Market Signal Briefing

TL;DR

Hyperliquid’s HIP-3 markets surpassed $1.26 billion in daily open interest on March 9, a sharp increase from around $500 million one month earlier. The surge reflects growing demand for tokenized commodities and macro-linked assets traded through decentralized perpetual futures. Rising activity also boosts platform revenue and strengthens the buyback mechanism tied to the HYPE ecosystem, reinforcing bullish expectations among several industry observers.
Hyperliquid’s HIP-3 ecosystem has crossed the $1 billion threshold in daily open interest, highlighting the growing relevance of decentralized derivatives infrastructure. On March 9, open interest across HIP-3 markets climbed to around $1.26 billion, reflecting strong growth compared with the previous month.

The jump in activity shows how traders increasingly use on-chain perpetual futures to gain exposure to a broader range of assets. While Hyperliquid initially gained traction among crypto traders, the platform now supports multiple asset classes through tokenized markets.

Hyperliquid HIP-3 Expansion Drives New Trading Activity HIP-3, or Hyperliquid Improvement Proposal 3, allows users who stake at least 500,000 HYPE tokens to launch perpetual futures markets without centralized approval. This structure introduces a permissionless listing system that expands the number of tradable assets available on the platform.

As a result, Hyperliquid has evolved beyond a crypto-only trading venue. The platform now supports contracts linked to commodities, stock indices, and other tokenized real-world assets.

Commodity-linked markets have become particularly active. Tokenized contracts tied to crude oil and precious metals have attracted significant trading volumes as global macro uncertainty increases volatility in traditional markets. Data cited by Bloomberg indicates that the perpetual contract tracking WTI crude oil generated more than $1.2 billion in 24-hour trading volume, making it one of the most active markets on the exchange.

Higher trading activity also increases platform revenue. These fees feed the Hyperliquid Assistance Fund, a mechanism that carries out buybacks connected to ecosystem growth. Blockchain analytics platform Hypurrscan shows the fund surpassing $1.3 billion in cumulative buybacks during the first week of March.

Revenue Momentum Strengthens Outlook For HYPE The growth of HIP-3 markets has drawn attention to the HYPE token’s long-term outlook. As trading volume increases, the buyback mechanism may create additional demand for the asset.

Crypto investor and BitMEX co-founder Arthur Hayes recently shared a bullish projection for HYPE. In a research post titled “Hype Man,” Hayes suggested the token could reach $150 by August 2026 if platform revenue continues to expand.

His model estimates revenue rising from roughly $843 million in March to about $1.4 billion later in the year. The projection also considers the potential launch of HIP-4, a proposal that may introduce permissionless prediction markets on the platform.

Bitcoin’s (BTC) recent recovery above $71,000 suggests that the price bottom is officially in, and bullish momentum can be seen across the crypto market. TOTAL2, which tracks the market cap of all crypto assets excluding Bitcoin, has held support at its 200-week moving average, but is an altcoin season in the making?

The divergence between Bitcoin’s rally and the muted altcoin price action is beginning to draw attention to altseason indicators, raising the question of whether the broader market may soon follow BTC’s lead.

TOTAL2 tests long-term support just below $1 trillionThe TOTAL2 market cap peaked near $1.7 trillion in October 2025 but currently sits at $970 billion, a drawdown of roughly 43%. The decline accelerated in January after the market cap broke a three-year ascending trendline near $1.15 trillion.

Market attention has now shifted to the higher-timeframe support. On the weekly chart, the TOTAL2 market cap trades close to its 200-week moving average near $900 billion, a level that held during market corrections in September 2024 and April 2025.

Weekly TOTAL2 market cap chart. Source: Cointelegraph/TradingViewThe daily chart shows consolidation beneath the former trendline and the $1.1 trillion to $1.25 trillion resistance band, a zone that previously held large liquidity clusters.

The altcoin positioning metrics align with the drop in TOTAL2. CryptoQuant data highlighted that 36.8% of altcoins are trading near their historical lows, excluding Bitcoin, Ether (ETH), and stablecoins.

Percentage of altcoins near ATL. Source: CryptoQuantThese elevated readings appear when capital concentrates in larger assets. XWIN Research said that spot Bitcoin ETF inflows and the growing number of tokens have intensified competition for liquidity across smaller assets over the past year.

Average altcoin performances near cycle lowsData from CryptoQuant outlined how deeply altcoins have underperformed Bitcoin. The average altcoin trades 44.4% below its 200-day simple moving average (SMA), a level historically seen near bear-phase bottoms.

Average altcoin and Binance-listed token performance relative to 200D-SMA. Source: CryptoQuantThe exchange data shows similar weakness. Only 4.59% of Binance-listed altcoins trade above their 200-day SMA, confirming a strong Bitcoin-led phase.

The altcoin expansion typically begins with Ether’s (ETH) leadership. The ETH/BTC pair has not established an uptrend and continues to trade inside a descending channel on the weekly chart.

A move above 0.036 may mark the first break of the channel’s local resistance and signal improving relative strength for ETH. A stronger shift in capital rotation could emerge if the pair reclaims 0.043, a level that previously acted as resistance before the broader decline in 2025.

ETH/BTC one-week chart. Source: Cointelegraph/TradingViewUntil these levels are reclaimed, Bitcoin-led momentum continues to dominate the recovering crypto market.

Market analysts are also debating whether the next altcoin cycle will resemble past rallies. Bitwise Chief Investment Officer Matt Hougan recently said that future altcoin seasons may not lift the entire market equally, arguing that the capital will most likely be concentrated in projects with stronger adoption and real-world applications.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.

Sonic price forms bullish RSI divergence near the value area low. Holding $0.03 support could trigger a corrective rally toward $0.04 resistance.

Summary

Bullish Signal: RSI divergence forming near the value area low. Key Support: Price must hold $0.03 and the 0.618 Fibonacci level. Upside Target: Potential rally toward $0.04 high-timeframe resistance. Sonic (S) is currently trading at a critical technical level where early signs of a potential trend reversal are beginning to emerge. After an extended period of downside pressure, the token is now showing bullish RSI divergence around the value area low, a level that has historically attracted buying interest.

This divergence suggests that while price has been printing lower lows, the Relative Strength Index (RSI) has started to form higher lows. In technical analysis, this type of momentum shift often signals that bearish pressure may be weakening and that the market could be preparing for a potential corrective rally.

Sonic price key technical points Bullish Divergence: RSI forming higher lows while price prints lower lows. Key Support: Sonic holding critical support near $0.03. Upside Target: Holding support could open a move toward $0.04 resistance. SUSDT (4H) Chart, Source: TradingView Sonic’s recent price action highlights a potential shift in momentum as the market attempts to stabilize after a prolonged decline. The most notable signal on the chart is the presence of a bullish RSI divergence, which has developed near the value area low. This technical formation occurs when price continues to move lower while momentum indicators begin trending higher, suggesting that selling pressure may be gradually fading.

Bullish divergences are commonly observed during the late stages of a downtrend. As the market approaches key support levels, sellers begin to lose momentum while buyers start stepping in at discounted prices. This gradual shift in control between sellers and buyers can often lead to a reversal or, at the very least, a corrective bounce.

In Sonic’s case, the $0.03 level has now emerged as a critical support zone. This level represents an area where buyers have begun defending price, preventing further downside expansion in the immediate short term. The market’s ability to hold above this level will likely determine whether the current bullish divergence develops into a sustained rally or simply results in a temporary relief bounce. 

Meanwhile, Sonic Labs has launched USSD, a USD-pegged stablecoin backed by tokenized U.S. Treasury assets, adding a new source of stable liquidity to the Sonic blockchain ecosystem.

Another key technical factor supporting the potential for a reversal is the 0.618 Fibonacci retracement, which aligns closely with the current support structure. The 0.618 Fibonacci level is widely recognized in technical analysis as an important retracement level where markets frequently experience reversals or strong reactions.

When Fibonacci levels align with other technical indicators, such as value areas or support zones, they often create strong areas of technical confluence. In this case, the combination of the value area low, Fibonacci support, and bullish RSI divergence strengthens the probability that the market could attempt a corrective move higher. 

Meanwhile, Sonic Labs is entering a new phase under CEO Michael Demeter, who has outlined a long-term roadmap aimed at reshaping how the layer-1 blockchain generates and sustains value.

