The Sandbox (SAND) - Alpha Season 5 - 31 Mar 2025

Alchemist AI (ALCH) is deploying important updates like Deepseek V3 and Sonnet 3.7, which could be crucial for user experience. Improved UI/UX may draw more users, increasing demand for the token. These updates can show progress and innovation, boosting investor confidence and possibly driving prices up. However, if the updates fail to meet user expectations or there's a bug, it may cause prices to drop. Attention to community feedback and update success will be vital to understand potential price changes. source

The BSCDaily X Space AMA is a big event for Solidus Ai Tech (AITECH) as it covers a huge airdrop and a new product launch. The airdrop may attract new investors, leading to a possible price increase. Revealing a new product can show the project's growth and development, which also encourages buying activity. Together, these elements could be a catalyst for a major price move. However, if the market response is lukewarm, the impact may be limited. It's important for investors to watch market sentiment during and after the AMA. source

Bitcoin price extended its decline on March 28, falling for a fourth consecutive day to paint an intra-day low of $83,387. BTC’s (BTC) decline mirrored the Wall Street sell-off, where the DOW closed 700 points lower, alongside the S&P 500 index, which dropped 112 points.

The sell-off in equities is widely attributed to investors increasing worries over inflation after the core Personal Consumption Expenditures index data from February rose to 2.8% (a 0.4% monthly increase), which was higher than expected.

Bangalore, India--(Newsfile Corp. - March 28, 2025) - KoinBX, a rapidly growing crypto exchange, recently listed the native Gala token of the Gala ecosystem - which includes music, games and entertainment in web3.

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With the growing interest in play-2-earn and Web3 entertainment projects, the listing of Gala aligns with KoinBX's mission of betterment for the project.

Saravanan Pandian, CEO and founder of KoinBX said, "Entertainment and gaming is undergoing a revolutionary change in the Web3 domain. As KoinBX continues to expand its GameFi offerings, we are thrilled to bring GALA to our global community." 

With strategic partnerships across the gaming and entertainment industries, including collaborations with gaming giants, Gala is at the forefront of the $200 billion global gaming industry's transition to Web3. 

Key Listing Details

Token: GALA

Trading Pair: GALA/USDT, GALA/INR

Deposit Opened: March 13, 2025

Trading Started: March 13, 2025

About KoinBX:

KoinBX is an institutional grade crypto exchange that offers fairness, transparency, compliance and access for all. It has proprietary trade matching technology along with the secure custody, architecture, and resilience business continuity standards. Established with a mission to democratize access to financial opportunities and pave the way for a more inclusive and interconnected global economy, KoinBX offers a wide range of digital assets, and robust security measures to ensure seamless transactions and safeguard user assets.

For more information visit: koinbx.com

Contact Details

Aheli Raychaudhuri

aheli@koinbx.com | +91 98844 25592

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/246556

Ethereum is down $130.48 today or 6.50% to $1876.47

• Lowest 5 p.m. level since March 13, 2025 when it traded at $1841.63
• Largest percentage decrease since March 10, 2025 when it dropped 8.66%
• Down five of the past six days
• Down four consecutive days, down 10.01% over this period
• Longest losing streak since Feb. 28, 2025, when it fell for five straight trading days
• Worst four day stretch since the four days ending March 13, 2025 when it fell 10.06%
• Down 15.57% month-to-date
• Down 43.9% year-to-date
• Down 60.91% from its all-time high of $4800.00 on Nov. 9, 2021 (based on 5 p.m. levels)
• Down 46.34% from 52 weeks ago (March 29, 2024), when it traded at $3496.86
• Down 53.67% from its 52-week high of $4050.30 on Dec. 16, 2024 (based on 5 p.m. levels)
• Up 1.89% from its 52-week low of $1841.63 on March 13, 2025 (based on 5 p.m. levels)
• Traded as low as $1863.43; lowest intraday level since March 16, 2025 when it hit $1862.77
• Down 7.15% at today's intraday low; Largest intraday % decrease since March 10, 2025 when it was down as much as 11.28%

Note: The Ethereum price is a 5 p.m. ET snapshot from Kraken

Data compiled by Dow Jones Market Data

GameStop (NYSE: GME) suffered a sharp 25% drop yesterday, a sudden downturn that followed a 16% rally on March 26. The catalyst? A bold decision by the gaming retailer’s board to establish a Bitcoin treasury—joining the ranks of MicroStrategy, Metaplanet, and other corporations. Initially, the news sent GME shares soaring, as investors viewed the move as a bullish signal. However, the stock quickly reversed course and now finds itself in turbulent waters.

