📈 Centralized Exchange Volume in 2024: A Significant Year

📊 The total trading volume of centralized exchanges reached $18.83 trillion in 2024, marking the second-highest total in five years but still below the record of $25.21 trillion set in 2021. Binance continued to dominate the market as the largest centralized cryptocurrency exchange, although its share of the total trading volume among the top 15 exchanges decreased from 47% to 39%. Its trading volume nearly doubled to $7.3 trillion.

🟥 The year 2021 was significant for several reasons, including a surge in altchain activity, Coinbase's listing on Nasdaq, and Bitcoin reaching its then-all-time high. Bybit held the position of the second-largest centralized exchange with a trading volume of just below $1.75 trillion (approximately 9.28% of the total). Crypto experienced a nearly tenfold increase in volume, rising to $1.29 trillion and securing third place. Upbit and OKX completed the top five with volumes of $1.258 trillion and $1.172 trillion respectively.

💪 In 2024, seven centralized exchanges surpassed the $1 trillion volume mark. In contrast, only Binance achieved this milestone in 2023. Crypto was the fastest-growing centralized exchange in 2024, with a remarkable 969.7% increase in volume. Bybit and Gate followed as the second and third fastest-growing exchanges with increases of 397.8% and 241.5% respectively. However, OKX (16.3%), HTX (16.0%), and MEXC (16.6%) experienced a decline in their volume shares over the past five years.

📉 By 2024, OKX, HTX, and MEXC had fallen out of the top five rankings with market shares of 6.2%, 4.4%, and 4.1% respectively. FTX, the exchange previously operated by Sam Bankman-Fried, accounted for 2.6% of the volume in 2021 and 4.8% in 2022 before its collapse.

👉 Brazil's Groundbreaking XRP ETF and Tether's Strategic Move in Agriculture

🌟 This week in Latin America’s crypto landscape: Brazil has made headlines by approving the world's first XRP exchange-traded fund (ETF), Tether is pursuing a majority stake in Adecoagro, and Argentine President Javier Milei addresses the fallout from his endorsement of the Libra project.

💰 Brazil's cryptocurrency market has achieved a significant milestone with the launch of the Hashdex Nasdaq XRP Index Fund, approved by the Brazilian Securities and Exchange Commission (CVM). This ETF allows institutions to invest in XRP, Ripple's cryptocurrency, without the complexities of self-custody. Managed by Genial Investimentos, the fund is currently in its pre-operational phase, positioning Brazil as a pioneer in providing investment options for both institutional and individual investors entering the crypto space.

➡️ In a bold move, Tether is seeking to acquire a 51% stake in Adecoagro, a major agricultural player in South America, for $385 million. The deal includes a 27% premium on Adecoagro's market share prices, making it a likely takeover. Tether stated,

This investment is part of Tether’s broader approach to allocating profits into strategic sectors such as financial technology, artificial intelligence, biotech, and energy.

🗣 Following the Libra project's recent troubles, President Milei defended his actions amidst claims that his social media endorsement led to significant losses for investors. He explained that he shared information about Libra as a financing option for Argentine entrepreneurs but acknowledged the subsequent negative attention it received. Emphasizing personal responsibility, Milei remarked,

If you go to the casino and lose money, it’s your problem.

💰 Memecoins: A Risky Gateway to Crypto Adoption

🚀 Experts are divided on the role of memecoins in the cryptocurrency ecosystem. While some believe they can attract new users, their volatility poses significant risks. One expert warned that the collapse of memecoins can harm liquidity and stressed the importance of caution when investing.

➡️ Coinbase CEO Brian Armstrong recently claimed that memecoins could lead to mass adoption. However, a study by Chainplay and Storibles revealed that many users have had disappointing experiences with politician-endorsed memecoins. In fact, 21% of first-time investors quit crypto after seeing the value of these memecoins drop. This has led to allegations of scams and a decline in trading volume on Solana’s decentralized exchange.

🔍 Despite acknowledging the potential for fraudulence in some memecoins, Armstrong remains optimistic about their role in bringing new users to the crypto space. He believes that free-market principles should allow Coinbase users access to these coins.

