is now quoted at $1.0452. The currency’s 24-hour trading volume has reached $2.67 billion.
Previously, NFT artist beeple released "THE RISE OF SLERF" with pictures.
Solana’s first social project LUV completed its liquidation today and destroyed 97.2% of its tokens
According to official news, LUV officials have completed the clearance process and the problems of community members must be resolved. LUV officials stated that in order to repay the support of the community, LUV destroyed 9,719,638,406 tokens, accounting for approximately 97.2% of the total. The current actual total amount of LUV is 280,359,285.23, and officials have added new liquidity.
LuvDapp work is also progressing in an orderly manner and is expected to be online soon. LUV will continue to work hard to bring better products and services to users.
SLERF founder: A donation wallet has been set up, and LBank, as the first donor, will serve as the custodian of the donation address.
The founder of Meme project SLERF stated on social media that a donation wallet has been set up, and LBank, as the first donor, will also serve as the custodian of the donation address.
According to previous news, the founder of SLERF said that in order to return the funds of pre-sale contributors, he will find a trusted third party to set up a donation wallet. The purpose of this initiative is to raise enough funds to provide full or partial refunds to contributors during the pre-sale period.
The official TON blockchain recommendation was stolen, please do not participate in the related Meme coin pre-sale
The TON blockchain official website was stolen and Meme coin pre-sale information was released. Users are advised to pay attention to the safety of their own property and never conduct related asset operations.
CeFi Information
Grayscale CEO: Expects to lower fees for Grayscale Bitcoin Spot ETF in coming months
Grayscale CEO Michael Sonnenshein said fees for the Grayscale Bitcoin Spot ETF are expected to decrease in the coming months as the emerging crypto ETF market matures.
It is reported that Grayscale’s GBTC has experienced more than $12 billion in outflows since converting to an ETF in early January. Currently, Grayscale GBTC’s management fee is 1.5%.
Bloomberg: BitMEX is investigating the flash crash that sent Bitcoin to $8,900 on its platform this morning
Cryptocurrency trading platform BitMEX is investigating unusual trading activity that caused Bitcoin’s flash crash on its platform this morning, Bloomberg reported. At around 06:30 Beijing time on March 19, the BTC/USDT price fell to a low of $8,900 on BitMEX, while Bitcoin was trading at more than $66,000 on other exchanges.
A spokesperson for BitMEX said the company investigated the incident and found evidence of "aggressive selling behavior involving a very small number of accounts, beyond the expected scope of the market," adding that its systems are operating normally and that all users Funds are safe.
Information about the sudden sell-off was first posted by an X account named @syq, which suggested that the flash crash coincided with the sale of 977 Bitcoins worth approximately $66 million. A BitMEX spokesperson declined to comment further on the details of the incident.
Binance Contracts will delist FOOTBALLUSDT and BLUEBIRDUSDT U-margined perpetual contracts and adjust the leverage and margin levels
According to the official announcement, Binance Contract will automatically liquidate the FOOTBALLUSDT and BLUEBIRDUSDT U-margined perpetual contracts at 17:00 on March 26 (Eastern Eighth District time), and will delist the above-mentioned U-margined perpetual contract trading pairs after the liquidation is completed. .
The Binance contract will update the FOOTBALLUSDT and BLUEBIRDUSDT U-margined perpetual contract leverage and margin tiers at 18:30 on March 19 (Eastern Eighth District time).
Binance will support Polygon (MATIC) and Cosmos (ATOM) network upgrades and hard forks on March 20
According to the official announcement, Binance will support Polygon (MATIC) and Cosmos (ATOM) network upgrades and hard forks.
The Polygon (MATIC) project team will conduct a network upgrade and hard fork at block height 54,876,000 (estimated at 14:00 on March 20). Binance is expected to suspend token deposits and withdrawals on the Polygon (MATIC) network at 13:00 on March 20;
The Cosmos (ATOM) project will upgrade the network at block height 19,639,600 (estimated at 18:27 on March 20). Binance is expected to suspend token deposits and withdrawals on the Cosmos (ATOM) network at 17:30 on March 20.
Coinbase will suspend UNFI trading on April 2
According to official news, based on the results of a recent review, Coinbase decided to suspend Unifi Protocol DAO (UNFI) transactions on Coinbase.com, Coinbase Exchange and Coinbase Prime platforms at around 2 a.m. Beijing time on April 2.
Binance asks prime brokers to step up audits to exclude US investors
According to Bloomberg, after pleading guilty last year and being fined $4.3 billion for violations of U.S. anti-money laundering and sanctions laws, Binance has asked its prime brokers such as FalconX and Hidden Road to implement stricter vetting measures on customers to prevent U.S. investors. Use the world's largest cryptocurrency trading platform. Since pleading guilty in November, Binance has told these prime brokers that serve institutional traders to obtain more information from their clients, including asking for office addresses and the locations of employees and founders, and requesting responses, according to people familiar with the matter. The applicant signs a statement confirming the accuracy of the answers.
