Bitcoin mining supplier Auradine sees opportunity in Trump policies
US President Donald Trump’s trade war with China and efforts to ramp up on-shore Bitcoin mining will be a boon for US mining rig manufacturers, which currently only hold a small sliver of market share compared to their major Chinese counterparts. The United States accounts for over 40% of the Bitcoin network’s global hashrate but still leans heavily on China-made mining rigs. China-based Bitmain reportedly holds as much as a 90% market share in the Bitcoin mining manufacturing market. “Trump’s continued focus to support the US BTC mining industry highlights the urgent need to address US reliance on foreign technology,” Auradine’s chief strategy officer, Sanjay Gupta, told Cointelegraph in a recent interview. US Bitcoin firms hit a major supply problem last year, with thousands of Bitcoin (BTC) miners held at ports of entry by the US Customs and Border Protection. One of the firms affected believed it was due to a mistaken belief that the chips were illegally imported Chinese radio frequency devices. It took months before they started being released. Gupta said that US-China trade tensions have also disrupted the flow of foreign Bitcoin miners. “These trade tensions have increased supply chain disruptions with many hardware shipments facing delays and uncertainties,” Gupta said.The US was already competing with China to win the high-end chip manufacturing market, but the recent trade tensions have only “intensified” these challenges for US-based crypto miners, he added. China-based Bitmain is said to hold the majority of the Bitcoin mining manufacturing market. It expanded its production line into the US last December to improve supply chain efficiency.Gupta said his firm could also stand well-positioned amid Trump’s plan to ramp up onshore manufacturing as a “dramatic increase in demand” for electricity would, in turn, “put a tremendous deal of pressure on the electric grid” — making it more important for Bitcoin miners to operate off-grid. Auradine recently announced the launch of its new Teraflux AH3880 hydro-cooled Bitcoin miner, competing with the likes of Bitmain, MicroBT and Canaan.Related: Bitcoin mining hashprice stays flat despite higher difficulty: ReportAsked whether a further uptick in Bitcoin mining activity in the US could hurt Bitcoin decentralization, Gupta said that securing the Bitcoin network with more energy-efficient solutions in the US would be a “net positive” for Bitcoin but said there could be risks if the increase outpaces technology in sustainability and decentralization. Over 95% of the network’s hash power already comes from the US and China alone, according to the Hashrate Index.Magazine: Korea to lift corporate crypto ban, beware crypto mining HDs: Asia Express
Pump.fun’s new DEX reaches $1B volume a week after launch
Memecoin launchpad Pump.fun’s new decentralized exchange (DEX), PumpSwap, surpassed a cumulative trading volume of $1 billion a week after its launch, according to blockchain analytics platform Dune.On March 19, Pump.fun launched its Solana DEX to create a “frictionless environment” for memecoin trading. Previously, memecoins launched on Pump.fun needed to migrate into the Solana DEX Raydium after bootstrapping liquidity, despite which the trading platform became the most popular DEX in Solana. Still, the Pump.fun team said these migrations slowed token momentum and introduced “needless complexity” for new users. With the new DEX, the project said migrations happen instantly and are free. A Dune Analytics dashboard by onchain analyst Adam_Tehc showed that PumpSwap had an all-time trading volume of $1.1 billion in its first seven days. PumpSwap DEX lifetime trading volume reaches. Source: Dune AnalyticsPumpSwap exceeds $1.1 billion in trading volume During its first day, the platform had a modest trading volume of about $50 million. On March 24, the volume spiked eight times, recording over $425 million in trading volume. Daily swaps on the platform peaked on March 24, recording 4.2 million transactions. The DEX’s cumulative number of swaps surpassed 11 million, while the number of active users has reached over 388,000, according to the data. The data also showed that the fees on the PumpSwap protocol exceeded $2.1 million, while liquidity provider fees exceeded $540,000. According to the Dune Dashboard’s creator, PumpSwap’s $1 million daily fees generated on March 24 were already “on par” with Pump.fun. Source: Adam_tehcPumpSwap’s launch follows news that Raydium plans to create its own memecoin launchpad, LaunchLab. The latest movements within the ecosystem shift the dynamics between Pump.fun and Raydium, turning the