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$200 Billion Exits Crypto Space as Markets Plunge to Support

Crypto market capitalization is down 8% on the day, plunging below $3.1 trillion on Feb. 25 following a wipeout of almost $200 billion in 24 hours. This is the lowest markets have been since mid-November, obliterating almost all gains since Donald Trump’s election victory. Total cap is now teetering on longer-term support levels, and a fall below $3 trillion will see these levels broken and a potential end to the bull market. $1B in Liquidations Coinglass reported that more than 314,000 traders have been liquidated over the past 24 hours to the tune of almost a billion dollars. Over 90% of the liquidations were in long positions and the largest single liquidation order happened on BitMEX with $10 million worth of Bitcoin. Bitcoin dumped more than 5% in a matter of hours, falling from $96,000 to $91,000, its lowest level since mid-January. At the time of writing it appeared to have found support there and reclaimed $91,500 during the Tuesday morning Asian trading session. Ethereum lost around 10%, falling back below $2,500. However, it is showing little signs of a recovery bounce . The Altcoins have been obliterated with double-digit losses for Solana (SOL), which is now down more than 50% in a little over a month following the meme coin bubble bursting. Chainlink (LINK), Avalanche (Avax), Sui (SUI), and Hyperliquid (HYPE) were also in double-digit losses this morning. Analysts are generally unfazed, having seen this market behavior many times before. Prepare for both scenarios, well in advance. If you’re caught by this move, feeling unsure about what to do, it means you didn’t have a plan. Low $90ks is the first leg of my plan, and the air-pocket below $86k is the second. Higher eventually, have a plan for that too. — _Checkmate (@_Checkmatey_) February 25, 2025 Fear and Greed The Bitcoin Fear & Greed Index has plunged to its lowest level since September, hitting “extreme fear” at 25 on Tuesday, following neutral readings for the past week or so. On the upside, there have been several similar market meltdowns in recent months, including a 7.5% crash on Dec. 9, a 10% meltdown on Dec. 19, a 7.5% slump on Jan. 7, and an 8% dump on Feb. 2, which markets never recovered from. Macro investor Raoul Pal pointed out that these massive pullbacks have happened in previous cycles and are perfectly normal. You guys all need to learn patience… This was 2017. Very similar macro structure: 5 x 28%+ pullbacks in BTC Most lasted 2 to 3 months before a new high Alts saw 65% corrections. All were noise. Go do something else more constructive than stare at the screen. pic.twitter.com/jGyiOgKlYE — Raoul Pal (@RaoulGMI) February 24, 2025 The post $200 Billion Exits Crypto Space as Markets Plunge to Support appeared first on CryptoPotato . CoinOtag

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Groundbreaking DFSA Approval: USDC and EURC Revolutionize Dubai’s Crypto Landscape

