#Bitcoin ‘in position’ for first key RSI breakout in 6 months at $85K - #BTC may still be “stuck” in the mid-$80,000 range, but the signs are there for the bull market breakout repeating itself. cointelegraph.com/news/bitcoin-in-position-first-rsi-breakout-6-months-85k
#ETH mega pump coming? #Ether on exchanges falls to near-decade low?
Ether’s supply on #crypto exchanges has dropped to its lowest level since November 2015, leading some analysts to predict a major price rally despite recent bearish sentiment.
“#Ethereum's holders have now brought the available supply on exchanges down to 8.97M, the lowest amount in nearly 10 years (November, 2015),” crypto analytics platform #Santiment said in a March 20 X post.
A significant decline in ETH supply across crypto exchanges can signal a potential price surge soon, commonly known as a “supply shock.” However, a surge will only happen if demand remains strong or increases to outpace the reduced supply.
It was recently seen in #Bitcoin. On Jan. 13, Bitcoin reserves on all crypto exchanges dropped to 2.35 million #BTC, hitting a nearly seven-year low that was last seen in June 2018. Just a week later, Bitcoin surged to a new high of $109,000 amid the inauguration of US President Donald #Trump.
Some crypto traders and analysts anticipate a similar scenario for Ether.
Crypto trader Crypto General told their 230,800 X followers that it is “Just a question of time before the big supply shock.”
Crypto commentator Ted said in a March 19 X post that with ETH supply on crypto exchanges decreasing by the day, “buyers will soon compete, leading to bidding wars.”
Meanwhile, crypto trader Naber said in an X post on the same day that the largest ETH accumulation is taking place, and it may lead to Ether reaching the $8,000 to $10,000 price range. Even at the lower end of $8,000, Ether would be up 64% from its all-time high of $4,878, reached in November 2021.
While the supply decline is giving crypto traders hope for ETH, other signals have recently cast a bearish shadow over the asset.
Its performance against Bitcoin has been at its lowest in five years. Daan Crypto Trades said in a March 19 X post that it is “unlikely to see this anywhere near its highs anytime soon.”
Ether is currently trading at $1,971, down 26% over the past month according to CoinMarketCap data. Meanwhile, spot Ether ETFs have had 12 straight days of outflows totaling $370.6 million, according to Farside data.
“This has been one brutal downtrend,” Daan Crypto Trades added.
Scott Melker, aka “The Wolf of All Streets,” said, “Either Ethereum bounces here and this is a generational bottom, or it’s over.”
cointelegraph.com/news/ethereum-supply-decline-crypto-exchanges-price-prediction-analysts
Total #stablecoin market cap surpasses $230 billion amid institutional interest and #Trump policies theblock.co/post/347405/total-stablecoin-market-cap-surpasses-230-billion-amid-institutional-interest-and-trump-policies
Tried turning a quick snap on my phone into a cartoon character using #AI, made me look quite good! cartoonizer.ai/cartoon-upload
US spot #bitcoin ETFs post largest daily net inflows in six weeks, worth $274 million
theblock.co/post/346700/us-spot-bitcoin-etfs-post-largest-daily-net-inflows-in-six-weeks-worth-274-million
I quite like the sound of #Ondo on paper, the #crypto #Grok #AI picked as one to buy a bit of to hold for a few years when I asked about what to invest in.
It's Backed by #Pantera Capital and #Coinbase.
Design advisors for the chain include new members of the Ondo Ecosystem: #FranklinTempleton, #Wellington Management, #WisdomTree, #Google Cloud, ABN Amro, Aon, and McKinsey. The Ondo Ecosystem already includes notable industry leaders such as #BlackRock, #PayPal and #MorganStanley.
It's an impressive list of industry names and funds representing quite a lot of industry expertise and involvement from some key players in the game.
Ondo seems to often outline it's vision for creating Wall Street 2.0 on its X account through #RWA tokenisation, bringing institutional-grade #financial products to the home of #institutional adoption, and it seems to have the contacts and backing by folks in #WallStreet to do this too!
Ondo’s products “climbed to just shy of $1B combined, a 53% surge in market value over the past month,” reported #Coindesk on Mar 13th.
The #tokenized treasury market surged to a fresh record of $4.2 billion as the #crypto correction accelerated inflows also.
What #stablecoins took four years to achieve, tokenized Treasuries achieved in two, demonstrating strong demand for safe, liquid, institutional-grade yield.
On Mar 13th too they partnered with #Mastercard, bringing Ondo Finance into the Multi Token Network (MTN) as the first RWA provider on the network.
Ondo Vice Chairman Patrick McHenry even joined #CNBC Asia to discuss the $64T tokenization opportunity and Ondo’s role in bringing RWAs onchain at scale.
“Firms like Ondo are best in class” in the tokenization of real-world assets. “We have a massive market to bring this new technology to, bring it #onchain, and do it in a regulated way.”
Ondo and #Ripple are working together and share a vision: meeting users where they are and making onchain finance interoperable with legacy systems, where trillions of dollars reside. Deploying OUSG to the XRPL, and bringing institutional-grade financial products to the home of institutional adoption.
With names like #Coinbase, #XRP Ripple and Blackrock behind it and involved in it, who were all part of the recent #WhiteHouse meeting to setup the US Strategic #Bitcoin Reserve that holds crypto assets like XRP etc too, this kind of sounds like a winning team.
February 2025 was Ondo’s biggest month yet.
They brought together industry leaders at the Ondo Summit, announced Ondo Chain & Ondo Nexus, collaborated with Mastercard, #WorldLiberty Finance (which has links to president #Trump), #Stellar Org, BitGo
& more, and welcomed Patrick McHenry as Vice Chairman - all in their mission to transform global finance.
