Market Updates on March 29

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Bitget2024/03/29 04:00

By:Bitget

Market Fundamentals
1. The market is on an upward trend, mainly influenced by the preference of American funds. The United States is gradually controlling Web3 from a compliance perspective: SBF has been sentenced to 25 years in prison and fined $11 billion, while CZ's sentencing is still pending; Kucoin faces accusations.
2. US stocks are volatile, with the market awaiting the release of PCE inflation data.

Market Focus
1. Meme coins such as DOGE, FLOKI, WIF, BOME, and DEGEN have all seen significant increases. Coinbase plans to launch DOGE futures trading on April 1st. DEGEN, a Meme coin on Base Chain, will enter L3 public chain. Recent outstanding performers are mostly Solana and Base ecosystem projects favored by American funds.
2. Public chain REI prices surged as they partnered with Openaitask for transformation into the AI field.
3. Merlinswap launched mp products with a market value reaching $200 million. However, recently prices of assets on Merlin Chain like Blue Box started plummeting from 0.8 BTC to 0.4 BTC.
4.Solana platform initiated Parcl airdrop activity for RWA (Real World Asset), which is a real estate index trading project.Wormhole cross-chain bridge also conducted an airdrop activity where there might be bigger opportunities in Wormhole platform for traders

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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The Federal Reserve's Beige Book shows little change in U.S. economic activity, with increasing divergence in the consumer market. JPMorgan predicts a Fed rate cut in December. Nasdaq has applied to increase the position limit for BlackRock's Bitcoin ETF options. ETH has returned to $3,000, signaling a recovery in market sentiment. Hyperliquid has sparked controversy due to a token symbol change. Binance faces a $1 billion terrorism-related lawsuit. Securitize has received EU approval to operate a tokenization trading system. The Tether CEO responded to S&P's credit rating downgrade. Large Bitcoin holders are increasing deposits to exchanges. Summary generated by Mars AI. The accuracy and completeness of this summary are still being iteratively improved by the Mars AI model.

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