BTC experiencing upward insertion phenomenon, custom indicators remind you to pay attention to market trends

On March 18th, according to Onchain Lens monitoring, pump.fun deposited 196370 SOLs worth approximately $25.31 million into Kraken one hour ago.

According to Blockspace, stablecoin issuer Tether has increased its stake in Bitcoin mining company Bitdeer (BTDR) based on documents submitted to the US Securities and Exchange Commission. The document shows that Tether and its subsidiary Tether International, SA de CV and Tether Investments, SA de CV currently holds 31891689 shares of Class A common stock in Bitdeer, accounting for 21.4% of the company's issued shares. Tether is known for its stablecoin USDT. However, the company has been investing in Bitcoin mining, energy, and artificial intelligence infrastructure over the past few years. At the same time, Bitdeer has been seeking vertical integration of its Bitcoin mining business from silicon to energy. Bitdeeer recently released the test results of its SEALINER A3 chip, which showed performance below 10 J/TH in laboratory testing.

On March 18th, according to official sources, the Trump crypto project WLFI announced the completion of a total of $550 million in token sales, with over 85000 participants completing KYC certification. WLFI's Macro Strategy has also allocated various digital assets in its strategic reserve plan, including BTC, ETH, TRX, LINK, SUI, and ONDO tokens. The 'macro strategy' may be partially used to support WLFI in funding innovative projects, promoting ecosystem growth, and creating new opportunities in the rapidly developing DeFi field.

According to CoinDesk citing Blockspace, two Bitcoin improvement proposals (BIPs), BIP 119 and BIP 348, are gaining public support and may be implemented in the next soft fork of Bitcoin. BIP 119 refers to OP_CECKTEMPLETVERITY (CTV), while BIP 348 refers to OP_CECKSIGFROMSTACK (CSFS). These BIPs propose new methods for writing Bitcoin scripts, which have received explicit support from numerous developers and can significantly improve Bitcoin's self custody, fee management, and existing technologies such as Lightning Network, Ark, and contract based applications. Blockspace wrote that this is the first time in over four years that Bitcoin users have pushed for changes to the underlying software of the project. It is reported that the process of Bitcoin soft fork requires the support of stakeholders including developers, custodians, investors, and miners, and miners need to express their support for making changes to the blocks they mine.

Magic Eden saw an explosive but short-lived surge in Ordinals trading, with daily volume averaging nearly $50 million for eight days, driven by the Idiots NFT mint.The following is an excerpt from The Block’s Data and Insights newsletter.