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Bitcoin NFTs, layer-2 and restaking hype ‘completely gone’

A Bitcoin layer-2 executive explained how Bitcoin narratives that were “overhyped” have now wholly vanished while the ecosystem develops.

In a Cointelegraph interview, Bitlayer co-founder Charlie Hu laid out three Bitcoin narratives that he believed were overhyped. This included narratives that surrounded Ordinals, layer-2s and re-staking.

According to Hu, one of the overhyped narratives in Bitcoin was non-fungible tokens (NFTs). The executive told Cointelegraph that while inscriptions may have gone “to the moon,” Hu said the era is “completely gone.”

CryptoSlam data shows that in the first quarter of 2024, Bitcoin NFTs had a volume of $1.4 billion. In 2025 Q1, the volume is only at $280 million, showing an 80% drop. The executive believes that the 1,000x days of Bitcoin NFTs may be over and that people can’t expect similar “crazy” price performances anymore.

Are Bitcoin layer-2s running out of steam?

Apart from Bitcoin NFTs, Hu told Cointelegraph that

XRP price chart hints at 75% gains next as SEC ends lawsuit against Ripple

XRP (XRP) price has recovered by almost 30% in the last two weeks, led by a crypto market rebound, and Ripple’s long-running legal battle against the US Securities and Exchange Commission (SEC) comes to an end.

XRP/USD daily price chart. Source: TradingView

The cryptocurrency’s rebound is also occurring inside the confines of a classic bullish continuation pattern, promising further gains in the coming weeks.

XRP symmetrical triangle puts 75% rally in play

XRP’s bullish technicals appear as it forms what appears to be a symmetrical triangle pattern.

A symmetrical triangle is considered a classic bullish continuation setup that forms after the price consolidates inside a range formed by converging trendlines after a strong uptrend.

As a rule of technical analysis, the setup resolves when the price breaks above the upper trendline, potentially rising as high as the length of the

South Korea eyes KuCoin, BitMEX in crypto exchange crackdown

South Korean authorities are reportedly looking into blocking crypto exchange platforms that may have operated without adhering to the requirements set by the country’s financial regulator.

On March 21, local media Hankyung reported that the Financial Intelligence Unit (FIU) of the Financial Services Commission is considering sanctions against crypto exchanges for allegedly operating in the country without reporting as an operator to the appropriate regulators.

South Korean financial authorities require crypto exchanges to report to regulators as virtual asset service providers (VASPs) under the country’s Specified Financial Information Act.

The FIU is investigating a list of exchanges and is conducting consultations with related agencies. The regulator is also considering sanctions, such as blocking access to the exchanges, as they begin to prepare countermeasures.

Exchanges operated without VASP reports

The list of exchanges that have allegedly provided services to South Koreans without the appropriate VASP reports includes BitMEX, KuCoin, CoinW, Bitunix

Here’s why Bitcoin price can’t go higher than $87.5K

Bitcoin (BTC) is being capped at $87,500 thanks to manipulation by one or more whales, new analysis says.

The latest market coverage by trading resource Material Indicators on March 20 reveals why BTC/USD is stuck in its current range.

“Spoofy the whale” gets blame for BTC price range

Bitcoin has managed to sustain $80,000 as support for more than a week while hitting two-week highs of $87,500 on March 20.

Despite following broad volatility across risk assets, BTC/USD may have gone even higher were it not for maneuvers of large-volume trading entities on exchange order books.

Looking at global trading platform Binance, Material Indicators argued that shifting blocks of ask liquidity above price were keeping it pinned in a specific area — a classic manipulatory device known as “spoofing,” which has often been used by whales

Australia outlines crypto regulation plan, promises action on debanking

Australia’s government, under its ruling center-left Labor Party, has proposed a new crypto framework regulating exchanges under existing financial services laws and has promised to tackle debanking.

It comes ahead of a federal election slated to be held on or before May 17, which current polling shows is shaping up to a dead heat between Prime Minister Anthony Albanese’s Labor and the opposing Coalition led by Peter Dutton.

The Treasury Department said in a March 21 statement that crypto exchanges, custody services and some brokerage firms that trade or store crypto will come under the new laws.

The regime imposes similar compliance requirements as other financial services in the country, such as following rules safeguarding customer assets, obtaining an Australian Financial Services Licence and meeting minimum capital requirements.

