- CEX Hot Coins
CEX Trading Volume Top 10 and 24-Hour Price Change:
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 Price Increase Ranking (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%
- Top 5 On-Chain Meme Coins (Data Source: GMGN):
PILL
YODA
TRUMP8
ANTY
OTC
- 24H Hot Search Coins
AUCTION: AUCTION is the governance and utility token of the Bounce Finance platform, used for participating in platform governance, paying transaction fees, and staking for rewards. In recent days, AUCTION has experienced significant volatility, with a nearly 40% drop within 24 hours.
ZETA: ZETA is the native token of the ZetaChain network, used for paying transaction fees, securing proof-of-stake networks, cross-chain transaction gas fees, and participating in platform governance. Within 24 hours, ZETA briefly surged to $0.4 before retreating.
Headlines
Bounce Brand: The Team Did Not Participate in Any AUCTION Token Price Manipulation
Bounce Brand stated on the X platform that it hopes to clarify recent community concerns about AUCTION price fluctuations. It is important to note that the team did not participate in any AUCTION token price manipulation. In recent weeks, some unknown parties have accumulated over 20% of the total AUCTION supply, and their on-chain transfer activities and their impact on AUCTION prices have attracted widespread attention, leading to a surge in AUCTION trading volume across major exchanges (Binance's spot trading volume exceeded $200 million, making AUCTION futures the third-largest trading pair after BTC and ETH. Upbit's spot trading volume exceeded $500 million, surpassing BTC for several consecutive days).
As the main price discovery market, Binance's hot wallet holdings have fallen below 10% of the total supply, with borrowing rates consistently exceeding 80%, and financing rates remaining at -2% for multiple periods. Major exchanges have adjusted their perpetual contract position limits and risk control measures. To help stabilize market liquidity, they have been actively providing liquidity support to multiple exchanges. Additionally, the team has voluntarily locked approximately 1.5 million AUCTION from funds and team allocations.
Fidelity to Launch Tokenized Fund Investing in U.S. Treasury Bills, Competing with BlackRock's BUIDL
Fidelity will launch a tokenized fund investing in U.S. Treasury bills, competing with BlackRock's BUIDL.
Trump Posts on Social Media: I Love $TRUMP
Trump posted on the social media platform Truth Social: I love $TRUMP, very cool, they are all great.
Binance to Launch First Delisting Vote on March 21
Binance announced that it will launch a "vote to delist" mechanism starting March 21, 2025, allowing the community to vote on projects with monitoring labels for delisting. The voting period is 7 days, ending on March 27, 2025, at 23:59 (UTC). Users must hold at least 0.01 BNB and log in to a verified account to participate in the vote. The voting results will be included in Binance's official review but will not serve as the final decision basis.
Industry News
According to a document submitted to the U.S. Securities and Exchange Commission (SEC) this Friday, Fidelity has applied to register an "OnChain" stock class for its tokenized U.S. dollar money market fund, Fidelity Treasury Digital Fund (FYHXX), which was launched at the end of last year and holds cash and U.S. Treasury securities.
According to the relevant document, the "OnChain" class of the FYHXX fund currently uses the Ethereum network and may expand to other blockchains in the future. This registration is subject to regulatory approval and is expected to take effect on May 30.
Fidelity Solana Fund Registered in Delaware, USA
According to market news, the Fidelity Solana Fund (FIDELITY SOLANA FUND) has been registered in Delaware, USA.
Coinbase in Deep Negotiations to Acquire Crypto Trading Platform Deribit
Coinbase is in deep negotiations to acquire the derivatives crypto trading platform Deribit. Some insiders have indicated that both parties have informed Dubai regulators about the negotiations, as Deribit holds relevant licenses in Dubai. It is unclear whether Coinbase has reached a final agreement with Deribit. Bloomberg reported in January that Deribit's valuation could be between $4 billion and $5 billion. This negotiation may not result in an agreement. Insiders requested anonymity as the discussions are confidential.
Project News
GoPlus Officially Announces Completion of KYB Verification, Buyback Plan to Launch Soon
According to a tweet from GoPlus Security, the buyback of GPS tokens has been delayed due to the need to open a Binance corporate account. The parent company has now completed corporate identity verification (KYB), and the buyback process will soon commence. Previously, the community raised concerns due to a lack of timely communication regarding process progress. GoPlus has promised to enhance information transparency in the future and to simultaneously advance cross-chain asset and product function development, with relevant results to be announced within a week.
