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Quick market read from this story
Ripple unlocked 1 billion XRP from escrow, valued at approximately $1.377 billion
XRP price saw minimal reaction, rising 0.9% post-unlock, despite a 16.45% drop in February
Solana led market rebound with an 11% price surge to $88.89 following a $500M liquidation event
Elon Musk drew parallels between AI firm Anthropic and the collapsed FTX exchange.
Deep Dive
Ripple released 1 billion XRP from its escrow accounts on March 1, a move occurring amidst a market downturn where XRP experienced a 16% drop in February. The unlock, valued at approximately $1.377 billion, was executed in three tranches: 200 million, 300 million, and 500 million XRP. Following this release, Ripple continues to hold about 32.91 billion XRP, representing roughly 32% of the total supply, valued at over $45.3 billion. This regular unlocking process is intended to enhance liquidity, manage the market, and facilitate the gradual distribution of XRP.
The immediate price reaction to the XRP unlock was minimal, with a slight increase of 0.9% from the day's opening. This contrasts with February's performance, which concluded with XRP down 16.45%, and at its lowest point, the cryptocurrency had fallen by 33%.
Solana led the cryptocurrency market recovery on Sunday, surging 11% to an intraday high of $88.89. This rebound followed a significant market downturn on Saturday that resulted in over $500 million in liquidations. The overall market capitalization added $32 billion by Sunday morning, recovering from a $128 billion loss the previous day, according to CoinGecko data.
Despite the sharp recovery, weekly performance for most digital assets remains mixed. Factors such as thin liquidity and upcoming movements in the equity markets are expected to influence whether the current upward momentum can be sustained. Solana was up 9.22% in the last 24 hours at the time of writing, though it was down 0.41% weekly.
Elon Musk has amplified a critique comparing AI firm Anthropic and its CEO Dario Amodei to the disgraced FTX founder Sam Bankman-Fried, suggesting they exhibit similar characteristics. This sentiment was endorsed by Musk on a social media thread that detailed why Anthropic's corporate image was perceived as uncomfortable and comparable to FTX's fraudulent operations.
The comparison is partly due to Sam Bankman-Fried's early investment of $500 million in Anthropic in 2022. It was later revealed that these funds were misappropriated from FTX customer assets. The commentator described the AI company's demeanor as calculated, insincere, and akin to a disguised 'hyperpredator'.
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Bitcoin has fallen below significant moving averages, indicating potential for increased downside pressure. Shiba Inu shows a hidden bullish divergence on momentum indicators despite a bearish price trend. XRP's rising trendline support around $1.30 has been invalidated, leaving it in a vulnerable phase. The market is experiencing weak demand and uncertainty, with short-term bounces risking further selling opportunities.
Ripple executed its largest RLUSD stablecoin mint to date, totaling 69 million tokens. The minted RLUSD tokens are reportedly routed to the Gemini exchange. RLUSD market cap has surpassed $1.5 billion, indicating significant supply growth. Recent exchange integrations and partnerships, including Binance and LMAX Group, are driving RLUSD adoption.
Bitcoin surged past $69,000, triggering over $80 million in short liquidations. MicroStrategy shares rallied alongside BTC after a significant new purchase. Analyst Tom Lee predicts a crypto market bottom and April rally.
Michael Saylor's firm Strategy purchased 3,015 BTC for $204.1 million, increasing its total holdings to 720,737 BTC. Peter Schiff sarcastically commented on the purchase, continuing the gold vs. Bitcoin debate.
Cardano's ADA has formed an hourly death cross, signaling potential bearish momentum amidst a broader market liquidation event. Development continues with preparations for the Protocol Version 11 hard fork, including node upgrades and Plutus cost model updates.
This week's crypto market focus includes earnings reports from Bitcoin miners Riot Platforms and Core Scientific, both expanding into AI. Key macroeconomic events include the U.S. jobs report and ongoing geopolitical tensions in the Middle East, which could impact risk appetite. Several token events, including governance votes, unlocks, and potential token launches, are also scheduled.
Ripple has unlocked 1 billion XRP from its escrow account, a routine monthly release that has historically drawn market attention. Despite the large unlock and recent ETF inflows, XRP's price action has been muted, with analysts maintaining bullish long-term outlooks based on historical patterns and potential significant upside.
Ripple has unlocked 1 billion XRP from its escrow account, a routine event aimed at boosting liquidity. Despite the unlock, XRP showed minimal price reaction, continuing its struggle after a 16% drop in February. Historically, March has seen positive returns for XRP, but current market conditions and Ripple's significant remaining holdings (32%) introduce uncertainty.
BankMe (BANK) is launching a Solana-based token representing a professional poker bankroll. The token's capital will be used for high-stakes tournament buy-ins, with a fixed supply of 1 billion tokens and a Token Generation Event (TGE) set for March 4, 2026. Public sale tokens will be 100% unlocked at TGE, while private sale allocations will have a 6-month vesting period.
Fundstrat's Tom Lee predicts a market-wide revival in March. Lee reiterates a $200,000-$250,000 target for Bitcoin in 2026. Ethereum is projected to reach $7,000-$9,000 by early 2026. AI-driven productivity, strong corporate earnings, and government support are cited as key drivers.
Crypto markets declined as geopolitical tensions escalated following reports of a US-Israel strike on Iran. Bitcoin dropped to around $66,127 from a brief high of $68,000. Ethereum fell to near $1,947, down approximately 2.46% in 24 hours. Investors moved towards traditional safe-haven assets like oil, gold, and silver, indicating reduced risk appetite for crypto.
