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Shiba Inu Team Mentions These 5 SHIB Achievements to Elon Musk

Lele Jima
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Shiba Inu Team Mentions These 5 SHIB Achievements to Elon Musk

Shiba Inu ecosystem team calls Elon Musk’s attention to its achievements from 2021 to 2025, showcasing SHIB’s evolution from a meme coin to a utility project. 

Shiba Inu has experienced significant growth since its launch. SHIB, which launched as a meme coin in August 2020, has grown into a major ecosystem with multiple projects.

In addition, its ecosystem tokens, particularly SHIB, witnessed remarkable growth that saw its value surge over 150 million percent to an ATH of $0.00008616.  

5 Major Shiba Inu Achievements 

Despite Shiba Inu’s achievements going viral in the crypto community, the team recently called on Musk to educate him about the cryptocurrency’s successes from 2021 to 2025. 

Lucie, the leader of marketing at Shiba Inu’s ecosystem, highlighted these achievements in five major points. 

Shibarium 

At the top of the list is Shibarium, Shiba Inu’s Layer-2 blockchain built on Ethereum. Recall that Shiba Inu ecosystem developers launched the L2 blockchain in August 2023. Lucie claims that Shibarium is fast and cheaper to use when powering decentralized applications (dApps). 

Notably, she highlighted ShibDev, a platform that provides developers with the relevant tools to build on Shibarium. The marketing lead also emphasized that Shibarium powers gaming and can be adopted for real-world use cases. 

Games and Metaverse 

Second, the Shiba Inu ecosystem team included its multiple games and the metaverse project in the list of its achievements over the past few years. 

So far, the team has launched five games within the ecosystem: Shiba Eternity, Lap Dogs, Shibridge, Shiboshi Rush, and Agent Shiboshi. The ecosystem also has a functional metaverse project in the form of SHIB: The Metaverse. 

The post suggests that these projects are not just for fun but are designed to give users real rewards. 

Partnerships 

Another remarkable milestone Shiba Inu has achieved between 2021 and 2025 is its numerous collaborations with top projects such as K9 Finance, Chainlink, and Zama.ai. 

Interestingly, the UAE government is also Shiba Inu’s official partner. The partnership, signed earlier this year, will see the UAE government utilize Shiba Inu’s technology to boost its citizen-focused governance.  

Lucie noted that these partnerships aim to advance blockchain, AI, and finance to the next level. 

Shib OS

Furthermore, Lucie highlighted Shiba Inu OS (Shib OS) as another achievement made by its developers. Introduced earlier this year on Shibarium, Shib OS serves as a game-changer for builders and everyday users. It creates an all-in-one ecosystem featuring relevant gaming, transactions, and governance tools. 

Lucie suggested that with Shib OS, Shiba Inu’s real-world applications extend beyond crypto into other sectors.

Shib Torch 

Finally, the marketing lead highlighted Shiba Inu’s burn portal, Shib Torch, as one of its developmental achievements. This burning mechanism, released last year, seeks to reduce SHIB’s circulating supply by burning the token using a fraction of Shibarium transaction fees. 

Lucie suggested that this continuous incineration aims to amplify SHIB’s shift from a meme coin to a utility project. 

Furthermore, she indicated that the Shiba Inu ecosystem development team did not just create hype by building; it changed the game. In a follow-up comment, she mentioned that the team is still building and hoping that these efforts will drive the growth of the ecosystem assets’ values. 

In the meantime, Musk has yet to respond to these comments. 

“Ethereum is Dying,” Pundit Predicts Timeline For XRP To Flip ETH

Sam Wisdom Raphael
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“Ethereum is Dying,” Pundit Predicts Timeline For XRP To Flip ETH

A market pundit has argued that XRP could flip Ethereum to become the second-largest crypto asset in the next three months.

Ethereum Continues to Underperform 

This comes amid Ethereum’s bearish price performance since Q4 2024, as the altcoin continues to underperform the rest of the market. For instance, after the U.S. elections last November, the altcoin market (TOTAL2) gained 55%, while ETH saw a less substantial 47% increase.

