Cryptocurrency Market Performance
Currently, the total cryptocurrency market value is $2.83 trillion, with BTC accounting for 60.6% at $1.72 trillion. The stablecoin market value is $230.3 billion, with a 7-day increase of 0.87%, of which USDT accounts for 62.46%.
This week, BTC's price showed range-bound fluctuations, currently at $83,936; ETH also showed range-bound fluctuations, currently at $1,967.
Among the top 200 projects on CoinMarketCap, most rose with a few declining, including: FORM with a 7-day increase of 109.18%, CAKE with a 7-day increase of 47.98%, AUCTION with a 7-day increase of 79.15%, ZRO with a 7-day increase of 78.05%.
This week, US Bitcoin spot ETF net inflow: $639.9 million; US Ethereum spot ETF net outflow: $91 million.
The "Fear & Greed Index" on March 21 was 31 (lower than last week), with market sentiment: 5 days of fear, 2 days of neutrality.
Market prediction: This week, the market showed range-bound fluctuations, with sentiment shifting from extreme fear to fear. On-chain stablecoin saw a slight increase, US Bitcoin spot ETF showed net inflow, while Ethereum ETF saw net outflow. BSC chain activity significantly increased, sparking a BSC MEME wave. The Federal Reserve maintained interest rates this week, with market fears of US economic downturn. Predicted data still holds hope for rate cuts in the second half of the year.
The market is expected to form a short-term bottom and maintain range-bound fluctuations. Attention can be focused on hot new projects on BSC, Tron, Base, and the "Hotcoin New Coin List" to unlock more wealth opportunities.
Understanding the Present
Weekly Event Review
1. On March 16, according to on-chain data, the current Monad testnet address count broke through 14.55 million, with daily active users reaching 2.0198 million on March 15;
2. On March 18, WLFI's "Macro Strategy" configured multiple digital assets in its strategic reserve plan, including BTC, ETH, TRX, LINK, SUI, and ONDO tokens. The "Macro Strategy" may partially support WLFI in funding innovative projects, promoting ecosystem growth, and creating new opportunities in the rapidly developing DeFi field;
3. On March 17, Strategy purchased 130 Bitcoin at an average price of $82,981 per coin between March 10 and March 16 (total amount: $10.7 million);
4. On March 19, according to Arkham monitoring, Justin Sun staked 60,000 ETH to Lido yesterday, approximately $116 million;
5. On March 19, Raydium is launching a token launch platform similar to pump.fun, named LaunchLab. This platform was launched less than a month after rumors that the popular Solana Meme coin launchpad pump.fun was developing its own AMM;
6. On March 20, according to Coinbase's Ethereum staking report, Coinbase currently has 3.84 million ETH participating in staking as an Ethereum staking node, accounting for 11.42% of the total staking amount, becoming the largest node operator;
7. On March 19, according to defillama data, Jupiter's February revenue reached $31.7 million, a historical high;
8. On March 21, according to data from crypto market analysis firm Santiment, due to the many DeFi and staking options in the market, Ethereum holders have reduced the available supply on trading platforms to 8.97 million, the lowest in nearly 10 years (previous low was November 2015). Compared to just 7 weeks ago, ETH on trading platforms has decreased by 16.4%;
9. On March 21, according to official sources, Japanese listed company Metaplanet announced the establishment of its strategic advisory committee and appointed Eric Trump, Donald Trump's second son, as a member of the strategic advisory committee.
Macroeconomic Outlook
1. On March 17, according to the Korean Economic TV, the Bank of Korea clearly stated that it "has never considered incorporating Bitcoin into foreign exchange reserves";
2. On March 18, US President Trump announced on Truth Social the appointment of current Federal Reserve Board member Michelle Bowman as the new Vice Chair of Supervision;
3. On March 18, the probability of "the Federal Reserve ending quantitative tightening before May" on Polymarket reached 100%, with cumulative trading volume exceeding $6.25 million;
4. On March 19, the Bank of Japan maintained its benchmark interest rate at 0.5%, in line with market expectations;
5. On March 20, the Federal Reserve maintained its benchmark interest rate at 4.25%-4.50%, in line with market expectations.
