Market Signal Briefing

OGs sell as Fed's hawkish stance on rates pressures crypto and other risk assets. Mar 19, 2026, 7:19 a.m.

Bitcoin's BTC$70,565.84 biggest early holders, often called original gangsters, are hitting the sell button after the Federal Reserve rattled expectations for lower borrowing costs.

Blockchain data tracked by Lookonchain shows at least two long-term holders together dumped over 1,650 BTC worth more than $117.87 million early Thursday.

One veteran whale who previously sold an 11,000‑BTC stack, added another 650 BTC to his dump, while a separate early‑adopter OG with a 5,000‑BTC stash offloaded a full 1,000 BTC.

Bitcoin's price dipped nearly 1% to $70,600 soon before press time, extending Wednesday's 3.5% slide from $74,500, according to CoinDesk data. The broader market wilted, with the CoinDesk 20 Index 3% to 2,056 points. Ether (ETH), XRP (XRP), solana (SOL), and DOGE$0.09454 suffered similar losses.

The decline followed a hawkish Fed rate decision on Wednesday, when the central bank left the benchmark borrowing cost unchanged in the 3.5%–3.75% range but signaled a slower pace of rate cuts ahead, disappointing risk‑asset bulls.

The hawkish tone came through the so‑called interest‑rate "dot plot," which shows where the Fed's voting members expect interest rates to land in the months ahead. The median projection indicated only one rate cut this year, despite recent labour-market weakness. Moreover, only two committee members remained in the two‑cut camp, and Chair Powell's own personal projection moved higher.

"The higher for longer narrative has been reinvigorated by sticky inflation and the inflationary shadow cast by rising energy costs, forcing investors to abandon their dreams of a rapid easing cycle," Matt Mena, crypto research strategist at 21shares, said in an email.

Taken together, these developments pointed to a central bank still wary of inflation and this has led to a sharp repricing of bets on Fed rate cuts. Trading on the decentralized platform Polymarket and pricing in the CME Fed funds futures, now implies around an 80% probability of just one rate cut this year, versus a 62% probability of two to three rate cuts a month ago.

This outlook for tighter liquidity is not supportive of risk-taking in financial markets.

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Forget market hours: Leading ETP firm just opened 24/7 liquidity for tokenized stocks, gold and money market funds

58 minutes ago

ETP market giant Flow Traders just launched 24/7 over-the-counter (OTC) liquidity service for tokenized assets.

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ETP market giant Flow Traders just launched 24/7 over-the-counter (OTC) liquidity service for tokenized assets. Institutions can now manage risk on digital stocks, gold, and money market funds, even when traditional markets are closed. The service directly addresses the frustration of being stuck as global events erupt over weekends or during after market hours.

TLDR: Table of Contents

Five U.S. regional banks holding over $600B in deposits have joined Cari Network as design partners on ZKsync. Stablecoins processed $5.7T in 2024, pushing regional banks to seek programmable settlement outside traditional rails. Zero-knowledge proofs allow banks to verify settlement cryptographically without exposing counterparty data to third parties. Prividium lets each bank run its own governed chain while posting ZK settlement proofs directly to Ethereum. Five U.S. regional banks are moving to ZKsync, and the reasons run deeper than trend-chasing. Cari Network has announced that Prividium will power its tokenized deposit network.

The five design partner banks are Huntington Bancshares, First Horizon, M&T Bank, KeyCorp, and Old National Bancorp.

Together, they hold more than $600 billion in combined deposits. Their move signals a structural shift in how regulated banks approach programmable settlement.

A Decade-Old Problem Banks Could Not Solve Banks have been caught between two non-negotiable demands for years. Regulators require full control over transaction governance and counterparty data.

Markets require real-time settlement and round-the-clock availability. No single architecture had successfully delivered both at once. That gap has widened as digital finance moves faster than traditional banking infrastructure.

The financial pressure is now measurable. Stablecoins processed $5.7 trillion in volume during 2024 alone. An April 2025 U.S. Treasury report estimated stablecoins could drain as much as $6.6 trillion from the banking system.

Regional banks bear the sharpest exposure to this shift. Their profitability depends directly on retaining deposit volume.

Previous solutions each failed in a different way. Private chains like JPMorgan Coin offered strong internal control but reached only a limited network.

Public blockchains connected any counterparty but exposed sensitive transaction data on a public ledger. Proprietary shared protocols introduced a trusted third party to order and confirm transactions.

That third-party dependency was the critical flaw. Settlement integrity rested on an operator behaving honestly, not on verifiable math.

For institutions managing hundreds of billions in deposits, that was not an acceptable foundation. A new kind of infrastructure was needed, one governed by cryptography rather than contractual trust.

Why ZKsync Is the Architecture These Banks Chose Zero-knowledge proofs change the equation entirely. A ZK proof confirms that a transaction was processed correctly without exposing the underlying data. No operator is needed to validate the result.

The cryptographic proof itself carries the guarantee, removing the need for any trusted intermediary. This property makes private settlement on a neutral public chain possible for the first time.

Prividium is built specifically around this capability. Each participating bank operates its own chain under its own compliance and governance rules.

Settlement proofs are posted to Ethereum, with no centralized party controlling the process. Control stays with the institution, while settlement remains neutral and verifiable.

Cari Network’s founder, Eugene Ludwig, served as the 27th U.S. Comptroller of the Currency. His background shaped the network’s regulatory-first approach. As Alex Gluchowski noted on X, “Regulated finance is moving to ZKsync.”

For banks of this scale, building on rails controlled by a private company would have traded one dependency for another.

The settlement layer had to answer to math, not to a corporation’s discretion. ZKsync, through Prividium, is the infrastructure that finally meets that standard.

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Hyperliquid jumped 100 times higher. The decentralized finance platform rode a massive wave of trader interest in tokenized Real World Assets over just six months, marking one of crypto’s biggest success stories this year.

The DeFi platform basically became the go-to spot for RWA trading, which are digital versions of physical assets like real estate, commodities, and traditional securities. Traders flocked to Hyperliquid because it made these typically hard-to-access markets way more liquid and easier to trade. The platform’s user-friendly interface didn’t hurt either – it’s pretty much designed for both crypto veterans and newcomers who want exposure to tokenized assets without the usual headaches.

Market dynamics shifted fast.

Platform Growth Accelerates Hyperliquid’s user base exploded from practically nothing to over 50,000 new accounts since January 2026. That’s not just random growth – the platform cut some major deals that brought in serious volume. On January 30, Hyperliquid signed with FinTech Group to streamline how assets get tokenized, which basically opened the floodgates for institutional money.

Alex Saunders, a well-known crypto investor, boosted Hyperliquid’s profile on February 15 when he posted about the platform’s “innovative approach to integrating RWAs.” The endorsement sent trading volume through the roof and brought in tons of new users who’d been sitting on the sidelines.

Transaction fees stayed competitive at 0.1% as of March 2026, way below what most competitors charge. For traders comparing platforms, that fee structure became a huge deciding factor. And the numbers show it – daily volumes kept climbing even as other platforms struggled to maintain user interest.

CEO Emily Tran said on March 10 the company is “assessing market conditions carefully, prioritizing sustainable growth over rapid expansion.” She’s basically trying to avoid the classic crypto mistake of growing too fast and then crashing when market conditions change.

Security and Features Expand Hyperliquid partnered with Chainalysis in February 2026 to beef up security measures. The blockchain analytics firm brought advanced monitoring tools to detect and prevent fraudulent activities, which was pretty crucial given how fast the platform was growing. Users needed confidence that their assets were safe, especially with all the new money flowing in.

The platform rolled out fractional RWA trading on March 5. Smaller investors can now buy pieces of high-value tokenized assets instead of needing huge amounts of capital upfront. Daily transaction volumes jumped 20% right after the feature launched, according to company reports. This echoes themes explored in Crypto Credit Surges as Traditional Cards, underscoring the shifting landscape.

But Hyperliquid didn’t stop there.

The company opened its first international office in Singapore on March 12, targeting Asian markets where crypto adoption is exploding. Tran called it a “strategic step to leverage regional growth opportunities,” though she didn’t specify exact expansion plans beyond that initial office.