Now, as the broader market pullback emerges, the altcoin market has dropped 23.52% year-to-date. However, ETH has crashed by 42.94% within the same timeframe. The altcoin has also lost massive value against Bitcoin and XRP since December amid this turbulent period.

Meanwhile, XRP has performed much better, leveraging Ethereum’s current underperformance to gain ground. For context, since November 2024, XRP has gained by more than 256% against Ethereum. The XRPETH pair has observed four consecutive green monthly candles within this period.

XRP to Flip ETH in 90 Days?

Considering these market conditions, market pundit and founder of Alpha Lions Academy Edoardo Farina believes XRP might be well on its way to surpass Ethereum’s market cap. For context, despite the underperformance, ETH is still the second-largest crypto asset, with $229.4 billion in market cap.

Nonetheless, Farina believes the altcoin king is likely to lose its position to XRP, which has outperformed the broader market in the past five months. “ETH is dying,” the pundit asserted. According to him, this expected flip could occur over the next three months.

Edoardo Farina on X
Edoardo Farina on X

Besides Farina, other industry leaders have pointed out Ethereum’s poor market condition. The Crypto Basic confirmed recently that Standard Chartered lowered its Ethereum price prediction for the end of 2025 from a lofty $10,000 to $4,000. Notably, the revised figure is lower than Ethereum’s 2021 all-time high.

While the bank mostly cited the shift in capital from Ethereum mainnet to layer-2 networks like Base, its recent price performance has also contributed to the review. If ETH continues in this trajectory and XRP preserves its bullish run, the flip could occur.

Notably, with ETH boasting a market cap of $229.4 billion, XRP has a valuation of $133.2 billion. As a result, XRP needs to add an additional $96.3 billion in valuation to surpass ETH. For this to occur, XRP would only need to rise to $3.9. At its current price of $2.29, a rally to this mark would only demand a 72% increase.

Here Are Returns on $1,000 Invested in Shiba Inu at $0.00001282 If SHIB Hits $100B Market Cap

Lele Jima
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Here Are Returns on $1,000 Invested in Shiba Inu at $0.00001282 If SHIB Hits $100B Market Cap

Investors who invest $1,000 in Shiba Inu at the current price could rake in massive returns if SHIB’s market cap soars to $100 billion.  

Shiba Inu has registered slight gains following its devastating collapse below the $0.000011 price mark last week. Recall that SHIB’s price plunged to a multi-month low of $0.00001090 on March 11. Interestingly, it rebounded quickly, soaring above the $0.000012 territory a few days later. 

At 13:57 (UTC) on March 15, SHIB trades at $0.00001282 per token, representing a 17.61% increase from the March 11 low. Shiba Inu’s price is up 3.45% over the past 24 hours, with its market cap at $7.55 billion. 

SHIBUSDT 2025 03 15 14 57 40
SHIBUSDT 2025 03 15 14 57 40

Amid SHIB’s latest recovery, some community figures have taken to crypto-related forums to set lofty targets for the token, with some projecting a surge to a $100 billion market cap. 

Projected Rise to $100B Market Cap 

This prediction has gained popularity within the Shiba Inu community over the past year. Notable experts like Oscar Ramos and Jake Gagain believe SHIB can achieve a market cap of $100 billion in its lifetime. 

According to Gagain, SHIB will soar to a market cap of $100 billion this cycle. He believes SHIB will be the first memecoin to hit this target.  

Similarly, Ramos, a popular market commentator, echoed that it has been confirmed that SHIB will clinch the $100 billion market cap. 

However, the experts did not highlight any factor that will drive SHIB to the target valuation or a possible time frame in which the prediction could materialize. 

SHIB Price If Market Cap Hits $100B 

Since Shiba Inu’s inception in August 2020, the token has experienced significant price surges, with most of these rallies occurring during the 2020/2021 market cycle. 

During this period, SHIB attained a peak valuation of $39 billion, a move that took its price to $0.00008845 per token. Therefore, hitting a $100 billion market cap will see SHIB register a new all-time high (ATH) price. 

