Grayscale recently met with the SEC’s crypto task force, urging for approval to allow Ethereum staking through its ETFs. The company emphasized that $61 million in rewards have been missed due to current regulations. Grayscale is requesting an update to its Form 19b-4 filings for the Grayscale Ethereum Trust ETF (ETHE) and Grayscale Ethereum Mini Trust ETF (ETH). If approved, these changes would enable the company to directly earn staking rewards, optimizing potential returns for investors.
DeFi Technologies, the Toronto-based publicly traded company has striked a major move aimed at expansion. On Monday, it launched its new RWA tokenization-focused exchange, Kenya Digital Exchange (KDX).
The exchange, aimed at tapping into the growing digital market of Kenya, is launched with the collaboration of Kenya’s Nairobi Securities Exchange (NSE).
Notably, the new exchange launch builds on the partnership signed last year between NSE, Defi Technologies’ subsidiary, Valour and SovFi.
The collaboration also involves the listing of Valour’s exchange-traded products (ETPs) on NSE by Q3 2025.
KDX: Why Defi Technologies is launching a new exchange
Curtis Schlaufman, the Vice-president of VP Marketing and Communications at DefiTech, revealed in a X post that the new Kenya Digital Exchange (KDX) aims at expanding his company’s role in global capital markets and digital asset innovation.
Given the ongoing growth in the RWA innovation and market, DeFi Tech’s KDX will work as a regulated platform for tokenizing real-world assets (RWAs) – equities, debt funds, and commodities.
KDX will enable primary issuance, trading, and liquidity provisioning for the tokenization of these instruments of traditional markets. It will leverage blockchain technology to ensure secure, transparent, and efficient transactions.
The platform will further integrate Hedera for settlement and to support smart‑contract–powered issuance and market‑making. This infrastructure is expected to serve both institutional and retail clients.
With Valous’ ETPs also in line, it aims to serve as a one‑stop marketplace for digital‑asset ETPs and other tokenized products.
To Provide Other Sevices too
As per the press release, implementation of KDX will occur in three phases:
1. initial platform design and compliance checks in late 2025,
2. pilot trading and ETP issuance in early 2026, and
3. full commercial launch by the second quarter of 2026.
The exchange’s revenue streams will include trading and listing fees, custody services, staking and liquidity‑provision charges, and other value‑added financial services. Curtis also informed that besides RWAs, Defi Tech’s KDX will also focus on token issuance, AI trading, market making, and global exchange interoperability.
Kenya has long been a global leader in P2P bitcoin trading – Chainalysis ranked it first worldwide in P2P trade volume in 2021, ahead of 154 other countries. The country ranks among the top 25 markets worldwide for crypto adoption.
With cryptocurrency transactions totaling an estimated USD 18.6 billion in 2022 and over six million users—roughly 10% of the population.
Smartphone penetration exceeds 85%, and the local fintech sector attracted USD 638 million in venture capital in 2024. This underscores strong consumer demand and robust digital‑finance innovation.
By tapping into a six‑million‑user market and nearly USD 20 billion in annual crypto transactions, KDX could catalyze a new wave of digital‑finance activity in East Africa.
Polymarket, a leading blockchain-based prediction platform, is reportedly in talks to raise $200 million in new funding, which could value the company at over $1 billion, according to The Information. The deal, if completed, would mark a major milestone for crypto-native markets in 2025. Polymarket Seeks Unicorn Status with Fresh Funding According to The Information,
Bitcoin (BTC) price performed underwhelmingly on Thursday, posting a mild 2% dip before stabilizing at $89,000 while the aggregate market cap rose by 6%. With Bitcoin market dominance down, early media chatter suggests the upcoming White House crypto summit scheduled for Friday, is expected to drive another wave of volatile price action in the days ahead.
Bitcoin Faces Stiff Resistance at $93,000 as Traders Rotate Into Altcoins
Bitcoin (BTC) performance on Thursday was underwhelming despite bullish sentiment across global financial markets, including cryptocurrencies.
BTC price formed a local bottom at $81,400 on Wednesday, before rebounding 14% after the U.S. Secretary of Commerce hinted that Trump may ease the 25% tariffs imposed on Canada and Mexico.
Bitcoin Price Action
However, Bitcoin bulls encountered resistance at $92,790, prompting traders to shift capital toward other high-performing assets. The latest charts indicate BTC has since retraced 4% to $88,900 at press time, signaling hesitation ahead of key macro developments.
Bitcoin Market Dominance Dips as Investors Bet on Altcoins Ahead of White House Crypto Summit
When Bitcoin underperforms the broader market, it often signals shifts in investor sentiment and risk appetite. In alignment with recent trends, the upcoming White House Crypto Summit has become a dominant discussion point among traders.
Following the announcement of the U.S. Crypto Strategic Reserve last weekend, altcoins outperformed Bitcoin’s 13% price gain.
Notably, Cardano (ADA) surged 100% within 24 hours of the announcement. Investors now anticipate that if the White House summit delivers favorable regulatory measures or investment plans for the reserve, altcoins could see another explosive rally.
Bitcoin Dominance (BTC.D) | March 6
Bitcoin dominance (BTC.D) has plunged 5% since Trump announced the Crypto Strategic Reserve on March 2. On Thursday, BTC.D fell 0.6 percentage points to 61.28%, indicating investors are rotating capital into altcoins, betting that regulatory clarity could fuel short-term gains beyond BTC.
David Sacks, Trump’s newly appointed Crypto Czar, has criticized the Biden administration for what he calls a massive financial blunder. Sacks pointed out that the U.S. government auctioned off 195,000 BTC over the past decade for just $366 million, missing out on $17 billion in potential profits as Bitcoin surged 4,500% since those sales.
“The Biden administration had a golden opportunity and fumbled it,”
Trump’s Crypto Czar, David Sacks, hinting that over 195,000 BTC that could have been added to US reserves, March 5, 2025.
With the White House Crypto Summit kicking off within 24 hours, expectations are mounting that the Trump administration could introduce expansive crypto-friendly policies, potentially reshaping U.S. digital asset regulation.
Bitcoin Price Forecast: Death Cross Flashes Short-term Risk Signals as BTC Fails $93,000 Test
Bitcoin price forecast show that BTC currently hovers around $89,112, showing signs of weakness as bearish momentum gains traction. The Super SMA 5-8-13 crossover indicates a Death Cross, with the 5-period SMA ($89,626) slipping below the 8-period ($88,864) and 13-period ($88,171).
This bearish alignment suggests a potential continuation of the downtrend, with BTC at risk of retesting the $80,727 support marked by the Parabolic SAR.
Bitcoin Price Forecast
Momentum indicators confirm downside risks. The MACD histogram has entered positive territory, yet the MACD line at -934 remains below the signal line at -1,663, suggesting a lack of bullish conviction.
The previous rally failed to breach key resistance, reinforcing sellers’ dominance as volume on the latest red candle suggests strong rejection above $90,000.
A decisive break below $88,171 could trigger cascading sell orders, driving BTC toward $84,000, with $80,727 as the next major support.
However, if bulls reclaim $89,626, Bitcoin could aim for a reversal, targeting $92,500 before challenging $97,500. Failure to reclaim momentum risks accelerated liquidation, reinforcing the bearish structure hinted at by the recent Death Cross.