Movement Network Announces Delay of MoveDrop, Optimizing Ecosystem Integration and Security Audit
According to a message from Movement Network's official Discord, MoveDrop will be delayed to ensure the comprehensive integration and security audit of Cornucopia, Parthenon v2, and MoveDrop.
The team stated that the delay of MoveDrop is to ensure the stability and security of the ecosystem. Current priorities include Cornucopia, which will provide over $250 million in liquidity to drive ecosystem growth; Parthenon v2, which will see a significant upgrade to its community reward system to optimize user experience; and MoveDrop, which will further optimize the reward distribution mechanism to enhance network effects. Currently, the Movement Foundation is completing the mainnet bridge for Cornucopia funds, and the DApp and NFT teams are waiting to launch projects after liquidity is released, while the significant upgrade of Parthenon v2 still requires 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 two new cryptocurrency funds. One fund will focus on early-stage project investments, while the other will target mature crypto enterprises. Haun Ventures was founded in 2022 by former a16z partner Katie Haun and has invested in crypto projects such as EigenLayer and Zora.
Voices
Russian Central Bank Governor Nabiullina: We Consider Cryptocurrency an Unstable Tool
Elvira Nabiullina, the governor of the Russian Central Bank, stated that the Russian Central Bank considers cryptocurrency an unstable financial tool. She reiterated Russia's concerns about the risks of crypto assets, pointing out their high volatility, making them difficult to be widely adopted as a means of payment or store of value.
CZ posted on the X platform, stating, "Testing long positions on Mubarak in APX Finance is the first time conducting on-chain perpetual contract testing. Just wanted to experience it and see if there is still miner extractable value (MEV). You might find it hard to believe, but I have never traded futures on Binance (centralized exchange). Although I have seen many product demonstrations."
BlackRock CEO: Bitcoin Price Expected to Rise to $500,000 to $700,000
BlackRock CEO Larry Fink stated that the price of Bitcoin is expected to rise to between $500,000 and $700,000.
Hester Peirce, head of the SEC's crypto special working group and commissioner, stated that crypto projects fundraising through NFTs, such as Stoner Cats, should be exempt from applicable securities regulations, and revealed that the SEC may soon issue a clarification statement on this matter.
In an interview backstage at the SEC's first crypto roundtable, Peirce mentioned that the SEC's statement yesterday declaring "proof-of-work mining is not a security" received positive feedback. She believes NFTs are likely to become the next asset class to receive regulatory exemption. She stated that it would be very helpful if the SEC could provide a clear framework or reference points for NFT issuers.
Previously, Stoner Cats and Flyfish Club were sued by the SEC under former chairman Gary Gensler for their NFT fundraising activities. Stoner Cats raised $8 million for animation production by selling NFTs, while Flyfish Club raised over $14 million for the construction of a private restaurant through NFT sales. These NFTs can be traded on the secondary market and have a royalty-sharing mechanism.
Peirce emphasized that even if exemptions are granted in the future, not all NFT projects will automatically be exempt from securities regulation. If NFTs are essentially securitized tokens, they will still be subject to relevant regulations.
Additionally, the U.S. Congress is also pushing legislation to legalize fundraising activities involving NFTs that have equity, membership, or artistic attributes.
Trader Eugene: The Bottom for Strong Altcoins May Have Appeared, but Now Is Not the Time to Enter
Trader Eugene stated in a Telegram group that the current market has entered the fifth phase shown in the chart (bull losses, price consolidation, shrinking volume, and volatility). In this phase, some stronger altcoins have reached their bottoms, but it is still uncertain whether the global bottom for most assets has arrived.
Eugene explained that this phase is when he participates the least, mainly because volatility is very low whether prices rise or fall. He will only attempt to pick one or two assets that he believes are more defensive than ordinary altcoins, hoping that they can perform better if he is wrong in his bearish judgment, but that’s about it.
The tricky part of the fifth phase is that it can last for any length of time. In my view, considering the lack of structural damage (no companies or projects going bankrupt), I don't think we will stay in this phase as long as we did in the last cycle, but that is just my guess. Cryptocurrencies may continue to follow the stock market trends for a while.
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