If SHIB clinches a market cap of $100 billion, its price will rise to $0.0001697, marking a new ATH for the token. This analysis assumes that SHIB’s circulating supply of 589.25 trillion tokens remains unchanged.  

Interestingly, the $0.0001697 price is close to a previous target Ramos set in September 2024. 

Notably, while popular prediction platform Telegaon speculates that SHIB will clinch the $100 billion market cap by 2027, Changelly experts believe the feat will materialize the following year. 

Returns of $1,000 Investment in Shiba Inu If SHIB Clinches a Market Cap of $100B

While the possibility of SHIB attaining a $100 billion market cap remains uncertain, the current market conditions present an opportunity for investors to procure the token at a discounted price. 

For instance, a $1,000 investment in Shiba Inu at the current price of $0.00001282 will fetch 78,003,120 (78 million) SHIB tokens. Interestingly, this investment will yield impressive returns if SHIB soars to a market cap of $100 billion or a price target of $0.0001697. 

To be specific, a portfolio of 78 million SHIB, currently worth $1,000, would skyrocket to $13,237 if the $100 billion market cap or $0.0001697 price target becomes a reality. 

Once achieved, an investor who committed $1,000 in SHIB today would rake in a profit of over $12,000.  

Can SHIB Hit $100 Billion Market Cap? 

Shiba Inu’s market cap is currently in the billions. This indicates that the $100 billion target is not far-fetched. Nonetheless, several factors would be required to drive SHIB’s valuation to this level. 

Some include increased adoption from retail and institutional investors, favorable market conditions, overall ecosystem growth, and hefty SHIB burns that drastically reduce the token’s circulating supply. 

Despite these bold predictions and analyses, investors must tread with caution as nothing is certain in the crypto market due to its inherent volatility. 

Economist Peter Schiff Explains How Bitcoin Could Tank 85% Against Gold

Abdulkarim Abdulwahab
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Economist Peter Schiff Explains How Bitcoin Could Tank 85% Against Gold

Peter Schiff, renowned Bitcoin skeptic and chief economist, recently tweeted his concerns over the state of the financial market and its potential effects on Bitcoin.

According to Schiff, with the NASDAQ currently down 12%, the possibility of a full-blown bear market could send Bitcoin into a steep decline. He claimed that a 12% drop in the NASDAQ would correlate with a 24% drop in Bitcoin. If this trend continues, Schiff predicts that Bitcoin could fall to around $65,000 should the NASDAQ decline by 20%.

Notably, Bitcoin is trading at $83,000, down 23.5% from its all-time high. Meanwhile, Schiff believes a $65K dip could be a joke compared to where he really expects Bitcoin to crash. He cited past bear market data to warn of an even steeper price crash for Bitcoin.

Specifically, he pointed to the Dot-com bubble burst, the 2008 Global Financial Crisis (GFC), and the COVID crash of 2020, during which the NASDAQ experienced declines of up to 80%, 55%, and 30%, respectively.

Schiff suggests that Bitcoin could be in serious trouble if this bear market follows a similar trajectory. His worst-case scenario is for Bitcoin to crash to $20,000 or lower.

Gold’s Positive Correlation with NASDAQ Decline

While Schiff is bearish on Bitcoin, he is expectedly more optimistic about gold. He highlights a negative correlation between the NASDAQ and gold. Schiff cited that gold prices have increased by 13% since the NASDAQ’s peak in December 2023.

This trend suggests that gold may continue to rise as the NASDAQ falters. If the NASDAQ undergoes a 40% drop, Schiff predicts that gold could surge above $3,800 per ounce.

Moreover, Schiff speculates that if a bear market in stocks coincides with a decline in the U.S. dollar on the foreign exchange market, gold could see a more substantial rally.

In his view, this would contrast with Bitcoin’s likely downfall, confirming his belief that gold will remain a more stable store of value during periods of market volatility.

