▶️ Watch on 3Speak --- Crypto highlights from last week. Breno's short note: Bitcoin is currently oversold, and although it's been recently more correlated to macro-trends, it was created for uncer...
Transcript
Hi, by economy friends. Macro headwinds hit crypto as oil and the dollar spiked. Pulling Bitcoin lower just as tokenized assets and emerging market adoption raced ahead. Let's highlight the major developments you need to know. Bitcoin kicked off. March, reaching $70,000, then tracing back to $66,000. Ethereum charted similarly staying near $2,000. Solana is at $83, last week's highlights were. Escalating Middle East tensions sent WTI crude above 74BL. jolting equities and driving the dollar to multi -week highs. Real-world asset tokenization is exploding. New data show the market swelling to $25 billion. Roughly quadrupling a year ago, U.S. treasuries and commodities led 58% of the inflows. And Solana now boasts more Ruya holders than Ethereum, even though Ethereum retains most of the value. Latin America is emerging as a crypto powerhouse. A recent report showed $730 billion in regional transaction volume last year. Up 60% and accounting for about 10 % of global volume. Monthly active users rose 18%, roughly triple the US pace. The SEC closed its case against Justin Sun after Rainbury agreed to pay $10 million. Claims against Sun and his related entities were dismissed without admission of guilt. The agency had alleged illegal securities sales and wash trading. February's jobs report showed 92,000 positions lost and unemployment ticking up to 4.4%. Yields eased, equities wobbled, and Bitcoin held around $70,000, reflecting how deeply macro data now anchors crypto sentiment. Micro Strategies Michael Saylor signaled another Bitcoin buy after his firm added 3,015 BTC for $204 million. Boosting its stash to 720,737 BTC, he again declared there is no plan to diversify, reinforcing his long-term bet on digital gold. Canada's central bank and major lenders issued and settled a 100 million bond on hyperledger fabric. The three-month note cleared almost instantly on distributed ledgers tied to central bank deposits, highlighting efficiency gains but also governance hurdles. Kazakhstan's central bank plans to invest up to $350 million of its reserves into crypto-linked assets beginning as early as April, with the option to add another $350 million later. The move builds on the country's earlier forays into state-backed crypto funds. Oil shocks, macro data, and regulatory moves shaped crypto sentiment this week. Yet tokenization and adoption marched on. With Latin America and Kazakhstan leaning in in institutions like micro-strategy doubling down, the space remains a study in contrasts, short-term volatility against long-term conviction. Thank you for watching. I'll see you next week.