It was a turbulent week for the crypto market. A rare Bitcoin bottom signal that preceded a 130% rally in 2024 has flashed again, but analysts are divided on whether the macro environment can support a repeat. Meanwhile, a joint US-Israel bombing campaign in Iran sent Bitcoin price sliding to $63,000 over the weekend, while DeFi quietly hit a landmark as Aave crossed $1 trillion in cumulative lending volume.
Want the full picture? Read this week’s recap below.
SUI Drops 12% Despite Historic ETF Month
Three spot SUI ETFs launched in the US throughout February by Canary Capital, Grayscale, and 21Shares, marking a rare Wall Street legitimization of a layer-1 token. Yet the price has fallen 12% to around $0.88, and each ETF debut has been met with selling rather than buying. Technically, SUI sits in a key support zone, but analysts see limited short-term recovery odds.
Circle Brings USDC to Cardano Through USDCx Launch
Circle has officially launched USDCx on Cardano via its xReserve infrastructure, offering a dollar stablecoin backed 1:1 by USDC. A $14 million mint was spotted on-chain before the formal announcement. The token integrates with Cardano DeFi apps such as Minswap and Liqwid and supports payments, lending, and cross-border settlement. Input Output Global will cover bridging fees for the first 10 days to ease early adoption.
Pi Network Coin Eyes a Comeback on Technical Signals and Exchange Buzz
Pi Network’s token has climbed from $0.13 to $0.17 recently, outpacing Bitcoin and Ethereum. Bullish chart patterns and a recovering RSI suggest further upside, with targets around $0.25. A potential Kraken listing could open the door to millions of new users, while broader crypto market sentiment appears to be recovering from extreme fear levels.
Fear and Greed Index Ticks Up as Crypto Markets Bounce
The Crypto Fear and Greed Index climbed from a year-to-date low of 5 to 16 as Bitcoin recovered from $63,000 to $68,500, and several altcoins jumped by more than 11%. While historically, extreme fear has preceded bull runs, analysts warn this could be a short-lived dead-cat bounce, with geopolitical tensions and weakness in traditional markets posing ongoing risks.
OCC Proposes Rules to Regulate Stablecoins Under New GENIUS Act
The OCC is seeking public feedback on a proposed framework to implement the GENIUS Act, which establishes federal standards for payment stablecoins. Issuers would need full 1:1 reserves in liquid assets, regular audits, and transparent reporting. Notably, the proposal bans stablecoin issuers from paying yield on balances. Foreign issuers would need OCC approval to access the US markets. Comments are open for 60 days.
Aave Hits $1 Trillion in Lending as Institutions Move On-Chain
Aave has crossed $1 trillion in cumulative loan volume, cementing its status as DeFi’s dominant lending protocol with $27.2 billion in total value locked. Its Horizon platform, which lets institutions borrow against tokenized real-world assets, has already reached $1 billion in value, with VanEck and WisdomTree among the early adopters. The protocol generated $83 million in fees last month, though a $42.5 million funding proposal for its development team has sparked debate within governance.
BitMine Stock Eyes Bullish Breakout Despite Sharp Decline
BitMine (BMNR) has crashed from $160 to around $19, but technical charts show a falling wedge pattern that often signals a reversal. Analysts target $25–$30 if a breakout occurs. Supporting the case: extreme crypto fear typically precedes bull runs, short interest sits at 7% (short-squeeze potential), and over 400 institutions, including BlackRock and Goldman Sachs, now hold nearly half the company.
Senator Opens Formal Probe into Binance Over Alleged Sanctions Violations
Senator Richard Blumenthal is investigating Binance after reports alleged the exchange facilitated nearly $2 billion in crypto flows tied to Iranian and Russian sanctioned entities. Blumenthal has demanded internal communications, transaction records, and compliance details from CEO Richard Teng by early March, questioning whether Binance violated commitments made during its 2023 $4.3 billion settlement with US regulators. Binance denies intentionally helping sanctioned parties.
Treasury Hack Forces Step Finance to Shut Down Permanently
Step Finance, one of Solana’s most widely used portfolio dashboards, is closing immediately after hackers exploited a vulnerability on the executive team’s machines to steal millions of SOL from its treasury. Unable to secure funding or find a buyer, the team is winding down all projects, including news platform SolanaFloor. STEP holders will be bought out at pre-hack valuations, and Remora rTokens remain fully backed.
Dogecoin Hovers at Key Support as Macro Pressures Mount
Dogecoin is trading around $0.097, down roughly 1%, as broader crypto markets fell over 2% following Trump’s latest tariff announcement and rising US-Iran tensions. Nearly $470 million in liquidations swept the market, wiping out over $5 million in Dogecoin long positions. Analysts see strong support around current levels, with potential upside targets of $0.15–$0.20 if buyers hold the zone.
BNB Chain Goes Private with zBNB Launch
BNB Chain has rolled out zBNB, a privacy-wrapped version of BNB that hides sender, receiver, and transaction history using zero-knowledge proofs. Users convert BNB through a burn-and-mint process, receiving tokens that work with standard wallets at normal speeds and fees. Early community response has been positive, with no technical issues reported, though regulatory scrutiny is expected.