Bitcoin Decline Could End Its Store of Value Appeal

Schiff argues that even if Bitcoin were to stabilize at around $20,000 and gold reached $3,800, Bitcoin would still be down more than 85% in comparison to gold. He believes this sharp divergence would undermine Bitcoin’s reputation as a store of value akin to gold.

In his view, this would prompt governments and institutional investors to abandon Bitcoin altogether.

Schiff predicts that the U.S. government, along with other state entities, would no longer feel the need to hold Bitcoin in their strategic reserves.

In parallel, exchange-traded fund (ETF) investors might start selling their Bitcoin positions, further driving the market down. Schiff projects that the selling pressure could be so intense that companies like Strategy (MSTR), which hold substantial Bitcoin reserves, could face bankruptcy if they fail to sell enough of their holdings.

While Bitcoin continues to face volatility, Schiff’s bearish outlook aligns with his long-standing skepticism of BTC. Meanwhile, the crypto market has historically defied these pessimistic predictions.

Risk of Capitulation Looms for Ethereum if It Falls Below $1,843, On-Chain Data Shows

Albert Brown
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Risk of Capitulation Looms for Ethereum if It Falls Below $1,843, On-Chain Data Shows

IntoTheBlock’s analysis shows a strong support zone for Ethereum at around $1,843, where 3.56 million ETH are held.

Ethereum remains under pressure as the broader crypto market struggles to regain stability. The asset is currently trading around $1,900, experiencing noticeable fluctuations throughout the day. Despite a brief surge to $1,920, Ethereum retraced later. A drop below $1,880 was observed, but the quick rebound suggests some buying interest at lower levels.

Key Support and Resistance Levels

Amid Ethereum’s struggles, IntoTheBlock’s “In/Out of the Money Around Price” analysis provides insights into Ethereum’s support and resistance zones. The data identifies a significant accumulation zone between $1,843 and $1,900. 

In this range, market participants acquired approximately 3.56 million ETH, with around 4.64 million addresses holding assets. This concentration suggests a strong support zone below $1,900. Per IntoTheBlock, if Ethereum breaks below this level, the risk of further declines increases as demand weakens beyond this point.

Image

Meanwhile, another financial analysis categorizes Ethereum holders based on profitability. Currently, 85.9 million addresses, or 64.94%, remain profitable, having acquired ETH at a lower price than the current market value. 

In contrast, 39.94 million addresses, or 29.97%, are at a loss, having purchased ETH at a higher price. Additionally, 6.73 million addresses, or 5.09%, are at breakeven levels.

These holders face a critical decision point—whether to sell and add to selling pressure or hold in anticipation of a price rebound.

Bitcoin Historical In/Out of the Money
Ethereum Historical In/Out of the Money

Ethereum Staking is Surging

Elsewhere, Ethereum staking activity continues to grow, reflecting confidence in the network’s long-term stability. The number of depositors in the staking contract has increased by 0.44% over the past seven days. 

Ethereum Number of Depositors in Staking Contract
Ethereum Number of Depositors in Staking Contract

Over the last 30 days, staking participation has risen by 2.11%, while the 90-day increase stands at 6.45%. This steady growth highlights ongoing adoption and sustained interest in Ethereum staking incentives.

Top Analyst Spots Major Sign for Dogecoin Reversal That Previously Led to 240% Surge

Okoya David
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Top Analyst Spots Major Sign for Dogecoin Reversal That Previously Led to 240% Surge

Well-followed crypto market watcher “Trader Tardigrade” contends that Dogecoin may be ready to kick off a new surge.

Over the past few months, the price of Dogecoin (DOGE), the largest meme coin by market capitalization, has been battered by broader uncertainty driven by macroeconomic and inflation concerns.

Specifically, the meme coin has fallen over 70% in the past 3 months from a high of $0.48434 to trade as low as $0.14280. However, one analyst has suggested that Dogecoin has now flashed a key reversal signal.

A Dogecoin Weekly Doji

Well-followed analyst “Trader Tardigrade” has contended that Dogecoin may be ready to kick off a new surge. Trader Tardigrade disclosed this in an X post on Monday, March 17. He pointed to a doji candle on the meme coin’s weekly candlestick chart.

