Market Signal Briefing

TL;DR

Coinbase is publishing premium exchange data onchain through Chainlink DataLink, bringing order books, spot prices, and derivatives benchmarks into blockchain-based applications for developers. The datasets include perpetual futures, e-mini futures, and additional benchmarks across crypto, metals, energy, and equity futures from Coinbase Derivatives Exchange now live. The integration aims to improve pricing, risk management, and the design of new onchain markets, while extending a broader Coinbase-Chainlink infrastructure partnership for institutions. Coinbase is pushing a new category of market infrastructure onchain, and the move could matter far beyond one exchange. This launch turns proprietary trading data into programmable building blocks for decentralized finance. Coinbase said it has integrated Chainlink to publish its premium exchange datasets onchain for the first time through DataLink, a data publishing service built on the Chainlink standard. The release makes Coinbase market information available directly to blockchain-based applications, opening a path for developers to work with institutional-grade benchmarks inside derivatives, tokenized asset, and risk-management systems across onchain markets globally.

Why the DataLink launch matters What makes the integration notable is the breadth of what is now available. Coinbase is not sending a narrow price feed onchain, but a fuller slice of exchange intelligence that usually stays inside centralized venues. Through DataLink, protocols can access order book data, spot prices, perpetual futures data including from Coinbase International Exchange, e-mini futures data, and additional datasets tied to crypto, metals, energy, and equity futures from Coinbase Derivatives Exchange. That menu widens the type of onchain products developers can build and sharpens the quality of information sitting underneath them for serious financial applications.

The practical implication is bigger than data access alone. Institutional-grade benchmarks onchain can change how decentralized applications price risk, settle exposure, and design entirely new products. Coinbase said the integration is intended to support more accurate pricing, stronger risk management, and the creation of new onchain markets across derivatives, tokenized real-world assets, structured products, perpetuals, synthetic assets, and next-generation lending risk engines. In effect, the announcement pulls a category of market data that powers billions in exchange trading into blockchain environments that have long operated with thinner, less standardized information to date across blockchain ecosystems.

The strategic subtext is also difficult to miss. Coinbase and Chainlink are extending an existing partnership into a deeper infrastructure role that connects centralized liquidity with onchain finance. The data launch follows earlier work between the two companies, including the Base-Solana bridge secured by Chainlink CCIP and Coinbase’s selection of CCIP as the exclusive interoperability provider for Coinbase Wrapped Assets. By adding DataLink to that stack, Coinbase is betting that future onchain markets will need not just assets and settlement, but exchange-grade data layers robust enough for institutional use at scale in the years ahead.

This shift could fundamentally reshape internet business models, Solana Foundation's Vibhu Norby believes. Mar 25, 2026, 4:36 p.m.

The Solana Foundation is positioning the network as core infrastructure for an emerging “agentic” internet, where AI systems—not humans—initiate and execute economic activity.

“AI is not really a vertical. It's a platform shift… affecting everything across every industry, including crypto,” said Vibhu Norby, chief product officer of the Solana Foundation, during a panel at the Digital Asset Summit (DAS) in New York.

At the center of Solana’s strategy is payments. Norby said the network has already “processed 15 million payments onchain from agents,” largely tied to machine-to-machine commerce. “The programmatic aspect of crypto payments is what is making it interesting for agents,” he said, adding that “stablecoins are going to be the default thing that agents use to pay for any computational resource.”

This shift could fundamentally reshape internet business models, Norby believes. “Agentic payments are probably going to change the entire way that the internet is monetized,” he said, pointing to the ability to support sub-cent, pay-per-use transactions that traditional rails cannot handle.

The Solana Foundation argues that the network’s performance-focused design gives it an edge in this new paradigm. “Agents are cold, calculated machines… they don’t subscribe to crypto religiosity,” Norby said. “If you ask an agent what’s the best way to pay for something with crypto, most of the time, Solana is showing up at the top.”

At the same time, advances in AI are eroding long-standing developer barriers, noting that tools now allow developers and machines to build across ecosystems more easily.