🟥 Some experts view memecoins as a double-edged sword. They may help onboard new users but might not support long-term adoption. Victor Young, founder of Analog, pointed out that memecoin volatility can destabilize entire blockchain ecosystems. Arthur Breitman, co-founder of Tezos, added that the collapse of memecoins can hurt liquidity and emphasized the need for investors to screen for fraudulent tokens.

📈 Young also agreed with Armstrong that the long-term success of the crypto industry depends on building sustainable products. He suggested that for memecoins to become a credible asset class, the industry must combine their cultural appeal with genuine utility. Additionally, he stressed the importance of strong regulation and investor education for market stability.

📉 Bitcoin and Ether ETFs Face Extended Outflows

📉 Bitcoin and ether exchange-traded funds (ETFs) are experiencing significant challenges due to persistent outflows. Bitcoin ETFs have faced an eight-day streak of withdrawals, with $275.83 million withdrawn on February 27. Ether ETFs also saw $71.08 million in outflows, extending their streak to six days.

👉 The largest outflow from bitcoin ETFs came from Blackrock’s IBIT, which reported a withdrawal of $189.02 million. Wisdomtree’s BTWC followed with an outflow of $53.78 million. Other notable withdrawals included Valkyrie’s BRRR ($12.82 million), Vaneck’s HODL ($10.58 million), and Grayscale’s GBTC ($7.26 million). Fidelity’s FBTC and Franklin’s EZBC each saw outflows of approximately $7.25 million while Grayscale’s BTC experienced a $5.54 million withdrawal. Bitwise’s BITB was the only fund to record inflows, attracting $17.65 million.

📌 Ether ETFs also faced significant outflows. Blackrock’s ETHA led with $26.06 million in withdrawals, followed by Fidelity’s FETH with $25.45 million and Grayscale’s ETHE with $19.57 million.

❗️ These consecutive outflows have resulted in a decline in the total net assets of both bitcoin and ether ETFs. Bitcoin ETFs’ total net assets have decreased to $94.3 billion, while ether ETFs now stand at $8.27 billion. Over the past eight days, bitcoin ETFs have experienced outflows totaling $3.27 billion, and ether ETFs have recorded outflows worth $315.53 million over the six-day period.

🌍 IMF's Stance on Bitcoin: Lessons from El Salvador

👉 In this edition of Latam Insights Encore, we explore the recent developments between the International Monetary Fund (IMF) and the Salvadoran government, particularly in the context of Bitcoin adoption. As the first country to recognize Bitcoin as legal tender, El Salvador's agreement with the IMF may set a precedent for other nations considering similar moves.

💰 Last week, the IMF executive board approved a $1.4 billion deal with El Salvador, emphasizing the importance of restricting state-level Bitcoin usage. IMF Deputy Managing Director Nigel Farage stated that the agreement includes provisions to address

bitcoin risks

and will limit government engagement in Bitcoin-related activities.

⚠️ This deal suggests that the Bukele administration has agreed to reduce its Bitcoin purchases in exchange for IMF support aimed at stabilizing the national economy. However, this sets a concerning precedent for emerging countries that wish to adopt cryptocurrencies as reserve assets or legal tender. The IMF is conditioning its assistance on the abandonment of Bitcoin initiatives that promote national independence.

🔄 As Bitcoin gains recognition as a reserve asset, there is a call for a new crypto-based economic structure that aligns with the decentralization ethos of Bitcoin. This structure should provide economic aid to countries opting out of the fiat system. However, until such a system is established, the IMF is likely to use El Salvador's deal as a model for discouraging Bitcoin adoption at the nation-state level.

🚫 The message from the IMF is clear:

Want funds? Drop bitcoin!

🟥 Argentine Prosecutor Freezes LIBRA Tokens Amid Ongoing Investigation

👉 Eduardo Taiano, the Argentine prosecutor investigating President Javier Milei and the LIBRA cooperators, has ordered the freezing of all LIBRA tokens linked to the case. He is also examining the activities of addresses holding LIBRA that have purchased other currencies.

