Bitcoin, Ethereum, Dogecoin Plunge As $650M Worth Of Crypto Liquidated In A Single Day: Analyst Predicts King Crypto Poised For Explosive Rally ‘As FOMO Greater Than Fear’

Major cryptocurrencies declined on Tuesday evening as a broader market correction liquidated over $650 million worth crypto in the last 24 hours.

CryptocurrencyGains +/-Price (Recorded 9:30 p.m. EDT)Bitcoin BTC/USD-4.44%$62,942Ethereum ETH/USD-5.42%$3,223Dogecoin DOGE/USD-4.36%$0.12

What Happened: The price of Bitcoin plummeted below $63,000, triggering a widespread sell-off across the global crypto market. 

In just 24 hours, the market capitalization dropped by 8% to reach $2.4 trillion, as reported by CoinMarketCap.

BitMEX Research data revealed an outflow of over $640 million from Grayscale’s spot Bitcoin ETF GBTC on March 18, marking the largest day of outflows since its trading debut…

Read more on Benzinga

NEW: Bitcoin Realized Profit Reaches ATH Despite Continued Market Accumulation

Bitcoin’s landscape has recently witnessed unprecedented growth and a strong indication of market maturity, spotlighted by two key metrics: realized profit and realized cap. March saw a remarkable milestone, with realized profit reaching a record $3.51 billion, as Bitcoin prices soared, indicating a high level of investor confidence. This was alongside the cryptocurrency breaking its all-time high, trading above $73,100.

Simultaneously, the realized cap, a more precise measure of Bitcoin’s market value, has steadily increased to $528.32 billion, revealing continued investment and belief in Bitcoin’s long-term potential. This growth diverges from the volatile market cap, showcasing a stable base of accumulation.

These indicators highlight the resilience of the Bitcoin market. Despite short-term price movements, the underlying trend is one of robust accumulation and confidence. This evolving landscape suggests a maturing market where strategic, long-term investments overshadow fleeting speculative interests, paving the way for sustained growth.

Glassnode

This Trader Lost $784,000 FOMO-Buying The Latest Hyped Meme Coin

A trader has reportedly suffered a significant loss of 3,731 SOL, equivalent to $775,000, within a span of an hour due to FOMO (Fear Of Missing Out) buying.

What Happened: According to a tweet posted on Tuesday, the trader spent 5,004 SOL to acquire 790,236 SLERF at its highest price point of $1.32.

After the price of SLERF plummeted, the trader further invested 2,500 SOL ($517,000) to purchase 650,330 SLERF at $0.80 during a price rebound. However, the price of SLERF experienced another drop following his purchase and the trader eventually offloaded all his SLERF for 3,774 SOL, worth $784,000.

This translates to a loss of 3,731 SOL or $775,000.

Another trader experienced a similar fate,…

Read more on Benzinga

Floki Defies Dip: ‘Dogecoin Rival’ Gains 2% Ahead Of Roadmap Announcements

Floki FLOKI/USD, considered a rival to Dogecoin, is holding onto its gains ahead of key announcements by the community and positive analyst sentiment surrounding the token.

What Happened: Floki’s official X (formerly Twitter) account reveals that the community has scheduled a Spaces session for a marketing announcement on Thursday, March 21, and a new roadmap reveal on Friday, March 22.

In a separate development on March 18, Floki announced that 3.7 billion FLOKI tokens, worth $772,234, were burned last week. This makes Floki perpetually deflationary compared to other meme coins like Dogecoin, Pepe, Shiba Inu, Bonk and Dogwifhat.

Over the past 24 hours, Floki gained 2%, making it the…

Read more on Benzinga

Bitcoin To $1M? ‘Insane Macro’ Will Make It Happen, Says Arthur Hayes: ‘It’s Time To Even Add More’

Arthur Hayes, co-founder of BitMEX and Chief Investment Officer at Maelstrom Fund, discussed the current macroeconomic environment and its impact on Bitcoin’s BTC/USD integration into the legacy financial system, forecasting its potential rise to a $1 million valuation.

What Happened: In an interview with Anthony Pompliano, Hayes delved into the macroeconomic conditions, saying “the macro environment is insane.”

