A resurgence in institutional demand and spot ETF inflow return could put Ethereum price in a better position to overcome the next hurdle at $2,200. Ether’s (ETH) 9% rally on Monday stalled at $2,200 due to stiff overhead resistance and weak ETF demand. Still, technical and onchain setups suggested that upward momentum may increase as long as ETH stays above the $2,000 mark. Key takeaways: Ether bulls must flip the $2,200 level into new support. Read more
Fira debuted its fixed-rate DeFi lending protocol with $450 million in pre-launch deposits, seeking to make long-term decentralized lending rates more predictable. Ethereum-based decentralized finance (DeFi) lending protocol Fira said on Tuesday it was launching with about $450 million in deposits, highlighting demand for fixed-rate onchain credit. Fira said the protocol’s fixed-rate credit market allows users to lock borrowing costs and lending returns for defined periods by organizing lending around maturities rather than floating utilization-based rates, according to an announcement shared with Cointelegraph. The fixed-rate model differs from most DeFi lending protocols, where borrowers cannot lock funding costs, and lenders cannot predict returns, making long-term DeFi lending less predictable. Fira’s said its model organizes markets by maturity and determines interest rates by supply and demand mechanics, replacing utilization algorithms that fluctuate with borrowing activity. Read more
Resolv’s USR dollar stablecoin is trading at just $0.24 after an attacker minted 80 million unbacked tokens, forcing a full protocol pause and reopening fears over stablecoin risk. Resolv Labs has temporarily paused its protocol after an exploit on Sunday in which an attacker minted 80 million unbacked tokens, knocking the dollar stablecoin sharply off its peg and briefly plunging the token to $0.14. The Resolv Foundation team announced on X on Monday evening that all protocol functions, including the app, were temporarily halted “to contain the impact of the exploit,” freezing Season 4 airdrop claims as well as staking and unstaking of RESOLV tokens. Resolv previously said the collateral pool remained intact with no loss of underlying assets, despite onchain analysis showing that the attacker had successfully converted most of the minted USR into Ether (ETH) and sold around $25 million. USR is currently trading near $0.24, far below its intended dollar peg. Read more
Kalshi is facing off with state regulators around the US, who claim that prediction markets are a form of gambling and recognize that they are a significant source of potential revenue. Momentum is building across US states to regulate or restrict prediction markets, with multiple legal actions targeting platforms such as Kalshi. On March 20, Carson City District Court Judge Jason Woodbury in Nevada made his state the first to issue a temporary ban on prediction market Kalshi from operating. Gaming officials said that the platform violated state gambling laws. Nearly a dozen other states have also issued various forms of legal proceedings. Most have filed cease-and-desist letters, while Arizona has even brought criminal charges against Kalshi. Other states are considering new legislation for prediction markets. Read more
Securitize will become NYSE’s first digital transfer agent to mint blockchain-based shares of stocks and develop standards for compliant tokenized stock issuance. The New York Stock Exchange (NYSE) has signed a memorandum of understanding (MoU) with tokenization platform Securitize, as part of a broader effort to develop blockchain-based stock trading infrastructure for Wall Street. Securitize will become the first digital transfer agent, enabling it to mint blockchain-based shares for stocks and exchange-traded funds (ETFs) on the upcoming tokenized securities platform, the Digital Trading Platform, according to a Tuesday announcement from Intercontinental Exchange (ICE), parent company of the NYSE. Under the MoU, the companies plan to develop a digital transfer agent program and standards for digital transfer agents and tokenization agents, with a focus on regulatory, operational and technology requirements for tokenized securities infrastructure. Read more
Solana is aiming to attract enterprises and financial institutions to its ecosystem through a new unified developer platform, which is focused on tokenization and stablecoins. The Solana Foundation has revealed it has secured Mastercard, Worldpay, and Western Union as early users of its newly launched developer platform, as part of ongoing efforts to attract enterprises to build on its blockchain. The Solana Developer Platform (SDP) was announced on Tuesday to enable enterprise developers to build on the blockchain using a unified interface. Much of the focus is on real-world asset tokenization, including stablecoins, which is currently a $328 billion market, according to rwa.xyz. More than half of the total value is held on Ethereum; however, with Solana holding 6.3% share of the tokenized real-world asset market. Read more