In response, Solana developers are building directly for AI systems. “What agents like is APIs and documentation and skills,” Norby said, pointing to initiatives like machine-readable “skill” files and AI-first developer platforms.

Looking ahead, Norby expects a dramatic shift in user behavior: “The default way people will interact with crypto is going to be through their agent… 95 to 99% of all transactions… will be coming from LLMs.”

Read more: Solana Foundation taps Mastercard, Western Union, Worldpay for institutional developer platform

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Cardano price rose 5% to $0.275 in the past 24 hours amid optimism. The ADA price stayed above $0.27 as traders anticipated the Midnight mainnet launch this week. Investors are also watching the Clarity Act decision for regulatory clarity across broader markets. 

The price of Cardano has regained its intraday low of around the $0.258 to $0.260 levels. The crypto market in general rose by 1.35%, while Bitcoin price 1.43% to $ $71,600.

Cardano Price in Focus Ahead of Midnight Mainnet Launch  Midnight is preparing to activate its mainnet launch before the end of March, according to founder Charles Hoskinson. He shared the update during a live presentation at the Consensus conference. The announcement has intensified attention around the NIGHT token in recent days.

BREAKING: 🕛 Midnight Mainnet to launch by end of March.

Charles Hoskinson announced the date at Consensus Hong Kong.pic.twitter.com/y1iS9vwssF

— Cardanians (CRDN) (@Cardanians_io) February 12, 2026

NIGHT traded at $0.04412 this week, holding relatively steady as investors monitored developments. Market participants are closely watching for confirmation of the final launch date. Midnight is designed as a zero-knowledge powered sidechain focused on privacy-driven decentralized applications. Developers expect the network to expand Cardano’s technical capabilities and use cases.

Senate Advances Toward April 3 Vote on Crypto Clarity Act The Senate is moving closer to an April 3 decision on the Crypto Clarity Act. Lawmakers on Capitol Hill are intensifying negotiations as the hearing date approaches. 

The proposal seeks to establish clearer oversight for cryptocurrencies and stablecoins. Supporters argue the framework would modernize rules and strengthen trust across digital asset markets.

Momentum stalled earlier this year when a planned January markup session was abruptly canceled. That delay postponed amendment votes and committee consideration of the legislation. Senator Cynthia Lummis confirmed the Senate Banking Committee intends to revisit the bill in April.

Senator Bernie Moreno urged colleagues to finalize the measure by May to preserve momentum. Debate also reflects broader tensions over decentralized finance oversight and concerns tied to President Donald Trump’s crypto associations.

Cardano Price Outlook: Will ADA Rebound Back To $0.30 This Week As of March 25 ADA price soared to $0.2724 during the latest four-hour session.

Technical indicators show ADA climbing within a well-defined ascending channel on the four-hour chart. 

A successful move above $0.28 could open the path toward $0.30. Analysts project a potential 10% upside if momentum accelerates as per Cardano’s long-term prediction.

The Relative Strength Index is close to 64, indicating rising buying pressure. The indicator is not yet overbought, indicating that it has more upside to go. The MACD, on the other hand, indicates a bullish crossover and histogram bars have become positive.

Source: ADA/USDT 4-hour chart: Tradingview On the negative side, the near-term support in the ascending channel is at $0.26. Any further decline below this value can nullify the short term bullish formation.

Cardano Derivatives Open Interest Climbs 11% as Volume Surges Cardano traders are closely tracking fresh derivatives data as activity surrounding ADA futures gains noticeable momentum.

In the latest data, the derivatives trading volume of Cardano has gone up by 5.9%. The aggregate volume was about 764.07 million, which indicated greater exchanges engagement. There was also a high increase in open interest, which stood at 11% to $422.67 million.

Source: Coinglass An increase in volume and an increase in open interest are often used by market analysts as signs of increasing conviction. This trend may mean that the participants anticipate future price movement in the near future.

Frequently Asked Questions (FAQs)

Midnight may attract privacy-focused developers, potentially increasing network usage and long-term ADA utility.

