Bloomberg Analyst: Tokenization Won't Replace ETFs, Instead ETFs Will Go Global on the Blockchain

On March 9th, per Whale Alert data, Circle minted 100 million USDC on the Ethereum network at 22:27 Beijing time.

March 9th: Per LookOnChain monitoring, a whale address opened a 20x leveraged long position on xyz:CL (crude oil) via Hyperliquid. The $3.2 million position has an entry price of $101.79 and a liquidation price of $98.87.

On March 9th, Coinglass data shows that even as Bitcoin surged above $69,000 today, current funding rates across major centralized (CEX) and decentralized (DEX) exchanges still point to a predominantly bearish market. Funding rates for key mainstream coins are detailed in the accompanying chart. BlockBeats Note: Funding rates are fees set by crypto exchanges to keep contract prices aligned with the underlying asset’s spot price, typically used for perpetual contracts. This is a mechanism for fund transfers between long and short traders—exchanges do not collect these fees. It adjusts the cost or profit for traders holding positions to ensure contract prices closely track the underlying asset. A 0.01% funding rate serves as the baseline. Rates above 0.01% signal a generally bullish market, while rates below 0.005% indicate a predominantly bearish market.

On March 9, France’s finance minister said the country is ready to tap strategic oil reserves to stabilize markets. G7 finance ministers are prepared to take all necessary measures, though there’s still no consensus on releasing strategic reserves. Following the announcement, WTI and Brent crude prices rallied short-term and are currently trading at $103.6/bbl and $101.8/bbl, respectively. (FX678)

March 9 — Per Bitget market data, spot gold has dropped over $20 in short order, last seen trading at $5,074.71 per ounce.