In this article, we look at the key macroeconomic releases in the US this week, such as jobs numbers, CPI and PPI, and how it could affect markets.

Fears of a US recession and a global trade war have triggered significant downturns in the crypto and stock markets over the past month. As the Trump administration's policies fuel a "period of transition," financial markets are entering a "detox period" characterized by increased volatility and uncertainty. Meanwhile, this is a critical week for investors, with multiple US economic reports being released by Mar 14, 2025.

In this article, Bybit will introduce you to the key macro trends shaping financial markets and crypto prices. You’ll also learn which of this week’s economic reports are the most important to be aware of.

Amid falling stock and crypto prices and market uncertainty, this week is important for investors, with multiple key economic reports being released between March 10 and 14. 

These are the most crucial macro events to watch this week:

A new job openings report was released on Mar 11, 2025, showing that 

 were added in January, bringing total openings to 7.74 million. This signals a resilient labor market, which could have implications for inflation and interest rate expectations.

Investors are now turning their attention to the upcoming reports on 

 on March 12 and the Core Producer Price Index (PPI) on March 13 for further clues on inflation trends. If inflation remains elevated, it could influence the Federal Reserve's policy stance, potentially delaying rate cuts that markets have been anticipating. This could lead to short-term volatility across equities and crypto, as higher interest rates generally make risk assets less attractive to investors.

Despite a strong start this year, the crypto market has taken a significant hit since early February. As of Mar 12, 2025, the combined cryptocurrency market cap

 over the past seven days and 15.24% in the past 30 days. 

Here's how the prices of some major coins have changed:

This market sell-off has triggered a large number of liquidations, 

 over the past 24 hours. Additionally, the 

 has fluctuated between "Fear" and "Extreme Fear" since Feb 25, 2025. This suggests that investors feel pressure to sell their cryptocurrency, driving digital asset prices down.

Cryptocurrency isn’t the only asset class that has recently experienced a significant downturn. In fact, the crypto sell-off is primarily being driven by global market turmoil that has also triggered a stock market downturn within the past few weeks.

The S&P 500 (GSPC), Nasdaq-100 (NDX) and Dow Jones Industrial Average (DJI) — three of the major stock market indices — are down by 8.18%, 10.94% and 7.09%, respectively, over the past 30 days. What's more, the NDX had its 

 within 24 hours, and the “Magnificent Seven” stocks 

But why did crypto and US stocks fall so heavily over the past month? The answer lies in new warnings that the US economy could be 

. Moreover, investors fear that President Donald Trump's tariffs could lead to a global trade war.

Since his inauguration on Jan 20, 2025, Trump has introduced a 

 on US steel and aluminum imports. Moreover, he’s introduced nation-specific measures against 

Also, the Trump administration is drastically cutting US government spending by 

 and other measures. These policies, combined with the impacts of a brewing trade war, are fueling market volatility and uncertainty in the short term.

, warning of short-term pain for financial markets. According to Treasury Secretary Scott Bessent, these moves aim to rebalance the economy and could lead to a "detox period."

Intermediate

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Macro this week: Key releases amid recession fear

AI-DOL Superstar Trading Battle is a premier trading and voting event aiming to support emerging AI crypto projects. Find out more about the five key AI mentors helping to shape the future of AI.

The AI-DOL Superstar Trading Battle is a premier AI-driven event hosted by Bybit. It serves as a launchpad for emerging AI-powered crypto projects, offering them a chance to secure a Bybit Spot listing and gain industry recognition.

A key element of the event is its mentorship program, through which leading AI projects provide strategic guidance to new entrants. These mentors offer expertise in AI-driven trading, governance and 

 (DApps), helping promising startups refine their solutions and achieve long-term sustainability.

What is the Bybit AI-DOL SUPERSTAR event?

The Bybit AI-DOL SUPERSTAR Trading Battle is a unique event that merges artificial intelligence (AI) with blockchain, creating a competitive space for AI-driven crypto projects to gain visibility and adoption.

This event not only fosters innovation in AI and blockchain, but also rewards participants who engage in trading and voting.

The mentorship program is a core pillar of the AI-DOL Trading Battle, pairing AI startups with experienced industry leaders. These mentorships help AI projects refine their algorithms, governance models and trading strategies — key factors for long-term success in web3.

