📉Standard Chartered Slashes ETH Price Target by 60%

gm Defiers!

Crypto markets dropped for a second day ahead of Wednesday’s Fed meeting. Bitcoin dipped under $82K as trade war fears continue to weigh on investor sentiment.

As risk assets dive, demand for tokenized Treasuries shows no signs of slowing down, with the sector hitting an all-time high market capitalization of $4.62 billion on March 16.

Plus, Aave DAO rejects new token, TON soars 30%, and PumpFun activity dwindles.

✍️ In today’s newsletter:

Standard Chartered drops ETH target, says L2s are draining revenue
Tokenized Treasury market cap hits all-time high
Bitcoin dips under $82K ahead of Fed meeting
Aave community rejects proposed new RWA token
TON surges 30% on Pavel Durov’s release from France
PumpFun token graduation rate plummets

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📉Standard Chartered Slashes ETH Price Target to $4K from $10K, Saying L2s Are Draining Revenue

The investment bank said changes made to Ethereum over the past few years, including the switch to proof-of-stake and its Layer 2-based scaling roadmap, have been “value destructive.”

🚀Blackrock’s BUIDL and Ondo Crack $1 Billion as Tokenized Treasuries Hit All-Time High

Tokenized Treasuries hit an all-time high of $4.6 billion on March 16 after two issuers broke the $1 billion mark. A global market selloff is driving investors into the safest traditional assets like Treasuries and gold.

🏦Crypto Market Extends Losses as FOMC and Trade Tensions Unsettle Investors

Bitcoin (BTC) fell 2% over the past 24 hours to $81,700, while Ethereum (ETH) dipped 1.3% to $1,884. Meanwhile, XRP plummeted 4.5% to $2.24, and Solana (SOL) dropped 4.4% to $122.

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Binance co-founder, and now “intern” at YZi Labs, Changpeng Zhao (CZ), sat down with Anna Kazlauskas, the creator of Vana Network, to discuss the role crypto and blockchain will play in the growth of artificial intelligence (AI).

The interview discusses the importance of data in AI training, its current limitations, and how transparent and community-led efforts can enhance the AI and machine learning space.

CZ and Anna brainstorm the idea of data as an asset class, DataDAOs which contribute to data accumulation and decentralized training, and DataDAO tokens which allow the market to assign value to these efforts.

Vana Network and YZi Labs envision a future where decentralized training and data contributions can not only assist the AI and machine learning space, but significantly improve it.

🙅Aave DAO Rejects Plan To List Token Linked to RWA Initiative

Token holders of Aave, the second-largest decentralized finance (DeFi) protocol by total value locked (TVL), rejected a proposal to list a token linked to its real-world assets (RWA) initiative Horizon.

📈Toncoin Spikes 30% After France Releases Telegram CEO Pavel Durov

Toncoin (TON) spiked almost 30% over the weekend on news that Telegram founder and CEO Pavel Durov had his passport returned by French authorities. Durov was arrested in France on Aug. 24, accused of running a platform that enables illegal activities in privacy-focused messaging app Telegram.