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The SEC, that watchdog of the crypto markets that sometimes gives us cold sweats. But this time, it has decided to put away its whistle and offer us a breath of fresh air. On March 20, 2025, in a (almost) historic statement, the Securities and Exchange Commission clarified a point that many miners were waiting for like the thaw of spring: NO, Proof-of-Work (PoW) mining does not constitute a securities offering! Let’s quickly revisit what PoW is: it’s a mechanism that makes our computers sweat to secure networks like Bitcoin or Dogecoin, which seems undervalued . We solve equations, consume a little (a lot) of electricity, and in return, we earn cryptos. But until now, a gray area loomed: does mining equate to issuing a security? Spoiler alert: the SEC says no. Phew. This clarification is a bit like the SEC just lifted a misplaced “danger” sign. The regulator specifies that when miners, solo or in a pool, validate blocks and automatically receive rewards, they are not within the framework of the Securities Act of 1933. In simple terms: as long as there’s no expectation of profit based on the efforts of others, everything is fine. Let me tell you that the ecosystem welcomed this statement with applause. This position protects PoW actors from a paralyzing legal gray area and shines a spotlight on a practice sometimes wrongly accused of all ills. Even the somewhat dusty cryptos from digging up the digital ground are regaining their colors. But let’s not cry victory too soon: the SEC did not say “total laissez-faire.” Crypto platforms, ICOs, and some slightly border DAOs remain in the crosshairs. But for PoW miners, the sky is clearing. We move forward, perhaps stumbling, but with fewer stones in our shoes. The SEC has been doing surprising things lately, and could even abandon a major regulation on crypto platforms. This clarification on PoWs brings hope and offers more perspectives. Miners can therefore pick up their digital shovel with a smile. Moral of the story? Mining is not a crime. It’s just a job… that gets a bit hot.

$BTC We've tagged a premium FVG in this range, swept the prior day high and now we're on the retrace. Into an area where the bulls need to hold if we are to see further upside. A daily close below the green line would likely mean we're looking at a re-test of range low ~

While Bitcoin aims for $200,000 by the end of 2025, XRP is emerging as a strong contender for institutional investment. Both cryptocurrencies are vying for dominance, each with unique strengths. Analysis from Scott Melker’s firm suggests Bitcoin’s growing financial sector role gives it an edge. However, XRP’s focus on real-world payment solutions presents a compelling alternative for institutions. Despite sustainability debates, XRP’s recent price surge shows market interest, and its unique capabilities could attract institutional investment, challenging Bitcoin’s current lead. Bitcoin’s acceptance as a strategic reserve asset grows globally. Yet, XRP focuses on efficient, low-cost cross-border payments, a limited area for Bitcoin. While XRP’s valuation faces skepticism, its practical financial application is significant for institutions. Bitcoin’s role as a store of value contrasts with XRP’s focus on swift, low-cost transactions via the Ripple network, offering a compelling option beyond just holding digital assets. Related: Bitcoin Speculative Trading Loses Steam: Is Trump’s Crypto Push to Blame? Blockchain is primarily a settlement ledger, highlighting Bitcoin’s institutional appeal. XRP uses the XRP Ledger for rapid, inexpensive transactions. This difference could sway institutions prioritizing payment processing over secure settlement. XRP’s real-world payment utility offers a tangible advantage over Bitcoin’s store-of-value narrative. Bitcoin’s 15-year history without downtime provides a strong foundation of credibility, a factor highly valued by financial professionals. However, XRP, backed by Ripple, has been actively forging partnerships with financial institutions worldwide, demonstrating its potential to disrupt traditional payment systems. While Bitcoin’s reliability is a plus, XRP’s proactive approach to real-world integration presents a significant competitive advantage. Related: Ripple CTO David Schwartz Explains Why Bitcoin Lost Its Transactional Edge Industry leaders like Michael Saylor have been influential in driving institutional adoption of Bitcoin. Conversely, Ripple has focused on building direct relationships with financial institutions, showcasing XRP’s capabilities for improving payment infrastructure. While Bitcoin benefits from vocal advocates, XRP’s tangible partnerships offer a concrete path to institutional integration and potential challenge to Bitcoin’s dominance. Bitcoin’s value proposition as a trustless settlement system is compelling, but XRP’s strength lies in its ability to operate as a fast and cost-effective payment network, minimizing reliance on traditional banking intermediaries for transactions. As central banks consider digital currencies, XRP’s established payment infrastructure could position it as a strong contender against Bitcoin’s store-of-value focus. Bitcoin’s current market trends show bullish potential, but XRP has also demonstrated resilience and maintained its position as a significant player. While Bitcoin’s market dominance is clear, XRP’s focus on specific use cases and its potential for adoption by financial institutions could lead to significant growth and a stronger competitive stance against Bitcoin . Bitcoin’s price action correlates with NASDAQ, indicating its growing integration with traditional financial markets. However, XRP’s value proposition is less tied to traditional market sentiment and more focused on its utility in facilitating global payments. This real-world application could make XRP a more attractive option for institutions looking for practical solutions rather than just speculative assets. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

