Real-world asset (RWA) tokenization company Securitize has selected RedStone as the primary oracle provider for its tokenized products, which include BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL) and the Apollo Diversified Credit Securitize Fund (ACRED).

According to a March 12 announcement, RedStone will deliver price feeds for current and future tokenized products offered by Securitize. As a DeFi-focused oracle provider, RedStone will purportedly expand the use cases of BUIDL and ACRED into money market exchanges and collateralized DeFi platforms, Securitize said.

RedStone provides crosschain data feeds for decentralized finance protocols on Ethereum, Avalanche and Polygon. According to DefiLlama data, it has amassed $4.3 billion in total value secured across all clients. 

In July, RedStone raised $15 million in a Series A funding round led by Arrington Capital, with additional participation from Spartan, IOSG Ventures, HTX Ventures and others. 

Securitize selected RedStone as its oracle provider because of its “modular design,” which means it “can scale to thousands of chains and support new implementations in a matter of days,” RedStone chief operating officer Marcin Kazmierczak told Cointelegraph in a written statement.

By using the RedStone oracle price feeds, Securitize’s funds “can now be utilized across DeFi protocols such as Morpho, Compound or Spark,” he said.

Related: BlackRock CEO wants SEC to ‘rapidly approve’ tokenization of bonds, stocks: What it means for crypto

Institutional interest in tokenized assets on the rise

Securitize co-founder and CEO Carlos Domingo told Cointelegraph that demand for tokenized funds is growing across a “diverse range of investors and users” spanning traditional finance and crypto-native firms.

“Institutional investors, private equity firms, and credit managers are turning to tokenization to enhance efficiency, reduce operational friction, and improve liquidity for private markets,” he said.

On the crypto-native side, companies “see tokenized RWAs as a secure and efficient way to manage treasury reserves while benefiting from stable yields,” said Domingo.

So far, the tokenization of private credit and US Treasury bonds have seen the largest uptake, according to industry data. The total market for onchain RWAs is approaching $18 billion, having grown by 16.8% over the past 30 days, according to RWA.xyz. 

Separate data from Security Token Market showed that more than $50 billion worth of assets were tokenized by the end of 2024, with the majority coming from real estate. 

The tokenization market has attracted significant players in recent years, with the likes of Ondo Finance, Tradable and Brickken entering the fray. 

Related: Trump-era policies may fuel tokenized real-world assets surge

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Bitcoin (BTC) tapped $83,700 during the early Asian hours on March 12 after reaching a low of $76,600 on March 11 amid a slight improvement in market sentiment. 

BTC/USD facing rejection from the $84,000 level raises questions about whether BTC price could drop further over the next few days.

Demand for Bitcoin remains weak

Spot Bitcoin exchange-traded funds (ETF) outflows have played a big role in the BTC price drop since late February, surpassing $1.5 billion over the last two weeks.

Related: Why is Bitcoin price up today?

Meanwhile, Bitcoin’s apparent demand remains low, implying a decline in risk appetite from potential investors, according to data from market intelligence firm CryptoQuant, 

What to know:

• Apparent demand is the difference between production and changes in inventory. 

• Production refers to BTC mining issuance, while inventory refers to inactive supply for over a year.

• Apparent demand weakens if production exceeds inventory reduction.

• After a period of acceleration between November 2024 and December 2024, fueled by President Donald Trump’s victory, Bitcoin apparent demand dropped from 279,000 BTC on Dec. 4 to 10,000 on Feb. 26.

• On Feb. 27, the metric turned negative for the first time since September 2024.

• It currently stands at -93,700 BTC at the time of writing. 

• If the trend continues, the price could dip lower, just as it happened in July 2024.

• The chart below shows that Bitcoin apparent demand was at similar levels on July 27, 2024, after which BTC price dropped a further 30% to $49,000 on Aug. 5, 2024.

However, this metric does not always guarantee more downside in the future. For example, it was also negative in late May 2024 and late October 2024 before the price rallied 7% and 73%, respectively.

Bitcoin valuation metrics hint at deeper correction 

Data from Cointelegraph Markets Pro and TradingView show Bitcoin price trading 7% above its four-month low of $76,600 reached on March 12.

Despite this rebound, several valuation metrics are still leaning bearish, suggesting a deeper correction is possible, according to CryptoQuant.

• The Bitcoin bull-bear market cycle Indicator is at its “most bearish level” of this cycle.

• The bull/bear market cycle indicator is a momentum metric that measures the difference between the P&L Index and its 365-day moving average.

• Values above 0 show that BTC is in a bull market, while values below 0 indicate a bear market.

• The current value of -0.067 is at the lowest level since May 2023, when Bitcoin’s price embarked on a sustained recovery.

• Meanwhile, the MVRV ratio Z-score has crossed below its 365-day moving average, indicating that the upward price trend has lost momentum.

• The MVRV ratio Z-score is a key metric used to assess whether Bitcoin is overvalued or undervalued. 

“Historically, valuation metrics at these levels have signaled either a sharp correction or the start of a bear market.”

Bitcoin price bear flag hints at $68,400

From a technical perspective, BTC price is trading within a bearish continuation pattern that indicates a potential correction ahead.

