On March 19, Ripple CEO Brad Garlinghouse announced that the company had been cleared by the US Securities and Exchange Commission regarding an alleged $1.3 billion unregistered securities offering.

Following the news, XRP (XRP) surged to $2.59, but the gains gradually faded as the cryptocurrency experienced a 22% correction, dropping to $2.02 by March 31.

Investors worry that a deeper price correction is imminent, as XRP is trading 39% below its all-time high of $3.40 from Jan. 16. Additionally, XRP perpetual futures (inverse swaps) indicate strong demand for leveraged bearish bets. 

Demand for bearish bets increased amid XRP’s decline

The funding rate turns positive when longs (buyers) seek more leverage and negative when demand for shorts (sellers) dominates. In neutral markets, it typically fluctuates between 0.1% and 0.3% per seven days to offset exchange risks and capital costs. Conversely, negative funding rates are considered strong bearish signals.

XRP futures 8-hour funding rate. Source: Laevitas.ch

Currently, the XRP funding rate stands at -0.14% per eight hours, translating to a 0.3% weekly cost. This indicates that bearish traders are paying for leverage, reflecting weak investor confidence in XRP. However, traders should also assess XRP margin demand to determine whether the bearish sentiment extends beyond futures markets.

Unlike derivative contracts, which always require both a buyer and a seller, margin markets let traders borrow stablecoins to buy spot XRP. Likewise, bearish traders can borrow XRP to open short positions, anticipating a price drop.

XRP margin long-to-short ratio at OKX. Source: OKX

The XRP long-to-short margin ratio at OKX stands at 2x in favor of longs (buyers), near its lowest level in over six months. Historically, extreme confidence has pushed this metric above 40x, while readings below 5x favoring longs are typically seen as bearish signals.

President Trump boosted XRP awareness, paving the way for future price gains

Both XRP derivatives and margin markets signal bearish momentum, even as the cryptocurrency gains mainstream media attention. Notably, on March 2, US President Donald Trump mentioned XRP, along with Solana (SOL) and Cardano (ADA), as potential candidates for the country’s digital asset strategic reserves.

Google search trends for XRP and BTC. Source: GoogleTrends / Cointelegraph

For a brief period, Google search trends for XRP outpaced those of BTC between March 2 and March 3. A similar spike occurred on March 19 following Ripple CEO Garlinghouse’s comments on the anticipated SEC ruling. As the third-largest cryptocurrency by market capitalization (excluding stablecoins), XRP benefits from its early adoption and high liquidity.

Related: Is XRP price around $2 an opportunity or the bull market’s end? Analysts weigh in

Interactive Brokers, a global traditional finance brokerage, announced on March 26 its expansion of cryptocurrency offerings to include SOL, ADA, XRP, and Dogecoin (DOGE). Since 2021, the platform has supported trading in Bitcoin (BTC), Ether (ETH), Litecoin (LTC), and Bitcoin Cash (BCH) pairs.

The wider adoption by traditional intermediaries, combined with rising Google search trends, further reinforces XRP’s position as a leading altcoin. It also sets the stage for increased inflows once macroeconomic conditions improve and retail investors actively seek altcoins with strong marketing appeal as alternatives to traditional finance, such as Ripple.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Opinion by: Genny Ngai and Will Roth of Morrison Cohen LLP

Since taking office, the Trump administration has designated several drug and violent cartels as Foreign Terrorist Organizations (FTOs) and Specially Designated Global Terrorists (SDGTs). US President Donald Trump has also called for the “total elimination” of these cartels and the like. These executive directives are not good developments for the cryptocurrency industry. On their face, these mandates appear focused only on criminal cartels. Make no mistake: These executive actions will cause unforeseen collateral damage to the digital asset community. Crypto actors, including software developers and investors, may very well get caught in the crosshairs of aggressive anti-terrorism prosecutions and follow-on civil lawsuits.

Increased threat of criminal anti-terrorism investigations 

The biggest threat stemming from Trump’s executive order on cartels is the Department of Justice (DOJ). Almost immediately after President Trump called for the designation of cartels as terrorists, the DOJ issued a memo directing federal prosecutors to use “the most serious and broad charges,” including anti-terrorism charges, against cartels and transnational criminal organizations.

This is a new and serious development for prosecutors. Now that cartels are designated as terrorist organizations, prosecutors can go beyond the traditional drug and money-laundering statutes and rely on criminal anti-terrorism statutes like 18 U.S.C. § 2339B — the material-support statute — to investigate cartels and anyone who they believe “knowingly provides material support or resources” to the designated cartels. 

Why should the crypto industry be concerned with these developments? Because “material support or resources” is not just limited to providing physical weapons to terrorists. “Material support or resources” is broadly defined as “any property, tangible or intangible, or service.” Anyone who knowingly provides anything of value to a designated cartel could now conceivably violate § 2339B. 

Even though cryptocurrency platforms are not financial institutions and never take custody of users’ assets, aggressive prosecutors may take the hardline view that software developers who design crypto platforms — and those who fund these protocols — are providing “material support or resources” to terrorists and launch harmful investigations against them.