Here’s a look at the five key AI mentors shaping the future of AI-powered crypto:

Luna by Virtuals (LUNAI) — the AI-driven digital performer

Luna by Virtuals is a livestreaming AI influencer built on Virtuals Protocol. Originally part of an AI-powered K-pop group, Luna has over 500,000 TikTok followers, showcasing that AI-driven personalities can thrive in entertainment and web3.

Luna by Virtuals demonstrates the power of AI in digital engagement, which explores AI-driven media, decentralized content creation and tokenized engagement models. This highlights the intersection of AI, blockchain and social influence in web3.

Top Hat (HAT) — the no-code AI agent builder

Top Hat is a Solana-based AI launchpad that enables anyone to create AI agents and tokens without coding expertise. It features simplified crypto analytics, algorithmic trading and token automation, making AI technology accessible to non-technical users.

Top Hat focuses on market predictions, algorithmic trading and smart contract automation. This empowers startups to develop scalable and efficient AI trading solutions for web3.

Cookie DAO (COOKIE) — web3 AI governance and data intelligence

Cookie DAO is a decentralized AI and data governance platform that optimizes AI-driven marketing, analytics and web3 intelligence. It allows 

 data, improving automation and decision-making.

Cookie DAO integrates AI-powered governance models and data analytics into its blockchain projects, thus enhancing scalability and transparency.

ai16z (AI16Z) — AI research fund and web3 incubator

ai16z develops AI investment strategies, funding models and AI-powered blockchain applications, helping emerging projects secure financing and navigate the AI-driven crypto ecosystem. Its AI-focused venture capital and incubation platform combines community-driven funding with AI-powered decision-making, giving it a significant role in accelerating AI adoption in web3.

Alchemist AI (ALCH) — AI-powered no-code development

Alchemist AI is a decentralized AI development platform that enables natural language-based application creation. By leveraging AI and blockchain, it allows users to build, deploy and monetize AI models without expertise in coding.

Alchemist AI optimizes AI training models, automation frameworks and decentralized AI applications, bridging the gap between AI research and real-world blockchain adoption.

The AI-DOL Superstar Trading Battle isn’t just a competition — it’s a launchpad for AI innovation. Mentors help AI startups scale their projects by providing expert guidance, advanced trading strategies and governance models.

Ready to join the AI-DOL Superstar Trading Battle? 

, trade and vote — and support the next AI revolution in web3 now!

Beginner

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Who are the Mentors in Bybit’s AI-DOL SUPERSTAR?

Trump unveiled plans for the Bitcoin strategic reserve and US digital asset stockpile, signing Executive Order 14178. Find out how this works and the implications for Bitcoin and the crypto industry.

The US government has proposed recent initiatives for both a bitcoin strategic reserve and a US digital asset stockpile in order to create a national reserve of cryptocurrencies. The executive order, signed by President Donald Trump on Mar 7, 2025, aims to secure the country’s place in the fast-evolving crypto space. The strategic reserve would include Bitcoin (BTC), the largest cryptocurrency by market capitalization, while the digital asset stockpile would include other digital assets apart from BTC. 

This article dives into Trump’s vision for crypto, reserve and stockpile details, cryptocurrencies involved, the potential impact on crypto markets and Trump’s broader initiatives for the cryptocurrency industry.

Since his inauguration, President Trump has enthusiastically embraced cryptocurrencies. His administration has rolled out pro-crypto policies to encourage growth and innovation. One standout move was appointing David Sacks, a tech and finance expert, as “AI and Crypto Czar.” Sacks is steering the US toward a crypto-friendly future, overseeing policies that would boost digital assets. 

Trump has been vocal about his ambitions, declaring on his social media channel Truth Social that the US will become the “crypto capital of the world.”

 plans for the Bitcoin strategic reserve and US digital asset stockpile ahead of the first White House Crypto Summit in January 2025. He signed Executive Order 14178, directing the presidential Working Group to establish this digital stockpile. Think of it as a strategic petroleum reserve, but for crypto — a way to secure valuable assets for the nation’s future. 

 highlighted the move on X, calling it a game-changer. The reserve signals the government’s belief in crypto as a long-term economic tool.

How would a Bitcoin strategic reserve work?

