Weekly Review: Last week, there were many significant developments in the crypto and NFT markets, shaping investor sentiment and market trends. These events highlight the evolving landscape of encryption, Defi and NFT.
SEC Delay XRP ETF
On Tuesday, the U.S. Securities and Exchange Commission (SEC) delayed its decision to apply for Grayscale XRP ETF. This move is not surprising, as the SEC continues to work to classify XRP as commodity or security. Market sentiment hits XRP price XRP When traders express disappointment, dip slightly. Delays delays extend investor uncertainty about the fate of other crypto ETFs, such as Dogecoin or Solana. But, following the SEC’s big announcement, Franklin Templeton, a well-known name in the industry, also filed an application for the XRP ETF to regulators.
Source: CoinMarketCap
Learn more: XRP Price Forecast: Will XRP recover its ATH?
Ethereum recently added pecttra upgraded Hoodi Testnet
The upcoming week will be a tough day for the Ethereum ecosystem and its supporters, while ETH started on Monday at $1.873. Last week, there was a slight green signal in the ecosystem, especially in terms of technology. Ethereum has launched Hoodi Testnet, the third test network to be upgraded by Pectra, which is scheduled to take place on March 17. After the issues on Holesky and Sepolia, Hoodi aims to test validator exports and ensure stability. If successful, Pectra may land on Mainnet in late April 2025, bringing enhanced functionality to scalability and user experience. After the event, when the ETH price was over, the market reaction was mixed eth A slight uplift reflects hope, but some traders remain vigilant after past upgrade delays. Pectra upgrades are expected to gain a better user experience and lower costs, which may reignite Defi’s enthusiasm
Ripple (XRP) gradually gains mass adoption
Ripple marked a milestone on March 13 to obtain a license from the Dubai Financial Services Authority (DFSA). As the first blockchain to receive such approval in the region, Ripple’s move has pushed ripples to the market, thus increasing the price of XRP XRP Nearly 8% overnight. This allows Ripple to provide cross-border payment services in the UAE. The move strengthened Ripple’s foothold in the Middle East, thus facilitating XRP adoption in global finance. Additionally, through this activity, Ripple has expanded its strategic partnership with regulators in nearly 60 countries around the world, including the United States, Singapore or Ireland. These actions have proved that XRP has gradually become a widely adopted payment coin on an international scale with high practical applicability.
Super-flowing events
Hybrids are a decentralized trading platform that faced famous events last week. The incident occurred during a turbulent week, forcing superfluid to cut leverage restrictions, resulting in a 5% drop in local tokens. So far, two notable trading positions (Whale’s ETH long position is worth $6 million, a short position worth $3.75 million) have significantly impacted hyperliquidity and its traders. Only two trading positions in the “whale” on the platform resulted in huge losses from hyper-flow, with losses of nearly $4 million.
Several DEFI experts debated the platform’s risk management, some of whom called it a wake-up call to unrestricted speculation in dispersed finances. Market sentiment was briefly sore, but the quick response of super liquidity (strategy protocols and reassuring users) stabilized confidence. This episode highlights Defi’s growing pains, and the next step in super liquidity could shape its reputation in a cruel market.
Furthermore, as Macroeconomic News, this week, there will be a FOMC (Federal Open Market Committee) on interest issues. They will not expect to lower interest rates to the fixed income market. This is a sign of a week that is not too eager for crypto and traditional financial markets.
Source: Tronweekly
Opensea suggests listing of the NFT series of Ronin ecosystem
Opensea suggests listing NFT series in the Ronin ecosystem known for Axie Infinity. Although not officially confirmed, the move is welcome and is expected to expand Ronin’s influence in the NFT market. Market sentiment turned bullish, and businessmen bet on game-related NFT revival. Ronin’s community hopes this will attract new users into its ecosystem, potentially promoting Axie’s player base. As NFT demand gradually recovers, Opensea competition may be a strategic step in competition.
SORCE: NFT Calendar
