Home Blog Page 849

Bitcoin Leads as Crypto Funds End 5-Week Outflow Streak With $644M Inflows

Okoya David
-
0
Bitcoin Leads as Crypto Funds End 5-Week Outflow Streak With $644M Inflows

Global crypto funds are again seeing net positive inflows after a record drought, with Bitcoin leading the pack.

On Monday, March 25, CoinShares Head of Research James Butterfill reported that last week, these funds broke their five-week outflow streak—the longest on record, which had led to an exodus of $6.4 billion. Specifically, inflows for last week totaled $644 million, signaling “renewed optimism.”

The result is even more impressive considering that these funds recorded net inflows every single day of the week, according to Butterfill. Before this, global crypto funds had seen net outflows for 17 consecutive days.

Bitcoin Led the Influx

Looking at the fund flows by asset, as usual, Bitcoin funds led the pack with net inflows totaling $724 million, even as short Bitcoin funds saw a third consecutive week of outflows with $7.1 million.

Meanwhile, the figures for altcoin investment funds were mixed. Funds based on Ethereum, Sui, Polkadot, Tron, and Algorand saw outflows of $86 million, $1.3 million, $1.3 million, $950,000, and $820,000, respectively.

Conversely, funds based on Solana, Polygon, and Chainlink recorded inflows of $6.4 million, $400,000, and $200,000, respectively.

Bitcoin leading crypto inflows
Bitcoin leading crypto inflows

Inflows Per Region

On a regional level, the majority of inflows came from the U.S., with $632 million. On the other hand, Switzerland, Germany, and Hong Kong-based funds recorded inflows of $15.9 million, $13.9 million, and $1.2 million, respectively.

Last week’s fund inflows follow signs of cooling inflation, as February 2025 inflation numbers came in less than expected. At the same time, Federal Reserve Chair Jerome Powell downplayed concerns that President Donald Trump’s tariffs could send inflation soaring again, asserting that inflation will be “transitory” in his speech following last week’s Federal Open Market Committee meeting (FOMC).

Meanwhile, the trend of crypto fund inflows is likely to continue as expectations that Trump will narrow the scope of tariffs slated to take effect on April 2 drive optimism in risk markets.

Sam Altman’s World Network Eyes Visa Partnership for Crypto-Powered Payments

Sam Wisdom Raphael
-
0
Sam Altman’s World Network Eyes Visa Partnership for Crypto-Powered Payments

Sam Altman’s World Network is reportedly engaging in discussions with Visa to integrate stablecoin-based payment capabilities into its digital wallet. 

If finalized, the initiative could turn the World Wallet into a multifunctional financial tool, giving users access to a range of banking features without relying on traditional institutions.

World Network, a blockchain ecosystem designed to bolster the biometric identity platform Worldcoin, is exploring ways to incorporate Visa card functionality into its system, according to anonymous sources.

The goal is to allow users to make stablecoin payments at thousands of merchants that accept Visa worldwide. This development syncs with broader efforts to bridge the gap between crypto and TradFi services, presenting fiat on-ramps and foreign exchange capabilities.

Talks with Payment Providers

Notably, to advance this initiative, Tools for Humanity, the organization overseeing Worldcoin and World Network, has reached out to card issuers, seeking potential product collaborations. This suggests that the company is actively pursuing partnerships to expand its reach in the financial sector.

Additionally, World Network has engaged with crypto card facilitators, including Rain, a firm with backing from USDC issuer Circle and America’s largest exchange Coinbase. Rain has previously introduced on-chain Visa cards for blockchain networks such as Optimism and Avalanche. 

Sources familiar with the discussions indicate that the company sees the World Wallet as more than just a crypto storage solution. 

Instead, it could function as an all-in-one financial hub, allowing users to engage in foreign currency exchanges, transfer digital assets, and spend funds directly via an integrated card. 

Given Altman’s influence and the substantial resources backing the project, industry experts speculate that this initiative could pose a competitive challenge to existing crypto wallet providers.

Recent Innovations in World Network’s Ecosystem

Besides its work on payments, World Network has been actively expanding its services to improve user experience and security. Earlier this month, the company launched World Chat, a messaging feature embedded within the World App. 

Notably, the addition allows users verified through biometric authentication to communicate securely. The feature looks to bolster real-world interactions by ensuring that users engage with real individuals rather than AI-generated bots or anonymous accounts.

Furthermore, World Network recently collaborated with gaming hardware giant Razer to address the persistent issue of bot interference in online gaming. Through this partnership, the companies introduced Razer ID verified by World ID, a single sign-on feature that confirms whether a user is human.