This is not some abstract possibility. The government has already demonstrated a willingness to take this aggressive position against the crypto industry. For example, the DOJ indicted the developers of the blockchain-based software protocol Tornado Cash on money laundering and sanction charges and accused them of operating a large-scale money laundering operation that laundered at least $1 billion in criminal proceeds for cybercriminals, including a sanctioned North Korean hacking group.

Recent: Crypto crime in 2024 likely exceeded $51B, far higher than reported: Chainalysis

Moreover, the government already believes that cartels use cryptocurrency to launder drug proceeds and has brought numerous cases charging individuals for laundering drug proceeds through cryptocurrency on behalf of Mexican and Colombian drug cartels. TRM Labs, a blockchain intelligence company that helps detect crypto crime, has even identified how the Sinaloa drug cartel — a recently designated FTO/SDGT — has used cryptocurrency platforms to launder drug proceeds.

The digital asset community faces real risks here. Putting aside the reputational damage and costs that come from defending criminal anti-terrorism investigations, violations of § 2339B impose a statutory maximum term of imprisonment of 20 years (or life if a death occurred) and monetary penalties. Anti-terrorism statutes also have extraterritorial reach, so crypto companies outside the US are not immune to investigation or prosecution.

Civil anti-terrorism lawsuits will escalate 

The designation of cartels as FTOs/SDGTs will also increase the rate at which crypto companies will be sued under the Anti-Terrorism Act (ATA). Under the ATA, private citizens, or their representatives, can sue terrorists for their injuries, and anyone “who aids and abets, by knowingly providing substantial assistance, or who conspires with the person who committed such an act of international terrorism.” 

Aggressive plaintiffs’ counsel have already relied on the ATA to sue cryptocurrency companies in court. After Binance and its founder pled guilty to criminal charges in late 2023, US victims of the Oct. 7 Hamas attack in Israel sued Binance and its founder under the ATA, alleging that the defendants knowingly provided a “mechanism for Hamas and other terrorist groups to raise funds and transact illicit business in support of terrorist activities” and that Binance processed nearly $60 million in crypto transactions for these terrorists. The defendants filed a motion to dismiss the complaint, which was granted in part and denied in part. For now, the district court permits the Ranaan plaintiffs to proceed against Binance with their aiding-and-abetting theory. Crypto companies should expect to see more ATA lawsuits now that drug cartels are on the official terrorist list. 

Vigilance is key 

Crypto companies may think that Trump’s war against cartels has nothing to do with them. The reality is, however, that the effects of this war will be widespread, and crypto companies may be unwittingly drawn into the crossfire. Now is not the time for the digital asset community to relax internal compliance measures. With anti-terrorism statutes in play, crypto companies must ensure that transactions with all FTOs/SDGTs are identified and blocked, monitor for new terrorist designations, and understand areas of new geographical risks.

Opinion by: Genny Ngai and Will Roth of Morrison Cohen LLP.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

April 2 is shaping up to be a pivotal moment in global trade policy. US President Donald Trump has dubbed it “Liberation Day,” in reference to when new tariffs — exceeding 20%— will hit imports from over 25 countries. According to The Wall Street Journal, the administration is also weighing “broader and higher tariffs” beyond this initial wave, meaning that April 2nd is unlikely to be the end of economic uncertainty.

Markets reacted negatively over the past week, with the S&P 500 dropping 3.5%, while the Nasdaq 100 slid 5%, underscoring investor anxiety. At the same time, gold surged 4%, reaching a record high above $3,150 per ounce. The yield on the 10-year Treasury dropped to 4.2%, even as recent inflation data showed an uptick in some of the core components. 

The markets’ is a classic sign of a risk-off environment—one that often precedes economic contraction.

Throughout the volatility, Bitcoin (BTC) dropped 6%—relatively modest compared to its historical volatility, but this does not make it a reliable hedge just yet, although its growing role as a reserve asset suggests this could shift over time.

Bonds and gold lead the flight to safety

In periods of macroeconomic and geopolitical instability, investors typically seek yield-bearing and historically stable assets. Both US government bonds’ decreasing yield and gold prices’ increase signal an increasing demand for these types of assets.

Gold is having a standout moment. Over the past two months, gold funds have attracted more than $12 billion in net inflows, according to Bloomberg — marking the largest surge of capital into the asset since 2020.

Gold funds monthly inflows. Source: Bloomberg

Since the beginning of the year,  gold prices have been up nearly +17%, while the S&P 500 has been down 5%. This shows a precarious state of the economy, further confirmed by a sharp drop in the US consumer sentiment, which has fallen around 20 points to reach levels not seen since 2008. In March, just 37.4% of Americans expected stock prices to rise over the next year—down nearly 10 points from February and 20 points below the peak in November 2024.

As The Kobeissi Letter put it:

“An economic slowdown has clearly begun.”Bitcoin: Digital gold or tech proxy?

A Matrixport chart shows that BlackRock’s spot Bitcoin ETF (IBIT) is now 70% correlated with the Nasdaq 100—a level reached only twice before. This suggests that macro forces are still shaping Bitcoin’s short-term moves, much like tech stocks.

