Ndax Weekly TL;DR March 17th

• Solana's Proposal to Cut Inflation by 80% Fails Despite High Voter Turnout
• Ethereum Developers Launch Hoodi Testnet to Address Pectra Upgrade Delays
• Sui Foundation Partners with Blockaid to Strengthen Ecosystem Security
   

Solana stakeholders have rejected SIMD-228, a proposal to dynamically adjust the network’s inflation rate based on staking participation, with only 61.4% of votes in favor, short of the 66.67% needed for approval. While the proposal aimed to stabilize token issuance and reduce selling pressure, concerns over validator profitability and network stability contributed to its failure. Despite the outcome, the vote marked one of the largest governance events in crypto history, with 74% of staked SOL participating. Cointelegraph

Ethereum developers are introducing the Hoodi testnet on March 17 to resolve persistent challenges delaying the Pectra upgrade, which aims to improve staking operations and validator exits. Previous testnets, Holesky and Sepolia, encountered synchronization and configuration issues, pushing back the upgrade timeline. If Hoodi forks successfully and client teams confirm stability, Pectra’s earliest mainnet activation date would be April 25. Meanwhile, developers are also advancing plans for the Fusaka upgrade, which will enhance data availability and smart contract execution. Despite delays, the Ethereum community remains cautiously optimistic about Pectra’s long-term benefits. CryptoSlate

The Sui Foundation has partnered with Blockaid to enhance security across its blockchain ecosystem, addressing smart contract exploits, off-chain threats, and operational risks. While Sui's Move programming language reduces many common vulnerabilities, the network remains susceptible to protocol-level attacks. The collaboration follows recent security incidents, including a $29 million exploit in January, highlighting the need for stronger monitoring tools. Blockaid, which has previously worked with Stellar and Avalanche, aims to bolster Sui’s wallet security and threat response, reinforcing trust in the Layer-1 blockchain’s infrastructure. Cointelegraph

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News Nuggets

• Crypto Markets Stall Despite Cooling Inflation as Trump’s Tariffs Fuel Economic Uncertainty crypto.news 
• FTX and Alameda Unstake $23M in Solana to Support Creditor Repayments CryptoSlate 
• Mercado Bitcoin and Polygon Labs Partner to Accelerate Real-World Asset Tokenization in Latin America Cryptonews 
• El Salvador Expands Bitcoin Holdings Despite IMF Warnings Amid Market Decline Cryptoslate 
• Ripple Secures Dubai License, Becomes First Blockchain Payment Provider in DIFC Cointelegraph 
• Senator Lummis’ BITCOIN Act Expands US Reserve to Potentially Exceed 1 Million BTC Cointelegraph 
• Democratic Lawmaker Urges Treasury to Abandon Trump’s Bitcoin Reserve Plan Over Conflict Concerns CryptoSlate
• Aave Introduces Horizon to Bridge Real-World Assets with DeFi for Institutional Adoption CryptoSlate 
• SEC Delays Decision on Multiple Altcoin ETFs, Citing Need for Further Review Cryptonews

As of 03-17-2025 at 9:15 AM EDT

Market Summary

• Over the past seven days, the global cryptocurrency market capitalization has decreased from CA$3.92 trillion to CA$3.90 trillion.
• Bitcoin's market dominance stands at 60.6%, while Ethereum's share is 8.5%.

Performance

• Over the past 24 hours, the price of BTC has fluctuated between CA$118K and CA$120K registering a 0.82% change over the past week and a market cap of CA$2.4 trillion. At Ndax, the weekly movers are ATOM, which saw a 14% increase in the last seven days reaching a market cap of CA$2.9 billion, and PEPE, which experienced a 8% rise with a market cap of CA$4.3 billion. (At time of writing)

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Mark your calendars!

• Mar 18 – Canada Core Inflation Rate Announcement 
• Mar 19 – US Interest Rate Announcement

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