Uncategorized
Crypto Daybook Americas: CAKE, TKX Add Spark as Bitcoin Treads Water Before Fed

By Omkar Godbole (All times ET unless indicated otherwise)
Bitcoin (BTC) traded around its 200-day average of $84,000 as the notorious Hyperliquid whale exited its multimillion dollar short BTC position. Smaller coins like CAKE, TKX, OKB and ATOM contributed to market optimism with positive performances.
The SUI token struggled to extend Monday’s 6% surge, which was spurred by asset managers’ ETF filings with the SEC, showcasing growing institutional interest in the wider crypto market.
While some analysts declared the end of the bitcoin bull run, casting doubt about the sustainability of the recent bounce, data indicated otherwise, pointing to exhaustion in the ETF-led selling pressure.
On Monday, U.S.-based spot bitcoin ETFs attracted $275 million in investor funds, building on Friday’s $41 million influx. That’s the first back-to-back inflows since Feb. 7, according to data tracked by Farside Investors.
«This data reinforces the narrative that ETF-driven selling pressure is exhausting,» said Valentin Fournier, an analyst at BRN. «If this trend continues, we could see inflows gradually build momentum, further supporting bitcoin’s price.»
The Fed’s rate decision on Wednesday could introduce volatility into the crypto market with a dovish statement possibly spurring increased risk-taking.
«Post-FOMC, bitcoin is expected to trade within the range of $80,000 to $86,000 with 80% confidence, while ethereum is projected to fluctuate between $1,800 and $2,100 under the same confidence level,» according to Ryan Lee, chief analyst at Bitget Research. «These ranges reflect potential movements tied to macroeconomic signals, investor sentiment, and broader financial conditions.»
In traditional markets, European stocks edged higher before a German parliamentary vote on historic debt reforms. Gold remained firm above $3,000 per ounce, with BlackRock calling the yellow metal a better diversifier than Treasury notes in the ongoing macro environment.
Meanwhile, futures tied to the Nasdaq, S&P 500 and Dow traded unchanged to negative amid reports that the Trump-Putin call regarding the Ukraine peace deal would take place between 13:00 and 15:00 GMT. Stay alert!
What to Watch
Crypto:
March 18: Zano (ZANO) hard fork network upgrade; this activates “ETH Signature support for off-chain signing and asset operations.”
March 20: Pascal hard fork network upgrade goes live on the BNB Smart Chain (BSC) mainnet.
March 21, 1:00 p.m.: The SEC’s Crypto Task Force hosts a roundtable, open to the public, that will focus on the definition of a security.
March 24 (before market open): Bitcoin miner CleanSpark (CLSK) will join the S&P SmallCap 600 index.
March 24, 11:00 a.m.: Bugis network upgrade goes live on Enjin Matrixchain mainnet.
March 25: The Mimir upgrade goes live on Chromia (CHR) mainnet.
Macro
March 18, 8:30 a.m.: Statistics Canada releases February consumer price index (CPI) data.
Core Inflation Rate MoM Prev. 0.4%
Core Inflation Rate YoY Prev. 2.1%
Inflation Rate MoM Est. 0.6% vs. Prev. 0.1%
Inflation Rate YoY Est. 2.1% vs. Prev. 1.9%
March 18, 8:30 a.m.: The U.S. Census Bureau releases February residential construction data.
Housing Starts Est. 1.38M vs. Prev. 1.366M
March 18, 11:00 p.m.: The Bank of Japan (BoJ) releases its monetary policy statement.
Interest Rate Est. 0.5% vs. Prev. 0.5%
March 19, 6:00 a.m.: Eurostat releases (final) February eurozone consumer price index (CPI) data.
Core Inflation Rate YoY Est. 2.6% vs. Prev. 2.7%
Inflation Rate MoM Est. 0.5% vs. Prev. -0.3%
Inflation Rate YoY Est. 2.4% vs. Prev. 2.5%
March 19, 2:00 p.m.: The Federal Reserve announces its interest rate decision. The FOMC press conference is live-streamed 30 minutes later.
