Abstract

• Bitcoin price dropped by 1.75% to $81,631, while Ethereum price declined by 1.79% to $1,803.
• The number of Solana addresses holding more than 0.1 SOL exceeded 11.12 million, reaching an all-time high.
• Uniswap v4’s cumulative trading volume surpassed $2.7 billion.
• Vitalik released the Ethereum L2 security roadmap.
• Daily crypto trading volume has plummeted nearly 70% since the U.S. election.
• Global regulatory pressure is easing, with 47 countries having relaxed crypto regulations since 2020.

Market Analysis

• BTC — Bitcoin’s price fell by 1.75% over the past 24 hours, currently sitting at $81,631 as of 12:00 PM (UTC+8). Overall, BTC remains in a downtrend with weak short-term performance, hovering near the key support level of $81,500. Since the recent peak, the price has been consistently declining and is constrained by a descending trendline. Each rebound has been capped at lower highs, indicating strong bearish pressure in the market. [1]

• ETH — ETH price dropped by 1.79% over the past 24 hours, currently at $1,803 as of 12:00 PM (UTC+8). Recently, ETH has been oscillating within a downward channel, with multiple rebound attempts failing at the upper boundary—indicating that bears remain in control. It is currently seeking support around $1,780; if this level fails to hold, further downside risk may emerge. [2]

• ETF — According to data from SoSoValue, U.S. spot Bitcoin ETFs saw a total net outflow of $93.16 million on March 28[3], while U.S. spot Ethereum ETFs recorded a net inflow of $4.68 million. Data as of 12:00 PM (UTC+8) on March 31. [4]
• Altcoins — Altcoins have shown weak overall performance recently, with widespread pullbacks across most sectors in the past 24 hours. There is a lack of significant capital inflows, indicating cautious market sentiment. In the short term, altcoins are still under pressure. The relatively resilient sectors include Bitcoin Sidechains, Bridge-Tokens, and Pump.fun Ecosystem, which rose by 3.2%, 2.7%, and 2.2% respectively. [5]
• U.S. Stock Market Indices — On March 28, the S&P 500 fell by 1.97%, the Dow Jones dropped by 1.69%, and the Nasdaq declined by 2.70%. [6]
• Spot Gold — Spot gold price reached $3,106 per ounce, up 0.74% on the day. Data as of 12:00 PM (UTC+8) on March 31. [7]
• Fear & Greed Index — The Fear & Greed Index is at 34, indicating a state of fear in the market. [8]

Top Performers

According to Gate.io market data[9], the top-performing altcoins over the past 24 hours, based on trading volume and price movement, are as follows:

ALCH (Alchemist AI) — Up approximately 11.59% in the past day, with a circulating market cap of $56.5 million.

Alchemist AI is a no-code development platform powered by artificial intelligence. Through natural language prompts, users can generate fully functional software applications. The platform integrates NLP, code generation, web frameworks, and OS APIs to convert text into executable programs—lowering the technical barrier for both developers and non-technical users.

On March 29, the Alchemist AI app launched on the Google Play Store, expanding user accessibility and its potential user base.The rollout boosted investor confidence in the project’s growth prospects, driving ALCH token price higher. [10]

REZ (Renzo) — Gained approximately 30.85% over the past day, with a circulating market cap of $39.63 million.

Renzo is a liquid restaking protocol built on Ethereum that integrates with EigenLayer to offer restaking rewards. Users can stake ETH and receive ezETH, a tradable asset that maintains liquidity while earning yield. The protocol features built-in strategies to optimize returns.

The recent price rally of REZ is largely driven by technical and ecosystem developments. These include native low-gas ezETH minting on Arbitrum and integrations with DeFi platforms like Compound and SparkLend. Such expansions enhance its utility in lending, collateralization, and yield farming, boosting visibility and market traction.

MOZ (Lumoz) — Rose approximately 14.98% in the last 24 hours, with a circulating market cap of $14.5 million.

Lumoz is a decentralized ZK-RaaS (Zero-Knowledge Rollup-as-a-Service) platform aimed at simplifying and accelerating the deployment of rollup-based blockchain solutions while also supporting AI workloads. It introduces a ZK-PoW (Zero-Knowledge Proof-of-Work) mechanism to incentivize miners to provide ZKP computing power, addressing performance and decentralization challenges in ZK-Rollups.

