PA Daily | 24.3% of the total AUCTION tokens flow into the CEX platform, with the price dropping by 60%; BlackRock CEO predicts that Bitcoin can rise to $500,000 to $700,000
Reprinted from panewslab
03/23/2025·2MToday's news tips:
1. He Yi responded to "the project party that is about to withdraw money to buy tickets for others": No one will be removed from the shelves next time
2. Trader Eugene: Stronger altcoins have reached the bottom, but it is still unclear whether the bottom of most assets will arrive
3.BlackRock CEO predicts Bitcoin can rise to $500,000 to $700,000
4. Kaito.AI: The 30-day KAITO token application period has ended, and the unapplication of tokens will be used to incentivize creators and users.
5.Movement Lianchuang: Movedrop will be launched in April
6. After the AUCTION project party transferred 359,000 tokens to several CEX platforms in the early morning, the price of the coin began to fall.
7. "Propose 26% of the total amount of whales/institutions from Binance" transferred 1.5 million AUCTION ($49.88 million) to Binance
8. NFT transaction volume fell 3.19% month-on-month to US$102 million in the past seven days, with both buyers and sellers rising by nearly 70%
Regulatory/Macro
Pakistan Cryptocurrency Commission proposes to use excess energy for BTC mining
Bilal Bin Saqib, CEO of the Pakistan Cryptocurrency Commission, proposed using the country's excess energy to power Bitcoin. On March 21, the Cryptocurrency Council discussed mining issues at its first meeting. The establishment of the Cryptocurrency Committee is very different from the Pakistani government’s previous position on cryptocurrencies. In May 2023, former Finance and Taxation Minister Aisha Ghaus Pasha said that cryptocurrencies will never be legal in the country.
Previous news Pakistan plans to create a legal framework for cryptocurrency transactions to attract international investment.
Japanese listed real estate company Open House Group announced that it would accept XRP, SOL and DOGE payments to support international customers to purchase local properties using relevant cryptocurrencies. The company has previously announced support for BTC and ETH payments and sponsored Japan's largest lightning network community "Diamond Hands" for a joint research project in 2022.
The U.S. Department of Justice (DOJ) announced on March 21 that $7 million in proceeds from a cryptocurrency investment fraud scheme has been recovered and now has begun inviting victims to submit petitions to remit funds. "These fraudulent websites imitate legal cryptocurrency investment platforms, but remit the victim's funds to the perpetrators through more than 75 bank accounts opened in the name of shell companies." The victims were misled to believe that their investment value was increasing, but in fact, the gains were fabricated.
After laundering money through a complex series of domestic and international transactions, the offenders eventually transferred their funds overseas. In June 2023, the U.S. Secret Service seized funds from a foreign bank account, prompting the Justice Department to file a civil confiscation lawsuit. After a foreign bank filed a claim, the parties reached a settlement, resulting in the confiscation of $7 million to the United States.
Custodia Bank founder and CEO Caitlin Long said it was too early to say that debanking was over, and the Federal Reserve is reviewing two crypto-friendly banks and sending large numbers of reviewers, including those from Washington, a large army of slaughtering these banks to serve crypto companies.
Caitlin Long added: "Trump won't be able to appoint a new Fed director until January next year, so there can be signs that lead to a potential big fight. What should the crypto industry do if the U.S. Currency Complaints Agency (OCC) and the U.S. Federal Savings Insurance Corporation (FDIC) overturn their anti-cryptocurrency guidelines and the Fed doesn't overturn it?"
Viewpoint
Greeks.live macro researcher Adam released a Chinese community briefing, which pointed out that the community is cautious about Bitcoin volatility and discusses more questions about whether it will hit a new low. Members mainly focus on rationally building hedging structures and selecting cost-effective option strategies, rather than simply predicting the market's rise and fall direction. In terms of options trading strategies, the community believes that it is important to choose an option strategy that can sell both good prices and good IVs. Most traders tend to reduce costs and focus on cash flow direction, accept goods at discounted prices through the backup/counter-backload strategy rather than focusing on volatility trading.
Binance co-founder He Yi posted a message on X platform to respond, "Voting for coin listing: the project party cannot buy tickets for themselves, Voting for coin listing: the project party is about to buy tickets for others." She said, "Next time no one will be removed."
Trader Eugene said on his personal channel that the current market has entered the fifth stage in the chart (long losses, currency price consolidation, trading volume and volatility shrinkage). At this stage, some of the stronger altcoins have reached the bottom, but it is still uncertain whether the bottom of most assets has arrived. This stage is the stage where Eugene himself participates the least, mainly because the volatility is very small regardless of whether it rises or falls. I will only try to pick one or two targets that think are more defensive than ordinary altcoins, hoping that they will perform better if they make mistakes in their bearish judgments, but that's all.
The tricky part of the fifth stage is the uncertain duration. Personally, given the lack of structural damage (no company or project collapse), it will not stay at this stage as long as the previous cycle, but this is just a personal guess. The crypto market may follow the stock market trend for some time.
BlackRock CEO predicts Bitcoin can rise to $500,000 to $700,000
BlackRock CEO Larry Fink predicts Bitcoin can rise to $500,000 to $700,000, according to Cointelegraph.
Project News
Kaito.AI posted on X platform that the 30-day KAITO token application period has ended and is currently sorting out applications related to suspended accounts. If the account cannot be applied due to suspension, you must go to the official Discord to fill out the form. The unclaimed KAITO tokens will remain in the community and be completely converted into future creators and user incentives. In the next few days, Kaito.AI will also set up a vote to decide whether AI Agent/chatbots should receive financial incentives like human content creators.
