Abstract

• Bitcoin price dropped 3.62% to $82,454.3, and Ethereum price fell 4.98% to $2,071.02.
• Restaking stablecoin protocol Level TVL surpassed $80 million.
• Fulcrom TVL exceeded $18 million.
• The market capitalization of stablecoins on the Sui chain surpassed $600 million, reaching a record high.
• The White House announced that the U.S. will become a Bitcoin superpower, marking the beginning of a golden era.
• The Utah Senate passed the Bitcoin bill, but the reserve investment clause was removed.
• The Japanese government approved cryptocurrency brokerage operations and stablecoin reforms.

Market Analysis

• BTC - BTC price dropped 3.62% in the past 24 hours, currently at $82,454.3. At present, BTC is in a clear downtrend, with a brief rebound after forming support near $80,000. The key level now is $82,500 - if BTC can stabilize above this level, it could establish effective support, otherwise, it may turn into resistance. The moving average system is in a bearish alignment. Although the price has slightly rebounded from the support area, trading volume has significantly declined, indicating weak rebound momentum. [1]

• ETH - ETH price fell 4.98% in the past 24 hours, currently at $2,071.02. The overall trend of ETH remains constrained by the descending trendline and continues to trade below it. The price started rebounding after finding support near $1,990, but low trading volume and weak rebound momentum indicate an overall bearish trend. Caution is advised. [2]

• ETF - According to SoSoValue data, on March 7, the total net outflow of U.S. Bitcoin spot ETFs was $409 million[3], while the total net outflow of U.S. Ethereum spot ETFs was $23.1 million. Data as of March 10, 11:00 AM (UTC+8). [4]
• Altcoins - The Made in China, Bridged Stablecoins, and Bridged USDC sectors changed by +2.4%, +0.1%, and +0.1%, respectively. [5]]
• U.S. Stock Market Indexes - On March 7, the S&P 500 index rose 0.55%, the Dow Jones index gained 0.52%, and the Nasdaq index increased 0.70%. [6]
• Spot Gold - Spot gold price reached $2,912.41 per ounce, with a daily increase of 0.06%. Data as of March 10, 11:00 AM (UTC+8). [7]
• Fear & Greed Index - The Fear & Greed Index is at 20, indicating the market is in a state of extreme fear. [8]

Top Performers

According to Gate.io market data[9], based on trading volume and price performance over the past 24 hours, the top-performing altcoins are as follows:

RARE (SuperRare) - Single-day increase of approximately 49.15%, with a circulating market capitalization of $56.05 million.

SuperRare is a trading platform in the NFT art sector, where users can easily create, sell, and collect rare digital artworks.[10]

Recently, the platform has been working on improving the $RARE staking mechanism to enhance holder participation. At the same time, it is actively expanding the application scenarios of $RARE, collaborating with other platforms, and integrating its tools. Additionally, SuperRare is redesigning its platform to enhance user experience and expand offline markets and private sales services. These initiatives demonstrate SuperRare’s active commitment to ecosystem development and its determination to increase the value of RARE, which may be interpreted by the market as a positive signal, driving the token price higher.

CVAULTCORE (cVault) - Single-day increase of approximately 30.48%, with a circulating market capitalization of $55.41 million.

CVAULTCORE is a non-inflationary cryptocurrency that operates in a fully decentralized manner, with all major decisions made through community voting. The token employs smart contracts to autonomously execute profit strategies, meaning that once rules are preset, the system automatically manages and deploys locked funds to generate returns. A portion of the profits (e.g., 5%) is automatically used for market buybacks, thereby creating a deflationary effect. Its core product is the CORE Vault ecosystem, which offers various functions, with the most significant being the deflationary farming mechanism enabled through CORE staking.[11]

As a non-inflationary and fully community-driven cryptocurrency, CVAULTCORE’s unique CORE Vault ecosystem and deflationary farming mechanism strengthen investor confidence in its long-term value. Combined with positive market sentiment and active community discussions, these factors have contributed to its recent strong performance.。

B3 (B3 Base) - Single-day increase of approximately 11.86%, with a circulating market capitalization of $117 million.

B3 is a horizontally scalable gaming ecosystem built on Base. Its goal is to leverage technological advantages to provide players with a high-speed, low-cost gaming experience while creating an open and interconnected platform that bridges the gap between developers and players, driving the growth of on-chain gaming.[12]

Recently, the game Sanctuary_B3 has garnered significant attention due to its compelling gameplay and user experience. Its appearance in the Parallel Tournament has further enhanced its professional credibility. Meanwhile, with the new game B3lievers set to launch in the third quarter, market anticipation for future developments is growing. These factors collectively boost confidence in the B3 project and the outlook for on-chain gaming, driving the token price upward.

