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The S&P 500 slid 3.1% last week, weighed down by trade policy uncertainty and global tensions. Gold held above $2,900, supported by Trump’s tariff threats and a weaker US jobs report. Coindesk Indices, which tracks the broader crypto market, fell 5.39% in the past 24 hours, with Bitcoin down 5.47% and Ether up 2.33%. Trade these markets and more with up to 500x leverage on Bybit MT5 using this link.
Today's top performer is IP, up 8.0% following the launch of Story Protocol’s IP Portal Public Preview.
Story Protocol (IP), founded in 2022, is a Layer 1 blockchain that tokenizes IP to ensure attribution, royalties, and fair creator compensation in an AI-driven economy. Story Protocol has launched the IP Portal Public Preview, the first step toward a decentralized IP monetization platform. Users can register IP, set licensing terms, manage assets, and opt in for AI training. Upcoming features include instant licensing, automated royalties via smart contracts, and dispute resolution. The platform aims to simplify and decentralize IP management while tailoring future updates to industry-specific needs.
Off the Grid's black market is thriving as players trade skins and GUN tokens for real money ahead of the GUNZ L1 mainnet launch. With official on-chain trading still unavailable, players turn to Discord groups and OTC deals, some exceeding $60,000. Despite risks, many believe item values will surge post-launch. Gunzilla Games aims to enable official trading by Q1 2025, but until then, underground markets continue to grow.
Date | GBTC (M USD) | Non-GBTC (M USD) | Total (M USD) |
03 March 2025 | (54.4) | (19.8) | (74.2) |
04 March 2025 | 0.0 | (143.5) | (143.5) |
05 March 2025 | 0.0 | 22.1 | 22.1 |
06 March 2025 | (34.5) | (99.8) | (134.3) |
07 March 2025 | (36.5) | (372.8) | (409.3) |
Total (weekly) | (125.4) | (613.8) | (739.2) |
Current Total (from inception): | (22,421) | 58,635 | 36,214 |
BTC Spot ETFs saw $739.2M in net outflows this week, with GBTC losing $125.4M and non-GBTC funds shedding $613.8M. The largest outflow occurred on March 7, with $409.3M withdrawn. Since inception, BTC Spot ETFs have recorded $36.2B in net inflows, as non-GBTC funds gained $58.6B, offsetting GBTC’s $22.4B in losses.
Cytonic, a Layer 1 Multi-VM blockchain enabling seamless interoperability across Bitcoin, Ethereum, and Solana, has launched its airdrop event. Users can earn Flames (points) by opening chests using Energy generated from deposits, with $200 recommended for better rewards. Deposits are supported across multiple chains, and withdrawals take 5 days. Complete tasks, open chests, and stay tuned for future lottery events to maximize rewards.