In a significant leap for the cryptocurrency world, Dubai has solidified its position as a forward-thinking hub for digital assets. The Dubai Financial Services Authority (DFSA) has made waves by officially recognizing USDC and EURC as approved tokens within its regulatory framework. This exciting development, initially reported by Cointelegraph on X, marks a pivotal moment for stablecoin adoption and crypto innovation in the region. But what does this groundbreaking DFSA approval really mean for businesses and the future of finance in Dubai? What Does DFSA Approval of USDC and EURC Actually Mean? For those navigating the complex world of cryptocurrency regulations, clarity is paramount. The DFSA approval is not just a symbolic gesture; it’s a concrete regulatory green light. Here’s a breakdown of what this landmark decision entails: Official Recognition: USDC and EURC are now formally recognized by the DFSA as regulated tokens. This brings them under the purview of Dubai’s robust crypto regulatory framework, offering a level of legitimacy and security previously unavailable. Legitimate Use Cases: Companies operating within the Dubai International Financial Centre (DIFC) are now empowered to utilize USDC and EURC for a wide array of financial activities. These include: Payments: Streamlining transactions and enabling faster, more efficient payment systems. Treasury Management: Providing sophisticated tools for managing corporate finances in the digital age. Other Financial Purposes: Opening doors for innovative financial applications within the regulated ecosystem. First Stablecoins to Receive Status: USDC and EURC are trailblazers, becoming the first stablecoins to achieve this recognized token status from the DFSA. This sets a precedent for future stablecoin integrations and highlights Dubai’s proactive approach to embracing digital currencies. Why is Dubai’s Crypto Regulation Embracing Stablecoins Now? Dubai’s proactive stance on Dubai crypto regulation is no secret. The city has consistently positioned itself as a global leader in adopting innovative technologies, and cryptocurrency is no exception. But why are stablecoins, specifically USDC and EURC, gaining favor now? Stability and Reliability: Unlike volatile cryptocurrencies, stablecoins like USDC and EURC are pegged to fiat currencies (US Dollar and Euro respectively). This inherent stability makes them attractive for businesses seeking to utilize digital assets without the extreme price fluctuations associated with Bitcoin or Ethereum. Enhanced Business Efficiency: Stablecoins offer significant advantages for businesses, including: Faster Transactions: Crypto transactions are typically faster and more efficient than traditional banking systems, especially for international payments. Lower Fees: Reduced transaction costs compared to conventional financial intermediaries. Transparency and Traceability: Blockchain technology provides a transparent and auditable record of transactions. Attracting Global Crypto Businesses: By creating a clear and supportive regulatory environment for stablecoins, Dubai aims to attract more international crypto businesses and investment into the DIFC. Beyond USDC and EURC: What Other Cryptocurrencies Are DFSA Approved? While the spotlight is currently on USDC and EURC, it’s important to remember that the DFSA approval extends beyond just stablecoins. The regulator has already given the nod to a range of other cryptocurrencies, demonstrating a broad and inclusive approach to digital asset regulation. These approved cryptocurrencies include: Cryptocurrency Ticker Symbol Description Bitcoin BTC The original and most well-known cryptocurrency. Ethereum ETH A leading platform for decentralized applications and smart contracts. Litecoin LTC An early altcoin often referred to as the ‘silver to Bitcoin’s gold’. Toncoin TON Cryptocurrency associated with the Telegram Open Network. XRP XRP Designed for fast and low-cost international payments. ZetaChain ZETA A blockchain designed for omnichain interoperability. This diverse list showcases the DFSA’s commitment to fostering a comprehensive and dynamic crypto ecosystem within Dubai. Stablecoin Adoption: A Catalyst for Growth in DIFC Crypto? The stablecoin adoption in Dubai, spearheaded by the DFSA’s approval of USDC and EURC, is poised to be a significant catalyst for growth within the DIFC’s crypto sector. How will this impact the ecosystem? Increased Institutional Interest: Regulatory clarity around stablecoins can attract larger institutional investors who were previously hesitant due to regulatory uncertainties. Boost to Fintech Innovation: The ability to utilize stablecoins for payments and treasury management will fuel innovation in fintech applications within the DIFC. Enhanced Competitiveness: Dubai’s proactive approach to stablecoin regulation strengthens its position as a globally competitive hub for digital assets, attracting businesses and talent from around the world. Wider Crypto Ecosystem Growth: As stablecoins become more integrated into the financial system, it can contribute to the overall growth and maturity of the broader cryptocurrency ecosystem. Navigating the Future of DIFC Crypto with Stablecoins The DIFC crypto landscape is rapidly evolving, and the DFSA’s approval of USDC and EURC marks a significant step forward. While this development presents exciting opportunities, it’s crucial to consider both the benefits and potential challenges: Benefits: Regulatory Certainty: Provides a clear and regulated framework for stablecoin use. Business Efficiency: Enhances transaction speeds and reduces costs for businesses. Innovation Hub: Positions Dubai as a leading center for crypto innovation and adoption. Global Attractiveness: Attracts international crypto businesses and investment. Considerations: Ongoing Regulatory Evolution: The crypto regulatory landscape is still evolving globally, and businesses need to stay updated with any future changes. Compliance Requirements: Operating within the DFSA framework requires adherence to specific compliance standards. Market Volatility (Broader Crypto Market): While stablecoins are pegged to fiat, the broader crypto market can still experience volatility that may indirectly impact businesses. Conclusion: Dubai’s Bold Move into the Stablecoin Era The DFSA’s landmark approval of USDC and EURC is more than just a regulatory update; it’s a powerful statement of intent from Dubai. By embracing stablecoins within a clear and robust framework, Dubai is not only fostering innovation within the DIFC but also solidifying its place at the forefront of the global crypto revolution. This bold move is set to unlock new opportunities for businesses, attract further investment, and pave the way for a more efficient and inclusive financial future. The ripple effects of this revolutionary decision are likely to be felt across the global crypto landscape for years to come, inspiring other jurisdictions to consider the transformative potential of stablecoin adoption. To learn more about the latest crypto market trends, explore our article on key developments shaping Bitcoin institutional adoption. CoinOtag