Bitcoin trader issues 'overbought' warning as BTC price eyes $84K
Bitcoin (BTC) ticked higher at the March 31 Wall Street open as traders stayed risk-averse on the short-term BTC price outlook.BTC/USD 1-hour chart. Source: Cointelegraph/TradingViewBitcoin RSI teases bearish continuationData from Cointelegraph Markets Pro and TradingView showed local highs of $83,914 on Bitstamp, with BTC/USD up 1.5% on the day.With hours to go until the quarterly candle close, Bitcoin saw some much-needed relief, even as US stocks opened lower.Market momentum remained tied to upcoming US trade tariffs set to go live on April 2, with gold also slipping after touching fresh all-time highs of $3,128 per ounce.XAU/USD 1-hour chart. Source: Cointelegraph/TradingViewCommenting on BTC price action, many market participants nonetheless favored caution.“Retesting our 84k area of interest,” popular trader Roman wrote in his latest X analysis of the 4-hour BTC/USD chart. Roman referenced the relative strength index (RSI) while forecasting a return to levels closer to the $80,000 mark.“To me it looks like we should begin to head lower as we have a break down and bearish retest on LTF,” he continued. “RSI also retesting the 50 area with stoch overbought. HTF still leans bearish as well.”BTC/USD 4-hour chart with RSI data. Source: Roman/XPopular trader and analyst Rekt Capital went further on RSI signals, revealing a support retest on daily timeframes after a key breakout from a multimonth downtrend.“The $BTC RSI is trying to retest its Downtrend as support. Meanwhile BTC's price action is also facing a Downtrend,” he summarized to X followers.“If the RSI successfully retests its Downtrend... That would display emerging strength & price would be able to break its own Downtrend.”BTC/USD 1-day chart with RSI data. Source: Rekt Capital/XEarlier, Cointelegraph reported on various BTC price metrics combining to produce a lackluster picture of the current phase of the bull market, hinting that the correction would continue.BTC price targets, meanwhile, now extend to $65,000, with prediction platforms seeing even lower.BTC price analysis draws comparisons to late 2024Both March and Q1 performance thus left much to be desired.Related: Worst Q1 for BTC price since 2018: 5 things to know in Bitcoin this weekAmid a broad lack of upside catalysts, BTC/USD traded down 10.8% year-to-date at the time of writing and 1.1% lower for March, per data from monitoring resource CoinGlass.BTC/USD monthly returns (screenshot). Source: CoinGlassIn its latest analytics report, “Bitfinex Alpha,” released on March 31, crypto exchange Bitfinex acknowledged that 2025 was Bitcoin’s worst first quarter in years.“Any buying momentum is currently being capped at the $89,000 level—coinciding with the previous range lows seen in December 2024, and acting as a firm resistance level to further gains,” contributors observed. “This resistance is also coinciding with further downside in equities, with the S&P 500 closing the week 1.5 percent lower.”BTC/USD 1-week chart (screenshot). Source: BitfinexThe report highlighted the growing correlation between Bitcoin and US stocks.“Despite the turbulence, price action in recent weeks appears to have carved out a consolidation range between $78,000 and $88,000. Notably, signs of capitulation are easing, with fewer reactive sellers present and long-term holders beginning to accumulate once more,” it added.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.