Bitcoin Eyes “Moderate Growth” This Week as Selling Pressure Declines Extensively

Elendu Benedict
-
0
Bitcoin Eyes “Moderate Growth” This Week as Selling Pressure Declines Extensively

Analysis suggests Bitcoin may experience a substantial rally this week if other adverse market catalysts do not interfere amid cooling sell-offs.

Bitcoin, the largest cryptocurrency by market cap, posted its second consecutive positive weekly closing for the first time since the week of its rally to its current all-time high of $109,300. This bullish closing follows a 4.24% growth to reclaim $86,000.

Notably, the premier crypto asset started on a strong foot this week, up over 2.7% today. Interestingly, recent analysis suggests the asset may continue its current bullish traction amid dwindling selling pressure.

Dwindling Selling Pressure

Axel Adler Jr., an analyst and verified CryptoQuant author, has highlighted a positive development that could fuel the rebound this week. In a March 24 X post, he noted that the selling pressure on Bitcoin has recently reduced, a strong bullish indication.

The prominent market watcher pointed to data from the Bitcoin Cumulative Net Taker Volume, an on-chain metric that shows the difference between taker buys and sells. For more context, the parameter tracks the sell and buy volume and highlights which is higher than the other.

A higher Bitcoin buy volume turns the metrics positive, and a larger sell does the converse. Notably, it helps track the market sentiments around keeping or dumping an underlying asset, in this case, Bitcoin.

Adler Jr. noted that the taker sales have dwindled over the last few months, signaling a reduction in the aggressive selling pressure noticed earlier in the year.

For perspective, an accompanying chart shows that the depth of a net taker sell volume in the 24-hour timeframe has steadily diminished from minus $1.6 billion on February 26 to just around a negative $250 million.

Bitcoin Cumulative Net Taker Volume/CryptoQuant

With the figures steadily depreciating, the analyst suggests Bitcoin could be up for a moderate rally this week. However, he noted that an adverse macroeconomic factor or other notable market catalyst would invalidate this proposed upward trajectory.

$110,000 Next?

Meanwhile, Bitcoin has already shown signs of a major rally today, surging past $88,000 for the first time since March 7. At the time of writing, the asset trades at $88,670.

While the CryptoQuant author did not mention the target for this rally, Arthur Hayes, co-founder of BitMEX, has asserted that a break past Bitcoin’s current all-time high to $110,000 looks most probable from here.

He cited the bias shift in the Federal Reserve System (Fed) from quantitative tightening (QT) to quantitative easing (QE). This follows Chair Jerome Powell’s disclosure last Wednesday that the central bank will cut rates twice this year.

Whale Loses $207K Trying To Trade President’s Endorsement of His Memecoin TRUMP

Okoya David
-
0
Whale Loses $207K Trying To Trade President’s Endorsement of His Memecoin TRUMP

A crypto whale who previously made $108 million on the President Donald Trump-linked memecoin Official Trump (TRUMP) has been burnt trying to replicate his success.

On Monday, March 24, crypto smart money tracker Lookonchain reported that this whale, who had made $108 million from a $1 million investment in TRUMP at its launch, had lost $207,000 trying to trade the memecoin again over the weekend.

Specifically, the whale purchased over 400,000 TRUMP for $5 million only to exit the trade with just above $4.79 million an hour later.

 

The loss comes as the trader appeared to try to profit off an endorsement from the president on Sunday, March 23. In a Truth Social post on the day, Trump asserted that he loved the memecoin, adding that it was “The Greatest of them all!!!!!!!!!!!!!!”

Screenshot of Trumps Truth Social post
Screenshot of Trump’s Truth Social post. Source: Truth Social

The post sent the token 14% higher within an hour, from just below $11 to nearly $12.5. However, the rally was short-lived as the token fell to near $11 again two hours later.

The price action underscores the memecoin’s price struggles following its record launch. For context, at current prices, it is down 85% from its all-time high of $78.

Meanwhile, Trump’s shilling of his memecoin no doubt adds to the list of ethical concerns surrounding the project, which allocates control of 80% of the token supply, about 800 million coins, to the president, albeit with a three-year vesting schedule of roughly 24 million coins per month.

Strategy Acquires 6,911 Bitcoin as Its Total BTC Holding Crosses 500K Milestone

Lele Jima
-
0
Strategy Acquires 6,911 Bitcoin as Its Total BTC Holding Crosses 500K Milestone

Leading business intelligence company Strategy acquires additional Bitcoin, bringing its total BTC holding above the 500,000 milestone.  

The company made this known in a Form 8-K filing submitted to the U.S. Securities and Exchange Commission (SEC). Michael Saylor, Strategy’s Executive Chairman, also provided insight into the latest Bitcoin acquisition. 

