Crypto Morning News: Telegram founder allowed to leave France for Dubai; this week, major token unlocks are scheduled for FTN, IMX, ENA, APE, and others
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Crypto Morning News: Telegram founder allowed to leave France for Dubai; this week, major token unlocks are scheduled for FTN, IMX, ENA, APE, and others
The market capitalization ratio of meme coins to non-meme coins has decreased from a peak of 9% in November last year to 5.67% today.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Developments
Telegram Founder Pavel Durov Allowed to Leave France for Dubai
According to Cointelegraph, Telegram founder Pavel Durov has been granted permission by a French court to leave the country and has since arrived in Dubai.
FTN, IMX, ENA, APE and Other Tokens Face Major Unlock Events This Week
Data from Token Unlocks shows that several tokens including FTN, IMX, and APE will undergo significant one-time unlocks this week:
Metars Genesis (MRS) will unlock 10 million tokens at 8:00 AM Beijing time on March 23, valued at approximately $97.4 million, representing 11.87% of circulating supply;
Fasttoken (FTN) will unlock 20 million tokens at 8:00 AM Beijing time on March 18, valued at around $79.8 million, or 4.65% of circulating supply;
MANTRA (OM) will unlock 5 million tokens at 8:00 AM Beijing time on March 23, worth about $32.8 million, accounting for 0.51% of circulating supply;
SPACE ID (ID) will unlock 78.49 million tokens at 8:00 AM Beijing time on March 22, valued at roughly $19.3 million, or 18.23% of circulating supply;
Immutable (IMX) will unlock 24.52 million tokens at 8:00 AM Beijing time on March 21, worth approximately $13.52 million, making up 1.39% of circulating supply;
ApeCoin (APE) will unlock 15.6 million tokens at 8:30 PM Beijing time on March 17, valued at around $7.85 million, or 1.95% of circulating supply;
Solv Protocol (SOLV) will unlock approximately 117 million tokens at 6:00 PM Beijing time on March 17, worth about $5 million, representing 7.93% of circulating supply;
Ethena (ENA) will unlock 7.93 million tokens at 3:00 PM Beijing time on March 19, valued at approximately $2.85 million, or 0.15% of circulating supply.
Data: Meme Coin Market Cap Ratio Drops from November Peak of 9% to Current 5.67%
Ella Zhang, Head of YZi Labs, shared data showing the trend in market cap ratio between meme coins and non-meme coins. The ratio rose from 2.5% in February 2024 to 5% in March 2024, peaked at 9% in November 2024, then declined to 7.5% in January 2025 and further dropped to 5.67% in February 2025.
Kaito AI and Founder Yu Hu’s X Accounts Hacked; Kaito AI Funds Unaffected
Sandra, a member of the Kaito AI team, stated that both Kaito AI founder Yu Hu and the official Kaito account on X were compromised. However, Kaito's wallet was not breached.
Bubblemaps: Despite Being Wanted, LIBRA Leader Launches New Token WOLF
Despite being wanted by Interpol, Hayden Davis, leader of the LIBRA project, has launched a new token called WOLF.
Last week, rumors circulated that Jordan Belfort, known as the "Wolf of Wall Street," would launch his own WOLF token. The WOLF token shares the same logo as HOOD, another token launched by Hayden Davis, and blockchain records show the WOLF token creator is linked to Davis’ address.
Data: DOGE Active Addresses Surge Nearly 400%, Short-Term Peak Exceeds 390K
According to analytics platform Santiment, DOGE’s active address count recently surged by nearly 400%, with a short-term peak exceeding 390,000. However, it remains far below the all-time high of 1.64 million recorded on November 22, 2024.
Analysis: Recent Large Withdrawals of $AUCTION Have Achieved Partial "Control"
On-chain analyst Yu Jin observed that after a whale/institution withdrew 26% of AUCTION from Binance, they have achieved partial “control” of the token:
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Exchange wallets (Upbit/Binance/OKX): 2.11 million tokens, 27% of total supply.
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Address that recently withdrew AUCTION from Binance: 2 million tokens, 26% of total supply.
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Project team addresses: 1.91 million tokens, 25% of total supply. The team’s multisig wallets haven’t moved funds in over five months, suggesting no near-term activity expected.
CZ Removes Pinned Mubarak-Related Posts, Buys 1 BNB Each of $TST and $Mubarak
On-chain data indicates that Binance co-founder Changpeng Zhao (CZ) purchased $TST and $Mubarak tokens equivalent to 1 BNB each.
In addition, CZ has removed pinned posts related to Mubarak and Inshallah.
Circle Mints 10 Billion USDC on Solana in 2025
According to OnchainLens monitoring, following Circle’s recent minting of 250 million USDC on Solana two days ago, the total amount of USDC minted by Circle on Solana in 2025 has reached 10 billion.
Poll: 51% of Respondents Oppose Trump Administration’s Plan to Establish Crypto Strategic Reserve
Per The Block, Data For Progress surveyed 1,169 U.S. voters and found that a majority oppose the creation of a strategic cryptocurrency reserve. Specifically, 51% opposed the Trump administration’s proposal, 34% supported it, and 15% were undecided.
Bybit CEO Responds to OIK Dumping Allegations: Will Not Sell Activity Budget for Profit, Open to Regulatory Audits
Bybit CEO Ben Zhou responded to allegations regarding the OIK token dump during its Launchpool event: The project team deposited 10 million OIK tokens into the Launchpool, of which 3.3 million have already been distributed to over 90,000 participants. The event continues until March 19, with 5.7 million tokens remaining to be distributed.
Bybit never sells its campaign budget for profit—a practice that carries serious legal consequences—and all funds are held in hot wallets subject to audit by any regulatory authority. While large sell orders have appeared in the market, compliance is currently investigating. Going forward, Bybit plans to increase transparency by using dedicated wallets for project budgets so the community can clearly track fund usage.
Previously, community members raised concerns, speculating that Bybit was using its Launchpool to treat projects as cash machines. They noted that SpaceNation, despite a year of development, had a failed TGE. Over three days, the community progressed from outrage to skepticism and investigation, gathering evidence suggesting less than 5% of tokens were sold by the community, yet massive early selling pressure occurred—absorbing liquidity that should not have existed within 30 minutes of listing.
Market Movements
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