Source: Talk Li Talk Outside
These days, we have once again witnessed some history.
On the morning of March 3 at 9:30 am (Eastern Time), the S&P 500 index opened with an increase of about 30 points, and the TOTAL (total cryptocurrency market capitalization) also reached the highest point of the trading session (stage). However, by 2:30 pm, the market capitalization of the S&P 500 index evaporated about $1.5 trillion, and the cryptocurrency market capitalization evaporated about $300 billion.
The market once again felt the "power" of Trump. Of course, the market today (March 5, Beijing time) is not much better, as it continues to suffer from Trump's "onslaught", including:
Trump officially announced the imposition of a 25% tariff on Canada and Mexico. Although the market hoped that the tariffs could continue to be postponed, it is clear that Trump still wants to use the tariffs as a bargaining chip, so the market's reaction is to continue to decline.
At the same time, there is a plan to stop selling weapons to Ukraine and ease sanctions on Russia.
Of course, there is also no shortage of tariff policies targeting a certain major Asian country, which will start to take effect with a tariff increase of up to 20%. This also shows that Trump is determined to continue the tariff war, and it took him two years in his previous term to raise the tariffs on a certain major country to this level, while this time it only took him more than a month.
Returning to the Altcoin market. Let's take a look at the liquidation data. In the past 24 hours alone, more than 160,000 people have been liquidated, with a total liquidation amount of $491 million, of which $270 million were long positions and $220 million were short positions. As shown in the figure below.
Let's continue to look at the capital flows. The Altcoin market has experienced capital outflows for 3 consecutive weeks, and last week even set a record for the largest weekly capital outflow (a total of $2.9 billion), as shown in the figure below.
In terms of capital outflows, Bitcoin saw an outflow of $2.59 billion last week, Ethereum $300 million, Solana $7.4 million, and Ton $22.6 million. Sui and XRP performed relatively well, with inflows of $15.5 million and $5 million respectively. In terms of capital outflow regions, the most obvious last week were the United States (capital outflow of $2.87 billion), Switzerland (capital outflow of $73 million), and Canada (capital outflow of $16.9 million), in contrast to Germany, which saw an inflow of $55.3 million (perhaps German investors believe that last week's volatility was an opportunity to buy in).
At the end of the article, let's continue to look at what other interesting things have happened in the past few days:
- Binance will delist some stablecoins such as USDT
To comply with the MiCA regulations, Binance will delist non-MiCA compliant stablecoins such as USDT, TUSD, DAI, etc. for EEA (European Economic Area) users on March 31.
We have introduced and explained the MiCA regulations in some of our previous articles, such as the article on December 27, 2024, interested partners can review the historical articles, as shown in the figure below.
- Is SEC regulation continuing to relax?
On March 4, Yuga Labs announced that after more than 3 years, the SEC has officially ended its investigation of them (the SEC sued Yuga Labs for violating securities laws in October 2022), which is a huge victory for Non-Fungible Tokens (NFTs), as they are not securities. As shown in the figure below.
In the past two weeks, the SEC has frequently abandoned lawsuits against some Altcoin projects, such as withdrawing investigations into Robinhood, Gemini, UniSwap Labs, MetaMask, and OpenSea, and reaching settlements with Coinbase and Kraken. So can we understand that the SEC is paving the way for a gradual relaxation of regulations in the Altcoin field?
However, there is an interesting point that the SEC has not given up its lawsuit against Ripple, and they are still seeking a resolution to the charges against Justin Sun, the founder of TRON. Combining the recent relationship between Justin Sun and WLFI (a project supported by the Trump family), as well as some of the things Justin Sun has done behind the scenes to get closer to Trump, this is quite intriguing.
Here are a few other news items briefly:
- The US Senate will vote this week to repeal the cryptocurrency tax provisions of the Biden era.
- The US has established a new Altcoin core group to help support Altcoin innovation in the US.
- Nasdaq has submitted a 19b-4 application to the SEC for the listing and trading of the Grayscale Hedera ETF (an ETF product targeting Altcoins).
- Aave has deployed a lending market on Sonic, and the Aave DAO has also proposed a plan to allocate $1 million per week from excess revenue to buy and distribute AAVE. This may be one of the reasons for the rise of AAVE today (March 5).
- It seems that many projects will be conducting TGEs (Token Generation Events) starting this month (March), such as Nillion, Tabi, Corn, 0G, StakeStone, Mezo, Elixir, Blackwing, Redbrick, Kelpdao, Nubit, Milkyway, Karak, Blum, Resolv, Wizzwood, MINT, GUNZ, etc. We have mentioned in our previous articles about the rush of many projects to issue tokens, but I don't know if they see new market opportunities or are just trying to milk the last bit before the opportunity is gone.
Note: The original article was 3,500 words long, and has been condensed to 1,500 words for this post. The full version of the original text has been backed up in the Talk Li Talk Outside Notion.
