Here’s a quick recap of the crypto landscape for Monday (March 24) as of 9:00 p.m. UTC.
Bitcoin and Ethereum price update
Bitcoin (BTC) is currently trading at US$88,242.18, a 3.6 percent increase over the past 24 hours. The day’s trading range has seen a low of US$87,300.18 and a high of US$88,713.83.
Arthur Hayes speculates that Bitcoin could go as high as US$110,000 before retracing to the US$75k range as inflation concerns fade and the US Federal Reserve slows quantitive tightening (QT) and shifts to quantitive easing (QE).
Bitcoin performance, March 24, 2025.
Chart via TradingView.
Ethereum (ETH) is priced at US$2,091.12, garnering a 4.8 percent increase over a 24-hour period. The cryptocurrency reached an intraday low of US$2,072.25 and a high of US$2,102.94.
BlackRock’s BUIDL fund now holds US$1.163 billion worth of Ether, up from around US$990 last week, according to data gathered from Token Terminal.
Altcoin price update
- Solana (SOL) is currently valued at US$142.76, up 9.3 percent over the past 24 hours. SOL experienced a low of US$141.53 and a high of US$145.14 on Monday.
- XRP is trading at US$2.47, reflecting a 2.6 percent increase over the past 24 hours. The cryptocurrency recorded an intraday low of US$2.45 and a high of US$2.50.
- Sui (SUI) is priced at US$2.44, showing a 7.8 percent increase over the past 24 hours. It achieved a daily low of US$2.40 and a high of US$2.45.
- Cardano (ADA) is trading at US$0.7373, reflecting a 5.2 percent increase over the past 24 hours. Its lowest price on Monday was US$0.7277, with a high of US$0.7413.
Crypto news to know
Coinbase challenges Tornado Cash sanctions decision
The US Department of the Treasury has removed sanctions imposed on Tornado Cash in 2022 after the cryptocurrency mixer was accused of helping North Korean hacking crew the Lazarus Group launder stolen crypto.
The department argues that the lawsuit should be dismissed without a final court judgment; however, this idea is being challenged by Coinbase’s chief legal officer, Paul Grewal, who insists a final ruling is necessary to prevent legal uncertainty. Without one, he argues nothing is stopping the Treasury from reimposing sanctions in the future.
Cronje concerned about Sonic’s algorithmic stablecoin
Software developer Andrew Cronje has expressed reservations about proceeding with an algorithmic stablecoin project from Layer-1 blockchain Sonic given its resemblance to the failed Terra-Luna system, which erased tens of billions of dollars after a meltdown in 2022. Algorithmic stablecoins try to control the price of a stablecoin using an algorithm that adjusts supply and demand, rather than fiat-backed stablecoins, which hold dollars in a bank.
To encourage users to participate in the ecosystem and help maintain the stablecoin’s peg, algorithmic projects often offer extremely high yields or rewards. A core concern is that these systems are inherently fragile, as the algorithm may not be able to effectively maintain its peg if the demand for the stablecoin suddenly drops, triggering a “death spiral.’
According to Cronje, co-founder of Sonic Labs and founder of Yearn.finance, the blockchain project is developing an algorithmic stablecoin that offers an APR of up to 23.5 percent.
Ocree Capital tokenizes Winnipeg property
Ocree Capital, a securities dealer, has tokenized a C$51.9 million commercial real estate listing in Winnipeg, Manitoba. This process involves converting the ownership rights of the property, a Class “A” multi-residential development with 156 units, into digital tokens on the Polymesh blockchain.
“We’re proud to collaborate with Ocree Capital on this milestone initiative exemplifying how blockchain can bring greater access, transparency, and efficiency to real estate markets,” said Will Vaz-Jones, head of partnership development at the Polymesh Association. “Ocree’s regulatory approach and expertise, combined with Polymesh’s purpose-built blockchain infrastructure, creates a powerful solution for the Canadian market.”
This move by Ocree Capital represents a significant advancement in the real estate industry, as tokenization offers numerous benefits, including increased liquidity, fractional ownership and streamlined transactions.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
