Nexo Radar

Daily Market Dispatch – March 18, 2025 For informational purposes only; not financial or investment advice. Overview The markets are navigating a complex geopolitical landscape, central bank decisions, and significant movements in both traditional and digital assets. Bitcoin has faced downward pressure but is still holding strong above $80,000, while altcoins like ETH, SOL, and XRP have slipped. In other market-moving news, U.S. spot BTC ETF inflows were the highest yesterday since early February, Magic Eden made ripples in the Ordinals space, and the Bank of Korea announced CBDC plans, highlighting how rapidly innovation is reshaping the landscape. The market is in active “wait mode” for tomorrow’s U.S. Federal Reserve decision. Bitcoin Bitcoin is experiencing a critical juncture, trading at approximately $82,700. The current price movement suggests a consolidation phase, with support levels identified around $82,000 and, based on previous market cycles, an even lower support level of $73,000. Resistance currently sits near $85,000. Monitoring open interest and leverage ratios right now is key, as a reduction in these metrics could signal the potential for a bullish uptrend.​ BTC has shown admirable resilience above $80,000 in the last week. This is supported by renewed institutional interest in Bitcoin as a viable investment asset. While significant outflows totaling $920 million from U.S. Bitcoin ETFs last week, countered ideas of a bullish climb upward, on Monday the same ETFs reported the largest daily net inflows in six weeks, totaling $274 million. If anything is for sure, it’s that this could go in many directions. As my old volleyball coach used to say right before the serve came down: “Ready for anything.”​ Altcoins Ethereum (ETH) is trading near $1,890, reflecting similar caution. The broader cryptocurrency market remains subdued, with altcoins like XRP, ADA, and DOGE experiencing declines.​ Solana (SOL) is currently priced at $124.22, dropping 3.75% intraday, as, the cryptocurrency faced backlash in response to a recent video advertisement. Perhaps softening this backlash are Solana futures which completed their first day of listing on the Chicago Mercantile Exchange (CME), marking a significant milestone in the integration of cryptocurrency assets into traditional financial markets.​ Finally, Magic Eden pulled a dark horse move yesterday, clocking a 1,200% spike in Ordinals trading. However, the momentum quickly subsided, demonstrating the NFT markets do not behave remotely like crypto at present. Macroeconomic & Institutional Developments The U.S. Federal Reserve's interest rate decision is imminent, with expectations of rates remaining steady at 4.25% to 4.5%. Meanwhile, the Organization for Economic Co-operation and Development (OECD) has revised global growth forecasts downward, citing concerns over escalating U.S. tariffs potentially hindering economic expansion and fueling inflation.​ In line with these forecasts, gold has surged to a record high above $3,000 per ounce, reflecting investor bids on safety. In contrast, equity markets have shown resilience, bolstered by hopes around upcoming economic data releases.​ Positive reinforcement is also coming from the East. The Bank of Korea is set to launch the "Hangang" central bank digital currency (CBDC) pilot next month, involving 100,000 citizens. This initiative aims to assess the CBDC's functionality in real-world scenarios, reflecting South Korea's commitment to digital financial innovation.​ On the institutional front, MetaPlanet has announced the continuation of its bond issuance program to fund additional Bitcoin acquisitions.

