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The Ethereum Foundation has outlined its strategic direction for Layer 1 (L1) and Layer 2 (L2) networks. In a blog post, the foundation explained that the L1 chain will serve as a central hub for payments and settlement, leveraging its high security and stability to anchor liquidity. In this model, L2s will drive ecosystem expansion through differentiated features and custom designs. The foundation stated that this approach will simultaneously enhance the efficiency and scalability of the entire network.

Binance has announced it will delist several cross and isolated margin pairs at 6:00 a.m. UTC on March 27. The exchange will remove the following pairs for both cross and isolated margin trading: XRP/BNB, AXS/BTC, ETC/BTC, ATOM/BTC, DASH/BTC, BCH/USD1, PUNDIX/USDC, AVAX/USD1, and F/USDC.

The following shows estimated liquidation volumes and position ratios for major crypto perpetual futures over the past 24 hours: - BTC: $207.30 million liquidated (75.99% shorts) - ETH: $168.99 million liquidated (72.92% shorts) - XAU: $29.75 million liquidated (71.66% longs)

U.S. spot Bitcoin ETFs recorded net inflows of approximately $167.46 million on March 23, ending a four-day streak of net outflows, according to data compiled by Trader T. - BlackRock IBIT: +$161.04 million - Fidelity FBTC: +$41.7 million - Ark Invest ARKB: -$9.41 million - Grayscale GBTC: -$25.87 million

Global securities firm Mizuho has lowered its price target for cryptocurrency exchange Gemini to $12. The new target represents a cut of more than 50% from the $26 price target it set in February. Mizuho stated that a bearish outlook for cryptocurrencies, combined with declining trading volumes across exchanges, is likely to impact the company's short-term revenue growth.

A slowdown in XRP whale withdrawals from Binance could signal growing selling pressure, according to an analysis by crypto analyst Arab Chain. In a post on CryptoQuant, Arab Chain noted that the 30-day net outflow from whales has dropped to approximately 1.2 billion XRP, its lowest level since February. Exchange withdrawals are typically seen as a move to hold assets long-term. The current trend, where some large whales are keeping their holdings on exchanges, could be interpreted as a sign of increased selling potential or a weakening commitment to long-term holding. Arab Chain pointed out that this shift is occurring while XRP's price is at a relatively low level, suggesting a stronger wait-and-see sentiment among investors over making new purchases. The analyst concluded that unless the withdrawal trend reverses, the market may become more sensitive to potential selling pressure.

The Digital Society Promotion Headquarters of Japan's Liberal Democratic Party (LDP) has launched a Next-Generation AI and On-Chain Finance Vision Project Team, BeInCrypto reported. Masaaki Taira, a member of the House of Representatives who leads support for Japan's Web3 industry, announced the launch on X. He added that the team held its first meeting today, March 24.

CoinShares has filed an application to launch a Bitcoin volatility ETF, according to Bloomberg analyst Eric Balchunas. The proposed ticker is CBIX.

Resolv Labs has offered a 10% bug bounty to the hacker responsible for the unauthorized minting of $80 million worth of its stablecoin, USR, the project announced on its official X account. The proposal states that if the hacker returns 90% of the stolen funds, approximately $25 million in ETH, they will be allowed to keep the remaining 10% as an incentive and must cease using the illicitly obtained assets. The offer is valid for 72 hours. Following the incident, Resolv has temporarily suspended several protocol functions, including its Season 4 airdrop and RESOLV staking.

The official domain of Bitcoin mixing service Samourai Wallet, which was seized by the U.S. Federal Bureau of Investigation (FBI) last August, is now being exploited for BTC phishing attacks, Cryptopolitan reported. A criminal organization is reportedly using the domain to deceive users and attempt to steal their Bitcoin. The domain is currently active, with NameCheap listed as the registrar.

The Russian government is discussing a regulatory proposal to permit domestic trading of major cryptocurrencies with large market capitalizations and proven trading records, local media outlet RBC reported. According to a draft of the "Digital Currency and Digital Rights" bill obtained by the outlet, the Central Bank of Russia (CBR) would be authorized to allow the circulation of cryptocurrencies with an average market cap of over 5 trillion rubles ($60 billion) for the two years prior to listing and an average daily trading volume exceeding 1 trillion rubles ($12 billion). Cryptocurrencies that currently meet these criteria include BTC, ETH, and SOL. Meanwhile, Russia's financial monitoring agency would be granted new authority to prohibit the trading of privacy-focused coins. The bill is targeted for adoption by the Russian parliament by July 1, with the investment limit for general investors expected to be under $4,000 per year.

An address presumed to belong to Blockchain Capital staked 6,400 ETH, worth $13.82 million, approximately three hours ago, Lookonchain reported. This marks the firm's first additional staking in two years.

South Korean crypto exchange Coinone announced it will list Ripple USD (RLUSD) for KRW trading at 4:00 a.m. UTC today.

Ondo Finance (ONDO) has launched a platform offering customized stock token portfolios for individual investors, Cointelegraph reported. Developed in collaboration with crypto investment startup Glider, the platform allows users to create their own on-chain baskets of stocks that track real-world assets (RWA), providing direct investment exposure without needing a brokerage account. Users can set their own portfolio weights, and the service also supports automatic rebalancing. The platform will initially focus on U.S. stocks, with plans to expand into other asset classes such as commodities. The service has completed its registration with the U.S. SEC ahead of a planned launch in the United States.

