FalconX, a top digital asset prime broker, has announced a new partnership with Standard Chartered, a major global banking group. This strategic collaboration aims to provide institutional clients with advanced crypto investment solutions. The move strengthens FalconX’s position in the digital asset market and offers enhanced services to meet the growing demand for institutional crypto investments, creating new opportunities in the rapidly evolving crypto space.
The crypto market has bogged down after a bullish move just yesterday. As a result, the market capitalisation of the business now stands at $2.89 trillion. However, seasoned traders seized the opportunity, which led to the intraday trading volume surging by 10.07% to $129.65 billion. The drop coming ahead of pivotal events like Trump signing the executive order, Powell’s speech, U.S. jobs report, and Federal Reserve’s Monetary Policy Report has been a bummer for the industry. This has influenced the Fear & Greed Index to remain under the fear territory and a score of 30.
Bitcoin Price Recorrects to $88k
Bitcoin price has dropped by 4.42% in the past 24 hours to trade at $88,331.21. The $58.51 billion worth of trade volumes did little to push the flagship cryptocurrency’s price on the daily chart. BTC price did not react to Donald Trump signing an executive order to establish a Bitcoin reserve, which intends to position Bitcoin in line with traditional gold reserves.
As per Coin Market Cap’s “Altcoin Season Index”, the current score stands at 14 out of 100, indicating that the market remains in Bitcoin season. Leading altcoins experienced a broad decline, with Ethereum down 6.26% to $2170.17, XRP dropping 1.54% to $2.50, and Solana sliding 5% to $142.48.
While the majority of cryptocurrencies traded in the red, a few outliers posted gains:
Top Gainers:
SUI: $2.76 (+3.08%)
CRO: $0.08641 (+2.01%)
LEO: $9.92 (+0.03%)
Top Losers:
Sonic: $0.5264 (-14.31%)
AAVE: $208.43 (-12.37%)
ONDO: $1.04 (-12.29%)
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FAQs
1. How much does 1 BTC cost today?
Bitcoin is currently priced at $88,331.21, reflecting a 4.42% decline in 24 hours.
2. Which cryptocurrencies gained the most today?
SUI, CRO, and LEO recorded the highest gains today.
3. What is the market sentiment today?
The Fear & Greed Index has dropped to 30 (Fear), indicating cautious investor sentiment.
The post Crypto Price Today (07th March, 2025): Bitcoin Price Drops to $89k Ahead of Crypto Summit? appeared first on Coinpedia Fintech News
The crypto market has bogged down after a bullish move just yesterday. As a result, the market capitalisation of the business now stands at $2.89 trillion. However, seasoned traders seized the opportunity, which led to the intraday trading volume surging by 10.07% to $129.65 billion. The drop coming ahead of pivotal events like Trump signing …
The Pi Network has achieved a significant milestone, with over 12,000 applications created on its newly launched Pi App Studio platform in less than two weeks.
This achievement coincides with a roughly 3% increase in the price of Pi Coin (PI) over the past day. However, an expert warns that the PI may face challenges ahead unless the team implements some major changes.
This ease of use has made it popular among users, as a prominent Pioneer, Dr Altcoin, highlighted recently.
“The new Pi App submissions for the AI App Studio have surpassed 12,000!” the user posted.
Dr. Altcoin suggested that Pi Network has the potential to become the largest crypto project in history, even if only half of the submitted dApps are fully functional and approved. He pointed to several factors driving this potential.
These include Pi Network’s large KYC-verified user base, broad global reach in over 200 countries and regions, and distinctive requirement for KYB approval from centralized exchanges and businesses using Pi. Additionally, Pi Network leads the industry with the highest number of community-developed dApps.
“All of this will organically and significantly boost the price of Pi in the years ahead,” the Pioneer noted.
What Does Pi Coin Price Need to Recover?
Meanwhile, PI has shown signs of recovery. BeInCrypto data showed that the price rose 2.98% over the past day. At press time, Pi Coin’s trading price was $0.47.
However, the uptick is not due to Pi App Studio’s popularity but rather a market-wide rally driven by Bitcoin’s new record high. Furthermore, the small gains seem hardly enough to bring PI out of its nearly two-month-long slump.