IBIT BTC ETF vs Nasdaq – 30-day correlation. Source: Matrixport

The ETF data supports this trend. After a strong week of inflows, spot Bitcoin ETFs saw a net outflow of $93 million on March 28, according to CoinGlass. The total Bitcoin ETP assets under management have dropped to $114.5 billion, the lowest in 2025.

The numbers show that Bitcoin is still perceived more as a speculative tech proxy and is yet to enter a new phase of market behavior. However, some signs of this potential transition are already apparent.

Related: Worst Q1 for BTC price since 2018: 5 things to know in Bitcoin this week

Bitcoin is on the path to becoming a reserve asset

Beneath the volatility, a structural shift is underway. Companies are increasingly using Bitcoin and its ETFs to diversify their balance sheets.

According to Tipranks, 80.8% of BlackRock’s IBIT shares are owned by public companies and individual investors. Furthermore, in Feb. 2025, BlackRock incorporated a 1% to 2% allocation of IBIT into its target allocation portfolios, reflecting growing institutional adoption.

Data from BitcoinTreasuries shows that publicly listed companies currently hold 665,618 BTC, and private firms hold 424,130 BTC. Together, that’s 1,089,748 BTC — roughly 5.5% of the total supply (excluding lost coins). These figures underscore the growing acceptance of Bitcoin as a treasury reserve asset. What’s more, some experts predict that holding BTC in corporate treasury will become a standard practice by the end of the decade. 

Elliot Chun, a partner at the crypto-focused M&A firm Architect Partners, said in a March 28 blog post:

“I anticipate that by 2030, a quarter of the S&P 500 will have BTC somewhere on their balance sheets as a long-term asset.”

The character of any asset is defined by the attitude of those who own it. As more corporations adopt Bitcoin for treasury diversification—and as sovereign entities begin experimenting with Bitcoin reserves—the cryptocurrency’s profile is shifting. The US Strategic Bitcoin Reserve, as imperfect as it is, contributes to this trend.

It’s too early to call Bitcoin a full-fledged hedge. Its price is still primarily driven by short-term speculation. But the transition is underway. As adoption grows across countries, companies, and individuals, Bitcoin’s volatility will likely decrease, and its utility as a partial hedge will increase.

For now, the safe haven label may be aspirational. But if current trends continue, it might not be for long.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

The market for tokenized real-world assets (RWAs) is growing by the day, but contrary to belief, the biggest hurdle to broader adoption isn’t regulation, but a lack of dedicated secondary markets for buying and selling tokenized securities, according to Prometheum founder and co-CEO Aaron Kaplan. 

In an interview with Cointelegraph, Kaplan drew attention to ARK Invest CEO Cathie Wood’s recent appearance at the Digital Asset Summit in New York, where she said that a lack of regulatory clarity is preventing her company from tokenizing its funds.

“Contrary to popular belief, however, the hurdle isn’t ambiguous regulation,” said Kaplan, who noted that the US Securities and Exchange Commission’s (SEC) special purpose broker-dealer framework and Alternative Trading System (ATS) licensing “already provide a regulated pathway for issuing blockchain-native funds that offer efficiency advantages over traditional issuances.”

“The real bottleneck lies in the limited market infrastructure for delivering tokenized securities trading to a broad investor base,” he said.

Excluding stablecoins, the value of tokenized RWAs has increased by nearly 8% to $19.5 billion over the past 30 days, according to industry data. Private credit and US Treasury debt remain the two largest use cases. 

The value of tokenized RWAs has grown rapidly over the past year. Source: RWA.xyz

“These assets currently sit on a handful of blockchains, but there is still no fully public secondary market where institutional and retail investors can buy, sell, and trade them, as they do with traditional securities on Nasdaq or through a brokerage account like Fidelity,” said Kaplan, who identified two general approaches for building out these platforms. 

The first is building tokenized securities markets using decentralized finance (DeFi) frameworks, much like what Ondo Finance, Ethena Labs and Securitize are doing.

Related: Ethena Labs, Securitize launch blockchain for DeFi and tokenized assets

The second approach involves integrating tokenization protocols into existing brokerage platforms that operate under SEC-registered entities and are subject to federal securities laws. 

“Legacy crypto and fintech platforms are already accustomed to facilitating cryptocurrency trading, so you would expect them to seek to broaden their offerings to include tokenized securities,” said Kaplan.

While many in the latter camp do not operate digitally, they “won’t cede market share without a fight,” said Kaplan. “Many are already investing in their own tokenization initiatives, or partnering with fintech and crypto firms, to remain competitive.”

“What’s at stake is the next wave of users onboarding into the digital asset space […] The question is then, will the brokerage industry enter the digital asset space, or will crypto platforms build the next gen markets for investors to buy and sell digital securities?”

As a digital asset trading and custody firm, Prometheum is attempting to bridge the infrastructure gap by building a full-service digital asset securities marketplace. The company claims that securities traded on Prometheum have reduced fees, faster settlement times and increased efficiency.

