KEYTAKEAWAYS
- Bitcoin Volatility Rises to 3.20%, Nearing Previous Highs
- Macroeconomic Factors Alone Should Not Dictate Aggressive Crypto Positions
- Solana’s Weekly Revenue Drops 93% as Meme Coin Hype Fades
CONTENT
BITCOIN VOLATILITY HAS RISEN TO 3.20%
On March 11, data from Coinglass showed Bitcoin’s volatility rose to 3.20%, nearing a local high last seen in November of last year.
Analysis:
Increased volatility often signals rapid inflows and outflows of leveraged funds, intensifying short-term market fluctuations. However, volatility alone is insufficient to determine whether the market has reached a bottom.
AGGRESSIVE POSITIONS SHOULD NOT BE BASED ON MACROECONOMIC FACTORS ALONE
On March 11, Jason Choi, co-founder of crypto investment club Tangent, commented:
“Without specific catalysts (such as expectations regarding ETFs or Trump-related policies), the price movements of major cryptocurrencies—particularly Bitcoin—will largely correlate with the performance of U.S. equities. As someone primarily focused on cryptocurrency speculation, my fundamental view is that aggressive positions shouldn’t be driven purely by macroeconomic factors, although macroeconomic insights should inform existing aggressive positions.”
Analysis:
Bitcoin’s short-term movements remain influenced by U.S. equities, as the market lacks independent catalysts and continues to exhibit high correlation with traditional markets.
SOLANA’S WEEKLY REVENUE PLUMMETS 93% FROM JANUARY HIGH
On March 11, Solana’s weekly revenue dropped to $4 million, a 93% decline from January’s peak of $55 million during the meme coin frenzy. Over the past two months, as market interest in meme coins subsided, Solana’s network revenue and total value locked (TVL) significantly decreased.
Analysis:
Solana experienced a 93% revenue decline over two months due to fading interest in meme coin trading, which negatively impacted on-chain activity and TVL. Relying on meme coin-related transaction fees is not sustainable in the short term. Solana must develop more stable growth drivers such as DeFi, NFTs, and payment solutions.
The key question is whether Solana can attract long-term capital. Currently, the market remains in a stage of absorbing the meme coin bubble, and future trends will depend on when on-chain activity stabilizes.
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