Dogecoin forms doji on weekly candlestick chart
Dogecoin forms doji on the weekly candlestick chart. Source: Trader Tardigrade

A doji is a candlestick formed when a candle’s opening and closing prices are virtually at the same level. It typically suggests that neither buyers nor sellers were able to prevail within that time frame.

On its own, it is a neutral pattern, but when put in a larger context, it can suggest a shift in a trend, as it could suggest that the previously dominant market players are losing conviction.

This doji formed on the Dogecoin chart last week as the meme coin opened the week at $0.16810 and closed at $0.16817 after weeks of selling.

Trader Tardigrade suggested this could indicate a price reversal as a similar doji preceded Dogecoin’s 240% run in Q4 2024.

A DOGE Rally to $1?

This DOGE rally, if it occurs, could take the meme coin near a long-desired yet elusive price milestone: the $1 price point. At least, that is what Trader Tardigrade’s chart suggests.

The analyst set a price target near $0.95, seemingly anticipating an ascending channel formation.

Nonetheless, at the time of writing, DOGE is trading at $0.1730, representing an over 3% loss on the day.

Standard Chartered Lowers Its Ethereum Target for 2025 from $10,000 to $4,000: Here’s Why

Sam Wisdom Raphael
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Standard Chartered Lowers Its Ethereum Target for 2025 from $10,000 to $4,000: Here’s Why

Standard Chartered has reduced its Ethereum price forecast for the end of 2025, citing the increasing dominance of layer-2 networks such as Base.

Recall that in January, the leading global bank forecasted Ethereum to reach $10,000 by the end of this year, with Bitcoin (BTC) potentially hitting $200,000. In a recent report, the bank slashed the Ethereum estimate to $4,000, representing a 60% drop.

This revision comes as ETH has underperformed massively amid the ongoing market downturn compared to other top altcoins. For instance, the asset is down by more than 42% year-to-date, making it one of the biggest losers this year.

However, Standard Chartered‘s revised estimate is largely due to the growing dominance of Layer-2 solutions, particularly Base, which the bank argues is extracting substantial value from Ethereum without reinvesting proportionally. 

Standard Chartered: L2s Like Base Causing Financial Strain on Ethereum

The bank’s latest research calls attention to the financial strain Ethereum faces as Layer-2 networks capture an increasing share of transaction fees while contributing little to Ethereum’s core ecosystem. 

Among these networks, the bank has identified Base, developed by Coinbase, as a major factor in Ethereum’s declining market capitalization. The study estimates that Base alone has redirected around $50 billion in value away from Ethereum by retaining a significant portion of its fee revenue. 

According to Standard Chartered, this trend has weakened Ethereum’s overall economic position and contributed to its underperformance compared to Bitcoin. For context, ETH is down 35.77% against BTC this year and 13.43% in March alone.

Standard Chartered pointed out that Ethereum’s own network upgrades, including the move to proof-of-stake in 2022 and the more recent Dencun update in 2024, have inadvertently fueled this trend. 

These improvements, while designed to enhance scalability and reduce transaction fees, have also allowed Layer-2 solutions to flourish at Ethereum’s expense. 

One issue raised in the bank’s analysis is the concept of blockchain “GDP,” a metric used to evaluate economic activity within Ethereum’s ecosystem. 

The findings indicate that a growing portion of value generation is happening outside of the Ethereum mainnet, particularly on Layer-2 networks like Base. This has led to concerns that Ethereum’s network is losing its economic strength as more profits flow away from its core infrastructure.

Possible Measures

Standard Chartered suggests that Ethereum’s declining market share could accelerate unless proactive measures are taken. One proposed solution is the introduction of a tax on Layer-2 networks that retain excessive profits without reinvesting in Ethereum’s mainnet. 

This would be similar to the windfall taxes imposed on foreign-owned mining companies that extract significant resources from a country without providing equivalent local benefits.

The research also predicts that Ethereum’s relative value to Bitcoin will continue to drop, with the ETH-BTC ratio potentially hitting 0.015 by 2027. If this projection holds, it would mark Ethereum’s lowest relative standing against Bitcoin since early 2017. 