However, confirmation of this reversal will depend heavily on price behavior in the coming sessions. If Sonic continues to hold above the $0.03 support, it would reinforce the bullish divergence and increase the probability of a structural shift in market behavior.

A successful defense of this support could allow price to rotate higher toward the next major technical barrier, which sits near the $0.04 high-timeframe resistance. This level represents the next area where sellers may attempt to regain control of the market.

From a market structure perspective, a rally toward $0.04 would represent the first meaningful higher high following the recent downtrend. Such a move could signal the early stages of a broader recovery phase if buying momentum continues to strengthen.

What to expect in the coming price action Sonic is currently positioned at a key technical inflection point as bullish RSI divergence develops near the value area low. As long as price holds above the $0.03 support and respects the 0.618 Fibonacci retracement, the probability increases for a corrective rally toward $0.04 resistance.

A break below $0.03, however, would invalidate the bullish setup and suggest that bearish momentum remains dominant.

Bitcoin held near $70,000 on Tuesday as sentiment and ETF inflows improved following signals that tensions with Iran could ease.

Notable Statistics:

Coinglass data shows 99,391 traders were liquidated in the past 24 hours for $386.23 million. SoSoValue data shows net inflows of $167 million from spot Bitcoin ETFs on Monday. Spot Ethereum ETFs saw net outflows of $51.3 million. In the past 24 hours, top gainers include Render, Kaia and Artificial Superintelligence Alliance. Notable Developments:

Trader Notes: CrediBULL Crypto noted that Bitcoin has returned to the top of its trading range, where supply is concentrated.

If the market fails to break above this level, it could trigger another rejection. He warned traders to be cautious with lower-timeframe long positions, as a rejection could lead to a short-term pullback across the broader crypto market.

Trader Crypto Kaleo compared the current environment to the 2022 bear market bottom. At that time, Bitcoin spent nearly two months trading below its 2017 all-time high, an unprecedented situation that led many investors to believe the industry was finished following the collapse of FTX.

Kaleo said the market is showing similar signs today. Since mid-2025, crypto has underperformed many traditional assets, with Bitcoin again trading below previous cycle highs while altcoins struggle even more.

According to Kaleo, this pessimism and loss of confidence often appear near market bottoms, suggesting long-term investors should remain patient rather than exit the market.

Image: Shutterstock

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Most traders are watching Dogecoin on the daily or weekly chart, reacting to intraday price action. However, the monthly candlestick chart tells a different story, one that has been developing since the 2021 cycle and is now approaching an inflection point. 

Technical analysis shows a massive bullish pennant is forming on the DOGE/USD monthly timeframe. Dogecoin is now at a lower high support in the pennant, and the technical implications are significant.

Giant Pennant Has Been Forming Since The 2021 Rally The monthly chart shows Dogecoin’s price compressing between two converging trendlines, forming what appears to be a large bullish pennant. The structure begins with the flagpole: the near-vertical surge that launched Dogecoin from below $0.01 to its all-time high of $0.73 in May 2021. 

Since that peak, DOGE’s price action has been forming a symmetrical triangle on the monthly chart, a series of lower highs and higher lows converging steadily toward an apex. The upper boundary slopes downward from the peak reached during the 2021 surge, creating a descending resistance line that has rejected several major rallies since then.

Source: Chart from TheMoonHailey on X The lower boundary, on the other hand, rises gradually from the base that formed once the previous rally cooled to create a higher low. The lower trendline has provided consistent support, and critically, it held last month when the price tested the $0.08 zone.

As shown in the Dogecoin monthly candlestick chart below, these two lines have created a triangular formation that has continued to narrow since 2021. Multiple turning points on the chart show price reacting precisely at these boundaries, and the structure has been respected repeatedly over time.

One of the most important details in the chart is the most recent interaction with the lower trendline. Dogecoin dipped to the rising support boundary in February and bounced. That rebound occurred around the same area where Dogecoin has been trading recently, just below the $0.09 level. 

At the time of writing, Dogecoin is trading at $0.094, still close to the support. Holding this support and closing above it in March is important for the structure because a bullish pennant depends on price remaining inside the converging boundaries. If DOGE were to close the month below the lower trendline, then the bullish outlook would weaken.

On the other hand, the bullish outlook depends on Dogecoin breaking above the upper end of the bullish pennant. The measured move target of a bullish pennant is calculated from the height of the flagpole, projected from the breakout point. Given the scale of Dogecoin’s 2021 flagpole, even conservative projections point well above $1, with upper-range targets in the $3 to $4 territory.

However, there is still much work to do for DOGE to return to the upper trendline before a breakout. Particularly, Dogecoin needs to push above $0.32 and close consecutive months above this level.

DOGE trading at $0.09 on the 1D chart | Source: DOGEUSDT on Tradingview.com Featured image from Pixabay, chart from Tradingview.com

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SolanaFloor returns under Jito Foundation, resuming independent Solana coverage after its abrupt 2026 shutdown and Step Finance fallout.

SolanaFloor is officially back online after its abrupt closure earlier this year. The platform, known for independent coverage of on-chain activity across the Solana ecosystem, was acquired by the Jito Foundation. This move ensures SolanaFloor can resume operations while maintaining full editorial independence, addressing the gap left by its sudden shutdown.

The platform originally announced a wind-down in February 2026 following an exploit linked to its parent organization. Attempts to secure external financing or acquisition options initially failed, leaving the Solana community without a trusted source of news and analysis. Now, under the stewardship of the Jito Foundation, SolanaFloor aims to continue its mission of documenting the ongoing growth and evolution of Solana.

Editorial Independence and MissionWhile SolanaFloor now operates under Jito Foundation ownership, all editorial decisions will remain independent. This includes story selection, data presentation, and coverage priorities. 

Brian Smith, President of Jito Foundation, emphasized, “When SolanaFloor went dark, the ecosystem lost something difficult to replace. This acquisition is about filling the gap with a platform that operates from a position of editorial independence.”

The platform’s mission is clear, providing unbiased research and journalism on the Solana ecosystem. With spot $SOL ETFs surpassing $1 billion in assets under management, the chain is experiencing gradual institutionalization. Additionally, new DeFi tools and integrations continue to emerge, making independent coverage more critical than ever.

Step Finance Hack and Industry ChallengesThe shutdown of SolanaFloor was part of a wider fallout from the Step Finance treasury breach in January. Roughly $40 million in SOL tokens were drained from the ecosystem, forcing Step Finance and affiliated platforms, including Remora Markets and SolanaFloor, to cease operations temporarily. Blockchain security firm CertiK confirmed that more than 261,854 SOL tokens were unstaked and transferred during the attack.

Security incidents like this highlight persistent vulnerabilities across the crypto sector. According to a Chainalysis report, hackers stole about $3.4 billion in cryptocurrency in 2025, with North Korean groups alone responsible for $2.02 billion of stolen funds. Large-scale breaches, including a $1.4 billion hack of Bybit, accounted for the majority of losses, emphasizing the ongoing need for vigilant security measures.

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Izabela Anna is a knowledgeable freelance journalist, who boasts over five years of experience covering the cryptocurrency market. Her tenure has seen her navigate through the ebbs and flows of multiple market cycles, giving her a deep understanding within. Her journalistic focus lies in dissecting price action dynamics, scrutinizing the on-chain landscape, and providing insights from a technical perspective, making her a trusted voice in the realm of cryptocurrency reporting.

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Elon Musk is preparing to bring banking functions directly into X through X Money, a native wallet and payments system now running in closed beta. Early access is expected next month, and traders are watching closely as speculation grows around future Dogecoin support.

Musk described X Money to employees as “the place where all money is” and “the central source of all monetary transactions.” The rollout marks a public step in a payments vision he has spoken about since taking over the platform.

The product arrives as Musk-linked projects attract broader market attention. As we reported, Elon Musk’s SpaceX may pursue a $50 billion IPO that could reach a $1.5 trillion market value after a merger with xAI, according to IndexBox

How X Money Functions Inside the PlatformX Money is a custodial wallet integrated directly with X accounts. It is designed for peer-to-peer transfers, bill payments, and future financial products. An internal brief shared among X commentators describes features such as direct bill pay and tools for savings, lending, and investment.

Creators may also receive their subscription earnings and tips into their X balance. This balance can be spent within the platform without routing funds through a bank account.