Daily Market Dispatch – March 17, 2025 For informational purposes only; not financial or investment advice. Overview A crucial macroeconomic week lies ahead, with major central bank meetings and economic data releases expected to shape market sentiment. Bitcoin remains resilient above $80,000 despite broader market adjustments, highlighting its relative strength as a macro hedge. Meanwhile, equities face pressure amid recession fears triggered by recent comments from the U.S. Treasury Secretary and ongoing trade tensions. The Crypto Fear & Greed Index currently sits at 32, showing improved investor confidence since Friday. Macroeconomic & Institutional Developments This week will feature pivotal economic events, notably the U.S. Federal Reserve’s interest rate decision on Wednesday, with markets anticipating no immediate change but closely monitoring forecasts for potential rate cuts. Today’s U.S. Retail Sales data revealed a modest increase of 0.2% for February, signaling a slight recovery from January’s 1.2% decline but significantly below forecasts of 0.6%. While the turnaround from the previous month's contraction is encouraging, the weaker-than-anticipated growth highlights ongoing caution among consumers amid broader global risks. This suggests that continued monitoring is needed to assess the strength and sustainability of consumer-driven economic momentum. In Europe, ECB Vice President Luis de Guindos reaffirmed confidence in declining inflation, projecting it to reach the bank's 2% target by early 2025 despite persistent core inflation concerns. China announced a comprehensive "Special Action Plan" aimed at boosting domestic consumption, stabilizing financial markets, and enhancing consumer spending power – reflecting policy urgency to sustain economic growth. Japan's Bank of Japan meets this week with economists expecting no immediate rate adjustment, though markets remain alert for hints toward potential rate hikes later this year. Nvidia’s much-anticipated GTC AI conference kicks off today, highlighting innovations in AI and semiconductor technology, potentially impacting key tech stocks and broader market sentiment. Bitcoin, Altcoins & Broader Asset Landscape Bitcoin is consolidating around $83,300, holding steady despite volatility in equity markets. BTC futures indicate cautious sentiment, trading slightly below spot prices amid uncertainty about upcoming U.S. economic releases and Wednesday's Federal Reserve meeting. Ethereum trades near $1,900, eyeing a potential breakout towards the $2,000 resistance level, mirroring Bitcoin's cautious momentum. XRP, ADA, DOGE, and TRX remain subdued near weekly lows, while BNB surged over 5%, buoyed by increased activity. Solana, marking its fifth anniversary, is poised for significant network improvements through the anticipated Firedancer release. Currently priced at $129 (+2.35%), SOL continues to attract institutional interest, notably from ETF providers including Bitwise, VanEck, 21Shares, Canary Capital, Grayscale, and most recently, Franklin Templeton—all targeting diversified crypto funds. VanEck has officially filed with the SEC for the first-ever Avalanche (AVAX) ETF, highlighting ongoing institutional engagement despite recent market adjustments. AVAX trades cautiously amid this heightened visibility. Looking Ahead Markets will closely watch central bank signals and key economic indicators throughout this week, with investor sentiment likely shaped by data from the U.S., Europe, and China. Crypto markets could remain cautiously resilient, with Bitcoin’s performance increasingly decoupled from equities as macro uncertainty persists. Stella Zlatareva, Nexo Dispatch editor

This week’s macro data spans U.S. retail sales, Eurozone sentiment, and Japan’s policy shifts – but all eyes are on the Fed’s key update. 🇺🇸 U.S. Retail Sales MoM & YoY – March 17, 12:30 UTC 🇪🇺 Eurozone ZEW Economic Sentiment – March 18, 10:00 UTC 🇯🇵 Japan Interest Rate Decision – March 19, 03:00 UTC 🇪🇺 Eurozone Consumer Price Index MoM & YoY – March 19, 10:00 UTC 🇺🇸 Fed Interest Rate Decision – March 19, 18:00 UTC 🇺🇸 Initial Jobless Claims – March 20, 12:30 UTC

Success is built on strong values – and so is our community. Big thanks to everyone who joined our giveaway during Acapulco Tennis Open. Congratulations to our winners: @Lovush_A and @FJackBounder We’ve announced the rest of the winners on X & Reddit.

Additionally, in the next week, key data releases could influence crypto market sentiment. U.S. retail sales will provide a crucial read on consumer strength, impacting risk appetite. The Atlanta Fed’s GDPNow estimate will offer a real-time view of economic momentum, while the EU’s ZEW economic sentiment and CPI figures will shape expectations around inflation and financial conditions in Europe. Meanwhile, the Bank of Japan’s interest rate decision could introduce shifts in global liquidity flows. Stella Zlatareva, Nexo Dispatch editor