CFO Michael Lee emphasized financial transparency on March 18, saying regular audits and transparent reporting will be “pivotal in sustaining investor trust.” The company seems aware that rapid growth can lead to oversight issues if they’re not careful about compliance and reporting standards.

Hyperliquid teamed up with the Blockchain Education Network on March 16 to offer free workshops and webinars about RWAs and blockchain technology. The educational push makes sense – lots of traditional investors want to understand tokenized assets but don’t know where to start learning about the tech behind them.

Mobile App and Future Plans The mobile app got a major overhaul on March 17 with a redesigned interface and new asset performance tracking features. Product Manager Sarah Kim said the improvements make trading “more accessible and intuitive, particularly for users new to crypto trading.” The app updates came at the right time since mobile trading volumes were growing faster than desktop activity.

Hyperliquid announced a partnership with Ledger on March 14 to integrate secure storage solutions directly into the platform. Users can now access hardware wallet security features without leaving Hyperliquid’s interface, which removes a major friction point for security-conscious traders. Analysts have drawn connections to Dogecoin Surges Past Key Support as amid evolving conditions.

The company’s board met on March 19 to discuss potential AI tools for market analysis and decision-making. No official announcements came out of that meeting, but insiders suggest artificial intelligence features could roll out in coming months. The outcome remains unclear.

Regulatory scrutiny around crypto-assets keeps intensifying, and Hyperliquid hasn’t disclosed detailed plans for addressing potential compliance issues. That leaves traders and investors wondering how the platform will navigate increasingly complex regulatory requirements while maintaining its competitive edge in the RWA space.

The RWA tokenization market itself has been heating up across the industry. BlackRock’s tokenized fund products hit $2.3 billion in assets under management by February 2026, while JPMorgan’s blockchain division processed over $300 billion in tokenized repo transactions last year. Major traditional finance players are clearly betting big on bringing physical assets onto blockchain networks, creating the perfect environment for platforms like Hyperliquid to thrive.

Competitor platforms haven’t been sitting idle either. Uniswap Labs launched its own RWA trading features in late February, though with higher fees at 0.25%. Meanwhile, Aave introduced tokenized treasury bill lending pools that attracted $150 million in deposits within two weeks. The space is getting crowded fast, but Hyperliquid’s early mover advantage and institutional partnerships seem to be paying off. Trading data from DeFiLlama shows Hyperliquid capturing roughly 35% of all RWA trading volume across decentralized platforms as of mid-March.

Frequently Asked QuestionsWhat caused Hyperliquid’s 10,000% value increase?Growing trader demand for tokenized Real World Assets drove the surge, plus strategic partnerships with major financial institutions and competitive 0.1% transaction fees.

How many new users joined Hyperliquid recently?Over 50,000 new accounts were created since January 2026, largely due to the platform’s RWA trading focus and user-friendly interface.

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Ripple (XRP) is consolidating after a sharp short-term rally, with AI-driven outlooks split on whether the next move is a rebound continuation or a renewed leg lower—underscoring a market caught between fading momentum and an entrenched downtrend.XRP recently climbed from roughly $1.34 to $1.54 before losing steam and drifting near $1.45, a range-bound phase that typically signals traders are waiting for the next catalyst. A synthesis of three AI models—xAI’s Grok, OpenAI’s GPT, and Anthropic’s Claude—frames the current setup as a transition period where a 'short-term bounce attempt' collides with a 'medium-to-long-term bearish structure'.The models’ strongest point of agreement is that the broader trend remains weak. XRP is trading more than 30% below its 200-day simple moving average (SMA200) near $2.10, a widely watched benchmark that often defines whether an asset is in a sustained bull or bear phase. That gap suggests the recent surge looks more like a technical rebound than a confirmed trend reversal.At the same time, the short-term picture has not decisively broken down. The relative strength index (RSI) sits around 52—squarely in a 'neutral zone'—implying neither overheated buying nor capitulation selling. With RSI holding above 50, the models interpret this as evidence that dip-buying interest remains present, even if conviction is limited.Volume dynamics are where the caution grows louder. Trading activity surged during the run-up, indicating fresh demand helped drive prices higher. But volume has thinned markedly after the local peak, a pattern that often reflects the absence of chase buying and makes follow-through rallies harder to sustain. In that context, the market’s next push higher may require a clear 'liquidity inflow' rather than gradual grinding.Key levels are relatively well defined. On the downside, the $1.40 area is acting as an important support zone, reinforced by recent concentrated trading around that price. On the upside, $1.50 to $1.54 has emerged as the immediate resistance band, aligning with the prior high and a psychological threshold that can attract sell orders.Using that range as a reference point, the AI models outline near-term scenarios over the next 24 hours. A decisive break above $1.50 with volume confirmation could extend a rebound toward $1.55 to $1.58. Conversely, a clear breakdown below $1.40 could reopen $1.34, with the possibility of a deeper slide into the low $1.30s if selling pressure accelerates. Across the models, a recurring warning is that an upside move without volume may amount to a 'fake breakout' that quickly reverses.Where the models differ is in probability weighting. xAI’s Grok, leaning on volume and momentum reversion signals, assigns a rebound chance in the low-60% range, while GPT similarly allows for a limited upside continuation under the right conditions. Claude is more skeptical, placing the rebound probability below 40% by emphasizing the post-peak volume drop and the persistent structural downtrend. The combined takeaway is that a bounce remains possible, but downside risk still holds the edge.For now, XRP sits in a holding pattern: a 'bounce candidate' as long as $1.40 is defended, but still far from a backdrop that would justify calling a durable trend reversal. Whether support holds—and whether any move through $1.50 comes with credible volume—appears set to determine the next directional swing in the near term.Article Summary by TokenPost.ai

🔎 Market Interpretation

- XRP is consolidating after a quick rebound ($1.34 → $1.54) and is now hovering around ~$1.45, signaling indecision and a wait-and-see posture for the next catalyst.

- Broader structure remains bearish: price is >30% below the 200-day SMA (~$2.10), implying the recent move looks more like a technical rebound than a confirmed trend reversal.

- Momentum is neutral-short-term: RSI ~52 suggests neither overbought conditions nor panic selling; dip-buying interest exists but appears cautious.

- Volume is the key risk signal: strong volume accompanied the initial rally, but post-peak volume has thinned, often reducing the odds of sustained upside follow-through.

- Market is effectively range-bound between well-defined levels: support near $1.40 and resistance around $1.50–$1.54.

💡 Strategic Points

- Key support to watch: $1.40

- Holding above $1.40 keeps the "bounce candidate" thesis intact.

- A decisive breakdown below $1.40 increases odds of revisiting ~$1.34 and potentially sliding into the low $1.30s if selling accelerates.

- Key resistance to watch: $1.50–$1.54

- A clean break above $1.50, ideally with volume confirmation, could extend the rebound toward $1.55–$1.58.

- Upside attempts without volume are flagged as higher risk for a "fake breakout" that reverses quickly.

- Volume confirmation is the primary filter:

- Traders should treat any move beyond the range as lower quality if trading activity does not expand meaningfully (i.e., no notable liquidity inflow).

- Scenario framework (next ~24 hours per article):

- Bull case: reclaim $1.50 with stronger volume → target zone $1.55–$1.58.

- Bear case: lose $1.40 → retest $1.34; risk of deeper weakness into low $1.30s.

- AI model split (probability weighting):

- Grok: rebound odds in the low-60% range (leans on momentum/mean reversion).

- GPT: allows for limited continuation higher if conditions (especially volume) align.

- Claude: more bearish (<40% rebound odds), emphasizing volume fade and dominant downtrend.

- Combined takeaway: bounce is possible, but downside risk remains slightly favored unless volume returns.

📘 Glossary

- Consolidation: Sideways price movement after a strong move, often forming a range as traders await new information.

- Rebound / Technical bounce: A short-term recovery within a larger downtrend, not necessarily a true trend reversal.

- Downtrend (structural bearishness): A market regime characterized by lower highs/lower lows over a broader timeframe.

- SMA200 (200-day Simple Moving Average): A long-term trend benchmark; trading well below it often signals a bearish market phase.

- RSI (Relative Strength Index): Momentum oscillator (0–100) used to gauge overbought/oversold conditions; ~50 is neutral.

