Ethereum Temporarily Drops Below $1900

On March 18th, according to Ashes Monitor, following the forced liquidation of a 50x leveraged profit-taking whale's short position, the funds were withdrawn from Hyperliquid. Subsequently, 3202 ETH on-chain were purchased with a value of $6.1 million and 1039 PAXG were bought with $3.1 million. The remaining $12.5 million USDC was deposited into Maker.

On March 18th, as per official channels, MEXC has initiated the Tutorial (TUT) U perpetual contract, which offers 1 to 50x leverage and both isolated and cross-margin modes. The TUT spot trading was initially launched on the MEXC Meme+ trading section at 21:30 (UTC+8) on March 17th. Since its launch, the price of TUT has witnessed a rapid increase. The highest price has broken through $0.03, and the market capitalization has exceeded 25 million. According to CMC data, MEXC's 24-hour TUT spot trading ranks first among centralized exchanges.

On March 18th, according to FTX creditor representative Sunil, scammers have recently been impersonating FTX and sending phishing emails to creditors. Sunil reminded creditors as follows: 1) Do not click on any links within the email, as these links may direct you to a fake claims portal. 2) Verify the sender's email address. 3) Access the official claims portal or official website directly instead of using email links. 4) Verify information through X (formerly Twitter) and Telegram channels.

On March 18th, based on LookOnChain's monitoring, a whale with a 50x leverage for taking profits has liquidated a short position of 6210.89 BTC, anticipating a profit of 9.46 million USD.

March 18th. The Polkadot Treasury Proposal #1439, which was initiated by Bifrost and Hyperbridge, was approved the day before yesterday. This proposal intends to allocate 3.5 million US dollars (approximately 25 million RMB) to the top DEX collaborations in the Ethereum, Arbitrum, Base, and BSC blockchain ecosystems for providing liquidity of DOT and vDOT (DOT LST). Developers can utilize this liquidity for cross-chain composability and application development related to DOT/vDOT in the aforementioned blockchain ecosystems by using the Hyperbridge cross-chain and Bifrost SLPx SDK, and share the benefits, making full use of Polkadot's cross-chain interoperability.

On March 18th, Tether made a notable increase in its holdings of the leading Bitcoin mining company, Bitdeer Technologies Group. This strategic action underscores Tether's expanding engagement within the Bitcoin mining ecosystem and its diversification of the investment portfolio beyond stablecoin operations. According to the recent filings submitted to the U.S. Securities and Exchange Commission (SEC), Tether and its subsidiaries currently hold a total of 31,891,689 shares of Bitdeer's Class A common stock, which accounts for approximately 21.4% of the total number of shares issued by the company. Previously, in May 2024, Tether acquired $100 million worth of Bitdeer shares through a private placement and has the option to purchase an additional $50 million worth of shares within a 12-month period. It is reported that the relationship between Tether and Bitdeer is not merely a passive investment but rather a strategic partnership aimed at bolstering the Bitcoin infrastructure. By ob