Crypto investors are showing decreased speculative appetite as they shift focus to safer digital asset investments amidst rising scams and geopolitical uncertainties. This trend is reflected in the decline of Bitcoin's hot supply metric, which has dropped from 5.9% at the end of November to just 2.3% as of March 20, indicating a shift towards more stable assets according to analysts. Additionally, the Australian government has announced a regulatory framework for crypto exchanges, promising to tackle debanking ahead of upcoming federal elections. The regulation will require exchanges to comply with existing financial services laws and safeguard customer assets. In a notable market development, Canary Capital has filed for a new ETF aimed at holding the Pudgy Penguins governance token, which, if approved, would be the first of its kind in the US. Furthermore, Coinbase has emerged as Ethereum's largest node operator, managing over 11% of the total staked Ether, underscoring its increasing influence in the crypto ecosystem.

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