USDC's circulating market capitalization has risen to approximately $79.2 billion, nearing its all-time high. The stablecoin's market capitalization has been steadily climbing since early February, when it was around $70 billion, and surpassed $75 billion earlier this month. Rami Al-Hashimi, who identifies himself as a Dubai analyst, links this surge in demand to capital outflows from the UAE. He states that current demand for USDC on Dubai's over-the-counter (OTC) platforms is struggling to meet demand, attributing this to the dramatic fluctuations in the local real estate market. According to him, Dubai property prices have fallen by approximately 27% this month. TradingView data shows that the DFM Real Estate Index, which tracks listed real estate and construction companies in Dubai, has fallen from a recent high of approximately 16,800 points to approximately 11,516 points, a drop of about 31%. Al-Hashimi also stated that some property sellers have begun accepting cryptocurrency payments and are offering discounts of 5% to 10% to buyers paying with BTC. (Cointelegraph)

China's Taiwan Affairs Office has dismissed comments made by Taiwan's President Lai Ching-te, who associated democracy with sovereignty. Bloomberg posted on X, stating that the office described Lai's argument as misleading. The response highlights ongoing tensions between China and Taiwan over issues of governance and autonomy.

The market capitalization of the USDC stablecoin is nearing a record high of approximately $80 billion, driven by increasing demand in the Middle East. According to Cointelegraph, this surge is linked to capital flight from the United Arab Emirates, as investors seek alternatives to traditional markets. Data from CoinMarketCap indicates that USDC's circulating supply has reached around $79.2 billion, surpassing its previous peak of under $79 billion in December last year. The stablecoin's market cap has expanded significantly in recent weeks, rising from just over $70 billion in early February to $75 billion earlier this month. Dubai-based analyst Rami Al-Hashimi attributes the surge in USDC demand to a downturn in the UAE's real estate market. He noted that property prices in Dubai have plummeted by approximately 27% this month, prompting investors to shift capital into digital assets. Al-Hashimi highlighted that over-the-counter (OTC) desks in Dubai are struggling to meet the growing demand for USDC. He also mentioned that some property sellers are now accepting cryptocurrency payments directly, offering discounts for buyers who pay with Bitcoin. This trend underscores the increasing appeal of digital assets during times of financial uncertainty. In a related development, Japanese investment bank Mizuho reports that USDC has overtaken Tether's USDt in adjusted transaction volume for the first time since 2019. The bank's research indicates that USDC recorded about $2.2 trillion in adjusted transaction volume year-to-date, compared to $1.3 trillion for USDt, giving USDC approximately 64% of the combined transaction share. Despite this shift in transaction activity, USDt remains the largest stablecoin by market capitalization, standing at about $184 billion, significantly ahead of USDC's $79 billion.

Former UK Prime Minister Boris Johnson recently shared his apprehensions about Bitcoin on social media, suggesting that his longstanding belief that Bitcoin resembles a Ponzi scheme might be accurate. According to NS3.AI, Johnson pointed to Bitcoin's decentralized nature, lack of intrinsic value, reliance on trust, and the high costs associated with its complex fee structures as reasons for his concerns.

Cointelegraph reported on its X platform that Bitcoin has been below $100,000 for over 120 days.

Gulf nations have made significant investment pledges to the United States, with an implicit understanding to maintain stability in the Middle East, according to an economist. Bloomberg posted on X, highlighting the strategic importance of these investments in fostering regional peace. The economist suggests that these financial commitments are part of a broader diplomatic effort to ensure that tensions in the Middle East do not escalate. This approach underscores the interconnected nature of economic and geopolitical interests between the Gulf countries and the U.S.

India has initiated the supply of commercial liquefied petroleum gas (LPG) cylinders to industrial sectors in certain states, according to Jin10. This move is part of the government's efforts to bolster industrial growth and energy accessibility across the nation. The decision aims to enhance operational efficiency and support the energy needs of industries, contributing to economic development. The expanded LPG supply is expected to facilitate smoother industrial operations and potentially attract more investments into these regions. The government continues to focus on energy solutions that drive industrial progress and sustainability.

Ethereum's price fluctuations could lead to substantial liquidations on major centralized exchanges. According to ChainCatcher, data from Coinglass indicates that if Ethereum surpasses $2,167, the cumulative liquidation of short positions could reach $1.048 billion. Conversely, if Ethereum falls below $1,965, the liquidation of long positions could amount to $458 million.

Iran has announced that the situation on Kharg Island is under control following an attack on its defense systems. According to Jin10, the deputy governor of Iran's Bushehr Province stated that the island was targeted by the United States and Israel on March 13, resulting in damage to some military facilities and Kharg Airport. Despite the attack, the island's oil facilities remain intact, and oil exports continue as usual. Businesses stationed on the island have not experienced any disruptions. The overall situation on Kharg Island remains calm, with daily life proceeding safely and orderly. The deputy governor confirmed that there were no casualties among military personnel, oil company employees, or island residents, and all departments are functioning normally.

According to Iranian sources on the 14th, Major General Mohsen Rezaei, a senior commander of the Iranian Islamic Revolutionary Guard Corps, said that Iran would consider ending the war under two conditions: first, Iran would recover all its losses; and second, the United States would leave the Persian Gulf. (CCTV News)

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This analysis examines the underlying logic of this round of fluctuations, the current market structure, and the potential policy impact of the upcoming US inflation data.

Jinse Finance launches the "Jinse Web3.0 Daily," providing you with the latest and fastest news on MEME, DeFi, DAO, NFT, and the metaverse industry.