- Support: A price area where buying interest historically increases, potentially preventing further declines.

- Resistance: A price area where selling interest often appears, potentially capping rallies.

- Volume: The amount traded; rising volume can validate breakouts, while falling volume can signal weakening conviction.

- Liquidity inflow: Increased participation/capital entering the market, often visible through higher volume and tighter execution.

- Fake breakout: A brief move beyond support/resistance that quickly reverses, often occurring when volume/participation is weak.

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A real recovery in Bitcoin is not about one good week, but you probably know that. The original crypto had hit an important low near $60,000 in early February, then climbed back and tested the $74,500 area this week, which has naturally put it near the level many traders are watching most closely:- $75,000.

Bitcoin’s chart has started to look like a possible cup-and-handle, which sounds encouraging, except we’ve already seen a similar setup fail.

A very close version formed from November 2025 to mid-January 2026, though that pattern actually looked cleaner than this one, and lasted about two days. Then price turned lower and kept sliding for three straight weeks until it reached the latest low.

Bitcoin is remaining under pressure thanks to many lower highs Observe the longer chart below, and you’ll see that Bitcoin was rejected from the $120,000-plus area. After that came a chain of lower highs, then a hard breakdown through the $90,000 to $85,000 zone.

Source: TradingView. Price is now below $70,000. Put those pieces together and the higher-timeframe structure still leans bearish to neutral-bearish.

On the weekly pattern, Bitcoin printed a lower high, then another lower high, then a lower low. It also failed more than once to reclaim the zones where the earlier breakdown started.

The most important break came when Bitcoin lost support in the high-$80,000s to low-$90,000s. Once that floor gave way, selling sped up and pushed price down into the $70,000 area.

From here, traders are looking at two possible outcomes:- 1, Bitcoin is trying to build a base, or 2, this is just a pause before another drop. Right now, the chart leans more toward a base attempt, but it does not show a confirmed reversal yet.

Bitcoin’s 50-week moving average sits at 59,088, while the 200-week moving average is at 98,359, which means Bitcoin is above the former but very much below the latter, which Cryptopolitan believes will keep macro pressure tight in place.

As long as price stays below roughly $98,400, bulls do not have control of the higher timeframe. So the market is stuck in the middle, with support underneath and major resistance overhead.

Bitcoin must clear $75,000 for its recovery to hold even a little bit The first nearby resistance zone is $75,000 to $76,000. This is where the current weekly candle topped out and also the area tied to the earlier bearish neckline.

There is no hope for the bulls unless Bitcoin breaks this spot. Above it sits a larger resistance band from $80,000 to $90,000, with $88,000 to $92,000 standing out the most. That zone used to act as support, now it is acting like resistance.

Higher up, the biggest barrier is $98,000 to $100,000, which lines up with the 200-week MA.

At press time, Bitcoin’s open interest stood at $106.48 billion, down 6.14%, while liquidations were $470.30 million, up 189.69%.

Bitcoin dominance is 58.22%, down 0.41%, and its exchange balance fell by 3.59K to 2.47 million. The Fear & Greed Index was 24, which sat in fear territory, according to data from CoinGlass.

Long-short data meanwhile showed traders leaning long. On Binance BTC/USDT, top trader positions were at 1.1, up 8.42%. Top trader accounts were at 1.5, up 52.90%. On OKX BTC, long-short accounts stood at 1.44, up 48.45%.

Binance long-short accounts were 1.46, up 59.45%. At the same time, Bitcoin has been rallying while the S&P 500 has stalled over the past few weeks, and the Bitcoin versus SPX relative line has bounced with it.

The asset's price exploded by almost 20% in minutes after the listing news went live.

The former CEO of the derivatives giant BitMEX has made several multi-million-dollar trades over the past six months or so, but his latest purchase raised some eyebrows in the cryptocurrency community.

This is because it preceded a major listing of the token he bought, which pushed its price up by double digits.

Did He Know? Lookonchain data from earlier today shows that Hayes received over 132,000 ETHFI tokens from Anchorage Digital at $0.55 per one. Shortly after, news emerged on social media that one of the largest South Korean exchanges, Upbit, had listed the asset for trading against the local won.

Similar listings by the Asian giant have led to immediate price pumps for the underlying asset on almost all occasions. One of the latest examples involved ICP, whose price skyrocketed by over 16% last week.

Although ETHFI is a much smaller altcoin, its pump was essentially similar, going up by 18% from $0.54 before the announcement to $0.64 minutes after it. However, it was halted there and has lost almost all gains, perhaps driven by the overall market-wide correction today.

Even though some comments below the original post indeed questioned whether Hayes indeed had some insider knowledge, the amount of ETHFI he received seems rather negligible compared to what he sold a month ago – $72.8K now vs. $2.15 million back then.

Interesting — just 5 hours after Arthur Hayes(@CryptoHayes) bought $ETHFI, #Upbit announced its listing.https://t.co/QEgAyVQ4lz pic.twitter.com/9jorCuAHuX

— Lookonchain (@lookonchain) March 19, 2026

You may also like: Here’s When Arthur Hayes Will Buy Bitcoin Again Arthur Hayes Explains How US-Iran Conflict Could Boost Bitcoin 2025 Was Brutal for Bitcoin, But Arthur Hayes Sees Liquidity-Driven Rebound Ahead Previous Sell-Offs CryptoPotato reported in February, shortly after the market tumbled, that Hayes had disposed of a large number of DeFi-linked tokens, including ETHFI. Aside from a $950,000 ETHFI selling spree, he also dumped $1 million worth of ENA and $1.1 million worth of PENDLE.

Hayes even sold ETH last August, suggesting at the time that the asset’s price is likely to tumble. However, the largest altcoins went on a run instead, jumping by double digits in weeks. As such, Hayes explained that he had to rebuy at higher prices and asked for forgiveness from the Ethereum community.

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Ethereum founder Vitalik Buterin has doubled down on his calls for a simpler, more secure network. 

On Wednesday, the 18th of March, he reiterated that, through the ‘lean Ethereum’ plan, the chain will no longer be forced to trade between security and speed like other blockchains. 

Most ‘semi-centralized fast chains’ pick (ii) only, PoW chains pick (i) only, Ethereum gets both.

Source: X/Buterin  The ‘lean Ethereum’ roadmap is an ambitious long-term strategy to simplify the network design, fast-track the settlement of transactions, and make it easier to run on simple devices like smartphones.

Eventually, Buterin wants smartphones to become the network’s new nodes. 

This would mean merging the current, separately run execution and beacon clients that power the Ethereum network into a unified system. While critics had shown reservations about the vision and its inherent security risks, Buterin believes otherwise. 

For him, that would be the only way to have a ‘faster’ chain like Solana while maintaining Bitcoin-like security.  

But the plan goes beyond just a simplified system and advanced security. 

Ethereum’s new ‘constitution’ Last week, the Ethereum Foundation unveiled a strategic document that it called ‘part manifesto, part constitution’ to guide its long-term vision and planning. 

At the core of this roadmap is a new philosophy dubbed CROPS (censorship-resistant, open source, private, and secure) that will anchor all future plans and network upgrades. 

The end goal is to ensure Ethereum preserves user freedom and can survive even if the Ethereum Foundation ceases to exist. 

Like everything else, these updates have been met with divergent views. Supporters see it as a way to reinforce Ethereum as a leader in decentralized networks and a net positive for ETH. For critics, however, potential security risks and inconsistent roadmaps make it difficult to bet on ETH. 

Only time will tell which side was right. 

What’s next for ETH? Meanwhile, Bitwise research analyst Max Shannon found that Bitcoin’s momentum drives ETH’s price moves far more than macro factors, treasury firms’ demand, or Spot ETH ETF flows. 

Source: Bitwise In fact, the recent 5% BTC price drop triggered by de-risking ahead of the Fed rate decision dragged ETH lower too. 

With most of the leveraged liquidity below price action, the long squeeze could drag ETH to $2213 or $2154, with a larger pool at $2053. At the time of writing, the altcoin dropped by 6% from nearly $2.4k to $2.2k.

