Chart data indicates that XRP may currently be setting up to record a 600% increase against Bitcoin, which could massively impact its price in dollar terms. The broader crypto market recently recorded a fifth consecutive monthly loss amid a 13.41% decline in February 2026. Visit Website
Kraken Pro expanded its edge with realized P&L insights, new futures integration with Insilico, VIP private aessions, the launch of Kraken Flexline, xStocks on margin, trading incentives, enhanced UI personalization, and expanded market listings — all designed to give traders more clarity, flexibility, and control on one platform. Here’s what’s new: Realized PnL Realized P&L gives you a clear view of the profits and losses you’ve locked in from your spot trades — calculated as the difference between your sale price and average purchase price. No assumptions. No noise. Just a precise view of your executed performance. Kraken Futures Integration with Insilico Futures is now available directly through Insilico , giving traders access to one of the most trusted crypto futures platforms. Could you be a Kraken VIP? This month, we’ve been rolling out private market briefings with Kraken Chief Economist Thomas Perfumo, along with an expanded slate of 1:1 sessions with Kraken product leaders — giving VIP clients direct access and influence into what we’re building next. Want to learn more about the program? Visit the VIP page to find out more and how to qualify. Flexline We’re excited to announce Kraken Flexlin e , a crypto-secured loan that allows clients to borrow against their crypto holdings at fixed rates — without complicated DeFi protocols or opaque lending structures. xStocks on margin Trade tokenized equities 24/7 with 3x leverage for select assets — without selling what you already own. xStocks margin on Kraken Pro brings equity-style exposure into a familiar crypto margin experience. KFEE volatility campaign Until March 5, 2026, claim $200 in Kraken Fee Credits (KFEE) to offset Futures trading costs and stay flexible in volatile market conditions. Available to the first 2,000 clients. HBAR Futures Challenge Join the HBAR Futures Challenge , trade the HBAR perp and compete for your share of $30,000 in HBAR — with rewards distributed proportionally based on trading volume. To qualify, trade a minimum of $1,000 in total HBAR perp volume during the promotion period. Available through March 26, 2026. New trading page selectors Choose the trading experience that fits your strategy. Toggle between Simple and Advanced on the Pro trade page — whether you want streamlined execution or full-depth tools, your workspace adapts to you. New asset listings — ready on Day One 32 fresh spot and futures assets listed this month — each with deep books, instant funding, and full Kraken Pro charting. Explore Kraken Pro Geographic restrictions may apply. Availability of margin trading services is subject to certain limitations and eligibility criteria . Trading using margin involves an element of risk and may not be suitable for everyone. Read Kraken’s Margin Disclosure Statement to learn more. Trading derivatives and other financial instruments, including leveraged financial instruments, involves significant risks and is not appropriate for all investors. You could lose more than your initial investment. See our Risk Disclosure to learn more. xStocks are issued by Backed Assets (JE) Limited (a Jersey private limited company) and offered to eligible Kraken customers via Payward Digital Solutions Ltd. (“PDSL”), a company licensed to conduct digital asset business by the Bermuda Monetary Authority. xStocks are not nor will be registered with any local securities regulators. PDSL (Kraken) does not provide investment advice and/or recommendations, and, no communication, through any Kraken App or website or otherwise, should be construed as such. Individual investors should make their own decisions or seek professional independent advice if they are unsure as to the suitability / appropriateness of any investment for their circumstances or needs, including potential tax treatment. Investing in xStocks involves an element of risk. The value of an investment may go down as well as up, and past performance is not a reliable indicator of future results. Not available in the U.S. or to U.S. persons. Geo restrictions apply.Read Kraken’s xStocks Risk Disclosure at kraken.com/legal/xstocks as well as the Base Prospectus and related Final Terms for xStocks at https://assets.backed.fi/legal-documentation to learn more. Margin on Stocks is offered to eligible Kraken customers via Payward Digital Solutions Ltd. (PDSL”), a company licensed to conduct digital asset business by the Bermuda Monetary Authority. Neither this product nor ×Stocks are or will be registered with any local securities regulators. Not available in the US and other geographic restrictions apply. Availability of margin trading services is subject to certain limitations and eligibility criteria. Trading using margin involves an element of risk and may not be suitable for everyone. Read Kraken’s Margin Disclosure Statement to learn more. Using Kraken Flexline involves risk, may have tax implications, and may result in the loss of capital. Borrowed assets subject to withdrawal limits. Availability of Kraken Flexline is subject to certain limitations and eligibility criteria. This page is for informational purposes only and is not a recommendation to use Kraken Flexline. See Kraken Flexline terms at www.kraken.com/legal . These materials are for general information purposes only and are not investment advice or a recommendation or solicitation to buy, sell, stake or hold any cryptoasset or to engage in any specific trading strategy. Kraken does not and will not work to increase or decrease the price of any particular cryptoasset it makes available. Some crypto products and markets are regulated and others are unregulated; regardless, Kraken may or may not be required to be registered or otherwise authorized to provide specific products and services in each market, and you may not be protected by government compensation and/or regulatory protection schemes. The unpredictable nature of the cryptoasset markets can lead to loss of funds. Tax may be payable on any return and/or on any increase in the value of your cryptoassets and you should seek independent advice on your taxation position. Geographic restrictions may apply. See Legal Disclosures for each jurisdiction here . The post Kraken Pro: February 2026 Shipping Report appeared first on Kraken Blog .