two Solana projects from partners into competitors. Related: Dubai regulator says memecoins must adhere to regulationsPump.fun launches DEX amid memecoin declinePump.fun launching the new business comes as the Solana memecoin frenzy has begun to lose steam. Solscan data shows that Solana’s daily token-minting peaked at 95,578 on Jan. 26. Since then, the daily mints have declined, bottoming at 26,298 mints on March 22. Successful new listings from tokens created at Pump.fun have also declined. Dune Analytics data showed that the daily number of tokens completing Pump.fun’s “bonding curve,” a requirement for DEX listing, had dropped from highs of almost 1,200 on Jan. 23 and 24 to 149 on March 20. The memecoin decline also affected Solana’s weekly revenue. On March 11, the network’s weekly revenue dropped to $4 million from its high of $55.3 million in mid-January, at the height of the memecoin frenzy. This represents a 93% drop in the blockchain’s total weekly revenue. Magazine: Memecoins are ded — But Solana ‘100x better’ despite revenue plunge
Tokenized real estate trading platform launches on Polygon
Real-world asset (RWA) tokenization platform DigitShares is bringing tokenized real estate trading to Polygon with the launch of RealEstate.Exchange, also known as REX.According to a March 25 announcement, REX is designed to offer retail investors a compliant venue for fractional property investments in a secondary market, potentially addressing the industry’s existing liquidity constraints. As Cointelegraph explained, secondary RWA trading platforms provide liquid off-ramps for investors looking to cash out of their holdings. The REX platform will launch with two luxury property listings in Miami, Florida, including The Legacy Hotel & Residences, a 529-unit tower managed by real estate investment platform FraXion, and a 38-unit residential complex managed by Trade Estate. A street view of The Legacy Hotel & Residences in Miami, Florida. Source: Google MapsDigiShares CEO Claus Skaaning told Cointelegraph that REX intends to support “various property types, including residential, commercial and luxury real estate.” In addition to the two Miami properties, REX has “5-6 additional properties in the pipeline,” said Skaaning.Polygon’s proof-of-stake blockchain was selected due to its low transaction costs, fast settlement times and robust security, the company said. Polygon is the 13th-largest blockchain based on 24-hour trading volume, according to CoinGecko. REX is licensed in the United States through Texture Capital, a registered broker-dealer with the Securities and Exchange Commission. The platform is participating in an EU blockchain sandbox as it seeks registration under the Markets in Crypto-Assets (MiCA) and Markets in Financial Instruments Directive (MiFID) frameworks. According to the announcement, REX is also eyeing registrations in South Africa and the United Arab Emirates. REX’s parent company, DigiShares, has facilitated between $100 million and $200 million in tokenized real estate assets since 2018.DigiShares is one of several companies vying for a piece of the tokenized real estate market. In February, Blocksquare introduced a real estate tokenization framework in the EU, which would allow property owners to tokenize economic rights tied to property.The United Arab Emirates has also emerged as a hotbed for tokenized real estate, with Mantra Finance securing a license to expand RWA services in Dubai.Related: Tokenization can transform real estate investing — Polygon CEORWA market gaining tractionThe RWA tokenization market, which extends beyond real estate to include traditional financial assets, art and intellectual property, has reached a cumulative $62 billion, according to data from Security Token Market (STM). The market capitalization of tokenized assets continues to grow. Source: STMSTM data currently tracks 595 real estate tokens, which represent the largest number of active tokens by asset class but are much smaller than debt and equity tokens in terms of monetary value. Although real estate tokenization remains in its early days, Mantra co-founder and CEO John Patrick Mullin told Cointelegraph that the industry could be worth trillions in the near future. “If you’re looking at the base ecosystem right now, it’s still a drop in the ocean compared to where we expect this to go in the mid-to long term. It’s in the tens of billions. We’re expecting this to go into potentially trillions of dollars of assets onchain,” he said.Magazine: Block by block: Blockchain technology is transforming the real estate market
Friday’s PCE inflation report may catalyze a Bitcoin April rally