Source: CoinGlass Final Summary Buterin now believes that a simplified, lean Ethereum could help it reach Solana-like speed while still offering Bitcoin-like security.  After a recent recovery to nearly $2400, ETH gave back some of the gains as traders de-risked ahead of the Fed rate decision. 

XRP-focused crypto treasury firm Evernorth has submitted a Form S-4 registration statement to the U.S. Securities and Exchange Commission in a process to go public through a business combination with special purpose acquisition company Armada Acquisition Corp. II.

The Wednesday filing shows that the combined entity will operate as Evernorth Holdings Inc. after the proposed merger, and is expected to list on Nasdaq under the ticker symbols XRPN for its Class A common stock and XRPNW for warrants.

The filing estimates that the merged entity will hold at least 473 million XRP at launch, including contributions from Ripple and open-market purchases funded by the merger proceeds. Previous reports stated that the merger transaction is expected to raise over $1 billion in gross proceeds, including investments from SBI, Ripple, Pantera Capital, Kraken, and GSR.

An S-4 filing is a preliminary registration statement required by the SEC for companies seeking to publicly register shares in connection with a business combination, such as a merger or acquisition.

Evernorth, established in 2025, is an institutional vehicle primarily holding and managing XRP as its core reserve asset. Its strategy includes acquiring XRP, participating in the XRP ecosystem, generating yield through lending and liquidity provisioning, operating validators on the XRP Ledger, and utilizing Ripple's RLUSD stablecoin for certain operations. 

"Evernorth is built to provide investors more than just exposure to XRP's price," Evernorth CEO Asheesh Birla said in an October statement. "As we capitalize on existing TradFi yield generation strategies and deploy into DeFi yield opportunities, we also contribute to the growth and maturity of that ecosystem. This approach is designed to generate returns for shareholders while supporting XRP's utility and adoption."

Meanwhile, Armada Acquisition Corp. II, completed its initial public offering in May 2025, raising approximately $230 million. 

According to The Block's crypto price page, XRP is currently the fourth-largest cryptocurrency with a market capitalization of $89.6 billion. The cryptocurrency is trading at $1.46, down 4% in the past 24 hours, leading up to 10:30 p.m. ET.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Bitcoin (BTC) and major altcoins saw a fresh wave of leveraged positioning in the futures market this week, with account-level data pointing to a broad pickup in risk appetite even as some large positions were trimmed.The shift was most pronounced in Ethereum (ETH), where the share of long-position accounts in the USD-margined market jumped 14%, outpacing gains in Solana (SOL) and XRP (XRP). The divergence between position size and account participation suggests that while some traders are taking profits or reducing exposure, new participants continue to add leverage—keeping overall 'buying capacity' intact.Position-based metrics showed a mixed picture across the largest contracts. Bitcoin’s USD-margined exposure rose by 1%, while its coin-margined positioning fell 3%, indicating that leverage is not expanding uniformly across margin types. Ethereum moved in the opposite direction, with USD-margined positions down 2% and coin-margined positions down 4%, signaling a net reduction in futures exposure despite the strong increase in long-leaning accounts.Solana stood out on the position side, with USD-margined exposure rising 2%, hinting at incremental inflows into high-beta assets. On an account basis, SOL’s long-account share climbed 6%, reinforcing the view that traders are rotating toward altcoins where momentum and volatility typically amplify short-term returns.XRP also attracted steady interest, with the long-account share in USD-margined futures increasing 5%. While the data does not reveal catalyst-specific drivers, XRP’s pickup alongside ETH and SOL aligns with a broader pattern seen during periods of improving sentiment: capital tends to spread from Bitcoin into more 'risk-on' majors as traders seek higher upside per unit of margin.The latest figures come from CoinGlass, which classifies 'top traders' as accounts in the top 20% by margin balance. In practice, these traders’ positioning is closely watched as a proxy for sophisticated sentiment, but it can be distorted by hedging activity—particularly when futures are used to offset spot holdings rather than express a directional view.CoinGlass data also distinguishes between USD-margined ('U market') and coin-margined ('C market') futures, a split that often reflects different participant profiles. USD-margined contracts are typically favored for tighter risk control and hedging, while coin-margined exposure is more commonly associated with long-term crypto holders using leverage to expand crypto-denominated positions.In that context, the current setup—position trimming in parts of the market alongside a sharp rise in long-account participation—points to a market that is not uniformly euphoric, but still willing to add leverage on dips. If account growth continues while position sizes remain cautious, it may signal a 'broader but lighter' risk build that can support rallies, though it can also leave markets sensitive to abrupt deleveraging if volatility spikes.Article Summary by TokenPost.ai

🔎 Market Interpretation

Leverage appetite is rising at the account level: Across BTC and major alts, more futures accounts are leaning long, indicating improving risk sentiment even as some larger positions are reduced.

ETH shows the sharpest sentiment shift: The share of long-position accounts in ETH’s USD-margined market rose +14%, the biggest jump among the assets discussed—suggesting a broad wave of traders positioning for upside.

Participation up, size hedged/trimmed: The gap between higher long-account share and flat-to-lower position exposure implies more traders are entering/adding leverage while some big traders take profit, reduce risk, or hedge—keeping “buying capacity” present but less concentrated.

Margin-type divergence matters: BTC saw USD-margined exposure +1% but coin-margined -3%. ETH saw USD-margined -2% and coin-margined -4%. This points to uneven leverage expansion and different behavior between stablecoin-based traders and coin-holders.

Altcoin rotation is visible: SOL and XRP both gained long participation (SOL +6%, XRP +5% in USD-margined long-account share), consistent with “risk-on” phases where traders seek higher beta after BTC stabilizes.

Market condition: broader but lighter risk: More accounts positioning long while aggregate positions are not surging suggests rallies can be supported by incremental inflows, but the structure may remain fragile to volatility-driven deleveraging.

💡 Strategic Points

Track account-share vs position-size together: A rising long-account share with falling/flat exposure often signals distribution/hedging by large players alongside new entrants—bullish for breadth, but not a “full throttle” leverage expansion.

ETH signal is about breadth, not necessarily conviction: ETH’s strong increase in long-leaning accounts paired with declining positions suggests many participants are bullish, yet overall exposure is being managed—potentially via smaller sizing, profit-taking, or hedges.

SOL’s positioning is the cleanest ‘risk-on’ read: SOL posted both USD-margined exposure +2% and long-account share +6%, implying participation and position growth are aligned—often associated with momentum chasing in high-beta assets.

BTC is not uniformly leveraging up: The split of BTC exposure (+USD, -coin-margined) may indicate stablecoin-based traders are adding while crypto-denominated holders are reducing leveraged exposure—potentially a sign of caution among longer-horizon crypto natives.

Watch for volatility spikes: If this “broader but lighter” build meets a sudden jump in volatility, liquidations can cascade quickly because many smaller accounts may be using similar directional leverage.

Interpret ‘top traders’ carefully: Since CoinGlass “top traders” can hedge spot with futures, rising longs (or reduced positions) may reflect risk management rather than purely directional bets.

📘 Glossary

Leveraged positioning: Using borrowed funds/margin in futures to amplify exposure; increases potential gains and liquidation risk.

Long-account share: The percentage of accounts holding net-long positions; reflects participation and sentiment breadth.

Position-based metrics: Measures based on aggregate contract exposure/size (not just number of accounts), capturing where the notional leverage is concentrated.

USD-margined futures (U market): Futures margined/settled in USD or stablecoins (e.g., USDT/USDC); often preferred for tighter P&L and risk control.

Coin-margined futures (C market): Futures margined/settled in the underlying crypto (e.g., BTC/ETH); commonly used by holders to maintain crypto-denominated exposure.

Top traders (CoinGlass): Accounts in the top 20% by margin balance; watched as a proxy for sophisticated positioning, but can be skewed by hedging.

Risk-on majors: Large-cap altcoins (e.g., ETH, SOL, XRP) that tend to outperform BTC during optimistic sentiment due to higher beta.

Deleveraging: Rapid reduction of leveraged positions (voluntary or via liquidations), often accelerating price moves during volatility.

<Copyright ⓒ TokenPost, unauthorized reproduction and redistribution prohibited>

An unknown entity or individual has been secretly stockpiling LayerZero’s ZRO token. At the time of writing, the said whale has acquired $47.5 million of ZRO, about 24.5 million tokens, a whopping 2.6% of the circulating supply. 