The company has prepared regulatory and banking infrastructure. X has secured more than 40 U.S. money transmitter licenses, registered with FinCEN, and partnered with Visa Direct to move funds between banks and the in-app wallet. These steps position X Money as a payments product inside a network of more than 600 million monthly users.

The initial rollout will focus on fiat payment flows. Musk and the X team have stated that broader asset support will arrive later, including Bitcoin, Ethereum, and Dogecoin.

Crypto Plans and the Growing Dogecoin NarrativeThe launch focus is on traditional currency for now. Yet multiple statements from Musk and internal materials indicate long-term interest in crypto integration. The company plans to support major assets and keep expanding as X Money grows.

Musk has said, “If it involves money, it’ll be on our platform.” Analysts argue that integrating BTC, ETH, or DOGE at social media scale could create a new on-ramp for digital assets. They also say a native stablecoin or payment rail could reshape competition with exchanges and fintech platforms.

This expectation has fueled new attention on Dogecoin. Musk has supported the asset for years, and traders believe even partial integration could change demand patterns. Market commentary frames the April launch of X Money as a moment that could influence Dogecoin sentiment during early testing.

DOGE Price Forecast as Support HoldsDogecoin price is trading around $0.0956, up about 4.75% in 24 hours, after climbing from the $0.0910–$0.0915 zone earlier in the day. During the rally, the DOGE 24-hour volume soared by 62.2% to $1.96B, while the market cap also soared by 16% to $16.2B. 

With Elon Musk confirming that X Money will enter early access next month, traders are speculating that Dogecoin may eventually be added as a payment option on the platform due to Musk’s long-standing support for the asset. 

Source: X

This expectation has revived a bullish narrative around DOGE, and market participants are treating the current price zone near $0.099 as an accumulation area. If the integration story develops further, traders are watching upside levels at $0.120, $0.150, $0.178, and $0.205 as possible targets during the next market push.

Ethereum is approaching a technical level that analysts say could shape the next market move. At the same time, liquidation data shows a large concentration of short positions sitting just above the resistance zone.

Ethereum Approaches $2,100 Breakout Level as Resistance Thins AboveA chart shared by analyst CW shows Ethereum approaching a key resistance level near $2,100. The level has acted as a ceiling during recent trading sessions, where price repeatedly slowed after approaching the area.

Ethereum 1-Hour Chart. Source: CW

According to the chart, the zone around $2,100 marks the first major barrier for the current structure. Once price reaches that level, traders often watch whether the market can hold momentum and move through it. Breakouts above such levels usually depend on sustained buying pressure and strong volume.

The analysis also highlights that resistance becomes much thinner above this point. CW notes that if Ethereum clears the $2,100 level, the next significant resistance zone does not appear until roughly $2,350. That gap between levels can sometimes allow price to move more freely before encountering the next supply area.

Below the current structure, the chart identifies support zones around the $1,930 to $1,970 range. These areas previously attracted buying interest during recent pullbacks. If Ethereum fails to break the upper resistance, traders may watch these levels as the next support regions.

For now, Ethereum remains positioned just below the key breakout level. Market participants are therefore monitoring whether price can move through the $2,100 resistance and test the higher zone highlighted on the chart.

Ethereum Liquidation Map Shows Heavy Short Cluster Near $2,130Meanwhile, a liquidation map shared by Blave highlights a large cluster of short liquidations near the $2,130 level on Ethereum. The chart shows where leveraged positions could be forced to close if price moves into that zone.

Ethereum Liquidation Map. Source: Blave

Liquidation maps track areas where traders using leverage may face forced exits. When price reaches these levels, exchanges automatically close positions that no longer meet margin requirements. As a result, these zones can trigger rapid market moves as multiple liquidations occur at once.

The chart indicates that the largest short liquidation volume sits around $2,130. If Ethereum moves toward that level, it could trigger a cascade of short liquidations. Such events often add buying pressure because short positions must be closed by purchasing the asset.

In addition, the liquidation map shows a buildup of open interest on both sides of the market. However, the short cluster around $2,130 stands out as the most concentrated level above the current trading range. Traders frequently monitor these clusters because they can act as magnets for price movement.

For now, the liquidation data highlights $2,130 as a key zone where leveraged short exposure is concentrated. If price approaches that region, the market may experience increased volatility as positions begin to unwind.

TL;DR:

Resilience at critical levels: Bitcoin maintains support between $60,000 and $64,000 following the geopolitical impact in Iran and an NFP report showing a loss of 92,000 jobs. Leverage purge: The Leverage Reset Index (LRI) drops to a multi-year low of 0.32, shifting the price driver from derivatives toward spot demand. Whale accumulation: While the retail sector capitulates, entities with more than 1,000 BTC have increased their positions by 8% since the October highs. On Tuesday’s session, Bitcoin shows renewed strength, defining the $60,000 floor and overcoming the volatility generated by the military escalation and the weakness of the U.S. labor market. Despite inflationary pressures due to the rebound in oil prices, the internal structure of digital assets suggests a phase shift.

The current market dynamic, known as the “Great Deleveraging,” eliminated speculative excess after falling 52% from 2025 highs. With open interest at lows, price discovery now depends on the conviction of physical buyers rather than forced liquidations.

Institutions and Whales: The New Market Support The flow of spot Bitcoin ETFs in the U.S. reveals a transition from technical arbitrage toward strategic allocation. Although the distribution wall at $72,000 froze recent momentum, the return of net inflows of $167.1 million on March 9 confirms that institutional appetite persists in the face of fiat uncertainty.

Under the hood, on-chain data shows a bullish divergence. Small investors are selling, but whales have increased their portfolios by at least 8%. This behavior reinforces long-term investor sentiment, positioning BTC as a sovereign liquidity haven against a possible price crisis if crude oil pressures the CPI.

In technical terms, implied volatility remains at a moderate 47%, moving away from the 2022 panic. The inversion of the volatility curve indicates that the market is discounting immediate risks—for example, the next FOMC meeting—but with a constructive outlook. If oil stabilizes, the exhaustion of retail sellers could trigger a violent mean reversion.

In short, in the near term, it is important for the price of Bitcoin to consolidate at $64,000. The absence of “froth” in the system allows any positive macro catalyst to drive the price without the resistance of liquidation cascades.

TL;DR

Exchange Bitcoin reserves hit an all-time low, reducing potential selling pressure. This supply squeeze may trigger a price shock if demand remains strong. Investors moving coins to private custody reflects long-term holding sentiment. Available Bitcoin on trading platforms has reached its lowest level on record. As of March 10, 2026, multiple on-chain data sources confirm that exchange reserves now sit between 2.43 and 2.70 million BTC, down from more than 3.20 million in circulation back in 2023. The decline represents a contraction of nearly one million units in under three years — and it arrives while the asset trades around $71,000.

Bitcoin exchange reserves drop to an all-time low. Data from CryptoQuant shows that inventories on these platforms fell from 3.2 million coins in 2023 to approximately 2.7 million today. This decline indicates that holders are withdrawing their funds from trading platforms.

Bitcoin Scarcity Becomes More Visible While exchange reserves shrink, the Bitcoin network reaches another milestone related to its limited supply. Miners have already extracted more than 20 million BTC from the maximum total of 21 million. This figure represents over 95% of all coins that will ever exist. With this emission level, barely one million Bitcoin remain to be generated over the coming decades.

The pace of new Bitcoin entering the market stays extremely low. The combination of both factors —fewer coins on exchanges and minimal residual emission— reinforces the perception of scarcity for this asset. Unlike other markets where supply can expand, the amount of Bitcoin remains fixed and increasingly hoarded by long-term holders.

On-chain data shows a transformation in market structure Traders move their holdings away from centralized platforms, which reduces inventory available for daily operations. This behavior reflects a preference for self-custody, especially after events where users lost funds due to exchange problems. The reduction of reserves on trading platforms, together with the natural emission limit, establishes a tighter supply base for the future.

The current price of Bitcoin stands at approximately $70,600, after registering an upward movement of close to 4-5% in the last 24 hours and a daily volume exceeding $50 billion, reflecting a significant increase in market activity and a rebound in institutional and retail participation. 

This recent rebound in the price of Bitcoin reflects an attempt by the market to recover key technical levels after several weeks of consolidation and downward pressure, placing the asset once again close to a psychological zone that is extremely relevant for traders and institutional funds.

