The biggest adventure you can take is to live the life of your dreams! (weekly crypto updates)

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What happened in crypto in the past week? I found a way to expose myself to BTC via BlackRock, using Freetrade. Feel free to check them. What else? Read below:

• Bitcoin: Six consecutive weekly red candles, five straight weeks of ETF outflows, four billion dollars pulled out from global crypto products. How this looks now? 21Shares listed an ETP on Euronext Amsterdam tied to Strategy's Bitcoin Treasury, and European retail investors can now yearn Bitcoin-backed yield through regular brokerage account. Trump the Bitcoin miner is a failure, with American Bitcoin posting a $59M quaterly loss, and the stock is down nearly 90% from its peak. Others, like ProCap Financial, added 450 BTC this week, with its stock jumping 6%. Institutions are quietly buying BTC again, with $506Minflow in a single day. One week ago was close to $63K, on 7th of March passed over $70K. Yet, as is sitting 24% to 66%below its historical trend relative to gold, are we getting ready for a major Bitcoin rally?
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• Ethereum: A decent move to gain our trust, the Ethereum Foundation made its first ever ETH staking deposit this week, around 70.000 ETH, aiming to get all rewards back into the treasury to fund protocol research, grants and ecosystem development. ETH treasury companies are getting wrecked, just look at FG Nexus who bought at an average price of 3860, already selling 21.000 ETH at a $80M loss, and their stock is down 52% in the past month. All this yo-yo move between $1900 and $2100 is getting us tired. And finally some good news, smart accounts are coming to Ethereum this year. Ethereum had its best week since January, pulling in $169M in a single day. Bitmain bought another $103M in ETH, last week at discount price, and now they hold 3.71% of the entire ETH circulating supply.

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• Altcoins and stablecoins: USDC had a massive quarter, as circulation hit $75B, up 72% since last year, with transaction volume up 247% to $11.9 trillion, and Circle stock jumped 20% after earnings dropped. Tether invested $200M into creator marketplace Whop, embedding USDT and wallet tooling for a platform with over 18M users. Tether also got Deloitte to check its reserves, covering USAT, the new US-regulated stablecoin issued though Anchorage Digital Bank. World Liberty Financial proposes a staking-focused governance, to stake unlocked tokens for voting rights and incentives. AAVE surpassed $1 trillion in cumulative lending. Telegram's build-in wallet launched yield vailts for BTC, ETH and USDT inside the chat app. Even memecoins seem to reach a possible bottom. Tokenized Gold now controls weekend price for gold. Predcition markets are on track to top $10B in annual revenue by 2030. Solana is now leading every altcoin in year-to-date inflows. Yet, Solana ecosystem tokens are lagging behind. Sony Bank is testing direct yen stablecoin purchases straight from customer bank accounts.

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• NFTs and blockchain games: Animoca landed a major licence in Dubai. I have also enjoyed playing Golem Overlord lately on Hive, and it is quite enjoyable, I would say, with some significant updates lately. On Splinterlands, we have had the Land NFT new update and improved tokenomics, and the new cards from the Conclave mini collection are up and running.

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• Good news: Binance started to partner with Ondo Finance to list tokenized US stocks on its Binance Alpha platform. Even Meta, after so many failures, it is still thinking to integrate stablecoin based payments in the second half of this year, with Stripe as a possible candidate for third-party providers. Tokenized US Treasury market just crossed $10.8B. The SEC approved WisdomTree's plan to enable 24/7 trading and instant settlement for its Treasury Money Digital Fund. The OCC dropped its proposed rules to implement GENIUS Act, covering everything: such as reserve requirements, redemption rules, custody standards and how new issuers can apply. Clarity Act could move the entire crypto market. Visa and Stripe's Bridge are taking their stablecoin card program to over 100 countries by the end of the year. Morgan Stanley is getting into crypto custody, as they applied for a national bank charter dedicated entirely to digital assets. Nasdaq filed with the SEC to offer yes-or-no binary options on the Nasdaq-100, mirroring Polymarket and Kalshi.

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• Bad news: South Korea is drafting a new bill that could force anyone promoting crypto online to disclose what they own and whether they are getting paid. Three Solana platforms announced shutdowns following a $40M Step Finance treasury breach. SBF just filed for a new criminal trial, claiming fresh witness testimony could change everything. JPMorgan CEO wants to kill your stablecoin yields, and this is ironic. Are you not making enough profits now, my friend? The man who stole $46M in crypto from the US Marshal Service wallets was arrested in Saint Martin, Guadeloupe. No great hacking here, his dad's company was the one taking care of the digital assets.

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• Joke of the week: MoonPay is letting AI agents called MoonPay agents to create wallets, trade, swap and move funds, with Coinbase, Stripe and deBridge all making similar moves. Personally I would not trust them, and you have the whole robots answering to customer service phone instead of human staff situation all over again, on a greater scale. All this AI bussiness is inevitable, Acurast activated 225.000 smartphones as a decentralized AI compute layer for Base. Even Revolut filed for a full US national bank license, second attempt after first one failed in 2023.

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All the best,

George

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Why not...

...have fun and win rewards on my favourite blockchain games (Splinterlands- a Hearthstone-like card game) (Golem Overlord - a Play2Earn game on Hive) (Upland - a real-life virtual land) (Holozing - a Pokemon-like game)and ( Chain of Legends - with a hint of Heroes of Might and Magic).

...get crypto while writing on the Publish0x blog. I am also writing for crypto on Hive.

Posted Using INLEO