Australia’s Treasury says its new crypto regulations have four priorities. Source: <a data-ct-non-breakable="null" href="https://treasury.gov.au/sites/default/files/2025-03/p2025-628504-s.pdf" rel="null" target="null"

Trump’s crypto czar meets UAE’s national security adviser on crypto, AI

White House crypto and AI czar David Sacks was among a number of Trump administration officials who recently met with United Arab Emirates officials to discuss emerging technologies and UAE’s potential plans to increase its investment in the United States.

Sheikh Tahnoon Bin Zayed Al Nahyan, the Gulf nation’s national security adviser and brother of the country’s president, said in a March 20 X post that he had spoken with Sacks about AI’s impact, “the expanding role of digital currencies” along with “the investment opportunities emerging at their convergence.”

US President Donald Trump hosted Tahnoon for dinner at the White House on March 18 and posted on his Truth Social platform a day later that he and senior US officials discussed with Tahnoon “ways for our countries to increase our partnership for the advancing of our economic

ETH mega pump coming? Ether on exchanges falls to near-decade low

Ether’s supply on crypto exchanges has dropped to its lowest level since November 2015, leading some analysts to predict a major price rally despite recent bearish sentiment.

“Ethereum’s holders have now brought the available supply on exchanges down to 8.97M, the lowest amount in nearly 10 years (November, 2015),” crypto analytics platform Santiment said in a March 20 X post.

Ether’s supply on crypto exchanges has reached its lowest point since November 2015. Source: Santiment

Santiment said ETH had been rapidly leaving crypto exchanges, with balances now 16.4% lower than at the end of January. This suggests that investors are moving their ETH into cold storage wallets for long-term holding, potentially holding more conviction that Ether’s (ETH) price will rise in the future.

A significant decline in ETH supply across crypto exchanges can

44% are bullish over crypto AI token prices: CoinGecko survey

Nearly half of crypto pundits in a recent survey are bullish over crypto AI tokens prices — which could bode well for the $23.6 billion crypto market sector.

Of the 2,632 respondents surveyed by CoinGecko between February and March, 25% were “fully bullish,” and 19.3% indicated they were “somewhat bullish” for crypto AI tokens in 2025.

Around 29% of respondents were neutral on the subject, while a combined 26.3% were either somewhat bearish or bearish.

Responses on crypto AI product sentiment. Source: CoinGecko

The survey response was similar when it came to crypto AI products, which comes as the “use cases combining crypto with AI have improved and are seeing more widespread adoption,” said CoinGecko’s crypto research analyst Yuqian Lim.

“This perhaps shows that crypto participants are not differentiating between crypto AI’s investing or trading potential and the technology itself,” said Lim.

“Such market sentiments

Bad news Bitcoin bulls, the long-hoped-for retail is already here: CryptoQuant

Bitcoin bulls who still think the cycle peak has yet to come as retail investors haven’t piled in yet might be using an outdated playbook, according to a crypto executive.

“The idea that the cycle isn’t over just because onchain retail activity is absent needs reconsideration,” CryptoQuant founder and CEO Ki Young Ju said in a March 19 X post.

Ju said that those tracking retail movements using only onchain metrics will not have seen the full picture.

“Retail is likely entering through ETFs — the paper Bitcoin layer — which doesn’t show up onchain,” Ju said.

“This keeps the realized cap lower than if the funds were flowing directly to exchange deposit wallets,” he added, noting that 80% of spot Bitcoin (BTC) exchange-traded fund (ETF) flows come from retail investors — a trend that Binance analysts already once observed in October last year.

Since

SMS scammers posing as Binance have an even trickier way to fool victims

Australian federal police have alerted over 130 people of a new text message scam aimed at crypto users that copies the same “sender ID” as legitimate crypto exchanges such as Binance.

The impersonation scam involves the fraudsters sending out messages through text and encrypted messaging platforms by impersonating a Binance representative, telling users of a crypto account breach and instructing them to set up a new wallet, the Australian Federal Police (AFP) said in a March 21 statement.

The text messages look real at first glance because they appear in the same legitimate text message thread as Binance communications.

Australia’s federal police say they have found at least 130 people who have been targeted by this scam so far. Source: Australian federal police

“The messages allegedly contained fake verification codes and were often ‘spoofed,’ meaning they appeared in a