Fed Funds Interest Rate Est. 4.5% vs. Prev. 4.5%
March 19, 3:00 p.m.: Argentina’s National Institute of Statistics and Census releases GDP data.
Full Year GDP Growth (2024) Prev. -1.6%
GDP Growth Rate QoQ (Q4) Prev. 3.9%
GDP Growth Rate YoY(Q4) Est. 1.7% vs. Prev. -2.1%
March 19, 5:30 p.m.: The Central Bank of Brazil announces its interest rate decision.
Selic Rate Est. 14.25% vs. Prev. 13.25%
Earnings (Estimates based on FactSet data)
March 27: KULR Technology Group (KULR), post-market
March 28: Galaxy Digital Holdings (GLXY), pre-market
Token Events
Governance votes & calls
Arbitrum DAO is voting on registering the “Sky Custom Gateway contracts” in the “Router contracts” to enable users to bridge USDS and sUSDS through the official Arbitrum Bridge UI.
Frax DAO is voting on introducing the WisdomTree Government Money Market Digital Fund (WTGXX) as an on-chain reserve for Frax USD.
March 18, 8 a.m.: Binance to host an AMA session with VP of Product Jeff Li and Binance Angel Victor Balaban.
March 18, 9 a.m.: NEAR Protocol to host a governance talk session.
March 21, 11:30 a.m.: Flare to host an X Spaces session on Flare 2.0.
Unlocks
March 21: Immutable (IMX) to unlock 1.39% of circulating supply worth $13.96 million.
March 23: Metars Genesis (MRS) to unlock 11.87% of its circulating supply worth $242.9 million.
March 31: Optimism (OP) to unlock 1.93% of its circulating supply worth $27.47 million.
April 1: Sui (SUI) to unlock 2.03% of its circulating supply worth $147.65 million.
April 3: Wormhole (W) to unlock 47.7% of its circulating supply worth $121.48 million.
April 7: Kaspa (KAS) to unlock 0.59% of its circulating supply worth $11.28 million.
Token Listings
March 18: Jupiter (JUP) to be listed on Arkham.
March 18: Paws (PAWS) to be listed on Bybit.
March 18: Slingshot (SLING) to be listed on KuCoin.
March 19: Hamster Kombat (HMSTR) and DuckChain (DUCK) to be listed on Kraken.
March 31: Binance to delist USDT, FDUSD, TUSD, USDP, DAI, AEUR, UST, USTC, and PAXG.
Conferences
CoinDesk’s Consensus is taking place in Toronto on May 14-16. Use code DAYBOOK and save 15% on passes.
Day 1 of 3: Digital Asset Summit 2025 (New York)
Day 1 of 3: Fintech Americas Miami 2025
March 19-20: Next Block Expo (Warsaw)
March 24-26: Merge Buenos Aires
March 25-26: PAY360 2025 (London)
March 25-27: Mining Disrupt (Fort Lauderdale, Fla.)
March 26: Crypto Assets Conference (Frankfurt)
March 26: DC Blockchain Summit 2025 (Washington)
March 26-28: Real World Crypto Symposium 2025 (Sofia, Bulgaria)
March 27: Building Blocks (Tel Aviv)
March 27: Digital Euro Conference 2025 (Frankfurt)
March 27: WIKI Finance EXPO Hong Kong 2025
March 27-28: Money Motion 2025 (Zagreb, Croatia)
March 28: Solana APEX (Cape Town)
Token Talk
By Shaurya Malwa
Hackers attacked BNB Chain’s Four.meme launch platform, exploiting new meme tokens to drain liquidity by bypassing listing restrictions and creating unauthorized trading pairs on PancakeSwap, siphoning off funds around 04:00 GMT.