Latest Bitcoin Acquisition 

According to the update, Strategy splashed a whopping $584.1 million to acquire 6,911 BTC. The company acquired all 6,911 BTC in less than a week, from March 17 – 23, 2025. It purchased each BTC at an average cost of $84,529, which includes fees and other expenses. 

Notably, Strategy funded its latest Bitcoin purchase using the proceeds from its latest offerings of Class A Common Stock (MSTR) and Series A Perpetual Strike (STRK). 

During the Bitcoin acquisition period (March 17 – 23), Strategy raised $592.6 million through the sale of 1,975,000 MSTR shares and another $1.1 million from the sale of 13,100 STRK shares. 

Strategy Bitcoin Holding 

As part of its commitment to grow its Bitcoin holdings, Strategy used the proceeds to acquire 6,911 BTC at an average cost of $84,529 BTC. The company suggested that each BTC cost more than its previous purchases. Nonetheless, it has recorded a BTC yield of 7.7% since the beginning of the year.  

Following the latest Bitcoin acquisition, Strategy now holds a total of 506,137 BTC, cementing its position as the largest corporate Bitcoin holder. 

Per the filing, the aggregate cost of Strategy’s Bitcoin portfolio is $33.7 billion. This suggests that each BTC was acquired at an average price of $66,608, including expenses like fees. 

With Bitcoin currently trading at $87,285, Strategy’s Bitcoin stash is worth about $44.18 billion. This indicates that Strategy has amassed a profit of $10.48 billion via its Bitcoin investment. 

Expectedly, Bitcoin has since reacted positively to the announcement, with the asset soaring 2.48% over the past 24 hours to $87,285. 

In the meantime, Strategy does not plan to slow down on its Bitcoin acquisition spree, as it wishes to raise another $710 million by offering 8.5 million STRK shares. As previously reported, the sale will commence tomorrow, March 25, with the proceeds used to buy more BTC.

Top Analyst Says Dogecoin Prepping for a 12x Surge Past $2.28

Elendu Benedict
-
0
Top Analyst Says Dogecoin Prepping for a 12x Surge Past $2.28

With the cryptocurrency market rebounding from its prolonged flush, an analyst has predicted that Dogecoin is preparing for a 12x surge to unprecedented highs.

Top analyst Javon Marks made the audacious assertion in a Sunday commentary, citing adoption and cyclical price performance. He suggested that the leading meme coin will defy predominant downside momentum and target a 1,160% upside push.

Dogecoin’s recent positive price action seems to align with this prediction after closing with a mild 2.27% gain last week. Notably, the rebound comes on the heels of a dragonfly doji candlestick the week before, signaling lower price rejection and growing momentum for a surge to higher prices.

No Reason to Be Worried About Dogecoin

Despite its 44% year-to-date retracement, Marks charged concerned DOGE enthusiasts to look at the emerging trends in the asset’s ecosystem. The expert noted that Dogecoin has more backing and purpose now than ever, indicating imminent northward price action.

Although he did not go into details, recent adoption trends in the Dogecoin ecosystem support Marks’ claims. Multiple asset managers, including Grayscale and Bitwise, have filed for a DOGE spot exchange-traded fund (ETF), signaling institutional interest in the joke-themed token.

Furthermore, the top analyst cited Dogecoin’s historical price performance as an inspiration for the asset’s upward trajectory. Currently in its third bull cycle, the prominent meme coin has had a strong outing in its last two cycles, rallying over 20,566% and 44,471% in 2017 and 2021, respectively.

Dogecoin’s Cyclical Performance/Javon Marks

12x Rally to $2.28 Next

Marks asserted that Dogecoin is gearing up for a surge to uncharted territory. Specifically, he predicted a 1,160% surge to $2.28, a new all-time high for the meme coin.

Notably, the call aligns with the 1.618 Fibonacci extension, a zone that DOGE has crossed in its last two bull cycles. Moreover, the asset’s historical trend above the level indicates that $2.28 might be conservative.

Interestingly, there are higher calls for Dogecoin this cycle, with analyst Ali Martinez predicting an 11,296% rally to $20. He predicted that the surge potential would remain intact as long as the asset held support at $0.16.

In the meantime, Dogecoin is gearing to break from a falling wedge identified by analyst Carl Moon, with a retest of its January high of $0.4350 to follow. DOGE trades at $0.1755 at the time of writing, up 3.35% in the past 24 hours.