Ethereum to implement Proposer-Builder Separation (ePBS) and Fork-Choice-Enforced Inclusion Lists (FOCIL) via Glamsterdam and Hegota upgrades this year. ePBS aims to decentralize block building and mitigate MEV, while FOCIL will prevent transaction censorship. Cardano's upcoming Midnight sidechain will offer similar privacy and transaction separation benefits. ETH and ADA prices are showing positive movement, influenced by broader market rallies and Bitcoin's performance.
Solana price is consolidating within a three-week triangle pattern. A break above $88.60 resistance is eyed as a key signal for potential upside. Solana has reclaimed the Ichimoku cloud on the four-hour chart for the first time since January. Moving averages (50 MA crossing 100 MA) also indicate a short-term momentum shift.
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US Senate advances housing bill including a provision to ban central bank digital currency (CBDC) issuance until end of 2030. White House formally backs the bill, indicating President Trump would sign it if it reaches his desk. The CBDC ban is embedded within a broader housing package, a strategic move by House conservatives. Federal Reserve has previously stated any US CBDC would require explicit congressional approval and remains exploratory.
Iranian crypto outflows surged over 700% to over $500,000 within minutes of US-Israeli airstrikes. Outflows reached nearly $3 million in one hour on Nobitex, Iran's largest crypto exchange. Internet blackouts enforced by the Iranian regime significantly curbed further outflows. TRM Labs disputes capital flight conclusion, citing a downturn in transactions and volume due to internet restrictions.
US Senate Banking Committee includes provision banning Fed CBDC issuance until 2031. Bipartisan "21st Century ROAD to Housing Act" aims to boost housing supply. White House supports the bill and explicitly backs the CBDC provision. Ban includes exceptions for private dollar-denominated currencies preserving privacy.
Deloitte has completed the first attestation report for Tether's USAT stablecoin. USAT reserves totaled $17.6 million against $17.5 million in circulating supply as of Jan. 31. USAT reserves consist of cash and U.S. Treasuries held domestically. This move aims to build trust for USAT within the U.S. regulatory framework, differentiating it from Tether's global USDT.
New biodegradable packaging film developed from milk protein, starch, and volcanic clay. Material exhibits 1,000x reduction in water vapor permeability compared to similar biopolymer films. Film fully degrades in soil within approximately 13 weeks. Potential for low-tech scaling and application in developing countries.
PayPay, holding a 40% stake in Binance Japan, is pursuing a Nasdaq IPO aiming to raise up to $1.1 billion. The IPO targets a valuation exceeding $10 billion for the Japanese payments firm. PayPay's partnership with Binance Japan aims to integrate crypto with its cashless payment services. The IPO listing was postponed due to global market volatility following geopolitical events.
US authorities are seeking to recover $327,829 in USDt linked to a romance scam. The funds were traced to cryptocurrency wallets seized by the Justice Department. Tether has frozen approximately $4.2 billion in USDt connected to illicit activities since 2023.
Bitcoin mixers enhance privacy by obscuring transaction origins through pooling and redistribution. Mixero.io offers CoinJoin with an optional Monero bridge, starting at 0.7% fees. Tornado Cash, a decentralized Ethereum mixer, has over $1 billion TVL. Wasabi Wallet integrates CoinJoin with a 0.3% coordinator fee, waived for small transactions.
Bitcoin futures open interest declined to $32 billion, lowest since August 2024 in BTC terms. Annualized premium on Bitcoin monthly futures dropped to 2%, indicating reduced demand for leveraged positions. Despite futures demand drop, CME Bitcoin futures open interest remains at $7.5 billion, suggesting institutional presence. Bitcoin options market shows balanced demand with put-to-call premiums near 0.7, indicating no major stress.
US prosecutors seek forfeiture of $327,829 in USDT linked to a crypto romance scam. Victim was defrauded after being convinced to invest in a fake cryptocurrency opportunity. Funds were laundered through multiple wallets and converted to USDT. This action follows recent warnings from US prosecutors about crypto-related romance scams.
Core Scientific reported Q4 revenue of $79.8 million, missing estimates of $122.08 million. The company posted a Q4 loss of $0.42 per share, wider than the expected $0.08 loss. Core Scientific is expanding its colocation platform and AI-focused infrastructure services. Riot Platforms reported Q4 revenue of $647.4 million, significantly exceeding estimates.
TD Securities views NYSE's tokenized equities plan as a market structure turning point for institutional adoption. The NYSE platform aims for 24-hour trading and near-instant settlement of tokenized stocks and ETFs. This development integrates blockchain settlement within existing US market rules and NBBO requirements. Tokenized assets, particularly RWAs, have seen continued capital inflows despite broader market volatility.
ETH has experienced six consecutive monthly price declines, a streak not seen since the 2018 crypto winter. Despite record network usage, ETH's price has fallen approximately 60% from its all-time high. Derivatives data shows a significant drop in ETH futures open interest and a premium on downside protection in options markets. US-listed Ethereum ETFs have seen $2.6 billion in outflows over the past four months, and major stablecoin market caps have slowed.
Bitfinex Securities is resuming USDt-denominated bond issuances on Bitcoin's Liquid Network. Previous issuances totaled $6.2 million, with four offerings and over $1.1 million in coupon payments made. The bonds offer crypto-native investors yield on USDt holdings, targeting emerging market private credit. This occurs amidst ongoing regulatory debate in the US regarding stablecoin yield products.
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