Bitcoin’s NFT and Layer 2 Dreams Just Met a Harsh Reality
Last year, some dreamed of perverting Bitcoin with flashy NFTs, magical layers 2, and convoluted re-staking. Purists were outraged, arguing that BTC should be left alone. Should we have waited? Clearly yes: today, these crypto whims are almost extinguished. While the fires of innovation crackled, the hype has subsided. But what remains of these promises now vanished?
In the crypto universe, certain concepts have a habit of dancing and then taking their bow. Such is the case of Ordinals, these Bitcoin NFTs that made wallets vibrate. In 2024, their volume reached 1.4 billion dollars. In 2025? Barely 280 million. A free fall of 80%.
The same fate for Bitcoin’s layers 2: at the beginning of 2024, more than 80 projects tried to charm investors and the media. Six months later, the soufflé has collapsed. “It was overestimated from the start,” confides Charlie Hu, co-founder of Bitlayer.
Also lagging behind: re-staking, this clumsy innovation now reduced to two or three survivors. Muneeb Ali, founder of Stacks, drives the nail home : “the honeymoon is over.”
Crypto entrepreneurs are starting to speak the truth. Too late?
Has the crypto market become allergic to its own excesses?
However, amidst the debris of hype, one idea seems to hold its ground: Bitcoin DeFi. Some envision it as a more solid alternative, less flashy. Dominik Harz (Build on Bitcoin) states it bluntly :
The Bitcoin DeFi has not yet taken off.
To date, 0.3% of Bitcoin’s market cap fuels DeFi uses, compared to 30% for Ethereum. A chasm of x100.
But the foundations are there. Thanks to technologies like zkBTC, transactions are becoming ultra-fast, low-cost, and programmable. The future? Perhaps in the fusion between the Bitcoin blockchain and the agility of DeFi.
Some, like @SamaAlbert90, already speak of a “new financial era“.
The prediction of the BitcoinOS CEO? A DeFi ecosystem on Bitcoin valued at $10 billion if Ethereum stumbles. And why not? If layers 2 become performance-serving architectural tools, investments could follow.
Is the flagship crypto ready to become a base for sustainable financial innovations?
The cold war continues between Bitcoin and Ethereum, each camp holding onto its ambitions. Ethereum is preparing its “Hoodi” update , crucial for its scalability. If it fails, Bitcoin could scoop the pot. It would be a turning point. With its new technical layers (zkRollups, EVM compatible), Bitcoin offers attractive solutions.
Maxwell Sanchez (Hemi Labs) reminds us that copying and pasting Ethereum’s tech is not enough: “It must adapt to the very core of Bitcoin.” Translation: there’s no need to force a square into a round hole. The Bitcoin network must grow in its own way.
On Ethereum’s side, the pressure is high. Every major update is a risky promise. The complexity of “Hoodi” could create more problems than solutions. Meanwhile, Bitcoin is refining its vision, developing its layer 2 protocols, and waiting for its rival’s misstep.
Who will win the duel of the titans in the crypto market? The one who convinces developers, users, and investors over the long term. And you, who are you betting on?
Despite their apparent discredit, Bitcoin’s layers 2 could very well explode . A recent report from the Spartan Group discusses their explosive potential in the medium term… to be continued.
ADA Trading Volume Explodes, Whales Pile In: ADA Price Surge to $2 Around the Corner?
Cardano (ADA) is seeing a massive surge in trading volume and significant whale accumulation, even as its price remained relatively stable.
Data shows a dramatic 63.84% jump in ADA’s 24-hour trading volume, reaching over $1.12 billion . Large ADA holders; whales, are actively increasing their stakes, adding over 50 million ADA just in the past 48 hours.
This buying spree followed an earlier whale purchase of 190 million ADA just the day before. But even with all this activity, ADA’s price hasn’t moved much, which begs the question if all this whale activity can push ADA’s price up.
Input Output Global (IOG), the company behind the Cardano blockchain, had announced that their Lace wallet is now multi-chain . So as it stays, Bitcoin is now integrated into the Cardano blockchain for traders adopting Lace wallet.
Cardano’s price is currently in a holding pattern, primarily trading between $0.69 and 0.75.
While the increase in whale activity and Lace’s new Bitcoin support are positive, the price of ADA has remained fairly flat. If the price breaks below the $0.69 support level, analysts suggest it might fall further, to around $0.57 or 0.60.
Technical indicators provide some context. The Relative Strength Index (RSI) currently sits at 46.14, suggesting neutral momentum. The Bollinger Bands (BB) indicate the next resistance level to watch is 0.76, with stronger resistance at 0.93. At the time of this report, ADA trades at 0.71, down 1% over the last 24 hours.
Related: “Winning” PEPE Whale Buys More as Binance Wallet Sees Heavy Traffic
Despite the recent price stagnation, signals suggest Cardano might break out soon. Current data indicates relatively low selling pressure on ADA, increasing the possibility of the price testing the resistance level at 0.75.