📈 The investigation into LIBRA, a meme coin promoted by Milei before its collapse, is progressing. Taiano is seeking evidence to connect the group behind the currency's launch with Milei. He has requested a detailed report on all LIBRA token movements to identify the most benefited addresses and cross-reference them with their holders. However, the pseudonymous nature of these accounts complicates this task.

🔒 To prevent obfuscation and determine potential money laundering involving LIBRA movements to other platforms, Taiano has ordered a complete freeze of the assets involved in the investigation. He has reached out to international exchanges for data on LIBRA’s token movements.

💰 One of the addresses under investigation has already purchased other meme coins, which may suggest an asset laundering scheme. Additionally, Taiano is cross-referencing communications and visits to establish direct responsibility for LIBRA’s launch. He has requested phone records and visit registries to link the allegedly involved group, including President Milei.

↪️ Karina Milei, the president’s sister, is also facing allegations regarding possible bribes for access to Milei, disguised as “consulting fees.”

➡️ Reports suggest that investigations are also progressing in the U.S., with the Department of Justice initiating a probe that is currently in its early stages.

❗️ President Milei has consistently denied any involvement in the scheme affecting over 44,000 investors. He stated in a February TV interview,

If you go to the casino and lose money, it’s your problem.

💳 Bitcoin as Payment for Trump's Gold Card Proposal

💬 David Bailey, CEO of BTC Inc., suggested that bitcoin could be used to pay for the proposed "gold card" initiative by the Trump administration. This card would allow wealthy individuals to gain U.S. residency without utilizing taxpayer funds, thereby contributing to the country's strategic Bitcoin reserve.

💡 The official establishment of a strategic bitcoin reserve (SBR) in the U.S. has opened up various avenues for expansion without burdening taxpayers. Bailey, who attended the recent Trump crypto summit, proposed that the gold card—which would enable affluent foreigners to secure their place in the U.S.—could be purchased with bitcoin.

Many elites in emerging markets want to live in the U.S. but struggle to move $5M in USD out of their home countries. Bitcoin offers a simpler, safer, and more discreet solution,

Bailey stated on social media.

🗓 This idea aligns with Trump's earlier announcement on February 25 about the gold card initiative. He described it as a paid alternative to the green card that would facilitate citizenship for wealthy individuals willing to invest around $5 million. Trump emphasized,

We’re going to be putting a price on that card of about $5 million and that’s going to give you green card privileges.

📌 Trump also mentioned the possibility of Russian oligarchs purchasing this card, saying,

I know some Russian oligarchs that are very nice people.

🔍 If implemented, this measure would signal the U.S.'s commitment to integrating bitcoin into its policy framework, despite some analysts questioning this direction amidst ongoing pro-crypto initiatives by the current administration.

No more waiting! Daily Secret Ticket Hunt is LIVE! 🛞

This is your golden chance to score the best SEED Mon Boxes with:
🛍 Discount Tickets – From 10% to 100% OFF on SEED Mon Boxes!
⚡️ Rarity Boosts – Increase your chances of getting rarer Mons with Basic, Super & Ultra boosts!

🎯 How to join: Spin the lucky wheel daily until 10:00 UTC, Mar 17 to claim your tickets! Miss a day, lose it forever! ⏳

⚠️ Important Ticket Notes:
🔹 Each ticket is unique and can only be used once.
🔹 Only the ticket owner can redeem it.
🔹 Tickets cannot be traded.

📖 Need more details? Check out our Gitbook: Daily Secret Ticket Hunt!

🎯 Let the hunt begin — may luck be on your side!

🌎 SEED Go | 👍 Discord | 👍 Twitter | 👍 Coinmarketcap

👉 Bolivia Embraces Cryptocurrency for Fuel Imports Amid Dollar Shortage

✅ Bolivia has implemented a cryptocurrency-based system for paying fuel imports through its state-owned company YPFB, due to a shortage of dollars and declining foreign reserves. YPFB, the largest energy company in the country, is prepared to use cryptocurrency payments to secure fuel and energy imports.

