Ethereum (ETH) price breaks through $2,300, gaining over 10%, reaching a six-week high with notable institutional buying. US spot Ethereum ETF inflows hit record highs, with active corporate purchases and BitMine acquiring nearly 61,000 ETH. Analysts predict ETH has potential for further gains. The overall market recovery is primarily driven by institutional and corporate fund flows.
On March 17, Abraxas Capital increased its position by 25,100 WTI crude oil short contracts on-chain, bringing total position size to $14.9625 million with an average price adjusted to $93.39. The position currently has a floating loss of approximately $514,300, with a liquidation price of $144.39. This address was previously the largest whale account on Hyperliquid and currently holds 34,000 BTC.
European multi-asset investment platform Mintos has partnered with Upvest to launch regulated cryptocurrency exchange-traded products (ETPs) issued by BlackRock iShares and VanEck, aimed at simplifying investor operations and lowering compliance barriers.
March 17, PolyBeats detected that a new address on Polymarket invested $22,800 betting on "Backpack's FDV exceeding $300 million on its first day of launch," with the current probability at 71%. Backpack originated from a self-custodial wallet and has expanded into an Exchange providing trading services. The TGE is scheduled for March 23, at which time 25% of the total token supply will be released.
The Korean Financial Supervisory Service and other institutions signed an agreement on March 17 aimed at blocking funds flows related to telephone fraud and virtual asset crimes by analyzing overseas credit card usage data and entry/exit records. The new mechanism will enable information sharing among various institutions and strengthen monitoring and response to abnormal transactions.
March 17, the US Bitcoin ETF achieved net inflows for six consecutive days, with total capital reaching $962.8 million, and Bitcoin price increased over 12%. Analysis suggests that geopolitical tensions and Bitcoin's safe-haven attributes drove institutional demand, with the market maintaining focus on its future trajectory.
As artificial intelligence impacts software revenue, private credit markets face pressure with default rates climbing to 5.8%. Analysts warn that currency expansion may be necessary, with Bitcoin emerging as a hedge tool for investors, its appeal rising amid uncertainty. Markets need to monitor private credit dynamics and the impact of policy adjustments on Bitcoin's price.
Gate News report: On March 17, Israeli media reported that the Israeli military attacked Larijani, secretary of Iran's Supreme National Security Council. The Israeli military is verifying whether he has been killed, and Iran has not yet confirmed the incident.
SafePal announced on March 17th the integration of Polymarket, allowing users to participate in prediction market trading directly within the SafePal App using EVM assets without KYC or redirects. This move enhances the trading experience while safeguarding users' self-custody rights. In the future, SafePal will push market updates and progressively support non-EVM assets.
Gate News, March 17 - South Korea's defense minister stated that the country is not currently considering dispatching "Cheonghae Unit" destroyers to the Strait of Hormuz for missions. The Cheonghae Unit is a South Korean Navy anti-piracy task force, and the Strait of Hormuz is an important international shipping route connecting the Persian Gulf and the Gulf of Oman.