Sony Bank and JPYC will study real-time transfers enabling customers to buy the yen-pegged stablecoin JPYC directly from their bank accounts.
Gold (XAU/USD) price has benefited extremely from the Middle East conflict. As the conflict in the Middle East escalates, Gold price surged 3.31% in the past 24 hours to reach a local high of about $5,422 per ounce on March 2, 2026, during the early European trading session. Gold (XAU/USD) daily chart. Source: TradingView As such, Gold’s market cap surged to around $37.69 trillion, since its amount of above-ground reserves is about 216,265 metric tonnes. Why is the Gold price surging today amid the U.S. Dollar surge? The main reason why the price of gold is surging today is due to the extreme demand recorded in China in the past few days. Although the U.S. Dollar has gained in value, as shown via 0.7% gain in DXY today, Chinese investors have flocked to the precious metals market. Furthermore, China’s share of the U.S. Treasuries has been on a steep decline in recent years. China’s share of U.S. Treasuries. Source: X Earlier today, X user Bai Xiaojun reported that extreme retail demand for gold pushed the prices to a high of $5,574/oz. Furthermore, Xiaojun showed that JD.com Inc. (Hong Kong: 9618), China’s largest gold store, experienced login glitches due to extreme retail demand. Why is Bitcoin price down for 5 consecutive months? Amid the ongoing precious metal bull rally, the Bitcoin (BTC) price has been trapped in a macro bear market. Following its over 15% dump in February 2026, the flagship coin has now closed five consecutive months in the red. BTC/USD monthly chart. Source: TradingView Bitcoin price has been trapped in a macro bear market primarily due to the notable decline in its Open Interest (OI) amid heavy liquidation of long traders. Amid the ongoing macroeconomic uncertainty, mainly due to the Middle East crisis, Bitcoin’s OI has dropped from above $62 billion in mid January 2026 to hover about $43 billion at press time. BTC OI for 2026. Source: CoinGlass Meanwhile, Bitcoin price has suffered macro bearish outlook catalyzed by low spot demand. According to market data from SoSoValue , the United States Spot Bitcoin Exchange-Traded Funds (ETFs) recorded a total net outflow of $27.55 million on Friday, February 27, 2026. Interestingly, the U.S. spot BTC ETFs have recorded four consecutive months of outflows of about $6.4 billion. The post Gold price spikes above $5,400 amid Middle East war as Bitcoin drops appeared first on Finbold .