Related: CME Group taps Google Cloud for pilot asset tokenization program

Investors want “digital native” versions of assets they’ve always known

Perhaps the biggest demand driver for tokenized assets among traditional investors is that they want to access “digital native versions of all assets, in addition to crypto tokens, through a single ecosystem they are comfortably using […] to meet a range of financial goals,” said Kaplan.

One area where tokenization appears to be gaining traction is in real estate. As Cointelegraph recently reported, luxury and commercial properties are being tokenized all over North America and secondary markets are being established to enable the trading of tokenized shares. 

A 2024 report by Boston Consulting Group (BCG) called tokenization a “game-changing blockchain use case in financial services” due to its scalability and near-instant transactions. 

According to BCG managing director and senior partner Sean Park, tokenization could boost investors’ annual returns by roughly $100 billion while increasing the revenue streams of financial institutions. 

Tokenized RWAs as an investable asset class reached an “inflection point” in 2023. Source: Boston Consulting Group

The potential of tokenization has even been flagged by the World Economic Forum in a recent article published by Digital Asset co-founder and CEO Yuvan Rooz. 

In the article, Rooz showed that roughly 10% of the $230 trillion global securities market is eligible for use as collateral. 

“Tokenization, which improves collateral mobility and capital efficiency, could unlock this untapped capital and optimize intraday liquidity so that funds can be accessed and moved within the same trading day to meet payment and settlement obligations,” said Rooz.

Magazine: Block by block: Blockchain technology is transforming the real estate market

Opinion by: Igor Zemtsov, chief technology officer at TBCC

Following “Libragate,” memecoin prices crashed, with their market cap falling nearly 60% from 2025’s highs. But meme tokens, dead? They’ve got more lives than a cat on caffeine.

Despite the chaos, memecoins were still holding a $47.9-billion market cap as of March 10. It’s not exactly spare change. Meanwhile, degens are still out here “buying the dip” like it’s a Black Friday sale, convinced that absurdly named tokens like Unicorn Fart Dust, Fartcoin and Buttcoin will print them a 100x profit before year’s end.

Some call it irrational. Others call it degeneracy. But when has that ever stopped anyone in crypto?

Down bad, but not dead yet

Sure, memecoins aren’t exactly outshining Bitcoin (BTC), Ether (ETH) or Solana (SOL) right now. They’ve been getting absolutely obliterated. Prices have tanked, liquidity has dried up, and traders who thought they’d be sipping cocktails on a yacht by now are busy coping in Telegram groups.

Let’s not pretend this is the first time memecoins have been pronounced dead. Every time the world writes them off, they somehow claw their way back — sometimes with an even more absurd rally than before.

After all, logic has never been crypto’s strong suit. If it were, we wouldn’t have seen billion-dollar valuations for fart-themed tokens in the first place. And if human nature tells us anything, it’s that people will always chase the next big hype cycle — especially when it comes wrapped in humor and the promise of overnight riches.

Memecoins are down bad right now. But dead? Not a chance. The moment another ridiculous trend takes hold, the money will come flooding back. Because in crypto, what goes down eventually goes way back up — often in the most unexpected, meme-fueled ways.

Better marketing than serious crypto startups

Forget white papers, roadmaps or security audits. Memecoins don’t need any of that. All it takes is a viral meme on X, a 10-minute token launch, and within a few weeks, it could be sitting at a $50-million market cap. Meanwhile, legitimate projects spend years developing products, hiring developers and raising funds, only to watch their tokens struggle to gain traction.

Recent: Solana revenue slumps 93% from January high after memecoin bubble bursts

For memecoins, community is everything. The bigger it is, the better the pump. It’s not just the kind that retweets project updates 10 times daily, but one that fully embraces the joke. These communities don’t just speculate — they believe. And when enough people buy the meme, the token pumps.

Shiba Inu (SHIB) built a cult following as the so-called Dogecoin (DOGE) killer. It never killed DOGE, but it evolved into a $9-billion token with its own blockchain. Others took an even weirder approach. Fartcoin turned flatulence into finance. Unicorn Fart Dust captured the magic of completely nonsensical branding. And Buttcoin, a 2013 meme mocking Bitcoin, made a comeback to troll the entire industry. 

The formula is obvious: The more absurd the name, the bigger the hype. Sometimes, “it’s funny” is the only investment thesis you need.

Sure, the crash wiped out some gains, but let’s not act like memecoins vanished. They didn’t go to zero, which, in crypto terms, makes them survivors. A strong community, relentless memes and top-tier shitposting can keep even the most ridiculous assets alive.

Memecoins are a rebellion against traditional finance

People are investing money in Dogecoin instead of Apple stock, and for good reason. Well, sort of. Crypto has become the go-to escape hatch for those fed up with traditional finance. Banks freeze accounts. Regulators add more red tape. Insider trading runs rampant. Meanwhile, memecoins are a free-for-all, where anyone can win big or lose everything. No middlemen. No rules. Just vibes.

The same Buttcoin proves that people will pump anything just for fun. What started as a joke now has a dedicated community trying to make it the next Bitcoin. It’s complete insanity, which is precisely why it works.