Memecoins 2.0: The market crashed, but the billion-dollar circus rolls on
Opinion by: Igor Zemtsov, chief technology officer at TBCCFollowing “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 yetSure, 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 startupsForget 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 burstsFor 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 financePeople 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 cultureMemecoins 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 2025 in charts: Trump trade war hits Bitcoin, $22M in DeFi hacks
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 $1 billion. Here’s March in numbers.Trump’s trade war sees Bitcoin down 5% on the monthThe first month of Trump’s administration saw a number of reversals on controversial trade policies that seemed to confuse and exasperate even the president’s political allies.After a month of delay, tariffs went live on March 4 — 25% on Mexican and Canadian goods, 10$ 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 statesTwo 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 revenueA 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 plungeAt 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 securityFebruary 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 2025Concerns 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
BNB Chain catches memecoin wave as Solana wipes out
BNB Chain, the Ethereum Virtual Machine (EVM)-compatible network tied to cryptocurrency exchange Binance, is experiencing a resurgence in the decentralized finance (DeFi) and memecoin spaces just as some of its rivals face an identity crisis.For most of 2024 and into early 2025, Solana dominated the retail DeFi narrative. It became the network of choice for memecoins tied to celebrities, influencers and political figures, including US President Donald Trump.However, the ecosystem took a reputational hit after Argentine President Javier Milei jumped on the memecoin bandwagon. His associated project, “Libra,” was accused of insider trading. The controversy dented trust in Solana’s memecoin sector and opened the door for competitors.BNB Chain has seized the moment, capturing displaced memecoin volume. The chain has its own memecoin platform, Four.meme — comparable to Solana’s Pump.fun — and introduced daily competitions to promote new projects and subsidize their liquidity. Some of these memecoins have even gone on to secure listings on Binance itself.This momentum is clearly reflected in the trading volume of the network’s top decentralized exchange (DEX), PancakeSwap. In a two-week stretch from March 15, PancakeSwap led all EVM chains’ DEX volume on nine separate days, according to Dune Analytics data.PancakeSwap on BNB Chain dominates the second half of March in DEX volume. Source: Dune Analytics“It’s worth noting that PancakeSwap’s recent volume spike likely stems from renewed retail enthusiasm for BNB memecoins. Unlike other ecosystems where meme-related volume has declined over recent weeks, BNB Chain has seen significant growth in this sector,” said Justin Barlow, head of business development and investments at Sei Foundation.In a written analysis shared with Cointelegraph on March 27, Barlow reviewed CoinGecko data and found that just two BNB memecoins were responsible for roughly 13% of PancakeSwap’s daily trading volume.Related: Insider trading allegations surface as TRUMP memecoin floods Solana DEXsBNB Chain’s reversal of fortuneBNB Chain launched in 2020 as Binance Smart Chain, positioning itself as a low-cost, fast and EVM-compatible alternative to Ethereum at a time when high gas fees and limited layer-1 options made Ethereum less accessible.It quickly attracted developers and users but developed a reputation for scammy projects and faced criticism for centralization. As regulatory pressure on Binance mounted, activity on the chain declined while more decentralized and innovative ecosystems like Ethereum layer 2s and Solana gained momentum.PancakeSwap has become the centerpiece of BNB Chain’s resurgence, sustaining high-volume trading across the network. According to DefiLlama, BNB Chain led all blockchains in DEX volume for eight days during the two-week period starting March 15 — the same stretch in which PancakeSwap dominated the EVM DEX landscape.Binance-linked BNB Chain dominated the second half of March. Source: DefiLlama“DEX volumes are a clear signal of user engagement and interest in DeFi, and sustained activity on a platform like PancakeSwap suggests that retail interest in BNB Chain and its memecoin ecosystem is growing,” Barlow said. A byproduct of DEX volume growth is higher yields for liquidity providers.In addition to DEX volume, BNB Chain recently led the industry in active addresses among EVM networks — and was second only to Solana across all blockchain ecosystems over the past week.Binance-backed growth, memecoin liquidity and BroccoliThe resurgence of BNB Chain is closely linked to the boom in memecoins. In February, BNB Chain published its 2025 tech roadmap, reaffirming its commitment to supporting the memecoin ecosystem. “We are happy to see many of the meme tool providers integrate with BNB Chain. And we will continue to work closely with them in 2025 and beyond,” the announcement said.Just days later, Binance founder Changpeng Zhao posted on X that his dog’s name is Broccoli, a remark that sparked a wave of Broccoli-themed memecoins on BNB Chain. Zhao added that he would not be issuing a memecoin himself but would “likely interact” with a few tokens on the network.Source: Changpeng ZhaoMemecoin activity has been surging ever since. One example came in late March; in a now-viral trade, one trader reportedly invested $232 into the Mubarak memecoin to profit $1.1 million, according to Lookonchain.Savvy trader flips $232 of Mubarak memecoin into $1.1 million. Source: LookonchainBNB Chain has also outpaced competitors in several core DeFi metrics. It recently surpassed both Solana and Ethereum L2s in daily fees generated. To further support the momentum, BNB Chain launched the “BNB Chain Meme Liquidity Support Program” on Feb. 18. The initiative provides $200,000 in permanent liquidity to top-performing memecoins.