The attack preempted Four.meme’s curated token launches, buying small token amounts pre-launch, adding liquidity to PancakeSwap pairs, and rug-pulling them, targeting popular tokens like MubaraKing (87.90 BNB stolen) and others such as EDDY and Cocoro.
Four.meme suspended new token launches and promised compensation for affected users, though no smart contract vulnerability was found. Leaked early transactions enabled the hacker’s front-running, according to analyst Chaofan Shou.
The attack exploited a flawed token function allowing transfers during the bonding curve stage, a recurring flow cell manipulation issue, potentially affecting all Four.meme tokens despite only a few being hit due to their popularity.
Derivatives Positioning
Open interest in ETH, LTC, XRP and SOL perpetual futures increased in the past 24 hours alongside a flat-to-negative cumulative volume delta (CVD), indicating net selling in the market.
SOL, ADA and DOGE have also seen negative funding rates.
Both open interest and basis in BTC and ETH CME futures remain depressed at recent lows, suggesting a lack of confidence among institutions to deploy capital.
Deribit’s BTC and ETH options continue to showcase put skews for expiries out to end of April.
Market Movements:
BTC is down 1.62% from 4 p.m. ET Monday at $82,676.40 (24hrs: -0.81%)
ETH is down 2.29% at $1,892.55 (24hrs: -1.1%)
CoinDesk 20 is down 2.25% at 2,582.56 (24hrs: -1.46%)
Ether CESR Composite Staking Rate is unchanged at 2.96%
BTC funding rate is at 0.0036% (3.89% annualized) on Binance
DXY is unchanged at 103.28
Gold is up 0.76% at $3,020.72/oz
Silver is up 0.82% at $34.07/oz
Nikkei 225 closed +1.2% at 37,845.42
Hang Seng closed +2.46% at 24,740.57
FTSE is up 0.44% at 8,715.59
Euro Stoxx 50 is up 0.85% at 5,491.99
DJIA closed on Monday +0.85% at 41,841.63
S&P 500 closed +0.64% at 5,675.12
Nasdaq closed +0.31% at 17,808.66
S&P/TSX Composite Index closed +0.94% at 24,785.11
S&P 40 Latin America closed +1.76% at 2,475.69
U.S. 10-year Treasury rate is down 1 bp at 4.31%
E-mini S&P 500 futures are down 0.29% at 5,715.75
E-mini Nasdaq-100 futures are down 0.38% at 19,963.00
E-mini Dow Jones Industrial Average Index futures are down 0.27% at 42,112.00
Bitcoin Stats:
BTC Dominance: 61.66 (-0.03%)
Ethereum to bitcoin ratio: 0.02285 (-0.31%)
Hashrate (seven-day moving average): 805 EH/s
Hashprice (spot): $47.08
Total Fees: 4.68 BTC / $386,699
CME Futures Open Interest: 151,030 BTC
BTC priced in gold: 27 oz
BTC vs gold market cap: 7.68%
Technical Analysis
The dollar index’s (DXY) decline continues with the key 61.8% Fibonacci retracement support breached in a positive sign for risk assets.
The breakthrough has exposed the next support at 102.32, representing the 78.6% Fibonacci level.
Crypto Equities
Strategy (MSTR): closed on Monday at $294.27 (-1.08%), down 1.54% at $289.75 in pre-market
Coinbase Global (COIN): closed at $188.96 (+3.19%), down 1.55% at $186.21
Galaxy Digital Holdings (GLXY): closed at C$17.35 (-3.5%)
MARA Holdings (MARA): closed at $12.97 (-1.59%), down 1.39% at $12.79
Riot Platforms (RIOT): closed at $7.76 (-0.77%), down 1.16% at $7.67
Core Scientific (CORZ): closed at $8.76 (-0.57%), down 0.8% at $8.69
CleanSpark (CLSK): closed at $8.12 (+1.88%), down 1.23% at $8.02
CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed at $15.37 (+0.46%)
Semler Scientific (SMLR): closed at $36.03 (+4.89%), up 2.19% at $36.82
Exodus Movement (EXOD): closed at $32.35 (+15.33%), unchanged in pre-market
ETF Flows
Spot BTC ETFs:
Daily net flow: $274.6 million
Cumulative net flows: $35.67 billion
Total BTC holdings ~ 1,120 million.