Clearer regulations may reduce compliance uncertainty and encourage institutional capital inflows.

Morgan Stanley’s long‑awaited spot Bitcoin exchange‑traded fund, the Morgan Stanley Bitcoin Trust (MSBT), has taken a major procedural step toward trading after the New York Stock Exchange confirmed an official listing notice for the product. 

Bloomberg Senior ETF Analyst Eric Balchunas says the listing typically signals a launch is “imminent.”

If approved by regulators, MSBT would mark the first spot Bitcoin ETF issued directly by a major U.S. bank rather than an asset manager. Existing U.S. spot Bitcoin ETFs have been launched by firms such as BlackRock and Fidelity.

Morgan Stanley’s wealth management division oversees one of the largest networks of financial advisors in the industry, with roughly 16,000 advisors and trillions in client assets under management. 

That distribution reach could make MSBT a significant channel for Bitcoin exposure in traditional portfolios.

The ETF’s fee structure has not yet been disclosed. The flagship U.S. spot Bitcoin ETF from BlackRock, iShares Bitcoin Trust (IBIT), currently charges around a 0.25% management fee, with other issuers ranging from 0.20% to 0.30% annually.

Last week, Morgan Stanley confirmed that its proposed spot bitcoin exchange-traded fund will trade under the ticker MSBT on NYSE Arca, according to an updated filing with the U.S. Securities and Exchange Commission.

The filing details the Morgan Stanley Bitcoin Trust, a passive investment vehicle designed to track the spot price of bitcoin through direct holdings. Shares will reflect the value of bitcoin held in custody, allowing investors to gain exposure through brokerage accounts without owning the cryptocurrency directly.

Speaking at the Digital Asset Summit on Tuesday, Amy Oldenburg, Head of Digital Asset Strategy at Morgan Stanley said that Wall Street’s move into digital assets reflects a long-term effort to modernize financial infrastructure. 

“We’ve been on a journey around the entire modernization of financial infrastructure for years,” she said, rejecting the idea that banks are acting out of fear of missing out.

The trust plans to seed the fund with 50,000 shares, expected to raise roughly $1 million in initial proceeds. 

Coinbase Custody Trust Company will serve as the primary bitcoin custodian, holding most assets in cold storage and facilitating transfers tied to share creation and redemption. 

BNY Mellon will handle administration, transfer agent duties, and cash custody, managing accounting, shareholder records, and cash operations for the trust.

The structure mirrors models used across the spot bitcoin ETF market, with a portion of holdings moving into trading wallets during share creation or redemption, when authorized participants exchange cash for bitcoin or redeem shares for the underlying asset.

The filing notes that custody insurance is in place but shared across multiple clients and may not cover all losses, a standard disclosure among spot bitcoin ETFs. 

Micah Zimmerman

Micah first discovered Bitcoin in 2018 but remained a skeptic on the sidelines for too long. Since 2021, he has covered crypto and business and now works as a news reporter for Bitcoin Magazine, based in North Carolina.

Ripple XRP Enters MAS BLOOM Sandbox to Pilot RLUSD Trade Finance Settlement

Ahmed Balaha

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Ahmed Balaha is a journalist and copywriter based in Georgia with a growing focus on blockchain technology, DeFi, AI, privacy, digital assets, and fintech innovation.

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Ripple has joined the Monetary Authority of Singapore’s (MAS) BLOOM sandbox to pilot trade finance settlements using its RLUSD stablecoin. The initiative, conducted in partnership with fintech Unloq, utilizes the XRP Ledger to automate payment release upon programmable triggers.

This is not a proof-of-concept for the future. It is a live test of replacing traditional letters of credit with smart contracts to cut settlement time from days to seconds. By entering the sandbox, Ripple is positioning its enterprise stablecoin directly inside the regulated financial infrastructure of Singapore.

