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Trading volume on the HIP-3 market of decentralized crypto derivatives exchange Hyperliquid (HYPE) reached an all-time high of $5.4 billion on March 23, according to data from on-chain platform Artemis. The volume breakdown included: - Silver: $1.3 billion - WTI Crude Oil: $1.2 billion - Brent Crude: $940 million - Gold: $558 million - Nasdaq: $370 million - S&P 500: $271 million The HIP-3 platform has been gaining popularity as it allows anyone to create a market directly on-chain by staking HYPE. Its key advantages include 24/7 operation, unlike traditional financial futures, and a focus on perpetual contracts. The surge in activity comes as trading volume for commodity-based futures has increased significantly amid rising tensions in the Middle East.

Cardano (ADA) is exhibiting conditions similar to those that preceded a past rally of over 300%, CoinDesk reported. The 365-day Market Value to Realized Value (MVRV) ratio, which reflects the average profit or loss of investors who purchased ADA in the last year, currently stands at -43%. Additionally, the weekly average funding rate for ADA on Binance has dropped to its lowest level since June 2023, signaling the most significant buildup of short positions in three years. CoinDesk noted that if the price begins to rise, this concentration of shorts could trigger a squeeze, forcing traders to buy back their positions and potentially causing an unexpected rally.

Nasdaq-listed biopharmaceutical company Enlivex has secured $21 million to purchase additional RAIN, the native token of Rain Protocol, Cointelegraph reported. The company also announced it has approved a $20 million share buyback plan. Rain is a prediction market protocol based on Arbitrum (ARB).

Upbit has announced that the latest version of its iOS app, currently available on the App Store, is experiencing service connection issues. The exchange has asked users to postpone updating the app to ensure uninterrupted service.

Nasdaq-listed Solmate (SLMT) announced that it held 1,235,834 SOL, worth approximately $113 million, as of the end of February. The company also holds $7.1 million in crypto-related stocks. Solmate is a $300 million Digital Asset Treasury (DAT) founded in the UAE by a former Pantera Capital partner and has previously stated its investment focus is on Solana.

AI-based investment platform Public now supports cryptocurrency trading within Individual Retirement Accounts (IRAs), according to a PR Newswire press release. This allows users to trade major cryptocurrencies such as Bitcoin, Ethereum, and Solana in their IRA accounts, potentially reducing their tax burden.

Binance founder Changpeng Zhao has warned of impersonation scams related to exchange listings. In a post on X, he stated that most individuals offering to help with a Binance listing or claiming a personal connection to him are scammers, adding that he does not know 99.999% of these people and will blacklist them upon confirmation.

DeFi lending platform Fluid Protocol announced it is continuing to repay debt related to the stablecoin USR, which was minted without authorization following a recent hack of the Resolv Protocol. According to Fluid, approximately $70 million in USR debt has been repaid on the BNB and Plasma chains, with the remaining balance expected to be settled within days. The platform also noted that a governance proposal has been posted on-chain to transfer the remaining USR debt to the team's multisig wallet for further settlement with Resolv. Fluid added that it plans to announce a compensation plan for all affected users soon and that all its markets are currently operating stably. The Resolv Protocol had previously disclosed that a hack resulted in the unauthorized minting of about $80 million worth of USR.

An address believed to be associated with the Bhutanese government has transferred 519.7 BTC, worth $36.75 million, to two new wallets, Onchain Lens reported. One of the recipient wallets is thought to be linked to QCP Capital.

Binance founder Changpeng Zhao has hinted at the possibility of staking Aster (ASTER). In response to a post on X from a user asking if he would stake ASTER, Zhao replied that he might give it a try.

BitMEX co-founder Arthur Hayes stated on X that the market is currently overly optimistic. While he hopes the decline will stop, he added that he is unwilling to risk buying at current levels.

South Korea's People Power Party has decided to make repealing the planned income tax on virtual assets its official party platform, The Korea Economic Daily reported. The tax is scheduled to take effect next year. Lawmakers from the party cited several issues with the tax, including fairness, logical inconsistencies, potential double taxation, and the need to foster the digital asset industry. People Power Party lawmaker Park Soo-young said the party has not yet heard the ruling Democratic Party's position on the repeal and hopes it will clarify its stance before tax subcommittee discussions. Kim Eun-hye, the party's senior deputy floor leader, added that a second phase of legislation is just as important as the tax issue. She noted that while her party is ready to negotiate, discussions have not progressed due to the lack of a unified proposal, and called for a more proactive attitude from the government and the Democratic Party.

Men in their 30s are the largest demographic among cryptocurrency users in South Korea, and 74.2% of all accounts hold less than one million won. This is according to a survey for the second half of 2025 covering 27 virtual asset service providers, released today by South Korea's Financial Intelligence Unit and Financial Supervisory Service. The findings show that out of 11.13 million total user accounts, 8.26 million held less than one million won (approx. $725). Accounts with 10 million won (approx. $7,250) or more constituted just 10% of the total, at 1.12 million. Those holding over 100 million won (approx. $72,500) accounted for 1.5%, or 170,000 accounts. A detailed breakdown of individual users revealed that men in their 30s were the most numerous group, with 2 million accounts. By age, the distribution was as follows: 30s (27%), 40s (27%), 50s (19%), 20s and under (19%), and 60s and over (9%).

Binance Wallet will conduct the token generation event (TGE) for PRL at 10:00 a.m. UTC today, the company announced on its official X account. Campaign participants holding a certain amount of Binance Alpha Points can purchase the tokens through a pre-TGE subscription between 8:00 a.m. and 10:00 a.m. UTC. A total of 10 million PRL has been allocated for the event, with further details to be announced. Additionally, Coinbase has previously announced it will list PRL.

