KEYTAKEAWAYS
- Institutional capital movements show divergent paths with Bitcoin ETFs gaining $744 million while Ethereum ETFs lost $103 million, highlighting Bitcoin's strengthening position among institutional investors.
- Exchange competition intensifies as PancakeSwap overtakes Uniswap in weekly trading volume with $14.9 billion versus $8.3 billion, while Coinbase pursues a $4-5 billion acquisition of derivatives platform Deribit.
- Token economics evolve with dYdX launching its first buyback program using 25% of protocol fees, as meme tokens compete for Binance listings and Ethereum experiences its worst quarterly start in history.
CONTENT
Welcome to the CoinRank Crypto News Roundup. CoinRank will provide daily important crypto news in this column series, allowing readers to quickly obtain the latest crucial updates from the cryptocurrency market.
MORNING NEWS
1. Binance Listing Vote Shows BANANAS31, SIREN, and BROCCOLI in Lead
As of March 24, the top three tokens in the Binance listing vote are $BANANAS31, $SIREN, and $BROCCOLI (CZ’s Dog).
Voting ends on March 26, 16:59 (UTC).
Market movements show $BANANAS31 up 4% with a $55M market cap, $SIREN up 3% with a $50M market cap, and $BROCCOLI (CZ’s Dog) up 17% with a $58M market cap.
2. Circle Mints Additional $250 Million USDC on Solana
According to Cointelegraph, Circle has minted an additional $250 million in USDC on the Solana blockchain, bringing the total USDC minted on Solana to $10.75 billion as of 2025.
This development highlights the growing adoption and integration of USDC within the Solana ecosystem, reflecting the increasing demand for stablecoins in decentralized finance applications.
3. BlackRock’s BUIDL Fund Sets New ETH Holdings Record
According to Cointelegraph, Token Terminal data showed that the total value of BlackRock’s BUIDL fund currently held in Ethereum has reached approximately $1.145 billion, setting a new high.
4. Coinbase in Advanced Talks to Acquire Deribit for $4-5 Billion
Coinbase Global Inc. is in advanced discussions to acquire Deribit, the world’s largest trading platform for Bitcoin and Ether options. This potential acquisition, valued between $4 billion and $5 billion, represents a significant move by Coinbase to expand its presence in the derivatives market.
Deribit, licensed in Dubai, has processed nearly $1.2 trillion in volume last year, indicating high demand for advanced trading products. Founded in 2016 by John Jansen and Marius Jansen, Deribit initially operated in the Netherlands before relocating.
This acquisition would mark Coinbase’s most aggressive push yet into derivatives, intensifying its rivalry with competitors such as Robinhood (which acquired Bitstamp for $200 million last June) and Kraken (which acquired NinjaTrader in a $1.5 billion deal).
The move could give Coinbase a significant competitive advantage in the global market while potentially helping it enter the Middle East market, as Dubai has emerged as an innovation hub for crypto.
5. Litecoin Foundation Reports Strong Q1 2025 Performance
The Litecoin Foundation published an article on the X platform disclosing its operations so far in 2025, highlighting that the hash rate reached a historical high of 2.7 PH/s, transaction volume exceeded 15 million, and multiple Litecoin ETFs are approaching launch.
NOON NEWS
1. PancakeSwap Overtakes Uniswap in Weekly Trading Volume
PancakeSwap has surpassed Uniswap in weekly trading volume, recording $14.894 billion compared to Uniswap’s $8.291 billion according to DeFiLlama data.
PancakeSwap traded $1.41 billion in the last 24 hours, significantly higher than Uniswap’s $674.38 million. The platform saw a growth of 60.72% this week, while Uniswap experienced a decline of 43.93%.
Several factors have contributed to PancakeSwap’s growth, including its integration with BNB Smart Chain (which offers lower fees compared to Ethereum), innovative features like yield farming programs, and more advantageous staking mechanisms.
The competition between these platforms reflects the continuous innovation in the cryptocurrency market, with both exchanges likely to introduce new strategies to attract more traders and investors.
2. Ethereum Posts Worst Quarterly Start in History
According to Coinglass data, Ethereum experienced its worst start in recent years in the first quarter of 2025, with negative returns for three consecutive months:
January: -1.28% (historical average return: +20.63%, median: +31.92%) February: -31.95% (historical average return: +11.68%, median: +8.78%) March: -10.16% (historical average return: +19.55%, median: +9.96%)
This is the first quarter since Ethereum has complete data records in 2017 where it has seen three consecutive months of negative returns.
In comparison, previous first quarters showed more positive performance: 2024 (two increases, one decrease), 2023 (all positive returns), 2022 (two increases, one decrease), and 2021 (all positive returns).
