JH Kim

Uniswap (UNI) founder Hayden Adams announced on X (formerly Twitter) on the 26th (local time) that "Uniswap Labs has won the appeal in the class action lawsuit filed over allegations of unregistered securities sales." He explained, "The Second Circuit Court of Appeals ruled that it is not logically sound to claim that developers who wrote smart contracts should be held liable under the Exchange Act for third-party users' misuse of the platform." Previously, in August 2023, the Southern District Court of New York had dismissed the class action lawsuit filed by users against Uniswap Labs for alleged unregistered securities sales. When filing the lawsuit against Uniswap Labs in April 2022, the plaintiffs claimed that "Uniswap Labs was not registered with the SEC as a broker-dealer, and failed to disclose to users that some coins listed on the platform had characteristics of securities," arguing that "this violated U.S. securities laws and could put investors at risk." They further pointed out that "Uniswap took no measures to address this, and fraud remains rampant on the platform."

According to The Block, a cryptocurrency media outlet, on the 26th (local time), Solana (SOL)-based cryptocurrency wallet Phantom announced the acquisition of SimpleHash, a token and non-fungible token (NFT) data platform. The specific acquisition amount was not disclosed. Through this acquisition, Phantom plans to integrate SimpleHash technology into its platform to provide users with more accurate and comprehensive token and NFT data.

On-chain digital asset custody protocol SAFE announced the results of its post-investigation into the Bybit hack through X (formerly Twitter) on the 26th (local time). In an official statement, SAFE said, "Forensic analysis revealed that this hack occurred due to a compromise of a Safe Wallet developer's device, and Bybit's SAFE was attacked through disguised malicious transactions," adding that "The Lazarus Group, a North Korean hacker group known to be behind the hack, is well-known for using sophisticated attacks and zero-day exploits." They further emphasized, "No vulnerabilities were found in SAFE smart contracts, frontend, or service source code," and stated that "After this hacking incident, the Safe Wallet team completely reconstructed the infrastructure and blocked all attack vectors. We are currently proceeding with phased service recovery on the Ethereum mainnet."

Ben Zhou, CEO of Bybit, announced on X (formerly Twitter) on the 26th (local time), "Forensic investigation of the hosts (computers) used by Bybit signers revealed that the root cause of this hack was malicious code originating from the SAFE wallet infrastructure." He added, "No traces of breach were found within Bybit's infrastructure. Investigation is ongoing to further verify these findings."

Julio Moreno, Chief Analyst at CryptoQuant, stated via X (formerly Twitter) on the 26th (local time) that "it's too early to conclude that Bitcoin (BTC) price has reached its bottom" and that "all valuation indicators have entered a correction phase." He added, "It may take more time for BTC to form a bottom," and analyzed that "for instance, the Market Value to Realized Value (MVRV) indicator remains below its 365-day moving average. This shows a simple but powerful bearish signal." Meanwhile, BTC is trading at $88,121.81 on the Binance USDT market as of 00:38 on the 27th, up 1.23% from the previous day.

According to crypto media BeInCrypto on the 26th (local time), John Glover, Chief Investment Officer (CIO) of crypto lending platform Ledn, predicted that "Bitcoin (BTC) will fluctuate between $89,000 and $108,000 throughout March." He explained, "From a technical perspective, BTC is following two paths. One involves declining to $89,000 or $77,000 before starting a rally," adding that "the other possibility is that it has already confirmed its bottom and could rise to $130,000." Further, he analyzed that "short-term predictions don't hold much significance as they are largely influenced by major players like Strategy and news," and personally stated, "I believe BTC will remain in the $89,000-$108,000 range in March." He also added, "The so-called 'Trump effect' has already been priced into the market," and "while Donald Trump supports cryptocurrencies and is pushing for related regulations, I don't consider it a major variable in the short term."

Bitcoin (BTC) has temporarily recovered to the $88,000 level. Meanwhile, as of 00:15 on the 27th, BTC is trading at $88,332 on the Binance Tether (USDT) market, up 1.52% from the previous day.

According to cryptocurrency media CoinTelegraph on the 25th (local time), Bitcoin (BTC)'s Relative Strength Index (RSI) has fallen below 27. The media explained, "This is a level not seen since BTC's price crash on August 5th last year (local time)," adding that "At that time, BTC fell to $49,000. Historically, it's very rare for RSI to show such an oversold condition, which can be seen as an opportunity to buy at the bottom." Andre Dragosh, Head of Research at Bitwise Europe, commented on this, saying "What investors need now is patience," and analyzed that "Looking at Bitcoin's price movements after previous halving events, the bull market in this cycle is not over yet." Crypto analyst Tuur Demeester emphasized that "We shouldn't be swayed by Bitcoin's price movements," noting that "Institutional investors are actively moving, as evidenced by the steady increase in BTC holdings among listed companies." Meanwhile, BTC is trading at $88,409.55 on the Binance USDT market as of 06:02 on the 26th, down 5.93% from the previous day.