Spot ETH ETFs
Daily net flow: -$7.3 million
Cumulative net flows: $2.53 billion
Total ETH holdings ~ 3.509 million.
Source: Farside Investors
Overnight Flows
Chart of the Day
Pump.fun is a Solana-based marketplace widely used to create and distribute tokens, primarily memecoins.
Daily token deployment activity cooled to 29,475 transactions on Monday, down from 71,738 on Jan. 23.
Its a sign that the broader market slide has cooled speculative activities.
While You Were Sleeping
Bitcoin’s Bull Market Cycle Is Over, CryptoQuant’s Ki Young Ju Says (CoinDesk): Ki Young Ju forecasts 6-12 months of bearish or sideways price action due to declining market liquidity in a report suggesting BTC could drop to $63,000.
Metaplanet Continues Bond Issuance for Bitcoin Buys (CoinDesk): The Japanese firm issued 2 billion yen ($13.4 million) in zero-interest bonds using some of the proceeds to buy 150 BTC for $12.5 million.
Bitcoin Storm Could Be Brewing, Crypto OnChain Options Platform Derive Says (CoinDesk): Derive warned that market calm may be short-lived, citing uncertainty over Ukraine’s ceasefire and potential regulatory shifts under the Trump administration as triggers for volatility.
German Bonds Fall Ahead of Historic Vote on Fiscal Bazooka (Bloomberg): German bond yields rose ahead of Tuesday’s parliamentary vote on a major spending package amid concerns over rising debt issuance and inflation risks.
Trump Team Explored Simplified Plan for Reciprocal Tariffs (The Wall Street Journal): Trump officials debated a simplified three-tier system for reciprocal tariffs before opting for an individualized approach, with the final plan expected by April 2 alongside new industry-specific duties.
Europe’s defense spending spree risks debt crisis, warns Dutch politician (Financial Times): Pieter Omtzigt warned that the EU’s 800 billion euro ($875 billion) defense plan could lead to unsustainable debt and potentially trigger another eurozone sovereign-debt crisis.
In the Ether
Uncategorized
Michael Saylor’s Strategy Funding More Bitcoin Purchases With New Preferred Stock

Strategy (MSTR) Tuesday morning unveiled its latest twist at raising funds from capital markets to fund additional bitcoin (BTC) purchases, but there are indications the Wall Street spigot is slowing.
The company’s Perpetual Strife Preferred Stock (STRF) offers a fixed 10% annual cash dividend, paid quarterly, according to an SEC filing If dividends are unpaid, they compound at an additional 1% per year (quarterly), up to a maximum of 18%. The first dividend payment is scheduled for June 30, 2025.
Strategy’s initial preferred series (STRK) initially offered only an 8% interest rate. And Strategy’s series of convertible debt offerings came with negligible or even 0% interest rates (different product than preferred, of course).
Unlike common stock, STRF holders do not have voting rights but have priority in liquidation with a $100 per share liquidation preference. Strategy has the right to redeem STRF if fewer than 25% of the original shares remain or if tax events occur, while holders can demand a buyback in case of a fundamental change.
STRF is expected to trade on Nasdaq within 30 days of issuance, offering investors bitcoin exposure with a high-yield structure. Morgan Stanley, Barclays, Citigroup, and Moelis & Company are joint book-running managers for the offering, conducted under an SEC shelf registration.
