🏛️CBOE Asks SEC to Allow Staking for ETH ETFs

gm Defiers!

Crypto markets were rangebound on Wednesday despite the latest CPI figures showing U.S. inflation cooling, as macro and tariff concerns linger. Options data shows that investors are bracing for further Bitcoin weakness.

Meanwhile, the stablecoin sector continues to grow, hitting an all-time high market cap of nearly $235 billion.

✍️ In today’s newsletter:

CBOE proposes adding staking to Ethereum ETFs
Stablecoin sector continues to grow despite crypto selloff
Whale’s $200M ETH liquidation costs Hyperliquid $4M
Unichain activity spikes ahead of proposed incentive program
Options data shows investors hedging against BTC dropping below $75K
Taproot Wizards to mint on March 25
Stablecoin competition heats up ahead of expected regulations

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⬆️Cboe Proposes Adding Staking to Ethereum ETFs

The Cboe BZX exchange has filed two proposals with the SEC to incorporate staking into Fidelity’s spot Ethereum exchange-traded fund (ETF) and the Franklin Ethereum ETF.

📈Stablecoin Market Cap Hits New All-Time High of $234.8 Billion

The stablecoin sector reached a new all-time high as its total market capitalization hit $234.8 billion. The vast majority of that figure – $210 billion – comes from the two largest fiat-backed stablecoins, Tether’s USDT and Circle’s USDC.

💥Whale’s Nine Figure ETH Liquidation Costs Hyperliquid $4 Million

Hyperliquid, a decentralized perpetuals exchange that operates on its own Layer 1 blockchain, incurred a $4 million loss on Wednesday after a wealthy trader’s $200 million leveraged long position on Ether (ETH) was liquidated.

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🦄Uniswap Incentive Program Powers Unichain to 22,000% Spike in Active Addresses

Unichain, the Ethereum Layer 2 blockchain launched by Uniswap, is far and away the fastest-growing chain over the 30 days ending on March 10. Active addresses are up 21,713% over the past 30 days, to 236,452.

💱Crypto Bears Take Control As Investors Hedge Against Bitcoin Falling Below $75,000

Bitcoin bears have taken control in the past week as the cryptocurrency fell below $80,000. Open interest signals most investors are eyeing $75,000 and $70,000 as key levels.

🧙‍♂️Bitcoin-Based Taproot Wizards Mint Starts on March 25

Taproot Wizards, the best-known collection spawned out of Bitcoin-based Ordinals, will start issuing inscriptions on March 25. The mint will cost 0.2 BTC for “top supporters” who have completed the Taproot Wizards engagement and community-building quests.