Pi Coin’s price is just 16% away from its all-time low, and an expert claimed that it is ‘doomed to collapse below $0.40.’ Nevertheless, the Pioneer outlined several actions the team can take to save this sinking ship.
“If PCT (Pi Core Team) implements just 2 of the following 11 actions, the community can regain confidence, and the price can steadily rise again,” Pi Barter Mall stated.
Some of the strategies outlined include releasing a clear mainnet launch timeline, introducing DAO governance, and implementing token burn and buy-back programs. The user also proposes restarting mining rewards, providing incentives, launching liquidity pools, lending, staking, and cross-chain compatibility.
Furthermore, Pi Barter Mall stressed the importance of restoring user trust by sharing team holdings and addressing previous KYC restrictions.
“Without real action, Pi will lose the final layer of trust. But if PCT chooses the right path, we could witness a historic reversal,” the user concluded.
Previously, Ray Youssef, CEO of NoOnes, shared a similar perspective on Pi Network’s future. He emphasized that its success hinges on the team’s ability to move beyond the hype and focus on execution. The executive highlighted the importance of transitioning to an open mainnet, allowing free trading on public blockchains.
Youssef noted that this shift would enable price discovery and greater participation, key elements for the network’s long-term growth and sustainability.
“For Pi to sustainably reach or exceed $10 in a real market, it will need to have a full mainnet launch with open transfers, listings on high liquidity exchanges, a real economic layer, where people use Pi to buy, sell, or pay for services, and controlled inflation to ensure newly unlocked tokens don’t flood the market,” Youssef told BeInCrypto.
Thus, while the team continues to roll out new apps and updates, it still needs to go beyond these surface-level improvements and focus on the fundamentals to drive real price rally and sustainable growth for the network.
The world’s first XRP cryptocurrency exchange-traded fund (ETF) is set to begin trading this Friday on B3, the Brazilian stock exchange. The fund is launched by crypto asset manager Hashdex and managed by Genial Investimentos. It will trade under the ticker XRPH11 and will track the Nasdaq XRP Reference Price Index.
This development is a significant milestone for Ripple’s native asset, the fourth-largest cryptocurrency by market capitalization. Notably, this launch occurs in Brazil rather than the United States. The US is where Ripple is headquartered and where several asset managers have filed applications for similar products with the SEC.
First XRP ETF goes live in Brazil
The newly launched XRP ETF in Brazil is trading under the ticker XRPH11. It aims to provide investors with exposure to the crypto’s movements through a regulated exchange-traded product. According to Hashdex, the fund will invest at least 95% of its assets in the asset through various means.
These investment approaches include direct purchases of the cryptocurrency. In addition, it includes indirect investment via other financial products, futures contracts designed to replicate the profitability of the underlying index, and other investment vehicles that reflect the Nasdaq Reference Price Index. This structure allows both retail and institutional investors to gain exposure to the asset without directly holding the cryptocurrency themselves.
The Brazilian XRP ETF becomes the ninth ETF launched by Hashdex on the B3 exchange. It is also the company’s other cryptocurrency-focused products. As noted by Samir Kerbage, Hashdex CIO, “XRP11 is part of Hashdex’s line of mono-asset funds, such as ETFs BITH11, ETHE11 and SOLH11.” These other funds provide exposure to Bitcoin, Ethereum, and Solana, respectively.
XRP price reaction to the ETF news
Even though this is a major announcement for XRP holders, the Ripple price hasn’t shown any major move in the last 24 hours. The coin is trading at $2.2 at press time, with just an 0.8% rise during this period.
The fund will be available to all investors with access to the Brazilian stock exchange. However, Kerbage indicated that the target audience consists primarily of more sophisticated market participants. “The focus of these ETFs is sophisticated investors, such as institutional investors who want to build crypto portfolios on B3,” Kerbage stated in his statement to Valor.
The launch in Brazil comes at a time when Ripple’s coin-related investment products in the United States remain limited. Despite recent progress in settling regulatory disputes with the SEC, US investors currently have access only to a leveraged XRP ETF. As per the recent developments, Ripple coin and Solana are leading the ETF race right now.