“Memecoins are absolutely driving the recent activity. You can see it in the sharp increase in the number of newly created tokens and the uptick in smaller trade sizes, which often accompany memecoin speculation. When total value locked remains stable but volume spikes, it’s usually retail trading that’s driving the difference — and right now, that energy is heavily concentrated in BNB Chain’s meme sector,” Rachel Lin, CEO of DEX SynFutures, told Cointelegraph.Related: XRP and Solana race toward the next crypto ETF approvalSolana vs. BNB: Who owns the memecoin crown?Data suggests that Solana’s memecoin sector is cooling off. According to Solscan, token launches dropped to around 26,300 on March 22, the lowest since November. Daily transaction volume also hit a low of under 43 million on March 1, according to Nansen, the lowest figure since November.Solana’s transaction volume is also on a downward trend along with cooling memecoin activity. Source: NansenEven in a downtrend, Solana’s activity levels remain significantly higher than BNB Chain’s. Nansen data shows that Solana’s lowest transaction day still outpaced BNB Chain’s peak of 7.8 million transactions. But momentum appears to be shifting.BNB Chain’s transactions have risen but are still far behind Solana. Source: NansenPump.fun, Solana’s memecoin launchpad, is also seeing signs of fatigue. Fewer than 1% of new tokens meet the platform’s requirements to become tradable. The drop in bonding levels points to a cooling period for Solana’s memecoin market. But this doesn’t necessarily signal a shift in long-term dominance, said Alan Orwick, co-founder of Quai Network. “This pattern reflects the cyclical nature of speculative interest across blockchain ecosystems, which ultimately brings renewed energy to DeFi.”“This rotation appears to be influenced by regional preferences, with increased Asian market participation driving activity on Binance-related platforms,” Orwick said. Lin of SynFutures added that the key difference between Solana and BNB Chain’s momentum is the audience: “Solana has become more native to crypto traders, whereas BNB Chain draws a more global, retail-first crowd. We’re not necessarily seeing one chain dominate long term but rather a rotation of capital and attention depending on user behavior and transaction economics.”The rise of BNB Chain amid Solana’s slowdown highlights the fast-moving, cyclical nature of crypto markets, especially in the memecoin space. While Solana still leads in raw activity, BNB Chain is proving it can capture retail attention and drive meaningful volume when the moment is right. With strong backing from Binance, dedicated liquidity programs and viral meme momentum, BNB Chain has reclaimed relevance in DeFi.Magazine: Memecoins are ded — But Solana ‘100x better’ despite revenue plunge
XRP bulls in ‘denial’ as price trend mirrors previous 75-90% crashes
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 backXRP’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: GlassnodeA 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: TradingViewXRP 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: AnalystsAs 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: TradingViewBack 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.
NFT marketplace X2Y2 shuts down after 3 years, pivots to AI
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 TerminalCharu 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 learningReal-world implementation is keySethi 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 focusThe 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
Dogecoin (DOGE) is underperforming most of the cryptocurrency market today, having fallen over 4% in the last 24 hours to trade at $0.163.DOGE/USD daily price chart. Source: Cointelegraph/TradingViewKey takeaways:Dogecoin price lost 20% between March 27 and March 31.DOGE drops after Elon Musk said the US government has no plans to use Dogecoin.DOGE’s recent downturn mirrors the continued panic across the memecoin sector.Price chart technicals hint at more losses ahead.DOGE falls alongside other memecoinsThe bearish sentiment was not only exclusive to Dogecoin as most other memecoins recorded significant losses across the board.Key takeaways:Shiba Inu (SHIB), the second largest memecoin by market capitalization, was down 4.2% over the last 24 hours to trade at $0.00001206. Ethereum-based Pepe (PEPE) has dropped by 1.7% over the same period.24-hour performance of top-cap memecoins: Source: CoinMarketCapSolana-based Fartcoin (FARTCOIN) posted the most losses among the top-cap memecoins, dropping by 8% on March 31 to exchange hands at $0.4146.The total daily trading volume across the memecoin sector is down by 48% over the last 30 days, indicating the lack of trader interest.Memecoin market capitalization and weekly trading volume. Source: CoinMarketCapThe risk-off mode comes amid increasing negative sentiment fueled by macroeconomic uncertainties tied to President Trump’s trade policies.This has spooked investors, pushing them away from volatile assets like memecoins.US government has “no plans” to use Dogecoin - Elon MuskOne of the most significant catalysts for DOGE’s underperformance today is a statement from Elon Musk, a prominent figure whose influence on Dogecoin’s value is well-known.Related: Elon Musk and crypto: 6 times ‘Dogecoin’s CEO’ rocked marketsWhat you should know:Musk, who leads the Department of Government Efficiency (D.O.G.E.) under the Trump administration, clarified that the US government has “no plans” to integrate Dogecoin into its operations. At a March 30 town hall in Green Bay, Wisconsin, Musk sought to distinguish the federal agency from the leading memecoin despite their shared acronym.