XRP ETF ‘obvious’ as Polymarket bettors up approval odds to 85%
Crypto community members are growing more optimistic about an XRP exchange-traded fund (ETF) approval following the resolution of a multi-year legal battle between Ripple and the United States Securities and Exchange Commission (SEC). On March 19, Ripple CEO Brad Garlinghouse announced the case had concluded. In an X post, the Ripple executive said the SEC will drop its appeal against Ripple, ending the $1.3 billion unregistered securities suit that started in December 2020. Following the development, Nate Geraci, president of the advisory firm ETF Store, said on X that the approval of an XRP (XRP) ETF is next. Geraci said it was “obvious” that it’s only a “matter of time” before the SEC approves an XRP ETF. The executive predicted that asset managers like BlackRock and Fidelity would be involved in offering the asset. Polymarket punters give 86% odds to XRP ETF approval in 2025Aside from Geraci, users on the crypto betting platform Polymarket also expect approval for an XRP ETF in 2025. On March 26, Polymarket gave an 86% chance that an XRP-based ETF product would be approved this year. The bet will resolve if an XRP ETF receives approval from the SEC by Dec. 31. At the time of writing, the betting market had a volume of $55,000. Polymarket shows an 86% chance that a Ripple ETF will be approved in 2025. Source: PolymarketHowever, users only give a 42% chance that an XRP ETF will be approved before July 31.Despite being a gambling site, Polymarket users’ predictions have historically been very accurate. A Dune Analytics dashboard studying the accuracy of Polymarket bets showed that the platform had been accurate by over 90% a month before betting markets were resolved. Related: SEC plans 4 more crypto roundtables on trading, custody, tokenization, DeFiXRP price only surged by 5% as the SEC battle endsDespite being a huge milestone, the end of the multi-year legal battle between Ripple and the SEC failed to move the markets significantly. On March 19, XRP traded at $2.32, according to CoinGecko. At the time of writing, the asset hovers at around $2.44, a 5% increase. On March 21, analysts said the new development had already been priced in. Nicolai Sondergaard, research analyst at Nansen, previously told Cointelegraph that the resolution had been widely expected. Magazine: Memecoins are ded — But Solana ‘100x better’ despite revenue plunge
KYC Uniswap integration deployed by PureFi, but not everyone is convinced
Zero-knowledge proof (ZK-proof)-based compliance protocol PureFi has launched its Know Your Customer (KYC) and Anti-Money Laundering (AML) integration for the Uniswap decentralized exchange (DEX).According to a recent announcement shared with Cointelegraph, PureFi claims that its ZK-proof-based KYC and AML integration for Uniswap helps address security and compliance concerns at the protocol level. While the integration can be implemented as part of any Uniswap v4 pool, it was deployed as part of the PureFi DEX Uniswap implementation, replacing standard interfaces with custom compliance routers.The new decentralized finance (DeFi) platform also introduces level-based verification that scales checks based on transaction volume. Checks go from basic identity and sanctions verification at low volumes to comprehensive KYC with risk-based wallet scoring and real-time monitoring at high volumes.Related: Know Your Peer: The pros and cons of KYCNot everyone is on boardHedi Navazan, the chief compliance officer at DEX aggregator developer 1inch Labs, told Cointelegraph that “relying on transaction volume thresholds for progressive compliance enforcement is not, in my view, the right approach.” She shared concerns that such thresholds “fail to capture the broader, more complex risk profile that DeFi and financial ecosystems demand.” She explained:“Risk assessment should be holistic, considering a variety of factors, not just a singular indicator like transaction volume.”PureFi CEO Slava Demchuk said that compliance is usually implemented on the front-end (the user interface) and not in the underlying smart contracts on the back-end. The implementation leaves protocols “vulnerable to interface bypass” by bad actors interacting with smart contracts directly. He explained the advantages of the latest PureFi implementation:“Through the Uniswap v4 hook, we address a long-standing industry-wide blind spot. DeFi needs a middle ground to preserve privacy but align with regulatory standards.”PureFi Uniswap v4 Hook Infographic. Source: PureFiSo far, the exchange is fully operational for the UFI/BNB trading pair; this implementation is meant to be a blueprint on which to build. The modular design allows offchain updates to compliance rules, centralizing the part that must be changed as regulations evolve to allow easier adaptation.Related: Abracadabra.Money’s GMX pools hacked, $13M lostDeFi’s long battle with complianceNavazan said, “In DeFi, we need a more tailored approach.” According to her, solutions developed for centralized finance are not suitable for its decentralized counterpart due to different priorities:“Mechanisms that function in centralized finance do not work in the decentralized space, which