Market Update
Bitcoin is officially dead, you’ve probably read it before but this time is different. Look, this website chart even shows you every time BTC has died and the price it was at publication https://bitcoindeaths.com/
Ok, I’ll stop. It’s good for perspective though. Frankly, I doubt you’re reading this without some level of conviction in the asset class already so you don’t need me to convince you.
Right now, nothing poses a direct threat to Bitcoin achieving its core mission of creating economic freedom in the world without the need of trusted third parties. Short term investors and leveraged traders are front-running potential recession news coming out of the US by selling now. Idealistic investors continue to accumulate at record rates. Which one are you?
Ethereum continues to struggle to shake its bearish trend even after it went through a major upgrade. While memecoins and other non-core assets…well, you already know what I think. Rotation of capital from BTC gains is yet to hit alts in a meaningful way this cycle leaving many investors hopeful the true altcoin cycle is still to come, perhaps it's when the money printer turns back on in Q3?
Letters From The Trenches
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Crypto News
Stablecoin Market Cap Tops $200B: Helping Maintain Dollar Dominance
The combined market capitalization of the five biggest stablecoins passed $200 billion for the first time after Treasury Secretary Scott Bessent pledged on Friday to use the digital assets to help maintain the greenback as the world's reserve currency.
Solana Revenue Slumps 93% from January High After Memecoin Bubble Bursts
Memecoin trading, primarily on the Pump.fun platform comprises roughly 80% of the Solana blockchain’s revenues, according to a March 5 report by VanEck. Pump.fun daily revenue hit a peak of $15 million in late January but has since slumped by around 95% to $800,000 on March 7, according to data from Dune Analytics.
Altcoin ETF Craze: Franklin Templeton Joins XRP Race and VanEck Eyes AVAX Fund
While different types of altcoin filing pile up, Bloomberg ETF analysts recently estimated that Litecoin ETFs have the highest chance of approval, putting the odds at a 90% chance of approval. Dogecoin funds received a 75% chance of approval, followed by Solana (70%) and XRP (65%) products.
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