3. US Authorities Return $7 Million to Crypto Scam Victims
US authorities are taking significant steps to fight cryptocurrency fraud by returning $7 million to victims of a crypto investment scam involving spoofed investment websites that tricked investors into depositing money with promises of high returns.
The scammers operated by building fake cryptocurrency platforms similar to legitimate ones, manipulating victims into sending additional money for supposed tax payments on non-existent profits. The funds were then laundered through multiple bank accounts under shell companies before being transferred abroad.
The US Secret Service seized some of the stolen funds in 2023 and initiated a civil forfeiture action to reclaim them. Following a legal settlement, victims can now recover a portion of their lost money.
This recovery effort comes as crypto-related scams continue to evolve, with cybersecurity professionals warning about emerging threats such as crypto-stealing malware hidden in pirated software and trojans targeting cryptocurrency wallet extensions.
4. GMGN Co-founder Compensates Users After Trading Service Issues
GMGN co-founder Haze responded on social media to community discussions about one address distributing 0.1 BNB to over a hundred addresses.
Haze explained that this was compensation given to users who interacted with the BSC using Telegram accounts during an unstable trading service two days earlier.
“We apologize for the poor experience, giving everyone 0.1 BNB as a consolation. Additionally, for users who suffered account losses during that period, we have quietly calculated and directly credited GMGN to your accounts,” Haze stated.
5. Ethereum ETFs See $103 Million Outflow as Bitcoin ETFs Gain $744 Million
Last week, Ethereum ETFs experienced a significant net outflow of $103 million, marking a notable shift in investor sentiment. This outflow was predominantly driven by BlackRock’s Ethereum ETF (ETHA), which saw the largest weekly net outflow of $74 million.
In contrast, Bitcoin ETFs continued to attract substantial institutional investment, with a total weekly net inflow of $744 million. BlackRock’s Bitcoin ETF (IBIT) led the inflows with $538 million, highlighting the growing institutional appetite for Bitcoin.
The total asset value of all Ethereum spot ETFs stands at $6.77 billion, accounting for 2.84% of Ethereum’s total market capitalization, while Bitcoin ETFs managed assets worth $94.35 billion, representing about 5.65% of Bitcoin’s total market cap.
This divergence suggests institutional investors are increasingly favoring Bitcoin over Ethereum, possibly due to Bitcoin’s narrative of scarcity and its status as digital gold, while Ethereum faces skepticism due to its transition to Proof-of-Stake and concerns about centralization.
EVENING NEWS
1. Bitcoin Transaction Fees Nearly Double in One Week
Crypto analyst @ali_charts released a chart analysis stating, “Bitcoin network transaction fees have nearly doubled in the past week, indicating a surge in network transaction activity.”
2. dYdX Launches First DYDX Token Buyback Program
The dYdX Community is launching the first-ever $DYDX Buyback Program, reinforcing long-term confidence in the token and strengthening its role in the ecosystem.
Starting immediately, 25% of net protocol fees will be allocated to monthly buybacks, systematically acquiring $DYDX from the open market and staking it to enhance network security.
With the Buyback Program now in effect, net protocol revenue is allocated as follows: 10% to Treasury SubDAO for financial sustainability initiatives, 25% to MegaVault, 25% to the Buyback Program, and 40% to Staking Rewards.
The launch comes at a pivotal moment for dYdX, which is undergoing major developments including Spot Trading, Multi-Asset Margining, and EVM Support. In 2024 alone, the protocol generated $270 billion in trading volume and $46 million in net protocol fees across 150 markets, bringing cumulative trading volume past $1.46 trillion since 2021.
3. Ethereum ETFs See Outflows for 13 Consecutive Trading Days
Funds have been flowing out of the Ethereum spot exchange-traded funds in the United States for 13 consecutive trading days.
According to data from TraderT on March 21st, a total of $18.49 million was net outflowed from the Ethereum spot ETFs listed in the United States on that day. This fund outflow has been continuing since March 6th with no signs of reversal.
BlackRock’s ETHA recorded the largest outflow on this day with $11.8 million withdrawn, while Grayscale’s ETH saw an outflow of $6.69 million. No net inflows or outflows occurred in other ETF products.
Meanwhile, Ethereum was trading at $1,985, up 0.5% from the previous day, in the Tether (USDT) market on Binance.
4. Tether Freezes Over 600,000 USDT Across Four TRON Addresses
According to MistTrack monitoring, Tether has just frozen a total of 601,798.37 USDT across four TRON addresses.
15. Binance Alpha Launches BUBB and AGON Tokens
According to the official page, Binance Alpha has launched BUBB and AGON tokens on its platform.
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