Daily Market Dispatch – March 14, 2025 For informational purposes only; not financial or investment advice. Overview The crypto market is in a consolidation phase, shaped by macroeconomic developments, regulatory shifts, and evolving investor sentiment. Bitcoin’s movement below key technical levels, mirroring the S&P 500’s trajectory, highlights the market’s cautious tone as traders await key economic data for direction, including U.S. retail sales and the FOMC meeting. At the same time, gold’s surge to nearly $3,000 per ounce highlights its appeal as an asset during periods of uncertainty, drawing investor interest amid shifting market conditions. However, history has shown that Bitcoin thrives when risk appetite returns, consistently emerging stronger with its high growth potential and rising institutional adoption. If past trends hold, Bitcoin’s current consolidation could set the stage for its next major move as market conditions evolve. Bitcoin Over the past 24 hours, Bitcoin (BTC) has experienced a modest price increase, currently trading above $83,000. The price movement suggests a potential consolidation phase as investors assess market conditions and upcoming economic indicators. A potential turnaround is emerging, supported by growing stablecoin liquidity and historical indicators pointing toward a rebound. The market capitalization of Tether (USDT) has grown by $5.75 billion over the past 60 days, an indicator that has previously preceded BTC price increases. Additionally, on-chain data shows a broader expansion in the stablecoin market, further strengthening Bitcoin’s outlook. ETH and Altcoins Ethereum maintains its position above $1,850, showing relative strength despite recent volatility. A rebound earlier this week reflects continued demand for DeFi platforms and excitement around upcoming network upgrades. The Ethereum team is preparing for the ‘Hoodi’ testnet launch, which will pave the way for the anticipated Pectra upgrade, set to enhance scalability and efficiency. Among altcoins, XRP is trading at $2.30, up 2.72%, benefiting from reports that the SEC is considering classifying XRP as a commodity in settlement discussions, which could further open the door for institutional involvement. Dogecoin (DOGE) has risen 0.74% to $0.1696, supported by social media interest and speculative trading momentum. Macroeconomic Landscape Yesterday’s U.S. Producer Price Index (PPI) remained unchanged, defying forecasts of a 0.3% increase. Meanwhile, initial jobless claims dropped to 220,000, below the expected 226,000, signaling cooling inflationary pressures. This data strengthens the case for the Federal Reserve to consider rate cuts, which could inject fresh liquidity into markets. All eyes are now on Wednesday’s FOMC meeting, where updated projections and Powell’s comments will shape monetary policy expectations. Institutional Signals Institutional sentiment remains strong, with major investors accumulating 65,000 BTC over the past month, reflecting confidence in Bitcoin’s long-term potential. Regulatory momentum is also building, as the Senate Banking Committee’s approval of the GENIUS Act signals progress in stablecoin regulation, potentially increasing institutional adoption. Looking Аhead Key economic indicators in the U.S., Europe, and Japan will help shape market expectations. All eyes are set on next Wednesday's FOMC meeting, anticipating insights into U.S. monetary policy and potential interest rate adjustments, especially given the recent declines in U.S. PPI and initial jobless claims figures, which point towards a slowing economy.

Daily Market Dispatch – March 13, 2025 For informational purposes only; not financial or investment advice. Overview Thursday marked the fifth anniversary of the COVID pandemic, a milestone that reminds us of the global economy’s resilience amid unprecedented challenges over the past half-decade. Digital assets and stocks regained footing amid softer-than-expected inflation data and persistent economic uncertainty. The crypto market’s capitalization has stabilized above $2.7 trillion, with renewed confidence in Bitcoin – its dominance now at 61%, the highest since March 2021. February’s CPI rose 0.2% MoM and 2.8% YoY, while Thursday’s PPI data showed a 0.3% rise in goods offset by a 0.2% decline in services, leading to 3.2% annual inflation. These figures have raised hopes for potential Fed rate cuts. However, escalating trade tensions – including increased tariffs on Chinese, Canadian, and Mexican imports, and retaliatory measures from Canada and the EU – continue to temper sentiment. Bitcoin, Altcoins & Broader Asset Landscape Bitcoin’s performance has shown varying trends. After an early rally that pushed the asset above $84,000 on Wednesday, BTC has now settled around $83,000. The softer CPI print is viewed as a bullish signal, as potential Fed rate cuts could inject liquidity into the market and support Bitcoin’s longer-term outlook. In contrast, altcoins have experienced more subdued momentum. Ether (ETH) has remained largely flat, trading near $1,900, and the ETH/BTC ratio has slipped to levels last seen in May 2020. Meanwhile, XRP has bucked the trend, climbing 3% above $2.30 following reports that the SEC is nearing a resolution in its lawsuit against Ripple. The anticipated settlement, focused on securing more favorable terms related to an earlier ruling, has boosted investor sentiment. Gold remains resilient amid mounting macroeconomic concerns. The softer CPI data has reinforced expectations of multiple Fed rate cuts this year, while rising trade tensions have driven safe-haven demand. The commodity is currently trading near $2,950, just shy of its all-time high of $2,956 set in February. The Fed’s perceived easing trajectory, coupled with geopolitical uncertainty, continues to fuel its three-day winning streak. Institutional Signals Institutional activity remains a key force shaping the market. Ripple has secured a DFSA license to offer regulated crypto payments in the UAE, marking a regional milestone and expanding its Middle East presence. Meanwhile, Franklin Templeton has filed for a Solana-based ETF through the Cboe BZX Exchange, driving SOL prices up 1.5% over the past 24 hours. At the same time, Bitcoin spot ETFs recorded a modest net inflow of $13.3 million – reversing their recent outflow trend – while Ethereum ETFs experienced outflows of $10 million, reflecting a measured institutional response to shifting economic conditions and policy developments. Looking Ahead February's PPI came in pleasantly subdued, with modest price pressures in goods offset by easing service costs. This reading echoes yesterday's softer inflation signals and bolsters optimism that consumer purchasing power strengthens. If inflation continues to slow down alongside a resilient labor market, expectations for gradual Fed rate cuts – potentially as early as June and as much as 100bps in total for 2025 – could solidify, providing a tailwind for digital assets. Additionally, an upcoming meeting between U.S. trade officials and Canadian representatives on the United States-Mexico-Canada Agreement (USMCA) renewal may offer further clarity on ongoing disputes. As these factors evolve, market volatility remains a key theme across both traditional and digital asset markets. Iliya Kalchev, Nexo Dispatch analyst For further insights into this week’s market trends and evolving macro, regulatory, and institutional signals, please check out our Weekly Market Dispatch.

