Hot News

• President Trump signed an executive order to establish a strategic Bitcoin reserve and the U.S. Digital Asset Reserve. The reserve will be funded by cryptocurrencies confiscated by the federal government through criminal or civil proceedings. The government will not sell Bitcoin assets in the reserve, and any future acquisitions of Bitcoin and other digital assets will be done at zero budget. The Digital Asset Reserve will be actively managed by the U.S. Department of the Treasury.

• Since the Bitcoin reserve does not include plans to purchase additional Bitcoins, Bitcoin prices fell by about 14% last week. Investors turned the market's focus back to macroeconomic uncertainties.

Macro Outlook

• President Trump announced a temporary suspension of tariffs on Mexican and Canadian goods until April 2. This came just two days after the United States re-imposed tariffs on the two countries. In addition, Canada and China quickly retaliated against the United States with tariffs. It is worth noting that Trump did not withdraw the additional 10% tariff on Chinese goods, leaving the cumulative 20% tariff that took effect on February 4 still in effect.

• The US ISM manufacturing PMI fell to 50.3 in February, slightly lower than the market expectation of 50.5. At the same time, the ISM service PMI rose to 53.5, better than the market forecast of 52.6%. The ISM service PMI in February was higher than expected and consistent with the S&P service PMI data released after the upward revision that month, indicating that the US service industry is still in an expansionary trend.

• The U.S. non-farm payrolls increased by 151,000 in February, lower than the market expectation of 160,000. The unemployment rate rose to 4.1% in the same month, slightly higher than the market forecast of 4%.

Upcoming economic calendars include:

• Tuesday, March 11, 10:00 pm: US JOLTs job openings data for January

• Wednesday, March 12, 8:30pm: US February inflation data

• Thursday, March 13, 8:30pm: US PPI for February

• Friday, March 14, 10:00 pm: U.S. preliminary consumer confidence index for March from the University of Michigan

Cryptocurrency Market Overview

• The U.S. SEC has reportedly terminated its investigation into Yuga Labs and Kraken .

• Utah’s Bitcoin reserve bill ( HB230 ) has been amended to completely remove provisions related to Bitcoin reserves, retaining only basic protections for mining activities and node operations.

Layer 1 and Layer 2 Public Chains

• MegaETH has been launched on the testnet , and the team clarified that there is currently no airdrop plan for testnet users.

• Solayer launches native SOL staking service, providing stakers with 9.5% direct returns.

Dapps

• Pendle launches sUSDX interest rate market as the first unlicensed interest rate market. The listing interface and toolkit will be launched soon. Additional community markets that pass audits and assessments will be listed on the Pendle Prime platform to enhance user trust.

• Maple Finance announced that it has introduced Bitwise, which manages more than $12 billion in assets, to its on-chain credit platform to help the asset management company provide lending that meets institutional-level regulatory standards.

• Fetch.ai launches the first Web3 native large-scale language model , ASI-1 Mini , designed and optimized to support complex autonomous agent workflows.

• Hey Anon released the Ask Anon plug-in, which can be embedded in various DeFi protocols to help users submit DeFi consultations and requests conveniently.

• Aevo launches Option OTC 2.0, an on-chain options over-the-counter trading platform that provides institutional-grade liquidity and is free of exchange fees.

• Worldcoin launches beta version of chat app with built-in payment functionality in its mobile app.

• Across has closed a $41 million funding round led by Paradigm through the sale of ACX tokens. Although the token release schedule has not yet been made public, the Seed and Strategy rounds of tokens are expected to be unlocked in June 2025 (accounting for 23% of the circulating supply), with regular cliff unlocks before February 2026.

• Stake, as a multi-virtual machine interoperability protocol, launched Stake AMM . This new AMM can operate across multiple VM networks and unify the liquidity of multiple VMs into a single AMM quote curve.

• Mass has partnered with Dinari Global, the custodian of tokenized stocks, to launch more than 30 tokenized stock markets on its mobile trading platform.

• Backed Finance launches the ninth stock token wbCOIN , which is a tokenized Coinbase stock and issued on the Base chain.

Governance/Project Updates

• Solana's SIMD-0228 proposal is currently undergoing a voting process. The proposal aims to introduce a market-based token emission model .

• Ethereum's Pectra upgrade is expected to be scheduled soon, and some communities expect the upgrade to take place around the end of March.

• AAVE proposed an implementation plan to launch Aavenomics , which includes a weekly repurchase and distribution of $1 million of AAVE, with an initial period of 6 months. At the same time, the liquidity committee was authorized to gradually reduce liquidity incentives and eliminate LEND tokens.

• AAVE also proposed to launch the Aave Savings Rate to attract more GHO holders. The interest rate is designed with reference to the lending rate of USDC and is expected to be higher than the Sky Savings Rate.

• The Jito proposal discusses the value return scheme of the JTO token economy , including repurchase, destruction, establishment of liquidity pools, reward voting mechanisms, etc.

• Fluid proposes to expand its services to the Polygon PoS network.

• Sui and World Liberty Finance are jointly exploring cooperation opportunities and plan to incorporate SUI into WLFI's token reserve assets.

• Celo announced that its Layer-2 mainnet will be launched on March 26.

• Synthetix launched 420 Pool , providing a new staking pool for SNX holders. Participants can obtain diversified liquidity mining income such as sUSDe, and use part of the income to repurchase SNX.

Token Unlock

• IO tokens were unlocked on March 11th, accounting for 2.17% of the total supply.

• APT tokens were unlocked on March 12, accounting for 1.91% of the total supply.

• STRK tokens were unlocked on March 15, accounting for 2.47% of the total supply.

• ARB tokens were unlocked on March 16, accounting for 2.08% of the total supply.

• VANA tokens were unlocked on March 16, accounting for 1.46% of the total supply.

• APE tokens were unlocked on March 16, accounting for 1.91% of the total supply.

• STRK tokens were unlocked on March 15, accounting for 2.47% of the total supply.

• IMX tokens were unlocked on March 21, accounting for 1.38% of the total supply.

• PLUME tokens were unlocked on March 21, accounting for 5.41% of the total supply.

• ID tokens were unlocked on March 22, accounting for 18.1% of the total supply.

• OP tokens were unlocked on March 31, accounting for 1.98% of the total supply.

• GRASS tokens were unlocked on March 31, accounting for 1.51% of the total supply.

Click here to subscribe to weekly market insights and exclusive in-depth research.