Recent developments include an esMOZ token airdrop campaign in partnership with UXLINK, which boosted user engagement and demand. Additionally, Lumoz announced a collaboration with Epal Labs to integrate decentralized AI and ZK tech, opening up new possibilities for AI-powered blockchain gaming. These moves have strengthened market sentiment and helped lift MOZ prices.

Data Highlights

Solana On-Chain Active Users Continue to Hit Record Highs, Addresses Holding Over 0.1 SOL Surpass 11.12 Million

As of March 30, the number of addresses on the Solana network holding more than 0.1 SOL has surpassed 11.12 million, reaching an all-time high. Unlike simple address count metrics, this figure offers a more realistic view of active user participation, suggesting that a growing number of users are maintaining a certain level of capital allocation on Solana.

Despite a broader cooldown in the crypto market—with lower trading volumes and reduced volatility—Solana’s base network continues its steady growth. The increasing number of qualifying addresses indicates that some users are holding onto their assets even during market consolidation, showing sustained confidence in Solana’s long-term potential. As the network continues to demonstrate strong performance and cost-efficiency, its improving fundamentals are laying a solid foundation for future ecosystem activity and a potential market sentiment rebound. [11]

Uniswap v4 Cumulative Trading Volume Surpasses $2.7 Billion

As of March 30, Uniswap v4 has exceeded $2.7 billion in total trading volume since its launch on January 30, reflecting strong traction under its new architecture. Most of the trading activity comes from four networks: Ethereum mainnet, Arbitrum, Base, and BNB Chain—highlighting the effectiveness of Uniswap’s multi-chain deployment strategy.

Uniswap v4 introduces a more flexible hooks system along with optimizations in gas efficiency and liquidity management, attracting a wide range of developers and professional liquidity providers (LPs) to participate in deployment and testing. Layer 2 networks like Base and Arbitrum, with their high-performance capabilities, have provided strong support for v4’s transaction volume and enhanced its scalability across chains.

However, due to the slower rollout of v4, Uniswap v3 remains the dominant version for now. Its continued deployment across networks such as Arbitrum and Polygon has helped improve performance and user experience, reinforcing Uniswap’s leadership in the DEX space. In the short term, v3 is expected to remain the backbone of core trading operations, ensuring stable ecosystem functionality while paving the way for v4 adoption. [12][13]

Crypto Daily Trading Volume Plummets Nearly 70% Since U.S. Election, Market Cap Drops Over 30%

After the U.S. election, the crypto market experienced a strong rebound, with daily trading volume briefly soaring to around $126 billion as investor optimism surged in response to reduced political uncertainty and the prospect of favorable policy shifts. However, as the hype faded, current daily volume has dropped sharply to approximately $35 billion—a nearly 70% decline—bringing it back to pre-election levels.

In parallel, the total cryptocurrency market capitalization has also contracted significantly, falling from a peak of around $3.9 trillion to the current level of approximately $2.7 trillion. This $1.2 trillion reduction represents a 30% decline, indicating notable capital outflows and weakening investor confidence.

The simultaneous decline in both trading volume and market cap reflects a widespread shift in investor sentiment following the post-election rally. Many participants have chosen to take profits, while overall risk appetite has diminished. With the Federal Reserve’s policy direction still uncertain, capital remains in a wait-and-see mode, leading to a more cautious market atmosphere as participants look for clearer signals to drive the next major move. [14]

Spotlight Analysis

Vitalik Unveils Ethereum L2 Security Roadmap Focused on Scalability, Proof Mechanisms, and Unification

On March 29, Ethereum co-founder Vitalik Buterin released “A Simple L2 Security and Finalization Roadmap”, outlining three key directions for improving the security and finality of Ethereum Layer 2 networks. The goal is to help the Ethereum ecosystem scale more efficiently while reducing trust assumptions.

The upcoming Pectra upgrade will expand Blob storage, and the Fusaka upgrade later this year will further boost capacity. Meanwhile, advances in ZK-EVM technology are significantly reducing finality times. Looking ahead, the roadmap focuses on further expanding Blob space, introducing hybrid proof mechanisms, and building a unified ZK proof aggregation layer. The aim is to enhance performance and security while reducing reliance on a single tech path and cutting gas costs.

