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.

Huge news 🔥 @Ripple is now DFSA licensed to offer regulated crypto payments in the @DIFC bringing the speed and efficiencies of blockchain to one of the world’s biggest trade and cross-border payments hubs. A big thank you to our partners at @DIFC and the DFSA for their early