We've expanded our offering to include even more Futures contracts with up to 20x and 50x leverage. Trade smarter and amplify your moves – open the Nexo app and enjoy increased flexibility in your trades.

Daily Market Dispatch – March 11, 2025 For informational purposes only; not financial or investment advice. Overview Equities and digital assets are recalibrating amid evolving macro trends and shifting liquidity conditions. Following an initial selloff in Asia, U.S. tech stocks recorded noticeable declines, which resonated across crypto markets. Yet market sentiment is gradually regaining confidence as Bitcoin adjusted to key support levels before rebounding, while altcoins exhibited similar tactical shifts. Institutional signals – such as subdued ETF flows and cautious futures pricing – indicate a measured risk appetite, even as macro developments like updated trade policies and anticipated inflation data loom large. This recovery is further underscored by the Crypto Fear & Greed Index’s recent uptick from 20 to 24. Bitcoin, Altcoins & Broader Asset Landscape BTC is currently trading in the high $81,000 range. Technical analysis suggests Bitcoin is adjusting to new support levels, with near-term resistance around $85,000 and critical support emerging near $80,000. The recent price action appears closely linked to shifts in U.S. policy – especially President Trump’s Strategic Bitcoin Reserve executive order, which, despite its high-profile announcement has yet to serve as a strong catalyst. Additionally, Bitcoin futures are trading below spot, reflecting ongoing caution ahead of key economic data to be released later this week. Ether has bounced above $1,900 after intra-day lows, while XRP and Solana show similar recalibrations amid ETF outflows. Additionally, VanEck’s registration of an Avalanche ETF in the US highlights growing institutional interest. On a broader level, global liquidity trends also play a pivotal role; a weakening US dollar (index near 104) and expanding M2 liquidity support digital assets, and an overstretched Japanese yen may soon reverse, potentially easing pressure on risk assets such as Nasdaq and Bitcoin. Policy moves remain a key driver of current market dynamics. The recent selloff in U.S. equities has been partly attributed to heightened concerns over trade disruptions – spurred by warnings of a “little disturbance” in auto parts trade with Canada, Mexico, and China – as well as rising recession odds, with JPMorgan now estimating a 40% chance of a U.S. recession this year. At the same time, the U.S. is preparing to release key inflation data which could significantly influence Fed policy and risk appetite in the near term. Institutional Signals Institutional investors continue to tread cautiously. ETF flows into crypto funds have remained subdued, and the discount seen in short-term Bitcoin futures suggests that risk management remains a priority. In parallel, broader market sentiment has been impacted by declines in tech stocks. Meanwhile, Deutsche Boerse’s Clearstream is set to offer custody services for Bitcoin and Ether to institutional clients next month, signaling that traditional financial institutions are increasingly embracing digital assets amid evolving regulatory frameworks. Looking Ahead Market participants now await several key events that could provide fresh direction. US JOLTS data is expected today, while the Consumer Price Index (CPI) report on March 12 and Producer Price Index (PPI) data on March 13 will be pivotal in shaping Fed policy expectations. As these catalysts unfold, traders and investors will be closely monitoring whether current risk-off sentiment begins to ease, potentially paving the way for stabilization or even a modest rebound in both equities and digital assets. by Stella Zlatareva, Nexo Dispatch editor For further insights into this week’s market trends and evolving macro, regulatory, and institutional signals, please check out our Weekly Market Dispatch.

Regulatory & Institutional Developments On the institutional track, the crypto + AI narrative is heating up like a budding romance, with Kava making the first move by unveiling the largest decentralized AI model. Much like an ambitious suitor trying to impress, blockchain is flirting with AI’s potential, signaling growing institutional and developer interest in this hybrid relationship. Unlike the short-term sentiment for crypto markets, institutions are circling crypto with hawk-eyed interest with VC firms – including Andreessen Horowitz (a16z), Pantera Capital, and Paradigm – closely monitoring Trump’s evolving stance on Bitcoin reserves. In regulatory news, Spain’s Banco Bilbao Vizcaya Argentaria (BBVA) bank has received approval to offer BTC and ETH trading, a promising sign for institutional adoption in Europe. Looking Ahead Bitcoin’s key level to watch is $80,000 – a break below could reinforce bearish momentum. The March 12 U.S. CPI data will dictate short-term macro direction, with inflation readings likely to influence Fed policy expectations. Institutional signals remain mixed, with continued long-term BTC accumulation countering by short-term selling pressure. Stella Zlatareva, Nexo Dispatch Editor