The U.S. Department of Justice criticized Binance in a November statement, saying it had targeted U.S. customers, particularly high-volume traders who could add liquidity to the exchange, while refusing to comply with U.S. laws. In an effort to rebuild its reputation and market share, Binance co-founder CZ stepped down as CEO following a plea deal last year and was replaced by Richard Teng, facing a tough U.S. regulatory perspective. While Binance's market share of global spot crypto trading volume fell from nearly 60% to about 30% last year, the platform's market share has recovered to about 40% following the record-breaking surge in Bitcoin prices over the past 12 months.
opinion data
Zhu Su analyzes the impact of Ethena strategy on Ethereum price fluctuations: deeper retracements and faster rebounds
Zhu Su, co-founder of Three Arrows Capital, said on social media that Ethena has created an interesting dynamic. Under normal circumstances, if people choose to hold spot positions and short contracts for capital rate arbitrage, when the rate returns to neutral, users May start covering the contract and go long again. However, due to the existence of Ethena, some positions have now been pledged and turned into US dollars (this should mean that some spot and futures short positions have been pledged and minted USDe through a combination). This could mean a deeper retracement and faster rebound for ETH.
Analysis: It is expected that there will be a net outflow of approximately 2,306 BTC from ETF custody addresses after the US stock market opens tonight
According to on-chain analyst Ember’s monitoring, the net outflow of ten BTC spot ETFs on March 18 was US$154.44 million, which corresponds to a net outflow of approximately 2,306 BTC from ETF custody addresses after the U.S. stock market opens tonight (March 19):
· Outflow: Grayscale (GBTC) outflowed approximately 9,596 BTC (corresponding to an outflow of US$642.52 million on March 18);
· Inflows: The remaining nine ETFs saw an inflow of approximately 7,290 BTC (corresponding to an inflow of $480.8 million on March 18). The main mover was BlackRock (IBIT), which saw inflows of 6,743 BTC ($451.48 million).
The ten BTC spot ETFs currently hold a total of BTC: 836,814 BTC ($56.03 billion).
Bloomberg: Japan’s government pension investment fund solicits information to seek diversified investments, including Bitcoin, gold and other assets
According to Bloomberg, the Japanese Government Pension Investment Fund (GPIF) announced on the 19th that it will seek information on investment diversification. Information is being sought on uninvested, less liquid assets, including Bitcoin, as well as gold, forests, farmland, and more.
Currently, GPIF diversifies its investments across traditional assets such as domestic and foreign stocks and bonds, as well as alternative assets such as infrastructure and real estate. With assets under management of approximately 225 trillion yen as of the end of December 2023, it is the world's largest pension fund.
ZachXBT: Solana’s nearly 27 pre-sales have raised a total of over 655,000 SOL, approximately US$122.5 million
According to statistics from on-chain detective ZachXBT, nearly 27 pre-sales on the Solana chain have raised a total of more than 655,000 SOL ($122.5 million).
SLERF’s market value has surpassed BOME, becoming the seventh largest meme currency
According to CoinGecko data, SLERF’s current market capitalization reaches US$645 million, surpassing BOME’s US$513 million and becoming the seventh largest meme coin.
SLERF’s 24-hour transaction volume exceeded US$2.69 billion, ranking seventh on the entire network
According to CoinGecko data, the meme currency SLERF’s 24-hour transaction volume reached 2.691 billion U.S. dollars. In addition to stablecoins, the transaction volume ranked seventh on the entire network. It was also the meme currency with the largest transaction volume in the past 24 hours, surpassing Dogecoin’s 2.076 billion. Dollar.
10x Reaearch founder: The meme coin craze may be mainly driven by the Korean market
Markus Thielen, founder of 10x Reaearch, said in an interview that given that about 80% of the rise in meme coins was concentrated during Asian trading hours, the recent surge in trading volume in the Korean crypto market, and the historical trading preferences of Korean traders, it is speculated that the current memes The currency craze may be mainly driven by the Korean market. At the same time, South Korea's upcoming presidential election has also created a relatively relaxed policy environment for this kind of speculation.
Markus Thielen also said that because the theme of meme currency speculation changes very quickly and requires a large amount of transaction volume to support its rise, it is not sure how long the meme currency craze can last.