A bitcoin strategic reserve as established in the executive order aims to establish Bitcoin as a strategic asset for the US, similar to a 

, highlighting its potential as a store of value.

The reserve's capital would come exclusively from Bitcoin that the federal government already owns, which it obtained through civil and criminal asset forfeiture proceedings, such as seizures from illegal activities (i.e., drug trafficking, money laundering and cybercrimes). This ensures that no new Bitcoin is purchased with public funds for the initial reserve, and that there's no additional cost to taxpayers.

Estimates suggest the US government currently holds around 200,000 Bitcoin (worth approximately $16.5 billion at current market prices). However, a full audit is required, as mandated by the executive order, since there is no official accounting of these holdings.

Furthermore, the government of the United States has established a policy not to sell any Bitcoin that’s added to a Bitcoin strategic reserve. This policy intends to safeguard the value of Bitcoin over the long term, and to avoid financial losses that could occur from selling the cryptocurrency prematurely. 

 Sacks, previous instances of early Bitcoin sales resulted in losses exceeding $17 billion.

Finally, the executive order authorizes the secretaries of the Treasury and Commerce departments to develop “budget-neutral strategies” for acquiring additional Bitcoin, but only if these strategies impose no incremental costs on American taxpayers. This could involve mechanisms like using future forfeiture proceeds or other cost-free methods, but no specific plans or timelines for additional purchases have been detailed.

Alongside the main crypto strategic reserve, a new executive order was also established: the US digital asset stockpile, which would include other cryptocurrencies (beyond Bitcoin) seized through legal actions, as noted in 

Unlike the initial crypto reserve, it wouldn’t actively buy new assets, but would manage existing holdings responsibly under the Department of the Treasury. The goal (per the White House fact sheet) would be to centralize and maximize the value of these assets, ensuring proper oversight and avoiding past losses from premature sales.

 by roughly 5% to $85,000 on Mar 7, 2025, possibly triggered by the announcement and expectations of larger government purchases of BTC, or even a more aggressive strategy. Over the past week, Bitcoin has declined by 11.8% amid a broader market sell-off.

Trump isn’t just talking about crypto — he’s actually acting on it. Beyond the reserve, his administration has pushed forward, for example, with regulatory changes that include the dropping of multiple enforcement cases against crypto firms, easing the way for innovation.

Since Trump took office, the SEC has backed off from several crypto enforcement actions. Dropping these cases has lifted a cloud of uncertainty, giving companies room to experiment and grow. It’s a clear sign of a more relaxed regulatory stance, aligning with Trump’s push to nurture the crypto industry instead of stifling it.

Could these actions spark a global arms race for Bitcoin?

Trump’s crypto strategic reserve, now expanded with the Bitcoin strategic reserve and US digital asset stockpile, marks a defining moment for digital assets in America. 

By planning to stockpile Bitcoin and other seized assets, the US is staking its claim in the global crypto race and recognizing Bitcoin as a legitimate asset. This 

 to consider allocating capital to Bitcoin. 

 that this executive order is merely Trump fulfilling his obligations to the crypto crowd, arguing it’s more symbolic than transformative, akin to the 2021 

 launch, rather than the impactful January 2024 Spot Bitcoin ETF launch. Only time will tell if this move will herald a paradigm shift in global Bitcoin adoption.

bitcoin strategic reserve, digital asset stockpile

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Understanding Trump's crypto executive order: Bitcoin strategic reserve and US digital asset stockpile

In this article, we’ll delve into Bybit Pay to discover its purpose, benefits and robust ecosystem, which caters to individuals, merchants and businesses alike.

As cryptocurrencies continue to gain mainstream adoption, the one field where they still lag behind is in daily use. Most coins and tokens are treated as speculative assets or long-term investments, not as a medium of exchange. The biggest impediment to such adoption is the lack of payment solutions designed to seamlessly merge the advantages of cryptocurrencies with the reliability of the traditional banking system.

In order to change this situation, we need a payment solution that bridges the traditional banking system and 

 to provide a seamless payment solution for the end user. The world’s second-largest cryptocurrency exchange, 

, has launched Bybit Pay with that precise goal in mind. 

