Market panic index 31, still panic

This war between Russia and Ukraine has made people see the application and significance of cryptocurrency. When facing sanctions imposed by Western countries such as Europe and the United States on Russia, the Russian people can bypass the rule of the US dollar through cryptocurrency, and the convenience and speed are much higher than the settlement under normal circumstances. This makes everyone in the world understand the advantages and value of cryptocurrency. At the time of sanctions, although Russia's cryptocurrency trading volume was quickly halved, this monitoring value is only within the scope of centralized exchanges. Its on-chain transactions are completely uncontrollable, and no one can really control it. The President of the European Central Bank said that Russians are using cryptocurrencies and stablecoins to bypass sanctions, and the ruble's participation in cryptocurrency has reached its highest level since 2021. French officials believe that cryptocurrencies are used for illegal activities and anonymous transactions should be terminated. It's a pity that every time the times are subverted and revolutionized, it will bring great progress to human wisdom. In the end, the market will choose who wins and who loses, not the power of hegemony. French officials are just whimsical politicians.

The Governor of Florida stated that Bitcoin will be accepted for tax payment. The U.S.'s autonomous tax system is used by almost everyone every year, so accepting Bitcoin for tax payment is equivalent to completing Bitcoin's legal tender status. Another state has illuminated itself for Bitcoin.

The Finance Minister of El Salvador stated that Bitcoin bonds will be issued by September at the latest. It seems that this $1.5 billion national sovereign Bitcoin bond is getting closer and closer to us. Bitcoin is making history again and again.

Crypto.com has become the official sponsor of the 2022 Qatar World Cup. When the World Cup starts at the end of the year, more people will be aware of the crypto market. Perhaps the real bull market will be in the fourth quarter of this year. The crypto industry has become the most mainstream and richest consortium in the world. Scams will never make so much money. Only trends can make all this happen.

Yuga Labs, the parent company of Bored Ape, completed financing with US$450 million and was valued at US$4 billion. It was a shell company that was nothing a year ago, but a year later, it became a company worth US$4 billion thanks to the NFT trend. Many people say that making money is difficult, but in fact, sometimes if you step on the right trend, you will have no worries in your life, but opportunities are always reserved for those who are prepared.

The Bank for International Settlements is working with the South African Reserve Bank, the Reserve Bank of Australia, the Central Bank of Malaysia and the Monetary Authority of Singapore to jointly develop a digital currency platform that allows institutions to trade CBDCs. In the future, multi-line digital currency trading platforms will flourish, and the energy of all parties will be concentrated on Bitcoin. Ultimately, governments will have no choice but to turn rejection into embrace.

The top 1,000 ETH whales increased their holdings in the past week, with ETH being the largest, followed by three stablecoins, and then APE. This shows that whales are still optimistic about the governance and future of APE. In the short term, due to the large number of trapped positions, it will take some time to clean up the market. We can patiently wait for a good price before considering it.

Venture capital firm Haun Ventures raised $1.5 billion to support the development of Web3, and Cypher Capital announced the launch of a $100 million crypto asset fund. Institutional funds continue to participate in it, and the overall optimistic logic of the market has not changed.

USDT increased by 1 billion, reflecting the increase in volume.

Panic 31, still panic.

Coin News:

Bitcoin: On March 25, the quarterly options with the biggest pain point of 41,000 will expire. Therefore, the volatility is not expected to be too large in the next two days. Fluctuating around 42,000 is a relatively good trend. It is expected that the market will wait until the delivery at 16:00 on the 25th to start the upward movement.

ETH: The biggest pain point is 3000, which is basically in line with expectations. Recently, the mention rate of Ethereum in SEC documents has hit a record high, indicating that the market's recognition of ETH is increasing, and the exchange inventory only accounts for 18.3% of the total, a new low since 2018, indicating that the supply is already very low, and the future is worth looking forward to. In the short term, it is still mainly linked to the big cake.

ADA: The trading volume has increased significantly, and the locked amount has rapidly risen to above US$400 million. This should be because the offline community has begun to promote it. The overall trend is expected to maintain a rebound.

LUNA: The locked volume is nearly 27 billion US dollars, and the currency price and TVL are maintained at high levels. However, the volume has not changed much recently, so the probability of high-level fluctuations is high.

SOL: Coinshares and FTX announced a partnership to launch physical SOL ETP, sharing SOL's staking rewards, with an annual staking reward of 3%. This will be good for SOL, locking more SOL supply into the ETP pool, and also good for SOL's DEXs such as SRM and RAY, because these funds will be locked into the two leading pools in large quantities, so it is expected to continue to climb out of the pit.