“Real yields…are negative and have been negative since the global financial crisis,” he explained, emphasizing the imbalance between government bond yields and the economic growth rate.

This scenario, according to Hayes, incentivizes investors to seek alternatives that offer…

Read more on Benzinga

LATEST: Coinbase CEO Brian Armstrong Claims Custodianship of 90% US Bitcoin ETF Funds

Brian Armstrong, CEO of Coinbase, recently shared an optimistic view of Bitcoin and the broader cryptocurrency landscape during a Bloomberg TV interview. He discussed the unexpected positive effect of spot Bitcoin ETFs on Coinbase, revealing a significant $12 billion boost. Armstrong emphasized Coinbase’s crucial role, holding 90% of these ETFs’ assets, enhancing the platform’s stature beyond a simple exchange.

Armstrong envisions transforming Coinbase into a key player in the financial world, akin to a crypto-oriented bank, while avoiding traditional banking pitfalls. Despite regulatory challenges surrounding Ethereum ETFs, his outlook remains positive, foreseeing a similar trajectory to Bitcoin ETFs through strategic legal efforts.

Highlighting Coinbase’s infrastructural upgrades to cater to increasing demand, Armstrong positions the company as a vital financial entity. He advocates for the expanding utility of cryptocurrencies in various sectors, aiming to lead in the evolving investment landscape.

Moreover, Armstrong addressed cryptocurrencies’ role in combatting inflation and promoting the U.S. as a leader in finance and technology, underscoring Coinbase’s influence in political arenas by backing crypto-friendly candidates.

Bloomberg

Digital Asset Summit Day 2: Financial giants say they’re here to stay

Executives from financial giants did not only mingle with crypto native folks during day two of Blockworks’ Digital Asset Summit in London.  

They took the stage.

“They’ve always kind of been here,” Gemini Chief Operating Officer Marshall Beard said of the institutions. “It’s just in practice, what are they really doing?”

Well, the world’s largest asset manager launched a bitcoin ETF. BlackRock’s iShares Bitcoin Trust (IBIT) is the fastest-growing new ETF of all time, reaching nearly $16 billion in assets after about nine weeks on the market.  

Read more: Bitcoin ETF catalyzing broader merge of TradFi, crypto: BlackRock exec

Financial services goliath Fidelity…

Read more on Blockworks

Meme Coins Get Mangled: BOME Crashes 50%, Pepe, WIF, Floki & Bonk Plummet 20% — Is The Hype Fading?

The memecoin craze on the Solana SOL/USD blockchain appears to be hitting a rough patch, with popular memecoins losing substantial gains over the past 24 hours.

What Happened: Meme coin BOME saw its price plummet by nearly 50% in the past 24 hours, pushing its market capitalization below $500 million.

This sharp decline wasn’t an isolated incident, with other prominent memecoins like Pepe PEPE/USD, Dogwifhat WIF/USD, Floki Inu FLOKI/USD and Bonk BONK/USD all experiencing significant price drops of around 20% within the same timeframe.

In contrast to the falling fortunes of these digital assets, Slerf, another meme coin on the Solana network, has seen its market value soar to $612…

Read more on Benzinga

JUST IN: Blackrock Unveils New Tokenized Asset Fund on Ethereum Blockchain

Blackrock has officially announced the launch of the BlackRock USD Institutional Digital Liquidity Fund, in collaboration with Securitize. This innovative fund is now accessible on the Ethereum blockchain, trading under the ticker $BUIDL. As of now, the full extent and scope of this new financial venture remain under wraps, signaling a new era in digital asset management.

Official Filling

Top Trending Crypto Coins of The Day

BIGCAP COINS:

  1. Arbitrum: Market Cap of $4.2 Billion.
  2. Solana: Market Cap of $81.5 Billion.
  3. Pepe: Market Cap of $3.1 Billion.

MIDCAP COINS:

  1. BOOK OF MEME: Market Cap of $657 Million.
  2. ether.fi: Market Cap of $348 Million.
  3. Super Trump: Market Cap of $16.1 Million.

RISING COINS:

  1. MOG Coin: Market Cap of $327 Million.
  2. FLOKI: Market Cap of $1.8 Billion.
  3. Beam: Market Cap of $1.7 Billion.

Disclaimer: Market capitalizations can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.

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