Standard Chartered maintains that without intervention from the Ethereum Foundation or broader industry action, Ethereum’s underperformance relative to Bitcoin is likely to persist.

XRP Shines as Crypto Investment Products Retain Nearly $1B Positive YTD Inflow Despite 5th Consecutive Weekly Outflow

Elendu Benedict
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XRP Shines as Crypto Investment Products Retain Nearly $1B Positive YTD Inflow Despite 5th Consecutive Weekly Outflow

Crypto investment products have extended their outflow week to five amid a broader cautious trend among investors following market uncertainties.

Monday’s analysis from CoinShares shows that the investment vehicles recorded a net outflow of $1.7 billion last week, their fifth consecutive negative weekly flow. During the 17th successive outflow day—the first since CoinShares started recording in 2015—the crypto products have seen a total net outflow of $6.4 billion.

These outflows came mainly from the US Bitcoin and Ethereum spot exchange-traded funds (ETFs), which have been on a poor run of form. For perspective, the Bitcoin products recorded a net outflow of $1.28 billion, while Ethereum’s saw $166 million.

However, despite the outflows, the global digital asset investment products maintain a positive value year-to-date. The vehicles have a net inflow of $912 million since January 1, with a strong outing earlier in the year buffering the recent downsides.

Outflow Distribution by Asset

A detailed look into last week’s outflows shows that Bitcoin products led the outflows. The asset’s investment products saw a net outflow of $978 million, taking the monthly tally to $1.73 billion.

Ethereum also saw significant capital outflows the previous week, recording a negative flow of $176 million. Despite a monthly outflow of $265 million, the products tracking the performance of the second-largest cryptocurrency by market cap still maintain a year-to-date inflow of $421 million.

Meanwhile, despite general market skepticism, XRP seems to be catching the attention of investors. Products tracking the high-caliber asset recorded a net inflow of $1.8 million, taking its monthly total to $7.4 million. Notably, speculations of an imminent end to the case between Ripple and the US Securities and Exchange Commission (SEC) may have spurred this interest.

Digital Investment Products Weekly Flow
Digital Investment Products Weekly Flow

US Leads Outflow Per Country Amid Binance Sell-off

According to flow grouping by country, the United States led last week’s net outflow, with a negative flow of $1.16 billion. Crypto investors in the largest Bitcoin-holding nation have sold a total of $2.08 billion since the start of March but maintain a positive $787 million year-to-date.

Switzerland, Sweden, and Canada were the only other countries with net outflows, with investors pulling $528 million, $5.1 million, and $6.6 million, respectively. Germany, Brazil, and Australia saw inflows of $8 million, $4.2 million, and $1.6 million.

Weekly Flow by Country
Weekly Flow by Country

Meanwhile, Binance saw its assets under management (AUM) drop drastically to just $15 million last week. Although the report did not elaborate on the details of the dump, it noted that a seed investor exit from a crypto investment tied to the largest exchange by trading volume saw its AUM plummet.

Solana Takes One Major Step Closer to a SOL ETF Launch

Lele Jima
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0
Solana Takes One Major Step Closer to a SOL ETF Launch

Solana takes a major step toward securing the SEC approval for a spot ETF as the world’s largest derivatives exchange, CME Group, debuts SOL futures today. 

CME Group is introducing its Solana futures product today, paving the way for the launch of a SOL ETF in the U.S. 

CME Group Solana Futures 

In a recent press release, CME Group noted that its Solana futures consist of two contract sizes: a larger contract covering 500 SOL and a micro-sized contract covering 25 SOL. 

Accordingly, the Solana futures contracts will be settled in cash using the CME CF Solana-Dollar Reference Rate. This indicator provides a daily benchmark price at 4:00 p.m. (London Time). 

The product will be listed under CME Group Rules to ensure compliance with all necessary financial regulations upon approval. 

Notably, The Crypto Basic hinted about the potential launch of Solana Futures in January after CME accidentally posted the product, alongside an XRP Futures, on its beta website. 