Daily Market Dispatch – March 10, 2025 For informational purposes only; not financial or investment advice. Market Overview Crypto markets are moving in lockstep with equities, with Bitcoin and altcoins tracking the S&P 500 lower, reinforcing their tightening correlation with traditional risk assets. With key U.S. data releases this week – CPI (Wednesday) and PPI (Thursday) – midweek volatility could be expected as markets also reassess Fed expectations and Japan’s Q4 GDP data. Meanwhile, Trump’s pro-crypto stance has drawn institutional interest, but the lack of concrete policy details leaves markets in wait-and-see mode. With altcoins down 10%, risk appetite appears stalled. Until a new bullish regulatory catalyst emerges, crypto is likely to remain tightly correlated with equities. Bitcoin BTC is trading at $82,000, reflecting a broader risk-off move. Near-term resistance sits at $85,000, with $80,000 emerging as a key support level. A break below this could reinforce the bearish pressure, with traders focusing on BTC’s 200-day moving average as a possible downside target. This trend is reflected in spot Bitcoin ETFs which saw a week of outflows, bringing the four-week total to over $4.5 billion. Between March 3-5, nearly $800 million exited the funds, following $2.6 billion in redemptions the previous week. The trend continued with daily outflows, peaking at just over $400 million on Friday to reflect ongoing market adjustments. Despite the pullback, institutional interest in Bitcoin remains steady. Michael Saylor shared a $100 trillion crypto strategy at a White House summit, emphasizing long-term accumulation and BTC’s role as a macro hedge. Meanwhile, El Salvador has continued accumulating BTC, now holding 6,100 BTC. Altcoins Ethereum (ETH) has found support around $2,000 despite potential delays in the Pectra upgrade weighing on sentiment. ETH’s 20% decline last week pushed its price below the key $2,200 trendline that had supported its bull market recovery since 2022. The modest price action may be attributed, as with Bitcoin to ETFS. This week was marked by outflows from U.S. spot ETH ETFs. These funds saw a net outflow of nearly $120 million, indicating investor redemptions. Last week began on March 3 with a $12.10 million outflow, briefly offset by a $14.58 million inflow on March 4. However, subsequent days witnessed increased withdrawals, with outflows of tens of millions each day until March 7, resulting in a significant cumulative adjustment. Altcoins are experiencing broad-based declines, with DOGE, ADA, and XRP down over 10%, as the Fear & Greed Index hit its lowest reading in three years. Selling pressure appears to be driven by liquidity drying up across altcoin markets, with on-chain activity for these assets at its lowest since mid-2023. Macroeconomic Markets are adjusting to Jerome Powell’s wait-and-see Friday statement, where he indicated the Federal Reserve is holding off rate changes until there is greater clarity on Trump’s economic policies also contributes to the pause in active bullish sentiment. The upcoming U.S. CPI report on March 12 will be pivotal in shaping expectations around Fed policy and markets are unlikely to make any leaps before Wednesday. Other key events with a tight hold on markets this week include: Japan’s Q4 GDP data due later today, and Christine Lagarde’s speech at the ECB coupled with U.S. CPI data on March 12. Beyond the immediate macro landscape, the U.S. Department of Housing is assessing crypto and blockchain solutions for financial infrastructure, a notable shift in government adoption of decentralized technologies.

This week, key inflation indicators, GDP figures, and central bank insights are set to shape global market dynamics and investor sentiment: 🇯🇵 Japan Gross Domestic Product QoQ (Q4) – March 10, 23:50 UTC 🇺🇸 U.S. JOLTS Job Openings – March 11, 14:00 UTC 🇪🇺 European Central Bank President Lagarde Speaks – March 12, 08:45 UTC 🇺🇸 U.S. Consumer Price Index MoM & YoY (Feb) – March 12, 12:30 UTC 🇺🇸 U.S. Producer Price Index MoM & YoY (Feb) – March 13, 12:30 UTC

Today, all attention is on the White House Crypto Summit, set to kick off at 1:30 pm ET (18:30 UTC). Bitcoin’s imminent price trajectory remains bolstered by growing regulatory clarity and increased institutional engagement, underscoring its long-term relevance. However, short-term movements will be heavily influenced by macroeconomic factors. Next week, all eyes will turn to key U.S. economic events – including the Consumer Price Index, which is expected to signal a slowdown in inflation, and the job openings report which will serve as a key indicator of labor market strength and the potential for interest rate cuts. Internationally, investors will scrutinize Japan’s quarterly GDP and Germany’s inflation figures, while persistent crypto reserve rhetoric adds another twist to the digital asset narrative. Iliya Kalchev, Nexo Dispatch Analyst

