Tyler and Cameron Winklevoss, founders of crypto exchange Gemini, are big fans of bitcoin (Marco Bello/Getty Images)

Gemini’s soaring bitcoin display sets record, but bitcoin itself stays flat

Bitcoin’s price remains tepid, but companies keep adding it to their stockpiles.

3/14/25 10:48AM

Bitcoin’s price had a brief bump, thanks to a softer-than-expected CPI report, but it wasn’t enough to boost it much and didn’t last long. Bitcoin’s started the week at about $83,000 on Monday, March 10, and ended the week… around $83,000 as of Friday morning.

One thing that might help bitcoin’s price going into the weekend: today, Representative Byron Donalds is set to introduce legislation that would make President Trump’s executive order to establish a national strategic bitcoin reserve permanent. Bloomberg reported that the bill would “ensure that the reserve and stockpile could not be eliminated by executive action from a future president,” as executive orders are not legislation and can be reversed.

Despite bitcoin’s price staying flat, the Winklevoss twins wanted to display their love for the asset in a high-flying, record-setting way: their crypto exchange, Gemini, set a new Guinness World Record yesterday, with a 20-minute “bitcoin-themed light show” featuring 1,000 drones. The record? “The largest aerial display of a currency symbol formed by multi-rotor/drones.” They have the certificate to prove it.

LIVE: Largest Bitcoin in the Sky - Guinness World Record 🚀 https://t.co/EB8eaGccZE
— Gemini (@Gemini) March 14, 2025

Meanwhile, companies continued to add bitcoin to their reserves this week:

Japanese company Metaplanet added 162 bitcoin and now holds 3,050 bitcoin in its reserve.
Video-sharing platform Rumble added 188 bitcoin to its reserve, saying that the “move further emphasizes Rumble’s conviction in bitcoin as a valuable tool for strategic planning and reinforces the company’s expansion into cryptocurrency.”
“Wet trades” company Ming Shing said its wholly owned Hong Kong subsidiary, Lead Benefit, acquired 333 bitcoin, bringing its total to 833.

Bucking the trend, Hive decreased its bitcoin holdings. The tech company said on March 10 that it sold “a portion of its BTC to invest in capital assets, including Bitfarms’ 200 megawatt (‘MW’) hydro-powered bitcoin mining assets in Paraguay.”

Hive now holds 2,620 bitcoin, down from 2,805.

Sage D. Young7h

Altcoin trading activity has lost its mojo

Non-bitcoin cryptocurrencies have seen their trading volume plummet in the past five months. The combined trading volume of ethereum, XRP, solana, dogecoin, SUI, and chainlink has decreased by 60% since crypto’s October 10 liquidation event, according to Thomas Probst, a research analyst at crypto markets data provider Kaiko.

Main Altcoins Trading Volume in USD — The trading volume of ETH, SOL, XRP, DOGE, SUI, and LINK.

For all altcoins, spot trading volume on Binance has declined between 80% and 85% to $7.7 billion, while altcoin volume on other exchanges has dropped to $18.8 billion, down from a range of $63 billion to $91 billion in October, a Friday report from Decrypt found, citing data from CryptoQuant.

“This trend may be explained by a contraction in market liquidity over the same period,” Probst told Sherwood News. “This phenomenon is also reflected in the average 1% market depth, which stood at approximately $2.6 million before the October 10 crash and is now closer to $1.7 million when aggregated across ETH, XRP, SOL, SUI, and LINK.”

Market depth is used by investors and traders to gauge the scale of liquidity in a market. 1% market depth refers to the amount of liquidity needed to move the market by 1%.

CoinGlass’s Altcoin Season Index, a measure to assess the performance of non-bitcoin cryptocurrencies, has been sitting above 50 this week, suggesting that the current market is neither in a bitcoin dominant phase nor an altcoin season.

“Triple witching” day may put further pressure on bitcoin’s price

This is not “a favorable environment for risk assets.”

Yaël Bizouati-Kennedy9h

Sage D. Young

3/19/26

Hyperliquid is the “1,000 pound gorilla in the room” leading year-to-date market gains amid conflict in the Middle East

While the crypto industry has shed $564.3 billion in 2026, Hyperliquid’s native token has bucked the downtrend and jumped 54.8% year to date.

Yaël Bizouati-Kennedy

3/19/26

Bitcoin tumbles as oil and gas prices spike and the market’s mood turns risk-off

Bitcoin ETFs reverted to outflows and bitcoin suffered $192 million in liquidations in the past 24 hours.

Sage D. Young3/18/26

Payward, parent company of crypto exchange Kraken, puts plans for IPO on hold

Payward, crypto exchange Kraken’s parent company, has paused its plans for an initial public offering until market conditions improve, according to a report from CoinDesk that cited two people with knowledge of the matter.

Since the firm announced in November its preparation for an IPO of its common stock, the total market capitalization of the crypto industry has shed around $652.2 billion, from $3.2 trillion to $2.5 trillion as of Wednesday, data from CoinGecko shows.

The news comes two weeks after Kraken received approval for a master account from the Federal Reserve Bank of Kansas City, allowing the crypto exchange to connect to the Fed’s payment infrastructure used by traditional banks and credit unions.

Last year, Kraken raised $800 million at a $20 billion valuation from institutional investors such as Jane Street and Citadel Securities.

Payward, parent of crypto exchange Kraken, has put its IPO plans on hold