Traditional financial systems and blockchain-based ecosystems have long operated in silos, creating friction for users and businesses alike. 

 aims to bridge these barriers, allowing anyone to transact effortlessly across both worlds.

Bybit Pay supports payments in eight cryptocurrencies (including Bitcoin, Ethereum and USDT) and the Brazilian real, and has already integrated with 

 the popular BCB-created payment platform, with more integrations likely to follow in the future.

The biggest advantage of Bybit Pay is that it acts as a bridge between fiat currency and crypto. Bybit Pay allows users and merchants to conduct transactions without worrying about the technical and regulatory challenges that typically accompany crypto payments. By converting crypto to fiat (and vice versa) in real time, the platform ensures that both transacting parties experience minimal friction when a payment is made.

Bybit Pay also unifies merchants, payment processors and service providers worldwide through a single, integrated platform. For example, a retailer in Brazil can effortlessly accept payments via Pix’s local QR code–based system without needing to understand web3, since transactions are seamlessly processed through Bybit’s infrastructure.

Merchants who support Bybit Pay tap a user base of over 60 million Bybit users globally, a large and active community that creates a network effect to benefit customers and merchants alike. The platform’s seamless integration enables merchants to reach a global audience, breaking geographical barriers that often limit growth in traditional markets. Additionally, accepting cryptocurrencies allows businesses to stay ahead of the curve by being early adopters of a payment system that could potentially redefine financial transactions.

Bybit Pay enhances user experience by simple and easy integration with 

. This allows users to keep control of their digital assets, while bridging for traditional payments.

Traders can also use Bybit Pay’s collateralized payment tool to pledge their crypto and borrow the required fiat currencies. Together, these features provide users with the ease of use of traditional finance combined with the financial flexibility of cryptocurrencies. 

Bybit Pay has developed an impressive suite of ecosystem system products that reinforce its crypto payment advantages. These include:

Bybit Pay also provides tailored solutions for businesses to streamline crypto adoption. Its merchant acquiring system offers e-commerce platforms and other businesses low-fee cryptocurrency payment processing, and enables real-time settlements in both crypto and fiat currencies. 

For developers, the API Open Platform provides a flexible tool kit that allows them to embed Bybit Pay’s infrastructure into apps, websites or custom platforms. 

Together, these tools make it easy for businesses of all sizes to tap into the global crypto user base without overhauling their existing systems.

Bybit Pay also goes beyond payments to help users grow their assets, acting as a one-stop investment center that merges spending flexibility with earning potential. Bybit Pay lets users deposit idle funds into flexible savings products to generate yield. Yields vary depending upon demand, but as of March 2025, USDT deposited for a flexible term could generate a 6.45% yield on the 

. This dual functionality ensures liquidity for daily transactions while maximizing returns. 

To further incentivize engagement, the platform also offers exclusive discounts and cashback rewards on purchases, creating a loyalty loop that benefits frequent users. High–net worth individuals gain further advantages through 

. This includes elevated cashback rates, priority access to new features and tailored discounts on premium products. 

These layered incentives not only enhance user retention, but also position Bybit Pay as a complete financial ecosystem in which spending and wealth-building can seamlessly coexist.

In late January 2025, Bybit announced the 

. This service offers a cutting-edge payment solution and integrates seamlessly with Pix, Brazil’s leading payment system. 

To celebrate this launch, Bybit Pay is hosting a 

 from Feb 28–Mar 31, 2025, blending Brazil’s festive spirit with crypto incentives. Every time a user spends 50 USDT or 250 BRL via Bybit Pay, they earn entry into a prize pool featuring luxury gadgets like an iPhone 16 Pro or PlayStation 5, or thousands of USDT 

. The more you spend, the higher your chances of winning.

Bybit Pay has the potential to make cryptocurrency payments as simple as traditional fiat payments. By merging web3 flexibility with traditional payment infrastructure, it empowers merchants and users to transact globally without sacrificing familiarity or liquidity. Its recent expansions — such as its Brazil launch and Carnival-themed incentives — reward participation while demonstrating how easily the platform integrates into daily life. 