Daily Market Dispatch – March 7, 2025 For informational purposes only; not financial or investment advice. Overview The cryptocurrency market is entering a transformative phase today following President Donald Trump’s executive order to establish a Strategic Bitcoin Reserve and Digital Asset Stockpile, signaling a shift in U.S. financial strategy. While the immediate market reaction reflects traders adjusting to the news, the long-term outlook remains positioned for expansion. Additionally, macroeconomic factors such as postponed tariff adjustments and ongoing interest rate developments are influencing market sentiment. Today, the White House Crypto Summit is set to take place, bringing together policymakers, crypto industry leaders, and institutional investors to discuss the future of digital assets in the U.S. economy. The event will focus on providing regulatory clarity and outlining the government's stance on cryptocurrency adoption. A key topic of discussion will be the Strategic Bitcoin Reserve and Digital Asset Stockpile, highlighting crypto’s potential role as a sovereign reserve asset class. Bitcoin BTC/USD is currently stabilizing around $90,000, with traders assessing the implications of the announced U.S. strategic reserve. The initiative removes $17 billion in potential selling pressure, supporting Bitcoin’s long-term scarcity and value proposition. Key Levels: BTC is currently trading around $90,576 after reaching a high of $91,404. While it has shown strong momentum, a slight pullback indicates ongoing market caution. Market Sentiment (↑ 9 Points): Investors are closely watching macroeconomic catalysts, including the postponed 25% tariffs on Mexican and Canadian imports, which have raised questions about stagflation. Additionally, regulatory developments and the potential for increased institutional adoption following the U.S. government's move remain key factors shaping market sentiment. This shift is further evidenced by the change in the Fear & Greed Index, which has risen from just 25 to 34 today, reflecting a notable improvement in investor confidence. Etherem Ethereum is currently trading above $2,200. Ethereum’s underlying adoption and institutional interest continue to provide strong long-term support. This commitment is evidenced by large holders who have accumulated approximately 1.1 million ETH over the past 48 hours. Macroeconomic Drivers Recent policy adjustments in Washington continue to shape market sentiment. President Trump’s decision to revise certain tariffs has provided greater clarity for global markets, while investors keep a close watch on economic indicators amid balanced expectations for future U.S. interest rate adjustments. In the labor market, February’s job growth of 151,000 fell short of forecasts, and ongoing government restructuring has resulted in approximately 10,000 federal job layoffs. Notably, the healthcare sector defied broader economic headwinds by adding 52,000 jobs, underscoring persistent demand for medical professionals. Looking Ahead Today, all attention is on the White House Crypto Summit, set to kick off at 1:30 pm ET (18:30 UTC). Bitcoin’s imminent price trajectory remains bolstered by growing regulatory clarity and increased institutional engagement, underscoring its long-term relevance. However, short-term movements will be heavily influenced by macroeconomic factors. Next week, all eyes will turn to key U.S. economic events – including the Consumer Price Index, which is expected to signal a slowdown in inflation, and the job openings report which will serve as a key indicator of labor market strength and the potential for interest rate cuts. Internationally, investors will scrutinize Japan’s quarterly GDP and Germany’s inflation figures, while persistent crypto reserve rhetoric adds another twist to the digital asset narrative. Iliya Kalchev, Nexo Dispatch аnalyst