prioritizes privacy and autonomy,” she added.Navazan explained that this contrast is “a critical aspect for the crypto and DeFi compliance issue.” She raised concerns that while mixers and privacy coins are on regulators’ watchlists, the use of ZK-proofs might help:“If zero-knowledge proofs can provide compliant-friendly privacy, regulators might be more likely to allow for privacy-preserving financial instruments.”She further highlighted that regulatory adoption is “the biggest challenge so far” for DeFi, with regulators equating “financial transparency to seeing every transaction and identity.” She noted that ZK-proofs changed that model and asked if regulators would adopt proofs instead of raw data.ZK-proofs are a family of advanced cryptographic protocols that allow mathematically proving an aspect of some piece of data without revealing the underlying data. For example, they can show that an entity is not sanctioned and is allowed to use a financial service — without providing the full documentation and private data and while remaining anonymous.A correct ZK-proof implementation ensures that no additional data is leaked beyond the fact that the proven claim is valid. Those proofs are also efficient data-wise since they can be significantly smaller than the considered data, making them better suited for onchain storage if necessary, as happens with ZK-rollups.Magazine: DeFi will rise again after memecoins die down: Sasha Ivanov, X Hall of Flame
Bitcoin must break this level to resume bull market as $2.4B in BTC leaves exchanges
Over 27,740 Bitcoin (BTC) worth $2.4 billion were withdrawn from exchanges on March 25, the highest daily outflow since July 31, 2024. Meanwhile, US spot Bitcoin exchange-traded funds (ETFs) continue their inflow streak, suggesting that institutional demand is making a comeback. Is the Bitcoin bull run about to resume? Bitcoin exchange outflows hit 7-month highBitcoin is making another attempt at a technical breakout above $90,000 as supply on exchanges continues to decrease. Bitcoin: Net flow to exchanges. Source: GlassnodeA closer look at the data reveals that a considerable chunk of these withdrawals was made by whales, or entities holding at least 1,000 BTC, who withdrew more than 11,574 BTC worth about $1 billion from exchanges on March 25.Bitcoin whale withdrawal from exchanges. Source: GlassnodeHigh Bitcoin outflows from exchanges and whale withdrawals, in particular, reduce sell pressure, often signaling accumulation and bullish sentiment, which can drive prices up.Related: Bitcoin, Ethereum to end Q1 in the red, ‘vertical swing up’ unlikelyAdditionally, blockchain analytics firm Arkham Intelligence noted that a “billionaire Bitcoin whale” added 2,400 BTC worth over $200 million on March 24. Despite some selling in February, the whale now holds over 15,000 BTC.The whale started acquiring Bitcoin five days ago after selling when Bitcoin’s price was between $100,000 and $86,000 in February. This may suggest that such large investors saw the recent lows as a buying opportunity in anticipation of higher prices. Spot Bitcoin ETF flows take a “positive turn”Another sign of major investors buying BTC again is the continuation of capital flows into spot Bitcoin exchange-traded funds (ETFs) since March 14. Spot Bitcoin ETFs have seen inflows for eight straight days, totaling $896.6 million.“ETF’s have taken a positive turn since March 14th, and so has $BTC and altcoins,” said market data provider Santiment. “This is the first streak of this length in 2025.”💸📈 ETF’s have taken a positive turn since March 14th, and so has $BTC and altcoins. There have now been seven straight days with more money moving in to Bitcoin ETF’s (positive inflow) than moving out (negative inflow). This is the first streak of this length in 2025. pic.twitter.com/9V1LNQ95uX— Santiment (@santimentfeed) March 26, 2025As Cointelegraph reported, digital asset investment products have also recorded weekly net inflows for the first time in five weeks. BTC price eyes key trend line to resume bull marketData from Cointelegraph Markets Pro and TradingView showed the BTC/USD trading at $88,265, up 1.2% over the last 24 hours. BTC price faces overhead resistance from the 20-weekly exponential moving average (EMA), currently at $88,682.Bitcoin price must flip this level into support to continue the bull run. The chart below shows that breaching the 20-weekly EMA has often preceded big rallies in Bitcoin price. BTC/USD weekly chart. Source: Cointelegraph/TradingViewNote that when BTC price crossed above this moving average in October 2023, it rallied about 170% from $27,000 on Oct. 16, 2023, to set a new all-time high above $73,000 on March 14, 2024.Similar price action occurred when the price rose above the 20-weekly EMA in September 2024, preceding a 77% rally from $60,000 to $108,000 in December 2024.Analyst Decode stressed the importance of this trendline, saying that the moving average is the “most important level right now for Bitcoin.”Meanwhile, co-founder of trading resource Material Indicators, Keith Alan, said that Bitcoin has to reclaim the 2025 yearly open at around $93,300 to confirm a path toward all-time highs.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.