Users can take advantage of current initiatives by registering for the 

 event. Merchants who want to integrate Bybit Pay and benefit from its vast customer base can use the 

bybit pay.png

Bybit Pay: Bridging the gap between traditional finance and the crypto world

Bybit Learn

Altcoins

An Ethereum killer is a blockchain that addresses the known challenges of Ethereum and attempts to eventually replace it in the crypto market. Read more here.

 has been disrupting the financial world for many years, and its applications extend to accounting, auditing, peer-to-peer transactions, 

 and more. These and other uses are supported through the secure and private transactions that blockchains process, but these blockchains vary in bold ways. One of the more notable and established blockchains is 

, but Ethereum’s reign is being challenged by others touted as “Ethereum killers.”

The Ethereum blockchain is the brainchild of Vitalik Buterin. It was launched in July 2015. It currently has more than 11,900 active nodes. Recently, Ethereum completed its 

. Among other things, the Merge has successfully reduced the blockchain’s energy consumption by 

There’s an unlimited max supply of Ethereum tokens (ETH). As of Apr 4, 2023, ETH is valued at $1,812.99, and its market cap is $218.60 billion. Some of Ethereum's shortcomings are slow transaction processing times and high 

The Ethereum development team is attempting to overcome Ethereum's shortcomings through a series of upgrades. However, these upgrades have been slow in coming, so ETH killers are taking advantage of the lengthy timeline and are jockeying for a top position in the crypto market. Most ETH killers offer improved transaction processing times and much lower fees.

However, ETH killers are unique in their features and functionality. While ETH killers often receive ample attention at the outset, none have yet been successful in their attempts to dethrone the Ethereum ecosystem.

) ecosystems that have generally been designed as Layer 1 platforms, although some 

 can be considered ETH killers as well. While they all share some similarities with the Ethereum ecosystem, they also have standout traits and features that give them strategic advantages over Ethereum. Many of the top ETH killers today have been active for years and are relatively popular, but it remains to be seen if any of them will one day supercede the Ethereum blockchain.

 launched as an alternative to Ethereum, it stood out with greater efficiency due to its 

 consensus mechanism. This is similar to the PoS protocol, but it uses time stamping to facilitate faster processing times. In fact, it’s capable of processing more than 4,000 transactions per second. According to Etherscan, Ethereum can only process 13.2 transactions per second (

). Solana also has substantially lower fees than Ethereum. 

Currently, Solana is predominantly used for NFTs and gaming. In fact, it takes second place to Ethereum with an NFT sales volume of $4.46 million, which is more than four times lower than that of Ethereum. As of Apr 4, 2023, the current market cap of SOL is $7.95 billion. Solana suffered considerably due to the recent 

, but it maintains fundamental strength. Looking forward, Solana will be focusing on launching a 

, which uses a PoS protocol. At a speed of 1,000 TPS, Polkadot isn’t faster than Solana. However, it surpasses Ethereum in actual speed. Polkadot functions with a heterogeneous, multi-chain architecture, which enables several chains to exist on one relay chain. This architecture bolsters the security of the blockchain and enhances scalability. In addition, developers can create parachains, which are their own blockchains. As of Apr 4, 2023, DOT’s market cap is $7.83 billion.

 launched in 2017 and is a Layer 2 solution that uses the Ethereum blockchain. However, its platform provides users with higher scalability and flexibility and lower transaction fees. It also gives users the ability to own their blockchains, while also offering the security and other benefits of Ethereum. In addition, Polygon facilitates communications between various blockchains, including Ethereum. As of Apr 4, 2023, MATIC’s market cap is $10 billion.

 is an ETH killer that uniquely uses the 

 mechanism, which allows it to process a greater number of transactions than the Ethereum blockchain can handle. In addition, Cardano supports smart contract functions as well as DeFi projects. 

Cardano’s blockchain launched in 2017, benefiting from its Alonzo upgrade in 2021 and subsequent 

 upgrade in 2022. The former upgrade allows for improved programming so that the Cardano blockchain is more suitable for NFTs and smart contract projects, while the latter upgrade allows Cardano to become more robust and scalable to improve the overall functionality of the blockchain. Cardano also uses a peer review system for quality control after upgrades are made. This blockchain can execute up to 250 TPS, and its market cap is $13.69 billion as of Apr 4, 2023.

 is another PoS Ethereum killer. It uniquely integrates three interoperable blockchains together, giving it greater scalability than the Ethereum blockchain and other ETH killers. Currently (as of Apr 4, 2023) its market cap is $5.6 billion. 