If the world has gone mad, why not profit from the chaos? With financial markets becoming more centralized, restrictive and controlled, memecoins offer an anarchic alternative. They represent the financial Wild West, where anything goes; even the most absurd assets can see billion-dollar valuations.

Memecoins as internet culture

Memecoins have been around since 2013, when Dogecoin launched as a joke about speculative trading. No one — not even its creators — took it seriously until Elon Musk got involved and became its unofficial CEO.

That same year, Buttcoin was born from a YouTube video. It wasn’t a token back then, just a meme. But years later, the community decided to turn the joke into an actual cryptocurrency. It exploded because people love jokes — and some believe it could be the next Bitcoin.

Each new wave of memecoins pushes the absurdity even further — first DOGE, then Shiba, then Bonk (BONK). Now we have an entire market of tokens inspired by farts, crap and butts. And somehow, they keep outperforming serious projects.

As long as people love memes, memecoins will have a place in crypto. It is internet culture that has turned into an asset class.

Are memecoins here to stay?

Most memecoins start as a joke, but some have found actual use cases. DOGE is already accepted for payments by Tesla, AMC and GameStop. SHIB holders can shop at Gucci, Nordstrom and Whole Foods. Even newer projects like Solcat are launching games to expand their ecosystems.

Memecoins aren’t just memes anymore. They’re shaping a new financial reality where virality, speculation and internet culture define value. But let’s address the obvious: The recent crash has slashed valuations, leaving many wondering what’s next.

Are they here to stay, or are we watching them fade into irrelevance? If history tells us anything, it’s that memecoins are like cockroaches — resilient, unpredictable and always resurfacing. Investors should brace for more chaos because these tokens are as volatile as ever.

Memecoins may not be running the show right now, but let’s be honest: The next big meme token is probably already brewing in a Telegram group, just waiting for its moment to explode (or implode).

Opinion by: Igor Zemtsov, chief technology officer at TBCC.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

March was a rough month for markets — US President Donald Trump’s uncertain tariff policies created volatility in Bitcoin and crypto markets; meanwhile, decentralized finance (DeFi) struggled with security concerns.

Retaliatory tariffs on US goods in China and the European Union hit markets on March 10 and 12, respectively. Amid the tête-à-tête between the United States and its largest trade partners, Bitcoin managed to recover on March 24 to $88,0000 before slumping down again to around $82,000 at the time of writing.

A number of state legislatures are considering Bitcoin- and crypto-related legislation, from bills that would establish a Bitcoin reserve to crypto tax forces and exploring pension fund investment. Such bills moved forward, either in voting or in committee, in 13 US states this month.

The cool-down in memecoin markets has major revenue implications for Solana. After reaching eye-watering highs of $34 billion in January, Solana volumes on decentralized exchanges fell drastically. In March, volumes rarely exceeded $1 billion. 

Here’s March in numbers.

Trump’s trade war sees Bitcoin down 5% on the month

The first month of Trump’s administration saw a number of reversals on controversial trade policies that seemed to confuse and exasperate even the president’s political allies.

After a month of delay, tariffs went live on March 4 — 25% on Mexican and Canadian goods, 10$ on Canadian energy and 20% on Chinese goods. Just one day later, Trump’s administration delayed tariffs for auto-makers; on March 6, it announced delays on most Canadian and Mexican goods. 

Retaliatory tariffs from China raised the temperature, and on March 12, Trump announced a 24% tariff on aluminum and steel. By March 18, the US Treasury, part of the presidential administration, announced the possibility of negotiable tariff rates per country.

Bitcoin price, along with major stock indexes in the US, were hit as the estimated effects of tariffs changed by the week. On March 24, Bitcoin managed to recover to $85,000, putting it briefly above where it started the month. 

The trade war has affected the Trump family’s own crypto investments via World Liberty Financial (WLFI). The fund saw a mixed bag in March, with many of the altcoins in its portfolio, like Mint (MNT) and Tron (TRX), trading at or below where they started the month. 

Crypto and traditional financial have been on a downward trend at the end of March as traders brace for “Liberation Day” on April 2, when Trump has promised to levy dollar-for-dollar tariffs on all countries that have tariffs on US goods.

Crypto legislation enacted in two states

Two US states, Utah and Kentucky, enacted legislation in March regarding crypto. Both laws provide definitions for different aspects of digital assets and blockchain technology. They also provide zoning definitions and protections for cryptocurrency miners and create guidelines for businesses to accept cryptocurrencies. 

In March, various crypto bills have moved ahead in 13 other states. Three states, Texas, Georgia and Illinois, have introduced new bills in their respective legislatures. 

The Illinois act would establish regulations for the industry as well as consumer protections, while Georgia senators seek to create a senate study committee on digital assets and AI. 

Texas has been busy. In March alone, it introduced three separate bills that would create an oil-backed stablecoin, allow state officials to invest state funds in crypto and set up a blockchain pilot program for the state’s Department of Information Resources. 

Solana ecosystem faces 99% decrease in revenue

A number of high-profile scandals, including one involving the President of Argentia Javier Milei, have begun to scare investors out of the memecoin space. 