BitcoinWorld US ISM Manufacturing PMI Data: The Critical Catalyst That Could Shake EUR/USD Markets WASHINGTON, D.C. – December 1, 2025 – The US ISM Manufacturing PMI data stands as one of the most anticipated economic releases for forex traders worldwide, particularly those monitoring the EUR/USD currency pair. This monthly indicator consistently demonstrates significant power to move global currency markets, often triggering immediate volatility across major trading platforms. Market participants globally prepare their strategies around this release, understanding its historical impact on dollar valuation and subsequent EUR/USD fluctuations. Understanding the US ISM Manufacturing PMI Release Schedule The Institute for Supply Management consistently publishes its Manufacturing Purchasing Managers’ Index on the first business day of each month at 10:00 AM Eastern Time. This timing places the release during active trading hours for both European and American markets, maximizing its immediate impact on currency pairs like EUR/USD. The ISM follows a strict publication calendar that financial institutions worldwide monitor closely. Market analysts typically receive advance notice of the exact release date through the ISM’s official calendar, allowing traders to prepare their positions accordingly. Historical data reveals that the manufacturing PMI maintains particular significance during economic transition periods. For instance, during the 2023-2024 monetary policy shifts, PMI readings directly influenced Federal Reserve decisions that subsequently affected EUR/USD valuations. The report’s components – including new orders, production, employment, supplier deliveries, and inventories – provide comprehensive insights into US manufacturing health. Each component carries specific weight in the overall index calculation, offering nuanced signals about economic direction. How Manufacturing Data Directly Influences EUR/USD Movements The EUR/USD currency pair responds to US manufacturing data through multiple transmission channels. First, strong PMI readings typically strengthen the US dollar as they suggest economic expansion and potential interest rate increases. Conversely, weak manufacturing data often weakens the dollar against the euro. The relationship follows fundamental economic principles where currency values reflect relative economic strength between regions. Second, the Federal Reserve closely monitors ISM data when formulating monetary policy. Manufacturing strength or weakness influences decisions about interest rates and quantitative easing – policies that directly affect currency valuations. Third, institutional investors adjust their portfolio allocations based on manufacturing trends, creating substantial capital flows that move exchange rates. Fourth, algorithmic trading systems automatically execute trades based on PMI deviations from consensus forecasts, amplifying initial market reactions. Historical Correlation Analysis: PMI vs. EUR/USD Statistical analysis of the past decade reveals consistent patterns between ISM Manufacturing PMI releases and EUR/USD movements. A study of 120 monthly releases between 2015-2024 demonstrates that surprises exceeding 2 points from consensus forecasts typically generate immediate EUR/USD movements of 40-80 pips. The direction depends on whether the surprise is positive or negative for the US economy. Recent PMI Releases and EUR/USD Impact Date PMI Actual Forecast EUR/USD Movement Nov 2024 52.3 51.8 -0.42% (Dollar Strengthened) Oct 2024 50.8 52.1 +0.68% (Dollar Weakened) Sep 2024 51.5 51.0 -0.31% (Dollar Strengthened) The manufacturing sector’s importance stems from its position as an economic bellwether. Manufacturing activity reflects: Global demand patterns through export orders Domestic consumption trends via inventory levels Employment conditions in industrial regions Supply chain health through delivery times Business investment via capital expenditure plans Key Components That Forex Traders Monitor Closely Experienced EUR/USD traders analyze specific PMI components beyond the headline number. The new orders index receives particular attention as it indicates future manufacturing activity. Production levels show current output, while employment figures suggest labor market conditions in manufacturing. Supplier deliveries reveal supply chain efficiency, and inventories indicate demand expectations. Furthermore, the prices paid component offers inflation insights that influence monetary policy expectations. Each component moves markets differently based on current economic narratives. During inflation-focused periods, prices paid data generates stronger reactions. During growth-focused periods, new orders and production data dominate market responses. Seasoned analysts compare component movements to identify divergences that might signal turning points. Expert Analysis: Interpreting PMI for Currency Trading Financial institutions employ dedicated economists to interpret PMI data for trading desks. According to standard analytical frameworks, PMI readings above 50 indicate manufacturing expansion, while readings below 50 signal contraction. However, the market reaction depends on several contextual factors including: Consensus expectations before the release Recent trend direction of manufacturing data Broader economic context including other indicators Central bank policy stance at release time Global manufacturing conditions in competing economies The European Central Bank simultaneously monitors equivalent Eurozone manufacturing data, creating a comparative framework that influences EUR/USD. When US manufacturing outperforms Eurozone manufacturing, EUR/USD typically trends downward. When Eurozone manufacturing shows relative strength, the pair often appreciates. This comparative analysis explains why traders immediately reference Eurozone PMI releases alongside US data. Trading Strategies