PA Daily | JPMorgan raises U.S. recession chances to 40%; Upbit will launch Arkham (ARKM) won trading pair
Reprinted from panewslab
03/11/2025·2MToday's news tips:
Deutsche Exchange's Clearstream will provide BTC and ETH hosting services
JPMorgan raises U.S. recession chances to 40%
VanEck has registered Avalanche ETF in Delaware
Upbit will launch Arkham (ARKM) won trading pair
A whale sold $12.2 million SOL at an average price of $112.3, losing $7.48 million
Regulatory/Macro
Deutsche Exchange's Clearstream will provide BTC and ETH hosting services
Clearstream, a post-trading unit of Deutsche Exchange, announced that it will provide cryptocurrency settlement and custody services to institutional clients later this year. This marks another major European financial institution accelerating its layout in the digital asset field. Clearstream plans to provide Bitcoin and Ethereum-related services to 2,500 customers starting next month through its holding subsidiary Crypto Finance as a sub-custody agency. In the future, Clearstream also plans to support more cryptocurrencies and launch multiple features including staking, lending and brokerage services.
JPMorgan raises U.S. recession chances to 40%
Economists at Wall Street investment bank JPMorgan Chase raised the risk of a U.S. recession this year to 40% from 30% at the beginning of 2025. "We believe that the U.S. is in a recession this year is very risky," analysts wrote. Earlier, it was reported that Morgan Stanley economists cut U.S. economic growth expectations and raised inflation expectations last week. The bank predicts that the U.S. GDP growth rate will be only 1.5% in 2025 and will drop to 1.2% in 2026. Goldman Sachs economists also raised the probability of a 12-month recession from 15% to 20%.
VanEck has registered Avalanche ETF in Delaware
According to the Delaware company registration information, VanEck registered the "VanEck Avalanche ETF" on March 10, 2025. The company type is Statutory Trust and the registration agency is CSC Delaware Trust Company.
Viewpoint
Former Coinbase Chief Technology Officer Balaji Srinivasan posted on social media that there are four major misunderstandings in MAGA (making the United States great again) that may give up global dominance to China. He believes that MAGA mistakenly attributes the US recession to competition itself, not lack of competitiveness; blames global leadership itself, not bad leadership; overreacts to "hostile forces" at home and abroad; and fails to realize that the dollar hegemony depends on the US global influence. Balaji pointed out that MAGA tried to quickly cut off imports, shut down institutions, and withdraw from the war, but these actions could weaken the foundation of the US global empire, ultimately causing the US dollar to lose its international status and have serious consequences for the United States and its allies. He stressed that the root cause of the problem lies in the lack of competitiveness of American products and the lack of leadership, rather than globalization itself.
Robert Kiyosaki, author of "Rich Dad Poor Dad", posted on social media that the current "full bubble" is bursting, which may trigger the biggest collapse in history, even surpassing the Great Depression in 1929. He believes that the economic engines of the United States, Germany and Japan are in trouble and blame the problems on bad decisions by the leadership. Kiyosaki calls on investors to stay calm and not panic and see the coronavirus as an opportunity to buy quality assets. He said he will continue to invest in real assets such as real estate, gold, silver and Bitcoin, reminding investors to look for opportunities in the chaos.
Analysis: Excessive long positions in the yen may support Bitcoin and Nasdaq index
CFTC data shows that excessive long positions in the yen may trigger a pullback, bringing short-term support to Bitcoin and the Nasdaq index. Morgan Stanley pointed out that speculative position stretching and Japanese investors' buying behavior on dips may slow the appreciation of the yen. Historically, similar situations have driven a rebound in risky assets. As of press time, Bitcoin was $80,300, down nearly 5% this month, with the U.S. dollar at 147.23 against the Japanese Yen, hitting a five-month low of 145.53 earlier. Although it is expected to ease in the short term, the long-term bullish trend of the yen remains, so we need to be wary of market volatility.
Project News
Bubblemaps will TGE on Binance Wallet
Binance Wallet announced that it will hold an on-chain data visualization platform Bubblemaps (BMT) token generation activity (TGE) on PancakeSwap from 16:00 to 18:59 Beijing time on March 11. Previous news, Bubblemaps: The platform token BMT will be launched on March 11.
Upbit will launch Arkham (ARKM) won trading pair
According to Upbit's announcement, Arkham (ARKM) will launch the Korean won (KRW) trading market at 16:00 on March 11 (Korea time).
According to Binance announcement, the Kadena (KDA) network will be upgraded and hard forked on March 18, 2025 at 00:00 (UTC), and Binance will support this upgrade. • Recharge and withdrawal pause time: 23:00 on March 17, 2025 (UTC) • Upgrade and hard fork block height: 5,659,280 (expected to 00:00 on March 18, 2025) Binance will reopen KDA recharge and withdrawal after the network upgrade is completed and stabilized, and the transaction will not be affected.
Offchain Labs says it will buy back ARB tokens as planned
According to an announcement from Offchain Labs, the company has launched a strategic purchase plan and will increase its holdings in ARB under open markets and other transactions to strengthen its long-term commitment to the Arbitrum ecosystem. The plan will be implemented step by step based on preset parameters.
Important data
A whale sold $12.2 million SOL at an average price of $112.3, losing $7.48 million
According to Lookonchain monitoring, a whale user sold 108,688 SOLs for $112.3 in exchange for $12.2 million USD, almost close to the lowest price of the day. It is reported that the SOLs were withdrawn from Coinbase 11 months ago, at the time of the price of $181, and the transaction caused the user to lose about $7.48 million.
ARKM rose nearly 50% in a short period of time and is now at $0.7
The market shows that due to the influence of Upbit's launch of the Arkham (ARKM) Korean won trading market, the price of ARKM rose by nearly 50% in a short period of time and is now around US$0.7.
According to Arkham dashboard data, MemeKOL Murad's crypto asset portfolio has shrunk significantly in the past month, falling from about US$54 million on January 18 to US$9.7 million at present, with a floating loss of more than 80% in less than two months. The price of its main holdings, SPX, fell from a high of US$1.52 to US$0.288, a drop of more than 80%. In addition, holdings of tokens such as GIGA, RETARDIO, MOG and MEMDEX have also all declined sharply. There has been no transactions above $10,000 in the past month for its marked address.
Giant Whale loses $32 million to sell 25,800 ETH to avoid liquidation
According to Lookonchain, a giant whale sold 25,800 ETH (about $47.8 million) to avoid liquidation, and lost more than $32 million in the transaction. Currently, the giant whale still holds 35,034 ETH (approximately $64.68 million) on Aave, with a health rate of 1.4 and the latest liquidation price is $1,316.
jinse