Cryptonews

Ah, the derivatives traders-those architects of leverage, those dreamers of infinite gains-have unwound their bullish bets with the haste of a man fleeing a burning izba. Their conviction, once as sturdy as a Gulag fence, has crumbled under the weight of falling prices. The charts, those silent witnesses to human folly, reveal a truth as stark as a Solzhenitsyn novel: the long positions, once so proud, have been forced into the abyss, their holders left to ponder the wisdom of their greed.

Analytics firm Santiment recently shared on X (formerly Twitter) about a growing trend: discussions around an “altseason.” They measure this using ‘Social Volume,’ which tracks the total number of weekly posts, messages, and threads mentioning a specific topic across major social media platforms.

Take Ali Martinez, for example. A man of great faith in his own market predictions. He’s convinced that Bitcoin might be positioning itself for what he calls a “relief rally”-because who doesn’t need a bit of relief in today’s wild economic circus?

Bitcoin’s up 9% in 12 hours, adding a cool $123 billion to its market cap. Ethereum’s not slouching either, up 11% and pocketing $26 billion. Someone call the therapist, because these numbers are giving me emotional whiplash.

The data, my darlings, is as clear as a gin and tonic at high noon: on-chain trading is no longer the wallflower at the crypto ball. It’s waltzing in, stealing the spotlight, and giving those stuffy CEXs a run for their money.

The decision could create problems for how payments are processed and might encourage other cryptocurrency companies to request similar access to the central bank’s systems.

The erstwhile Commander-in-Chief, Donald Trump, took to his digital soapbox, Truth Social, on March 3 to rally the troops. With a flourish that would make a bard blush, he declared his undying love for the U.S. crypto industry, urging lawmakers to stop dilly-dallying and pass the Clarity Act. Lest we forget, he also gave the banks a stern look, warning them not to undermine the Genius Act. In his own words, which were as subtle as a brick to the forehead:

Regulatory paperwork has been filed by Morgan Stanley, offering investors a gentler way to dabble in bitcoin than purchasing or holding it personally. The scheme promises the privilege of sitting in on the digital frenzy without the risk of having your keys stolen from a bunker.

What’s the bill about? Well, it’s designed to create a clear market structure for cryptocurrencies in the United States, because, let’s be honest, things have been a bit of a mess so far. And, of course, it’s going to define the role of regulators, so they can finally stop being so confused.

On March 3rd, Aave Chan Initiative, a major service provider, announced they will be leaving the Aave ecosystem in four months.