💱 The company has developed a system to account for crypto payments amidst the ongoing scarcity of dollars. A YPFB spokesperson stated that this system supports the national subsidy policy for fuel purchases, saying,

From now on, these (cryptocurrency) transactions will be carried out.

📢 Government officials have publicly confirmed the establishment of this system and the company's intention to use it, although it has not been utilized yet. While the announcement does not specifically mention stablecoins, officials have acknowledged their value as dollar substitutes. Central bank president Edwin Rojas Ulo emphasized the benefits of stablecoins in July, stating that using them is

as if one were trading in North American currency, although what one is doing are operations with these digital assets.

🔄 This development follows the central bank's decision to lift the ban on cryptocurrency use last year, allowing users to conduct crypto transactions through their bank accounts. Since this ban was lifted, Bolivia has experienced a surge in crypto activity, with increasing volumes and proposals to use crypto, such as USDT (a dollar-pegged stablecoin), to stimulate the local economy.

Crypto moves FAST! A single tweet from the right KOL can change everything in a heartbeat.
But what if you could track, analyze, and trade these insights instantly?
Introducing the NFA X Auto-Trading Bot – your AI-powered assistant that transforms tweets into real-time trade opportunities.

💎 Follow top KOLs automatically
💎 Get instant trade alerts
💎 Auto-Trade calls 24/7
💎 Customize your feed & track favorite influencers
💎 Never miss a call

Rumor has it, early adopters may be eligible for exclusive airdrop!

For the first time in your life, you can be early - @NFA_Club_bot

📱 X | 📱 Discord | 📱 TG Group | 📱🤖 TG Bot

🌍 Hive Digital's Ambitious Expansion Plans in Paraguay

🚀 Hive Digital, a leading public bitcoin miner, plans to increase its operational capacity by over 400% in Paraguay, leveraging the country's abundant hydroelectric energy. Frank Holmes, the company's Executive Chairman, announced these ambitious plans during The Street’s Roundtable.

💬 Holmes emphasized the significance of Paraguay for Hive Digital's growth, stating,

We’re going to go up above 400%. You got to think that we’re going to be having triplets over the next nine months as we build out Paraguay, which has a huge surplus of hydroelectricity.

He highlighted that the Paraguayan government supports bitcoin mining operations, as they provide a steady income in U.S. dollars for electricity that would otherwise be sold to Brazil at lower rates.

We’re actually a great engine for the government because they’re going to get paid U.S. dollars every month for that electricity, and we help build out the infrastructure within the community,

Holmes added. This partnership allows Hive Digital to capitalize on the energy surplus from the Itaipu dam, one of the world's largest hydroelectric facilities.

➡️ Hive Digital announced its entry into Paraguay in July, despite recent power fee hikes aimed at bitcoin miners. These increases raised concerns among some companies about the feasibility of continuing operations in the country. However, President Santiago Pena reassured that while profit margins might decrease, mining operators would still find value in staying in Paraguay.

💰 Solv Protocol Secures $10M to Enhance Bitcoin Yield for Institutional Investors

🚀 Solv Protocol, a bitcoin staking platform, has secured $10 million through its "Bitcoin Reserve Offering" to capitalize on the increasing institutional demand for bitcoin (BTC). This move comes after the U.S. Securities and Exchange Commission (SEC) approved the first spot bitcoin exchange-traded funds (ETFs) in 2024, paving the way for greater institutional adoption.

When institutions put their bitcoin into our bitcoin reserve, we won’t let it be idle,

said Solv co-founder Ryan Chow. He emphasized that the platform will actively deploy these assets into BTC yield-generating vehicles.

💡 Traditionally, holding bitcoin does not generate yield; investors only realize profits upon selling. Solv Protocol addresses this issue by offering staking yields to institutions. In return for depositing their bitcoin, institutions receive yield-bearing instruments similar to convertible bonds.

Chow elaborated on Solv's investment strategy:

We use the BTC as a pledge to borrow stablecoins, and then we invest the stablecoins in all those other ways.

The platform invests in various assets, including stablecoins like Ethena’s USDe, which currently offers a 4% yield but has previously reached returns of 56%.

