Note: The X account is not owned by the original Enron entity. Users should be aware of the risk.

On March 4, Coinglass data shows $4.73 billion in forced liquidations across the entire crypto network over the past 24 hours. Long position liquidations totaled $1.33 billion, while short position liquidations hit $3.4 billion. Globally, 123,433 traders faced forced liquidations in the same timeframe. The largest individual liquidation was on Hyperliquid for BTC-USD, amounting to $8.1837 million.

Ethereum topped $2,100 on March 4, per HTX market data, posting a 7.07% 24-hour gain.

**Solana Stablecoin Trading Hits Record $650B in February** On March 4, The Block reported Solana’s on-chain stablecoin trading volume reached an all-time high of $650 billion in February—marking a new peak for the network. As on-chain retail payments mature, demand for stablecoins has surged sharply. Per Grayscale’s latest research (citing Allium data), the February figure doubled the previous monthly record set in October 2023 and was the highest stablecoin trading volume across all blockchains that month. Stablecoins have become a key driver of blockchain application growth. Grayscale notes Solana is well-positioned to gain market share in retail stablecoin payments as usage scales. The network currently leads several core blockchain adoption metrics, including user count, transaction volume, and transaction fee levels.

On March 4, decentralized stablecoin protocol Angle Protocol announced its community has voted to move forward with the orderly wind-down of its EURA and USDA stablecoins. Users must redeem their EURA or USDA holdings by March 1, 2027, at a 1:1 exchange rate with no loss. Any remaining reserves will be airdropped to unredeemed holders via Merkle. The Angle team is currently building Merkle, a DeFi incentive platform. Over the next year, users can redeem EURA/USDA on Ethereum through the Angle app, and swap EURC/USDC at 1:1 via the Angle Transmuter on the same platform. Key notes: - After March 1, 2027, the Angle protocol will cease operations, and EURA/USDA may lose their peg. - **Phase 2**: Post-redemption, remaining reserves will be proportionally airdropped to Ethereum-based EURA/USDA holders (only users who moved holdings to Ethereum are eligible, via Merkle). - **Phase 3**: An additional one-year claims window lets users directly claim EURC/USDC on Merkle, totaling

On March 4th, Bitcoin briefly topped $72,000, posting a 6.9% 24-hour gain, per HTX market data.

March 4th, Bitcoin staged a strong rebound, surging above $71,000, according to data from Coinglass. Funding rates across major centralized exchanges (CEXs) and decentralized exchanges (DEXs) have turned positive, approaching neutral as short sentiment has eased significantly. Specific funding rates for major cryptocurrencies are shown in the attached chart. **BlockBeats Note**: Funding rates are set by crypto exchanges to balance contract prices with underlying asset prices, typically applying to perpetual contracts. This is a funding exchange mechanism between long and short traders—exchanges do not charge this fee. It adjusts the cost or profit of traders holding contracts to keep contract prices aligned with underlying asset prices. A 0.01% funding rate serves as the baseline: rates above 0.01% signal generally bullish market sentiment, while rates below 0.005% indicate bearish sentiment.