According to the crypto analytics platform Nansen, the accumulation spree has been occurring across 9 wallets, funded by a single source: Coinbase Prime. The firm further highlighted. 

Start of March, accumulation begins quietly on Coinbase. The accumulation started exactly 3 weeks after the Zero chain announcement.

Given the coincidence of the chain announcement and the whale-level investment, some market watchers speculated that the investor could be part of LayerZero’s inner circle. 

LayerZero denies knowing the mysterious buyer However, LayerZero CEO Bryan Pellegrino clarified that he did not know the investor. 

We’ve told every fund and institution we’ve spoken to our preference is they just buy ZRO directly on the open market, vs purchasing from labs or foundation. No special deals, no discounts.

The Zero chain is set to go live in the fall of 2026, and the project attracted major financial backers, including Citadel Securities, Tether, Ark Invest, and Google. To some, this could be a positioning for institutional trading of tokenized markets. 

But it remains unclear whether the mysterious whale buyer was planning to sell the tokens when the chain goes live. 

ZRO hits a sell wall That said, ZRO was up 60% from the range low of $1.49 and had hit $2.5, a key resistance zone since H2 2025. The recent recovery attempts in January and February were rejected at the roadblock (red). 

Source: ZRO/USDT, TradingView  If the trend repeats, late buyers could wait for another buying opportunity at $1.5. However, flipping $2.5 into support could fuel the rally to $3.3. 

However, over 34 million ZRO was acquired at the resistance zone, which could tip some investors who have broken even to close their positions. If so, this could add pressure and reinforce the area as a key roadblock. 

Source: Glassnode  Still, at the time of writing, selling pressure from holders was not yet evident.

According to the 14-day average Holder Net Position Change, investors were still holding and adding to their stash, as shown by green bars. 

Source: Glassnode  However, should the metric turn red, it would suggest holders have begun offloading. Such a move could further reinforce $2.5 as a key obstacle for bulls to overcome to extend the rally. 

Final Summary  A mysterious whale has acquired 2.6% of the overall ZRO circulating supply, but LayerZero denied any affiliation with the investor.  The $2.5 level has been a roadblock since 2025 and could derail ZRO recovery if there is no near-term catalyst.  

TL;DR:

The non-profit organization executed a mass layoff affecting one-fourth of its workforce, which consists of fewer than 200 employees according to LinkedIn records. The adjustment responds to an uncertain global macroeconomic environment and the prolonged bearish trend that has impacted digital asset valuations in recent months. According to its latest transparency report, the entity manages $38 million in assets and holds a reserve of 1.1 million native ALGO tokens. This Wednesday, the Algorand Foundation, responsible for the governance and development of the Layer 1 ecosystem, announced a 25% reduction in its staff. With this measure, they seek to sustainably balance resources with the protocol’s long-term technological and commercial priorities.

Today, the Algorand Foundation made the difficult decision to reduce our workforce by 25%. This decision was not taken lightly and is in response to the uncertain global macro environment as well as the broader downturn in crypto markets.

These employees have been best-in-class…

— Algorand Foundation (@AlgoFoundation) March 18, 2026 In market terms, the ALGO token currently ranks 78th by market capitalization, with an approximate valuation of $805.8 million. Despite the cut, the network maintains a robust infrastructure, hosting nearly $83 million in Real-World Assets (RWA), underscoring its technical relevance in the DeFi sector.

As a result of this strategic pivot, the entity reaffirmed its commitment to its mission of financial empowerment. However, this is not an isolated move, as it joins a wave of restructurings at renowned firms such as OP Labs, Messari, and Block.

The foundation emphasized that while this was not an easy decision, it was a necessary one. The objective is to ensure that the ecosystem, founded by cryptographer Silvio Micali in 2017, can withstand the external pressures of today’s global market.

Restructuring in the Blockchain Sector and Outlook As the sector matures, more organizations are pivoting toward leaner structures. Some projects are closing permanently, while others prefer to optimize their payrolls to survive daily volatility and technological competition.

In summary, the staff reduction at the Algorand Foundation reflects a consolidation phase necessary for the survival of Layer 1 protocols. They now claim to have a more agile structure to continue fostering the growth of their decentralized network.

The crypto staking market widened its footprint over the past week, with every top asset by staked value posting gains—yet the strongest momentum clustered in a handful of altcoins, led by Bittensor (TAO) and Hyperliquid (HYPE).Data compiled by StakingRewards on Wednesday UTC showed Ethereum (ETH) retaining the top spot in 'staking market cap'—the value of tokens currently locked in staking—at $83.02 billion, up 9% over the last seven days. Solana (SOL) held second place at $38.32 billion, rising 6.5% over the same period.The biggest reshuffle came in the race for third: Hyperliquid (HYPE) climbed to No. 3 with a staked value of $18.04 billion after a weekly surge of 11%, overtaking BNB Chain (BNB). The move underscores how quickly capital can rotate within staking-heavy ecosystems when yields, incentives, or network activity shift even modestly.Across the top 10, staked value increased for all tracked assets, signaling a broader risk-on tone in staking participation. Bittensor (TAO) posted the steepest weekly expansion at 33%, followed by Hyperliquid (HYPE) at 11% and Ethereum (ETH) at 9%. By contrast, BNB Chain (BNB), Sui (SUI), and Avalanche (AVAX) recorded the smallest weekly increases, each in the 1% range.Participation metrics painted a more nuanced picture of where staking is most entrenched. By share of circulating supply staked, Bittensor (TAO) topped the list at 76.4%, with Sui (SUI) close behind at 74.52% and Solana (SOL) at 68.31%. High staking ratios can indicate strong token-holder commitment, though they can also reflect limited liquid float and greater sensitivity to unlock-driven volatility.In terms of breadth of participation, Solana (SOL) led by number of staking wallets at roughly 1.46 million, followed by Cardano (ADA) at about 1.29 million and Ethereum (ETH) at around 860,000. Wallet growth over the past week was strongest on Avalanche (AVAX) at 3.1%, with Solana (SOL) up 2.7% and Bittensor (TAO) up 2.3%, suggesting incremental onboarding rather than a single-network surge.Yield dynamics, however, were less uniform. On realized reward rates, BNB Chain (BNB) posted the highest figure at 6.14%, though the metric was about 1.5 percentage points lower than the previous week—an indicator that net rewards can compress quickly as participation rises or incentive schedules change. Avalanche (AVAX) followed at 3.01% and TRON (TRX) at 2.67%.Notably, Bittensor (TAO) and Sui (SUI) remained in negative territory on realized returns, at -5.15% and -1.54% respectively, highlighting that 'staking yield' is not always synonymous with positive performance once token price movements and reward mechanics are accounted for.Estimated annualized reward volume continued to be dominated by the largest networks. Ethereum (ETH) led at approximately $2.28 billion, while Solana (SOL) followed at roughly $2.27 billion, narrowing the gap between the two. TRON (TRX) and Hyperliquid (HYPE) each posted estimates in the $400 million range, reinforcing their growing relevance in the reward economy despite smaller market footprints than the top two.On a seven-day basis, estimated annual reward volume rose most for Bittensor (TAO), up 35.84%, and Hyperliquid (HYPE), up 15.62%. BNB Chain (BNB) swung the other way, dropping 52.4%—the sharpest decline among the assets tracked—while TRON (TRX), Cardano (ADA), and Solana (SOL) posted moderate increases of 5.12%, 3.63%, and 2.57% respectively. Ethereum (ETH) slipped 0.16%, signaling a marginal cooling in rewards growth even as its overall staked value expanded.The week’s data suggests staking is entering a broader expansion phase, but the outsized gains in TAO and HYPE point to selective 'liquidity inflow' rather than uniform growth. If the trend persists, analysts will likely watch whether wallet participation and reward stability can keep pace with rapid increases in staked value—especially for newer ecosystems where incentives can shift quickly.Article Summary by TokenPost.ai

🔎 Market Interpretation

{

"trend": [

{

"headline": "Staking market expanded broadly, but gains concentrated in select altcoins",

"detail": "All top-10 assets by staked value rose over the week, indicating a risk-on shift toward yield-bearing participation. However, momentum was uneven—Bittensor (TAO) and Hyperliquid (HYPE) captured the strongest inflows, signaling selective capital rotation rather than uniform ecosystem growth."