Stablecoins are decoupling from crypto market cycles as they are increasingly used for digital payments, Bernstein analysts said, which bodes well for USDC issuer Circle. Mar 10, 2026, 6:32 p.m.

Shares of Circle (CRCL), the crypto firm behind the USDC (USDC) stablecoin, could add to their recent remarkable surge, according to analysts at brokerage Bernstein.

The team, led by Gautam Chhugani, rate the stock at outperform with a $190 price target, suggesting about 60% upside from current $120 level. And that's after the stock rallied more than 100% in the past few weeks following an earnings beat, which likely triggered a short squeeze.

Bernstein’s thesis centers on stablecoin adoption increasingly diverging from the broader crypto market.

Circle’s USDC supply briefly fell after the October liquidity shock in crypto markets but has since rebounded to just shy of its record $78 billion, even as bitcoin BTC$70,816.15 and the broader crypto markets remain well below its highs. The total market for U.S. dollar-backed stablecoins also remained steady at around $270 billion despite the crypto bear market, the report noted.

Transaction activity is accelerating as well, the report noted. Adjusted stablecoin volumes grew more than 90% year-over-year, while transaction velocity — a measure of how frequently tokens change hands — has increased, suggesting stablecoins are increasingly used beyond crypto trading.

Payments adoption is a key driver behind that, Bernstein said, as stablecoins are increasingly getting embedded with traditional card networks, enabling everyday transactions. Visa (V), for example, now supports more than 130 such stablecoin-linked cards across 50 countries, processing roughly $4.6 billion in annualized settlement volume, the report noted.

Circle is also expanding its Circle Payments Network, which allows institutions to send USDC cross-border and convert it into local currencies through banking partners. The network now includes about 55 institutions, with annualized volumes reaching $5.7 billion earlier this year, the report said.

Looking ahead, Bernstein also highlighted a potential new growth theme: AI-driven "agentic finance." As autonomous software agents increasingly transact online, stablecoins could become a natural payment rail for micropayments between machines, such as for API calls or automated services.

To support that vision, Circle is building a high-throughput, payments-focused blockchain called Arc, designed for fast, low-cost transactions.

Read more: Why Circle and Stripe (And Many Others) Are Launching Their Own Blockchains

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Over the past week, Gemini founders Cameron and Tyler Winklevoss have moved around $130M in Bitcoin to the exchange’s hot wallets, according to blockchain analytics firm Arkham — sparking speculation of a possible sell-off.

Are The Winklevoss Twins Cashing Out? Arkham noted on X that Bitcoin transfers from wallets linked to Cameron and Tyler Winklevoss took place over the past week, hinting at potential sell-side positioning as BTC trades near local highs.

BTC surged past $70K on Tuesday, reversing four days of declines spurred by a strong U.S. dollar and heightened geopolitical fears. With a 2.9% daily gain, Bitcoin trades near $70,673, signaling renewed momentum in the market, per CoinGecko.

Transfers to exchange-linked wallets sparked Arkham’s “presumably to sell” warning, but without confirmation from the Winklevoss twins, traders can only speculate.

Since the transfers went to hot wallets on their own exchange, some observers speculated they could be for OTC trades, custody rebalancing, or boosting exchange liquidity — not necessarily a sell-off.

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Winklevosses Still Hold $764M Bitcoin Stash The Winklevoss bros still hold $764M in Bitcoin after the recent transfers. At their peak, the duo controlled a staggering 1% of Bitcoin’s circulating supply, Arkham notes.

The pair first purchased Bitcoin back in April 2013, spending $11M at $120 per BTC using cash and Facebook stock from their $65M legal settlement with Mark Zuckerberg, CNBC reported. That early bet skyrocketed over the years, exceeding $1B by December 2017 when BTC approached the $20,000 mark.

Arkham estimates the twins’ total Bitcoin P&L at an eye-popping $1.8 billion, showing that their early crypto investment remains largely intact despite recent transfers.

The Winklevoss brothers have remained publicly bullish on Bitcoin. In September 2025, for instance, they predicted that the top crypto would hit a price of $1 million per coin as it “disrupts gold.”

That being said, Cameron and Tyler Winklevoss’ BTC move aligns with a wave of activity from sovereign and institutional wallets in the last 24 hours. As ZyCrypto reported, the Royal Government of Bhutan moved 175 BTC worth around $12 million on Monday. Arkham data reveals that Bhutan’s state-owned investment arm has been gradually offloading its Bitcoin holdings, moving roughly $42.5M in BTC and USDT so far in 2026 through a handful of repeat counterparties.

TL;DR

SEI price is around $0.065, down 67% in the last year from its peak. All-time high was over $1.14 in March 2024, with a prolonged downtrend since. Key event: unlock of 95.14 million SEI tokens scheduled for March 15, 2026. The layer-1 blockchain built for high-speed trading faces one of its most contradictory moments. As of March 10, 2026, the SEI token trades near $0.065, posting a 5% gain over the last 24 hours alongside a broader altcoin rebound. Even so, that short-term push collides with a harsher reality: the asset has shed 67% of its value over the past year, sitting far below the all-time high of $1.14 it reached in March 2024.

Technical indicators capture that tension clearly. SEI’s price trades below its 50-day and 100-day moving averages, confirming the dominant trend remains bearish. At the same time, the daily RSI sits in oversold territory — a level that historically precedes short-term bounces, though it offers no guarantee of a lasting reversal.

A $6.18 Million Unlock Arrives on March 15 The most pressing event on SEI’s calendar is the unlock of 95.14 million tokens scheduled for March 15, 2026. At current prices, that volume adds roughly $6.18 million in fresh supply to the circulating market, accounting for 1.08% of all tokens currently in circulation. 

Token unlocks expand available supply and, when recipients choose to sell, they push price lower. The actual impact depends on what those recipients decide to do — but markets tend to price in the uncertainty well before the event arrives.

Two months into 2026. The financial stack on Sei is accelerating.

• @OndoFinance tokenized US Treasuries, live across Sei lending markets.

• @chainlink equities price feeds coming to Sei via @MonacoTrading.

• @MonacoTrading's CLOB powering @cultztrade and @m1markets.

•… pic.twitter.com/TKWOTFi8VL

— Sei (@SeiNetwork) March 9, 2026

Beyond the immediate term, the network presents two realities that refuse to align. On one side, user activity grew: daily active addresses reached 1.7 million, Ondo Finance launched tokenized treasuries on the SEI network, and Chainlink integrated stock price feeds into its infrastructure. 

On the other side, the protocol’s financial metrics tell a different story. Total Value Locked (TVL) collapsed from $1.37 billion in July 2025 to under $80 million today, and stablecoin market capitalization within the network also retreated.

SEI attracts more users but retains less capital. That gap between adoption and liquidity defines the project’s central challenge at the current stage of the cycle. With the unlock five days away, the market will soon get a fresh test of how much selling pressure SEI can absorb before finding its footing.

Episode 69 of The Crypto Beat was recorded with Tim Copeland, Kelvin Sparks and Markus Infanger, SVP at RippleX | Ripple.Listen below, and subscribe to The Crypto Beat on YouTube, Apple, Spotify, Twitch, or wherever you listen to podcasts. Please send feedback and revision requests to [email protected].

In episode 69 of The Crypto Beat, Tim and Kelvin sit down with Markus Infanger, a Ripple senior vice president. The conversation covers why firms like Aviva Investors are experimenting with tokenized funds, how blockchain infrastructure could modernize financial market plumbing, and where institutional DeFi is gaining traction.

OUTLINE
00:00 - Introduction
01:19 - Aviva Tokenization Announcement
02:31 - Why Tokenize Funds
05:42 - Compliance and Permissioned Access
07:42 - TradFi Interest Changing
10:14 - RWA Growth Opportunities
16:57 - XRP Utility Explained
19:57 - Agents and Blockchain
25:36 - Automated Finance Future
31:18 - RippleX 2026 Roadmap
39:40 - From Banking to Crypto

Guest links:
Markus Infanger - https://x.com/markusinfanger
RippleX - https://x.com/RippleXDev
Ripple - https://x.com/Ripple

Host links:
Tim Copeland - ⁠⁠⁠x.com/timccopeland⁠⁠⁠
Kelvin Sparks - x.com/imyoungsparks

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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.

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Can BTC collapse to $45,000 in the next 10 days?

