Speaker 1: Hey, it's Alex with the Token Metrics daily Pulse from
Speaker 1: March twenty first, twenty twenty six. Got a lot to
Speaker 1: cover today, including some pretty big moves in traditional finance
Speaker 1: that are bleeding into crypto. But first, a quick word
Speaker 1: from our sponsor. Okay, so here's what's happening. So the
Speaker 1: big headline yesterday NASDAK got SEC approval to launch tokenized
Speaker 1: stock trading. This is huge. It's basically traditional finance infrastructure
Speaker 1: saying okay, we're building on blockchain. Now. It's not a
Speaker 1: direct crypto play, but it's a massive signal that tokenization
Speaker 1: is the future. Meanwhile, Bitcoin actually dipped a bit like
Speaker 1: three point sixty seven percent yesterday. The market reaction seems
Speaker 1: tied to the FED holding rates steady and a general
Speaker 1: move towards risk off. But honestly, that dip might be
Speaker 1: masking the bigger structural story here. Okay, so looking at
Speaker 1: the broader market today, things are actually pretty quietcoin Point
Speaker 1: is hovering around seventy thousand, up just half a percent.
Speaker 1: Ethereum's also up around seventy thousand, up about point eight percent.
Speaker 1: The total market cap is sitting at about two point
Speaker 1: five trillion bitcoin dominance is holding steady around fifty six
Speaker 1: point five percent. Now here's an interesting one. The fear
Speaker 1: and greed index is at seventy five, which is firmly
Speaker 1: in greed territory. That's usually a sign that things might
Speaker 1: be getting a little overheated. Open interest is up about
Speaker 1: three point four percent to forty five point two billion,
Speaker 1: and the average funding rate is positive around point zero
Speaker 1: one two percent. So the market's showing some signs of
Speaker 1: leverage building back up. All right, So what's actually moving
Speaker 1: the needle? First up, Still on that regulatory front, lawmakers
Speaker 1: have reached an agreement in principle on how to treat
Speaker 1: stable coin yields in a new crypto bill. This is
Speaker 1: a massive step towards clarity for stable coins. If they
Speaker 1: get this right, it could really boost innovation. Deep an
Speaker 1: eye on that one. Then, in a move that shows
Speaker 1: institutions are looking beyond just Bitcoin, Gray Scale has filed
Speaker 1: for a new ETF, this time focused on hyper liquid,
Speaker 1: which is an on chain derivative's decentralized exchange. They're looking
Speaker 1: at perpetual futures on chain. Again, this is sophisticated stuff
Speaker 1: that institutions are starting to explore. It's a sign that
Speaker 1: they're getting comfortable with more complex DeFi products. On the
Speaker 1: mining front, Bitcoin's mining difficulty just dropped a pretty sharp
Speaker 1: seven point seven percent. That's a big drop, indicating that
Speaker 1: some of the less efficient miners are probably getting squeezed out.
Speaker 1: This could mean more selling pressure in the short term,
Speaker 1: but long term it might lead to a more consolidated
Speaker 1: mining sector. And finally, Nevada has become the first state
Speaker 1: to temporarily ban the prediction market CALSHI. This is a
Speaker 1: big deal for prediction markets and raises questions about their
Speaker 1: future across the US. It's another example of the regulatory
Speaker 1: tug of war we're seeing. All right, before we get
Speaker 1: into the risks, quick word from our sponsor. Okay, we're back.
Speaker 1: Let's talk about what to watch for. So what should
Speaker 1: you be watching out for. Well, that greed reading on
Speaker 1: the Fear and Greed Index at seventy five. Historically that's
Speaker 1: often been a precursor to a pullback, especially with macroheadwinds
Speaker 1: still out there. Also, that's seven point seven percent drop
Speaker 1: in bitcoin mining difficulty. That tells US miners are under
Speaker 1: pressure and it could mean more selling of bitcoin if
Speaker 1: they need to cover costs. And finally Nevada Bannon Calshi.
Speaker 1: That's creating regulatory uncertainty. If more states follow suit, it
Speaker 1: could really impact prediction markets nationwide. Looking ahead, the main
Speaker 1: thing on my radar for the next week is the
Speaker 1: macro calendar and any policy messaging that could really reset
Speaker 1: risk sentiment across the board. If you got something out
Speaker 1: of this, send it to a friend who's into crypto.
Speaker 1: That's the best way to supporward us. This is educational content,
Speaker 1: not investment advice. Always do your own research. I'm Alex,
Speaker 1: See you next time.