Solana's ‘early stage bull market’ hints at 65% SOL price gains by April
Solana (SOL) price looks ready to rise in April based on a classic bullish reversal indicator and signs of renewed appetite for memecoins.Technicals show 65% SOL price rally in playAs of March 26, SOL’s price had entered the breakout stage of what appears to be a falling wedge pattern.A falling wedge forms when the price consolidates inside a range defined by two converging, descending trendlines. Meanwhile, the pattern resolves when the price breaks above the upper trendline.SOL/USD daily price chart. Source: TradingViewSolana broke above the upper trendline of its falling wedge pattern on March 19 and has since maintained bullish momentum. The breakout has held strong, with SOL continuing to climb in the days that followed. With the pattern confirmed, the SOL/USD pair is now eyeing $235, a target obtained by adding the wedge’s maximum height to the breakout level by April.Source: @THEFLASHTRADINGThe breakout is supported by improving momentum indicators. Solana’s relative strength index (RSI) has moved above the neutral 50 level, suggesting strengthening buying pressure. A move above the 50-day exponential moving average (50-day EMA; the red wave) at $154 could further validate the breakout. However, if SOL retreats from the EMA resistance, then the bullish reversal would be at risk of invalidation.Solana memecoin sector is in recoveryBeyond the charts, Solana’s onchain activity is seeing a fresh wave of memecoin enthusiasm. Over 8 million tokens have been launched on Solana, and recent daily deployments have rebounded sharply.Notably, Solana-based memecoin launchpad Pump.fun witnessed the launch of over 34,000 projects on March 24, compared to around 20,190 launches at the month’s beginning, the lowest daily count since November 2024.Total projects deployed via Pump.Fun. Source: Dune AnalyticsThe spike in memecoin launches mirrors the recovery witnessed in December 2024, right after a month-long cooling period.SOL/USD daily price chart. Source: TradingViewThe surge in memecoin deployments points to renewed demand and increased network activity — a trend that has historically preceded SOL price rallies. Solana price rose by over 68% when Pump.fun activity saw a similar recovery last time. Related: BlackRock’s BUIDL expands to Solana as tokenized money market fund nears $2BThis momentum is also reflected in the strong performance of top Solana-based memecoins, many of which have posted impressive returns in recent days. That includes Official Trump (TRUMP) and Bonk (BONK).Top Solana memecoins and their performances as of March 26. Source: CoinGeckoSolana’s memecoin frenzy popped over the weekend when President Donald Trump made a social media post explicitly mentioning the TRUMP memecoin. His endorsement sparked fresh buzz across the sector.Adding to the bullish tailwinds, Pump.fun’s newly launched decentralized exchange (DEX) has crossed $1 billion in cumulative trading volume since its debut on March 19. The launch has driven even more activity to the Solana network, helping push SOL’s price up over 15% in the process.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.
Google Play blocks access to 17 unregistered exchanges in South Korea
Google Play implemented access restrictions to 17 unregistered overseas crypto exchanges catering to local users in South Korea at the request of the country’s regulators. On March 21, the Financial Intelligence Unit (FIU) of the South Korean Financial Services Commission (FSC) said it was considering sanctions against operators that did not report to the relevant authorities. Authorities require virtual asset service providers (VASPs) to report to regulators under the country’s Specified Financial Information Act. At the time, the FIU said it was coordinating with the Korea Communications Standards Commission (KCSC), the regulator in charge of the internet, on how they could block access to the exchanges. By March 26, the FSC published a list of 22 unregistered platforms, highlighting 17 that had been blocked from the Google Play store. The move restricts new downloads and updates for affected apps, effectively limiting user access.A list of 22 overseas operators, highlighting the 17 blocked exchanges. Source: FSCGoogle Play restricts access to 17 unregistered exchangesThe FSC said the 17 exchanges highlighted on the list were now restricted in the Google Play Store. This means their applications will not be available for new users to download and install. In addition, existing users will be unable to access updates from the apps. Exchanges in the access restriction list include: KuCoin, MEXC, Phemex, XT.com, Biture, CoinW, CoinEX, ZoomEX, Poloniex, BTCC, DigiFinex, Pionex, Blofin, Apex Pro, CoinCatch, WEEX and BitMart.The FSC expects the move to help prevent money laundering acts using crypto assets and potential future damages to local users. The FIU said it is also coordinating with Apple Korea and the KCSC to block internet and App Store access to the exchange platforms. KuCoin previously told Cointelegraph that it was monitoring regulatory developments in all jurisdictions, including South Korea. The exchange said compliance was essential for crypto’s sustainable