The euphoria of the February peaks has evaporated. Bitcoin, after having brushed against 109,000 dollars, is now fluctuating around 82,000 dollars, revealing a reality more complex than it seems. According to the latest report from Glassnode, authored by researchers Cryptovizart and Ukuria OC, the market is facing an unprecedented liquidity crisis, coupled with a growing divide among investors. A contrasting picture that raises questions: is Bitcoin at a critical turning point or simply in a phase of consolidation? Bitcoin is going through a period of financial drought. The Realized Cap, a key indicator measuring the capital actually invested, is only increasing by 0.67% per month. This stagnation betrays the absence of fresh capital flows, essential for supporting prices. On-chain trades and derivative markets reflect this asphyxiation: inflows onto platforms have dropped by 54% since the end of February, while the “Hot Supply” — those bitcoins held for less than a week, a symbol of frantic speculation — has halved to barely 2.8% of the circulating supply. The open interest on futures contracts has decreased by 35%, a sign of a retreat from hedging and arbitrage strategies. Institutions, in particular, are unwinding their “cash and carry” positions — combining spot ETFs and shorts on futures contracts — causing massive closures (378 million dollars on the CME) and outflows from ETFs. “The unwinding of these trades intensifies the pressure on prices,” emphasizes Glassnode . The options tell the same story: put premiums are rising, while the Delta Skew (25) confirms that bearish protections are favored by investors. Institutional traders, in particular, seem to be barricading themselves, anticipating persistent volatility. The current correction in Bitcoin is widening a gap between two categories of actors. Short-term holders (STH), caught in the turmoil, see their unrealized losses reaching cyclical record levels: 7 billion dollars since February. An alarming figure, but still lower than that of the capitulations of 2021-2022. “These investors are under intense psychological pressure, oscillating between hope and panic,” analyze Cryptovizart and Ukuria OC. On the opposite side, long-term holders (LTH) are biding their time. Their selling activity is slowing, even if some have seized the opportunity to secure profits around 80,000 dollars. “Their partial withdrawal from the market reflects a defensive strategy, but not a flight,” the report specifies. With 40% of Bitcoin’s total wealth in their hands, LTH are sitting on a sword of Damocles: a massive sell-off could flood the market. This duality sketches a paradoxical landscape. On one side, STH, mired in historical losses, embody the fragility of the retail market. On the other side, LTH, silent guardians, seem to be returning to a logic of patient accumulation. “Their relative inertia acts as a stabilizer, limiting panic sales,” notes Glassnode. Bitcoin is navigating in a gray area, torn between institutional caution and the distress of small holders. The stagnant liquidity and high volatility could persist as long as incoming flows remain timid. However, there remains a glimmer of hope: if institutional ETFs manage to offset outflows, the network could regain balance.

Swiss National Bank Governor Martin Schlegel reaffirmed the central bank’s position against incorporating Bitcoin or other digital assets into its foreign exchange reserves. Schlegel expressed concerns to Bloomberg regarding Bitcoin’s ( BTC ) high volatility, instability, and the regulatory challenges associated with cryptocurrencies. These factors were cited as the main reasons for his position. He highlighted that the Swiss National Bank’s reserves are meant to support monetary policy, and he noted that digital assets do not align with this goal. This position is consistent with Schlegel’s earlier remarks . In a November 2024 event, he expressed caution regarding cryptocurrencies like Bitcoin and Ethereum ( ETH ), labeling them as niche phenomena unsuitable for payment purposes due to significant value fluctuations. He also highlighted concerns about the high energy consumption required for cryptocurrency operations and their association with illegal activities, making them difficult to regulate. Despite the SNB’s reluctance to adopt digital assets, Switzerland continues to be a hub for blockchain innovation. Recently, the Swiss subsidiary of the Stuttgart Stock Exchange, BX Digital, received approval from the Swiss Financial Market Supervisory Authority to operate a blockchain-based trading system. This platform enables direct settlement and transfer of assets using Ethereum-based blockchain technology, eliminating intermediaries and reducing transaction times and costs. Nexo also just expanded its Nexo Card to Switzerland and Andorra on Feb. 11 as part of its 2025 Growth Plan. The card, which combines debit and credit functions, reached a 62% adoption rate among eligible users in the European Economic Area.