Alex Thorn, Head of Research at Galaxy Digital, analyzed on X (formerly Twitter) on the 25th (local time) that "Bitcoin (BTC) URPD indicator shows almost no transactions between $75,000 and $85,000" and added that "as BTC price quickly broke through this range last November, the market might test this zone." He continued, "The 200-day moving average (MA) is at $81,600, and if this level is retested, it could potentially support the price." URPD is an indicator that shows the volume of UTXO (Unspent Transaction Output) consumed at specific price levels. Meanwhile, BTC is trading at $87,132.08 on the Binance USDT market as of 02:23, down 8.20% from the previous day.

According to The Block, a cryptocurrency-focused media outlet, on the 25th (local time), Bernstein, a Wall Street-based research and brokerage firm, projected that Bitcoin (BTC) price would reach $200,000 within the next 12 months. In a memo sent to The Block, Bernstein analyzed that "BTC has not yet reached its cycle peak and is expected to approach $200,000 within the next 12 months." They further explained that "if investment sentiment continues to deteriorate and BTC falls to $80,000, it would present an attractive entry opportunity." Meanwhile, as of 02:23 on the 26th, BTC is trading at $87,132.08 on the Binance Tether (USDT) market, down 8.20% compared to the previous day.

According to CoinDesk, a cryptocurrency-focused media outlet, on the 25th (local time), Matt Cole, CEO of U.S. asset management firm Strive, sent a letter to GameStop (GME) CEO Ryan Cohen urging the adoption of Bitcoin (BTC) as a reserve asset. In the letter, Cole stated that "while holding cash results in negative real returns, Bitcoin can serve as a prominent hedge against inflation." He further emphasized that "GameStop should focus on Bitcoin and avoid investing in other cryptocurrencies." Meanwhile, this proposal is being interpreted as a strategy to strengthen GameStop's financial stability and enhance its long-term value.

According to CoinDesk, a cryptocurrency-focused media outlet, on the 25th (local time), Bitdeer, a Bitcoin (BTC) cloud mining company, reported a net loss of $531 million in the fourth quarter of last year. This figure shows a significant increase compared to the same period of the previous year ($5 million), clearly demonstrating poor performance. Moreover, revenue also declined by 40% to $69 million compared to the same period last year. Regarding this, the media analyzed that "the decline in performance across the company's main business areas, including self-mining, hosting, and cloud hashrate services, was the main cause." Bitdeer is reportedly seeking ways to continuously improve profitability and reduce costs.

Glassnode, an on-chain analytics firm for digital assets (cryptocurrency), reported through their official X (formerly Twitter) account on the 25th (local time) that "Bitcoin (BTC) short-term holders' daily realized losses surged to $23.4 million on the 24th (local time)," adding that "the previous peak was $38 million (February 3rd)." Meanwhile, as of 00:58 on the 26th, BTC is trading at $87,454.01 on the Binance USDT market, down 7.10% compared to the previous day.

According to cryptocurrency media CoinTelegraph on the 25th (local time), multiple analysts predict that altcoin Exchange-Traded Funds (ETFs) expected to launch this year may not receive as much investor interest as anticipated. Katalin Tischhauser, Research Director at Signum Research, stated that "cumulative inflows into altcoin ETFs will likely remain under $1 billion," adding that "this is a very low figure compared to the current $100 billion in Bitcoin (BTC) ETF holdings." Bryan Armour, Head of Strategic Asset Management at Morningstar, shared a similar view. He explained, "For Bitcoin ETFs, some institutional investors and asset advisors were waiting for the launch," noting that "in the case of altcoins, many investors likely already hold the spot assets." Experts particularly forecast that altcoin ETFs will have limitations in attracting institutional investors' interest, predicting that initial investment inflows will be lower compared to BTC ETFs.

Bitcoin (BTC) has temporarily relinquished the $87,000 level. Meanwhile, as of 00:11 on the 26th, BTC is trading at $86,842.72 on the Binance Tether (USDT) market, down 8.24% from the previous day.

Binance co-founder Changpeng Zhao reposted on X (formerly Twitter) on the 24th (local time) about joining AI startup VANA as an advisor, stating "We need to support builders" and adding that "cryptocurrency is the currency of AI, and data is AI's food." He further added, "Web2 companies should not monopolize data" and emphasized that "users should be the owners of their data."

Bitcoin (BTC) has temporarily given up the $94,000 level. Meanwhile, as of 04:43 on the 25th, BTC is trading at $93,924 on the Binance USDT market, down 1.98% from the previous day.