Dogecoin Champions Utility as Meme Coins Lose Favor After Multiple Boom and Bust Cycles

Okoya David
-
0
Dogecoin Champions Utility as Meme Coins Lose Favor After Multiple Boom and Bust Cycles

Dogecoin, the premier meme coin, has recently championed utility over hype.

The move comes as the hype train that led to meme coin dominance over the past year appears to be losing steam following several high-profile boom and busts like LIBRA, the token initially backed by Argentine President Javier Milei. 

Dogecoin Urges Projects to Build?

In a tweet over the weekend, the official Dogecoin X account championed utility over hype, arguing that prioritizing hype could lead stakeholders to become “someone else’s retirement plan.” As a result, it urges projects to build and focus on utility. 

The statements from the Dogecoin team carry a touch of irony. While it can be argued that DOGE has some utility beyond the hype, as it can be used to pay for Tesla merchandise and generally make payments on some websites, the meme coin primarily thrives off hype and speculation.

This irony is further highlighted by the fact that the statement comes in response to similar assertions from Litecoin. A few months ago, the project jokingly claimed to “identify as a meme coin” to attract attention. This was during the peak of the meme coin speculative flurry in Q4 2024.

DOGE Price Action

Amid the recent decline in meme coin momentum and crypto market woes, DOGE has taken a significant hit. Specifically, over the past three months, it has fallen as much as 70% from its December 2024 of $0.48442 to trade as low as $0.14297.

However, the meme coin has regained some of these losses. As of writing, DOGE is trading at $0.1769, reflecting a 3.5% increase over the past 24 hours. This comes as the crypto market appears to be experiencing a relief rally after weeks of uncertainty.

RippleX Product Director Confirms Under-Collateralized Loans are Coming to the XRP Ledger

Elendu Benedict
-
0
RippleX Product Director Confirms Under-Collateralized Loans are Coming to the XRP Ledger

Jasmine Cooper, RippleX’s Director of Product, has disclosed the firm is upholding its ploy to deploy a native lending protocol on the XRP Ledger.

RippleX, a developer-focused business within Ripple, has teased the idea of an XRP Ledger native lending protocol in the past. While it has taken quite a while, Cooper has reiterated the firm’s plans to roll out the product on the L1 blockchain imminently.

Speaking on the Thinking Crypto podcast on Sunday, Cooper mentioned that the team was working to introduce fixed-term, under-collateralized loans on the XRPL network. The all-native lending protocol would allow a variety of novel features on the blockchain, including asset borrowing and lending.

XRP Ledger DeFi Lending Gains Momentum

For the uninducted, RippleX officially announced its active endeavor to create a decentralized finance (DeFi) protocol native to the XRP Ledger that facilitates credits in April, confirming earlier speculations on the venture.

Notably, the peer-to-peer protocol will merge lenders and borrowers, eliminating the need for intermediaries, as seen in traditional finance. Borrowers will have access to pool funds at a preset interest rate and with no collateral, while the liquidity providers earn interest on their deposits of XRPL-native tokens.

The proposed lending protocol will further boost DeFi in the XRPL network, enhancing mainstream adoption. Interestingly, Cooper revealed it aligns with Ripple’s core objective of establishing the three pillars of onboarding traditional finance (TradFi) onto the blockchain.

Ripple’s Core Pillars of TradFi Integration to Blockchain

Since its inception, Ripple has sought to bring TradFi to blockchain. It has pursued this under core pillars such as facilitating cross-border payments, digital asset custody, and stablecoin infrastructure.

Copper noted that the introduction of a lending protocol rounds off the core pillars of integrating TradFi into the blockchain, which includes support for payments, trading, and credit.

With its cross-border payments gaining strides and XRP Ledger expanding to become an L1 powerhouse, the debut of services that give users access to credits through DeFi lending and borrowing completes the trifecta.

RippleX Role in XRP Ledger Expansion

Notably, the XRP Ledger has gained massive traction recently amid growing interest among institutional and retail participants. The growing user accounts and liquidity on the XRP parent chain support this claim.

According to Cooper, RippleX has played a crucial role in the blockchain’s development, contributing to its core features and capabilities. Furthermore, the firm designs and sees to the implementation of new proposed features along with the XRP community.

Cooper expressed excitement over the XRPL Ethereum Virtual Machine (EVM), which, unlike the mainnet, has certain functionalities and programmability for developers to experiment with. Furthermore, the RippleX executive stressed that this differed from private chains, which allow decentralized applications (dapps) to configure the chain settings as they wish.

VeChain Prepares for Wedge Breakout Rally: Is $0.050 Next?

Albert Brown
-
0
VeChain Prepares for Wedge Breakout Rally: Is $0.050 Next?

Will VeChain reclaim the $0.050 psychological mark as bulls prepare for a falling wedge breakout rally?