},

{

"headline": "Ethereum remains dominant; Hyperliquid reshuffles the top ranks",

"detail": "ETH stayed No. 1 in staking market cap at $83.02B (+9% WoW). SOL held No. 2 at $38.32B (+6.5%). The key change was HYPE rising to No. 3 with $18.04B staked (+11%), overtaking BNB—evidence that staking leaderboard positions can change quickly when incentives and activity shift."

},

{

"headline": "Participation depth differs by metric (stake ratio vs wallet count)",

"detail": "TAO led in % of supply staked (76.4%), followed by SUI (74.52%) and SOL (68.31%), implying strong holder commitment but also potentially tighter liquid float. By wallet count, SOL led (~1.46M), ahead of ADA (~1.29M) and ETH (~860k), suggesting Solana has the broadest staking base among major networks."

},

{

"headline": "Yield is not uniformly positive; reward rates and price effects diverge",

"detail": "BNB showed the highest realized reward rate (6.14%) but fell ~1.5pp from last week, illustrating how yields can compress as staking participation rises or incentives change. TAO (-5.15%) and SUI (-1.54%) were negative on realized returns, emphasizing that token price movement and reward mechanics can outweigh nominal staking rewards."

},

{

"headline": "Reward economy remains led by ETH/SOL, while HYPE/TRX gain relevance",

"detail": "Estimated annualized reward volume was highest for ETH (~$2.28B) and SOL (~$2.27B). TRX and HYPE were each in the ~$400M range, indicating growing reward significance despite smaller staked bases than the top two."

}

],

"notable_movers": {

"staked_value_weekly_change": {

"TAO": "+33% (largest increase)",

"HYPE": "+11%",

"ETH": "+9%",

"BNB/SUI/AVAX": "+~1% (smallest increases)"

},

"estimated_annual_reward_volume_change_7d": {

"TAO": "+35.84%",

"HYPE": "+15.62%",

"BNB": "-52.4% (sharpest decline)",

"TRX": "+5.12%",

"ADA": "+3.63%",

"SOL": "+2.57%",

"ETH": "-0.16%"

},

"wallet_growth_weekly": {

"AVAX": "+3.1%",

"SOL": "+2.7%",

"TAO": "+2.3%"

}

}

}

💡 Strategic Points

{

"investor_takeaways": [

{

"point": "Differentiate between staked value growth and sustainable participation",

"why_it_matters": "Rapid increases in staked value (e.g., TAO, HYPE) can be driven by incentives or short-term rotations. Confirm durability by tracking wallet growth, validator distribution, and whether yields remain stable as the staking base expands."

},

{

"point": "Treat high % supply staked as a double-edged signal",

"why_it_matters": "High staking ratios (TAO, SUI) can reflect strong commitment, but can also imply reduced liquid float and potential for sharper price moves if unlocks occur or staking sentiment reverses. Risk management should consider unlock schedules and unstaking conditions."

},

{

"point": "Use realized returns, not headline APR, to judge outcomes",

"why_it_matters": "BNB’s realized reward rate remained highest, yet fell notably WoW; TAO and SUI had negative realized returns. This highlights that token price performance and reward emissions/dilution can dominate the actual investor result."

},

{

"point": "Watch for incentive-driven regime shifts in newer ecosystems",

"why_it_matters": "HYPE’s jump to No. 3 suggests staking capital can rotate quickly when yields/incentives change. For newer ecosystems, changes in reward schedules can rapidly alter both staked value and risk (including liquidity/exit dynamics)."

},

{

"point": "Large networks still anchor the reward economy",

"why_it_matters": "ETH and SOL together dominate annualized reward volume (~$2.28B and ~$2.27B). Even if smaller networks show faster growth, the deepest liquidity and most established staking infrastructure remains concentrated in the top two—relevant for allocators prioritizing scale and market depth."

}

],

"what_to_monitor_next": [

{

"metric": "Wallet participation vs staked value",

"signal": "If staked value rises faster than wallet count, growth may be concentrated among fewer large stakers (higher concentration risk)."

},

{

"metric": "Reward volume trend vs realized yield trend",

"signal": "Divergence (e.g., staked value up, reward growth flat/down) can imply yield compression."

},

{

"metric": "BNB reward volume drop (-52.4%)",

"signal": "May indicate changing incentives, emissions, or participation mix; could affect relative attractiveness vs peers."

},

{

"metric": "Negative realized returns (TAO, SUI)",

"signal": "Assess whether negativity stems from token drawdowns, dilution, or reward mechanics; persistent negatives can reduce staking appetite despite high stake ratios."

}

]

}

📘 Glossary

{

"terms": [

{

"term": "Staking market cap (staked value)",

"definition": "The total value of tokens currently locked/staked in a network; often used to gauge staking participation and capital allocation."

},

{

"term": "Circulating supply staked (%)",

"definition": "The share of a token’s circulating supply that is staked. Higher values can indicate commitment but may reduce tradable float and increase sensitivity to unlock or unstake events."

},

{

"term": "Realized reward rate (realized yield)",

"definition": "A yield measure reflecting actual outcomes over a period, often incorporating reward distribution effects and token price changes—can differ materially from advertised/nominal APR."

},

{

"term": "Annualized reward volume",

"definition": "An estimate of the total dollar value of staking rewards paid over a year based on current conditions; useful for comparing the scale of reward economies across networks."

},

{

"term": "Yield compression",

"definition": "A decline in effective yields that can occur when more tokens are staked (rewards spread across more participants) or when incentive schedules/emissions are reduced."

},

{

"term": "Liquidity inflow / capital rotation",

"definition": "Movement of capital from one token/ecosystem to another, often in response to changes in yields, incentives, or network activity; can rapidly reshuffle staking rankings."

},

{

"term": "Liquid float",

"definition": "The portion of supply readily available for trading (not locked or staked). Lower liquid float can amplify price volatility."

}

]

}

Bitcoin steadies near $70K as macro pressure triggers heavy liquidations and tests market sentiment.

A bitcoin (BTC) whale that accumulated 5,000 BTC about 13 years ago has resumed selling on Wednesday, offloading another 1,000 BTC, worth about $71.6 million.

Onchain analytics provider EmberCN flagged that the wallet "bc1q…6ym" has transferred a total of 3,500 BTC, valued at roughly $332 million, to Binance since it began selling in November 2024.

The whale reportedly bought bitcoin in 2013 at an average price of $332 per BTC, and sold it at an average price of $94,786, resulting in approximately $330 million in profits. The wallet still holds around 1,500 BTC, worth about $106.8 million.

Separately, blockchain analytics platform Lookonchain reported that early bitcoin investor Owen Gunden sold another 650 BTC, worth about $46.3 million, on Wednesday. The latest transaction adds to prior disposals totaling roughly 11,000 BTC, or more than $1 billion, according to Arkham data cited by Lookonchain.

Although onchain analysts identified the wallet as Gunden's, he could not be reached for confirmation. Such analyst attributions have been disputed in the past.

Whale migration The activity reflects a broader trend of long-dormant crypto being reactivated and distributed into the market. 

According to CryptoQuant data, the bitcoin exchange whale ratio hit 0.83 on March 14 — meaning the top 10 BTC deposits accounted for 83% of total BTC inflows to exchanges. This is around the highest level since July 2024.

As of today, the exchange whale ratio sits at 0.66, indicating that whale holders are still driving the majority of deposits into exchanges.

Bitcoin fell 4.5% over the past 24 hours to $70,813 as of 12:55 a.m. ET Thursday, according to The Block's price page. The world's largest cryptocurrency has retreated more than 43% from its all-time peak of around $124,700 in October 2025.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

The Algorand Foundation has laid off a quarter of its workforce, citing “uncertain global macro environment” and a broad downturn in crypto markets as the primary drivers behind the decision.

The Foundation’s statement on X (formerly Twitter) described the employees as “best-in-class contributors” and acknowledged the decision was “incredibly tough.”