Daily Market Dispatch – Mar 06, 2025 For informational purposes only; not financial or investment advice. Overview The question on many traders’ minds today is whether a lot of global news has already been priced in. Markets offered a partial answer as Bitcoin easily surged past $90,000, accompanied by a broader rally in risk assets after President Trump delayed auto tariffs on Canada and Mexico. Major equity indexes also moved higher on the news – the S&P 500 gained roughly 1.2%, while the Nasdaq advanced about 1.5% – reflecting improved sentiment. Meanwhile, the U.S. dollar index slid to its lowest level since early November, potentially boosting crypto prices further. Bitcoin & Altcoins Bitcoin leads market sentiment, trading just above $90,000. Swissblock’s Bitcoin Fundamental Index hints that fundamentals are entering a bullish quadrant. Meanwhile, Ethereum shows a potential double top pattern that may trigger a short‑term correction if momentum fades, while its network improvements, i.e. the upcoming Pectra upgrade, support a solid long‑term outlook. XRP is rallying, reflecting robust demand from both speculative traders and long‑term investors, while Solana is up 3%, fueled by renewed venture capital interest and competitive dynamics in the broader crypto market. Other cryptocurrencies also posted notable gains, including BCH (11.5%), ONDO (14.5%), and APT (9%), reflecting a broad-based upswing across digital assets. Regulatory, Macro & Broader Asset Landscape • Trump’s tariff delay: The White House’s decision to put auto tariffs on hold – along with Germany’s move to loosen debt limits and China’s commitment to ramp up fiscal and monetary stimulus – bolstered risk appetite on Wednesday, evidenced by the Fear & Greed index rising from just 10 last Thursday to 25 today. • ECB rate outlook: The European Central Bank is widely expected to lower rates by 25 basis points today, a move that could provide additional support for equities and crypto alike. Updated ECB staff forecasts are due, though any near-term impact on tariffs or defense spending is unlikely to appear until policies are enacted. • China’s stimulus: China pledged to boost consumption and offset trade war effects through fresh monetary and fiscal measures. Historically, such stimulus has contributed to bullish trends in crypto markets by increasing global liquidity. • Upcoming U.S. data: Friday brings the U.S. Unemployment Rate (Feb) and a speech from Fed Chair Powell, both of which could reshape expectations about interest rates and overall risk sentiment. Institutional Signals Deribit options pricing indicates traders anticipate heightened volatility ahead of Friday’s Trump White House Crypto Summit, with Bitcoin potentially swinging by $5,000 in either direction. Implied volatility has risen across BTC, ETH, and SOL options, reflecting market uncertainty around the summit’s outcome. Looking Ahead • The White House Crypto Summit (Friday): A major catalyst for crypto sentiment, with high-profile attendees expected. Options traders are bracing for weekend price swings, underscoring the event’s potential impact. • Liquidity tailwinds for Bitcoin: Recent analysis shows that a rising global M2 money supply – historically linked to upward moves in Bitcoin – could reach new all‑time highs within the next three weeks. As central banks continue expanding their balance sheets, increased liquidity in global markets appears to be creating a supportive backdrop for Bitcoin as a compelling alternative amid excess liquidity. While market momentum leans positive, it remains to be seen if current optimism fully accounts for lingering trade tensions and macro headwinds. With China’s new stimulus measures, ECB policy decisions, and the White House Crypto Summit converging, the next few days could clarify how resilient the market fundamentals are. Stella Zlatareva, Nexo Dispatch editor

Convert Small Balances into NEXO Tokens Tidy up your portfolio with ease – convert small balances under $10 into NEXO Tokens in just a few taps: ▪️ Tap the new conversion icon in your Wallet tab ▪️ Select the assets to convert ▪️ Confirm and get NEXO in seconds Enjoy a cleaner, more efficient portfolio – now available in the latest app version.

Daily Market Dispatch – Mar 05, 2025 For informational purposes only; not financial or investment advice. Overview A broader shift in market sentiment helped Wednesday’s crypto markets stage a rebound, with the Fear & Greed Index stabilizing toward neutral and leading cryptocurrencies (BTC, ETH, XRP, SOL) gaining between 5% and 8%. This overall optimism comes as investors digest potential easing in tariff policies following President Trump’s recent address to Congress. Bitcoin rebounded as dip buyers pushed its price from around $83,000 to above $88,000. XRP also made notable gains, surging to $2.50, while Ethereum’s performance was buoyed by positive progress on its highly anticipated Pectra upgrade and a turn-around to inflows in ETHETFs. Regulatory, Macro & Broader Asset Landscape The U.S. tariffs – a 20% duty on Chinese goods and 25% tariffs on imports from Canada and Mexico – weighed in on markets on Tuesday as they came into effect, leading to declines in crypto and equities, and unnerving investors. However, long-term optimism won over short-term unease after U.S. Commerce Secretary Howard Lutnick indicated that a deal to reduce tariffs on Canada and Mexico could be announced as early as Wednesday. Lutnick hinted that President Trump might be open to meeting the trading partners "in the middle," a prospect that appears to have contributed to Wednesday’s uptick. Amid this backdrop, questions remain – especially regarding the Trump administration’s plans for a national Crypto Reserve that would include Bitcoin, Ether, and three other major cryptos. Any concrete action could be a major catalyst for the crypto market, shaping investor sentiment and driving momentum through clearer regulations and potential government-backed adoption. On the macroeconomic front, key releases scheduled for Wednesday – namely, the ADP Nonfarm Employment Change and the S&P Global Services PMI for February – are being closely watched as early indicators of what might come next. These data points are expected to offer further insights into economic moderation in line with the Fed’s desired soft landing, while also providing signals on whether interest rate cuts might be expected in 2025 – a growing possibility as President Trump has repeatedly stressed his determination to bring interest rates down. Institutional Signals Institutional activity helps counter short-term volatility. ETF flows reflect shifting sentiment: on March 4, Bitcoin Spot ETFs saw a net outflow of $144 million – almost twice that of the previous day – while Ethereum Spot ETFs reversed an eight-day outflow with a net inflow of $15 million. XRP’s robust performance, which has helped boost its market cap, further illustrates the balance between speculative trading and long-term positioning. Looking Ahead Market participants now face a delicate balancing act. On one side, trade policy uncertainty keeps sentiment guarded, while on the other, easing Treasury yields and the increased likelihood of Fed rate cuts suggest a potential turnaround. As traders adjust to these evolving conditions, the current consolidation phase could pave the way for a broader rebound across both crypto and traditional asset classes. In the digital assets sector, Ethereum’s highly anticipated Pectra upgrade emerges as a key development in anticipation. After a successful deployment on the Sepolia test network – following a setback on the Holesky testnet – developers are set to convene on March 6 to discuss the mainnet release timeline. With the upgrade promising enhancements in staking, wallet functionality, and overall network efficiency, its successful implementation may serve as a catalyst for renewed altcoin momentum. Iliya Kalchev, Nexo Dispatch analyst

