Crypto Market Sees Signs of Recovery Amid Series of New Initiatives
March 3, 2025 — 14:00 UTC
In today’s blockchain and cryptocurrency news, a wave of optimism has swept through the crypto market, which has turned “green” after a period of fluctuating values. As the global cryptocurrency market capitalization surged by 6.1% in just 24 hours, it has risen above the significant $3 trillion threshold, currently standing at approximately $3.17 trillion.
Market Highlights
At the time of this report, the daily trading volume in the crypto space has reached a notable $256 billion, significantly higher than the recent average of $120 billion to $180 billion. Among the top 100 cryptocurrencies by market capitalization, only seven showed losses today. Celestia (TIA) faced the largest decline with a 7.5% drop, trading at $3.87, followed closely by Maker (MKR), which fell by 7.4% to a price of $1,512. In stark contrast, Cardano (ADA) has emerged as the standout gainer, skyrocketing by an incredible 54% to reach $1.01. Other notable gainers include XRP, which rose by 20% to $2.70, while Solana (SOL) saw a respectable increase of 17.5%, trading at $166. Among the top ten cryptocurrencies, all are currently in the green, with Bitcoin (BTC) up 9.4% at $93,504 and Ethereum (ETH) climbing by 7.7% to settle at $2,377. ### Wirex Expands Stablecoin Payments to the U.S.
In a significant development, crypto financial services provider Wirex has announced the expansion of its stablecoin payment platform to the United States. This move comes through a strategic partnership with Bridge, a stablecoin orchestration platform.
Wirex Pay will enable US residents to make stablecoin payments directly from non-custodial wallets via both cards and bank transfers. This partnership facilitates real-time, automatic swaps between fiat currencies and stablecoins, enhancing the speed and transparency of transactions. The initiative aims to provide a seamless and self-custodial way for users to transact with stablecoins in over 200 countries and 80 million merchants worldwide, emphasizing user autonomy over funds without relying on third-party custodians.
Bybit Launches Half-Million USDT Crypto Challenge
In another exciting announcement, cryptocurrency exchange Bybit has introduced a derivatives trading challenge featuring Tether (USDT) with an enticing prize pool of 500,000 USDT. Open to advanced traders throughout March, participants will receive bonuses proportional to their accrued trading volume, regardless of performance.
Joan Han, the Sales and Marketing Director at Bybit, expressed that this inclusive challenge aims to demonstrate USDT’s vital role in unlocking sophisticated trading opportunities traditionally reserved for conventional finance, providing participants with the chance to earn additional rewards while navigating the derivatives trading landscape.
Bitget Launches Global Builders Initiative
Additionally, Bitget has unveiled a global initiative aimed at nurturing talent and innovation within the cryptocurrency space through its new Builders Program. The exchange’s upgraded VIP referral system allows current VIP users to invite friends, granting newcomers a complimentary 30-day trial pass to VIP benefits.
Participants in the initiative can also partake in a giveaway offering $300 worth of BGB tokens as a reward. Furthermore, select top builders will gain exclusive opportunities to engage directly with Bitget’s team during the upcoming Token2049 crypto conference in Dubai, working toward shaping the future of the industry.
Conclusion
As the cryptocurrency market stabilizes, these developments from Wirex, Bybit, and Bitget illustrate a growing trend of innovation and user engagement within the blockchain realm. The future looks promising as more companies enable users to harness the benefits of cryptocurrencies effectively and securely.
For ongoing updates and news in the cryptocurrency sector, be sure to bookmark this page and subscribe to our newsletter.
Share this article:
