KEYTAKEAWAYS
- Russia Uses Cryptocurrency in Oil Trade with India
- Bitcoin Volatility Remains at Its Highest Level Since September 2024
- Meme Coin Market Shows No Signs of Recovery
CONTENT
RUSSIA USES CRYPTOCURRENCY IN OIL TRADE WITH INDIA
On March 14, four sources revealed that Russia is using cryptocurrency in oil trade with India to bypass Western sanctions. Although Russia has publicly supported cryptocurrency usage and passed a law last summer allowing digital currencies in international trade, there were no reports of crypto being used specifically for oil transactions before.
Sources say some Russian oil companies are using Bitcoin, Ethereum, and stablecoins like Tether to facilitate the conversion between Indian Rupees and Russian Rubles.
ANALYSIS:
Russia’s use of cryptocurrency to avoid sanctions may lead to stricter international regulations. At the same time, it highlights crypto’s unique advantages in cross-border payments.
BITCOIN VOLATILITY REMAINS AT ITS HIGHEST LEVEL SINCE SEPTEMBER 2024
On March 14, data from Coinglass showed that Bitcoin’s volatility remains high, reaching 3.41%, the highest since September 2024, and currently at 3.37%.
ANALYSIS:
Volatility measures how much an asset’s price moves, reflecting market uncertainty and risk. Higher volatility means stronger price swings and increased short-term risk. If volatility continues to rise, Bitcoin may enter a trending phase. Key levels to watch in the short term are $80,000 and $84,000.
MEME COIN MARKET SHOWS NO SIGNS OF RECOVERY
A report from Matrixport stated that despite a weaker U.S. dollar and improving global liquidity, the meme coin market remains sluggish with no signs of recovery.
According to the report, the altcoin market peaked in December 2024 before starting to decline. The meme coin bubble burst in January 2025, causing the total crypto market cap to fall from $3.6 trillion to $2.6 trillion.
Although Pump.fun, a meme coin platform based on Solana, generated over $582 million in revenue in the past 12 months, its revenue growth has slowed significantly. The report also noted that hedge funds closing arbitrage positions are a major factor behind recent Bitcoin sell-offs, and this selling pressure may be reaching its peak.
ANALYSIS:
The meme coin market remains weak, and speculative interest is fading. In the short term, meme coins are unlikely to see major rallies, while capital continues to favor leading cryptocurrencies.
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