Daily Market Report (March 24, 2025, 09:30 AM)

ChainDD's market report on March 24 shows that the comprehensive DD index and CoinMarketCap quotes:

BTC is priced at $86,394.86, up approximately 2.86% in 24 hours;

ETH is priced at $2,009.77, up approximately 1.31% in 24 hours;

BNB is priced at $625.74, down approximately 0.00% in 24 hours;

DOGE is priced at $0.1733, up approximately 3.43% in 24 hours;

SOL is priced at $133.90, up approximately 4.08% in 24 hours.

Crypto Circle Dynamics

Coinbase may acquire Deribit for billions of dollars.

Coinbase is in advanced negotiations with the world's leading cryptocurrency derivatives exchange Deribit and has informed Dubai regulators. Deribit's valuation earlier this year was between $4 billion and $5 billion.

If the acquisition is completed, Coinbase will make a significant entry into the lucrative cryptocurrency derivatives market. In 2024, Deribit's trading volume approached $1.2 trillion, nearly double that of the previous year. Earlier this week, Kraken also acquired Ninja Trader for $1.5 billion to strengthen its derivatives business.

Fidelity plans to launch a tokenized treasury fund 'OnChain' on Ethereum.

Fidelity Investments has applied to the U.S. securities regulators to register its Ethereum-based U.S. Treasury fund 'OnChain', planned for launch on May 30, to track its $80 million Fidelity Treasury Digital Fund (FYHXX) trading. Although OnChain's records on the blockchain do not serve as an official ownership ledger, Fidelity will verify it daily.

Currently, the blockchain treasury market is valued at $4.78 billion, with BlackRock's BUIDL fund leading at $1.46 billion. Fidelity stated that OnChain may be expanded to other blockchains in the future.

Cathie Wood will launch El Salvador's public education program on artificial intelligence.

Ark Invest founder Cathie Wood will deliver the opening speech for El Salvador's newly launched 'City Welfare and Opportunity Center' (CUBO) artificial intelligence (AI) program. This program is a public education initiative led by the government of El Salvador. According to the Salvador Bitcoin Office, this program will provide university-level AI courses for students and professionals, following the tremendous success of the country's CUBO Bitcoin and Lightning Network developer program. The initiative will utilize industry experts to provide AI education to the public.

The Salvador Bitcoin Office wrote in a post on X (Twitter) on March 23: "As El Salvador accelerates its transformation into the region's ultimate technology and financial powerhouse, CUBO AI will provide tools at the forefront of AI for the country's students and professionals." El Salvador continues to attract cryptocurrency companies and foreign direct investment as this Central American country positions itself as a regional technology and digital finance hub.

BlackRock's BUIDL fund has deployed over $1 billion in funding on the Ethereum chain.

Token Terminal data shows that BlackRock's BUIDL fund has deployed over $1 billion on the Ethereum chain, currently reaching approximately $1.145 billion. The BUIDL fund focuses on tokenized real-world assets (RWA) and diversifies its investments across chains such as Avalanche, Polygon, Aptos, Arbitrum, and Optimism, but Ethereum remains its core allocation.

According to Nansen analysis, since March 12, 2024, the number of addresses holding 1,000-10,000 ETH has increased by 5.65%, while the number of addresses holding 10,000-100,000 ETH has increased by 28.73%.