🔍 Solv aims to conduct further fundraising rounds for its reserve. Chow mentioned that while he could not disclose specific names, large players in the crypto space have already committed funds for upcoming rounds.

SEED MON NFT is now on sale! 🎮

Due to massive demand from community, SEED is thrilled to drop:
🎁 290,000 Mon Blind Boxes
⏰ 7 AM UTC, Mar 20.

👉 HERE'S HOW TO BUY

🟢 NFT Boxes and NFT Mons are able to withdraw and tradeable on NFT Marketplace - tradeport.xyz.
🟢 Real Earning - $SLOVE, $SEED and some hidden gems.
🐧 You can explore the earning potential here

Those boxes are your only pass to earn in SEED Go, launching Mar 26. Don’t get left behind!

🟢 Web App | 👑 Tele App | 🌎 SEED Go | 👍 Discord | 👍 Twitter | 👍 Coinmarketcap

🚨 Strategy Funding: Michael Saylor Raises $722 Million to Accelerate Bitcoin Bet 📢

Michael Saylor's Strategy funding raises $722M through Series A stock sale to expand Bitcoin holdings, bringing total to over 500,000 BTC.

👉 Read more

⚠️ Beware of Scam: Fake Arrest Warrants for Missed Jury Duty

🚨 The U.S. District Court of the Western District of Virginia has issued a warning about a fraudulent scheme involving counterfeit arrest warrants related to missed jury duty. This scam uses forged documents that mimic official court forms and falsely claim to be from the Eastern District of Virginia.

“Please be advised that the United States district courts do not issue arrest warrants for failing to appear for jury duty unless you actually have been summoned for jury duty and fail to appear,”

the court stated. Scammers exploit individuals' fear of legal consequences by presenting these fake documents and demanding immediate payment under the threat of arrest.

💰 The perpetrators instruct victims to send money through hard-to-trace methods such as bitcoin, gift cards, or bank account information. Court officials emphasized the importance of verifying the authenticity of any suspicious documents, especially those requesting payment via bitcoin or gift cards.

If you receive an arrest warrant or other document purportedly from the United States district courts that demands money, particularly bitcoin and gift cards with payment by phone, please contact the United States District Court for the Western District of Virginia to confirm its legitimacy.

📈 With similar scams increasing nationwide, authorities urge the public to be cautious and avoid sharing financial information in response to unsolicited legal threats.

$SLOVE is now listed on Cetus!

📄 Contract: 0x6dd439dee053557b3dd340287a4b81099b3e729cb48fbdae726dd2dff82736c3::slove::SLOVE
🔗 Pair: SLOVE/SUI
🌐 Accumulate $SLOVE to upgrade and breed your Mons here: https://www.dextools.io/app/en/sui/pair-explorer/0x7249180ebceeaa0700c4f4851507e8c357930bb06f3dba041b8816c39d88e625?t=1742903812728

⚠️ IMPORTANT: scammers are gonna try their luck too.

🚫 DO NOT trust random links or fake contracts.
✅ Only follow SEED official channels below!

➡️ MEXC Uncovers and Liquidates Market Manipulators

🔍 Cryptocurrency exchange MEXC recently announced the liquidation of a large-scale group of market manipulators involved in self-trading, spoofing, layering, front-running, and quote stuffing. The operation affected 44 users from Vietnam and 138 from CIS countries, leading to the freezing of 168 Vietnamese accounts and over 1,500 CIS accounts.

📈 In a March 25 blog post, MEXC expressed concern over the involvement of large groups and institutional-level actors in these manipulations. The exchange reported a 60% increase in coordinated malicious trading activities from January to February this year.

⚠️ This revelation follows a Kaiko Research report that highlighted how rising incidents of market manipulation in decentralized finance (DeFi) are driving away institutional investors. These incidents may attract regulatory scrutiny, potentially leading to rules that could harm the DeFi ecosystem.

📊 MEXC noted that market manipulators are using institutional-level access to liquidity and infrastructure to execute large-scale schemes, introducing new risks. The exchange stated,

We are witnessing the transformation of manipulations from the retail to the group and even quasi-institutional level, which carries systemic risks for both individual exchanges and the market infrastructure as a whole.

