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Hong Kong establishes task force to advance Web3 development

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As part of Hong Kong’s ongoing commitment to embrace the “megatrend” of Web3 development, it has established a diverse group of industry and government officials to supervise the progress of Web3 in the region.

According to a June 30 statement, the government of Hong Kong has formed a task force comprising 15 industry participants and 11 key government officials to oversee the development of Web3, with a particular focus on promoting its growth in an ethical manner. It stated:

“The Financial Secretary has announced in the 2023-24 Budget the establishment of the Task Force to provide recommendations on the sustainable and responsible development of Web3 in Hong Kong.”

Paul Chan, Hong Kong’s financial secretary said that the task force will only further enhance Hong Kong’s aim to be a frontrunner in the Web3 sector.

“Hong Kong seeks to lead and drive innovative exploration and development, create more new application models, and strives to draw together top-notch companies and talent in the arena to build a thriving ecosystem” Chan stated, adding:

“With the Task Force bringing together leaders and professionals in the sectors involved, I believe their valuable advice will help Hong Kong develop into a Web3 hub.” 

It was highlighted that the market has “responded favorably” to the Hong Kong government policy statement on the development of virtual assets, which was released in October 2022.

Cointelegraph reported on March 20 that over 80 virtual asset-related companies have expressed interest in “establishing their presence in Hong Kong” since the release of this statement.

Related: HSBC rolls out cryptocurrency services in Hong Kong: Report

The Hong Kong government has been actively promoting the region as an attractive place for crypto firms in recent times.

On June 10, Johnny Ng, a Hong Kong Legislative Council member took to Twitter to extend an invitation to “all global virtual asset trading platforms” to come to Hong Kong and apply for a virtual asset service provider license.

He mentioned crypto exchange Coinbase specifically, amid the United States Securities and Exchange Commission taking legal action against the exchange just days earlier on June 6.

This comes after the Hong Kong Securities and Futures Commission (SFC) announced on May 23 that it would soon allow licensed platforms to cater retail investors.

It was stated thatoperators of virtual asset trading platforms willing to adhere to the SFC’s proposed guidelines are encouraged to submit license applications.

Magazine: How smart people invest in dumb memecoins: 3-point plan for success

Cryptocurrency

Bitcoin’s Uptrend Backed by Positive Social Sentiment, Ethereum Joins the Rally

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Bitcoin has made a comeback over the past week, rising by 5%. Although investors continue to proceed with caution, new data revealed that bullish sentiment is at its strongest level in six weeks.

This shift came as the crypto asset soared to $88,500 where its rally was stopped.

Bullish Sentiment

According to the latest analysis shared by Santiment, the week started on a positive note for the crypto market, with Bitcoin reaching $88,500 for the first time in 17 days. Ethereum also saw a surge as it surpassed $2,100 for the first time in 14 days.

According to the data revealed by the on-chain analytic platform, positive social media comments have been on the rise, which indicates increased optimism among market participants.

Interestingly, Bitcoin’s crowd sentiment has hit its highest level since February 14, while Ethereum’s sentiment is also trending bullish, thereby suggesting that the recent rally may continue as investor confidence grows.

Cyclical On-Chain Metrics

Despite the price appreciation, the Bitcoin IFP (Inflow-Flow Position) metric continues to flash bearish signals. With an IFP of 696k, significantly below the 90-day simple moving average (SMA90) of 794K, this metric suggests no imminent trend reversal to the upside.

Additionally, the Bitcoin CQ Bull & Bear Market Cycle Indicator remains bearish. Although BTC is in an uptrend, the indicator has shown weak bearish signals similar to previous downturns. The crucial question remains whether this is just a natural market correction or the start of a deeper bear phase. As the DMA30 is still below the DMA365, no bullish shift can be confirmed based on this indicator alone.

Meanwhile, the Bitcoin MVRV (Market-Value-to-Realized-Value) score is currently below its 365-day moving average (SMA365). Historically, this has signaled increased selling pressure, as seen during the August 2024 carry trade crisis when the MVRV score briefly dipped below SMA365. Once that crisis subsided, the MVRV reclaimed the SMA365, which hinted at recovery.

Finally, the NUPL (Net Unrealized Profit/Loss) metric is still below its SMA365 level, which shows that the uptrend could be losing momentum. For Bitcoin to regain strength, the NUPL would need to cross back above its SMA365.