ETF
According to statistics, from March 17-21, US Bitcoin spot ETF net inflow: $639.9 million; as of March 21, GBTC (Grayscale) has outflowed a total of $22.48 billion, currently holding $16.256 billion, IBIT (BlackRock) currently holding $47.885 billion. The total market value of US Bitcoin spot ETFs is: $96.294 billion.
US Ethereum spot ETF net outflow: $91 million.
Foreseeing the Future
Event Announcements
1. Southeast Asia Blockchain Week 2025 will be held from March 30 to April 5, 2025, in Bangkok, Thailand;
2. The 2025 Hong Kong Web3 Carnival will be held from April 6-9 at Hall 5BCDE of the Hong Kong Convention and Exhibition Centre.
Project Progress
1. US Bitcoin miner CleanSpark will join the S&P SmallCap 600 Index before market opening on March 24, which includes small US-listed companies with market caps over $1 billion and meeting specific financial criteria. CleanSpark is the second crypto miner added to this list after Marathon Digital last year;
2. Berachain airdrop claim portal will reopen at 22:00 Beijing time on March 24;
3. Taproot Wizards' Bitcoin Ordinals collection will start sales on March 25, containing 2,121 Wizard Non-Fungible Tokens, inspired by the Bitcoin wizard meme from Reddit in 2013. The sale will be in two stages: first selling Wizard Non-Fungible Tokens to the whitelist at 0.2 BTC, then a public Dutch auction with a starting price above 0.2 BTC;
4. Celo will activate the hard fork transitioning to Ethereum L2 on March 26 at 11:00, reducing block time from 5 seconds to just 1 second. Celo's complete history and block height will remain unchanged, allowing users to find past transactions;
5. IRIS Network mainnet plans a 4.0 version upgrade on March 30. This upgrade will introduce cross-chain Non-Fungible Token functionality, enhance cross-chain interoperability, and optimize network performance. Validators and node operators need to prepare for a smooth network transition;
6. Investment management company VanEck will waive management fees for its Bitcoin spot ETF HODL from March 13 to March 31, 2025. If it exceeds $150 million by the deadline, the management fee for the excess will be 0.2%. After March 31, 2025, the management fee will return to 0.2%.
Important Events
1. On March 24, the Eurozone and UK will release March Manufacturing PMI preliminary values;
2. On March 27, the US will release weekly initial jobless claims;
3. On March 28, the US will release the February Core PCE Price Index year-on-year rate.
Token Unlocks
1. Axelar (ALX) will unlock 13.51 million tokens on March 27, valued at approximately $5.37 million, representing 1.13% of circulating supply;
2. Jupiter (JUP) will unlock 100 million tokens on March 27, valued at approximately $52 million, representing 1% of circulating supply.
About Us
Hotcoin Research, as the core research and investment hub of the Hotcoin ecosystem, is dedicated to providing professional in-depth analysis and forward-looking insights for global crypto asset investors. We have built a three-in-one service system of "trend judgment + value mining + real-time tracking", offering precise market interpretation and practical strategies for investors at different levels through in-depth analysis of cryptocurrency industry trends, multi-dimensional assessment of potential projects, and round-the-clock market fluctuation monitoring, combined with the bi-weekly "Hotcoin Strict Selection" strategy live broadcast and daily "Blockchain Today's Headlines" news briefing. Leveraging cutting-edge data analysis models and industry resource networks, we continuously empower novice investors to establish cognitive frameworks and help professional institutions capture alpha returns, jointly seizing value growth opportunities in the Web3 era.
Risk Warning
The cryptocurrency market is highly volatile, and investment itself carries risks. We strongly recommend that investors invest only after fully understanding these risks and within a strict risk management framework to ensure capital safety.
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