1. CEX Hot Coins
CEX Trading Volume Top 10 and 24-Hour Price Change:
BNB: -8.42%
BTC: -5.39%
ETH: -12.25%
SOL: -10.24%
DOGE: -15.29%
XRP: -11.66%
RARE: 52.1%
MOVE: 2.91%
ADA: -10.16%
24H Price Increase Ranking (Data Source: OKX):
DORA: 5.1%
OM: 3.07%
UMA: 2.73%
IP: 2.23%
HMSTR: 1.1%
VRA: 1.17%
LOOKS: 0.75%
LEO: 0.53%
ACT: 0.26%
ZKJ: 0.01%
2. Top 5 On-Chain Meme Coins (Data Source: GMGN):
BTRUMP
ROGER
YODA
PIPE
WTFO
3. 24H Trending Coins
GRK: GRK experienced a brief surge in the community due to a response from Grok, but it has not received official endorsement from Elon Musk or Grok AI.
Headlines
UK Treasury: "No Plans" to Introduce U.S.-Style Bitcoin Reserves
According to market news, the UK Treasury stated that there are "no plans" to introduce U.S.-style Bitcoin reserves.
According to Eleanor Terrett's post on X platform, U.S. Senator Bill Hagerty's updated stablecoin bill—GENIUS ACT has been officially released.
The latest text expands on the section regarding "mutual recognition of payment stablecoins issued in overseas jurisdictions" compared to the February version, adding reserve requirements, regulatory measures, anti-money laundering and anti-terrorism measures, sanctions compliance standards, liquidity requirements, and risk management standards to facilitate international transactions and enhance interoperability with U.S. dollar payment stablecoins issued overseas.
This bill could have a profound impact on the global stablecoin market and cross-border payment systems, with more details pending further interpretation.
Sources reveal that Trump plans to sign an executive order as early as this week to overturn the Biden administration's restrictions on banking services for crypto companies, particularly "Operation Chokepoint 2.0." Sources indicate that the order may involve the Federal Reserve's "master account" policy, easing access for crypto banks. However, as an independent agency, the Federal Reserve's policies are typically not directly influenced by the White House. Additionally, the executive order may cover stablecoin regulation, clarifying that stablecoins should not be considered securities. Senior White House officials plan to meet on Thursday to assess potential legal obstacles to the executive order before submitting it for President Trump's signature.
Industry News
Coinbase Plans to Launch 24/7 Bitcoin and Ethereum Futures Contracts in the U.S.
According to official news, Coinbase announced that its CFTC-regulated futures exchange, Coinbase Derivatives, LLC, will launch the first 24/7 Bitcoin and Ethereum futures contracts, allowing U.S. traders to manage risks and seize opportunities without interruption. Additionally, Coinbase is developing a perpetual futures contract aimed at unlocking a key product that U.S. traders have been lacking.
Kraken Obtains EMI License from the UK's Financial Conduct Authority
According to official news, cryptocurrency exchange Kraken announced that it has officially obtained an Electronic Money Institution (EMI) license from the UK's Financial Conduct Authority (FCA), allowing it to issue electronic money and accelerate deposit and withdrawal speeds for customers, thereby enhancing its market position in the UK.
Thailand's Regulatory Authority Recognizes Tether's USDT as a Compliant Cryptocurrency
According to official news, Thailand's Securities and Exchange Commission has recognized Tether's USDT as a compliant cryptocurrency, marking a key moment in the region's digital asset development and an important step in clarifying and strengthening Thailand's regulatory framework, providing investors with greater flexibility and choices while promoting a more vibrant and resilient industry. This decision supports the diversification and modernization of Thailand's financial landscape through the seamless integration of USDT.
Project News
MyShell released an "Official Statement Regarding Binance Announcement and $SHELL Buyback Plan":
"On March 7, we received a notification from the Binance team regarding unusual activities involving one of our market makers. In response, we immediately terminated our relationship with that market maker and introduced several new partners to ensure stable liquidity. All Binance accounts related to that market maker have been suspended, and all remaining assets will be transferred to our new market makers. Additionally, all stablecoins sold by that market maker will be fully used for the buyback of $SHELL within 90 days. To ensure complete transparency, we will publish the wallet addresses related to the buyback for community verification. Furthermore, we are working closely with Binance to make this process open and transparent."
According to official news, Avalon Labs announced that it has successfully secured a minimum credit line of $2 billion, provided by a well-known Asian consortium, marking an important milestone in institutional lending within the crypto industry. This historic breakthrough not only represents a significant milestone in the institutionalization of DeFi but also highlights Bitcoin's strategic position in the global financial system. Avalon Labs will leverage this credit support to provide institutional-grade USDT liquidity while creating a more robust and efficient Bitcoin over-collateralized lending system with an 8% fixed lending rate and a yield mechanism based on USDa stablecoin. As a leading Bitcoin stablecoin issuer and lending platform, Avalon Labs is driving the deep integration of DeFi and traditional finance, leading global institutions into a Bitcoin-driven new era.
Regulatory Trends
According to the updated regulations "Virtual Asset Service Providers (Amendment) Ordinance," which will take effect on April 1, 2025, the Cayman Islands will require cryptocurrency custody and trading companies to obtain licenses to operate. Companies already operating in the country must submit applications by June 29, 2025, detailing asset security measures and operational details. It is reported that major cryptocurrency companies such as Coinbase, Binance, and Bitwise have already obtained licenses in the Cayman Islands, while some companies like Sui Foundation have established headquarters there.
Lawyers from Gibson Dunn stated that the SEC's recent memecoin guidance may indicate a shift in its cryptocurrency regulatory policy, potentially affecting the applicability of the Howey test. The SEC previously stated that memecoins should generally not be considered securities, as the funds of their purchasers are not concentrated on developing related projects, and their prices depend on market speculation and collective sentiment. This stance contradicts the SEC's previous position in lawsuits against cryptocurrency exchanges and may impact the trading of digital assets in all secondary markets. Analysts believe this move indicates that the SEC is gradually moving away from the stringent regulatory approach of former Chair Gary Gensler, bringing a clearer direction for U.S. cryptocurrency policy.
Voices
Arthur Hayes: Bitcoin May Bottom at $70,000, Wait for Central Bank Easing to Increase Holdings
Arthur Hayes posted on the X platform, stating the need to remain extremely patient and predicting that Bitcoin may bottom out at around $70,000, which means a 36% drop from the historical high of $110,000, a common adjustment in a bull market. He believes that the stock market, particularly SPX and NDX, will enter a phase of free fall. Then, he expects the Federal Reserve, European Central Bank, and Bank of Japan to adopt easing policies to stimulate economic recovery in their respective countries.
He suggests that in this scenario, one should "enter the market heavily." For traders, although they may miss the bottom, they can avoid experiencing prolonged fluctuations and potential unrealized losses. If one is more cautious, they can wait until the easing policies of major central banks are implemented before increasing capital investment.
Due to a new round of sell-offs on Wall Street impacting the stock market, Bitcoin has fallen below the key support level of $80,000 and is approaching a low of $78,000, as investors begin to shift risk assets to safe assets. Analysis firm Kobeissi stated that the U.S. government's efficiency department (DOGE) cutting government spending is one of the reasons for the economic recession. They believe that U.S. government spending and job growth have been 'driving' economic development, but the cost-cutting measures of DOGE will have far-reaching effects. It remains unclear where BTC's price trend may form a more reliable bottom.
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