Logan Paul’s USD 16.5M card sale, Europe’s push for euro stablecoins and CBDC, and 13.5% RWA growth highlight expanding digital asset and tokenization infrastructure. Bitcoin and Ethereum are currently undergoing a typical phase of leverage rebalancing and liquidity repricing, with price movements driven more by derivatives positioning adjustments than by spot demand alone. BTC continues to fluctuate around key liquidation zones, where derivatives data indicates that a drop below $65,102 could trigger approximately USD 968 million in long liquidations, while a breakout above $71,852 may lead to roughly USD 920 million in short liquidations. This concentration of leveraged positions around major liquidity clusters increases the likelihood that price action will be driven by liquidation mechanics, resulting in repeated tests of both support and resistance levels. At the same time, markets have begun incorporating the potential long-term implications of quantum computing on Bitcoin’s cryptographic security into valuation frameworks. Approximately 4 million BTC with exposed public keys could theoretically reenter circulation under future technological breakthroughs, prompting some institutional participants to reassess Bitcoin’s long-term scarcity premium and reduce leverage exposure. This structural risk has not resulted in immediate selling pressure, but instead manifests as more conservative capital allocation and structural risk discounting, reinforcing a market environment driven by liquidity redistribution rather than directional inflows.

Ethereum reflects a dual-track structure characterized by ongoing spot accumulation alongside derivatives-driven leverage compression, indicating that different segments of capital are adjusting positions simultaneously. Onchain data shows that accumulation addresses added more than 2.5 million ETH in February, bringing total holdings to approximately 26.7 million ETH, while over 30% of circulating supply is currently staked, reducing immediate liquid supply and reflecting continued long-term positioning. However, derivatives positioning remains concentrated, with liquidation data showing that a decline below $1,886 could trigger approximately USD 745 million in long liquidations, while a move above $2,082 may result in roughly USD 581 million in short liquidations. Liquidation heatmaps further indicate more than USD 2 billion in short positions clustered above $2,200, alongside approximately USD 563 million in long liquidations near $1,909, highlighting an environment defined by leverage compression and liquidity testing. ETH price action continues to reflect a structural process of leverage redistribution combined with spot accumulation, reinforcing a range-bound market structure driven by positioning adjustments rather than trend-driven capital expansion.

Key News Highlights:

Logan Paul Sells Pokémon Card for USD 16.5 Million, Renewing Attention on NFT Fractional Ownership Controversy

YouTuber Logan Paul recently sold a rare Pikachu Illustrator Pokémon card for approximately USD 16.5 million, setting a new record for the most expensive trading card sale in history. The card is one of only 39 issued through a competition in the 1990s and was ultimately purchased by AJ Scaramucci, the son of financier Anthony Scaramucci. Paul originally acquired the card in 2021 for around USD 5.3 million and is estimated to have generated approximately USD 8 million in profit after auction fees. The transaction has also renewed attention on his previous NFT fractionalization initiative, where partial ownership of the card was tokenized through Liquid Marketplace in 2022, allowing investors to purchase fractional exposure to the asset. The platform later went offline, leaving some investors temporarily unable to access their funds and triggering regulatory scrutiny and legal proceedings. Paul stated that the platform shutdown was beyond his control and that he later helped restore access to allow withdrawals. The sale occurred amid a broader contraction in the NFT market, where total market capitalization declined from approximately USD 3.2 billion to USD 1.55 billion, highlighting ongoing structural divergence between physical collectible assets and tokenized digital ownership models.

German Central Bank President Supports Euro Stablecoins and CBDC Development to Strengthen European Payment Sovereignty

Bundesbank President Joachim Nagel stated that Europe is actively advancing the development of euro-denominated stablecoins and a central bank digital currency to strengthen its independence within global digital payment infrastructure. He emphasized that euro stablecoins could provide lower-cost cross-border payment options for both individuals and businesses while reducing reliance on US dollar-denominated stablecoin systems. Nagel also highlighted that a wholesale CBDC would enable financial institutions to conduct programmable payments directly in central bank money, potentially improving efficiency and transforming settlement infrastructure. His remarks come amid ongoing global regulatory developments around stablecoins, with major economies accelerating efforts to establish their own digital currency frameworks. He also warned that excessive dominance of US dollar stablecoins could weaken Europe’s monetary sovereignty and policy autonomy. European authorities continue to advance both retail CBDC and stablecoin initiatives, reflecting a broader transition toward integrating blockchain technology into national and regional financial infrastructure.

Onchain RWAs Grow 13.5% in 30 Days as Institutions Expand Blockchain-Based Asset Issuance

The total value of onchain RWAs increased by 13.5% over the past 30 days, demonstrating continued capital inflows despite broader cryptocurrency market volatility. Ethereum led growth with approximately USD 1.7 billion in newly tokenized asset value, followed by USD 880 million on Arbitrum and USD 530 million on Solana, reinforcing the role of public blockchains as infrastructure for issuing and managing traditional financial assets. These tokenized instruments include government bonds, private credit, and other yield-bearing products, enabling issuance, transfer, and settlement directly onchain. At the same time, the number of wallet addresses holding tokenized assets has increased, reflecting expanding market participation. Asset managers have also begun tokenizing money market funds and Treasury instruments, allowing them to be used for onchain collateral and financial transactions. The continued expansion of tokenized asset markets highlights blockchain’s growing role as a foundational layer for financial asset issuance, settlement, and institutional capital deployment.

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