On March 10, reports indicated an upward trend in the cryptocurrency market, with Bitcoin surging to near $70,000. As of press time, $Bitcoin (BTC.CC)$it rose by 1.59%, trading at $69,955.22; $Ethereum (ETH.CC)$Ethereum increased by 1.05%, trading at $2,043.77.
Key Focus
Trump pressures Congress using a voter ID bill, creating uncertainty for the CLARITY Act on crypto
According to CoinDesk, U.S. President Trump has threatened not to sign any other legislation until Congress passes his prioritized voter ID bill. This stance introduces uncertainty for the Crypto Market Structure CLARITY Act currently awaiting Senate advancement. Speaking at a Republican event in Florida, Trump stated he is willing to delay signing other laws until the voter ID bill is approved. The SAVE America Act that Trump emphasized aims to establish new thresholds for U.S. voting, including identity verification, citizenship proof requirements, and stricter limits on mail-in ballots. He claims this act will secure Republican advantages in midterm elections. Although passed in the House of Representatives, the bill faces resistance in the Senate. The CLARITY Act, a top policy goal long pursued by the crypto industry, is currently under negotiation in the Senate Banking Committee.
Bitmine discloses holdings of 4.5346 million ETH, with total crypto assets and cash reaching $10.3 billion
$Bitmine Immersion Technologies (BMNR.US)$Last week, an additional purchase of 60,976 ETH was made, amounting to approximately US$131 million. As of March 8, the company holds 4.5346 million ETH, accounting for about 3.76% of the total ETH supply. It also holds US$1.2 billion in cash, some Bitcoin, and equity investments, with total assets reaching US$10.3 billion. Among these, 3.0405 million ETH have been staked, generating an estimated annualized staking income of approximately US$174 million at current prices.
Hyperliquid's CL-USDC contract linked to crude oil sees daily trading volume surpass $1.2 billion, becoming its second-largest trading market
According to Bloomberg, amid escalating Middle East conflicts disrupting global supply chains, the CL-USDC perpetual contract tracking WTI crude oil on the Hyperliquid crypto exchange surpassed $1.2 billion in trading volume over the past 24 hours, making it the platform’s second-largest trading market after Bitcoin. The contract follows West Texas Intermediate crude prices, which briefly surged to $107 per barrel on Sunday, providing real-time pricing signals reflecting heightened tensions with Iran hours before Wall Street opened. Coinglass data shows that nearly $75 million worth of short positions were liquidated as prices climbed. Trading volume for this contract surged from around $21 million before the U.S.-Israel strike on Iran, with open interest reaching $183 million.
The Bhutanese government transferred 175 Bitcoins last night, valued at approximately $11.85 million
According to The Block, Arkham data shows that at approximately 19:56 Beijing time on March 9, the Bhutanese government transferred 175 Bitcoins, worth about $11.85 million. This follows a $6.8 million transfer last month, bringing the total Bitcoin transfers for the country since 2026 to approximately $42.5 million. The Bhutanese government currently holds around 5,400 Bitcoins, valued at approximately $374 million, managed by the sovereign wealth fund Druk Holding & Investments. Arkham noted that Bhutan regularly sells portions of its Bitcoin holdings in tranches ranging from $5 million to $10 million. Compared to a transfer exceeding $60 million over four days in July last year, recent transfers have been smaller in scale.
Vitalik: The Ethereum Foundation is staking 72,000 ETH using DVT-lite technology.
Ethereum founder Vitalik Buterin posted on the X platform that the Ethereum Foundation is staking 72,000 ETH using DVT-lite technology. Vitalik stated that he hopes this project will enable institutions to achieve ultra-simplified and one-click distributed staking during the process—users select the computers running nodes, create configuration files containing identical keys, and everything proceeds automatically thereafter. Vitalik emphasized that the notion of infrastructure operation being complex and must be handled by 'professionals' is anti-decentralization and must be directly challenged. The ideal model should involve a docker container or nix image where each node can be activated with a single click or command-line input of the same key, nodes automatically discover each other, complete network configuration, generate distributed keys, and begin staking.