Key Takeaways:

Pilot Scope: Ripple and Unloq are testing programmable RLUSD payments within Singapore’s BLOOM sandbox to automate cross-border trade settlements. Settlement Mechanism: The system replaces manual letters of credit with XRP Ledger smart contracts that trigger instant funds release upon cargo verification. Strategic Context: The move leverages Ripple’s existing Singapore Major Payment Institution license to target the $9 trillion trade finance market. The Mechanism: How Programmable Settlement WorksThis system eliminates the ‘dead air’ in trade finance, the 5-10 day gap between delivery and payment confirmation. Fintech Unloq provides the SC+ infrastructure, a smart-contract layer that digitizes trade obligations. When a predefined condition is met, such as a customs API confirming cargo arrival, the smart contract triggers the XRP Ledger.

The XRPL then executes the settlement using RLUSD, Ripple’s enterprise-grade stablecoin. This is an atomic swap of documentation for capital. There is no correspondent bank intermediary. There is no manual reconciliation. The stablecoin liquidity moves instantly, reducing counterparty risk to near zero.

🇸🇬 BREAKING

Ripple just joined Singapore's MAS BLOOM initiative.

Partnering with Unloq to settle cross-border trade using $XRP Ledger + RLUSD. MAS doesn't let anyone in. They chose Ripple.$XRP is becoming regulated financial infrastructure in real time and most of you are… pic.twitter.com/aDBGbgF7w7

— Xaif Crypto🇮🇳|🇺🇸 (@Xaif_Crypto) March 25, 2026 Prior to this setup, exporters relied on paper-heavy letters of credit and expensive bank guarantees. The BLOOM sandbox allows Ripple to demonstrate that a tokenized bank liability or regulated stablecoin can function as a legally binding settlement instrument.

The pilot specifically targets smaller businesses often priced out of traditional trade finance due to high fees. By automating the verification-to-payment loop, Unloq and Ripple effectively compress the financing cycle.

The Strategic Signal: Why MAS MattersJoining the MAS BLOOM initiative is a credibility play, not a tech demo.

Singapore runs one of the strictest regulatory environments for digital assets in the world. Operating under MAS oversight means Ripple is stress-testing RLUSD where the standards are highest. Pass here and the compliance argument becomes hard to dispute anywhere else.

The bull case is straightforward. Successful execution in the sandbox validates RLUSD as a viable Swift replacement in trade finance. It stops being a speculative asset and becomes critical B2B infrastructure. If programmable settlement captures even a fraction of regional trade flows, demand for RLUSD liquidity spikes on fundamentals, not speculation.

The market Ripple is targeting is not small. Trade finance is a $9 trillion sector running on paper and trust. Ripple is betting it can run on code and collateral instead.

The BLOOM pilot is the test. Graduate from crypto asset to global trade instrument or stay a speculative play waiting for a use case. The outcome answers that question directly.

Discover: The best new crypto in the world

While many are currently concerned about Circle’s stock performance on the NYSE, the company’s partnership with Sasai Fintech, a business of Cassava Technologies, tells an interesting story.

This move isn’t just about expanding into Africa; it’s aimed at tackling a long‑standing challenge: cross‑border payments that remain slow, costly, and inefficient. The plan is to bring USDC into Sasai’s mobile platform, which already supports payments and remittances across multiple African countries. 

USDC x Sasai’s partnership: A green flag Currently, fees can go above 7%, so using a stablecoin like USDC can make transactions faster, cheaper, and more reliable.

By adding USDC into a mobile platform that already supports fast-moving trade, it removes the delays and high costs of traditional systems, where transactions can take days.

Additionally, the partnership is also meant to offer a stable and transparent way to make cross-border payments. This would, in turn, help businesses avoid local currency swings while staying connected to the global market.

Executives weighing in  Remarking on the same, Strive Masiyiwa, Founder and Executive Chairman at Cassava Technologies, said, 

Africa’s digital economy is entering a new era, propelled by entrepreneurship, a mobile-first generation, and the acceleration of intra-regional trade.

Adding more to the sentiment, Jeremy Allaire, co-founder and CEO at Circle, noted, 

Working with Cassava, we can extend the benefits of USDC and onchain infrastructure into high-growth payment corridors to deliver always-on global connectivity.