The primary cryptocurrency is back in green territory, rising well above $71,000 following Donald Trump’s latest remarks that the war in Iran might be coming to an end.

Nonetheless, this could represent a classic “dead-cat bounce” since numerous analysts believe the bear market is far from being over.

‘The Flush is Approaching’ Despite climbing 7% over the past week and reclaiming the $70,000 level, BTC is down 45% from its all-time high of approximately $126,000 recorded in October 2025, a clear indication that the asset remains in a broader bear market.

Many industry participants think the bottom is yet to be formed. X user bee, for instance, described the latest resurgence as “just a liquidity grab before the next dump,” envisioning a drop to $50,000 in the second quarter of the year.

Leshka.eth and Mr. Crypto Whale also made bearish predictions. The former reminded that every single bear market in history has seen at least a 78% drawdown from the top, claiming “the flush is approaching.”

Mr. Crypto Whale argued that BTC might be entering its final accumulation stage. Based on their chart projection, the price could nosedive to $45,000 in the next 10 days before reversing course.

“If that scenario plays out, volatility will spike, and weak hands will get shaken out. Make sure you’re prepared for both directions. The biggest opportunities often appear when the market creates maximum fear,” they added.

The renowned analyst Ali Martinez gave his two cents, too. He compared BTC’s downtrend to that in 2022, speculating that the valuation could crash below $32,000 during this cycle.

You may also like: Geopolitics Fail to Break Bitcoin: Analyst Eyes $80K Upside Ahead 29,000 BTC Withdrawn While Futures Shorts Continue to Rise: Data Winklevoss Twins Are Selling Bitcoin Again? Arkham Flags Big BTC Transfer to Gemini BTC Will ‘Shock Everyone?’ Of course, there are those suggesting that the asset could be gearing up for a price explosion rather than a renewed pullback. X user Crypto Fergani thinks that BTC will “shock everyone” this cycle, envisioning a rise to a new all-time high. According to the analyst, some factors that could fuel the pump include the “dying” fiat, “unpayable” debt, mass money printing, and the involvement of major institutions such as BlackRock.

“It’s only a matter of time before crypto does what it always does next. Crypto doesn’t need your belief to take over,” they claimed.

Merlijn The Trader and Michael van de Poppe also chipped in. The former argued that quantitative tightening had just ended, noting that the last time the Fed made such a pivot, BTC rallied by over 2,000%. It is worth saying that the official QT ending was widely determined to be the start of December, 2025.

Michael van de Poppe believes the recent surge could be followed by a further jump to $75,000, then a potential spike to $80,000 sometime this month.

Tags:

Journalist

Posted: March 11, 2026

The crypto market is currently in a strange situation. Prices are slowly moving up, but investor sentiment remains extremely weak.

The Crypto Fear and Greed Index still sits in the “Extreme Fear” zone. However, for experienced market participants like BitMEX co-founder Arthur Hayes, this disconnect tells a different story.

Arthur Hayes calls for a $150 $HYPE target Instead of focusing only on short-term price movements or taking risky short positions, Hayes suggests shifting attention to decentralized exchanges (DEXes).

Hayes draws references from past market cycles, noting that during the sideways market of 2023, platforms like GMX continued to grow by earning trading fees even as traders struggled.

He believes Hyperliquid [HYPE] could follow a similar path as more trading activity moves on-chain.

For perspective, firms such as Tether or Circle keep profits internally. However, Hyperliquid uses about 97% of its revenue to buy back and burn HYPE tokens, reducing supply and potentially supporting the price over time.

Based on this model, Arthur Hayes believes,

“My August 2026 target price for $HYPE is $150, which is roughly 5x higher than its current price of ~$30 at the time of writing this essay.”

Factors required for Hyperliquid to shine However, for this price target to become realistic, Hyperliquid needs strong growth.

The platform currently generates about $843 million in annualized revenue, but this would need to rise to around $1.4 billion to justify such a valuation.

A key growth driver could be HIP-3, which allows users to create permissionless perpetual markets tied to assets like the Nasdaq-100 or precious metals directly on-chain.

Launching these markets requires staking 500,000 HYPE tokens.

Despite being new, HIP-3 already contributes around 10% of Hyperliquid’s revenue, and if more traders begin hedging traditional assets on-chain, this segment could expand significantly. 

The community stands in support of Hayes Echoing similar sentiments, an X user said, 

Source: X

Adding more weightage, another user added, 

Source: X

Another important metric supporting the bullish outlook, as per Hayes, is the ADV/OI ratio (Average Daily Volume to Open Interest).

He quoted, 

“Hyperliquid’s volumes are the most real out of the top 5 perp DEXs because its ADV/OI ratio is the lowest.”

Source: Arthur Hayes’ substack

However, he does believe that with time and tide, Hyperliquid’s visible share of ADV will increase. 

HYPE: Price vs. on-chain metrics This comes at a time when the token was trading around $34.98 at press time, recording a 13.37% gain in the last 24 hours. Yet, despite the price momentum, on-chain data suggests that the market sentiment is still cautious.

Data from Santiment shows that between mid-January and mid-February, there was a clear gap between what developers were building and how the market felt about the project.

Source: Santiment

However, investor sentiment remained negative, mainly because traders were focused on short-term price swings.

Only recently has sentiment started to recover, suggesting that the market may finally be recognizing the platform’s growing utility and revenue model.

That said, this isn’t the first time Hayes has shown strong confidence in HYPE. As early as the 21st of February, the BitMEX co-founder posted on X that he was accumulating the token and targeting a $150 price level.

While his earlier outlook suggested this milestone could be reached by July 2026, his latest projections now place the timeline closer to August 2026.

However, this is only possible if the protocol is able to achieve roughly $1.4 billion in annual revenue.

Final Summary Metrics like Hyperliquid’s low ADV/OI ratio suggest trading activity is driven by real users rather than artificial volume. Cautious sentiment shows that the market is still waiting for stronger confirmation of sustained growth.

Data shows the Bitcoin Funding Rates have turned negative across exchanges recently, indicating bearish bets are currently dominating.

Aggregated Bitcoin Funding Rates Have Plunged As pointed out by analytics firm Santiment in a new post on X, the aggregated Bitcoin Funding Rates are currently showcasing a significant short bias. The “Funding Rate” here refers to an indicator that keeps track of the amount of periodic fees that derivatives market traders are exchanging between each other on a given centralized exchange.

When the value of this metric is positive, it means the long contract holders are paying a premium to the short contract holders in order to hold onto their position. Such a trend can be a sign that a bullish sentiment is dominant on the platform. On the other hand, the indicator being under the zero mark implies a bearish mentality may be held by the majority of traders, as shorts are outpacing the longs on the exchange.

Now, here is the chart shared by Santiment that shows the trend in the aggregated Bitcoin Funding Rates across all exchanges:

The value of the metric seems to have gone down in recent days | Source: Santiment on X As displayed in the above graph, the Bitcoin Funding Rates across exchanges have witnessed a notable negative spike recently, implying demand for short positions has gone up. “Traders are showing clear concern over fear of an escalating war, as well as expressing frustration toward the lack of progress on the Clarity Act,” noted the analytics firm.

The rise of bearish sentiment may not actually be bad for the cryptocurrency, however, if history is anything to go by, the asset’s price often tends to go against the crowd opinion.

In terms of the derivatives market, this contrarian effect can emerge due to liquidations feeding into the opposite type of price move. “Historically, extreme shorting increases the likelihood of cryptocurrencies bouncing due to potential short liquidations providing a boost whenever prices break through resistance levels,” explained Santiment.

While either side of the market can fall prey to liquidations depending on random volatility, the side that’s more dominant is usually the one more likely to be affected by a mass cascade. For Bitcoin, that side is the short one at the moment. It now remains to be seen how the asset will develop in the coming days, given the bearish sentiment.

BTC Price The effect of the negative Funding Rates may already be in motion as the asset has seen a bounce back above the $70,000 level during the past day.

The trend in the price of the coin over the last five days | Source: BTCUSDT on TradingView The upward move has caused short liquidations of more than $100 million, as the heatmap from CoinGlass suggests.

Looks like BTC has seen the highest amount of liquidations over the last 24 hours | Source: CoinGlass Featured image from Dall-E, chart from TradingView.com

Bitfinex is about to get a massive chunk of its past back as a U.S. court orders more than 94,000 seized bitcoin returned, turning a 2016 hack into a live test of crypto property rights.

