Summary
gm, Bitcoin experienced a notable drop to around $82,930, representing a 1.13% decline. This downturn coincides with broader market sell-offs influenced by rising inflation concerns and disappointing economic data. The crypto market saw substantial liquidations, with over $450 million wiped out, primarily affecting long positions. Meanwhile, regulatory developments continue to shape the landscape, as the FDIC announced a policy shift allowing banks to engage in crypto activities without prior approval. Additionally, stablecoins remain a focal point, with predictions suggesting the global stablecoin supply could reach $1 trillion by the end of 2025, potentially driving the next crypto rally.

News Headlines
🔒 COTI Launches V2 Mainnet: A New Era of Privacy-Focused L2 Solutions

  • COTI transitions from its original DAG-based protocol L1 to an EVM-compatible, privacy-focused L2 chain after two years of development.
  • The upgrade implements garbled circuits for computation over encrypted data, offering a more efficient solution than zero-knowledge proofs.

💸 Terraform Labs to Open Loss Claims Portal on March 31

  • Terraform Labs will launch a crypto loss claims portal for individuals who lost at least $100 during the Terra ecosystem collapse in May 2022.
  • The company estimates it could reimburse between $184.5 million and $442.2 million to eligible claimants.

🎮 'Off the Grid' Maker Gunzilla Revives Game Informer Magazine

  • Gunzilla Games, creator of the crypto battle royale 'Off the Grid', has acquired the long-running gaming magazine Game Informer.
  • The acquisition is part of Gunzilla's strategy to align with the gaming community and enhance the experience for its players.

💳 Baanx Partners With Circle for Crypto Rewards Wallet

  • Baanx, a cryptocurrency card provider, announces a partnership with Circle to develop a rewards wallet for users.
  • The collaboration will integrate Circle's USDC stablecoin, allowing Baanx users to earn rewards in cryptocurrency.

📈 Bitcoin Miner MARA Starts Massive $2B At-the-Market Stock Sale Plan to Buy More BTC

  • MARA, a Bitcoin mining company, initiates a significant $2 billion at-the-market stock sale to increase its Bitcoin holdings.
  • This strategic move aims to leverage current market dynamics and expand MARA's BTC inventory.

Market Metrics

Fundraising & VC
No fundraising data today.

On-chain Data
1. Portal (PORTAL) token unlock in 1 day ($2.63M, 18.13%)
2. Echelon Prime (PRIME) token unlock in 1 day ($2.58M, 1.34%)
3. Biconomy (BICO) token unlock in 1 day ($877.08K, 0.8%)
4. Celo (CELO) token unlock in 1 day ($696.76K, 0.36%)
5. ZetaChain (ZETA) token unlock in 2 days ($13.09M, 6.05%)

Regulatory
🚫 New Jersey Halts Sports Betting on Prediction Markets

  • New Jersey ordered Kalshi and Robinhood to cease offering prediction markets related to sports events.
  • The platforms were accused of illegally providing sports wagering services.

💰 Brazil Considers Strategic Bitcoin Reserve

  • A high-ranking official in Brazil's administration emphasized the importance of establishing a strategic Bitcoin reserve.
  • A legislative proposal aims to allow the government to allocate up to 5% of international reserves into Bitcoin.

🏦 EU Bitcoin Adoption Hindered by Fragmented Regulations

  • Bitcoin adoption in the EU remains slow due to fragmented regulations and lower liquidity compared to the US.
  • Corporate interest in Bitcoin across Europe is tepid due to unclear regulations regarding its status as a reserve asset.

⚖️ Kalshi Sues Nevada and New Jersey Regulators

  • Kalshi has sued gaming regulators in Nevada and New Jersey over cease and desist orders.
  • The company argues its event contracts are regulated by the CFTC, not state authorities.

Technical Analysis
Bitcoin - Bitcoin has broken the floor of the rising trend channel in the short term, which indicates a weaker initial rising rate. The currency has broken down through support at points 84000. This predicts a further decline. In case of positive reactions, there will now be resistance at points 84000. The currency is assessed as technically negative for the short term.

Ethereum - Ethereum shows weak development in a falling trend channel in the short term. This signals increasing pessimism among investors and indicates further decline for Ethereum. The currency has broken down through support at points 1870. This predicts a further decline. In case of positive reactions, there will now be resistance at points 1870. Negative volume balance weakens the currency in the short term. The currency is overall assessed as technically negative for the short term.

Governance & Code
⚔️ Spartan Council | Update Perps v3 Parameters (SCCP 402) (Active Vote)
- This proposal aims to reduce the Max Market Value and Max Market Size parameter for the several markets.

☁️ Sky DAO | Morpho Spark DAI Vault – Adjust Pool Supply Caps
- This proposal recommends removing pool supply caps for recently expired Principal Tokens (PTs) within the Morpho Spark DAI Vault.