Related: Will Altseason’s Promise Hold? Bitcoin’s Resistance and Altcoins’ Anxious Wait
Crypto analyst Ali Martinez shared the above chart pointing that if Cardano closes above 1.15 on the daily chart, it will confirm a bullish right-angled descending wedge pattern. This pattern suggests a potential significant price surge, possibly driving ADA up to the $2 mark.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
Ethereum whales buy the dip, accumulate $236m ETH in 72 hours
Ethereum whales are doubling down on the top altcoin by market cap with an impressive $236 million buy wall in three days.
Ethereum ( ETH ) price continues to trade below $2,000, struggling amid recent sell-off pressure.
However, whales, or large-scale investors with substantial ETH holdings, are unfazed.
In fact, on-chain data shows that the world’s largest altcoin by market cap has attracted significant buying activity from large holders.
On March 21, crypto analyst Ali Martinez shared a chart showing a spike in whale accumulation of ETH. According to the analyst, the latest dip that saw Ethereum’s price retreat from above $2,000 allowed whales to scoop up over 120,000 Ether tokens — worth nearly $236 million — in just three days.
Whales bought over 120,000 #Ethereum $ETH in the last 72 hours! pic.twitter.com/kuZY6u9drS
According to Lookonchain, one such whale just bought 7,074 ETH worth over $13.8 million. On-chain data shows the whale withdrew 4,511 ETH worth over $8.81 million from crypto exchange OKX, and proceeded to deposit these into top decentralized finance platform Aave.
But the whale did not stop there. They borrowed 5 million USDT from the DeFi protocol and deposited it into OKX, with the funds used to buy 2,563 ETH for $5 million.
A whale bought 7,074 $ETH ($13.8M) today! The whale withdrew 4,511 $ETH ($8.81M) from #OKX 3 hours ago and deposited it into #Aave . Then he borrowed 5M $USDT from #Aave and deposited it into $OKX to buy another 2,563 $ETH ($5M). https://t.co/E2RP7YmcaA pic.twitter.com/YLNvvVH3RB
In this period, the price of Ethereum fluctuated between $1,872 and $2,060.
ETH currently trades around $1,966, continuing the sideways action after giving up gains seen when bulls rallied 7% on Wednesday.Weekly gains are now just 1.7%, and buyers have endured a 27% pullback in the past month.
Although the choppy performance has some ETH holders panic selling, whales have taken an aggressive approach. This suggests confidence in potential future price upside for Ethereum.
Recently, analysts at Standard Chartered predicted ETH could climb to $4k in 2025, although this included a revised forecast from an earlier bullish take of $10k by the end of the year.
This bullish outlook by the whales though has retail in an upbeat mood too.
Will Altseason’s Promise Hold? Bitcoin’s Resistance and Altcoins’ Anxious Wait
Analysts are currently tracking the crypto market, trying to gauge when the next “altseason” might kick off. CryptoBullet points to the typical four-year market cycle, expecting it to wrap up around October or November of 2025.
This timeline suggests altcoins could see a surge within the next eight months. However, the current market shows some hesitation, especially with Ethereum and other altcoins not exhibiting strong momentum, leading to questions about a potential delay into 2026.
Ali Martinez analyzed Bitcoin’s Altseason Indicator. He noted Bitcoin’s peak at $96,715.57 on December 10, 2024, when Bitcoin attracted $0.13 million in capital, Ethereum $0.06 million, and stablecoins $0.10 million. By March 16, 2025, Bitcoin had fallen to $82,599.04. Inflows also saw a dip, with Bitcoin receiving just $0.007 million, Ethereum $0.024 million, and stablecoins $0.020 million.
Related: Altseason Incoming? Breakout Levels for Major Altcoin Rally — Analyst
The Altseason Indicator has slid from 1 to 0.33, signaling weakening momentum. This suggests altseason might stall unless Bitcoin stages a significant recovery. Martinez cautions that if Bitcoin breaks below $80,000, it could indicate further downside. Conversely, a climb above $90,000 might reignite investor confidence.
Related: Altseason Watch: XRP, ADA, SUI Lead Price Surge Plus Five More to Watch
The total crypto market cap trended upward in mid-2024, hitting a peak above $3.6 trillion. A correction then pulled it back to $2.69 trillion. While the market is attempting a recovery, resistance levels are capping its progress.
The $2.69 trillion mark now acts as immediate support. Short-term support sits at $2.71 trillion, while a stronger demand zone lies between $2.6 trillion and $2.55 trillion. The next key resistance is at $2.74 trillion, aligning with the 50-day moving average. A more significant ceiling exists at $2.84 trillion, near the 200-day moving average.
Ethereum currently trades at $1,967.74 , down 0.86% in the last 24 hours. Avalanche is at $18.58 , a 1.22% decrease, and Solana is priced at $126.61 , having lost 3.02% over the same period. These declines reflect a broader trend of altcoins struggling for upward movement, adding to the uncertainty around a near-term altseason.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.