Crazy Flux
  • Business
  • World
  • Stocks
  • Investing
  • Business
  • World
  • Stocks
  • Investing

Crazy Flux

Investing

Crypto Market Recap: Australia to Start Crypto Pilot Program, Coinbase in Talks to Buy Deribit

by admin March 24, 2025
March 24, 2025
Crypto Market Recap: Australia to Start Crypto Pilot Program, Coinbase in Talks to Buy Deribit

Here’s a quick recap of the crypto landscape for Friday (March 21) as of 9:00 p.m. UTC.

Bitcoin and Ethereum price update

Bitcoin (BTC) is currently trading at US$83,955.92, a 0.7 percent decrease over the past 24 hours. The day’s trading range has seen a low of US$83,238.78 and a high of US$84,411.85.

A new analysis by trading resource Material Indicators on March 20 (Thursday) identified a classic manipulatory device known as spoofing by one or more whales as a reason why Bitcoin failed to sustain or rally past US$87,500 yesterday. Crypto markets are seeing decreased speculative trading, indicated by a lower Bitcoin hot supply. Analysts predict bearish trends could continue, with Bitcoin possibly dropping to $60,000.

Bitcoin performance, March 21, 2025.

Chart via TradingView.

Ethereum (ETH) is priced at US$1,973.30, trading flat over the same period. The cryptocurrency reached an intraday low of US$1,938.90 and a high of US$1,976.41.

Crypto analytics platform Santiment observed the lowest supply of Ether on crypto exchanges since November 2015, which suggests that investors are moving their ETH into cold storage wallets for long-term holding. This could lead to a supply shock, resulting in a potential price surge.

Altcoin price update

  • Solana (SOL) is currently valued at US$128.15, up 0.2 percent over the past 24 hours. SOL experienced a low of US$125.34 and a high of US$129.04 on Friday.
    • Sui (SUI) is priced at US$2.27, showing a 4.6 percent decrease over the past 24 hours. It achieved a daily low of US$2.24 and a high of US$2.29.
    • Cardano (ADA) is trading at US$0.7105, reflecting a 1.1 percent decrease over the past 24 hours. Its lowest price on Friday was US$0.7017, with a high of US$0.7167.

    Crypto news to know

    Australia exploring digital asset integration

    The Australian government is developing a regulatory framework for digital assets, focusing on digital asset platforms (DAPs) and payment stablecoins. According to a white paper released by the Treasury office, the reforms aim to balance innovation with consumer protection, aligning with international best practices.

    Key elements include extending existing financial services laws to DAPs, treating payment stablecoins as stored-value facilities and reviewing the enhanced regulatory sandbox. Under the framework, the government plans to explore the potential of digital asset technology, while addressing de-banking issues and considering future initiatives such as the Crypto Asset Reporting Framework, central bank digital currencies, tokenization and decentralized finance.

    The paper details a pilot program that centers around exploring the practical applications of tokenization in financial markets, particularly in the wholesale sector. The program will be executed in collaboration with the Digital Finance Cooperative Research Center, the Treasury, ASIC and the Australian Prudential Regulation Authority.

    These developments come ahead of a federal election slated for May 17 or earlier.

    Coinbase in talks to acquire Deribit

    Coinbase is reportedly in advanced discussions to acquire leading cryptocurrency derivatives platform Deribit, according to a Bloomberg report released on Friday afternoon.

    According to sources cited by the news outlet, the move aims to bolster Coinbase’s presence in the institutional crypto trading space by integrating Deribit’s established options and futures offerings.

    The acquisition would allow Coinbase to diversify its revenue streams and cater to sophisticated traders seeking complex financial instruments, potentially solidifying its position as a comprehensive crypto exchange in a rapidly evolving market.

    The companies have not commented on the potential deal, but have reportedly notified regulators in Dubai where Deribit holds a license.

    Canary Capital files to list Pengu ETF

    Canary Capital has filed US regulatory documents to list an exchange-traded fund (ETF) that would hold Pengu (PENGU), the governance token of the Pudgy Penguins non-fungible token (NFT) project.

    This move follows an earlier proposal by the investment firm to offer the first Sui ETF on Monday (March 17).

    The proposed Pengu ETF aims to hold spot PENGU and Pudgy Penguins NFTs, potentially becoming the first US ETF to hold NFTs if approved. The filing also reveals plans for the ETF to hold other digital assets, such as SOL and ETH, for transactions related to the PENGU and Pudgy Penguins NFTs.

    As of March 21, PENGU had a market cap of approximately US$395 million, according to CoinGecko.

    Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

    Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

    This post appeared first on investingnews.com

    previous post
    Nvidia’s CEO did a Q&A with analysts. What he said and what Wall Street thinks about it.
    next post
    Kaiser to acquire the Henty Gold Mine, becoming a multi-asset Australian gold producer

    Related Posts

    NevGold Releases Some of the Highest Grade Oxide...

    June 26, 2025

    OPINION — Goldenomics 101: Follow the Money

    July 19, 2025

    6 Biggest Crypto-Mining Stocks

    February 10, 2025

    Maritime Resources: A Low-risk Path to Gold Production...

    July 11, 2025

    Tech 5: TSMC, ASML Release Latest Results, NVIDIA...

    July 20, 2025

    Tech 5: CoreWeave Inks US$11.9 Billion OpenAI Deal,...

    March 16, 2025

    Visible Gold and New Targets Identified at Music...

    May 29, 2025

    Scoping Study Demonstrates Low Cost Potential (Replacement)

    June 5, 2025

    Tartana executes HOA to process Copper Ore in...

    April 14, 2025

    PDAC 2025: Investment Capital, AI Energy Demand and...

    March 12, 2025

      Join our mailing list to get access to special deals, promotions, and insider information. Your exclusive benefits await! Enjoy personalized recommendations, first dibs on sales, and members-only content that makes you feel like a true VIP. Sign up now and start saving!


      By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

      Recent

      • The Real Drivers of This Market: AI, Semis & Robotics

        August 8, 2025
      • S&P 500 Breaking Out Again: What This Means for Your Portfolio

        August 8, 2025
      • NorthStar Gaming to Host Q2 2025 Earnings Webinar on August 14th

        August 8, 2025
      • Sranan Gold Trenching Encounters 36.7 Grams/Tonne Gold over 5 Metres, 150 Metres South of Randy’s Pit at the Tapanahony Project in Suriname

        August 8, 2025
      • Codelco Seeks Partial Restart at El Teniente Mine After Fatal Collapse

        August 8, 2025
      • Pinnacle Closes Oversubscribed Non-Brokered Private Placement

        August 8, 2025
      • About us
      • Contacts
      • Privacy Policy
      • Terms and Conditions
      • Email Whitelisting

      Disclaimer: crazyflux.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


      Copyright © 2025 crazyflux.com | All Rights Reserved