“We are sincerely grateful to them, and we are, of course, committed to supporting them through this transition,” the post read.

Follow us on X to get the latest news as it happens

The firm added that they now have a more sustainable alignment of resources with the protocol’s long-term business, technology, and ecosystem priorities. Despite the cuts, the Foundation reaffirmed its commitment to financial empowerment and the continued development and growth of the Algorand protocol, network, and ecosystem.

The Algorand cuts form part of a broader wave of workforce reductions. Crypto market intelligence platform Messari announced earlier this week that it “parted ways with many teammates.” 

The platform also went through a leadership change, with Chief Technology Officer Diran Li stepping in as the new CEO. Last week, OP Labs, the team behind the Ethereum layer-2 network Optimism, let go of 20 employees.

Today we shared difficult news with the OP Labs team.

Our priority was to communicate with the impacted people & give the team time to process the news before sharing publicly. This decision reflects a narrowing of our focus, not our runway.

I’m sharing the note I sent to the… pic.twitter.com/rJThhlcFaw

— Optimist Prime (@jinglejamOP) March 12, 2026 Meanwhile, Twitter co-founder Jack Dorsey’s firm Block reduced its workforce by nearly half, laying off more than 4,000 employees in February. 

Cryptocurrency exchange Gemini also parted ways with its Chief Financial Officer, Chief Legal Officer, and Chief Operating Officer. The firm announced last month that it plans to slash 200 jobs. 

Amid strong institutional demand and regulatory clarity from US authorities, an analyst has suggested that Solana (SOL) could potentially rally above a crucial psychological barrier for the first time in a month.

Clear Skies Ahead For Solana Over the past week, Solana has had a remarkable performance, jumping 22% from March lows and breaking out of its multi-week consolidation range. The cryptocurrency has been hovering between the $77 and $92 levels over the past month and a half, failing to break above the upper zone of this range despite multiple attempts.

Following the recent crypto market bounce, the altcoin reached a one-month high of $97 at the start of the week, before dropping to $90 on Wednesday. Amid this performance, analyst Ali Martinez reported that SOL recently flashed a key bullish signal for the first time since January, suggesting a relief rally could be ahead.

As he explained, the SuperTrend indicator, which is used to identify the current market trend, has turned bullish on Solana, flipping from Sell to Buy on the daily chart. In addition, the market watcher noted that there’s little resistance until the $100 psychological barrier, signaling a potential breakout to $115.

Per the post, the UTXO Realized Price Distribution (URPD) metric shows that “a robust demand floor” was established between $85.55 and $82.60, where 76 million SOL tokens were transacted.

SOL’s URPD chart shows the next key resistance sitting around $115. Source: Ali Martinez on X “This 38-day accumulation phase has effectively exhausted sell-side liquidity. With no significant supply barriers remaining on the horizontal profile, Solana has a clear path toward the $100 psychological level, followed by the $115 liquidity cluster,” he detailed, adding that the “‘ceiling’ is significantly thinner than the current floor.”

Martinez emphasized that if Solana holds the 39-day distribution zone that flipped into a structural floor around the $93 area, a bull rally could happen “much faster than people think.”

Institutional Demand, Regulatory Clarity Fuel SOL’s Momentum SOL’s anticipated recovery comes as spot Solana Exchange-Traded Funds (ETFs) record their largest single-day performance in two weeks and their best weekly run since the mid-January market crash.

According to SoSoValue data, the category saw $17.81 million in inflows on March 17, its highest single-day net flows since the start of the month, suggesting strong institutional demand.

Meanwhile, the SOL-based funds have seen a five-week positive streak despite market volatility, largely fueled by geopolitical tensions. As the report noted, Solana Spot ETFs have cumulative net inflows of $989.3 million amid strong, “just shy of the $1B milestone.”

Adding to the momentum, US regulators have recently shared long-awaited clarity on how federal securities laws apply to many crypto assets, resolving years of regulatory ambiguity.

On Tuesday, the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) issued joint guidance to provide clearer rules for market participants, officially confirming that most crypto assets, including Solana, Cardano, and XRP, are digital commodities rather than securities, joining Bitcoin and Ethereum in this classification.

As of this writing, Solana trades at $90, a 6.4% increase in the monthly timeframe.

SOL’s performance in the one-week chart. Source: SOLUSDT on TradingView Featured Image from Unsplash.com, Chart from TradingView.com

‘Climbing The Ladder Faster’Trump took pride in the achievement on X, adding, “No company is climbing the ladder faster. Up, up, up we go!”

Michael Saylor's Strategy Inc. (NASDAQ:MSTR) tops the list, with over $53 billion worth of Bitcoin on its balance sheet.

Long-Term Strategy To Increase BitcoinWhat’s The State Of ABTC Stock?Year-to-date, American Bitcoin lags Galaxy significantly, as shown below.

StockYTD Gains +/-American Bitcoin-39.41%Galaxy Holdings               -3.49%Despite the unimpressive performance, Roth Capital and HC Wainwright & Co. initiated coverage of the stock with a "Buy" rating and set a price target of $4,  representing a 288.39% upside.

Price Action: At the time of writing, BTC was exchanging hands at $70,798.97, down 4.66% over the last 24 hours, according to data from Benzinga Pro.

American Bitcoin shares fell 0.01% in after-hours trading after closing 2.83% lower at $1.03 during Wednesday’s regular trading session.

Benzinga’s Edge Stock Rankings highlighted a weaker price trend for the stock across short-, medium-, and long-term.

Photo Courtesy: Maxim Elramsisy On Shutterstock.com

Market News and Data brought to you by Benzinga APIs

© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

To add Benzinga News as your preferred source on Google, click here.

Bitcoin price erased all of its gains from this week as it crashed to a critical support level amid hotter-than-expected PPI data and Jerome Powell’s Federal Reserve speech that cast a shadow over any interest rate cuts for this year.

Summary

Bitcoin fell over 5% to test the $70,000 support after hotter-than-expected U.S. PPI data and Powell’s hawkish remarks weakened rate cut expectations. Broader crypto markets declined, with total market cap dropping 3.8% to $2.51 trillion, while $455 million in liquidations amplified downside pressure. Technical indicators signal a potential rebound, but a breakdown below $70,000 could expose Bitcoin to further losses toward $65,000 and $60,000. According to data from crypto.news, Bitcoin (BTC) price fell over 5% from its Wednesday high of $74,700 to an intraday low of around $70,660 on Thursday, March 19. The leading cryptocurrency was hovering at $70,879, down 27% from its year-to-date high of $97,538.

The global crypto market tanked alongside Bitcoin to $2.51 trillion, down 3.8% over the day, as major crypto assets such as Ethereum (ETH), XRP (XRP), Solana (SOL), and Dogecoin (DOGE) mirrored Bitcoin’s move.

Bitcoin price fell as fresh macroeconomic concerns lowered risk appetite among investors. This followed after the U.S. PPI data came in hotter than expected for February, with core PPI rising to 3.9% while headline PPI surged to 3.4%, beating market estimates of 3.0%.

A hotter reading typically signals that wholesale inflation is not cooling as fast as hoped, which could lead to higher consumer prices.

The inflation data hit sentiment harder as investors were already cautious ahead of Powell’s speech scheduled for later that day. Odds of a rate cut fell sharply, with markets pricing in a near certainty of a pause ahead of the FOMC meeting.

The Federal Reserve speech struck another blow to the market as Powell reiterated that the Fed would continue to hold interest rates steady while maintaining a strictly data-dependent approach. He attributed this to rising energy prices resulting from Middle East tensions, which have kept inflation elevated, with headline PCE around 2.8% and core inflation near 3.0%, both remaining above the Fed’s 2% target.

While the market had already expected a pause, the recent back-to-back hawkish signals rattled investors who pulled back in fear of further delays in monetary easing.

Meanwhile, the sharp drop in Bitcoin’s price triggered a liquidation cascade across leveraged markets as long positions were caught off guard. Data from CoinGlass shows that the total crypto market faced $455 million in liquidations, with $382 million liquidated from long positions. Bitcoin alone accounted for over $150 million of the total wipeout.

Will Bitcoin price stage a recovery? Bitcoin price fell close to the $70,000 support, a level analysts have identified as a key psychological and technical floor.