Dual Investment now supports USDC. Enjoy even more flexibility when executing Buy Low and Sell High strategies on BTC, ETH, XRP, SOL, or BNB – now with USDC as a stablecoin option. Earn high yields while waiting for your strategy to play out: Dual Investment on Nexo

Daily Market Dispatch – March 4, 2025 For informational purposes only; not financial or investment advice. Market Overview Right now, the market appears to be taking a pause after the rapid movements of the weekend and Monday. The U.S. tariffs on Mexico, Canada, and China have taken effect, reshaping capital flows. Meanwhile, Bitcoin, along with ETH, SOL, ADA, and the majority of cryptos, is consolidating after initial sharp upward movements spurred by the announcement of a U.S. Crypto Reserve on March 2. The balance between geopolitical forces and institutional positioning remains in focus. Bitcoin Bitcoin (BTC) is trading at $83,500, bouncing back from resistance near $95,000, driven by optimism from the U.S. Crypto Reserve announcement. With BTC shedding $250 billion in market cap over 48 hours, the new key level to watch today is $85,000, which would confirm a shift in short-term momentum. A failure to reclaim this level could see further declines toward $80,000. Nevertheless, fluctuations like these have occasionally been observed in past crypto bull markets, where temporary pullbacks, even up to 25%, have perhaps not always indicated a sustained downturn. In such environments, lending and borrowing become crucial mechanisms, enabling investors to hedge positions, manage liquidity, and capitalize on market volatility without necessitating asset liquidation.​ Institutional flows appear mixed: While MetaPlanet has acquired 156 BTC, Bitcoin spot ETFs experienced $3.3 billion in outflows last week, but recovered slightly, pulling in $94.3 million on Friday, February 28. This divergence highlights an apparent tug-of-war between long-term accumulation strategies vs. short-term risk management among key market players. Altcoins Ethereum (ETH) is trading at $2,000, following BTC’s movement. Despite their large gains upon the news of the U.S. Crypto Reserve, Solana (SOL), XRP, and Cardano (ADA) have also retreated over 10%, mirroring broader market de-risking and macro-induced sentiment. Macroeconomic, Regulatory & Institutional Developments The U.S.-China trade tensions are escalating, with China responding to new U.S. tariffs of 10-15%.Investors appear to be swerving toward risk-averse asset classes with gold prices climbing 10% YTD. Other more positive signs for the crypto space include, the SEC dropping multiple lawsuits against crypto firms, including Coinbase, reflecting a potential regulatory thaw. Simultaneously, the S&P 500 is under renewed selling pressure, with tech stocks notably underperforming. Even Nvidia ($NVDA) remains under pressure despite record quarterly revenue of $39.3 billion. On the flipside, TSMC has committed $100 billion toward U.S. chip manufacturing expansion, aiming to create 20,000 jobs and reduce reliance on China. Meanwhile, Tether has appointed a new CFO as it moves toward a full financial audit, reinforcing confidence in stablecoin transparency; and Grayscale is expanding its ETF offerings with a 19b-4 filing with Nasdaq for a Hedera (HBAR) ETF, suggesting increasing institutional interest in alternative assets. Looking Ahead BTC must reclaim $85,000 to sustain upward momentum; a weekly close above $94,000 would signal long-term bullish sentiment and potential for a new all-time high. Otherwise, pressure toward $80,000 and under is likely. Macroeconomic releases remain crucial, with Wednesday’s U.S. CPI data likely to shape expectations for rate policy and risk asset positioning. Institutional sentiment is at an inflection point, as outflows from crypto funds contrast with on-chain accumulation. Traders should monitor technical breakpoints and institutional flows to assess near-term trends. Stella Zlatareva, Nexo Dispatch Editor