South Korea's domestic virtual asset market contracted in the second half of 2025 compared to the first half, News1 reported. According to a survey on the virtual asset industry for the second half of 2025, released by South Korea’s Financial Services Commission on March 25, total domestic virtual asset trading volume reached 1,001 trillion won, a 14% decrease from 1,160 trillion won in the first half. The daily average trading value fell 15% from 6.4 trillion won in the first half to 5.4 trillion won in the second half. Operating profits for exchanges totaled 380.7 billion won, down 38% from 617.8 billion won in the first half. This figure includes a 395.8 billion won profit from won-market exchanges and a 15.1 billion won loss from coin-market-only exchanges.

South Korea's Fair Trade Commission (FTC) has issued a corrective order against Dunamu, the operator of the Upbit exchange, for misleadingly advertising its transaction fees, Aju Business Daily reported. Dunamu advertised on its website that it was offering a significant discount, cutting fees from a supposed standard rate of 0.139% to a promotional 0.05%. However, an FTC investigation found that the company had never actually applied the 0.139% rate to general orders since the exchange's launch. The 0.05% fee, advertised as a temporary discount, has been the standard rate all along. The FTC opted only for a corrective order, which prohibits future violations, after considering that only five notices contained the false information and that their view count was low relative to the website's total traffic.

Cryptocurrency exchange Backpack (BP), which recently conducted its token generation event (TGE), stated on its official X account that no insiders were involved in a related bet on Polymarket. The exchange explained that a trader on Polymarket had placed a large bet that Backpack's fully diluted valuation (FDV) would surpass $200 million within a day of its TGE. As the betting deadline approached while BP's FDV remained around $190 million, some traders appeared to have purchased large amounts of the BP token to push its valuation over the $200 million threshold and win the bet. Backpack added that it launched an investigation but determined the traders involved were not company insiders, emphasizing that the exchange does not tolerate insider trading.

The following shows estimated liquidation volumes and position ratios for major crypto perpetual futures over the past 24 hours: - BTC: $87.99 million liquidated (52.64% longs) - ETH: $46.29 million liquidated (53.42% shorts) - ONT: $6.03 million liquidated (80.33% shorts)

U.S. spot Ethereum ETFs recorded approximately $40.99 million in net outflows on March 24, according to data compiled by Trader T. This marks the fifth consecutive day of net outflows. - BlackRock's ETHA: -$25.17 million - Fidelity's FETH: -$5.81 million - Bitwise's ETHW: -$1.52 million - 21Shares' TETH: +$1.06 million - BlackRock's staking ETHB: +$2.20 million - Grayscale's ETHE: -$1.72 million - Grayscale's mini ETH: -$10.02 million

U.S. spot Bitcoin ETFs recorded a net outflow of $66.71 million on March 24, according to Trader T. The reversal comes just one day after the funds turned to net inflows. - BlackRock IBIT: -$4.76 million - Fidelity FBTC: -$45.35 million - Bitwise BITB: -$16.60 million

South Korea's People Power Party plans to hold a public hearing on repealing the country's virtual asset tax, Digital Asset reported.

ITcen Global, the operator of the Korea Gold Exchange, joined a won-backed stablecoin distribution consortium led by Hana Financial Group in January, according to an exclusive report from SBS Biz. The move is widely seen as a step toward collaboration on a gold-linked stablecoin. The consortium already includes affiliates of SK, Lotte, Hanwha, Hyundai Card, Modetour, and Eugene Group, with SK Telecom, Lotte Mart, and Lotte Chilsung Beverage also considered likely participants.

Song Eon-seok, floor leader of the People Power Party, has criticized the South Korean government's plan to tax income from virtual assets starting in January 2027, arguing the policy is unfair and inconsistent with U.S. policy, Edaily reported. During a meeting with the heads of the country's five largest crypto exchanges, Song said there is a widespread view that it is inequitable to proceed with the crypto tax while the financial investment income tax is being abolished. He also noted that since South Korea already imposes a value-added tax (VAT) by treating virtual assets as commodities, adding an income tax could create issues of double taxation.

Tether, the issuer of the world's largest stablecoin USDT, has paused a $20 billion fundraising plan to undergo its first-ever financial audit, Bloomberg reported. According to the report, potential investors and financial institutions have consistently demanded greater financial transparency from Tether during the fundraising process, though some investors are reportedly still willing to invest even before the audit is complete. Tether recently announced it had selected one of the 'Big Four' accounting firms to conduct an independent audit of its financial statements but did not disclose the firm's name or a specific timeline. The decision to resume the funding round, which was initiated late last year with a target of raising $15 billion to $20 billion, is expected to depend on the audit's results. The fundraising was originally slated to conclude by the end of 2025 but has faced multiple delays.

Crypto market maker Jump Trading has responded to a fraud lawsuit from Terraform Labs, calling it a "desperate attempt" to offload its own fines, DL News reported. Todd Snyder, who is managing the Terraform Labs bankruptcy proceedings, filed a $4 billion lawsuit last December against Jump Trading, its subsidiary, and its executives. The suit alleges they deceived investors and profited illicitly during the Terra collapse. In response, Jump Trading argued the lawsuit is an attempt by Terraform Labs to evade responsibility for a $4.4 billion fine levied by the U.S. SEC in 2024. The firm also claimed the suit lacks specific details on violations or their locations and that the statute of limitations has expired, requesting the court to dismiss the case. Snyder has also drawn market attention for filing a separate lawsuit against market maker Jane Street.