SnapShot 198

Largest Bitcoin ETF inflows in six weeks, Ethereum stablecoin dominance grows, and Crypto.com gains regulatory approval in Argentina

Hello SnapShotters,

The week started strong, with U.S. spot Bitcoin ETFs recording $274.6 million worth of net inflows on Monday — the largest daily figure in six weeks.

The second-largest crypto, Ethereum, continues to exert dominance in the stablecoin market. Despite headwinds for speculative assets in the last few weeks, Ethereum has cemented its status as the primary settlement layer for digital dollar transactions. The chain hosts $35 billion in USDC and $67 billion in USDT as of March 19, and has averaged $800 billion of monthly volume over the past four months.

Read on for more news from the space, including Crypto.com’s Argentina registration, plus AVAX and SUI ETFs are in the works.

Market Spotlight

Note: Market prices captured in USD at the time of sending. Explore more on Crypto‌.com/Price. 
Want more? Get weekly Market and DeFi Updates from Crypto.‌com’s Research Team.

News Snaps

🔷 Ethereum’s Stablecoin Dominance Continues

Data from The Block showed that the Ethereum network continues to dominate stablecoin transactions in the decentralized space, maintaining an average of $1.1 trillion in stablecoin on-chain volume in the past month. USDT and USDC remain the top choices for stablecoins, accounting for $790 billion in on-chain volume. 

🦁 Crypto.com’s Latest Regulatory Milestone

Crypto.com continues to add to its industry-leading licenses and certifications, with its latest milestone coming this week after securing regulatory approval in Argentina.

🏦 Corporate BTC ETF

Bitwise launched Bitwise Bitcoin Standard Corporations ETF (OWNB), which tracks the Bitwise Bitcoin Standard Corporations Index comprising companies with at least 1,000 BTC in their corporate treasuries. 

📁 VanEck, Canary File for More ETFs

VanEck and Canary Capital both filed for ETFs this week; the former registered for an Avalanche fund, and the latter filed for a Sui fund, respectively. Both firms currently have a number of altcoin-focused ETFs pending review by the U.S. Securities and Exchange Commission (SEC).

What’s Ahead

German Stock Exchange Plans BTC and ETH Services

Deutsche Börse’s trading unit, Clearstream, plans to launch BTC and ETH custody services to institutional clients in April 2025, according to Bloomberg. This aims to provide a one-stop service, including custody, brokerage, and settlement.

Number of the Week

Chart of the Week

As of March 16, BTC and ETH futures open interest (OI) on exchanges saw a 30% and 48% drop, respectively, since their peaks. BTC OI peaked in January 2025 at $36.7 billion, while ETH OI peaked at $21.3 billion in January 2025. 

A decline in OI potentially suggests a leverage washout as speculative positions are closed, which may stabilize the market.

Crypto Trivia

What does ‘open interest’ mean in crypto trading?

A) The total number of crypto transactions in a day
B) The total value locked (TVL) in DeFi protocols
C) The total number of outstanding derivative contracts that have yet to be settled

Find the correct answer at the end of this newsletter 👇

NFT Spotlight

Introducing ‘Out of Orbit’, a “vibrant NFT collection” by Mariart, a New York-based illustrator, featuring “unique, playful aliens taking a break from their chaotic universe for a tropical Earth retreat.” They visit starting on Monday, March 24.

Mariart brings “bold and colorful art inspired by fashion and urban life” to ‘Out of Orbit’, which features “a fresh, lighthearted vibe” for these “fun, unique digital collectibles.” Each piece is “perfect for collectors in the crypto space looking for moments of fun and renewal.”

Mariart’s work “blends simplicity with vibrant energy,” exploring “new mediums” and “combining style and innovation that appeals to collectors in the fast-paced NFT world.”

Funky art that’s out of this world. From Korea to New York and all worlds in between.

Product Updates

New Security Tab in Crypto.com

Crypto.com Onchain has added a new Security tab to the Token Details page, making it even easier for you to trade in the on-chain world. The Security tab helps you discern if a token has tax already implemented, or if it is mintable or allows for blacklisting, as well as other features, giving you peace of mind before you trade it. Download Onchain now.

Stand to Win an Exclusive Airdrop in the Chain in a Bottle Giveaway

The aftermath of The Great War has left Mane City scarred with cracks webbing across the surface. A mysterious blue chain is seen shimmering between the cracks. Help Dr. Enigma solve five riddles pertaining to this blue chain, and enter your findings via this form. Each riddle will be posted daily on X, so follow @LoadedLions_CDC now and stay up to date! For the full details of the giveaway, visit the blog. 

Trade Individual Head-to-Head Matches in These New Sports Events

For the first time ever, U.S. users can now make predictions for individual matchups for two new major events, which have been added to Crypto.com Sports. Make your predictions for Pro Basketball Regular Season games or College Basketball tournament games. You can profit by correctly predicting the outcome of head-to-head matches in the Crypto.com App or on the Crypto.com Web. Try it now.

New Token Listings

Bubblemaps (BMT)

Bubblemaps is a blockchain analytics platform designed to simplify complex on-chain data through intuitive visual representations. 

This is informational content only and should not be considered as an investment recommendation. Some Crypto.com products may not be available in some jurisdictions.

Crypto Learn

How Inflation Influences the Crypto Market

Once considered mainly in the context of fiat currencies, inflation — a general increase in prices that reduces the purchasing power of money over time — is now a key topic in the world of crypto investing. It’s typically driven by factors like rising production costs or increased money supply. 

Crypto as an Inflation Hedge

Some cryptocurrencies like Bitcoin have fixed supply limits, making them appealing as an alternative store of value when fiat currencies lose purchasing power due to inflation.

Inflation’s Impact on Crypto Markets

Inflation doesn’t just influence fiat — it affects crypto, too. Rising inflation can drive interest in crypto as a hedge, while high inflation often leads central banks to raise interest rates, which may reduce demand for riskier assets like cryptocurrencies.

While crypto is sometimes viewed as a hedge against inflation, its market behavior can still be influenced by broader economic trends, including monetary policy and investor sentiment.

Learn more about how inflation influences crypto in this University article.

CryptoIRL

If you could only pick one…

The Crypto.com Icy White Card and @croshouf doubling the pleasure on a perfect strawberry — we mean Sunday.

Hashtag #CryptoIRL with your Crypto.‌com Card on your social profiles to get featured! Your 15 minutes of fame in the #CROFam awaits you!

Security Tips

Crypto Scammers Use Singapore PM Deepfake to Target Users

A deepfake video featuring Singapore’s Prime Minister was circulated online to sell cryptocurrency and other money-making schemes. Deepfake scams are becoming more sophisticated, using realistic audio and visuals to impersonate trusted public figures. These deceptive tactics typically aim to lure users into financial traps or illegitimate investments.

How to protect yourself:

1. Verify the source: Always check if the video or message comes from an official platform.
2. Cross-check information: Look up related news or press releases from official channels to validate any major claims.
3. Avoid impulsive actions: Scammers rely on urgency and excitement to prompt fast decisions. Take a moment to assess before clicking or committing funds.

Crypto Trivia Answer

 C) Open interest is the total number of outstanding derivative contracts that have yet to be settled.

That’s it for this week’s SnapShot. Want more? Find out what’s trending in the crypto world.