Stablecoin’s market dynamics: USDC vs. USDT The partnership comes at an important time for stablecoins, which have handled a huge $70.2 trillion in transactions over the past year. While USDT was leading for most of 2025, things started to change in early 2026.

Even though total activity slowed a bit in March after a strong February, USDC has started catching up and even briefly matched USDT’s share.

Source: Visa on-chain analytics This rise in USDC signals a shift away from pure speculation toward more reliable systems, something Circle is now bringing to markets like Africa.

Regulatory clarity and more While Circle expands into Africa, its position in the United States has become shaky due to new regulations.

In 2025, the GENIUS Act gave a positive direction for stablecoins by supporting dollar-backed digital assets. But now, the upcoming CLARITY Act is creating fresh concerns.

This has made investors nervous, as it could directly impact how companies like Circle generate revenue. As a result, Circle’s stock (CRCL) recently saw a sharp drop of nearly 20% on the 24th of March, closing at $101.17.

All this together shows that Circle is at a turning point, dealing with regulatory challenges in the U.S. while building a strong, usage-driven future in markets like Africa.

Final Summary Integrating USDC into Sasai’s mobile network could cut remittance costs and speed up settlements.  The rising competition between USDC and USDT reflects demand for transparency and regulatory alignment.

TL;DR:

Hedera added McLaren Racing as a member of its Governing Council, granting it equal voting rights to those of the rest of its members. McLaren Racing launched a series of free digital collectibles tied to the 2026 Formula 1 and IndyCar seasons on the Hedera network. The first drop took place during the Australian Grand Prix; the next ones are scheduled for the Chinese and Japanese GPs. McLaren Racing joined the Governing Council of Hedera, the governance body of the namesake network, with the goal of developing use cases in fan engagement, digital assets, and data integrity. The British team, which competes in Formula 1 and IndyCar and counts hundreds of millions of followers across more than 180 countries, will hold equal voting rights to those of the rest of the members and will actively participate in the development of the protocol.

Nick Martin, Co-Chief Commercial Officer of McLaren Racing, stated that the incorporation into the Council allows the team to contribute to the evolution of the network and offer a “seamless, secure, and scalable” fan experience on a global scale. Mance Harmon, Chairman of the Hedera Council, highlighted that McLaren brings international reach, a digitally native fan base, and a proven track record of innovation.

Hedera Will Launch Fan Collectibles Straight from the Pit Lane The first concrete use case is a series of free-to-mint digital collectibles under the McLaren Racing brand, designed with creative elements tied to each race and venue. The project made its debut during the Australian Grand Prix. A second drop is planned for the Chinese GP and a third for the Japanese GP. All transactions will run on the Hedera network through native wallets and social login wallets for Web2 users.

The program aims to become an entry point into the Web3 ecosystem for both motorsport fans with no prior blockchain experience and network users unfamiliar with the world of racing. Collectible holders will have access to on-chain activities and will be integrated into the team’s community on Discord.

More projects tied to the Formula 1 season will be announced throughout the year. McLaren Racing’s leadership will participate in HederaCon, the ecosystem’s flagship conference, on May 4 in Miami Beach, an event that coincides with the Miami Grand Prix and with Consensus 2026.

18h05 ▪ 3 min read ▪ by Eddy S.

Summarize this article with:

The countdown is on! This Friday, March 27, 2026, a record expiration of $14 billion worth of Bitcoin options will shake the market. Why does the $75,000 level attract all the attention? Decoding an event that could reshape BTC trends in the coming days.

In brief $14 billion worth of Bitcoin options expire this Friday, March 27, 2026, representing 40% of the total open interest. $75,000 acts like a magnet, attracting the market, due to his role as “Max Pain”. Traders are monitoring the $75,000 level to adjust their positions, while market makers could influence the price. Expiration of $14 Billion Worth of Bitcoin Options  While Bitcoin mining is in critical danger, an exceptional event will take place this Friday, March 27, 2026: the expiration of Bitcoin options. Indeed, with $14.16 billion at stake, it represents nearly 40% of the total open interest on Deribit. This colossal volume draws attention to a key level: $75,000. Nicknamed “Max Pain”, it indicates the price at which the greatest number of options expire worthless, causing maximum losses for holders.