RWA project ZOTH released a stolen update on the X platform, which revealed that the disclosure team is actively investigating the stolen incident. On-chain activities show that this is a carefully planned attack. It is currently working with professional experts to track the stolen funds and recover. 73% of TVL (total locked value) on the platform has been immediately guaranteed with the help of the asset issuer. A detailed report of the attack is planned to be shared in the next few weeks. In addition, ZOTH has announced that it has set up a public bounty of $500,000, and any actionable clues that help fund recovery will be rewarded from the bounty.
Previous news : After ZOTH was attacked, the hacker had exchanged 8.8 million USDO++ for 8.3 million DAI, and then exchanged DAI with 4,223 ETH through CoW Swap, depositing the address 0x7b0c…60cf. The current balance of this address is about 4.2K ETH.
Movement Lianchuang: Movedrop will be launched in April
Movement co-founder Rushi tweeted that movedrop has confirmed to be launched in April and needs to first solve the following problems:
- Ensure TVL is bridged with cornocopia, hoping that users can use MOVE to use dapps and assets on the chain
- Like the testnet, hopefully gamification and making it fun. Promoting parthenon as soon as possible
- No additional standards are required
- Witch activity, actively monitoring the witches in distribution
- Incentives
The dYdX Foundation issued a document on the X platform that it has completed the rebalancing of DYDX staking delegation, aiming to support the security and elasticity of dYdX Chain and promote a more even distribution of pledge weights for active validators.
According to disclosed data, as of March 21, the dYdX Foundation had about 6.2 million DYDX tokens available for Foundation Delegation.
UniSat releases a new version of the extended wallet, which will support phishing website detection
UniSat announced on X platform that it has launched its extended wallet v1.5.8 version. The new wallet will support phishing website detection and will receive an alert immediately when visiting reported or blacklisted websites. In addition, it also fixed the issue of not being able to prompt UniSat for signature due to conflicts with other extensions.
IOTA releases decentralized identity framework IOTA Identity Alpha
IOTA released the IOTA Identity Alpha version of the decentralized identity framework, aiming to provide a framework for authentication, authentication and secure data exchange. Currently, the new version is online on the MoveVM-based test network. Migrating from the previous Stardust VM to MoveVM can enhance on-chain programmability, and at the same time improve privacy through off-chain verified credentials.
Important data
Data: US Bitcoin ETF bought 8775 BTC this week, and miners produced only 3150 BTC
Bitcoin Magazine disclosed data on the X platform that this week, the US Bitcoin Exchange-traded funds bought a total of 8,775 BTC, while Bitcoin miners produced only 3,150 BTC.
According to CryptoSlam data, NFT trading volume fell to $102 million this week, down 3.19% from the previous week. The number of NFT buyers increased by 71% to 350,063; the number of NFT sellers increased by 68.57% to 225,465; and the number of NFT transactions increased by 16.90% to 1,696,996.
Ethereum network NFT transactions fell 13.03% to $27.7 million, but the number of buyers increased by 42.17% to 44,850. Bitcoin network transaction volume fell 30.69% to $16.3 million, while buyers rose 63.67% to 31,251. Mythos Chain network rose slightly by 3.12% to $15.6 million, ranking third.
Deals worth watching this week include:
- CryptoPunks #6634: $431,243 (222.5 ETH)
- Azuki #641: $209,021 (110 WETH)
- Autoglyphs #166: $198,308 (103 ETH)
- Autoglyphs #275: $189,198 (100 WETH)
- Autoglyphs #402: $188,475 (99.9 ETH)
A new wallet extracted 95,011 SOLs from Coinbase 12 hours ago and used them for pledge
According to Onchain Lens monitoring, a newly created wallet pulled 95,011 SOLs ($12.36 million) from Coinbase 12 hours ago and sent them for staking.
According to the monitoring of the on-link analyst Yu Ember, a multi-signment address of the AUCTION project party transferred 359,000 AUCTION (20.48 million US dollars) from 03:13 to Binance, OKX, Gate and other exchanges. The project party’s address began to transfer at 03:13, and the AUCTION price began to decline at 03:15.
AUCTION fell by more than 50% in 24 hours, with a liquidation of US$16.6522 million
According to OKX market data, AUCTION fell by more than 50% in 24 hours and is now at US$27.1. Coinglass data shows that AUCTION has lost $16.6522 million in the past 24 hours.
Previous news, after the AUCTION project party transferred 359,000 tokens to several CEX platforms in the early morning, the price of the currency began to fall . In addition, "the whale/institution that proposes 26% of the total amount from Binance" has transferred to Binance many times today.
According to on-chain analyst Ember Monitor, "a total of 26% whales/institutions proposed from Binance" also transferred the last 200,000 AUCTION ($4.9 million) to Binance 20 minutes ago. The 2 million AUCTION stockpiled by the whale/institution some time ago have all been transferred to Binance.
- From 4 a.m. today to now, "a total of 26% whales/institutions proposed from Binance" has transferred 1.5 million AUCTIONs ($49.88 million) to Binance.
- The project party's address transferred 359,000 AUCTION (US$20.48 million) to Binance, OKX and Gate at 3 a.m.
In just 10 hours, 1.859 million AUCTIONs (US$70.36 million) flowed into CEX, which is 24.3% of the total AUCTION volume. The AUCTION price also fell from $57 at 3 a.m. to $23 now, a 60% drop.
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