24-hour Cryptocurrency Hotspots
In March 2025, 15 publicly listed mining companies faced tight cash flow due to rising electricity costs, equipment prices, and market turmoil, leading to a massive sell-off of newly mined Bitcoin, with sales exceeding 40%, setting a record for the highest monthly miner sell-off since October 2024. Some miners, such as Greenspark, tapped into reserves, while Hive and Bitform sold more coins than they mined. Bitcoin's block transaction fees dropped to 1.1%, hash rates hit a low, and the mining sector entered a 'cash is king' phase. If the downward trend of Bitcoin continues, the selling pressure from miners will impact market liquidity.
The cost of a single Bitcoin transaction fell below $1, and Ethereum transfer fees dropped to $0.168, significantly reducing transaction costs, reflecting a decrease in on-chain user interactions and a notable drop in market activity, with funds concentrating on mainstream coins while altcoins fell out of favor.
OKX was penalized by the U.S. Department of Justice for allowing U.S. users to trade without obtaining a funds transfer license. To resolve the issue, OKX acknowledged that its Seychelles subsidiary violated U.S. anti-money laundering regulations, paying a fine of $795,365,858.40 and returning $420 million to U.S. users, totaling $505.05 million. After the settlement, OKX quickly advanced its strategy in the U.S., establishing a regional headquarters in San Jose, California, launching a centralized exchange aimed at U.S. users, planning to go live nationwide within the year, and building a comprehensive compliance system, including KYC, AML risk control, and trade monitoring. They also appointed former Barclays Chairman Roshan Roberts as CEO for the U.S. region, providing a model for crypto projects to respond to regulation and potentially injecting vitality into the U.S. crypto market.
Dogecoin initially gained attention through 'humorous cuteness' and endorsements from Elon Musk, skyrocketing in market value to enter the top ten mainstream coins in 2021. Now, the Dogecoin community is actively promoting its development toward practical applications, with the launch of the Cardinal protocol and indexing features introducing new gameplay. The Dodge Pump token issuance platform based on the Cardin OS protocol features one-click token issuance, easy operation, and low costs, attracting significant attention and set to launch an airdrop plan. Its first project, DPP, leads in market value, attracting many holders and extensive discussions, showcasing strong community vitality and helping Dogecoin transition from a single payment currency to a foundational platform for Web3 applications. Currently, Dogecoin's market value is nearly $22.9 billion, with a daily trading volume of $567 million. Although its short-term performance is sluggish, its potential for ecological expansion makes the future promising.
