⬆️ Bitcoin Rebounds Above $82K While Altcoins Struggle
gm Defiers!
Bitcoin rebounded above $82,000 today, recovering from recent losses, but the broader crypto market remains under pressure. Crypto ETPs recorded their fourth straight week of outflows, with $876 million withdrawn last week.
Meanwhile, Solana’s revenue has plunged 90% from its January highs as memecoin activity cools, and Ethereum’s Pectra upgrade on the Sepolia testnet faced disruptions due to an attacker spamming zero-value transfers.
✍️ In today’s newsletter:
- BTC climbs past $82K, but altcoins lag behind
- Solana revenue plunges 90% from January highs
- PancakeSwap hits highest monthly trading volume since 2021
- Solana leadership remains split over token inflation proposal
- Movement launches public mainnet beta
- Attacker disrupts Ethereum’s Pectra upgrade on Sepolia testnet
- Crypto market slumps 20% in February
- Crypto funds record $876M in outflows
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⬆️Bitcoin Rebounds Above $82,000 But Altcoins Lag Behind
The crypto market stayed volatile Tuesday as President Donald Trump’s trade war rhetoric and inflation concerns fueled investor uncertainty.
Bitcoin rebounded 4% to $81,700, while Ethereum dipped slightly to $1,915.
📉Solana Revenue Crashes 90% From January Highs
The memecoin market downturn is dragging Solana down with it. Solana’s chain revenue has plunged 90% from its January peak.
It fell from $38.5 million per week during the TRUMP memecoin frenzy to just $4 million per week in recent weeks.
🔥PancakeSwap Achieves Highest Monthly Trading Volumes Since 2021
PancakeSwap hit its highest monthly trading volumes since 2021, with activity surging in early 2025.
The DEX processed $81.9 billion in January and $78.7 billion in February, a massive jump from the same months in 2024.
😡Solana Leadership Remains Divided Over Token Inflation Proposal
The Solana community is divided over SIMD-0228, a proposal to adjust the network’s token inflation mechanism.
Solana Foundation President Lily Liu criticized the proposal as “half-baked,” warning it could harm SOL’s growth. Meanwhile, supporters like Solana co-founder Anatoly Yakovenko and Helius founder Mert Mumtaz back the proposal.
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🚀Movement Launches Public Mainnet Beta, Bringing Move Language o Ethereum Layer 2s
The Movement Network Foundation has launched its Movement Public Mainnet Beta, bringing the Move programming language to Ethereum via a Layer 2 solution.
The launch includes Movement Cornucopia, a liquidity initiative that has already amassed $223 million in total value locked (TVL) to support DeFi.
👎Attacker Stymies Ethereum’s Pectra Upgrade on Sepolia Testnet
Ethereum’s Pectra upgrade on the Sepolia testnet faced unexpected disruption due to an attacker spamming zero-value transfers.
Although the upgrade launched as scheduled on Mar. 5, Ethereum Foundation’s Tim Beiko noted that a custom deposit contract issue caused nodes to produce empty blocks.
📊Crypto Market Tanked 20% in February, Pummeled by Bybit Hack, LIBRA Debacle: Binance Research
The crypto market dropped 20.2% in February, according to Binance Research’s latest report.
The selloff was driven by declining investor confidence, a slowdown in memecoin activity after the LIBRA token debacle, and the $1.46 billion Bybit hack.
💸Crypto Funds Lose $876 Million in Fourth Consecutive Week of Outflows
Crypto exchange-traded products (ETPs) recorded $876 million in outflows last week, marking the fourth consecutive week of withdrawals, according to CoinShares.
This brings monthly outflows to $4.75 billion, cutting year-to-date inflows to $2.6 billion.
🌍 ELSEWHERE
- Strategy stock is down 50% since November highs as economic headwinds weigh on Bitcoin (Fortune)
- DeFi will ‘run in parallel’ with TradFi, says Euler Labs COO (TheStreet)
- VC Investors Find Complicated Ways to Monetize Locked-Up Crypto (Bloomberg)
🔥TRENDING
- Solana Revenue Crashes 90% From January Highs
- Attacker Stymies Ethereum’s Pectra Upgrade on Sepolia Testnet
- PancakeSwap Achieves Highest Monthly Trading Volumes Since 2021
- Bitcoin Drops to $79,000 as Inflation Worries Mount
- Movement Launches Public Mainnet Beta, Bringing Move Language o Ethereum Layer 2s
- BTC Drops as U.S. Strategic Bitcoin Reserve Disappoints Traders