EDXM International, a crypto exchange backed by financial giants Citadel, Fidelity, and Charles Schwab, is developing a blockchain-based derivative that tracks the won-dollar exchange rate, Bloomberg reported. The product is designed as a low-cost digital alternative to traditional non-deliverable forwards (NDFs), utilizing the KRW stablecoin KRWQ and USDC. The perpetual futures contract will allow traders to take long and short positions on the KRWQ/USDC pair, with its price mirroring the KRW/USD exchange rate. EDXM stated that the product is scheduled to launch in early April, with a target of reaching $500 million in average daily trading volume within its first year. KRWQ is a KRW-based stablecoin jointly launched by decentralized AI and blockchain developer IQ and Frax Finance (FRAX).

Polymarket has launched a referral program, Polymarket Senior Intern Mustafa announced on X. He explained that users can earn 30% of the revenue from direct referrals and 10% from indirect referrals. Participants may also be eligible for "future rewards," he added. Additionally, Polymarket plans to implement a new fee structure for bets placed starting March 30. Instead of the current flat rate, fees will vary by market, increasing as the probability of an outcome approaches 50%.

CoinMarketCap's Altcoin Season Index has fallen 4 points from the previous day to a reading of 45. The index compares the price performance of the top 100 coins, excluding stablecoins and wrapped tokens, against Bitcoin over the last 90 days. An 'altcoin season' is declared when 75% of these top 100 coins outperform Bitcoin over that period, while the opposite is considered a 'Bitcoin season.' A score closer to 100 indicates a stronger altcoin season.

USDC issuer Circle has warned that delays in reforming Europe's cryptocurrency regulations could slow institutional investment and shift the token market's center of gravity to the United States, The Block reported. While Circle described the European Commission's market integration package as a positive step toward modernizing capital markets, it stated that further enhancements are necessary to foster real market expansion. Specifically addressing the European Union's proposed reforms to its Distributed Ledger Technology (DLT) pilot program, Circle said it largely agrees with expanding the scope of assets and raising transaction limits. However, the company emphasized that current regulations still constrain liquidity and institutional participation. Circle recommended introducing an "adaptive limit" that adjusts flexibly to market conditions and called for a clear roadmap to transition the DLT program from its pilot phase to a permanent framework. The company also expressed concern that a slow pace of reform could cause the industry to gravitate toward the U.S., where on-chain market infrastructure is rapidly advancing.

Major Australian pension fund Hostplus is considering offering a cryptocurrency investment option through its Choiceplus retirement savings product, Bloomberg reported. Sam Sicilia, the fund's chief investment officer, stated that about 1% of Hostplus's total assets are currently invested in Choiceplus. He added that the fund is designing the product's structure and plans to launch it as early as the next fiscal year. Hostplus has approximately $105 billion in assets under management.

The Crypto Fear & Greed Index from data provider Alternative has risen three points from yesterday to 11, though market sentiment remains in a state of Extreme Fear. The index measures market sentiment on a scale where zero represents extreme fear and 100 signifies extreme optimism. It is calculated based on several factors: volatility (25%), trading volume (25%), social media mentions (15%), surveys (15%), Bitcoin's market cap dominance (10%), and Google search volume (10%).

Despite claims that DeFi is dead, the current low yields are merely a feature of the market cycle, according to ivangbi, who works on DeFi at the Ethereum Foundation (EF). He posted on X that while DeFi is criticized for yields lower than traditional finance, this is expected in a bear market where funding rates and token incentives decrease. To solve this, he said, the ecosystem must increase on-chain revenue and infrastructure activity. He also warned that as more projects adopt real-world assets (RWA), investors may find on-chain versions to be inferior. Haseeb Qureshi, a partner at crypto investment fund Dragonfly Capital, agreed, stating that DeFi yields have always fluctuated with the Federal Funds Rate (FFR) and on-chain capital demand. He described the current on-chain yields as cyclical and normal.

Blockchain investment firm ParaFi Capital has raised a new $125 million venture fund, Bloomberg reported. Since early last year, the firm has secured an additional $325 million for cryptocurrency investments and now manages assets totaling approximately $2 billion. The new fund is slated to invest in stablecoins, asset tokens, and on-chain finance for institutions.

A massive $580 million options trade occurred in the oil market just before U.S. President Donald Trump posted on social media suggesting possible negotiations with Iran, the Financial Times (FT) reported. Just prior to Trump's post, 6,200 contracts related to Brent and West Texas Intermediate (WTI) crude were traded, while S&P 500 futures with a notional value of $1.5 billion were also executed at the same time. The FT noted that the market is focused on the timing of the large capital movement, which coincided precisely with the president's official statement, raising suspicions of a potential information leak or preemptive action. After Trump's post, oil prices saw sharp volatility, and the traders who bet on the oil-related options could have made over $100 million in profit in about 20 minutes, the outlet explained.

A provision in a draft U.S. crypto bill that would ban interest payments on stablecoin balances is sparking concern within the industry, CoinDesk reported. The measure is part of a compromise agreement for the crypto market structure bill (CLARITY) that was released on March 21. The ban is seen as a concession to the banking sector, which has sought to prevent stablecoins from becoming a direct competitor to traditional deposits. However, the outlet noted that while the agreement prohibits interest on balances, it may still permit interest generated from stablecoin-related activities. This ambiguity has drawn criticism from those who have reviewed the draft, who pointed to unclear legal standards regarding interest.

Balancer (BAL) founder Fernando Martinelli announced in an official forum that the project's development company, Balancer Labs, will be shut down after being left effectively in debt following a hack last year. He explained, "Due to the v2 exploit in November of last year, subsequent legal action, and the sharp drop in the token price, we have decided to wind down Balancer Labs for the sustainability of the protocol." Martinelli added that going forward, Balancer will be operated by its community, foundation, and service providers rather than a specific company. He also noted that measures will be taken to conduct a buyback for existing BAL holders, adjust the v3 protocol's share, and transfer fees to the community. Balancer suffered approximately $137.4 million in damages from the exploit last year.