With most issuances happening on the Solana network, this exodus of traders has seen a 99% decrease in revenues from their high of $15 million on Jan. 19, to just $119,000 at publishing time. 

March also saw a continued downtrend in decentralized exchange volume generated onchain and daily active addresses. DEX volumes in March have steadily declined from $3.9 billion on March 2 to $782 million at publishing time. 

Magazine: Memecoins are ded — But Solana ‘100x better’ despite revenue plunge

At the end of February, Messari analyst Sunny Shi highlighted the “memecoin economy” composing much of the Solana ecosystem’s value. He added that “a deep contraction in memecoin volumes could cause a cascade of revenue declines.”

The future of memecoins remains uncertain, but Sythnetix founder Kain Warwick told Cointelegraph Magazine that the network is better off for them.

“One of the cool things about the memecoin speculation is it drove a huge investment in infrastructure on Solana,” said Warwick. “Solana as a chain is 100 times better than it was pre-memecoin.”

$22 million in DeFi hacks as analysts raise red flags over security

February saw the largest DeFi hack of all time, with the North Korean state-affiliated Lazarus Group nabbing $1.4 billion from Bybit. March pales in comparison — $22 million was stolen across four hacks (note these are not the same as exploits or short squeezes). 

Continuing the Bybit saga, hackers were reportedly able to funnel “100%” of the funds successfully — primarily through THORChain — according to blockchain security firm Lookonchain.

The continued proliferation of expensive DeFi hacks led blockchain sleuth ZachXBT to post on his Telegram channel on March 18 that DeFi “is unbelievably cooked when it comes to exploits/hacks and sadly idk if the industry is going to fix this itself unless the government forcibly passes regulations that hurt our entire industry.”

He said that many protocols have had “nearly 100%” of the monthly fees or volumes derived from Lazarus and “refuse to take any accountability.”

Related: Top 15 crypto conferences to mark your calendar in 2025

Concerns over security and macroeconomic factors aside, the crypto industry has continued to build and congregate at international conferences. March saw six major international crypto conferences in Europe and North America.

On the whole, March was a rocky month. Major coins traded sideways or saw significant losses — Ether (ETH) is down 18% on the month — and economic uncertainty defined the space with the introduction of new tariffs from China and the European Union.

Markets will be put to the test in April as Trump introduces mass tariffs on April 2, dubbed “Liberation Day.” However, past reversals or flip-flops on tariffs mean the effect may not be as pronounced as predicted.

The next month will also see a debate on the US stablecoin law in the House Financial Services Committee. Many in the industry regard the bill as the green light crypto needs to grow in the US. 

On April 18, Avraham Eisenberg, who was convicted of fraud and market manipulation in connection with the exploit of the Mango Markets DEX, will face sentencing. 

Magazine: Bitcoin ATH sooner than expected? XRP may drop 40%, and more: Hodler’s Digest, March 23 – 29

XRP (XRP) has lost more than 40% since hitting a multi-year high near $3.40 in January, and onchain data suggests the downtrend could deepen in the weeks ahead.

“Denial” preceding past 75-90% XRP crashes is back

XRP’s Net Unrealized Profit/Loss (NUPL) data from Glassnode suggests the token may be heading for another extended downturn.

The metric, which gauges the aggregate unrealized gains or losses of XRP holders, has historically served as a reliable barometer of potential trend reversals. In past market cycles, NUPL has peaked in the so-called “euphoria” zone just before major price tops.

In 2018, XRP soared above $3.00 as NUPL signaled extreme optimism, only to collapse 90% to below $0.30 as sentiment deteriorated through “denial” and into “capitulation.”

XRP NUPL historical performance chart. Source: Glassnode

A similar pattern played out in 2021 when XRP hit $1.96 before sliding 75% to $0.50 amid a sharp shift from euphoria to fear.

As of March 2025, XRP’s NUPL has once again entered the “denial” zone, with the price trading around $2.50 following a strong rally. If the pattern holds, XRP could face further downsides akin to the bear markets in 2018 and 2021.

XRP/USD weekly price chart. Source: TradingView

XRP now faces similar risks, trading sideways between $1.80 and $3.40, following a blistering 585% rally in just two months.

The rally accelerated after pro-crypto candidate Donald Trump won the US presidential election, while speculation grew around Ripple’s potential victory in its SEC lawsuit and the possible approval of a spot XRP ETF in 2025.

Related: SEC dropping XRP case was ‘priced in’ since Trump’s election: Analysts

As a result of these supportive fundamentals, some traders said XRP’s ongoing consolidation may eventually lead to a breakout. That includes market analyst Stellar Babe, who anticipates XRP’s price to gain 450%.

Technical fractal suggests XRP is topping out

XRP’s weekly chart suggests a bearish fractal from 2021 may be unfolding again.

In both 2021 and 2025, the XRP price formed a local top while the RSI printed a lower high, signaling bearish divergence and weakening upside momentum.

XRP/USD weekly price chart. Source: TradingView

Back in 2021, that divergence preceded an 85.50% sell-off that broke below the 50-week (the red wave) and 200-week (the blue wave) exponential moving averages (EMA) supports.