Expiration of Bitcoin options on March 27, 2026, with $75,000 as “Max Pain”. Accordingly, market makers can manipulate the bitcoin spot price to bring it closer to this level, minimizing their payouts. Analysts point out that $75,000 acts as a magnet, a convergence point toward which BTC price could be drawn as expiration approaches. If bitcoin manages to break through it, this could trigger a significant bullish move, propelling the crypto queen to new heights.

How to Take Advantage of the BTC Options Expiration? For traders, this expiration offers opportunities as well as major risks. Thus, some bet on call options above $75,000, anticipating a rise. Meanwhile, others favor put options to hedge against a correction. The current Put/Call ratio at 0.63 indicates a predominance of calls, reflecting a rather optimistic sentiment, but with increased caution.

Long-term investors, meanwhile, must monitor market reactions post-expiration. Indeed, a close above $75,000 could confirm an uptrend, while a failure to break this level could signal a correction. Moreover, geopolitical tensions like uncertainties related to Middle East conflicts add a layer of complexity. This can influence short-term volatility.

This massive Bitcoin options expiration marks a turning point for 2026. With $75,000 as a pivot level, the coming days will be critical to determine if bitcoin begins a new bullish phase or a prolonged consolidation. And you, do you think BTC will break $75,000 after this expiration, or is a correction to be expected?

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Eddy S.

The world is evolving and adaptation is the best weapon to survive in this undulating universe. Originally a crypto community manager, I am interested in anything that is directly or indirectly related to blockchain and its derivatives. To share my experience and promote a field that I am passionate about, nothing is better than writing informative and relaxed articles.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

The update zeroes in on how market maker setups are structured, signaling that deal terms and trading behavior are now part of Binance's scrutiny.

Bitmine Immersion Technologies has launched MAVAN, an institutional-grade Ethereum staking platform that will run validator infrastructure for its own holdings and external clients.

Staking involves locking up Ether to help validate transactions on the network in exchange for rewards.

The rollout takes advantage of Bitmine’s position as the largest public company holder of Ether (ETH), with more than 3.1 million ETH already staked. MAVAN, or Made in America Validator Network, is the company’s proprietary Ethereum staking platform.

The platform was initially developed to support Bitmine’s existing Ethereum treasury and is now being opened to institutional clients and custodians, who are expected to bring additional ETH holdings onto the platform in the coming weeks.

Bitmine said it staked 101,776 ETH over the past week and plans to continue increasing the amount allocated to MAVAN as it moves to stake most of its remaining Ether holdings. The company estimates staking rewards could approach $300 million annually based on current yields.

The new staking platform will use US-based infrastructure alongside a globally distributed setup and is expected to be expanded onto additional proof-of-stake networks and blockchain services.

Bitmine is targeting institutions, custodians and exchanges, with backing from investors including ARK Invest, Founders Fund, Kraken, Pantera Capital, Digital Currency Group and Galaxy Digital.

According to data from CoinGecko, Bitmine currently holds 4,660,903 ETH, has added 238,244 ETH over the past 30 days, and accounts for approximately 3.86% of the total Ether supply.

The company said it plans to continue increasing its Ether holdings, with a stated goal of acquiring 5% of the total ETH supply. 

Top 10 Ethereum treasury companies. Source: CoinGeckoInstitutional demand reshapes Ethereum staking infrastructureEthereum staking has become increasingly tailored to institutional users, as demand grows for yield alongside compliant, institution-grade infrastructure.

In February, Lido, the largest liquid staking protocol, introduced a modular upgrade that allows institutions to customize staking setups, including validator configuration and withdrawal parameters. Konstantin Lomashuk, a founding contributor at Lido, said institutional users already make up a significant share of its total value locked, with demand continuing to grow.