Around PMI Releases Professional traders implement specific strategies around ISM Manufacturing PMI releases. Some institutions employ volatility-based approaches, expecting increased trading ranges regardless of direction. Others use directional strategies based on forecast deviations. Risk management becomes particularly crucial during these releases due to potential slippage and rapid price movements. Many trading platforms experience elevated volume in the minutes surrounding the 10:00 AM release. Electronic trading systems sometimes process thousands of orders per second during this period. Retail traders often employ pending orders to enter positions at predetermined levels, while institutional traders use algorithmic execution to manage large positions. Historical volatility studies show that the 15-minute period following PMI releases typically exhibits 3-5 times normal EUR/USD volatility. Successful trading around economic releases requires understanding not just the data but market positioning beforehand. If markets already price in strong manufacturing data, even a positive surprise might generate limited movement. Conversely, unexpected data during low-expectation periods can trigger exaggerated responses. This positioning analysis separates novice from experienced PMI traders. Conclusion The US ISM Manufacturing PMI data remains a critical catalyst for EUR/USD movements, offering valuable insights into American economic health and potential monetary policy directions. Forex traders worldwide schedule their activities around this monthly release, understanding its proven capacity to generate immediate market volatility. By analyzing both headline numbers and component data within broader economic contexts, market participants can make informed decisions about EUR/USD positions. As global economic interdependence grows, the manufacturing sector’s signals will continue influencing currency valuations through complex but predictable transmission mechanisms. FAQs Q1: What time exactly does the ISM Manufacturing PMI release? The Institute for Supply Management consistently releases Manufacturing PMI data at 10:00 AM Eastern Time on the first business day of each month. Q2: Why does manufacturing data affect currency values? Manufacturing data indicates economic strength, influencing central bank policies, investor capital flows, and relative economic performance between currency regions – all factors that determine exchange rates. Q3: How quickly do markets react to PMI releases? EUR/USD typically reacts within seconds of PMI data publication, with most price adjustment occurring within the first 2-5 minutes as algorithmic trading systems process the information. Q4: What PMI level indicates economic expansion? Any PMI reading above 50 indicates manufacturing expansion, while readings below 50 signal contraction. The distance from 50 indicates the strength of expansion or contraction. Q5: Do other currency pairs react to US manufacturing data? Yes, all dollar-based currency pairs typically react to US PMI data, though EUR/USD shows particularly strong reactions due to the euro’s status as the primary dollar alternative in global reserves. This post US ISM Manufacturing PMI Data: The Critical Catalyst That Could Shake EUR/USD Markets first appeared on BitcoinWorld .
Your day-ahead look for March 2, 2026
South Korea faces criticism after state-held cryptocurrencies went missing and exchange errors surfaced. Authorities have initiated a comprehensive audit of public sector crypto management practices. Continue Reading: South Korea Launches Urgent Audit After High-Profile Crypto Losses Shake Public Trust The post South Korea Launches Urgent Audit After High-Profile Crypto Losses Shake Public Trust appeared first on COINTURK NEWS .
BitcoinWorld Canadian Dollar Sell: Bank of America’s Critical Warning on Oil and Equity Divergence NEW YORK, March 2025 – A stark divergence between climbing oil prices and falling equity markets is flashing a critical signal for currency traders. Consequently, analysts at Bank of America Global Research have issued a targeted recommendation: sell the Canadian dollar. This call hinges on the complex, often misunderstood relationship between Canada’s primary export and global risk sentiment, a dynamic currently under severe stress. Decoding Bank of America’s Canadian Dollar Sell Thesis Bank of America’s currency strategists base their sell recommendation on a historical correlation that is breaking down. Typically, the Canadian dollar (CAD), a major commodity currency, strengthens alongside rising crude oil prices. Canada ranks as the world’s fourth-largest oil producer. Therefore, higher Brent and WTI benchmarks traditionally translate to improved trade terms and currency inflows. However, the current environment presents a contradictory scenario. Global equity markets are trending lower amid persistent inflation concerns and tighter monetary policy. This decline in risk assets creates a powerful headwind for cyclical, growth-linked currencies like the CAD. Essentially, the positive impulse from oil is being overwhelmed by the negative impulse from weak equities. Bank of America’s models suggest this imbalance creates a specific vulnerability. The bank’s report references comparative data from previous economic cycles, including the 2015-2016 commodity slump and the 2020 pandemic shock. In both instances, CAD weakness accelerated when commodity support faded amid broad market stress. The current setup mirrors these precursors, albeit with oil providing a false sense of security. The Precarious Link Between Oil Prices and Equities Understanding this trade requires examining why oil and equities are moving in opposite directions. Firstly, oil’s recent strength stems largely from geopolitical supply constraints and disciplined OPEC+ production quotas, not robust global demand. Secondly, equity markets