growth. However, the exchange did not provide detailed information on its plans for South Korea. Related: Wemix denies cover-up amid delayed $6.2M bridge hack announcementSouth Korean exchanges face controversiesSouth Korean regulators’ actions against unregistered exchanges follow the country’s increased scrutiny of crypto trading platforms. On March 20, Seoul’s Southern District Prosecutors’ Office raided Bithumb offices in the country, as prosecutors suspected financial misconduct involving the exchange’s former CEO. Prosecutors suspected Bithumb board member Kim Dae-sik of using company funds to purchase a personal apartment. In addition, a Wu Blockchain report of intermediaries being paid to list token projects on Bithumb and Upbit surfaced. In response to the report, Upbit demanded the release of the identities of crypto projects that claimed to have paid intermediaries to be listed. Magazine: Ridiculous ‘Chinese Mint’ crypto scam, Japan dives into stablecoins: Asia Express
Polymarket faces scrutiny over $7M Ukraine mineral deal bet
Polymarket, the world’s largest decentralized prediction market, is under fire after a controversial outcome raised concerns over potential governance manipulation in a high-stakes political bet.A betting market on the platform asked whether US President Donald Trump would accept a rare earth mineral deal with Ukraine before April. Despite no such event occurring, the market was settled as “Yes,” triggering a backlash from users and industry observers.This may point to a “governance attack” in which a whale from the UMA Protocol “used his voting power to manipulate the oracle, allowing the market to settle false results and successfully profit,” according to crypto threat researcher Vladimir S.“The tycoon cast 5 million tokens through three accounts, accounting for 25% of the total votes. Polymarket is committed to preventing this from happening again,” he wrote in a March 26 X post.Source: Vladimir S.Polymarket employs UMA Protocol’s blockchain oracles for external data to settle market outcomes and verify real-world events.Polymarket data shows the market amassed more than $7 million in trading volume before settling on March 25.Source: PolymarketStill, not everyone agrees that it was a coordinated attack. A pseudonymous Polymarket user, Tenadome, argued that the outcome was the result of negligence.“There is no ‘tycoon’ who ‘manipulated the oracle,’ Tenadome wrote in a March 26 X post, adding:“The voters that decided this outcome are the same UMA whales who vote in every dispute, who (1) are largely affiliated with/on the UMA team and (2) do not trade on Polymarket, and they just chose to ignore the clarification to get their rewards and avoid being slashed.”Related: Polymarket whale raises Trump odds, sparking manipulation concernsPolymarket won’t issue a refundDespite user frustration, Polymarket moderators said no refunds would be issued.“We are aware of the situation regarding the Ukraine Rare Earth Market. This market resolved against the expectations of our users and our clarification,” Polymarket moderator Tanner said, adding:“Unfortunately, because this wasn’t a market failure, we are not able to issue refunds.”Source: Vladimir S.Polymarket said it will build new monitoring systems to ensure this “unprecedented situation” does not occur again.Related: eToro trading platform publicly files for US IPOUS elections fuel 565% prediction markets risePrediction markets saw significant growth in the third quarter of 2024, driven by bets on the United States presidential election.Top three crypto prediction markets. Source: CoinGeckoThe betting volume on prediction markets rose over 565% in Q3 to reach $3.1 billion across the three largest markets, up from just $463.3 million in the second quarter.Polymarket, the most prominent such decentralized platform, dominated the market with over a 99% share as of September.Magazine: Memecoins are ded — But Solana ‘100x better’ despite revenue plunge
Ethereum devs prepare final Pectra test before mainnet launch
Ethereum developers are under pressure as the Pectra upgrade rolls out to a new testnet following several unexpected issues that have delayed its deployment to the mainnet.The Pectra upgrade, which was expected to hit the Ethereum mainnet in March, was deployed into the network’s Holesky testnet on Feb. 24. However, the upgrade failed to finalize on the network, prompting developers to investigate and address the causes. On March 5, the update was rolled out to the Sepolia testnet. However, developers again encountered errors, which were made worse by an unknown attacker who used an “edge case” to cause the mining of empty blocks. To better prepare for the upgrade, Ethereum core developers created a new testnet called “Hoodi.” Ethereum developers “exhausted” from Pectra preparationsHoodi was launched on March 17, and the Pectra upgrade will roll out on Hoodi on March 26. If the upgrade runs smoothly, Pectra may hit the mainnet as early as April 25. In an interview with Cointelegraph’s Felix Ng, Ethereum Foundation’s protocol support team member Nixo Rokish said developers have been through a lot while preparing for the Pectra upgrade. Rokish told Cointelegraph: “I think that people are nervous because we just had two testnets in a row basically have really unexpected issues that were not fundamentally related to how it would have gone on mainnet.”Rokish added that exhaustion is setting in, especially for the consensus layer developers, as Hoodi marks the third attempt to test Pectra.