The crypto market remains in Extreme Fear, yet social-media chatter around Bitcoin, Ethereum, and Dogecoin has risen. Bitcoin marked its 20 millionth mined coin on the network on the 9th, with roughly 95% of the supply already in circulation and the final mining phase under way. Institutional demand appears to be rising, with notable holder Strategy reported to own about 738,000 BTC.
Interest in Ethereum remains elevated, but sentiment is cautious, with some institutions buying ETH while Ethereum ETF inflows appear to be waning. On-chain activity cooled, with 30-day active addresses for Ethereum slipping to about 12.8 million in late February and early March. Ongoing staking delays and governance debates are cited as factors weighing on investor confidence.
Dogecoin has risen about 5.6% in a day as retail demand and expectations around X Money bolster enthusiasm, with short positions largely liquidated. Whale movement and broader merchant adoption are cited as additional upside catalysts. Stablecoins are expanding their role, led by USDT, in emerging markets to meet dollar demand, with monthly on-chain volumes surpassing $1 trillion. Visa’s on-chain data underscores stablecoins’ role as core payments infrastructure.
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