Data Highlights

Level TVL Surpasses $80 Million

Level’s total value locked (TVL) has reached $87.76 million, while its token lvlUSD has a market capitalization of $63.58 million. From early January to mid-February, Level’s TVL maintained steady growth. Since the end of February, TVL has seen rapid expansion, quickly surpassing $80 million.

Level is a stablecoin protocol backed by re-staked USD tokens, aiming to transform idle USD stablecoins into yield-generating assets. This approach allows stablecoins to provide returns while also contributing to the economic security of decentralized networks. Its core product is Level USD (lvlUSD), which offers a solution for investors seeking re-staking yields without exposure to ETH or BTC price volatility.[13]

Level’s rapid growth is likely driven by its high yield offerings. The annualized yield for slvlUSD is approximately 13%, while sUSDe offers around 9%, sUSDS around 7%, and BFUSD around 3%. Compared to traditional finance and other DeFi products, slvlUSD’s yield is particularly attractive.

Fulcrom TVL Surpasses $18 Million

Fulcrom’s total value locked (TVL) has reached $18.80 million. Since mid-February 2025, Fulcrom has demonstrated significant growth momentum. Its TVL has surged from approximately $13 million to $18.80 million, an increase of over 40%. Fulcrom is a cross-chain decentralized perpetual contract exchange designed specifically for leveraged cryptocurrency trading. Its advantages include reduced trading fees, minimized price fluctuation impact, and full on-chain transparency for all trades and collateral. Currently, Fulcrom is deployed on Cronos, zkSync Era, and Cronos zkEVM networks, supporting cross-chain transactions.[14]

The recent trading competition held by Fulcrom is likely the main catalyst for its TVL growth. The event offers high-value FUL token rewards, and the substantial prize pool has incentivized more users to deposit funds on the platform for trading.

Sui On-Chain Stablecoin Market Cap Surpasses $600 Million, Reaching a Record High

The market capitalization of stablecoins on the Sui blockchain has reached $648 million, marking a new all-time high. As a high-performance Layer 1 blockchain, Sui aims to provide a high-throughput, low-latency transaction experience.

Recently, the Sui Foundation announced a strategic partnership with World Liberty Finance (WLFI) to create a more open and transparent financial ecosystem. Under the agreement, WLFI will include SUI tokens in its strategic token reserves to support the development of Web3 projects. Additionally, WLFI and Sui have already begun exploring collaboration opportunities in product development, with the goal of launching more innovative DeFi products in the future.[15]

These developments indicate that the Sui ecosystem is rapidly expanding, further highlighting its potential in the stablecoin and DeFi sectors. The partnership with WLFI will accelerate Sui’s growth and bring additional value to its users.

Spotlight Analysis

White House Statement: America Will Be the Bitcoin Superpower, the Golden Age Has Begun

The official White House X account released a striking statement, declaring: “America will be the Bitcoin superpower of the world. The Golden Age of America has BEGUN!” This brief but impactful message signals the U.S. government’s positive stance on Bitcoin and its vision for the future.[16]

This statement from the White House is undoubtedly a major bullish signal for the cryptocurrency industry. It may indicate that the U.S. government will introduce more policies supporting Bitcoin and the broader crypto sector. However, how this strategy will reshape the global financial landscape remains to be seen.

Utah Senate Passes Bitcoin Bill, Reserve Investment Clause Removed

The Utah Senate recently passed HB230, the Blockchain and Digital Innovation Amendments, with a vote of 19 in favor, 7 against, and 3 abstentions. A key highlight of the original bill was a provision that would have allowed the state treasury to invest up to 5% of its funds in digital assets with a market capitalization exceeding $500 billion—making Bitcoin the only eligible asset. This could have positioned Utah as the first U.S. state to hold Bitcoin reserves. However, during the legislative process, this forward-thinking clause was removed, and the House accepted the revised version with a vote of 52 in favor, 19 against, and 4 abstentions. The current version primarily focuses on legally protecting Utah residents’ fundamental rights in the cryptocurrency sector, including Bitcoin custody, mining, node operation, and staking activities.[17]

This amendment reflects the state legislature’s effort to balance digital economic innovation with prudent risk management. While the original Bitcoin investment clause was groundbreaking, its removal highlights lawmakers’ concerns over the risks of directly investing in highly volatile assets. Nonetheless, by explicitly safeguarding residents’ rights, the bill still provides a solid legal foundation for the growth of the local crypto industry and serves as a reference for other regions seeking to strike a balance between innovation and risk control.