💰 Some involved accounts had daily trading volumes exceeding $20 million, with algorithms creating short-term distortions on individual pairs and increasing volatility by up to 120%. MEXC warned that if these actions had gone unnoticed, they could have resulted in mass liquidations and significant market price distortions.

🔗 In addition to suspending the flagged accounts, MEXC plans to share its investigation findings with relevant authorities and regulators. Tracy Jin, COO of MEXC, emphasized that this case highlights emerging threats to digital markets and warned of potential market instability without proper coordination between platforms and regulators.

👉 Tokenized Warehouse Inaugurated in El Salvador

🌟 El Salvador is leading the way in utilizing tokenized instruments for business financing. The Cobodosa complex, developed by Burgo de Osma and MIO3, is the first successful example of this model in the country. Spanning 10 independent modules and costing $21 million, the complex was partially funded through tokenized sales.

Today we are not only inaugurating a first-class warehouse complex, but we are also witnessing the beginning of a new era for real estate investments in the country,

said Javier Aylagas, president of Burgo de Osma. He emphasized the significance of the Digital Assets Law in facilitating this shift.

💡 Julio Valdez, CEO of MIO3, noted that

the adoption of digital assets has strengthened the confidence that investors and buyers have in the market.

The tokens for the Cobodosa project were purchased by two undisclosed international investment funds rather than being publicly offered.

📈 The Digital Assets Law, approved in 2022, has already authorized over $5 billion in issuances for 2024, with expectations for further growth following successful implementations. However, it's worth noting that an earlier attempt to use tokenization for a Hilton hotel project in El Salvador failed due to lack of interest.

🟥 AUSTRAC Raises Concerns Over Crypto ATM Providers' Compliance

⚠️ AUSTRAC, Australia's financial services watchdog, has expressed concerns regarding the anti-money laundering (AML) and counter-terrorism financing (CTF) measures of some crypto ATM providers. The agency's CEO, Brendan Thomas, stated that a task force has identified "worrying trends and indicators of suspicious activity," including fraudulent transactions.

📈 In a statement on March 31, AUSTRAC highlighted the need for increased scrutiny due to the rapid growth of crypto ATMs in Australia, which are projected to rise from 23 in 2019 to 1,600 by 2025. Most of these new ATMs are being installed by digital asset exchanges and primarily facilitate cash deposits for purchasing bitcoin.

We want to ensure crypto ATM providers have robust practices to minimize the risk that their machines can be used to launder dirty money or to scam and defraud innocent people,

Thomas said. He emphasized AUSTRAC's commitment to working with the industry to raise standards while also taking action against non-compliant operators.

🛠 AUSTRAC has also announced that crypto entities, including ATM providers, will be required to provide financial transaction information. The agency has developed resources to assist cryptocurrency exchanges in identifying financial crime risks and encourages users to report any suspected fraudulent activity related to crypto ATMs.

Seedizens, SEED Go’s launched, kicking off Web3 gaming in the real world. You can now farm $SLOVE - $3 to $30/day potential. Confused? Alex got you:

Getting Started is Simple:
✅ Get a SEED Mon: Need at least one - grab it from the marketplace if you’re Mon-less.
✅ Open the SEED App: Go to Discovery, find the nearest tree on the map, and send your Mons hunting.
✅ Earn $SLOVE: Use your NFT Mon and a bit of $SLOVE to stack more $SLOVE.
✅ Calculated Potential Earnings: Add your Mon stats into the dashboard.

Why earning $SLOVE is looking pretty sweet? Let’s do a quick math:

🔻Mon Price: 3 SUI (Common), 40 SUI (Rare)
🔻Team Setup: 8 Common + 1 Rare = 64 SUI (~$150).
🔻$SLOVE Price: ~$0.16.
🔻Earnings at Lv9: 114 $SLOVE/day = ~$18/day.
🔻Break-Even: ~14 days (with upgrades).

💡 Your strategy decides the bag - could be juicy profits! Alex is handing you this earning shot, don’t sleep on it, fam!