“I think the consensus layer devs especially, but also like somewhat the execution layer devs are exhausted right now,” Rokish told Cointelegraph. Related: Ethereum devs agree to stop forking around and accelerate the roadmapEthereum devs solved what needed to be solvedAccording to Rokish, the Holesky testnet failed in part because it had never been tested with such a small validator set on the canonical chain.“As decentralized as Holesky is, it has never been tested at so few validators on the canonical chain,” she said. When about 10% was left on the canonical chain, the validators overloaded their RAM and memory as they kept the state for 90% of validators on the non-canonical chain. Rokish said they had never seen this before. “And so the consensus layer devs all of a sudden had this problem where they had to change a bunch of things, and I think that that was really tiring for them,” she said. Despite the recent testnet challenges, Ethereum’s broader development continues to show progress.On March 13, 2024, the network rolled out the Dencun upgrade, which implemented many changes in the blockchain. High gas fees, which were once a huge problem for the network, have become a thing of the past. A year after its Dencun upgrade, Ethereum’s gas fees dropped by 95%. On March 23, average gas prices reached historic lows of 0.28 gwei.Magazine: What are native rollups? Full guide to Ethereum’s latest innovation
Fidelity plans stablecoin launch after SOL ETF ‘regulatory litmus test’
Fidelity Investments is reportedly in the final stages of testing a US dollar-pegged stablecoin, signaling the firm’s latest push into digital assets amid a more favorable crypto regulatory climate under the Trump administration.The $5.8 trillion asset manager plans to launch the stablecoin through its cryptocurrency division, Fidelity Digital Assets, according to a March 25 report by the Financial Times citing anonymous sources familiar with the matter.The stablecoin development is reportedly part of the asset manager’s wider push into crypto-based services. Fidelity is also launching an Ethereum-based “OnChain” share class for its US dollar money market fund.Fidelity’s March 21 filing with the US securities regulator stated the OnChain share class would help track transactions of the Fidelity Treasury Digital Fund (FYHXX), an $80 million fund consisting almost entirely of US Treasury bills.While the OnChain share class filing is pending regulatory approval, it is expected to take effect on May 30, Fidelity said.Fidelity’s filing to register a tokenized version of the Fidelity Treasury Digital Fund. Source: Securities and Exchange CommissionIncreasingly more US financial institutions are launching cryptocurrency-based offerings after President Donald Trump’s election signaled a shift in policy.Custodia and Vantage Bank have launched “America’s first-ever bank-issued stablecoin” on the permissionless Ethereum blockchain, which will act as a “real dollar” and not a “synthetic” dollar, as Federal Reserve Board Governor Christopher Waller called stablecoins in a Feb. 12 speech.Source: Caitlin LongTrump previously signaled that his administration intends to make crypto policy a national priority and the US a global hub for blockchain innovation.Related: Trump turned crypto from ‘oppressed industry’ to ‘centerpiece’ of US strategyFidelity’s spot SOL application is “regulatory litmus test”Fidelity’s stablecoin push comes a day after Cboe BZX Exchange, a US securities exchange, requested permission to list a proposed Fidelity exchange-traded fund (ETF) holding Solana (SOL), according to March 25 filings. The filing may provide insights about the SEC’s regulatory attitude toward Solana ETFs, according to Lingling Jiang, partner at DWF Labs crypto venture capital firm.“This filing is also more than just a product proposal — it’s a regulatory litmus test,” Jiang told Cointelegraph, adding:“If approved, it would signal a maturing posture from the SEC that recognizes functional differentiation across blockchains.”“It would accelerate the development of compliant financial products tied to next-gen assets — and for market makers, that means more instruments, more pairs, and ultimately, more velocity in the system,” Jiang added. Related: SEC dropping XRP case was ‘priced in’ since Trump’s election: AnalystsMeanwhile, crypto industry participants are awaiting US stablecoin legislation, which may come in the next two months.The GENIUS Act, an acronym for Guiding and Establishing National Innovation for US Stablecoins, would establish collateralization guidelines for stablecoin issuers while requiring full compliance with Anti-Money Laundering laws.A positive sign for the industry is that the stablecoin bill may be on the president’s desk in the next two months, according to Bo Hines, the executive director of the president’s Council of Advisers on Digital Assets.Magazine: SEC’s U-turn on crypto leaves key questions unanswered