Yesterday, Bitcoin spot ETF experienced its third net outflow since its listing, with outflow reaching a new high
According to data from farside investors, affected by the net outflow of GBTC of $643 million yesterday, the total net outflow of Bitcoin spot ETF yesterday was $154 million, which was the third net outflow since January 25 (previously, there were net outflows of $643 million on February 21). $35.7 million and $140 million as of March 1).
As a result, yesterday’s outflows also set a record since the Bitcoin spot ETF was listed.
BlackRock IBIT had a net inflow of $451 million yesterday, and the Bitcoin spot ETF had a total net outflow of $154 million
According to data from farside investors, BlackRock IBIT had a net inflow of $451 million yesterday. As a result, the Bitcoin spot ETF experienced a total net outflow of $154 million yesterday.
The Bank of Japan raises interest rates for the first time in 17 years and is expected to maintain loose monetary conditions for the time being
The Bank of Japan raised its benchmark interest rate from -0.1% to 0-0.1%, the first rate increase since 2007, officially ending the eight-year era of negative interest rates.
At the same time, the Bank of Japan said it would cancel the purchase of ETFs and real estate investment trusts (REITs); it would continue to purchase Japanese government bonds, with the scale basically remaining the same as before. It is expected that the loose monetary environment will be maintained for the time being. (Golden Ten)
The Cryptocurrency Fear and Greed Index reached 79, and market sentiment has not yet cooled down with the broader market adjustment.
According to Alternative data, today’s cryptocurrency panic and greed index is 79 (77 yesterday), and market sentiment has not yet cooled down with the broader market adjustment.
Note: The panic index threshold is 0-100, including indicators: volatility (25%) + market trading volume (25%) + social media popularity (15%) + market research (15%) + Bitcoin’s popularity in the entire market Proportion (10%) + Google hot word analysis (10%).
Financing Express
Crypto compliance platform Keyring raises $6 million in seed round, co-led by Gumi Cryptos Capital and Greenfield Capital
According to CoinDesk, encryption compliance platform Keyring completed a $6 million seed round of financing. Gumi Cryptos Capital and Greenfield Capital co-led the investment, with participation from Motier Ventures, Kima Ventures and others. The funding will be used to expand its on-chain compliance platform, which targets institutional investors and protocols.
Bitcoin DeFi development company OrangeDX completed US$1.5 million in financing, with participation from GBV Capital and others
OrangeDX, a DeFi development company on the Bitcoin chain, announced the completion of US$1.5 million in financing, with participation from GBV Capital, Odiyana Ventures, Triple Gem Capital, Nxgen, X21, Spicy Capital, Alphabit Fund, FundLand Capital, etc.
OrangeDX is positioned as a multi-faceted Bitcoin protocol platform, aiming to use the Bitcoin blockchain to expand transactions, bridging, lending and other services to further expand the BRC-20 ecosystem. It is also committed to through the Initial Liquidity Issuance (ILO) mechanism Cultivate new projects.
Singapore’s crypto trading platform Tokenize Xchange completed US$11.5 million in financing, with participation from Trive and others
Tokenize Xchange, a Singapore-based crypto trading platform, announced the completion of US$11.5 million in financing, with participation from venture capital firm Trive and others. This brings its Series A funding round to $23 million. The digital asset trading platform plans to raise a total of $33 million in funding by the end of 2024.
Tokenize plans to increase its Singapore headcount five-fold over the next 18 months, with the new funding going toward team development. The company plans to hire a large number of compliance and operations experts. (techinasia)
Blast ecological DeFi project Juice completed US$7 million in financing, Arthur Hayes and others participated in the investment
Blast ecological DeFi project Juice completed US$7 million in financing, with participation from Arthur Hayes, DWF Ventures, Delphi Digital and others. It is reported that Juice is built based on Blast by the full chain and Bitcoin DeFi infrastructure OMEGA team.
BlockBeats previously reported that in February this year, Bitcoin ecological infrastructure Omega announced the completion of $6 million in financing. This round of financing was participated by Lightspeed Faction, Bankless Ventures, Wave Digital and others.
The new funding will be used to help launch Omega’s Bitcoin Web3 infrastructure, the first decentralized solution that enables Bitcoin holders to leverage the value of their Layer 1 BTC to generate revenue without the need for bridges, wrappers or synthetic, allowing native Bitcoin to be used for DeFi.
regulatory news
SBF sentencing is scheduled for March 28
SBF’s defense team filed a sentencing memorandum last month urging District Judge Lewis Kaplan to impose a lighter sentence of no more than 6.5 years on SBF, CoinDesk reported. The defense also submitted multiple letters of recommendation from SBF's parents and brother, followers of the Effective Altruism philosophy, former FTX employees and several others.
SBF's sentencing is scheduled for March 28 at 9:30 a.m. ET (9:30 p.m. Beijing time that day).
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