After buying bitcoin at a galloping pace over the past several months, Strategy’s fundraising and token acquisitions have slowed to a crawl in recent weeks. The company last week did make additional bitcoin purchases, but they were hardly needle-moving — just 130 BTC for $10.7 million to bring total holdings to 499,226 tokens.
MSTR is lower by 5% in early action Tuesday alongside a slide in markets in general and bitcoin’s dip to $81,300 from $84,000 a day ago.
Uncategorized
BlackRock’s BUIDL, Superstate and Centrifuge Win Spark’s $1B Tokenized Asset Windfall

Tokenized Treasury products of BlackRock-Securitize, Superstate and Centrifuge are poised to receive allocations from $1 billion investment plan initiated by Sky, formerly MakerDAO, an initiative designed to accelerate the adoption of real-world asset (RWA) tokenization on Sky-adjacent decentralized finance (DeFi) lending platform Spark.
BUIDL, issued by BlackRock and Securitize and backed by U.S. Treasury bills and repurchase agreements, is set to receive $500 million allocation. Superstate’s USTB will get a $300 million. Centrifuge’s JTRSY, a T-bill fund in partnership with asset managers Anemoy and Janus Henderson, set to receive $200 million.
The selection process saw 39 applicants evaluated by advisory firm Steakhouse Financial, a key player in Spark’s ecosystem specializing in RWAs. Winners were chosen based on criteria including liquidity and capital efficiency. The final allocations will be market-driven and capped at $1 billion, Spark said in a press release.
Pending governance approval, the selected tokenized assets could be used as collateral for Sky’s native stablecoin USDS and its yield-bearing counterpart, sUSDS.
The protocol’s move is part of a larger trend of blockchain-based protocols integrating tokenized versions of traditional financial assets, or real-world assets, like bonds, funds and credit. In 2024, Sky announced plans to invest $1 billion in tokenized U.S. Treasury bills, attracting interest from a wide range of issuers.
The allocation will also lend a significant boost for the already fast-growing tokenized U.S. Treasuries market, which currently stands at $4.6 billion, according to rwa.xyz data.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
Uncategorized
Industrial Tech Giant Siemens Adopts IoT Blockchains From Minima

Siemens, Europe’s largest industrial technology company, is working with distributor ledgers for the internet of things (IoT) builder Minima, to embed blockchains into the German giant’s devices across the automotive, robotics and energy sectors.
Minima is working with Siemens Cre8Ventures division, an initiative to accelerate industrial transformation by collaborating with startups in the fields of AI, digital twins, cybersecurity, and more, the companies said in a press release on Tuesday.
A gradual evolution of computing capabilities towards the edges of networks has seen a greater need for security and data integrity to be embedded within these edge devices at scale, which is where IoT-level blockchains are useful
It’s an interesting shift since blockchain technology might have originally been thought of as the antithesis of large enterprises, in terms of being decentralized and removing all sorts of intermediaries, said Minima CEO Hugo Feiler.
“But as power goes to the edge on these devices, then even large enterprise clients need to make sure that there’s resilience through that,” Feiler said in an interview. “And so the ability for these large enterprise companies to run a decentralized system is mission critical for them as well. So, decentralization is not just cutting them out as middlemen, it’s also enabling them to get further out into the world to deliver the service.”
Minima announced late last year it was working with semiconductor giant ARM to develop a microchip with a decentralized ledger embedded in it. The partnership with Siemens, which followed on from Minima’s Arm deal, will further the sovereignty goals of the EU Chips Act, introduced in 2022 to reduce reliance on foreign chip manufacturers, Minima said.
“Minima enables IoT equipment to run a full node, so they can independently participate in a blockchain network without relying on external servers or centralised intermediaries, eliminating all central points of failure and ensuring fully decentralised security, data integrity, and trustless verification. Our collaboration brings groundbreaking AI capabilities, data integrity, and decentralised trust mechanisms to the Siemens Cre8Ventures Digital Twin Marketplace,” a Siemens representative said in a statement.
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