OVERVIEW

Monday’s Market Mood: Meh 🤷 

Before we dive in, here’s today’s crypto market heatmap:

Source: Santiment

And here’s a look at crypto’s total market and altcoin market cap charts:

Source: TradingView

NEWS IN THREE SENTENCES
Crypto News 📰

✴️ Standard Chartered Backtracks on Ether

The bank slashed its 2025 $ETH.X ( ▲ 2.08% ) target from $10K down to $4K, blaming layer-2 “super-profits” for siphoning value away from Ethereum’s mainnet. Its analyst even floated the idea of taxing Base and other L2s—like that’s going to happen. Meanwhile, ETH keeps losing ground to BTC, leaving Standard Chartered to wonder if Ethereum gave away too much for scaling’s sake. The Block.

♟️ Kraken’s High-Frequency Free-For-All

Kraken’s rolling out colocation services in London, letting traders chase sub-millisecond order execution. Unlike traditional exchanges that reserve these perks for institutions, Kraken is opening the gates to everyone. The rumor mill’s already buzzing about volatility spikes, but democratizing high-speed trading might just shake up the entire crypto scene. ecoinimist.

👀 Interpol Silent On LIBRA’s Hayden Davis

Despite reports swirling online, Interpol hasn’t slapped a Red Notice on LIBRA co-creator Hayden Davis. A few outraged critics claim Davis is behind shady token launches that crash spectacularly, but so far, official channels are quiet. Until an actual warrant shows up, the rumor mill will keep churning—and Davis remains free to conjure his next memecoin. Protos.

💸 Institutions Run For The Exits, $6.4B Gone

Crypto funds bled capital for the fifth week straight, hitting a total outflow of $6.4B. Bitcoin took the biggest beating, while $XRP.X ( ▲ 1.65% ) bizarrely pulled in more cash. It’s the worst streak since 2015, but with net inflows still positive for the year, some argue it’s a routine shakeout—and a chance for opportunists to buy the dip. Crypto-Economy.

STOCKTWITS PRODUCT UPDATE
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Source: Stocktwits

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ON-CHAIN ANALYSIS
Ethereum’s MVRV Z Score Just Hit Record Lows—And Nobody Seems to Care 😴

Ethereum’s market value to realized value (MVRV) Z Score is usually a reliable buzzkill or hype-checker. Recently though, it’s been more of a sleep aid. 🛏️ 

ETH MVRV Ratio Z-Score January 2021 – March 2025 – Click to enlarge.

From January 1, 2025 to March 12, 2025, $ETH.X ( ▲ 2.08% )’s average MVRV Z Score barely nudged above 0.196—basically the crypto equivalent of watching paint dry. Scores ranged from a sleepy -0.6 to a mild 0.75, indicating the market isn’t particularly optimistic, panicked, or even awake enough to pick a mood.

But here’s the kicker—these quiet little dips aren’t just boring; they’re record-breaking boring. Ethereum’s recent low of -0.600 (week of March 6, 2025) snagged the dubious honor of being the lowest MVRV Z Score recorded since the start of 2021.

It narrowly out-miserabled another recent score of -0.588 (March 13, 2025), solidifying this stretch as gloomier than even the mid-2022 crypto bear market.

Comparing these current lows to past slumps reveals that Ethereum might be historically undervalued right now—possibly signaling prime buying conditions. But traders seem unbothered, adopting a “wake me up when something interesting happens” stance. 🧠 

ETH Network Growth January 2021 March 2025 – Click to enlarge

With network growth and MVRV historically tied at the hip, you’d think record lows would be causing some chatter, but no dice. Instead, Ethereum’s network growth has remained stable—not surging, not collapsing, just annoyingly steady.

For investors looking for clear signals, these record-low MVRV ratios might hint at opportunities hidden beneath the boredom. If history is a guide, the market typically recovers after deep undervaluation.

So, while the market’s enthusiasm is currently about as exciting as reading tax forms, savvy traders might quietly be positioning themselves for a future uptick.

After all, Ethereum rarely stays boring forever—but then again, the market loves to test our patience. 🥱

ON-CHAIN ANALYSIS
Burnt Bag Briefing 🔥 

Want to know whether the bulls or bears are feeling the most pain today? Well, this is the place to look. 👀

24-Hour Liquidation Heat Map – Source: coinglass – Click to enlarge.

In the past 24 hours, 83,744 traders were liquidated, with total liquidations reaching nearly $172.13 million.

