SEC and Ripple Case Coming to an End
The U.S. Securities and Exchange Commission (SEC) is preparing to end its more than four-year-long lawsuit against Ripple. According to information shared by Fox Business reporter Eleanor Terrett on March 12, if Ripple and the SEC reach an agreement on the appeal process, the $ 125 million court decision given in August 2024 may remain valid. However, if the parties cannot agree on changing this penalty, they will need to submit a joint request to the court.
Ripple Chief Legal Officer Stuart Alderoty stated that it is unclear whether the SEC will drop the case entirely, but that the process is at a more advanced stage compared to other dropped cases. Recently, the SEC; Coinbase also withdrew lawsuits against companies such as Consensys and Kraken. This change is thought to be related to the new administration’s more moderate approach to crypto.
SEC ETF Approval Process Awaits Chairman Change
The U.S. Securities and Exchange Commission (SEC) has delayed ETF applications for crypto assets such as Dogecoin, XRP, Solana and Litecoin. The delay is said to be due to the fact that Paul Atkins, the newly appointed chairman of the SEC, has not yet gone through the approval process. Experts say this delay is a normal procedure and will not negatively affect the chances of approval.
According to Bloomberg, there are currently more than 60 spot crypto ETF applications awaiting review. It is estimated that Litecoin ETFs have a 90% chance of approval, Dogecoin 75%, Solana 70% and XRP 65%. Recalling that the SEC previously approved Bitcoin and Ethereum ETFs after several delays, analysts say that this process could proceed in a similar manner.
Canada Imposes $30 Billion in Retaliatory Tariffs on the US
Canada announced that it will impose retaliatory tariffs on $30 billion worth of US goods in response to the tariffs the US imposed on steel and aluminum imports. The government stated that it will follow a “dollar-for-dollar” approach and will impose an additional 25% tax on products such as steel, computers and sports equipment.
This move comes after the Trump administration implemented steel and aluminum tariffs. The EU also decided to impose $28 billion in additional tariffs on American products such as motorcycles and whiskey. Canadian Foreign Minister Mélanie Joly emphasized that they will not bow to Trump’s economic pressure, while EU Commission President Ursula von der Leyen stated that the tariffs were disrupting global supply chains and increasing uncertainty.
South Korea Prepares New Regulations for Institutional Crypto Investments
South Korea’s financial regulator, the Financial Services Commission (FSC), plans to release new guidelines in the third quarter that will allow institutional investors to invest in crypto assets in the country. Rules for public companies and professional investors will be announced later in the year, while regulations for crypto asset platforms and non-profit organizations are expected to be announced in April.
The move shows that South Korea is moving away from its strict stance on the crypto asset market and aims to increase liquidity by opening the market to more investors. The increased institutional participation could further grow the country’s crypto market, which already has a large retail investor network.
Russian Central Bank Considers Allowing Crypto Purchases for Qualified Investors
The Central Bank of Russia is working on a new experimental legal framework that would allow crypto assets to be purchased only by certain qualified investors. The special regulatory regime, which will last three years, aims to allow investors to participate in crypto trading while increasing market transparency and managing risks. Investors eligible for the program will include individual investors with large portfolios, financial institutions and institutional investors.
The new framework will establish risk-based regulatory requirements for financial institutions and offer opportunities to invest in crypto-based derivatives and securities. However, the Russian Central Bank still opposes the use of crypto assets as a means of payment within the country. On the other hand,; Russia aims to bypass Western sanctions by legalizing the use of crypto in international trade.
Metaplanet Increases Bitcoin Holdings to $250 Million
Japanese investment firm Metaplanet has bought an additional 162 BTC, bringing its total Bitcoin holdings to 3,050 BTC. The company’s Bitcoin treasury is currently worth around $250 million, and the move shows that the firm continues to view BTC as a strategic reserve asset. Metaplanet’s average purchase price per Bitcoin is $84,000. CEO Simon Gerovich noted that the company’s BTC yield (Bitcoin-per-share ratio) reached 53.2% in the first quarter of the year, exceeding the 35% target.
Metaplanet’s Bitcoin strategy is similar to the model followed by US giant Strategy, making it one of the largest Bitcoin treasury managers in Asia. The company aims to reach 10,000 BTC by the end of 2025 and 21,000 BTC by 2026. This plan is seen as a protection strategy against risks in the Japanese economy. Metaplanet’s shares increased by 8.68% following the Bitcoin purchase news, indicating continued investor interest.
Rumble Makes $17.1 Million Bitcoin Move
Video platform Rumble invested $17.1 million in total by purchasing 188 BTC to expand its Bitcoin treasury. These Bitcoins, which had an average purchase price of $91,000, were part of the company’s plan to allocate up to $20 million in BTC. CEO Chris Pavlovski emphasized that Bitcoin offers a hedge against inflation and will not lose value like traditional fiat currencies.
Rumble, which previously received a $ 775 million investment from Tether, also strengthened its position in the crypto sector by establishing a cloud services partnership with the government of El Salvador. The company stated that future Bitcoin purchases will depend on market conditions and financial needs.
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BITCOIN (BTC)
BTC is trading at $ 83,512 as of the morning hours, down 0.19%. BTC, which has been on the rise for two days, started the new day with minor pullbacks. If it loses the support level of 82,440, the negative trend can be expected to continue. In this case, 80,496 and then 78,459 levels are in the support position. If this zone is broken, BTC may pull back to $76,596 levels.
In case of a possible positive trend, the $84,666 resistance must first be overcome in order for the upward movement to continue. If this level is broken, the $86,673 and then $89,248 levels can be followed as the next resistance zones.
ETHEREUM (ETH)
ETH is priced at $ 1,880 as of the morning hours with a 1.43% loss in value. If the downward movement continues, $ 1,843 may be met as the first support level. Below this level, 1,798 and then 1,757 levels maintain their support positions. In possible deeper selling pressures, a pullback to 1,665 levels may be seen.
In upward movements, the $ 1,908 level must first be exceeded. If this level is broken, $ 1,960 and then $ 1,997 levels can be followed as resistance.
RIPPLE (XRP)
XRP is trading at $ 2.23 levels with a 0.40% loss in value as of the morning hours. XRP, which was rejected from $ 2.25 levels after yesterday’s increases exceeding 3%, continues to retreat. If the negative trend continues, the $ 2.19 level can be followed as the first support point and then 2.13. If this zone is broken, a pullback to $2.08 levels may occur.
In upward movements, the $2.25 level stands out as short-term resistance. If this level is exceeded, 2.31 – 2.37 band levels can be followed as resistance.
AVALANCHE (AVAX)
AVAX is trading at $ 18.84 as of the morning hours with a 0.37% loss in value. AVAX, which was rejected from the 18.96 resistance in the morning hours, is testing this level again. For a possible positive trend, breaking the 18.96 resistance will be critical first. Then, the 19.74 and 21.03 levels can be met as resistance.
In case of possible pullbacks, the $ 17.87 level can be followed as the first support point. Below this level, the $ 17.29 and $ 16.20 levels remain as support.
SOLANA (SOL)
SOL is traded at $ 123.78 as of the morning hours with a 2.22% loss in value. SOL, which was rejected from the resistance zone, seems to have also lost the 125.22 support level. If the pullbacks continue, the $ 118.17 level can be followed as the first support point. Below this level, 112.54 stands out as the critical support zone.
In upward movements, the 125.22 level is now the resistance level. If this level is exceeded, the middle band of the resistance zone is 130.48, and then the upper band is 135.47 dollars.