In 2025, XRP has again shown a similar RSI divergence, followed by a 40%-plus decline from its recent highs. It now risks an extended decline toward the 50-week EMA at around $1.58, down about 21.6% from the current price levels by June.

If the correction deepens and breaks below the 50-week EMA support, history suggests XRP could slide further toward the 200-week EMA around $0.87, or about 60% from the current price levels.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Non-fungible token (NFT) marketplace X2Y2 announced it is shutting down after three years of operation.

According to a March 31 announcement, X2Y2 will shut down on April 30, with the team switching its focus to an artificial intelligence project. The team shared its enthusiasm for the rapidly growing sector:

“It’s a pivot. Over the last 12 months, we’ve been diving deep into AI—hands down the biggest paradigm shift we’ll see in our lifetimes—and how it can transform crypto. We’re building something new.“

Token Terminal data shows that X2Y2 saw $53.6 million worth of trading volume over the last 365 days. While this is a far cry from market leader Blur with its $3 billion worth of trading volume, it still awards the protocol fourth place behind Blur, OpenSea and Immutable.

X2Y2 365-day trading volume chart. Source: Token Terminal

Charu Sethi, president at NFT-focused Polkadot and Kusama chain Unique Network, said the decision is not a sign of decline in the NFT market. She told Cointelegraph:

“The speculative phase focused on collectibles and trading is over, but NFTs are now entering their next growth era as core infrastructure enabling massive opportunities in gaming, AI, fan engagement and content authentication. “

Related: The ABCD of AI: Automation, big data, computer vision and deep learning

Real-world implementation is key

Sethi highlighted initiatives such as Mythical Games issuing large numbers of NFTs on Polkadot meant for in-game integration following a $75 million fundraise in 2021. She also pointed out a DappRadar report showing that the blockchain gaming sector reached 7.4 million daily unique active wallets in 2024.

According to Sethi, “X2Y2’s experience highlights that NFT platforms cannot rely solely on marketplace network effects.” Instead, companies should focus on building communities and market resilience by building NFTs into real-world applications. She said that the key is in valuing utility over speculation.

“Platforms should pivot toward utility-driven models that incentivize consistent user engagement, whether through gaming, sports fandom or AI-backed applications,” Sethi said. “Successful platforms will create ecosystems where NFTs are part of an ongoing value cycle, not just speculative trading assets,” she added.

Alexander Salnikov, co-founder of the Rarible NFT marketplace, told Cointelegraph that the apparent slump is just part of a larger NFT market cycle. His comments echoed Sethi’s, who also said that utility is key:

“NFTs remain one of the most powerful primitives in crypto, and the next wave will be led by projects that focus on strong use cases, whether in gaming, digital identity or brand engagement.”

Related: Nvidia’s stock price forms’ death cross’ — Will AI crypto tokens follow?

A new focus

The announcement was scant on details concerning the project that the X2Y2 team is focusing on. Still, the firm suggested that the readers should imagine “yields in a permissionless way, powered by AI.”

The new platform will reportedly allow users to earn profits throughout bear and bull markets and entire market cycles, in what is presumably a somewhat decentralized variation on AI-powered trading:

“This isn’t just another project; it’s our shot at creating real, long-term value in crypto for the broader community we’re proud to serve.“

The announcement follows early February reports that tokens tied to artificial intelligence agents were down by as much as 90% from 2024 highs. Still, recent reports suggest that the rise of AI-driven crypto agents may be following a familiar trajectory that mirrors the initial boom, bust and resurgence of ICO-era projects.

Magazine: ‘Chernobyl’ needed to wake people to AI risks, Studio Ghibli memes: AI Eye

Ethereum’s native token, Ether (ETH) has lost almost half its value two months after Eric Trump, son of US President Donald Trump, told his 5.7 million followers that it was a “great time” to add the biggest altcoin to their portfolios.

Source: X/Eric Trump

President Trump spoils son’s bullish ETH outlook

As of March 31, Ether was trading for as low as $1,820, down approximately 40% since Eric Trump’s bullish tweet.

ETH/USD daily price chart. Source: TradingView

Meanwhile, Ether’s crypto market share has plunged from 10.28% at the time of Eric Trump’s X post to 8.39% as of March 31, the lowest since 2020.

Ethereum Dominance Index daily chart. Source: TradingView

A series of market headwinds blindsided traders following Eric Trump’s comment.

For instance, on Feb. 21, Bybit, a prominent cryptocurrency exchange, suffered a major security breach in which it lost approximately $1.5 billion in Ether, marking the largest cryptocurrency heist to date.

President Trump’s escalating tariff war against Canada, Mexico, and China also intensified selling across Ethereum and the broader crypto market. His 25% tariffs on auto imports, which are set to go live on April 3, are further dampening risk sentiment.

Michaël van de Poppe, the co-founder of crypto portfolio management firm MN Consultancy, doubted an Ether price rebound in the coming days, adding that the markets should anticipate an ETH bottom when gold price peaks.

Source: X/Michaël van de Poppe

Gold, a traditional risk-off asset, has surged 17.60% year-to-date to reach a record high of $3,085 an ounce.

