On March 16th, it was reported that Hana Financial Group and Standard Chartered Bank signed a memorandum of understanding to collaborate on digital asset ventures, including cryptocurrencies. With this partnership, both institutions aim to enhance their traditional financial services globally.
Archives: Fast News
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Fed rate decision and Gemini earnings highlight crypto week ahead
The crypto market faces a busy week with the Federal Reserve’s monetary policy decision and Gemini’s earnings report on the agenda. The Fed’s rate announcement will be closely watched for signals on future interest rate direction, which historically impacts risk asset demand including crypto. Gemini’s financial results could provide insights into institutional crypto adoption trends and exchange sector health.
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TRON ecosystem expands with new exchange listings and DeFi activity
The TRON ecosystem continued growing last week with JST and SUN launching on Bitkub exchange on March 9, while SUN also became available through Alchemy Pay for improved accessibility. AINFT surpassed 550K users with its Community Awakening event offering 800 USDT in prizes. On the DeFi side, JustLend DAO distributed rewards for WBTC Supply Mining Activity II and USDD 2.0 Supply Mining Phase XV. BTT staking on BTTC reached an APY of 6.93%, and the AINFT × WINKLink AI Model Arena competition concluded with winners announced.
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MultiversX ecosystem highlights Battle of Nodes launch and validator expansion
MultiversX announced its Battle of Nodes event last week, with major media outlet Cointelegraph joining as a validator. The network’s xExchange DEX integrated the Xoxno NFT aggregator, while xPortal reached 2.5M users with 100k staking EGLD tokens. MultiversX reported 9.17M total accounts and 593M transactions on the network, with 14.3M EGLD in active staking. xExchange currently holds 4.38M USD in TVL with 1.1M USD in 7-day trading volume.
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Pendle launches limit order incentives for stablecoin pools
Pendle has activated limit order incentives for four stablecoin pools: savUSD, apyUSD, reUSD, and sNUSD. Users placing limit orders in these incentivized markets can earn up to 100% APR on their orders. The protocol is offering three-digit APR rewards across eligible participants.
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US gold reserves hit lowest ratio to federal debt on record
US gold reserves now represent just 3% of federal debt, marking one of the lowest readings on record. Despite holding 8,133.5 metric tons of gold—the world’s largest stockpile—the ratio reflects the significant growth in government debt relative to hard asset backing. This metric is watched by economists as an indicator of fiscal sustainability and monetary backing.
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Hana Financial Group and Standard Chartered explore digital asset partnership
South Korea’s Hana Financial Group and Standard Chartered announced plans to explore joint initiatives in digital assets, including stablecoins. The partnership aims to develop capabilities in the emerging digital asset space, combining expertise from both financial institutions. Details on specific timelines and project scope have not yet been disclosed.
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Bitcoin and altcoins open the week with gains as analysts track key levels
Bitcoin and major altcoins started the new week with gains Monday. Analysts are monitoring several key price levels for BTC this week as they assess potential volatility and support zones. Market participants remain focused on technical levels that could influence momentum in coming trading sessions.
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Market Bulletin #1
Total crypto market cap stands at $2.51T with 24-hour volume of $97.91B. Bitcoin dominance at 58.69% and Ethereum at 10.87%.
BTC trading at $73.7K, up 3.00% in 24 hours and 9.66% over 7 days. ETH at $2.3K, gaining 7.28% daily and 14.48% weekly.
Top gainers: FET +12.66%, DOT +11.82%, ADA +9.54%. Losers include DEXE -5.78%, KITE -3.35%, PAXG -0.31%.
Long/short positioning shows mixed sentiment: BTC at 0.99 ratio (49.7% long, 50.3% short), ETH at 0.95 (48.8% long, 51.2% short). SOL notably bullish at 1.70 ratio with 63% long positioning.
Options data from Deribit: BTC put/call 0.67 with 63.8% IV; ETH put/call 0.57 with 89.1% IV. DeFi sector note: Babylon Protocol TVL declined 23.1% to $1.8B.
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Erik Voorhees acquires significant altcoin position
Erik Voorhees, a prominent cryptocurrency entrepreneur and ShapeShift founder, has made a notable purchase of THE token. The acquisition details remain limited based on available information. Voorhees has a long history of strategic investments in the crypto sector and is known for backing projects he believes have fundamental value.