Day: March 11, 2025

Centralized data infrastructure violates Web3’s core of decentralization

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Opinion by: Michael O’Rourke, founder of Pocket Network and CEO of Grove Open data is currently a major contributor toward building a global emerging tech economy, with an estimated market of over $350 billion. Open data sources often rely, however, on centralized infrastructure, contrary to the philosophy of autonomy and censorship resistance. To realize its potential, open data must shift to decentralized infrastructure. Once open data channels start using a decentralized and open infrastructure, multiple vulnerabilities for user applications will be solved. Open infrastructure has many use cases, from hosting…

Bitcoin dips below $80K as Trump Canada tariffs halt BTC price comeback

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Bitcoin (BTC) cooled a 7% rebound after the March 11 Wall Street open as familiar headwinds sparked market jitters. BTC/USD 1-hour chart. Source: Cointelegraph/TradingView Bitcoin, stocks deflate on fresh tariffs letdown Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it touched local highs of $82,154 on Bitstamp before consolidating. US JOLTS job openings data delivered a slight overshoot versus expectations, but it was confirmation of further trade tariffs on Canada by US President Donald Trump that spoiled risk-asset relief. The S&P 500 thus traded down 0.5% on the…

Paxos CEO urges US lawmakers to set cross-border stablecoin regulation

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US lawmakers are set for a heated debate on stablecoin regulation, with key industry leaders expected to outline their vision for the future of digital asset oversight. Charles Cascarilla, co-founder and CEO of stablecoin issuer Paxos, is scheduled to testify before the House Financial Services Committee, urging lawmakers to establish “cross-jurisdictional reciprocity” in stablecoin regulations. In his prepared testimony, Cascarilla flagged concerns about the existing hurdles in the adoption of Paxos’ Global dollar (USDG) stablecoin due to it being issued via a regulated affiliate in Singapore. “We fear that products…

Senator Lummis reintroduces BITCOIN Act, proposing 1 million BTC purchase

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Key Takeaways Senator Cynthia Lummis will announce developments on the US strategic Bitcoin reserve. President Trump signed an executive order for a Strategic Bitcoin Reserve managing seized assets. Share this article Senator Cynthia Lummis reintroduced the BITCOIN Act today while attending a Bitcoin-focused conference hosted by the Bitcoin Policy Institute. The event also featured Michael Saylor and Vivek Ramaswamy. The BITCOIN Act is back. pic.twitter.com/WNeU6SWPj3 — Senator Cynthia Lummis (@SenLummis) March 11, 2025 Ahead of the announcement, Lummis had shared a short video about the Bitcoin reserve hype, stating “Big…

3 reasons XRP might drop to $1.60 in March

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The XRP (XRP) daily chart registered its lowest candle close in 99 days on March 10. The altcoin dropped below the $2 support level but registered a short-term recovery of 12% on March 11. XRP 1-hour chart. Source: Cointelegraph/TradingView On the high time frame (HTF) charts, XRP must hold above its psychological level at $2, but other metrics suggest that a deeper drawdown is possible. XRP markets lack buyers as futures flip bearish XRP price is currently down 37.1% from its all-time high of $3.40. When prices dipped by a…

Yuga exec warns about ‘true bear market’ Ether price as whales scramble

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Yuga Labs’ vice president of blockchain has warned that Ether could drop as low as $200 in a prolonged bear market, a 90% decline from its current price. In a March 11 post on X, the executive, known as “Quit,” pushed back against analysts who suggest $1,500 as a possible bottom for Ether (ETH). Instead, Quit argued that a true bear market could see ETH fall significantly lower, similar to previous market cycles. “A true bear market target, if we’re just getting started, would be ~$200-$400. That’s an 80% drawdown…

Ether risks correction to $1.8K as ETF outflows, tariff fears continue

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Ether is struggling to reverse a near three-month downtrend as macroeconomic concerns and continued selling pressure from US Ether exchange-traded funds (ETFs) weigh on investor sentiment. Ether (ETH) has fallen by more than 53% since it began its downtrend on Dec. 16, 2024, after it had peaked above $4,100, TradingView data shows. The downtrend has been fueled by global uncertainty around US import tariffs triggering trade war concerns and a lack of builder activity on the Ethereum network, according to Bitfinex analysts. ETH/USD, 1-day chart, downtrend. Source: Cointelegraph/ TradingView  “A…

Is altseason dead? Bitcoin ETFs rewrite crypto investment playbook

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Bitcoin exchange-traded products may have fundamentally altered the concept of a crypto “altseason.” For years, the crypto market followed a familiar rhythm, a near-predictable dance of capital rotation. Bitcoin (BTC) surged, bringing mainstream attention and liquidity, and then the floodgates opened to altcoins. Speculative capital rushed into lower-cap assets, inflating their values in what traders euphorically deemed “altseason.” However, once taken for granted, this cycle shows signs of a structural collapse.  Spot Bitcoin exchange-traded funds (ETFs) have shattered records, funneling $129 billion in capital inflows in 2024. This has provided…

Bitcoin $70K retracement part of ‘macro correction’ within bull market: analysts

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Bitcoin’s potential retracement to $70,000 may be an organic part of the current bull market, despite crypto investor concerns of an early arrival of a bear market cycle. Bitcoin (BTC) fell more than 14% during the past week to close around $80,708 after investors were disappointed with the lack of direct federal Bitcoin investments in President Donald Trump’s March 7 executive order that outlined a plan to create a Bitcoin reserve using cryptocurrency forfeited in government criminal cases. Despite the drop in investor sentiment, cryptocurrencies and global markets remain in…

Bitcoin price bounces 4% as data gives ‘89% chance’ stocks bottom is in

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Bitcoin (BTC) rebounded above $81,000 on March 11 as US stocks’ futures sought relief from a brutal sell-off. BTC/USD 1-hour chart. Source: Cointelegraph/TradingView BTC price bounces back amid calls for short squeeze Data from Cointelegraph Markets Pro and TradingView showed daily BTC price gains approaching 4%. New four-month lows had accompanied the previous day’s Wall Street trading session as recession fears sent risk-asset investors fleeing. The S&P 500 and Nasdaq Composite Index finished the day down 2.7% and 4%, respectively. At the time of writing, Nasdaq 100 futures had recovered…