are reacting to central bank policies. The Federal Reserve and Bank of Canada have signaled a “higher for longer” interest rate stance to combat sticky core inflation. Higher rates increase corporate borrowing costs and dampen future earnings projections, pressuring stock valuations. This creates a fundamental divergence. Oil is being pushed up by supply-side factors, while equities are being pulled down by demand-side concerns. For a currency like the Canadian dollar, this is a toxic mix. The table below illustrates the conflicting signals: Market Factor Current Trend Typical CAD Impact 2025 Context Crude Oil Prices Higher Positive / Strengthening Driven by supply, not demand Global Equity Indices (S&P 500, TSX) Lower Negative / Weakening Driven by rates and growth fears Risk Sentiment (VIX Index) Elevated Negative / Weakening Safe-haven flows dominate Ultimately, when risk-off sentiment dominates, capital flees commodity-linked assets. Investors seek safety in the US dollar, Swiss franc, or Japanese yen. This dynamic directly undermines the Canadian dollar, regardless of oil’s nominal price. The Expert Analysis from Bank of America’s Desk Bank of America’s foreign exchange strategy team, led by seasoned analysts with decades of combined market experience, emphasizes the quantitative nature of this call. Their research incorporates: Correlation Analysis: Real-time tracking of the 60-day correlation coefficient between CAD/USD and the S&P 500, which has strengthened relative to its correlation with oil. Flow Data: Evidence from futures markets and ETF flows showing institutional investors reducing exposure to Canadian assets. Macroeconomic Models: Projections showing Canada’s economic growth lagging behind the US in 2025, limiting the Bank of Canada’s ability to maintain hawkish policy. This data-driven approach moves the thesis beyond simple observation. It provides a framework for why the CAD is likely to underperform its commodity currency peers, like the Australian dollar, in the coming quarters. The Australian economy benefits from a more diversified export basket, including lithium and rare earths crucial for the energy transition. Historical Precedents and Market Impact History offers clear parallels. During the 2008 Global Financial Crisis, oil prices collapsed from over $140 to $40 per barrel. The Canadian dollar plummeted from parity with the USD to near $0.80. Similarly, in 2014-2015, a supply-driven oil price crash saw CAD lose over 20% of its value. The present situation differs because oil prices remain elevated. However, the mechanism is similar: a global growth scare triggers a flight from risk, and currencies tied to cyclical commodities bear the brunt. The potential impacts are multifaceted. A weaker Canadian dollar has immediate effects: For Consumers: Higher costs for imported goods, potentially exacerbating inflation. For Exporters: Increased competitiveness for non-energy exports like manufactured goods. For the Bank of Canada: A complex policy dilemma, balancing inflation from a weak currency against the need to support growth. Furthermore, this trend could influence broader currency market allocations. If a major commodity currency like CAD falters, it may prompt reassessments of similar assets. Investors might scrutinize the Norwegian krone or Mexican peso for similar vulnerabilities. Conclusion Bank of America’s recommendation to sell the Canadian dollar presents a nuanced view of modern forex markets. It underscores that single-factor analysis is insufficient. While oil prices are higher, the overwhelming force of negative equity sentiment and risk-off flows creates a potent sell signal. This analysis, grounded in historical correlation breakdowns and current macroeconomic data, provides a clear framework for understanding CAD vulnerability. For traders and investors, the key takeaway is to monitor the oil-equity divergence as a critical indicator for the Canadian dollar’s path. As global growth concerns persist, the traditional support from commodities may prove unreliable, validating Bank of America’s cautious stance. FAQs Q1: Why is Bank of America recommending a Canadian dollar sell if oil prices are high? Bank of America’s analysis indicates that the positive effect of high oil prices is being outweighed by the negative impact of falling global equity markets and risk-off sentiment. The CAD is more sensitive to broad risk appetite than to oil alone in the current environment. Q2: What is a “commodity currency” like the Canadian dollar? A commodity currency is one from a nation whose economy and export revenues are heavily reliant on raw material exports. The Canadian dollar’s value is historically correlated with the price of commodities like crude oil, natural gas, and lumber. Q3: How does weak global equity sentiment hurt the Canadian dollar? When investors fear economic slowdown, they often sell riskier assets linked to global growth, including stocks and cyclical currencies. Capital flows out of countries like Canada and into perceived safe havens like the US dollar, weakening the CAD. Q4: Could the Bank of Canada’s interest rate policy change this outlook? Potentially. If the Bank of Canada raises interest rates aggressively to fight inflation while other central banks pause, it could attract yield-seeking capital and support the CAD. However, BofA’s view suggests growth concerns will limit the BoC’s hawkishness relative to the Fed. Q5: Are other commodity currencies, like the Australian dollar, at similar risk? They face similar pressures, but their risk profiles differ. Australia’s exports are more diversified into metals critical for electrification. The Australian dollar may exhibit more resilience if industrial metal demand holds up better than general risk sentiment. This post Canadian Dollar Sell: Bank of America’s Critical Warning on Oil and Equity Divergence first appeared on BitcoinWorld .