While these metrics suggest a period of short-to-mid-term turbulence, none indicate that Bitcoin has reached an overheated cycle top. Drawing comparisons to the carry trade crisis of August 2024, CryptoQuant analysis suggests that the current bearish signals could be linked to macroeconomic conditions, which are similar to last year’s market conditions. Once these macro pressures ease, Bitcoin is expected to recover, but the market must wait and see if history repeats itself.

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Whale.io to Bridge NFT Collection from TON Blockchain to Solana

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[PRESS RELEASE – Willemstad, Curacao, March 25th, 2025]

Whale.io has announced plans to migrate its Whale NFT collection from the TON blockchain to the Solana blockchain. The cross-chain transition aims to expand the project’s interoperability and accessibility by leveraging Solana’s infrastructure. This move represents a strategic shift in blockchain alignment for one of the more prominent NFT collections launched in recent years.

Initial Launch on TON Blockchain

The Whale NFT collection was initially launched on the TON blockchain, where all 20,000 NFTs were minted at no cost within hours of release. The rapid minting reflected strong early engagement from the community. Over the following year, the collection became one of the most visible projects on Getgems, TON’s leading NFT marketplace. According to platform data, the floor price increased approximately sevenfold during this period.

Hosted on Getgems.io (collection available here), Whale NFTs quickly became a cultural phenomenon within the TON ecosystem. With eye-catching designs and varying rarities, Whale.io’s collectibles became popular display pictures across Telegram, where the team has continued to deliver value, innovation, and utility to keep the project thriving.

Buybacks, Supply Reductions, and Fee-Free Trading

The Whale team has implemented several mechanisms to manage supply and maintain engagement with the collection, including token buybacks and supply reductions via burns. These practices have been part of the project’s ongoing strategy on the TON blockchain, and the team has indicated that similar measures will be introduced following the migration to Solana.

In addition, Whale NFTs have been available for trading with zero gas fees on supported platforms, a feature that has contributed to repeated appearances on trending lists within Getgems, TON’s leading NFT marketplace. With the upcoming transition to Solana—known for its high throughput and low transaction costs—the collection is expected to remain active across major NFT marketplaces within the Solana ecosystem.

Utility That Packs a Punch

Whale NFTs aren’t just pretty pictures—they’re powerhouses of utility, deeply integrated into the Whale ecosystem. At the heart of this is the Wheel of Whales miniapp on Telegram, a play-to-earn sensation that’s taking the crypto gaming world by storm. This innovative game offers players the exclusive chance to participate in the distribution of Whale tokens, making it a golden opportunity for anyone looking to dive into the project’s rewards system.

Owning a Whale NFT isn’t just a flex—it’s a ticket to amplified benefits within Wheel of Whales. Holders enjoy boosted earnings and a suite of in-game perks, giving them a significant edge in this addictive play-to-earn game. With rarities ranging from common to ultra-rare, each NFT brings its own unique flair and value to the game, making every Whale a prized possession. Highest rarity Golden NFT prices go up to 2000 TON that equals over 7000 USDT.

Bridging to Solana: A New Frontier

Whale.io has announced its intention to bridge its NFT collection to the Solana blockchain, recognized for its scalability and active NFT ecosystem. The transition is designed to expand the project’s reach by integrating with Solana’s infrastructure and user base. According to the team, this cross-chain move reflects a broader strategy to enhance accessibility and engagement across multiple blockchain environments.

The bridge from TON to Solana represents an effort to connect two blockchain ecosystems, enabling broader accessibility for the Whale NFT collection. Whale.io will bring its established framework—which has included gas-free trading, supply reduction mechanisms, and various utility features—into the Solana environment. With Solana’s low transaction costs and high-speed processing, the transition is intended to streamline the user experience and support increased activity across NFT marketplaces.

Bridge Signals Strategic Expansion Across NFT and Gaming Ecosystems

The Whale NFT bridge is a landmark moment for the broader NFT and blockchain gaming industries. It showcases how projects can evolve, adapt, and thrive across ecosystems while delivering consistent value to their communities. For Whale holders, this is a chance to ride the tide of a project that’s already proven its worth and is now gearing up for an even bigger splash. For newcomers, it’s an invitation to dive into a collection that’s equal parts art, investment, and entertainment.