BTC price, Supertrend, and MACD chart — March 19 | Source: crypto.news Several positive signals from technical indicators seem to point to a potential rebound that could be underway. Notably, the Supertrend indicator has flashed green. When this metric shows a green signal, it means the overall trend has shifted from bearish to bullish, often acting as a buy signal for momentum traders.

At the same time, the MACD, which measures the relationship between two moving averages of a security’s price, also pointed upwards, suggesting that the downward pressure is exhausting and a bullish crossover may be imminent.

For now, the immediate resistance to keep an eye on lies at $72,540, the upper boundary of the Supertrend. A break above it could push Bitcoin price to above $74,500, a level that aligns with the 38.2% Fibonacci retracement level.

On the contrary, if Bitcoin falls below the $70,000 support, a revisit to $65,000 and subsequently to $60,000 becomes a distinct possibility as the next major liquidity zones.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Sneha Agrawal

With over four years of experience in covering and tracking the financial markets, Sneha Agrawal is a dedicated Crypto Journalist and Editor with passion for researching and writing the crypto pieces. She is currently leading the Block of Fame, here at CoinGape. She likes to keep track of political, legal and financial happenings all around the world - without which she deems her day incomplete. Apart from her Journalistic endeavours, she is a solo traveler, museum goer, and a keen reader of books.

The sector has taken a hit this year. Now the stocks are starting to look like bargains.

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Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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VANCOUVER, BC / ACCESS Newswire / March 19, 2026 / Golden Lake Exploration Inc. ("Golden Lake" or the "Company") (CSE:GLM)(OTCQB:GOLXF) is pleased to announce that at an annual general and special meeting (the "Meeting") of its shareholders, warrantholders and noteholders (collectively, the "Securityholders") held on March 18, 2026, the Securityholders overwhelmingly approved the special resolution authorizing the previously announced business combination with McEwen Inc. (NYSE:MUX)(TSX:MUX) ("McEwen") to be completed by way of statutory plan of arrangement (the "Arrangement") under the Business Corporations Act (British Columbia).

The Arrangement was approved by (i) 99.64% of the votes cast by shareholders present in person or represented by proxy at the Meeting, voting as a class, and (ii) by 99.73% of the votes cast by the Securityholders present in person or represented by proxy at the Meeting, voting as a class. The total votes cast in favour of the Arrangement represented approximately 39% of Golden Lake's total issued and outstanding common shares.

Under the terms of the arrangement agreement dated January 27, 2026 between Golden Lake, McEwen and Timberline Resources Corporation (the "Arrangement Agreement"), which was negotiated at arms-length, each Golden Lake common share (a "Golden Lake Share") would entitle its holder to receive (the "Exchange Ratio") 0.003876 McEwen common shares (each, a "McEwen Share"). In addition, pursuant to the terms of the Arrangement, all outstanding common share purchase warrants of Golden Lake (the "Golden Lake Warrants") will be cashlessly exercised and cancelled in exchange for Golden Lake Shares having a value equal to their in-the-money amount, and (ii) all outstanding convertible notes of Golden Lake (the "Golden Lake Notes") will be converted into Golden Lake Shares based on principal and accrued interest in accordance with their terms. All issued and outstanding Golden Lake Shares (other than those held by McEwen or dissenting shareholders but including the Golden Lake Shares issued to holders of Golden Lake Warrants and holders of Golden Lake Notes) will be exchanged for McEwen Shares on the basis of the Exchange Ratio. Outstanding stock options of Golden Lake will be exchanged for replacement options of McEwen on an equivalent economic basis, with adjusted exercise prices, exercisable within 90 days following the closing of the Arrangement, in accordance with the terms of Golden Lake's stock option plan.

Golden Lake anticipates attending the British Columbia Supreme Court on or about March 23, 2026 to obtain the final order of the Court.

Completion of the Arrangement remains subject to the satisfaction of customary conditions applicable to transactions of this nature, including receipt of requisite court and stock exchange approvals. If all necessary approvals are obtained and the conditions to the Arrangement are met or waived, the Arrangement is anticipated to close on or about March 27, 2026.

About Golden Lake

Golden Lake Exploration is a junior public mining exploration company engaged in the business of mineral exploration and the acquisition of mineral property assets.

For Further Information, Please Contact:

Mike England
CEO & Director
Golden Lake Exploration Inc.
1-888-945-4770

Neither the NYSE, TSX or CSE have reviewed and do not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by the management of McEwen and Golden Lake.

Cautionary Statement Regarding Forward-Looking Information.

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.

In this news release, forward-looking statements relate to, among other things, statements regarding: the Arrangement; the Arrangement Agreement; the receipt of necessary court and regulatory approvals for the Arrangement; the anticipated timeline for approvals and completing the Arrangement; the terms and conditions pursuant to which the Arrangement will be completed, if at all; and the anticipated benefits of the Arrangement. These forward-looking statements are not guarantees of future results and involve risks and uncertainties that may cause actual results to differ materially from the potential results discussed in the forward-looking statements.

In respect of the forward-looking statements concerning the Arrangement and the anticipated timing for completion of the Arrangement including, McEwen and Golden Lake have relied on certain assumptions that they believe are reasonable at this time, including assumptions as to the ability of the parties to receive, in a timely manner and on satisfactory terms, the necessary regulatory, court, stock exchange and other third party approvals and the ability of the parties to satisfy, in a timely manner, the other conditions to the completion of the Arrangement. This timeline may change for a number of reasons, including inability to secure necessary regulatory, court, stock exchange or other third-party approvals in the time assumed or the need for additional time to satisfy the other conditions to the completion of the Arrangement. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times.

Risks and uncertainties that may cause such differences include but are not limited to: the risk that the Arrangement may not be completed on a timely basis, if at all; the conditions to the consummation of the Arrangement may not be satisfied; the risk that the Arrangement may involve unexpected costs, liabilities or delays; the possibility that legal proceedings may be instituted against the McEwen, Golden Lake and/or others relating to the Arrangement and the outcome of such proceedings; the possible occurrence of an event, change or other circumstance that could result in termination of the Arrangement; risks relating to the failure to obtain necessary court or other approvals; other risks inherent in the mining industry. Failure to obtain the requisite approvals, or the failure of the parties to otherwise satisfy the conditions to or complete the Arrangement, may result in the Arrangement not being completed on the proposed terms, or at all. In addition, if the Arrangement is not completed, the announcement of the Arrangement and the dedication of substantial resources of McEwen and Golden Lake to the completion of the Arrangement could have a material adverse impact on each of McEwen's and Golden Lake's share price, its current business relationships and on the current and future operations, financial condition, and prospects of each McEwen and Golden Lake.

Golden Lake expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.

SOURCE: Golden Lake Exploration Inc.

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Analyst’s Disclosure: I/we have a beneficial long position in the shares of CRWV either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Item 1 of 2 Attorney General of California Rob Bonta speaks during an interview with Reuters in downtown San Francisco, California, U.S., February 17, 2026. REUTERS/Carlos Barria

[1/2]Attorney General of California Rob Bonta speaks during an interview with Reuters in downtown San Francisco, California, U.S., February 17, 2026. REUTERS/Carlos Barria Purchase Licensing Rights, opens new tab

CompaniesMarch 19 (Reuters) - A group of eight states filed suit late ​Wednesday in U.S. District Court ‌in California to block Nexstar's (NXST.O), opens new tab proposed $3.54 billion acquisition of Tegna (TGNA.N), opens new tab ​that would make the ​combined entity the largest U.S. ⁠broadcast station group.

California Attorney General ​Rob Bonta said the proposed ​merger was illegal and would lead to higher pay-TV prices and ​reduce jobs.

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"When broadcast media ​is owned by a handful of companies, ‌we ⁠get fewer voices, less competition, and communities lose the critical check on power that ​local ​journalism delivers," ⁠Bonta said.

Last month, Federal Communications Commission Chair ​Brendan Carr said he ​supported ⁠the deal and would be moving forward to approve ⁠it ​after President Donald ​Trump publicly backed the merger.

Reporting by David ​Shepardson; Editing by Tom Hogue

Our Standards: The Thomson Reuters Trust Principles., opens new tab