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Crypto Market Fear Subsides Significantly, Today's Fear and Greed Index at 45

2025.03.24 10:40:48

On March 24th, based on alternative data, the cryptocurrency Fear and Greed Index today is 45 (yesterday it was 30), and market fear has significantly eased. Note: The threshold of the Fear Index is 0-100, and it includes indicators such as Volatility (25%) + Market Trading Volume (25%) + Social Media Hype (15%) + Market Surveys (15%) + Bitcoin Dominance (10%) + Google Trends Analysis (10%).
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Backpack is planning to conduct its TGE around March 23 and will provide further updates tomorrow.

On March 11th, Backpack CEO Armani Ferrante announced during an official Twitch livestream this evening that the token’s TGE date is tentatively set for around March 23rd. A more precise official date will be revealed tomorrow, March 12th—stay tuned to official channels for the formal update. Per data from PolyBeats monitoring, on Polymarket (the prediction platform), the probability that Backpack’s TGE will occur before December’s end has hit 100%. Meanwhile, the likelihood of the TGE happening before March wraps up has spiked sharply, now sitting at 93%.

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Iran Warns U.S. of Sliding Into a Protracted War

**March 11 (Local Time) — Iranian Islamic Revolutionary Guard Corps (IRGC) Deputy Commander Ali Fadavi stated that no U.S. warships are currently within 700 kilometers of Iran’s surrounding waters. He claimed the U.S. Navy has “fled” the region, as Washington is well aware Iran has developed a special operation plan targeting and sinking U.S. aircraft carriers.** **Fadavi further warned the U.S. could be drawn into a long-term war of attrition — a conflict he said would lead to the total collapse of the U.S. and even the global economy. He also alleged Iranian armed forces shot down a U.S. F-15 fighter jet in southern Tehran.**

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DoubleZero Launches Real-Time Market Data Delivery Platform DoubleZero Edge

On March 11, DoubleZero announced the launch of DoubleZero Edge, its new real-time market data delivery platform. Built on multicast technology, the platform delivers high-speed, real-time data to traders and market participants—offering a level playing field for validators and trading systems, similar to the infrastructure powering traditional financial trading platforms. Starting with Epoch 939, all validators connected to DoubleZero will qualify for a 5% exemption on block reward fees. Participating validators can also earn additional income by submitting shreds, with revenue generated from subscription fees paid by traders.

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Anchorage Digital Makes Strategic Investment in Immunefi

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Across Proposes Temperature Check Proposal, Envisions Governance and Steward Transition

On March 11, Across Protocol put forward a temperature check proposal exploring a transition of its existing DAO and token structure to a U.S. C-Corp and equity framework. The new entity, AcrossCo, would serve as Across Protocol’s operational company under the plan. ACX token holders will have two options: convert their tokens to AcrossCo equity at a 1:1 ratio, or redeem ACX for USDC based on the average market price over a one-month window within a six-month period. Large holders may choose direct equity conversion, while smaller holders can participate via a free special purpose entity (SPE) structure.

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