Traditional and cryptocurrency investors are eagerly awaiting Friday’s upcoming Personal Consumption Expenditures (PCE) release, which may provide more relief to inflation-related concerns and bring more investor appetite to risk assets including Bitcoin.The US Bureau of Economic Analysis (BEA) is set to release the next PCE report on March 28, which measures the inflation in the prices that US consumers are paying for goods and services.The PCE inflation print may become the “next key catalyst” for Bitcoin (BTC) and other risk assets, according to QCP Group, a Singapore-based digital asset firm.QCP wrote on Telegram:“As we approach Friday’s quarterly expiry, with the highest open interest in topside strikes above $100K, we don’t expect major volatility driven by options positioning alone. But attention will turn to the PCE inflation print, which could become the next key catalyst.”Risk assets staged a significant recovery after “Trump signaled twice on Monday that trading partners might secure exemptions or reductions, offering a reprieve that helped soothe market jitters,” QCP added.Related: Michael Saylor’s Strategy surpasses 500,000 Bitcoin with latest purchaseOther analysts have also pointed at global trade war concerns as the biggest hurdle for investor appetite.Despite a multitude of positive crypto-specific developments, global tariff fears will continue to pressure the markets until at least April 2, according to Nicolai Sondergaard, a research analyst at Nansen.“I’m looking forward to seeing what happens with the tariffs from April 2nd onward, maybe we’ll see some of them dropped but it depends if all countries can agree,” Songergaard said.BTC/USD, 1-day chart. Source: Cointelegraph/TradingViewBitcoin’s price is down over 14% since US President Donald Trump first announced import tariffs on Chinese goods on Jan. 20, the day of his presidential inauguration.Still, analysts expect the PCE report to further soothe inflation-related concerns, catalyzing Bitcoin’s historic rally for the month of April.Source: CoinglassBitcoin has averaged over 12.9% monthly return during April, making it the fourth-best month for Bitcoin’s price based on historic returns, CoinGlass data shows.Related: Crypto debanking is not over until Jan 2026: Caitlin LongBitcoin may rally to $110,000 record high on easing inflation concernsBitcoin is more likely to soar to a new $110,000 all-time high before retracing to $76,500, according to Arthur Hayes, co-founder of BitMEX and chief investment officer of Maelstrom.Bitcoin’s rise to the record $110,000 mark “appears plausible in the current market environment,” according to Juan Pellicer, senior research analyst at IntoTheBlock.“BTC is showing signs of recovery, driven by growing institutional interest and significant investments from large players,” the analyst told Cointelegraph, adding:“The Federal Reserve’s recent decision to ease its monetary tightening could further boost liquidity, favoring a price increase in the near term.”“While market volatility remains a risk that could lead to a pullback, the overall momentum and support levels suggest Bitcoin is more likely to hit the higher target first,” added Pellicer.Magazine: ETH may bottom at $1.6K, SEC delays multiple crypto ETFs, and more: Hodler’s Digest, March 9 – 15
BlackRock launches Bitcoin ETP in Europe
BlackRock, the world’s largest asset manager, launched a Bitcoin exchange-traded product (ETP) on multiple European stock exchanges.The iShares Bitcoin ETP began trading on March 25 on Xetra, Euronext Amsterdam and Euronext Paris, according to BlackRock’s product page. The launch follows the success of its iShares Bitcoin Trust exchange-traded fund (ETF), which dominates the US market with $50.7 billion of assets under management, accounting for about 2.73% of the total Bitcoin (BTC) supply.Stephen Wundke, director of strategy and revenue at crypto investment firm Algoz, told Cointelegraph that “the availability of the iShares Bitcoin ETP may not have the same reaction across Europe” as it saw in the US:“Quality investment products through regulated asset managers have been more available throughout Europe than in the US, and secondly, Bitcoin is also more easily purchased. […] However, the ability for traditional family offices across Europe to hold a small percentage of their asset base in ‘digital gold’ is no doubt a good thing. […] Just don’t expect $60 billion of purchases in the first quarter.”Product details and fee structureThe new ETP trades under the IB1T ticker on Xetra and Euronext Paris, while on Euronext Amsterdam it uses BTCN. Bloomberg previously reported that the company was preparing to launch the new product, which followed the firm’s launch of a Bitcoin ETF on CBOE Canada.BlackRock iShares Bitcoin ETP specifics. Source: BlackRockAccording to Bloomberg, the product launched with a temporary fee waiver of 10 basis points, which decreases the expense ratio to 0.15% until the end of 2025. Europe’s top crypto ETP is the CoinShares Physical Bitcoin ETP, which currently charges 0.25%, making BlackRock’s offering considerably cheaper while the waiver is in place.