Aon collaborates with Coinbase and Paxos to test USDC and PYUSD for insurance premium payments
According to a CoinDesk report, a global insurance brokerage giant$Aon PLC (AON.US)$and$Coinbase (COIN.US)$Aon PLC has completed a proof-of-concept test for stablecoin payment of insurance premiums in collaboration with Paxos, using USDC (Ethereum) and PayPal USD (PYUSD, Solana) to settle insurance premiums. Aon stated that this marks the first time a large global insurance broker has tested stablecoins for premium settlement. Currently, cross-border premium settlements predominantly rely on bank clearing, which takes several days. This test aims to evaluate the potential advantages of on-chain payments in terms of settlement efficiency, cost, and transparency, while preparing for the future integration of stablecoins into the existing financial system. The backdrop is that the U.S. has passed the Genius Act, establishing a federal regulatory framework for stablecoin issuers.
The 20 millionth Bitcoin has been mined, leaving less than 5% of the total supply available for extraction.
CloverPool data indicates that the Bitcoin block height has reached 940,000, with the 20 millionth BTC now mined, accounting for approximately 95.2% of the total supply of 21 million. This means that only 1 million Bitcoins will remain mineable over the next approximately 114 years.
Sharplink Annual Report: Ethereum holdings increased to 868,699 ETH, with staking rewards reaching 14,516 ETH.
According to Globenewswire, the Nasdaq-listed Ethereum treasury company$SharpLink (SBET.US)$released its full-year 2025 financial report, disclosing that its Ethereum holdings have increased to 868,699 ETH, including 604,618 native ETH, 208,893 ETH redeemed from LsETH, and 55,188 ETH redeemed from WeETH. Additionally, it received staking rewards of 14,516 ETH and is now the second-largest publicly listed company by ETH holdings globally. The company also disclosed holding $28.5 million in cash and $1.9 million in USDC, with plans to continue increasing its ETH holdings and expanding staking operations.
Strategy has repurchased 17,994 Bitcoin, increasing its total holdings to 738,731 Bitcoin.
According to Michael Saylor,$Strategy (MSTR.US)$Between March 2 and March 8, the company purchased 17,994 Bitcoins for approximately USD 1.28 billion at an average price of around USD 70,946. As of March 8, the company holds a cumulative total of 738,731 Bitcoins, with a total purchase cost of approximately USD 56.04 billion and an average holding price of about USD 75,862.
Polymarket to launch binary options product for the S&P 500.
According to Bloomberg, Polymarket, an on-chain prediction market platform, plans to introduce binary options products for the S&P 500 Index, allowing users to bet on whether the index price will rise or fall.
Nasdaq collaborates with Kraken to advance security tokenization
According to a report by The Wall Street Journal, Nasdaq has partnered with cryptocurrency trading platform Kraken to promote stock tokenization-based trading services.
Wall Street institutions invested $540 million into U.S. Solana ETFs in Q4 of last year
Cointelegraph reported that data shared by Bloomberg ETF analyst James Seyffart shows that Wall Street institutions invested over $540 million into U.S. spot Solana ETFs in the fourth quarter of last year. Electric Capital Partners led with $137.8 million, followed by Goldman Sachs at $107.4 million. Elequin Capital, SIG Holding, and Multicoin Capital ranked among the top five. Morgan Stanley and Citadel Advisors were also among the buyers.
The data comes from 13F filings submitted in mid-February, which require institutions managing over $100 million in assets to disclose their fourth-quarter holdings. Investment advisors emerged as the largest holders with over $270 million, hedge funds held $186.4 million, holding companies held $59.5 million, brokerages held $20.3 million, and banks held $4.5 million. Despite the market value of approximately 4.3 million SOL tokens falling by more than 30% since the end of last year, the Solana ETF has seen cumulative inflows of $952 million since its launch in October of last year.
Editor/Vincent