This roadmap provides clear guidance for scaling and trust-minimizing Ethereum L2s. As demand for on-chain transactions and cross-chain interactions grows, solutions like Blob scaling and unified proof systems will be critical for improving user experience and accelerating ecosystem maturity. With infrastructure improving, L2s are poised to enter a new phase of high throughput and low latency. [15]

Global Crypto Regulation Eases as 47 Countries Loosen Policies Since 2020

Since 2020, global cryptocurrency regulations have undergone notable shifts. Data shows that 47 countries have proactively eased or simplified crypto-related policies in areas such as trading, holding, tax reporting, ICO issuance, and mining. This reflects a growing global willingness to embrace the emerging asset class. In contrast, only four countries have moved to tighten restrictions during the same period, with some implementing outright bans on crypto trading and mining. This stark contrast underscores the broader trend toward openness, inclusivity, and compliance.

Looser regulations not only affect capital flow but also influence industry structure and tech development. The growing regulatory flexibility suggests that traditional finance and the crypto ecosystem are moving toward deeper integration. It also opens up more space for Web3 startups, crypto financial services, and on-chain applications. While a handful of countries remain cautious, the mainstream trend is shifting toward conditional acceptance—a move that could strengthen market confidence and attract more institutional players. [16]

Four.Meme to Migrate to PancakeSwap V2

On March 30, memecoin launchpad Four.Meme announced an upcoming platform upgrade scheduled for March 31 (exact time TBD), which will involve migrating liquidity to PancakeSwap V2. Notably, the team also stated that all newly launched tokens will have their liquidity pools (LP) burned immediately after launch.

This move signals a shift in Four.Meme’s liquidity management strategy, aiming to enhance transparency and reducing the risk of price manipulation by project teams. The LP burn mechanism is designed to foster greater community trust in the fairness and decentralization of token launches.

Amid cautious market sentiment and increasing demand for project transparency and security, this LP burn model may strengthen Four.Meme’s credibility in the meme sector. It could also help ease concerns about short-term pump-and-dump behavior and attract holders with a longer-term outlook. With PancakeSwap V2 gaining traction and liquidity advantages, the migration could lay a stronger foundation for Four.Meme’s future development. [17]

Airdrop Opportunity

Shape Network

Shape Network is a culture-driven Ethereum Layer 2 blockchain designed to empower creators to turn digital art, collectibles, and experimental works into permanently preserved NFTs, while building their own digital legacy within a decentralized ecosystem. By simplifying the minting process and offering on-chain support, Shape Network aims to establish a long-term, sustainable cultural space for creators. [18]

The SHAPE token is used to reward active participants and ensure creators receive recognition and ongoing compensation. Shape Network is currently running a large-scale SHAPE token airdrop campaign. Users can qualify by minting “Stacks,” earning badges to build on-chain reputation, and inviting friends. The airdrop accounts for 10% of the total token supply.

How to Participate:

1. Visit the official Shape Network website and connect your Ethereum wallet.
2. Mint a Shape Stack.
3. Follow Shape Network’s official social channels and join the community to complete tasks and earn badges.

Note:
Airdrop details and participation methods may change at any time. Users are advised to stay updated via Shape Network’s official channels. Please exercise caution and conduct thorough research before participating. Gate.io does not guarantee the future distribution of airdrop rewards.


Reference:

1. Gate.io,https://www.gate.io/trade/BTC_USDT
2. Gate.io,https://www.gate.io/trade/ETH_USDT
3. SoSoValue,https://sosovalue.xyz/assets/etf/us-btc-spot
4. SoSoValue,https://sosovalue.xyz/assets/etf/us-eth-spot
5. CoinGecko,https://www.coingecko.com/en/categories
6. Investing,https://investing.com/indices/usa-indices
7. Investing,https://investing.com/currencies/xau-usd
8. Gate.io,https://www.gate.io/bigdata
9. Gate.io,https://www.gate.io/price
10. X,https://x.com/alchemistAIapp/status/1905703388014313812
11. Glassnode,https://studio.glassnode.com/charts/addresses.NonZeroCount?a=SOL&chartStyle=line&mScl=lin&pScl=lin
12. X,https://x.com/Uniswap/status/1905634254249144738
13. Dune,https://dune.com/uniswap_fnd/v4-launch-metrics-tracker
14. The Block,https://www.theblock.co/data/crypto-markets/spot/total-exchange-volume-daily
15. X,https://x.com/VitalikButerin/status/1905733092662505586
16. X,https://x.com/Cointelegraph/status/1906512011002777657
17. X,https://x.com/fourmeme/status/1906200891092586611
18. Shape Network,https://shape.network/
19. Shape Network, https://shape.network/

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