Although this week started with rises in the crypto market, a negative outlook emerged in the last days of the week. US President Donald Trump continued his rhetoric that put global markets under pressure. Trump expressed his determination to impose tariffs, especially against China, the European Union and Canada. On the other hand, concerns of recession in the US started to increase. All this process caused Bitcoin to lose nearly 5 percent in value in the week that started positively.
The last trading week of March saw a bearish market that was far from bullish. What happened in an eventful week compared to previous weeks? Here are the highlights of the week…
Metaplanet Started the Week with Bitcoin Buying
Metaplanet, the company whose board includes Eric Trump, the son of US President Donald Trump, made a new Bitcoin purchase in the early days of the week. The Japanese company bought 150 BTC, bringing its total assets to 3,350 BTC. Metaplanet, which continues to buy BTC despite the negative outlook of the crypto market, adopts Strategy’s growth plans. As it is known, Strategy has an unrealized gain of $15 billion from Bitcoin purchases.
Ethereum supply on exchanges is at a 9-year low!
Ethereum, the pioneer of altcoins, continues to attract the attention of large investors, even though it performs below expectations. Ether (ETH) ended the week, which started positively, by retreating to the $ 1,870 level. There was a striking data in Ethereum, which approached the monthly close with a big drop. According to research, ETH supply on centralized exchanges is at its lowest level in the last 9 years. Experts claimed that whale wallets accumulated ETH and a liquidity gap occurred on exchanges.
Berachain has started, BERA is up!
Layer-1 blockchain Berachain has launched a proof of liquidity system. Berachain, an EVM-based layer-1 blockchain, has expanded the use of BERA with its Proof of Liquidity (PoL) system. The BERA price was the most notable coin of the week despite the negative outlook in the market. BERA continues to gain momentum with its PoL system, which rivals Proof of Stake (PoS) and Proof of Work (PoS) consensuses.
Strategy’s Bitcoin assets exceed 500,000!
Technology company Strategy continues to buy Bitcoin. According to an SEC filing released on Monday, Strategy bought 6,911 Bitcoins during the recent downturn. The report shows that the company bought 6,911 Bitcoins at an average price of $84,529 between March 17 and 23, spending $584 million on these purchases. While Strategy is sticking to its Bitcoim buying strategy, it is going through tough times. It is claimed that Strategy may go bankrupt if the Bitcoin price continues to fall.
Activity on the Mt Gox exchange
Bankrupt crypto exchange Mt Gox made a stunning transfer this week. The exchange transferred 11,501 Bitcoins to cold wallets. According to analysis platforms, the Japanese exchange transferred $78 million worth of Bitcoin to one wallet and 10,608 Bitcoins worth $929 million to another wallet. Arkham Intelligence warned that these transfers could create volatility in the coming days.
Arbitrum plans to close its Web3 gaming fund
Arbitrum, one of Ethereum’s largest tier-2 startups, is on the brink of a major crisis. Funds raised by Arbitrum to grow its ecosystem have been a major factor in the ARB price drop. Members of Arbitrum’s decentralized organization (DAO) are discussing shutting down Arbitrum’s funding of the Web3 gaming space. On March 24, Nathan van der Heyden called for the recovery of funds allocated to the Arbitrum Gaming Catalyst Program. The call, which was turned into a proposal, received overwhelming support from the Arbitrum community. ARB had lost 81 percent of its value since the introduction of funds for Web3 games.
Trump Media will cooperate with Crpyto.Com!
US President Donald Trump’s company Trump Media will work with crypto exchange Crypto.com. Trump Media and Technology Group, which manages Trump’s social media platform Truth Social, announced the partnership on Monday. Under the partnership, Trump’s media company will work with Crypto.com to offer exchange-traded funds.
GameStop attracts attention with Bitcoin plan
The board of GameStop (GME), a publicly traded technology company in the US, has unanimously agreed to adopt Bitcoin reserves as part of its corporate strategy. GameStop will strengthen its capital assets with regular Bitcoin purchases, just like Strategy. The company has previously come to the fore with GME manipulations. According to experts, GameStop is expected to purchase at least $ 1 billion in Bitcoin.
Bitcoin supply on exchanges is at an 8-year low!
As a result of spot Bitcoin ETFs traded in the US and institutional investors’ long-term savings planning, the supply of Bitcoin on exchanges fell to its lowest level in the last 8 years. According to an X post published by Santiment on March 27, the supply on exchanges fell to 7.53 percent, the lowest level since 2018. The data was interpreted that the short-term selling pressure has narrowed and Bitcoin could rise in the near future. Despite Bitcoin being considered as a savings instrument accompanied by institutional demand, the price fell below the $ 84,000 level.
Ethereum Pectra is coming soon!
Ethereum developers successfully performed the Pectra upgrade on the Hoodi testnet on Wednesday. Earlier tests on Holesky and Sepolia showed problems and the network experienced major instability. On the Hoodi testnet, all issues were resolved and Pectra was successfully integrated into the system. This test shows that Pectra is ready for Ethereum to launch in the second quarter of the year.
Ghibli Animations became popular: GHIBLI memecoin featured!
OpenAI’s latest update to the ChatGPT-4o has sparked a new global trend. A wave of images inspired by Studio Ghibli has taken over social media. Users started creating Ghibli-themed images with commands. This trend contributed to the emergence of a memecoin on the Solana blockchain. Launched on Solana, Ghiblification (GHIBLI) quickly reached a market capitalization of $30 million. Many exchanges listed GHIBLI, while Binance Alpha also launched monitoring for GHIBLI.
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