The crypto market is witnessing and anticipating a potential bullish recovery in the altcoin market as Bitcoin crosses above the $87,000 mark. Among the rapidly rising altcoins, VeChain has experienced a significant surge of nearly 5% over the past 24 hours.

Currently, the VET token is trading at a market price of $0.02647 with a market cap of $2.27 billion. With this short-term recovery, the altcoin shows signs of a potential falling wedge breakout rally on the daily chart. Could this lead to a 2x rally for VeChain?

VeChain Price Analysis

On the daily chart, the VET token’s price trend shows a significant bearish influence. Since early December 2024, the token has dropped from $0.080 to $0.01873.

This represents a nearly 75% decline over the past three months. During this downtrend, VeChain has formed a falling wedge pattern, characterized by the narrowing of price movements. This pattern indicates a buildup of momentum despite the ongoing bearish trend.

VeChain Price Chart
VeChain Price Chart

With an intraday recovery of 4.99%, VET is currently trading at $0.027, creating a bullish engulfing candle that challenges the overhead resistance trendline.

While the sudden surge in demand hints at a potential pattern breakout, the sideways movement of the contracting Bollinger Bands suggests minor consolidation. However, the momentum indicator supports the possibility of a trend reversal.

The DMI indicator shows a high likelihood of a positive crossover between the +DI and -DI lines. However, the declining ADX line signals that the trend momentum is still weakening.

VET Price Targets

Based on Fibonacci levels, a falling wedge breakout rally could push the price toward the 78.60% level at $0.03177. This crucial resistance is slightly above the $0.030 psychological mark and near the upper Bollinger Band at $0.02898.

Optimistically, with a broader market recovery, the altcoin could reach the 50% Fibonacci level, which is close to the psychological mark of $0.050.

On the downside, the key support levels are the lower Bollinger Band at $0.02254, followed by the psychological support at $0.020.

Cardano Eyes Breakout as Long Positions Surge: Will ADA Reach $1?

Albert Brown
-
0
Cardano Eyes Breakout as Long Positions Surge: Will ADA Reach $1?

Cardano is approaching a potential breakout rally amid market recovery and a rising number of long positions. Will this lead to an ADA price surge to $1?

As Bitcoin reclaims the $87,000 mark, the altcoins are gradually regaining momentum. Cardano, in the past 24 hours, has surged by 1.79% to sustain its dominance above the $0.70 psychological mark. 

Currently, the ADA token is trading at a market price of $0.7239, marking its second consecutive bullish candle. With a fresh bullish start to the week, the recovery is aiming to surpass the 200-day EMA line. Will this recovery lead to a price surge to the $1 psychological mark?

Cardano Analysis Teases Breakout Rally

On the daily chart, the ADA price trend shows a short-term rounding-bottom reversal from the $0.70 psychological level. This completes a morning-star pattern on Sunday with a 1.31% recovery.

Cardano Price Chart
Cardano Price Chart

The bullish recovery continues with an intraday price surge of 1.58%, creating its second consecutive bullish candle. However, the recovery run faces resistance from the 200-day EMA line.

The dynamic average line acts as a crucial short-term resistance, keeping bullish growth in check. Moreover, due to the prevailing downturn and short-term consolidation, the 20-day and 200-day EMA lines are on the verge of giving a bearish crossover.

However, as the broader market recovers, a bullish recovery in Cardano that surpasses the average line will likely reduce the chances of any bearish crossovers.

Currently, consolidation is keeping the Cardano price between $0.70 and the 61.80% Fibonacci level at $0.7351. Due to the short-term consolidation, the daily RSI is approaching the halfway level, reflecting neutrality in trend momentum.

Increased Long Positions Amid Market Recovery

The current Cardano price trend shows a double-edged scenario at play. However, the broader market recovery signals a potential boost for the Cardano futures market.

Open interest has surged to $785.91 million, while the funding rate of the long-to-short ratio has reached a neutral point at 1.0396. This marks a significant rise in the number of bullish positions over the past three days.

Currently, the funding rate is at -0.0029%, reflecting a slight weakness in bullish sentiment.

Cardano Longs Vs. Shorts
Cardano Longs Vs. Shorts

Will Cardano Price Hit $1?

According to the Fibonacci levels, a bullish breakout of the 61.80% level will likely result in a price surge to the 78.60% level. This crucial resistance is just below the $1 psychological mark at $0.9216.

On the flip side, the 50% level at $0.6272 remains a key support for Cardano. A closing below this level will likely test the long-standing support trendline near $0.5708.

1...848849850...2,651Page 849 of 2,651