Summary

The restitution order covers 94,643 BTC plus forked coins seized from Ilya Lichtenstein and Heather “Razzlekhan” Morgan, part of roughly $10b traced and recovered by U.S. agencies. Prosecutors argued Bitfinex customers are no longer “victims” under the MVRA because the exchange imposed a 36% haircut in 2016, then repaid users via BFX and recovery tokens. Bitfinex plans to use 80% of the returned BTC to buy back and burn recovery and UNUS SED LEO tokens over about 18 months, tightening the link between its balance sheet and the recovered coins. Bitfinex is about to get a massive chunk of its past back – and with it, a live test of how the legal system treats property rights in crypto. A U.S. federal court has ordered that more than 94,000 bitcoin seized in connection with the 2016 Bitfinex hack must be returned to the exchange as restitution, after prosecutors and defense lawyers agreed to a voluntary restitution deal tied to the plea agreements of Ilya Lichtenstein and Heather “Razzlekhan” Morgan.

What the ruling actually does According to court filings cited by BitcoinNews and Brave New Coin, the order covers 94,643 BTC, alongside smaller amounts of forked assets like Bitcoin Cash, Bitcoin SV and Bitcoin Gold, all of which had been recovered by U.S. law enforcement from wallets controlled by Lichtenstein and Morgan. The Department of Justice previously disclosed that agents seized over 94,000 BTC – then worth about $3.6 billion – after obtaining the private keys to a wallet that received 119,754 BTC stolen in the 2016 breach. TRM Labs later noted that, thanks to additional seizures and price appreciation, the government ultimately recovered roughly $10 billion in assets across BTC, ETH, stablecoins and other holdings linked to the case.

The key legal point is who counts as a “victim.” Prosecutors argued under the Mandatory Victims Restitution Act that, for the specific money‑laundering offenses at issue, Bitfinex’s customers no longer qualified because the exchange had already made them whole after the hack. Back in 2016, Bitfinex imposed a 36% haircut on all user balances, then issued BFX tokens that could be redeemed for cash or converted into equity in its parent iFinex; all BFX were redeemed within eight months. With that compensation complete, the DOJ told the court there was effectively “no victim” left in the narrow sense of the statute – clearing the way for Bitfinex itself to receive the seized coins via voluntary restitution.

Why it matters for market structure Bitfinex has said it plans to use 80% of the returned bitcoin to buy back and burn recovery tokens it issued after the hack, removing them from circulation over roughly 18 months. That turns the restitution into a capital‑structure event: a large, lumpy inflow of BTC that, if executed as promised, shrinks outstanding liability‑style tokens and tightens the link between the exchange’s balance sheet and the recovered coins.

More broadly, the ruling is being read as a precedent on crypto property rights. Commenting on the case, one FTX creditor described it as a “clear ruling that property rights of crypto are recognized in the U.S.,” and argued that insolvent exchanges’ customers should be treated similarly when large asset pools are recovered. Combined with earlier U.S. government seizures – over 94,000 BTC recovered via on‑chain tracing, and subsequent hacks of government‑controlled wallets themselves – the Bitfinex saga underscores how transparent but durable blockchain records can both enable restitution and create new attack surfaces once state actors take custody.

Key Takeaways EURCV extends to Stellar blockchain, delivering rapid and affordable euro-denominated transactions. The stablecoin maintains full compliance with EU MiCA regulations for maximum transparency. Deployment strategy now covers Ethereum, XRP Ledger, and Stellar networks. Stellar’s infrastructure facilitates tokenized asset integration and cross-border payment solutions. The stablecoin enables instant settlement capabilities, micropayments, and financial service integration. Societe Generale-FORGE has deployed EURCV, its euro-denominated stablecoin, on the Stellar blockchain, marking a significant expansion of its digital currency infrastructure. Following previous integrations with Ethereum and the XRP Ledger, this latest deployment demonstrates the company’s commitment to a comprehensive multichain approach. The expansion enhances EURCV’s applicability across cross-border payment systems, tokenized asset platforms, and blockchain-based financial services.

The digital currency maintains adherence to the European Union’s Markets in Crypto-Assets (MiCA) regulatory framework, ensuring complete legal compliance. EURCV’s value stability derives from full backing through bank deposits and premium liquid assets, preserving a consistent one-to-one ratio with the euro. Integration with Stellar’s infrastructure delivers improved transaction velocity, expanded scalability, and connection to varied financial ecosystems.

Stellar’s blockchain architecture facilitates asset tokenization, rapid settlement mechanisms, and minimal transaction costs, aligning perfectly with EURCV’s operational objectives. These technical capabilities enable EURCV to function effectively within both decentralized protocols and conventional financial systems. The network’s substantial throughput capacity ensures the stablecoin can process extensive transaction volumes without performance degradation.

Regulatory Compliance and Market Positioning of EURCV EURCV ranks among the pioneering euro-backed stablecoins achieving full compliance with EU MiCA requirements, delivering enhanced transparency and security guarantees. The regulatory structure mandates that stablecoin providers secure an e-money license within the European Economic Area boundaries. This compliance framework establishes EURCV as a dependable digital euro alternative within Europe’s expanding digital asset landscape.

Market penetration for EURCV has advanced consistently following its Ethereum debut in April 2023, currently achieving a market capitalization of $452 million. The digital currency has facilitated tokenized bond settlement transactions through experimental programs involving international banking infrastructure like SWIFT. This operational history validates EURCV’s effectiveness as an instrument for digital financial transactions.

The Stellar deployment represents the third blockchain integration following Ethereum and XRP Ledger implementations. Each network addition broadens accessibility for banking institutions, investment managers, and traditional finance entities. Stellar’s technical framework enables cost-efficient, high-speed transactions, amplifying EURCV’s practical applications in payment processing.

Enhanced Functionality Through Stellar Network Integration EURCV capitalizes on Stellar’s decentralized exchange infrastructure and tokenization features, supporting frictionless trading and diverse financial applications. The platform’s minimal fee structure accommodates micropayments and international transfers without excessive costs. EURCV delivers efficient payment solutions for both individual users and commercial enterprises.

The stablecoin’s multichain distribution model reinforces operational resilience and strategic flexibility. Stellar’s rapid transaction processing capabilities guarantee real-time settlement execution, essential for contemporary financial applications. The integration establishes compatibility with asset management firms and blockchain-enabled financial service providers.

As European regulatory frameworks for stablecoins become increasingly stringent, EURCV secures a competitive positioning. While US dollar-pegged stablecoins maintain global market dominance, EURCV provides a comprehensive euro-denominated alternative. This strategic development promotes wider acceptance of euro-based digital assets throughout European financial markets.

Oliver Dale

Editor-in-Chief of Blockonomi and founder of Kooc Media, A UK-Based Online Media Company. Believer in Open-Source Software, Blockchain Technology & a Free and Fair Internet for all. His writing has been quoted by Nasdaq, Dow Jones, Investopedia, The New Yorker, Forbes, Techcrunch & More. Contact [email protected]

TL:DR:

Strategic editorial rescue: Jito Foundation acquires SolanaFloor following the cessation of its operations due to a hack on its former parent company, Step Finance. Independence and continuity: The outlet will maintain creative and editorial autonomy to offer data analysis and objective coverage of the Solana ecosystem. Information infrastructure: The acquisition seeks to strengthen the network’s “public goods,” returning critical services such as the $SOL ETF tracker. The Jito Foundation has just announced the purchase of SolanaFloor, the network’s leading native news outlet. With this action, they seek to renew the platform after its forced closure due to an exploit at its previous parent company, ensuring that investors and developers remain informed with a continuous flow of news.

SolanaFloor is back.

As of today, we are thrilled to announce that SolanaFloor has been acquired by @jito_sol and will resume operations under the Jito Foundation’s ownership while maintaining full editorial independence.

After announcing a wind-down in February 2026 following… pic.twitter.com/AsLWHKRRPC

— SolanaFloor (@SolanaFloor) March 10, 2026 This acquisition is executed in a context of volatility and institutional growth for the asset. By integrating SolanaFloor, Jito recovers a critical information channel while also reinforcing digital asset infrastructure by providing market data and market cap analysis that are vital for investors in the short and medium term.