 launched in 2017, it was compatible with both smart contracts and decentralized apps (

). Uniquely, its user-friendly design enables developers to create and scale projects without an extensive amount of coding and technical expertise. Developers have free access to a wide range of tools. 

 has no transaction fees, and a half-second block time. This blockchain uses specialized software that makes it adaptable, scalable and fast. In addition to its software, 

 operates with a delegated proof of stake (

) mechanism. It features a rewards mechanism for validators that uses newly minted tokens, and it functions with decentralized governance. The market cap for the EOS token as of Apr 4, 2023 is $1.3 billion.

 utilizes both PoS and liquid proof of stake (

) mechanisms that differentiate it from the Ethereum blockchain. In addition, it’s self-governed, which places its users at the helm when deciding which upgrades to make going forward. Tezos also supports DeFi and NFT projects. 

Its utility has yielded notable projects in art, gaming, music and fashion in recent years. In addition, this blockchain is widely recognized by developers for its enhanced security. Tezos operates with community governance, so voting rights are granted to token holders. As of Apr 4, 2023, its market cap is $1.04 billion.

 is different from other ETH killers in its use of a directed acyclic graph (

) network. DAG is a superior variation of the PoS mechanism used by Ethereum in that it’s more efficient, has lower fees and offers enhanced scalability. Other DeFi projects can be built on this Layer 1 platform. FTM’s market cap as of Apr 4, 2023 is $1.24 billion.

 is an open-source network that’s specifically designed to store, create and send all types of money in their digital formats. It uses a digital ledger to support micropayments, global payments and asset exchanges. Its ledger is updated every five seconds or less. Stellar can process 200 TPS. The 

 (FBA) protocol used by Stellar supports cheaper, faster and more energy-efficient transactions as compared to Ethereum. As of Apr 4, 2023, XLM’s market cap is $2.83 billion.

 is a unique network that’s well-known for its 

 technology, which enables ETH token holders to operate on both the Ethereum and NEAR chains. NEAR Protocol is an open-source, PoS project that’s centered around smart contracts. Compared to Ethereum, NEAR’s fees are 10 times lower. This platform also stands out because of its commitment to its community, and to the creation of more developer applications. The market cap for NEAR is $1.7 billion as of Apr 4, 2023.

There are many ETH killers in existence today. Each one attempts to be a better alternative to Ethereum. While these other blockchains have collectively taken a sizable chunk of the crypto market share away from Ethereum, Ethereum continues to hold a substantial amount of the blockchain share compared to any other single platform. 

As is the case with Ethereum, ETH killers have planned upgrades that will raise their appeal further. These upgrades could draw more attention away from Ethereum, and other ETH killers will likely arrive on the scene to further fracture the market share. With this in mind, it may be increasingly challenging for any single blockchain to be as dominant as Ethereum once was. It’s reasonable to speculate that there may continue to be multiple DeFi and NFT blockchains, each with its standout traits and benefits.

While Ethereum has maintained its edge over other blockchains thus far, it has been negatively impacted by this competition in the crypto market. As of August 2020, Ethereum dominated the DeFi space with 94.9% of activity. By May 2021, this had declined dramatically to roughly 64%.

ETH killers currently have strategic advantages over Ethereum, such as greater scalability, faster transaction speeds and cheaper costs. Until these issues have been addressed through planned Ethereum upgrades, ETH killers will likely continue to gain a greater share of the market. Even if Ethereum’s upgrades put it on par with ETH killers in these key areas, it’s not clear if Ethereum will be able to build up its market share to its previous level.

However, Ethereum does have an edge over the ETH killers in a critical area: While ETH killers have achieved superior scalability and speed by prioritizing these factors over security and decentralization, the result has been impugned security and performance. Ultimately, the blockchain network that’s able to address all of these issues properly will likely rise to the top.

ETH killers have gained ample attention in recent years because of various advantages, creating the potential to dethrone Ethereum. At the same time, however, even the top Ethereum killers have their own downfalls. It’s unlikely that any specific blockchain will consume the vast majority of the market share that Ethereum once did. With this in mind, ETH killers simply offer more options for developers and users to choose from.

Top ETH Killers: What Are They & Where Are They Now?

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