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Today, a big moment is unfolding in the world of cryptocurrency as Brian Quintenz prepares to speak. He is set to appear before the Senate Agriculture Committee at 3 PM EST. Quintenz will share exciting news about the Commodity Futures Trading Commission’s (CFTC) authority in his prepared remarks. CFTC’s Potential Leap into Spot Crypto Regulation:
The post CFTC Should Oversee Spot Crypto Markets: Brian Quintenz appeared first on CoinGape.
The post Stellar Lumen (XLM) Price Prediction for March 19 appeared first on Coinpedia Fintech News
Ripple rival Stellar Lumen (XLM) is poised for massive upside momentum as it has formed a bullish price action pattern on the daily timeframe and is now garnering significant attention from traders and investors. On March 19, 2025, as sentiment across the crypto landscape shifts, XLM breached the resistance of the 200 Exponential Moving Average (EMA) on the daily timeframe.
This breakout of the resistance level and the shift in sentiment began after the United States Securities and Exchange Commission (SEC) dropped its lawsuit against Ripple Labs.
XLM is currently trading near $0.29 and has surged over 11% in the past 24 hours. This price jump suggests that it is mirroring its rival’s upside momentum. Meanwhile, its trading volume has increased by 135% during the same period, indicating heightened participation from traders and investors following the end of the legal battle.
Since November 2024, XLM has been on a downward trajectory, forming a falling wedge price action pattern on the daily timeframe. However, with the recent price jump, the asset is approaching the breakout area.
Based on its recent price action and historical patterns, if XLM closes a daily candle above the $0.29 level, there is a strong possibility it could initially soar by 30% to reach $0.37 in the coming days. Furthermore, if XLM sustains this rally and closes a daily candle above $0.35, it could witness another 40% surge, reaching $0.488.
With this positive development and bullish price action, traders have begun betting on the long side, as reported by the on-chain analytics firm Coinglass.
Data reveals that traders are currently over-leveraged at $0.2725 on the lower side, with bulls having built $5 million worth of long positions, while $0.3025 is another over-leveraged level where bears hold $2.20 million worth of short positions.
When combining this on-chain metric with technical analysis, it appears that bulls are back and will support the asset in reclaiming its all-time high in the coming days.
The post Stellar Lumen (XLM) Price Prediction for March 19 appeared first on Coinpedia Fintech News
Ripple rival Stellar Lumen (XLM) is poised for massive upside momentum as it has formed a bullish price action pattern on the daily timeframe and is now garnering significant attention from traders and investors. On March 19, 2025, as sentiment across the crypto landscape shifts, XLM breached the resistance of the 200 Exponential Moving Average …
The recent depeg incident involving sUSD from Synthetix has highlighted that this sector remains fraught with risks despite the immense potential of algorithmic stablecoins.
The sUSD incident is not the first to expose the vulnerabilities of algorithmic stablecoins. From technical challenges and regulatory pressures to dwindling community trust, projects in this space must navigate numerous obstacles to survive and thrive.
Algorithmic stablecoins, which maintain their value without direct asset backing, were once hailed as a breakthrough in decentralized finance (DeFi). However, according to CoinMarketCap data from April 2025, the total stablecoin market capitalization stands at $234 billion, while algorithmic stablecoins account for about $458 million, equivalent to just 0.2%.
This stark disparity reflects the reality that algorithmic stablecoins have yet to gain widespread trust from the community. High-profile failures like the collapse of UST/LUNA in 2022, coupled with regulatory uncertainties such as the EU’s MiCA framework, have fueled skepticism.
More recently, the depeg of Synthetix’s sUSD is a typical example of this model’s inherent risks.
Synthetix is a well-known DeFi protocol celebrated for its synthetic asset system. Within this ecosystem, sUSD is an algorithmic stablecoin designed to peg its value at 1 USD, backed by the SNX token and price data from Chainlink.
However, sUSD has faced significant challenges with a prolonged depeg recently. At the time of BeInCrypto’s report, sUSD was trading at 0.77 USD, which has persisted since late March 2025. The primary cause was a major liquidity provider withdrawing from the sBTC/wBTC pool on Curve, which triggered intense selling pressure on sUSD. This forced users to convert other synthetic assets like sETH or sBTC into sUSD, exacerbating the price decline.
On April 21, 2025, Kain Warwick, the founder of Synthetix, announced on X that the team had implemented an sUSD staking mechanism to address the issue. However, he noted that the mechanism remains manual and lacks a fully functional user interface (UI), which is expected to launch in a few days.
“Update on the sUSD depeg. We have implemented an sUSD staking mechanism but it’s very manual until the UI goes live in a few days. Here was my hot take from discord though,” shared Kain Warwick, founder of Synthetix.
Warwick further stated that if the incentive mechanism (carrot) proves ineffective, Synthetix would adopt stricter measures (stick) to compel stakers in the 420 pool to participate more actively. He emphasized that, with the collective net worth of SNX stakers reaching billions of USD, Synthetix has the financial resources to stabilize sUSD and resume development of derivative products on Layer 1.