Key points:

• BTC is trading within a bear flag pattern, indicating the possibility of more downside if key support levels don’t hold.

• The bear flag developed after Bitcoin dropped from $92,000 to a local low of $76,600 between March 6 and 11.

• The consolidation within the bear flag has BTC trading in an ascending parallel channel, with today’s drop testing critical support levels, including the lower boundary of the flag at $82,000.

• A breakdown of this level could trigger another price crash.

• The bear flag’s downside target, derived from the height of the previous drop, is approximately $68,400, representing a 17% drop from the current price.

CryptoQuant analysts, meanwhile, say that if the current support zone between $75,000 and $78,000 doesn’t hold, Bitcoin could go even lower to $63,000.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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Bitcoin buyers who purchased around when it hit a $109,000 all-time peak in January are now panic-selling as the cryptocurrency declines, says onchain analytics firm Glassnode, which isn’t ruling out that Bitcoin could slide to $70,000.

Glassnode said in a March 11 markets report that a recent sell-off by top buyers has driven “intense loss realization and a moderate capitulation event.”

Short-term holders fled as Bitcoin dropped from peak

The surge in buyers paying higher prices for Bitcoin (BTC) in recent months is reflected in the short-term holder realized price — the average purchase price for those holding Bitcoin for less than 155 days.

In October, the short-term realized price was $62,000. At the time of publication, it’s $91,362 — up about 47% in five months, according to Bitbo data.

Meanwhile, Bitcoin is trading at $81,930 at the time of publication, according to CoinMarketCap. This leaves the average short-term holder with an unrealized loss of roughly 10.6%.

Glassnode said that short-term holders’ realized price shows it is apparent that “market momentum and capital flows have turned negative, signaling a decline in demand strength.” 

“Investor uncertainty is affecting sentiment and confidence,” it added.

Glassnode said that short-term holders are “deeply underwater” between $71,300 and $91,900 and warns that Bitcoin could bottom out as low as $70,000 if selling persists.

“The probability of forming a temporary floor in this zone is meaningful, at least in the near term,” Glassnode said.

Market research firm 10x Research labeled it a “textbook correction” in a March 10 note, adding that with Bitcoin’s dip below $80,000, “approximately 70% of all selling came from investors who bought within the last three months.”

Related: Bitcoin slides another 3% — Is BTC price headed for $69K next?

On the same day, BitMEX co-founder Arthur Hayes said that Bitcoin may retest the $78,000 price level and, if that fails, may head to $75,000 next.

Glassnode explained that a similar sell-off Bitcoin pattern was seen in August when Bitcoin fell from $68,000 to around $49,000 amid fears of a recession, poor employment data in the United States, and sluggish growth among leading tech stocks.

However, Bitcoin has spiked 7.5% over the past 24 hours as the US market steaded on March 11 after plunging a day earlier after US President Donald Trump refused to rule out that a recession was on the cards.

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This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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A solo Bitcoin miner using a relatively cheap, pocket-sized crypto mining rig has solved one of the blockchain’s blocks and earned the full $263,000 reward.

The miner became the 297th solo miner to mine a Bitcoin block from the solo.ckpool Bitcoin (BTC) mining pool, its developer, Con Kolivas, said in a March 10 X post.

He added the miner used a 480-gigahash per second (GH/s) Bitaxe machine. For comparison, many big crypto-mining companies use machines that can operate at over 230,000 GH/s.

“A miner of this size has only less than a 1 in a million chance of finding a block per day, or put alternatively, would take 3,500 years to find a block on average,” Kolivas added.

The miner snared a total of 3.15 BTC for solving block 887,212, which was timestamped on March 10 at 7:22 pm UTC. That bounty includes the current 3.125 Bitcoin mining reward and another 0.025 Bitcoin from transaction fees, mempool.space data shows.

A 1,200 gigahash Bitaxe Gamma 601 machine, which is nearly three times more powerful than the one used by the solo miner, is priced at around $158, according to Bitcoin miner marketplace ASIC Miner Value.

ASIC Miner Value estimates that the Bitaxe Gamma 601 will make just over $20 a year while using around $18 worth of electricity, coming out to a yearly net profit of under $3.

It also states the odds of the Bitaxe Gamma 601 mining a solo block on any given day is one in 4.6 million, or one in 12,700 over a year.

Related: Solo miner snags Bitcoin block reward worth $300K

Solo Bitcoin miners rarely solve blocks, let alone those with tiny mining rigs.

Most Bitcoin is mined from the larger pools such as Foundry USA — which obtains a large share of its hashrate from public Bitcoin miners like Cipher Mining, Bitfarms and Hut 8.

The largest public Bitcoin mining firm by market cap and hashrate, MARA Holdings, uses its own Bitcoin mining pool, MARA Pool.

While pocket-sized Bitcoin miners are hardly profitable, some of these micro miners are being built in an open-source manner to fight the “secrecy and exclusivity” of the Bitcoin mining industry, one of the builders of Bitaxe miners, “Skot,” told Cointelegraph in a September 2023 interview.

Most Bitcoin miners, such as those made by Bitmai,n are closed-sourced, which runs contrary to Bitcoin’s ethos, Skot said.

“The advent of these open-source projects serves to shed light on this often opaque area, making it more transparent and accessible to the public.”

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