“There are no plans for the government to use Dogecoin or anything as far as I know,” he said. “They happen to be similar names, but really, we’re literally just trying to make the government 15% more efficient.”Many had hoped that Musk’s proximity to government policy might lead to official adoption or recognition of the memecoin, especially given his role in a high-profile efficiency initiative. Musk explained that the name originated from suggestions made online. “I was going to call it the Government Efficiency Commission, but that’s a super boring name,” he said.“Then the internet said it needs to be the Department of Government Efficiency. I was like, ‘The internet is right.’”Musk’s clarification effectively punctured a narrative that fueled speculative buying, contributing directly to the downward pressure on DOGE’s price.DOGE price validates bear flag patternDOGE has confirmed a bear flag pattern on the daily chart after closing below the lower boundary of the flag at $0.1773. Key levels to watch:DOGE is currently testing the support level at $0.160 after flipping the flag’s lower trendline into resistance.Key support levels include the $0.1427 range low (reached on March 11) and the range low at $0.1275 (reached on Oct. 25, 2024).A high volume move below these levels could lead to even more downside.The maximum loss target from the pole’s length indicates that DOGE could revisit the $0.0876 zone over the next few days.This would represent another 42% descent from the current level.DOGE/USD daily chart. Source: Cointelegraph/TradingViewThe relative strength index (RSI) has dropped from 52 to 38 since March 26, indicating increasing bearish momentum. “Dogecoin exhibits bearish momentum,” said crypto analyst Andrew Griffiths in a March 31 post on X. “The price is likely to stabilize below the pivot line at 0.1774, paving the way for potential declines to 0.1478 and 0.1283,” the analyst continued, adding:“A daily close below 0.1283 would signal a continued bearish trend toward 0.0850.”DOGE/USD 12-hour chart. Source: Andrew GriffithsThis 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.
Ethereum price down almost 50% since Eric Trump's 'add ETH' endorsement
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 TrumpPresident Trump spoils son’s bullish ETH outlookAs 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: TradingViewMeanwhile, 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: TradingViewA 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 PoppeGold, 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 stashWorld 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 IntelligenceThe 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: EmperorWLFI 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: TradingViewThis 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 reboundBut 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: TradingViewA 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 buys Bitcoin dip with $1.9B purchase
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 SaylorStrategy 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: SaylortrackerStrategy’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 HayesThe 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 LongMicroStrategy may owe taxes on unrealized Bitcoin gainsDespite 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
Japanese firm Metaplanet issues $13.3M in bonds to buy more Bitcoin
Metaplanet — a Japanese firm following in Strategy’s footsteps by focusing on accumulating Bitcoin — issued 2 billion Japanese yen ($13.3 million) of bonds to buy more BTC.According to a March 31 filing, Metaplanet issued the zero-interest bonds by allocating them via its Evo Fund to fuel its Bitcoin purchases. Investors will be allowed to redeem the newly-issued securities at full face value by Sept. 30.The firm’s CEO, Simon Gerovich, wrote in an X post that the company was taking advantage of the recent downturn in Bitcoin prices. The announcement comes as Bitcoin changed hands for about $82,000 at the time of writing, down 25% from its all-time high of over $109,000.Related: Metaplanet share price rises 4,800% as company stacks BTCSource: Simon GerovichMetaplanet is Asia’s top corporate Bitcoin holder and the 10th in the world, according to BitcoinTrasuries data. Currently, the firm owns about 3,200 Bitcoin worth about $1.23 billion.Following in the footsteps of giantsMetaplanet is often called “Asia’s MicroStrategy,” as its corporate plan closely mirrors that of Strategy (formerly MicroStrategy), the US-based market intelligence firm that shifted its primary focus to accumulating Bitcoin (BTC). Metaplanet’s US-based older brother is the top corporate Bitcoin holder with over 500,000 BTC in its coffers, worth nearly $82 billion, more than 2% of the 21 million Bitcoin supply limit.Related: Metaplanet tips first operating profit in 7 years, boosted by BitcoinEarlier this month, Metaplanet purchased 150 Bitcoin, chipping away at its objective of accumulating 21,000 BTC by 2026. At the beginning of March, the firm’s stock jumped 19% in less than a day after it splurged $44 million to add Bitcoin to its coffers.Also, this month, Metaplanet started exploring a potential US listing as the company acquired another 156 BTC. Gerovich said at the time:“We are considering the best way to make Metaplanet shares more accessible to investors around the world.”An increasingly influential companyMetaplanet is making powerful friends in the US political landscape. Earlier in March, the company appointed US President Donald Trump’s son Eric to its newly established strategic board of advisers to further Metaplanet’s mission to become a “global leader in the Bitcoin economy.” Company representatives said at the time:“Eric Trump brings a wealth of experience in real estate, finance, brand development, and strategic business growth and has become a leading voice and advocate of digital asset adoption worldwide.“Magazine: Bitcoin ATH sooner than expected? XRP may drop 40%, and more: Hodler’s Digest, March 23 – 29