Japan Approves Crypto Brokerage and Stablecoin Reforms to Strengthen User Protection and Innovation

The Japanese government has recently approved a series of reform proposals aimed at cryptocurrency brokerage businesses and stablecoins, with the goal of enhancing user protection and promoting innovation. These proposals, introduced by the Financial Services Agency (FSA), have now been submitted to the National Diet for review.Under the current system, companies engaged in crypto asset brokerage must register as Virtual Asset Service Providers (VASPs), a process that is both stringent and time-consuming. The new proposal suggests the creation of a new “intermediary-type” crypto business category, allowing brokers to operate under a more streamlined regulatory framework. This change is expected to attract companies with large customer bases, such as gaming and telecommunications firms, encouraging the development of new business models, including in-game NFT transactions and crypto asset payments.[18]

Regarding stablecoin regulation, the proposal recommends allowing the use of high-security short-term government bonds and fixed-term deposits of certain durations as backing assets, easing the current restriction that limits reserves to fiat deposits. This adjustment would grant stablecoin issuers greater flexibility in managing funds while maintaining a balance between convenience and security.

These reforms aim to learn from the lessons of the 2022 FTX collapse, reinforcing user asset protection while fostering a favorable environment for innovation. The FSA plans to further refine these proposals and draft the necessary legislative amendments in the future.

Funding News

According to RootData, no projects have publicly announced funding in the past 72 hours.[19]

Airdrop Opportunities

Captain & Company

Captain & Company is a large-scale multiplayer online role-playing game (MMORPG) themed around pirate adventures, offering players a unique seafaring experience. In the game, players can choose to become captains, own digital collectible ships, recruit real players as crew members, and form pirate companies to compete in naval battles for tradable currency.[20]

The CNC token is the core currency of the Captain & Company gaming ecosystem, with a maximum supply of 100 billion. It serves four key functions in the game: players who correctly predict faction war outcomes can share war chest rewards, token holders can participate in governance voting to decide new feature development, balances determine guild levels and unlock additional rewards, and it acts as the ecosystem’s universal currency for purchasing and upgrading equipment.

How to Participate:

1. Visit the official game website, link your wallet, and complete registration.
2. Join a guild to access more gameplay opportunities.
3. Enter the game and participate in battle adventures with other players.
4. Purchase NFT pirate ships and complete more missions.
5. Claim in-game rewards and points.

Note:
Airdrop plans and participation methods may be updated at any time. Users are advised to follow Captain & Company’s official channels for the latest information. Additionally, participants should exercise caution, assess risks carefully, and conduct thorough research before joining. Gate.io does not guarantee the distribution of future airdrop rewards.


References:

1. Gate.io,https://www.gate.io/trade/BTC_USDT
2. Gate.io,https://www.gate.io/trade/ETH_USDT
3. SoSoValue,https://sosovalue.xyz/assets/etf/us-btc-spot
4. SoSoValue,https://sosovalue.xyz/assets/etf/us-eth-spot
5. CoinGecko,https://www.coingecko.com/en/categories
6. Investing,https://investing.com/indices/usa-indices
7. Investing,https://investing.com/currencies/xau-usd
8. Gate.io,https://www.gate.io/bigdata
9. Gate.io,https://www.gate.io/price
10. X,https://x.com/SuperRare/status/1896684306724225050
11. cVault,https://help.cvault.finance/cn
12. X,https://x.com/b3dotfun/status/1896716270671892796
13. Defillama,https://defillama.com/protocol/level
14. Defillama,https://defillama.com/protocol/fulcrom
15. Defillama,https://defillama.com/chain/Sui?stables=true&tvl=false&groupBy=cumulative
16. X,https://x.com/WhiteHouse/status/1898446369674936755
17. Cointelegraph,https://cointelegraph.com/news/utah-senate-passes-bitcoin-bill-but-removes-reserve-clause
18. Cryptonews,https://cryptonews.com/news/japanese-government-signs-off-on-crypto-brokerages-stablecoin-reforms/
19. Rootdata,https://www.rootdata.com/Fundraising
20. Kap,https://www.kap.gg/

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Disclaimer
Investing in the cryptocurrency market involves high risk, and it is recommended that users conduct independent research and fully understand the nature of the assets and products they are purchasing before making any investment decisions. Gate.io is not responsible for any losses or damages caused by such investment decisions.