Ondo is also the leading tokenized US Treasuries provider by number of token holders, Ondo’s tokenized Treasuries are held by 85% of the 15,000+ holders in the category and are available on 8 blockchains: #Ethereum, #Solana, #Aptos, #Mantle, #Sui Network, #Arbitrum, #Polygon, #Cosmos, #Ripple, and #Stellar Org also!
They’ve recently announced three game-changing initiatives—Ondo Nexus, Ondo Global Markets, and Ondo Chain.
Together, these initiatives will accelerate their mission: unlocking global access by bringing #US financial markets onchain, starting with the $90T US Treasuries and US #Equities markets.
Currently sitting at $0.86 (down from it's recent high above $2 when BTC was over $100K), Grok tipped it as a steal and a no-brainer to buy if it went under $1, time will tell I guess!
To learn more about Ondo's vision for Wall Street 2.0, visit: blog.ondo.finance/global-markets
(Not financial advice, do your own research, etc. 😉)
$DEBEVIC is giving away $20 in prizes for this weekend's "Good Vibes Contest"
Let's spread positive energy out in the $Focus universe.
Here's how it works:
- Repost this post so we can share the love with as many people as possible.
- In the comments, post something sending out positive vibes- It can be a picture, meme, quote, song lyrics, video, or anything else as long as it conveys good vibes.
- I will give $0.01, $0.25, and $1 tips out.
Russia leans on #cryptocurrencies for oil trade, sources say
March 14 (Reuters) - Russia is using cryptocurrencies in its oil trade with China and India to skirt Western sanctions, according to four sources with direct knowledge of the matter.
While Russia has publicly encouraged the use of crypto and last summer passed a law to allow digital currency payments in international trade, its use in the country's oil trade has not previously been reported.
Some Russian oil companies are using #bitcoin, #ether and #stablecoins such as #Tether to smooth the conversion of Chinese yuan and Indian rupees to Russian roubles, the sources said, adding that it is a small but growing part of Russia's overall oil trade, which according to the International Energy Agency was worth $192 billion last year.
All the sources declined to be identified due to the sensitivity of the matter.
Cryptocurrencies have already helped enable countries under U.S. sanctions such as Iran and Venezuela to keep their economies running while avoiding use of the dollar, the preferred currency for transactions in the global oil market.
Russia's move comes after Venezuela accelerated its use of digital currency in crude and fuel exports after Washington reimposed sanctions.
Russia has set up a variety of systems and #USDT (Tether) is just one of them, said a fifth source, a researcher at an investigations firm which tracks the use of cryptocurrencies for sanctions circumvention, who asked not to be named because of a non-disclosure agreement.
The Russian central bank did not respond to a request for comment. It said last year that delays in payments due to sanctions had become a major challenge for the Russian economy.
U.S. President Donald Trump is seeking to improve relations with Russia as he pushes for an end to the war in Ukraine, but whether sanctions will be lifted remains unclear. Reuters reported that the White House was drafting options for sanctions relief, but Trump posted on March 7 that he is strongly considering more sanctions on Russia.
"#Crypto would likely continue to be used in Russian oil trading, one of the four sources said, even if sanctions are lifted and the dollar can be used again. It is a convenient tool and helps run operations faster", they added.
In an example of how the trade works, a Chinese buyer of Russian oil pays a trading company acting as a middleman in yuan into an offshore account, two of the sources with knowledge of the transactions said.
The middleman converts this into crypto and transfers it to another account and from there, it is sent to a third account in Russia and converted to roubles, they said.
For one Russian oil trader's sales to China, crypto transactions are in the tens of millions of dollars per month, according to one of the sources who is familiar with the trader's operations.
Traditional currencies still account for the bulk of Russia's oil transactions, analysts said, with other workarounds including the use of the UAE dirham, for example.
One Russian crypto exchange, Garantex, was placed under U.S. sanctions in 2022 and by the European Union last month. The platform suspended services last week after Tether blocked digital wallets on its platform.
Cryptocurrencies are one of multiple ways of getting around payment issues, according to one of the sources, who advises the Kremlin. Analysis by the UK's Royal United Services Institute and the Centre for Information Resilience and also supports that view.
Brazil will prioritize "promoting the use of #blockchain technology for trade among #BRICS nations" as one of its key agendas during its presidency.
According to a report by the Global Times on March 14, Brazil plans to promote the application of blockchain technology in international trade among BRICS member countries to streamline the financial transaction processes of import and export contracts. This initiative will be one of Brazil's priorities during its tenure as the rotating presidency of BRICS starting in January 2025.
The White House plans a large-scale acquisition of #Bitcoin to ensure budget neutrality.
White House officials stated that the Trump administration plans to purchase as much Bitcoin as possible. On March 14, PANews cited a report from Decrypt, where Bo Hines, the executive director of the President's Working Group on Digital Assets, told attendees at a closed-door roundtable hosted by the Bitcoin Policy Institute that the White House intends to acquire as much Bitcoin as possible. When asked how much Bitcoin the U.S. government might ultimately purchase, Hines jokingly responded that this question is like asking someone how many dollars they want. White House officials confirmed that Hines did indeed make a statement about acquiring as much Bitcoin as possible, but added that any such acquisitions would be done in a budget-neutral manner, without spending a dime of taxpayer money. White House officials emphasized that Hines did not endorse any specific legislation during the event.
Source: https://www.panewslab.com/en/sqarticledetails/4wtr02do.html