The USDC Treasury recently minted 250 million USDC tokens on the Solana blockchain. This action is equivalent to approximately 250 million USD.
Archives: Fast News
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Gold ETFs increase holdings in February amid price pullback
Gold exchange-traded funds continued to accumulate holdings during February, according to recent data. The inflows occurred despite a price correction in the gold market during the period. The ongoing demand from ETF investors reflects sustained interest in gold as a portfolio allocation, even as spot prices experienced near-term weakness.
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Bitcoin sellers emerge after rally to $74,000 as traders take profits
Bitcoin experienced a sharp rally to $74,000 but quickly reversed as short-term holders moved to lock in gains. The selling pressure from profit-taking has since pulled the price back toward $68,700. Data indicates the move higher triggered significant selling interest from traders looking to exit positions established at lower levels.
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Machi adds 210,000 USDC to HyperLiquid to boost his ETH long position
On March 6th, Machi deposited 210,000 USDC into HyperLiquid, raising his leveraged long ETH position to a maximum of 25 times. Earlier, he closed most of his positions due to market declines, leading to a cumulative loss over 29.7 million USD.
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21Shares US launches Polkadot ETF for institutional investors
21Shares US has launched a Polkadot ETF ticker TDOT, expanding institutional access to DOT through traditional banking and brokerage channels. The fund allows investors to gain DOT exposure without directly holding the token, similar to spot Bitcoin and Ethereum ETFs that opened crypto markets to mainstream financial institutions. This development potentially broadens the investor base for Polkadot beyond retail traders.
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Bitcoin price nears 68,176 USD after weak US job data
Bitcoin fell to approximately 68,176 USD after reaching a peak of 74,000 USD. This drop was primarily due to weaker than expected US labor data, which showed a loss of 92,000 jobs in February.
The adverse employment data led to declines in both crypto and stock markets, with major indices down by around 1.5% and 1.3%. Despite this, expectations for interest rate cuts remain muted.
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Culper Research shorts Ethereum over ‘death spiral’ concerns
Culper Research has announced a short position on Ethereum, citing concerns about network fundamentals. The research firm alleges that wallet and transaction growth is driven by dust transfers rather than organic usage, while claiming transaction fees have declined significantly. Additionally, the report notes that Vitalik Buterin sold over 19,000 ETH. ETH is currently trading at $1,983.31.
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Cango Bitcoin Miner reduces mining capacity by 30%
Cango Bitcoin miner has temporarily reduced its mining capacity by 30%, dropping the average hashrate to 34.55 EH/s. This strategic decision aims to address declining mining profitability and to enhance the efficiency of their equipment.
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The growth of stablecoins, positive job data, and Bitcoin’s movement beyond hedging strategies
The recent growth in stablecoin volumes signals a potential re-entry of sidelined capital into crypto, away from mere speculation. The crypto market demonstrates increased transaction volumes and net inflows, intensifying interest in substantial investment.
Despite geopolitical uncertainties, positive job data may enhance the crypto landscape. Analysts believe that while Bitcoin’s recent fluctuations may seem short-lived, sustained momentum in stablecoins could signify a shift towards genuine long-term trends.
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Employment data weakens as Fed outlook grows uncertain, pressuring risk assets
The U.S. employment market showed signs of weakening on Friday while inflation concerns persist, complicating the Federal Reserve’s policy outlook. Softer labor data typically reduces expectations for aggressive rate hikes, but concurrent inflation pressures create conflicting signals for monetary policy direction. Risk assets including cryptocurrencies and equities faced selling pressure as investors reassess the macroeconomic landscape.