📉 Inflation Fears Sink Crypto as Bitcoin Plummets to $87K
gm Defiers!
The cryptocurrency market faces ongoing challenges as inflation concerns rise, with NFT volumes hitting 2025 lows and Polymarket’s unresolved markets leaving millions in limbo.
Meanwhile, Coinbase is making a major move in privacy with its acquisition of the Iron Fish team, while THORChain’s involvement in the Bybit hack continues to spark debate about cypherpunk values.
✍️ In today’s newsletter:
- Inflation concerns sink Bitcoin to $87,000
- Aave considers proposal to create sGHO
- Netherlands tops list as most crypto-obsessed country
- DeFi debates on-chain equities
- PumpFun token launches plummet 80%
- NFT volume drop to 2025 lows
- Base bets on privacy with Iron Fish acqui-hire
- Polymarket delays resolution of BTC reserve market
- THORChain's decision to process Bybit hack funds sparks industry divide
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📉Cryptocurrency Market Slips as Inflation Fears Resurface Ahead of Crypto Summit
The cryptocurrency market recorded losses on Friday ahead of President Trump’s White House Crypto Summit, as inflation concerns resurfaced with new macroeconomic data.
Bitcoin dropped 1% to $87,500, while Ethereum fell 1.1% to $2,164.
💰Aave Proposes Savings Product Built on Its GHO Stablecoin
Aave is considering a proposal to launch sGHO, a low-risk savings product built on its GHO stablecoin.
Aimed at boosting GHO’s market cap from $200 million to $300 million, sGHO would offer yield based on Aave's savings rate and protocol revenue.
🔥Netherlands Ranks as the Most Crypto-Obsessed Country in the World
A new study by LegalBison has named the Netherlands the most crypto-obsessed country, with 5,593 monthly cryptocurrency-related searches per 100,000 people.
Liechtenstein, Switzerland, Austria, and Finland follow in the ranking.
😡DeFi Community Debates Onchain Equities as Coinbase Mulls Tokenizing COIN
Coinbase CFO Alesia Haas revealed that the company's 2020 F1 filing, which included a public security token, was rejected by regulators.
Despite past setbacks, she expressed excitement about the potential for tokenized securities, especially with the SEC’s recent crypto-friendly stance.
⬇️PumpFun Token Launches Drop 80%
Activity on PumpFun has slowed drastically as the market faces volatile price action and major rug pulls.
On March 3, only 11,000 tokens were launched, a sharp decline from the 70,000 launched on Jan. 23.
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👎NFT Volume Plummets to 2025 Lows After OpenSea Pauses Incentives
The NFT market continues to struggle as marketplaces fail to regain post-election volume levels, with a notable dip following OpenSea's temporary removal of bidding and listing points.
On March 5, the Ethereum NFT market processed just $5.7 million, a stark contrast to the $20 million to $30 million per day recorded when volume incentives were active.
🎰Base Makes Strategic Bet on Privacy With Iron Fish Acqui-Hire
Coinbase has acquired the team behind the privacy-focused Iron Fish blockchain to boost privacy efforts on its Ethereum Layer 2, Base.
In a blog post, Coinbase emphasized that privacy is a right, not a feature, and crucial for unlocking the full potential of crypto.
🛑Polymarket Stalls on BTC Reserve Market Despite Trump’s Executive Order
Polymarket’s prediction market on whether President Donald Trump would establish a US Bitcoin reserve within his first 100 days remains unresolved, frustrating traders.
Despite Trump signing an executive order to officially establish the reserve, the market remains unsettled, with $10.5 million in limbo.
❓Should THORChain Have Processed Bybit Hack Funds? Industry is Split
THORChain processed nearly three-quarters of the $1.4 billion Bybit hack, sparking a debate about cypherpunk values.
Despite the ability to block the stolen ether, the protocol allowed it to pass through, earning $5.5 million in the process.
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🌍 ELSEWHERE
- Bitcoin Drops Below $80,000 as Macro Headwinds Offset Trump Push (Bloomberg)
- Trump is fulfilling his crypto promises. It’s no longer enough for investors (Yahoo Finance)
- US SEC to move away from requiring crypto firms to register as trading systems, chief says (Reuters)
🔥TRENDING
- Should THORChain Have Processed Bybit Hack Funds? Industry is Split
- Polymarket Stalls on BTC Reserve Market Despite Trump’s Executive Order
- Base Makes Strategic Bet on Privacy With Iron Fish Acqui-Hire
- NFT Volume Plummets to 2025 Lows After OpenSea Pauses Incentives
- PumpFun Token Launches Drop 80%
- DeFi Community Debates Onchain Equities as Coinbase Mulls Tokenizing $COIN
