Selected non-U.S. clients will purportedly be given the opportunity to trade over 50 U.S. stocks and ETFs. These include Tesla, Nvidia, Apple, and the SPDR S&P 500 ETF (SPY), even beyond traditional market hours.

Kraken’s launch marks it as the first exchange to successfully list tokenized U.S. equities since Binance’s attempt in 2021. Unlike previous models, Kraken’s strategy is based on real securities held in custody and tokenized on a high-speed, low-cost blockchain.

According to Kraken, xStocks tokens are issued as SPL tokens on Solana, making them compatible with wallets and protocols on the network. This compatibility enables users to utilize their tokenized stocks in decentralized finance (DeFi) environments, including as collateral. Kraken’s goal is to facilitate open, borderless trading.

The tokenized equities initiative from Kraken is part of a wider push into traditional finance. Earlier this year, they introduced equities trading for U.S. clients, featuring over 11,000 stocks and ETFs directly through its app. Presently, Kraken is focusing on global accessibility via tokenization. Unlike conventional brokerage accounts, xStocks can be traded 24/7 and potentially employed in decentralized applications, a feature that current traditional finance can’t offer.

The concept of tokenization, previously considered marginal, is now viewed as a viable means to enhance market accessibility and boost liquidity. Plans to expand to the U.K., Europe, and Australia are being considered.

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As per data from Glassnode, short-term bitcoin holders (those who have owned BTC for less than 155 days), often regarded as speculators, tend to flood the market during price surges or market exuberance. Since February, such investors have offloaded more than 100,000 BTC (nearly $8 billion at present rates), an indication that they are seeking to minimize losses (or secure any gains) before prices plunge further.

This downturn has forced BTC’s price under its 200-day moving average, which stands at $86,300. This average is a crucial indicator of long-standing market patterns, and Bitcoin isn’t the only ‘risk-on’ investment to fall below this line.

US equities, represented by the S&P 500, have also dropped below this level. The index currently hovers around 5,537, whereas the 200-day average sits at 5,738.

Joe Carlasare, a commercial litigator and Bitcoin advocate, suggests that if the S&P 500 fails to regain the 200-DMA, historical trends point towards an impending downfall. He stated on X, “The S&P 500 continues to struggle to regain the 200 day. If we can’t spark a significant rally above it soon, it’s logical to anticipate lower prices.”

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“Tesla has shown the worst performance, while Meta and Apple have performed the best. The remaining entities have shown similar volatility-adjusted performance as Bitcoin,” Kendrick explained. He further emphasized that the recent downturn in Bitcoin’s value seems to be influenced more by the overall market sentiment than any “Bitcoin-specific problems”.

According to Kendrick, Bitcoin’s recovery could largely depend on two potential triggers: a wider recovery in risk assets or positive news specific to Bitcoin, like sovereign purchases from the U.S. or other countries. On the subject of risk assets, Kendrick highlighted that clarity over tariffs or a rapid shift toward Federal Reserve rate cuts could help stimulate recovery.

However, Kendrick warned of potential bearish impacts. If the downward trend persists, Bitcoin could quickly test support around $69,000 after breaking below the $76,500 level. Despite this, Kendrick remains optimistic about Bitcoin’s long-term prospects, predicting a value of $200,000 by the end of 2025.

Upcoming Federal Reserve rate decisions could pose a significant challenge for Bitcoin, with the possibility of further declines if the U.S. central bank decides to maintain current rates, according to analysis. The Federal Open Market Committee (FOMC) is set to meet on Wednesday, March 19, with most interest rate traders predicting unchanged rates.

Meanwhile, Adriana Kugler, a Federal Reserve Governor, has indicated that the central bank should maintain its current stance on interest rates due to persistent inflation concerns. Uncertainty in the market has been aggravated by President Trump’s tariff policies, including the recently announced 25% duties on imports from Mexico and Canada, due to take effect on March 20.

Disclaimer: This article serves informational purposes only. It should not be interpreted as financial, investment, tax, legal, or any other form of advice.

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