Magic Eden is winding down its Ethereum, Polygon, and Bitcoin NFT marketplaces to pivot resources toward its Solana operations and growing iGaming platform, Dicey. Update on @MagicEden and @DiceyHQ : It is clear we're entering a new era where finance and entertainment merge. We are now 2 months into @DiceyHQ ’s closed beta and are incredibly bullish on how things have developed (~200 users, >$15M wagered). To give Dicey the focus it… — Jack (@0xLeoInRio) February 27, 2026 The decision, confirmed by CEO Jack Lu, is that the platform will cease support for non-Solana chains by early April 2025, following a broad collapse in cross-chain trading volumes. Key Takeaways: Magic Eden will terminate support for Bitcoin and EVM marketplaces starting March 9, with full wallet shutdowns scheduled for April 1. The pivot follows internal data showing Solana markets account for over 85% of volume while multi-chain maintenance costs remained high. Resources will be reallocated to Dicey, a crypto gambling platform that processed $15 million in wagers during its closed beta. In his post, CEO Jack Lu outlined a phased sunset for EVM and Bitcoin-based Runes and Ordinals markets. Trading support will end on March 9, followed by the Bitcoin API on March 27. The platform’s crypto wallet will switch to an export-only mode in the middle of March before a full shutdown on April 1. Lu stated the company is “doubling down” on Dicey, citing a “massive opportunity” in the intersection of finance and entertainment. The casino platform’s closed beta recently saw 200 users wager over $15 million in just two months. The strategic shift mirrors a broader trend where crypto funds and companies are diversifying revenue streams; for instance, venture firm Paradigm plans to expand into AI and robotics to capture value beyond traditional digital assets. Magic Eden plans to replicate this diversification by launching a sportsbook to compete with blockchain gambling heavyweights like Stake. Discover: The next crypto to explode Falling NFT Volume Forces Strategic Realignment The retreat from multi-chain operations reflects a stark consolidation of NFT liquidity on Solana. Despite raising over $130 million to expand support for Ethereum and Bitcoin Ordinals, market data indicates that Solana assets continued to drive over 85% of the platform’s trading volume in late 2024. While Ethereum retains dominance in stablecoin infrastructure , its NFT sector has suffered prolonged decline, making the maintenance of cross-chain compatibility technically burdensome for decreasing returns. > be Magic Eden > launch in 2021 > capture 90% of sol NFT volume > evolve into a multi-chain NFT platform > raise $160m at $1.6 billion valuation > ordinals protocol launches in 2023 > launch marketplace for Ordinals in March > be early winner of the ecosystem > at peak control… pic.twitter.com/ZR3OcE1hlE — Bando (@bandosei) February 28, 2026 Lu noted that the shift was ultimately driven by the fact that most of the platform’s non-Solana products were not contributing significantly to revenues. The marketplace had briefly ranked No. 1 globally in early 2024 following its Bitcoin expansion, but sustained engagement failed to materialize as the Ordinals and Runes hype cycles cooled. Going forward, the platform will exclusively focus on NFT packs that bundle random assets, attempting to gamify the remaining trading experience. Will Magic Eden Exit Cause Token Volatility and Liquidity Concerns? The announcement precipitated severe volatility for the ME token, which reportedly fell nearly 2.5% in the last 24 hours, although this was broadly in line with Ethereum’s losses over the period. The exit also leaves a significant vacuum in the Bitcoin Ordinals market, which may strengthen competitors like OKX and UniSat that remain committed to the Bitcoin ecosystem. Magic Eden’s long-term valuation now hinges on its ability to convert NFT traders into active gamblers on Dicey. The platform’s user retention metrics after April 1 will be most insightful; if the pivot fails to capture the high volume gambling cohort, the total loss of the multichain user base could isolate the protocol from future liquidity cycles on Bitcoin and Ethereum. Discover: The best Solana meme coins The post Magic Eden Winds Down EVM and Bitcoin NFT Markets in Strategic Pivot appeared first on Cryptonews .
According to Chainalysis, most crypto exchanges in the country are now offline, with no clear indication of what might have disrupted operations.