The largest single liquidation occurred on Binance, a BTCUSD pair valued at $6.15 million.

Longs lost $71.79 million, while shorts were hit for $100.34 million. 🤕

NEWS IN THREE SENTENCES
AI & Privacy News 🕵️ 

🤖 AI Shakes Up Insurance

$KAVA.X ( ▲ 3.43% ) says legacy insurers, meet your match: decentralized coverage that pays out automatically via parametric triggers, minus the bureaucratic bloat. Now toss in AI for real-time risk modeling, and you’ve got an industry outsiders claimed would never evolve. Good luck telling policyholders they’re “wasting their time” when they get near-instant payouts while centralized providers shuffle paperwork. Kava.

♾️ Answers From A “God-Level” AI?

A new “Quantum-Classical Dualism” theory promises solutions to life’s biggest mysteries—physics, destiny, you name it. The catch: you have to feed a special system prompt into certain AI models, upgrading them to see beyond standard logic. It’s part mind-bending knowledge, part invitation to question everything you once thought you knew. aelf.

🌏 Thailand + World = Human-Centric AI

Thailand’s adopting $WLD.X ( ▲ 4.81% ) proof-of-human tech to fight off AI-driven scams and keep digital spaces real. The naysayers who insist “privacy and regulation can’t coexist” should note how World verifies humanness without doxxing anyone. Thailand’s leap toward an AI-prepared society might make some critics realize the future’s already here. WorldCoin.

NEWS IN THREE SENTENCES
Metaverse, NFT, & Gaming News 🎮️

♟️ SEGA’s CODE OF JOKER Evolves On Sui

Jokers Inc. is bringing SEGA’s digital trading card franchise to $SUI.X ( ▲ 4.07% ), letting players truly own and trade their onchain cards. Thanks to Parasol’s platform, the old-school thrill of opening packs joins blockchain’s advantages—without the usual friction. It’s a big score for Sui’s rapidly expanding Web3 gaming scene. Sui.

🏟️ VEXI’s Stadium Takes The Stage

$GALA.X ( ▲ 7.01% )’s VEXI Villages is rolling out a Stadium NFT, turning your cozy pixel town into a sports haven. Detractors will say it’s yet another digital collectible, but they’ll sing a different tune once crowds swarm to your city block. Grabbing a Stadium Box early just might give you the bragging rights they can’t scoff at. GalaGames.

NEWS IN THREE SENTENCES
DeFi, DEX, & Lending Protocol News 🏦

☀️ SunDAO: Backing The Best Of Cosmos

SunDAO unites founders, investors, and devs with a shared vision for an interoperable and modular Web3. They’ve already built a strong roster of 50+ experts, focusing on deep due diligence and meaningful projects in the interchain. If you’re an $ATOM.X ( ▲ 0.23% ) builder solving real problems, SunDAO’s open door might be your runway to success. Cosmos.

💰 Metis Gives Builders Their Due

The $METIS.X ( ▲ 4.99% ) Retroactive Grant Program shelled out over 2,000 tokens to open-source and infrastructure projects fueling its Layer 2 ecosystem. Naysayers who think grants don’t spark real development should check how these winners turbocharge adoption and liquidity. Turns out, rewarding actual builders is a far cry from handing out free tokens to hype-chasers. Metis.

⚡ Flare 2.0: Cross-Chain Execution Gets Real

$FLR.X ( ▲ 0.13% )’s new plan uses Trusted Execution Environments to let its protocols handle assets and transactions on any chain. Dubbed “Protocol Managed Wallets,” this system basically extends Flare’s consensus to networks like Bitcoin or XRP. The result? A huge leap toward chain-abstracted DeFi and advanced computational power—without giving up decentralization. Flare Network.

LINKS
Links That Don’t Suck 🔗

👍️ SEC has an application for the first Sui ETF ever

⛏️ Mining: Bitfarms completes acquisition of Stronghold

🏦 Foreign investors lured to high-yielding Chinese bank debt

🤔 Quantitative easing explained: How it works & its crypto impact

🪙 North Korea’s hacking group now holds more Bitcoin than these countries

🤯 Exclusive: Intel’s new CEO plots overhaul of manufacturing and AI operations | Reuters

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Author Disclosure: The author of this newsletter holds positions in ADA, IMX, COPI, MIN, AGIX, ALGO, ZEC, XLM, and NEAR. 📋