Editorial Independence at the Epicenter of DeFi Despite having new owners, SolanaFloor will have total creative control. Jito Foundation President Brian Smith stated that the health of the network depends on “credibly neutral” journalism. This autonomy is crucial for a medium that evolved from an NFT tracker in 2021 into an intelligence hub covering everything from liquidations in DeFi protocols to tracking ETF flows.

The return of SolanaFloor implies the reactivation of high-value technical tools. The ecosystem regains access to trading volume metrics and research analysis documenting the network’s expansion. In a market where truthful information acts as psychological support for prices, the return of a crypto-native outlet reduces uncertainty following negative security events.

In summary, under Jito’s direction, SolanaFloor is expected to boost its coverage of capital efficiency and MEV (Maximal Extractable Value), areas where Jito dominates. The short-term outlook is for even greater professionalization of content, serving as a bridge between Solana’s technical complexity and the retail and institutional participants seeking to navigate its ecosystem with precise and updated data.

Strategy has found a new gear in its Bitcoin accumulation engine, and its STRC preferred stock equity is doing a growing share of the driving.

The company, formerly known as MicroStrategy, held 738,731 BTC as of March 8, up from 672,500 at the end of 2025. This represents an addition of 66,231 coins in 68 days, already surpassing its full-year net purchases in 2021, 2022, or 2023.

Strategy (formerly MicroStrategy) Pace of Bitcoin Purchases Over Past Years (Source: Adam Argo)The pace of these acquisitions is striking by any measure, and what makes 2026 different is where the capital is coming from.

For years, Strategy leaned primarily on its common equity, MSTR, and convertible debt to finance Bitcoin purchases.

Typically, MSTR shares trade at a premium to net asset value, allowing the company to raise capital on favorable terms, essentially monetizing investors' enthusiasm for leveraged Bitcoin exposure.

However, that premium to the value of its Bitcoin holdings (mNAV) has significantly compressed in the past year to 1.20, a far cry from its previous highs.

Strategy's MSTR Key Metrics (Source: Strategy)How STRC became a core funding railWith mNAV less generous, the Michael Saylor-led firm has embraced a newer instrument called STRC, which is a perpetual preferred stock carrying an 11.50% annual dividend and designed to trade near its $100 par value.

Through this, Strategy is building a more continuous capital-raising system, one that can reach different investor bases and operate across different parts of the trading day.

For context, Strategy sold 3.78 million STRC shares for approximately $377.1 million in net proceeds in the week ended March 8. Notably, this was the best-performing week by STRC share sales since its launch last July.

This means STRC accounted for roughly a third of the week's at-the-market funding of $1.28 billion, a proportion large enough to show that preferred stock has moved from a supplemental instrument to a core component of the capital stack.

What made this particularly significant was that the funding came during a week when BTC struggled amid rising geopolitical tensions in the Middle East.

Moreover, data from STRC.live suggest that the trend has continued strongly, with March 9 alone registering a record STRC issuance, with proceeds estimated to fund the purchase of approximately 1,420 BTC. Since its launch, STRC has funded 33,976 BTC, worth more than $3.5 billion.

STRC's Bitcoin Funding (Source: STRC.live)These impressive figures show that STRC is commanding significant attention from the yield-hungry investors.

For context, Jeff Walton, chief risk officer at asset management firm Strive, pointed out that STRC was generating more volume and yield than JPMorgan's perpetual preferred (JPM-PD).

According to him, the JPMorgan product carried an effective yield of approximately 5.8% and generated roughly $2 million in daily volume, while STRC, at an effective yield of 11.50%, generated approximately $213.5 million in volume.

He added:

“STRC [sic] trading 106x $JPM-PD volume. Digital Credit [sic] going to eat the world.”

Unsurprisingly, this strong performance has attracted significant institutional bids, with preferred-focused and income-oriented funds appearing among STRC holders, including the BlackRock iShares Preferred and Income Securities ETF (PFF) and the Fidelity Capital & Income Fund (FAGIX), among others.

At the same time, Prevalon Energy and Anchorage Digital recently revealed that they had allocated part of their corporate treasuries to STRC.

Due to these strong demand levels, Strategy is stepping up efforts to accelerate STRC's market availability.

On March 9, the Bitcoin-focused company amended its Omnibus Sales Agreement to allow multiple agents to sell the same class of securities on a single day. This includes during pre-market and after-hours sessions, while preserving the ability to conduct block sales after 4 p.m. ET.

For a company whose entire corporate strategy rests on converting investor demand into Bitcoin as quickly as possible, the ability to operate across more of the trading day with multiple execution pathways is a genuine throughput improvement.

The operational logic is straightforward. Preferred issuance gives Strategy another instrument to sell when common stock demand is soft, volatile, or concentrated in narrow windows.

So, the amended sales agreement adds flexibility in timing and execution, which can matter for a strategy built around repeatedly turning investor demand into Bitcoin purchases.

The cost of running the machine continuouslyMeanwhile, the yield that makes STRC attractive to income investors comes at a cost of continuity to Strategy.

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With approximately $3.84 billion of STRC notional outstanding, the 11.50% annual dividend implies roughly $442 million in annual cash obligations, or about $36.8 million per month.

This means Strategy is paying a significant premium for the ability to buy Bitcoin continuously, across different market conditions and from a broader range of investor types.

The firm's critics have raised those points, with Peter Schiff, a longstanding Bitcoin skeptic, arguing that Strategy is burning ever-increasing amounts of cash to sustain its pace of accumulation.

He added that Saylor will eventually face a choice between suspending the preferred dividend or selling Bitcoin to meet payments.

At the same time, famed short seller James Chanos, who holds a short position in MSTR, has challenged the company's framing of STRC as “digital credit.”

Notably, Strategy has described its preferred securities as Bitcoin-collateralized, yield-bearing financial instruments designed to transform BTC reserves into a perpetual capital engine.

However, Chanos dismissed that framing, saying:

“They're literally credit instruments denominated in fiat. What's digital is the assets, not the liabilities/preferred.”

The tension between those two views captures the core debate around Strategy's model.

In a constructive market, where Bitcoin appreciates and preferred demand remains strong, the company continues to accumulate coins at an accelerating pace while fixed costs remain manageable relative to asset gains.

In a weaker market, where Bitcoin falls and financing windows narrow, Strategy may need to offer higher yields, as it is doing presently, to attract preferred buyers. This can result in the cost structure growing heavier relative to the value of what is being purchased.

MSTR's resilience supports the modelDespite these concerns, market traders appeared to have absorbed the tradeoff with relative equanimity.

Data from Strategy Tracker showed that MSTR was down about 8.3% year to date, while Bitcoin itself was down about 20%. That relative outperformance carries practical significance for Strategy's ability to raise capital.

MSTR vs. Bitcoin YTD Price Performance (Source: Strategy Tracker)This is because a narrowing common-stock premium would reduce the appeal of issuing MSTR shares and put more pressure on preferred issuance to carry the load.

Meanwhile, Strategy still has substantial remaining ATM capacity across its securities, and the first two months of 2026 suggest management is prepared to deploy it aggressively.

Nonetheless, the question of whether the preferred-stock model can sustain its current pace depends heavily on where Bitcoin trades from here and whether income investors continue to find the yield compelling at current levels.

Mentioned in this articlePosted in

Nuwellis, Inc. (NUWE) Q4 2025 Earnings Call March 10, 2026 9:00 AM EDT

Company Participants

Leah McMullen - Director of Communications
John Erb - CEO, President & Chairman
Carisa Schultz - CFO, Principal Financial Officer & Principal Accounting Officer

Conference Call Participants

Anthony Vendetti - Maxim Group LLC, Research Division

Presentation

Operator

Hello, and welcome, everyone, joining today's Nuwellis Fourth Quarter 2025 Earnings Conference Call. [Operator Instructions] Please note, this call is being recorded. [Operator Instructions] It is now my pleasure to turn the meeting over to Leah McMullen, Director of Communications.

Leah McMullen
Director of Communications

Thank you, operator. Thank you all for joining today's conference call to discuss Nuwellis' corporate developments and financial results for the fourth quarter and full year as of December 31, 2025. In addition to myself, with us today are John Erb, Nuwellis' Chairman of the Board and CEO; and our newly appointed CFO, Carisa Schultz. At 8:00 a.m. Eastern Time today, Nuwellis released financial results for the fourth quarter and full year 2025.