“There is no doubt BlackRock’s aggressive fee structure was designed to keep competitors out of the market and question the commitment of any new entrants,” Wundke said.Wundke added that “this type of competition is good for investors and ultimately good for digital currencies,” highlighting that players in the market will have to compete to provide the best offering to investors.Related: ‘Successful’ ETH ETF less perfect without staking — BlackRockiShares expanding to EuropeThis is BlackRock’s first issuance of a crypto ETP outside of North America. Manuela Sperandeo, BlackRock’s head of Europe and Middle East iShares Product, told Bloomberg:“[This launch] reflects what really could be seen as a tipping point in the industry — the combination of established demand from retail investors with more professionals now really getting into the fold.”Related: Bitcoin ETFs log first net inflows in weeks, while Ether outflows continueAjay Dhingra, head of research at decentralized exchange aggregator Unizen, told Cointelegraph that the move reflects BlackRock’s confidence in the European Union’s Markets in Crypto-Assets Regulation framework:“From Trump to Biden and now Trump again, US digital asset policy has been largely inconsistent. In contrast, the EU has steadily embraced compliant blockchain adoption — offering the regulatory stability companies are looking for.”A recent BlackRock earnings report showed that the firm managed over $11.55 trillion on average during the fourth quarter of 2024. Other than the top Bitcoin ETF, the firm also launched its Grayscale Ethereum Trust ETF — the top Ether (ETH) ETF, with $3.46 billion in assets under management.Magazine: EU politician reveals her conversion to crypto — Eva Kaili
Bitcoin flips 'macro bullish' amid first Hash Ribbon buy signal in 8 months
Bitcoin (BTC) traders are celebrating as one of the best-known BTC price metrics finally flipped bullish again.The popular Hash Ribbon tool, created by quantitative Bitcoin and digital asset fund Capriole Investments, printed a first buy signal in a “macro bullish” event.Hash Ribbon sparks $100,000 Q2 BTC price targetBitcoin miners look set to make a comeback as the Hash Ribbon metric marks the end of their latest “capitulation” phase.The Hash Ribbon tracks potential long-term buy opportunities using hashrate; when miner profitability is at risk and network participants retire, this forms the capitulation which in turn leads to long-term price reversals.These are monitored using two moving averages of hashrate: the 30-day and 60-day. Capitulations correspond to the former crossing below the latter, while the reverse is true for buy signals.According to data from Cointelegraph Markets Pro and TradingView, the Hash Ribbon put in its latest buy signal on March 24. It is visible on both daily and weekly timeframes.“This is macro Bullish,” trader Titan of Crypto wrote on X.BTC/USD 1-week chart with Hash Ribbon data. Source: Cointelegraph/TradingViewThe previous Hash Ribbon buy signal came in July 2024. At the time, BTC/USD had yet to bottom out, and it took several months before a wave of upside began.A similar scenario happened after a buy signal printed in August 2023.Optimism over the latest development seemed tangible after much of Q1 2025 was marred by disappointing BTC price action.“One of the most accurate mid-term indicators is bullish now,” fellow trader Robert Mercer added.“Expecting $BTC to go back above $100,000 in Q2 of 2025!”Bitcoin ends “multimonth RSI downtrend”As Cointelegraph reported, Bitcoin has already begun to tease a bullish market turnaround as March nears a close.Related: Bitcoin must reclaim this key 2025 level to avoid new lows — ResearchChief among the signs is the relative strength index (RSI) indicator, which, like the Hash Ribbon, is in the process of returning to form after months of suppression.On weekly timeframes, RSI has confirmed a bullish divergence for the first time since September, while the daily chart is showing a support retest after breaking through a downward trend line in place since November.“The multimonth RSI Downtrend is over,” trader and analyst Rekt Capital confirmed to X followers this week.BTC/USD 1-day chart with RSI data. Source: Rekt Capital/XThis 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.