The trend extends to the protocol level. The same month, the Ethereum Foundation announced it had begun staking part of its treasury, with plans to allocate around 70,000 ETH to validators and direct rewards toward ecosystem development.

Staking is also being integrated into investment products. In October, Grayscale introduced staking for its Ether ETFs, allowing the funds to generate income from staking. Earlier this month, BlackRock debuted the iShares Staked Ethereum Trust (ETHB), a Nasdaq-listed product that combines spot Ether exposure with staking-based yield.

Ether was trading around $2,164 at last look, up roughly 4.6% over the past year, according to CoinGecko data. The asset has remained well below its mid-2025 highs above $4,000.

Ethereum price chart over the past year. Source: CoinGeckoMagazine: The dirty secret about quantum signatures: No one knows if they work

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Read our Editorial Policy https://cointelegraph.com/editorial-policy

Franklin Templeton is launching two exchange-traded funds that can be traded directly through crypto wallets around the clock. It marks a shift in how traditional financial products are accessed and settled. 

The move brings equity and bond exposure onto blockchain rails, at a time when tokenized assets on Ethereum alone are approaching $13.6 billion.

The asset manager said the funds — one tracking the S&P 500 and another focused on short-term U.S. Treasuries — will be issued on Ethereum and available for trading 24/7. 

Investors will be able to buy, sell, and hold shares using self-custody wallets, removing the need for traditional brokerage accounts and standard market hours.

Franklin Templeton is also working with Ondo Finance to support the tokenized distribution of the funds. 

According to Bloomberg, the collaboration will allow the ETFs to trade in crypto wallets continuously, bypassing the brokerage infrastructure that has traditionally defined ETF access.

Franklin Templeton launches ETFs that trade directly in crypto wallets The two ETFs are designed as fully on-chain products, allowing peer-to-peer trading without relying on centralized intermediaries.

While access through traditional brokers will still be supported, the core functionality shifts toward wallet-based ownership and transfer.

Franklin Templeton said the funds will operate under a hybrid structure, allowing shares to be created or redeemed in both fiat currency and stablecoins. This model is intended to bridge conventional financial systems with blockchain-based settlement.

The firm has already expanded its digital asset footprint in recent years. This includes the launch of an on-chain money market fund and is now extending that approach to broader asset classes.

How the funds work without brokers or market hours Unlike traditional ETFs, which are limited by exchange trading hours and settlement timelines, the new funds are designed to function continuously. Transactions can occur at any time, with ownership recorded directly on-chain.

This setup reduces reliance on intermediaries and shortens settlement cycles, while giving investors direct control over their holdings through self-custody wallets.

The funds will also be compatible with platforms that support on-chain settlement, allowing participation from both crypto-native users and traditional investors.

Tokenized assets on Ethereum near $13.6B as Treasuries dominate growth Franklin Templeton’s move comes as tokenized real-world assets continue to expand on Ethereum. 

Data shows total on-chain RWA market capitalization on the network has reached approximately $13.6 billion. Also, around $9.86 billion is actively circulating across 36 issuers.

Source: DefiLlama Within that market, tokenized U.S. Treasury products account for roughly $11.8 billion, making them the largest segment. 

This aligns closely with Franklin Templeton’s decision to include a Treasury-focused ETF, suggesting the firm is targeting an already established demand base.

Growth has accelerated since 2024, with tokenized funds and credit products driving most of the expansion. The trend points to increasing institutional participation, as asset managers test blockchain-based distribution and settlement models.

The ETFs are expected to launch in the coming weeks, pending regulatory clearance.

Final Summary Franklin Templeton’s ETFs shift trading from broker-led systems to wallet-based, 24/7 access on Ethereum. The launch aligns with a $13.6B tokenized asset market where Treasuries already dominate demand.

Over 350 billion SHIB tokens hit exchanges in 24 hours. Netflow spikes 6.23%, a strong bearish signal for Shiba Inu price action.

Shiba Inu's on-chain activity is sending clear bearish signals. Exchange netflow data shows a sharp 6.23% spike in the last 24 hours, pointing to a significant increase in selling activity among SHIB holders.