Investor optimism over GameStop’s Bitcoin play was palpable at first. The announcement sparked excitement similar to when MicroStrategy began accumulating Bitcoin. Yet the initial rally gave way to heavy selling pressure, erasing nearly $3 billion in market value. While the company has not fully detailed its strategy or timeline for Bitcoin acquisitions, the market’s whiplash response has prompted widespread debate.

GameStop’s ‘Convertible Arbitrage’ Factor

On X, analyst Han Akamatsu offered an explanation rooted in parallels to MicroStrategy’s past financing methods. He began by noting: “Let me explain to you why GameStop is falling today, as far as I understand based on my MSTR experience.”

According to Akamatsu, when MicroStrategy previously issued convertible notes, large institutional buyers used a strategy known as convertible arbitrage: “When MSTR issued convertible notes, institutional buyers used convertible arbitrage: They bought the bonds, shorted MSTR stock to hedge [and] waited for the bond to either convert or mature.”

He emphasized that this process created “artificial short pressure” on the stock—despite MicroStrategy’s own bullish outlook on Bitcoin. Akamatsu then referenced MicroStrategy’s 2021 issuance: “In 2021, MSTR issued $1.05B of 0% convertible notes, the stock dipped after the announcement due to hedging shorts, but later exploded when Bitcoin ripped and the arbitrage unspooled.”

Akamatsu went on to connect these dots to GameStop’s current situation: “GME is following the same blueprint now:Issue $1.3B in 0% convertibles, likely going to buy Bitcoin [and] institutions are now shorting GME to hedge.” He pointed out that if GME or Bitcoin rises substantially, the short positions set up to hedge the convertibles could be unwound en masse: “If GME or BTC goes up a lot, the trade gets very interesting as we have a squeeze opportunity here.”

He further explained the typical ratio of shorts involved: “A common practice is to short 50–70% of the bond’s notional value in stock. They make money on the arbitrage between the bond conversion price and the stock price, even if the stock stays flat or drops.”

Finally, Akamatsu noted that the volume-weighted average price (VWAP) would influence the conversion price: “VWAP pricing window behavior, they’ll want the stock low to get favorable conversion. Conversion price will be based on GME’s VWAP […] from 1:00 PM to 4:00 PM EDT on the pricing day.”

Criticism Over the Risk

Some market watchers have criticized GameStop’s board for incurring what appears to be self-inflicted selling pressure. One user on X questioned whether Chairman Ryan Cohen (often referred to by the initials RC) had miscalculated: “Hi Han, great analysis as usual… however, nearly $3bn market value is wiped out today. RC should really ask himself if it is worth it or he miscalculated. The hedge is supposed to mitigate risk in nature. But itself creates much more risk.”

Akamatsu stood by his take, asserting: “Calculated and all going according to plan. If you’re not really into the MSTR playbook, I recommend you to check their strategy.”

In another post, Akamatsu drew comparisons to a setup he observed with Celsius Holdings (NASDAQ: CELH): “GME has a similar pattern with what CELH had when I claimed this was an easy 100% setup.”

He referenced chart analyst Thomas Bulkowski’s work on wedge patterns, hinting that a retracement might offer a buying opportunity: “If GME starts retracing after that solid breakout, textbook Bulkowski says that 7/10 times price tests the wedge again and then has a greater takeoff.”

The analyst reassured traders not to panic if the stock dips further, stressing it could be a standard technical move: “So, if you see GME retrace … don’t panic as this will be normal. You’ll have another chance at a great entry when this tests the wedge again.” He concluded on a hopeful note: “I’m having my fingers crossed this will simply skyrocket.”

At press time, GME stood at $22.30.