Preparing for the Solana Bridge

With the upcoming bridge to Solana, Whale.io is transitioning its NFT collection into a new blockchain environment. The project has encouraged community members, NFT collectors, and Telegram gaming participants to follow official channels for updates regarding the bridging timeline, marketplace listings, and upcoming developments within the Wheel of Whales ecosystem. Additional information about the bridging process is available at whale.io/thedailyfinn/nftbridging. Following its presence on the TON blockchain, the collection will now be accessible within Solana’s NFT ecosystem.

About Whale.io

Whale.io is a pioneering force in the NFT and blockchain gaming space, delivering innovative projects that blend art, utility, and community value. With the Whale NFT collection and Wheel of Whales miniapp, Whale.io is redefining what it means to own, trade, and play in the decentralized world.

Users can discover the future of Whale.io and $WHALE token by checking them out here:

Website: https://whale.io/

Socials: https://linktr.ee/whalesocials_tg

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Latest Pi Network Developments, Bullish Dogecoin Predictions, and More: Bits Recap March 25

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TL;DR

  • Recent Pi Network updates include PI token inclusion in Telegram wallets and a domain claim program for apps that complete PiNet migration by May 28, 2025.

  • Dogecoin has jumped by 5% after House of Doge created a 10M DOGE reserve. Analysts see potential for more gains, with some predicting a new all-time high in the coming months.

  • Shiba Inu has risen by 3.5% amid rising Shibarium activity, higher burn rate, and decreasing exchange netflow – signs of bullish momentum.

What’s New Around Pi Network?

The controversial crypto project marked a major achievement on February 20 when it finally released its Open Network, which also saw the launch of the PI token. 

The asset’s valuation experienced huge turbulence during its first trading days, ranging from under $0.70 to an all-time high of almost $3 (registered on February 27). Since then, PI has been experiencing an evident downfall, currently hovering at around $0.92 (per CoinGecko’s data).

The exchanges that have already embraced the coin include OKX, Bitget, Gate.io, and CoinEx (the latest to hop on the bandwagon).

Additional support from major platforms might positively affect the price and reverse the negative trend. The community expects Binance’s decision, which held a vote last month to check whether its users want to see PI listed on the exchange. Over 86% of the voters clicked the “yes” option, but the company has yet to respect their wishes. 

Meanwhile, the team behind Pi Network did not extend the KYC process (known as the Grace Period), meaning users who did not take the necessary steps until March 14 risked forfeiting most of their minted PI tokens. Recently, the developers behind the project said some Pioneers will have to complete two-factor authentication (2FA) using a trusted email before their PI holdings get successfully migrated to the mainnet blockchain.

Earlier this week, Pi News (a media channel focusing on the project) claimed that PI investors can now see their tokens in the official wallet of the popular messaging application Telegram. Additionally, Pi Network informed that community apps that have complied with the ecosystem’s listing guidelines and completed PiNet migration by May 28, 2025, can “secure their domains without bidding, with certain requirements and restrictions.”

DOGE Heads North

The biggest meme coin in terms of market capitalization is the best-performing top 20 cryptocurrency today (March 25). Its price has surged by over 5%, and it’s currently trading at above $0.18.

DOGE Price
DOGE Price, Source: CoinGecko

Perhaps the most apparent reason triggering the rally is the establishment of “The Official Dogecoin Reserve” by House of Doge – an entity related to the meme coin. 

“Through the launch of the Reserve and an initial 10 million Dogecoin purchase, House of Doge is creating a proof of concept to show that Dogecoin can facilitate seamless and efficient transactions,” the official statement reads.

DOGE’s pump caught the eye of numerous analysts who envisioned further gains in the near future. Ali Martinez, for instance, estimated that the price has broken out of its multi-week triangle, which could be a precursor of a 16% upswing.

The X user Trader Tardigrade was much more bullish, projecting an explosion to a new all-time high of over $6 in the following months.

SHIB Price Outlook

DOGE’s biggest rival has also entered into green territory, albeit registering less substantial gains than the OG meme coin. 

While Shiba Inu has pumped by 3.5% in the past 24 hours, some important factors suggest this might be the beginning of a new bull run.

SHIB Price
SHIB Price, Source: CoinGecko

As CryptoPotato reported, those elements include the increased activity on Shibarium, the recent spike of the SHIB burn rate, and the negative exchange netflows (on a weekly scale), which signal reduced immediate selling pressure. 

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