Movement Network to buy back tokens with $38M recovered from rogue market maker
The organization behind the Movement Network said it will use $38 million recovered from a market maker to buy back MOVE tokens over the next three months.On March 24, the Movement Network Foundation said it recovered about $38 million in assets from a market maker tasked with providing liquidity on buy and sell orders for the Movement (MOVE) token on Binance. Binance offboarded the market maker due to “market irregularities.” The exchange sanctioned the market maker, freezing its proceeds and forbidding it from further market-making activities. Market makers provide liquidity to crypto tokens to attract traders and stabilize their prices. These entities are tasked with providing liquidity on both buy and sell orders to ensure the smooth operation of crypto exchanges. Movement Network commits $38 million to token buybackAccording to Binance, the market maker sold 66 million MOVE tokens after the token was listed, while placing “little” in buy orders. These trades netted the market maker $38 million in Tether (USDT) from their trades. Binance said it froze the profits and informed the Movement Network Foundation of the incident. The foundation said it had “severed all relationships” with the market maker and had recovered the frozen funds from the market maker’s rogue actions, which it said it would use in a buyback program: “All cash proceeds recovered from the Market Maker will be used by the Movement Network Foundation to establish the Movement Strategic Reserve: a 38M $USDT buyback program to purchase $MOVE for long-term use and to return the USDT liquidity to the Movement ecosystem.”The organization also shared a wallet address for its “Movement Strategic Reserve,” to which the purchased MOVE tokens will be transferred periodically. Related: Binance is not ‘dumping’ Solana and other token holdings — SpokespersonBinance investigates market irregularitiesThe incident follows another Binance action against an affiliated market maker on the exchange. On March 9, Binance announced that it had offboarded market makers for projects GoPlus Security and MyShell. The exchange said it had confiscated the project’s proceeds and would make a compensation plan for its users. Apart from market makers, the exchange recently suspended a staff member for alleged insider trading. On March 25, Binance launched an investigation on a member of its Binance Wallet team after receiving a complaint that the employee had been front-running trades. Magazine: Ridiculous ‘Chinese Mint’ crypto scam, Japan dives into stablecoins: Asia Express
Onchain sleuth ZachXBT accuses Crypto.com of CRO supply manipulation
Crypto.com is facing criticism from the crypto community after reissuing 70 billion Cronos tokens burned in 2021. Critics said the move undermines the principles of decentralization and transparency in the cryptocurrency space.The controversy erupted on March 25 after onchain investigator ZachXBT posted on X, accusing Crypto.com of reissuing Cronos (CRO) tokens that had been declared permanently removed from circulation. “CRO is no different from a scam,” ZachXBT said, claiming the reissued amount represented 70% of the total supply and contradicted the community’s expectations.“Your team just reissued 70B CRO a week ago that was previously burned ‘forever’ in 2021 (70% total supply) and went against the community wishes as you control majority of the supply,” he added.The reissuance followed news that Trump Media had signed a non-binding agreement with Crypto.com to launch US crypto exchange-traded funds (ETFs) through Crypto.com’s broker-dealer, Foris Capital US.Source: ZachXBT“Unsure why Truth would choose a partnership with your exchange over Coinbase, Kraken, Gemini, etc, after this move by your team,” ZachXBT added.Suddenly increasing a token’s circulating supply may dilute the value of existing tokens, leading to a price decrease due to supply and demand mechanics.Crypto.com CEO responds to backlashIn response, Crypto.com CEO Kris Marszalek said the move was necessary to support investment growth under the new political climate in the US. “Cronos and Crypto.com have been running separately for years,” Marszalek said during a March 25 AMA on X, adding:“The original token burn from Q1 2021 was a defensive move. At that point in time, it made a lot of sense. Now we have strong support from the new administration, the war on crypto is over […] There’s a need for an aggressive investment to win.” Source: Crypto.com“This is what the community wants, it’s like thinking cents when we should be thinking dollars,” he added.Related: Bitcoin ‘more likely’ to hit $110K before $76.5K — Arthur HayesConcerns about governance and decentralizationCritics have also raised concerns that the voting process allowing the reissuance may have been manipulated.On March 19, Cointelegraph reported that GitHub users claimed the exchange’s validators control up to 70% of the voting power on the blockchain, giving them the ability to overturn community votes.According to Laura Shin’s Unchained sources, Crypto.com allegedly controls 70%–80% of the total voting power, essentially removing the need for any governance vote.Marszalek took to X on March 19 to highlight the firm’s financial and regulatory stability amid the ongoing controversy over the 70 billion Cronos token re-issuance.Source: Kris MarszalekRelated: Michael Saylor’s Strategy surpasses 500,000 Bitcoin with latest purchaseCrypto.com originally disclosed the 70-billion-CRO token burn in a now-deleted February 2021 blog post, referring to it as the “largest token burn in history” with a goal to “fully decentralize the network” at the CRO mainnet launch.A screenshot from a now-deleted Crypto.com blog post on the 70-billion-CRO token burn. Source: Archive.today“Aligned with our belief, and with the CRO chain mainnet launch just around the corner, we are fully decentralizing the chain network,” the blog post stated, announcing an immediate burn of 59.6 billion tokens.Magazine: Bitcoin’s odds of June highs, SOL’s $485M outflows, and more: Hodler’s Digest, March 2 – 8