Trump-linked crypto platform grows ETH stash

World Liberty Finance (WLFI), a decentralized finance firm associated with the Trump family, strategy transferred 73,783 ETH (~$212.60 million at the time) to Coinbase Prime two days after Eric Trump’s X post on Feb. 21.

WLFI Ethereum holdings chart. Source: Arkham Intelligence

The close timing of these events has led to speculation within the crypto community about Eric Trump’s intentions. That is despite WLFI’s clarification that the transfer was part of routine treasury management and not indicative of an intent to sell off their holdings. ​

Source: Emperor

WLFI has made several multimillion-dollar crypto purchases just ahead of key industry events tied to President Trump.

Notably, the firm acquired $20 million worth of various tokens in the days leading up to the March 7 White House Crypto Summit, raising eyebrows over the timing and potential strategic intent.

Similarly, critics have raised concerns about Donald Trump’s new stablecoin, USD1, citing a conflict of interest.

WLFI has more than tripled its Ether holdings since the Feb. 23 transfer. However, even this aggressive accumulation—coupled with a broader uptick in whales’ ETH holdings—has done little to reignite bullish sentiment in the Ethereum market.

How low can Ethereum price go in April?

If technical indicators are any cue, Ether’s price can still go below $1,500 in April, down about 20% from the current price levels.

Notably, as of March 30, the ETH/USD pair had entered the breakdown stage of what appears to be a bear flag pattern.

ETH/USD daily price chart. Source: TradingView

This technical setup forms when the price consolidates higher after a sharp downturn and typically resolves when the price breaks below the lower trendline, falling by as much as the previous decline’s height.

Applying this technical rule brings $1,490 as Ether’s next downside target in April.

Double-bottom may start 35% price rebound

But all hope isn’t lost for the bulls. A sharp rebound from the current support levels at around $1,800 may still invalidate the bear flag setup. Instead, it may trigger a double-bottom pattern, which could help ETH’s price rebound toward $2,500 by April.

ETH/USD daily price chart. Source: TradingView

A double bottom typically appears after a prolonged downtrend and is characterized by two distinct troughs near the same price level, followed by a breakout above the interim high—known as the neckline.

Related: Ethereum futures premium hits 1+ year low — Is it time to buy the ETH bottom?

ETH has printed two bottoms around the $1,800 support zone, with the neckline resistance near $2,094.

A decisive break above the neckline could confirm this pattern, staging the price for recovery by as much as the pattern’s maximum height. That puts ETH’s upside target at around $2,500, up 35% from the current prices.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Michael Saylor’s Strategy bought nearly $2 billion of Bitcoin, taking advantage of a recent price dip despite growing market concerns tied to US President Donald Trump’s upcoming tariff announcement.

Strategy, formerly MicroStrategy, acquired 22,048 Bitcoin (BTC) for $1.92 billion at an average price of $86,969 per Bitcoin.

The company now holds over 528,000 Bitcoin acquired for $35.63 billion at an average price of $67,458 per BTC, announced Saylor, the co-founder of Strategy, in a March 31 X post.

Source: Michael Saylor

Strategy is the world’s largest corporate Bitcoin holder and surpassed the 500,000 Bitcoin holdings milestone on March 24, days after Saylor hinted at an upcoming Bitcoin buy as the company announced the pricing of its latest tranche of preferred stock on March 21.

The firm is currently up over 21% on its Bitcoin holdings with an unrealized profit of over $7.7 billion, according to Saylortracker data.

Strategy total Bitcoin holdings, all-time chart. Source: Saylortracker

Strategy’s near $2 billion dip buy comes despite investor concerns related to Trump’s upcoming tariff announcement on April 2, which may set the tone for Bitcoin’s price trajectory throughout the month.

Related: Bitcoin ‘more likely’ to hit $110K before $76.5K — Arthur Hayes

The April 2 announcement is expected to detail reciprocal trade tariffs targeting top US trading partners, a development that may increase inflation-related concerns and limit demand for risk assets like Bitcoin.

“This sell-off isn’t the end of the bull run — it’s a healthy reset,” Andrei Grachev, managing partner of DWF Labs, told Cointelegraph. “Markets overreact to tariffs and macro headlines, but long-term fundamentals haven’t changed.”

Related: Crypto debanking is not over until Jan 2026: Caitlin Long

MicroStrategy may owe taxes on unrealized Bitcoin gains

Despite never selling any Bitcoin, Strategy may have to pay taxes on its unrealized gains of over $7.7 billion, which had previously soared to $19 billion at the end of January, Cointelegraph reported.

The firm may have to pay federal income taxes on its unrealized gains, according to the Inflation Reduction Act of 2022.

The act established a “corporate alternative minimum tax” under which Strategy would qualify for a 15% tax rate based on the adjusted version of the company’s earnings, according to a Jan. 24 report in The Wall Street Journal.

Still, the US Internal Revenue Service (IRS) may create an exemption for BTC under Trump’s more crypto-friendly administration.

Magazine: Bitcoin ATH sooner than expected? XRP may drop 40%, and more: Hodler’s Digest, March 23 – 29