If you have not received Nuwellis' earnings, please visit the Investor Page on the company's website. During the conference call, the company will be making forward-looking statements. All forward-looking statements made during today's call will be protected under the Private Securities Litigation Reform Act of 1995. Any statements that relate to expectations or predictions of future events and market trends as well as our estimated results or performance are forward-looking statements.

All forward-looking statements are based upon our current estimates and various assumptions. These statements involve material risks and uncertainties that could cause actual results or events to materially differ from those anticipated or implied by these forward-looking statements.

All forward-looking statements are based upon current available information, and the company assumes no obligation to update these statements. Accordingly, you should not place

Armanino Foods of Distinction, Inc. (AMNF) IAccess Alpha Virtual Best Ideas Spring Investment Conference 2026 March 10, 2026 12:00 PM EDT

Company Participants

Deanna Jurgens - CEO & President

Presentation

Operator

Good day, and welcome to the IAccess Alpha Virtual Best Ideas Spring Investment Conference 2026. Our next presenting company is Armanino Foods. [Operator Instructions]

I'd now like to turn the floor over to today's host, Deanna Jurgens, CEO of Armanino Foods. Please go ahead.

Deanna Jurgens
CEO & President

Thank you. It's great to be with you all today. I'm really looking forward to sharing a little bit about Armanino Foods and answering a few of your questions over the next 30 minutes. And if there are 3 takeaways that I hope you get from this presentation, it's one, that Armanino is the market leader in the pesto sauce category within foodservice, two is we have an incredibly strong and sustainable P&L. And three is the opportunity for growth, which has really led me to this company and what I'm really excited about to share with you today.

So we have our standard forward-looking statements, but I won't go into detail there. But I want to start by sharing a little bit about who we are, just in case we are not a familiar company to you. So Armanino is really the leading producer of premium frozen Italian sauces and we sell this across North America and in some select international markets. And so we'll talk a little bit about our market leader position, but how we've gotten there is through our partnerships with all of the national distributors.

So Armanino is carried at all the major distributors across the United States, making it very easy for our customers to access our products. I'm really excited about growth and to

AbbVie Inc. (ABBV) Leerink Global Healthcare Conference 2026 March 10, 2026 11:20 AM EDT

Company Participants

Scott Reents - Executive VP & CFO
Roopal Thakkar - Executive VP of Research & Development and Chief Scientific Officer

Conference Call Participants

David Risinger - Leerink Partners LLC, Research Division

Presentation

David Risinger
Leerink Partners LLC, Research Division

So good morning, everyone. My name is Dave Risinger. I'm very pleased to host a couple of senior executives from AbbVie.

So immediately to my left is the CSO, Roopal Thakkar, and to his left is the CFO, Scott Reents.

And very much appreciate you joining the Leerink Global Healthcare Conference.

Question-and-Answer Session

David Risinger
Leerink Partners LLC, Research Division

Maybe, Scott, you can kick us off with some high-level remarks on the company's growth prospects and how we should think about the margin profile in coming years?

Scott Reents
Executive VP & CFO

Yes, of course, happy to do that. First, thank you very much for having us down and beautiful weather. So it's never hard to come down here from Chicago at this time of the year. So I appreciate you having us.

When we think about the business, I think we've been pretty -- we've talked a lot about the prospects. Obviously, we're excited the way 2025 performed, the momentum coming in. We're excited with our guidance of $67 billion in 2026. But really, when we look at the business, we have the portfolio of assets in place today on market derisked, and we've talked about this a lot, driving high single-digit growth through the decade. We're very confident and continue to be very confident in doing that as well as a clear line of sight to robust growth into the next decade as well. So we have what we need to continue to grow. When you think about that growth and what's going to drive that growth, certainly, SKYRIZI

POLAND - 2025/09/21: In this photo illustration, the Southern Copper Corporation logo is seen displayed on a smartphone screen. (Photo Illustration by Piotr Swat/SOPA Images/LightRocket via Getty Images)

SOPA Images/LightRocket via Getty Images

Southern Copper (SCCO) shares have declined by 13% over the past week and are currently valued at $190.64. Our comprehensive evaluation indicates that it could be an appropriate moment to acquire additional shares of SCCO stock. We maintain a generally favorable outlook on the stock, and a target price of $247 seems feasible. We assert that there is not much to fear in SCCO stock due to its overall Very Strong operational performance and solid financial health. Thus, in spite of its Very High valuation, the stock seems Attractive but Volatile.

Here is our evaluation:

SCCO

Trefis

Consider this question – Is holding SCCO stock a risk? Certainly, it is. High Quality Portfolio helps mitigate that risk.

Let’s delve into the details of each of the evaluated factors but first, for a quick background: With a $161 Bil market cap, Southern Copper engages in the mining, smelting, and refining of copper and other minerals, producing copper and molybdenum concentrates in Peru, Mexico, Argentina, Ecuador, and Chile.

[1] Valuation Appears Very High

SCCO

Trefis

MORE FOR YOU

This table illustrates how SCCO is valued compared to the broader market. For further details, see: SCCO Valuation Ratios

[2] Growth Is Very Strong

Southern Copper has experienced an average top-line growth of 10.5% over the last 3 yearsIts revenues have increased by 17% from $11 Bil to $13 Bil in the past 12 monthsAdditionally, its quarterly revenues surged by 39.0% to $3.9 Bil in the latest quarter from $2.8 Bil one year ago.SCCO

Trefis

This table illustrates how SCCO is growing compared to the broader market. For further details, see: SCCO Revenue Comparison

[3] Profitability Seems Very Strong

SCCO's operating income for the last 12 months was $7.0 Bil, reflecting an operating margin of 52.2%With a cash flow margin of 35.4%, it generated nearly $4.8 Bil in operating cash flow over that periodDuring the same timeframe, SCCO produced approximately $4.3 Bil in net income, indicating a net margin of around 32.3%SCCO

Trefis

This table illustrates how SCCO's profitability compares to the broader market. For further details, see: SCCO Operating Income Comparison

[4] Financial Stability Appears Very Strong

SCCO's Debt stood at $7.4 Bil at the conclusion of the most recent quarter, while its current Market Cap is $161 Bil. This results in a Debt-to-Equity Ratio of 4.6%SCCO Cash (inclusive of cash equivalents) constitutes $4.9 Bil of $21 Bil in total Assets, yielding a Cash-to-Assets Ratio of 23.0%SCCO

Trefis

[5] Downturn Resilience Is Moderate

SCCO experienced an impact slightly better than the S&P 500 index throughout various economic downturns. We evaluate this based on (a) the extent of the stock's decline and (b) the speed at which it recovered.

2022 Inflation Shock

SCCO shares dropped 45.2% from a peak of $78.17 on April 1, 2022, to $42.81 on September 26, 2022, compared to a peak-to-trough decrease of 25.4% for the S&P 500.However, the stock fully rebounded to its pre-crisis peak by February 1, 2023.Since that time, the stock climbed to a peak of $218.85 on March 2, 2026, and is currently priced at $190.64.SCCO

Trefis

2020 Covid Pandemic

SCCO shares decreased by 47.0% from a peak of $44.41 on January 13, 2020, to $23.53 on March 23, 2020, compared to a peak-to-trough decline of 33.9% for the S&P 500.Nonetheless, the stock entirely recovered to its pre-crisis level by July 27, 2020.SCCO

Trefis

2008 Global Financial Crisis

SCCO shares plummeted by 80.5% from a high of $47.12 on October 29, 2007, down to $9.19 on November 20, 2008, versus a peak-to-trough decline of 56.8% for the S&P 500.Nevertheless, the stock fully rebounded to its pre-crisis peak by December 13, 2010.SCCO

Trefis

However, the risk is not confined to significant market declines. Stocks can decline even during favorable market conditions – consider events such as earnings reports, business updates, and outlook adjustments. Review SCCO Dip Buyer Analyses to understand how the stock has bounced back from steep declines in the past.

The Trefis High Quality (HQ) Portfolio, which consists of 30 stocks, has a history of consistently outperforming its benchmark, which encompasses all three – the S&P 500, S&P mid-cap, and Russell 2000 indices. What accounts for this? Collectively, HQ Portfolio stocks have delivered superior returns with reduced risk compared to the benchmark index; a smoother experience, as demonstrated by HQ Portfolio performance metrics.