Industry Reports

Gate News reported that as of March 17, according to Dune data, Pump.fun's Meme token graduation rate for last week (March 9-March 15) rose to 2.01%, marking a new high since July 2025. Meanwhile, since the final week of February, Pump.fun's weekly Meme coin graduation rate has rebounded to above 1%.

The Ethereum Foundation published a new charter on March 17, clarifying its role as a neutral coordinator committed to maintaining decentralized infrastructure and promoting the long-term development of the ecosystem. The announcement has sparked extensive discussions about leadership and institutionalization, with some industry insiders questioning the lack of specific implementation plans, while supporters believe it will help preserve network neutrality and foster innovation, highlighting Ethereum's balancing act between decentralized governance and institutional development.

Citibank's analysis report indicates that, drawing on the experience of mainland payment institutions, Hong Kong's stablecoin market could reach $16 billion, with further upside potential driven by monetary growth and offshore demand. The Hong Kong Monetary Authority will announce the first batch of stablecoin issuance licenses.

Gate News reports that on March 17, according to monitoring, Alibaba is advancing an internal plan to provide employees with token allowances to encourage the use of AI models and tools in their work. Employees can freely use previously paid AI tools such as the Wukong and Qoder series, covering technical research and development as well as general office scenarios. Additionally, employees can apply for company reimbursement when purchasing Bailian Coding Plan memberships or external AI development tools.

Cango announced its 2025 financial results with total revenue of $688 million, generating 6,594.6 bitcoins, Q4 revenue of $179 million, and net loss of $622 million. The company disposed of 4,451 bitcoins to reduce liabilities and completed a $10.5 million capital increase and a $65 million new financing agreement.

Gate News: On March 17, data aggregation platform DefiLlama launched a new download center supporting rapid export of 50+ datasets. Users can download complete datasets and time series data, accessing multi-dimensional data across chains, protocols, categories, RWA, stablecoins, and more. It supports custom column functionality and allows dataset preview before subscription.

Well-known cryptocurrency broker BlockFills suspended customer withdrawals in February due to the cryptocurrency market crash and filed for Chapter 11 reorganization with the Delaware bankruptcy court. The company's liabilities range between $100 million and $500 million, with major creditors including SBI VC Trade and Nexo Capital. BlockFills hopes to preserve enterprise value and enhance stakeholder returns through supervised reorganization.

Gate News reported that on March 17, VanEck, an asset management institution, posted on the X platform stating that the first truly practical use case for the metaverse may be remote team building for AI agents.

Prominent cryptocurrency market research platform Messari announced CEO Eric Turner's resignation, with Chief Technology Officer Diran Li taking over. The company is conducting layoffs to accelerate its transformation into an AI-first research platform. The layoffs accompany leadership changes aimed at focusing on serving institutional clients. The market continues to monitor Messari's future performance as it transitions to AI-driven services.

According to the latest data from Santiment, several privacy-focused crypto projects, including Chainlink, Aztec, and Dash, are leading in development activity, indicative of long-term commitment and technological progress.

Hyperliquid, as a leading Perp DEX, is rapidly rising and attracting whale players, with massive trading volume and users exceeding 1.729 million. However, facing the rapid development of on-chain finance, compliance and regulatory challenges are becoming increasingly prominent. Hyperliquid has established a policy center to address these issues and seek legitimate status in mainstream finance.

Nvidia released the Groq 3 LPU chip on March 17, with shipments expected in Q3. The chip can be used in conjunction with Vera Rubin NVL72 to significantly enhance inference throughput. The company also showcased the next-generation architecture Kyber, expected to launch in 2027.

Gate News reports that on March 17, OpenAI executives are finalizing a major strategic transformation plan to reduce side businesses, shift the company's focus toward programming and enterprise users, and concentrate fully on core operations.

Hong Kong regulators received 36 stablecoin license applications but plan to approve only a few issuers. HSBC and Standard Chartered are expected among the first licensed HKD stablecoin issuers. The licensing framework builds on a sandbox program launched in 2024 to test stablecoin

Renowned investor Stanley Druckenmiller recently stated that stablecoins will become the core of the global payment system in the future, predicting that they will dominate financial markets within 10 to 15 years. The stablecoin market cap has surpassed $315 billion, demonstrating accelerated institutional adoption. Following the passage of the U.S. "GENIUS Act," which provides a regulatory framework for stablecoins, they are advancing toward mainstream financial infrastructure, while Hong Kong is also preparing to issue licenses. Druckenmiller remains cautious about the overall cryptocurrency market but believes stablecoins have practical use value.

Wall Street's Bernstein report views MicroStrategy as the "last Bitcoin central bank," noting that its coin hoarding and innovative financing structures have significantly reshaped the Bitcoin market, reducing reliance on retail investors. Institutions now hold 14% of Bitcoin supply, enhancing the capital base and market resilience. Additionally, MicroStrategy has further strengthened its Bitcoin buying power through financing products designed to attract yield-focused investors.

President Trump's comments have profound impacts on the stock market. Taiwan entrepreneur TK Lin launched the "Trump Code" project, which utilizes big data and machine learning to analyze the correlations between his tweets and market movements, successfully establishing an effective trading signal system. The current accuracy rate is 61.3%, with the project open-sourced on GitHub and supporting integration with trading bots.

The DeFi market entered an "interest rate winter" since September 2025, with deposit rates for major stablecoins declining sharply and supply-demand imbalances causing liquidity congestion. The rate decline reflects reduced capital demand and a lack of high-return opportunities. Stablecoin lending demand has dropped significantly, with market risk appetite shifting toward more stable investment channels. In response to this situation, the Sky protocol demonstrates competitiveness and adaptability by introducing real-world assets to enhance yields. The low interest rates during this phase can be viewed as an opportunity for DeFi market transformation.

DeFi lending protocols in the cryptocurrency sector have experienced a sharp decline, with the total market value decreasing by approximately 45 billion USD since October last year. According to data from Artemis, the total amount of deposits on these platforms has decreased by 36%, from a peak of 125 billion USD in October to just 79 billion USD.

The crypto market is recovering, with a market cap of $2.52T and a 3.23% increase. Bitcoin and Ethereum rose by 3.20% and 7.28%, respectively. Other gains include D ($D) at 728.37%. DeFi TVL and NFT sales also increased, while the Australian Senate supports a crypto regulatory framework.