Following this mistake, speculation suggested that the derivatives exchange could be preparing to launch futures products for Solana and XRP. 

The scheduled launch of the Solana Futures today confirms our January report. However, it remains to be seen whether CME is also preparing to launch XRP Futures, which could also increase the likelihood of a spot XRP ETF.

Success of CME’s Derivative Products 

It bears mentioning that CME Group offers futures products for two of the world’s largest cryptocurrencies–Bitcoin and Ethereum. In a report published last week, the derivative trading platform claimed that both products have witnessed significant growth since 2024. 

While the products’ average daily contracts surged 73% year-over-year to 202,000 contracts, their average open interest spiked by 56% in the same time frame to 243,600.  

Speaking in a statement, Teddy Fusaro of Bitwise said CME Group’s crypto-related derivatives have led to the birth of other financial products, like ETFs. CEO of Benchmarks Sui Chung also confirmed this claim, suggesting that CME’s Solana futures will increase the likelihood of spot SOL ETF approval. 

Impact of Futures Products on Potential ETF Approval 

For context, several asset managers have filed with the SEC to launch Solana ETF in the U.S. Bitwise, VanEck, Canary, and 21Shares submitted some of these filings. 

Despite the multiple filings, some experts, including Bloomberg’s Eric Balchunas, expressed concerns that the SEC might not approve any of the applications because Solana does not have a futures product.  

They contended that the two cryptos–Bitcoin and Ethereum–approved for spot ETFs already have regulated futures tied to them. 

Hence, they emphasized that Solana must also have at least one futures product to boost its chances of receiving the SEC’s blessing for a SOL ETF. These concerns are now invalid as CME Group prepares to launch Solana futures today. 

SEC Delays Decision on SOL ETF Approval 

Meanwhile, the SEC delayed its decision on whether to approve multiple Solana ETF applications on March 11. 

Consequently, the securities regulator opted for a “longer period” to decide whether to approve or deny the launch of SOL ETFs. It also made a similar decision for other crypto ETFs, including XRP and Litecoin. 

Despite the postponement, Balchunas and his colleague James Seyffart expressed optimism regarding the potential approval of the ETF, including those linked to Solana. 

Strategy Adds 130 BTC, Remains Shy of 500K Bitcoin Milestone

Okoya David
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Strategy Adds 130 BTC, Remains Shy of 500K Bitcoin Milestone

The world’s largest corporate holder of Bitcoin, Strategy, formerly MicroStrategy, has unveiled yet another purchase of the digital asset.

On Monday, March 17, Strategy disclosed that between March 10 and March 16, it had purchased 130 BTC worth $10.7 million at an average price of $82,981 per Bitcoin, including fees and expenses.

The latest purchase brings the firm’s total Bitcoin holdings to 499,226 BTC, acquired for $33.1 billion at an average price of $66,360 per Bitcoin. The firm remains shy of the 500,000 BTC milestone, which many anticipated it would hit this week. Still, the firm’s already outsized Bitcoin holdings account for nearly 2.4% of the total 21 million Bitcoin supply.

https://x.com/saylor/status/1901606324447646170?t=H3nqqI0vvlfGzYdkxVpVNw&s=19

Strategy funded its most recent Bitcoin purchase by selling 123,000 shares of its preferred stock offering, STRK. The sale is part of the firm’s plan to raise $21 billion to buy Bitcoin by selling 8% of its preferred stock announced on March 10. Following last week’s sale, the firm still has $20.99 billion worth of STRK available for sale.

Overall, the firm intends to purchase $42 billion worth of the leading digital asset between now and 2027.

Strategy Chairman Michael Saylor has suggested that the U.S. government adopt a similar Bitcoin accumulation strategy, arguing that it would allow it to clear its debt and generate capital.

Strategy’s continued Bitcoin purchases come despite recent uncertainty that has left the market risk-off. The asset has dropped nearly 24% from January 2025 all-time highs of $109,600 to trade around $83,300 at the time of writing.

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