Before the sUSD depeg incident, the market witnessed the dramatic collapse of UST/LUNA in 2022. UST, Terra’s algorithmic stablecoin, suffered a severe depeg, dragging LUNA’s value down from $120 to near zero. This event caused billions of USD in losses and significantly eroded trust in the algorithmic stablecoin model.
More recently, the ‘Godfather of DeFi’, Andre Cronje, behind Sonic (formerly Fantom), also shifted direction. Sonic initially developed a USD-based algorithmic stablecoin but later pivoted to a stablecoin pegged to the UAE dirham.
“Pretty sure our team cracked algo stable coins today, but previous cycle gave me so much PTSD not sure if we should implement,” Cronje stated.
Beyond technical risks, algorithmic stablecoins face mounting regulatory pressures. The EU’s MiCA regulation, effective since June 2024, imposes strict standards on stablecoin issuers to ensure consumer protection and financial stability. Under MiCA, algorithmic stablecoins are classified as ART (Asset-Referenced Token) or EMT (E-Money Token), requiring projects to meet complex compliance demands.
This intensifies the pressure on developers, especially as other jurisdictions also tighten crypto regulations.
These examples show the vulnerability of algorithmic stablecoins to liquidity shocks and market sentiment, particularly due to their lack of direct asset backing.
Despite the challenges, algorithmic stablecoins still hold developmental potential. A March 2025 post on X by CampbellJAustin suggested that a next-generation decentralized algorithmic stablecoin is feasible if lessons are learned from past failures.
“I actually think a next-gen decentralized algorithmic stablecoin is possible. I also think it will not be done correctly by the crypto community because the primary constraints are economic and risk management, not technological,” CampbellJAustin shared.
However, projects must focus on building more price stability mechanisms, combining algorithms with liquidity safeguards to succeed. Additionally, they should prepare for regulatory requirements, particularly in regions with stringent rules like the EU. Transparency in operations, regular audits, and clear communication with users are crucial to rebuilding community trust.
By addressing these factors, projects in this space can seize the opportunity to regain confidence and drive innovation.
The post sUSD Depeg Rekindles Terra Flashbacks—Can Algorithmic Stablecoins Ever Win Trust? appeared first on BeInCrypto.
Trump’s White House advisor, Bo Hines, revealed a running global race for Bitcoin (BTC) accumulation, articulating the US government’s determination to win.
These remarks come barely two weeks after he revealed how the country would fund a Bitcoin reserve.
Hines made these remarks in a recent interview, detailing how the US aims to capitalize on the scarcity of Bitcoin. Further, he believes Bitcoin’s decentralized origins and growing adoption give it longevity.
Based on these, Bo Hines and the US government appreciate the need for quick action so that other nations do not front-run it.
“I think there is a sort of space race as it pertains to the accumulation of this asset,” Hines stated.
Bo Hines also explained the US’s commitment to becoming “the Bitcoin superpower of the world,” aligning with President Trump’s vision for digital assets.
Referring to Bitcoin as the “digital gold,” the US Digital Assets Advisory Council leader said the government is expediting its plans for a Strategic Bitcoin Reserve. Trump’s administration is working with the US Treasury Department, led by Scott Bessent, to audit existing Bitcoin holdings as part of these plans.
Reportedly, once the audit is complete, they will develop Bitcoin acquisition methods that are “budget-neutral.”
Bo Hines also articulated that these methods would constitute multiple strategies, ensuring the most practical and efficient approach.
“The goal is to begin the accumulation process as quickly as possible, with initial steps prioritized for speed and scalability,” he added.
In hindsight, Bo Hines recently revealed that the Trump administration was considering using tariff revenues to fund a national Bitcoin reserve. As BeInCrypto reported, he also cited the need for the US to act swiftly amid global competition for Bitcoin accumulation.
“SBR [Strategic Bitcoin Reserve] recognizes the value of what Bitcoin is and how it can be harnessed for the American people. There is a finite number of Bitcoin and I think there will end up being a race to accumulate,” Hines stated.
Meanwhile, Bo Hines’s remarks came as the US observed President Trump’s 100 days in office. Hines indicated that their early actions, including a sweeping executive order signed in the first week, set the tone for a new digital asset agenda.
Along with this order, Trump established an interagency working group while at the same time ending Operation Choke Point 2.0. It also commissioned regulatory reversals, including terminating key lawsuits and banking legislations, effectively making the runway easier for crypto firms.
Before August, he also revealed the White House’s plans for stablecoin and market structure legislation for the President’s approval. An imminent report will detail the implementation of these structures.
Ahead of all these plans, the Senate will vote on the Genius Act, which, if passed, could create a better stablecoin regulatory framework in the US.
Meanwhile, despite Bo Hines’s assertions, Bitcoin price is up only by a modest 0.76% in the last 24 hours, trading for $95,039 as of this writing.
The post Bo Hines Unveils Plan for Strategic Crypto Reserve As US Eyes ‘Bitcoin Superpower’ Status appeared first on BeInCrypto.