According to crypto analytics platform CryptoQuant, the difference between tokens flowing into and out of exchanges stands at +356,831,500,000 SHIB as of Wednesday, March 25. A positive netflow reading of this magnitude means that more tokens are entering exchanges than leaving, a reliable indicator of sell-side pressure building in the market.

The spike comes after SHIB had recorded daily price gains of over 3%. The asset has since pulled back sharply. It now trades at $0.00000612, up 0.36% over the past 24 hours.

Over 350 Billion SHIB Tokens Hit Exchanges in 24 HoursThe scale of the inflow is notable. More than 350 billion SHIB tokens moved onto exchanges within a single day. This volume suggests that a meaningful segment of the holder base shifted from a holding posture to an active selling stance.

When exchange netflow turns sharply positive, it typically means holders are depositing tokens in preparation for liquidation. The sheer size of the inflow relative to outflows reinforces that interpretation. Buyers did not absorb the supply at the same pace. The imbalance left the netflow metric at a level analysts consider strongly bearish.

Traders watching SHIB's short-term price action will note that the momentum shift aligns with this metric. The mild price increase now registered is a stark contrast to the prior momentum. It suggests the selling activity has already weighed on market sentiment, even if a full correction has not materialized.

The data reflects a broader pattern seen in volatile meme-based assets. Holders often lock in gains quickly when prices rise sharply. That behavior tends to generate sudden spikes in exchange inflows. SHIB's structure with trillions of tokens in circulation makes such movements more visible at the data level.

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Newton Gitonga covers cryptocurrencies, blockchain, and digital finance. He specializes in breaking down complex trends with clear, data-driven reporting. His work focuses on market analysis, technical insights, and the evolving role of altcoins in shaping global markets.

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The SpaceX IPO TimelinePolymarket bettors give SpaceX a 90% chance of going public by September 30 and a 70% chance by June 30. 

The company targets a June listing with Goldman Sachs, JPMorgan, Morgan Stanley, and Bank of America in senior roles.

On valuation, 49% of traders expect the closing market cap to exceed $2 trillion, which would place SpaceX as the 6th largest company by market cap below Amazon and above TSMC. 

SpaceX quietly raised its Falcon 9 launch price from $69.75 million to $74 million between mid-January and early February, fattening margins ahead of the S-1.

The Starlink Growth EngineThe SpaceX IPO is really about Starlink, a satellite internet network that crossed $10 billion in revenue in 2025 with estimates for 2026 pointing to $15 billion to $24 billion. 

Starlink grew from roughly 1 million users in 2022 to over 9 million in early 2026, with tens of thousands of new users added daily across more than 150 countries.

Investors buying SpaceX at IPO will also be buying xAI, Elon Musk’s AI venture merged into SpaceX in February at a combined $1.25 trillion valuation. 

The deal bundled Starlink’s 9.2 million subscribers, the Grok chatbot, and the X social media platform.

DOGE Wedge ApexDogecoin has lost nearly 65% from its $0.28 September peak inside a descending channel that is now compressing to a breaking point. 

The wedge has been tightening since November, with the upper boundary converging toward $0.10-$0.101 and the lower boundary sitting near $0.093-$0.094.

DOGE derivatives show rising participation with volume up 16.5% and open interest climbing 12.3%, signaling renewed trader activity. 

However, funding rates remain near neutral while liquidations skew short-heavy, suggesting cautious bullish positioning but no strong directional conviction yet.

The EMA stack remains bearish. The 20 EMA at $0.09491 is the only level price is wrestling with, while the 50 EMA at $0.09989, Supertrend at $0.10704, 100 EMA at $0.11418, and 200 EMA at $0.13969 form a layered ceiling above.

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The guidelines ban profit-sharing and guaranteed return arrangements, aiming to prevent conflicts of interest and manipulative trading. Mar 25, 2026, 3:39 p.m.

Binance, the largest crypto exchange by volume traded, released guidelines placing tighter obligations on token issuers and liquidity providers.

The new rules require projects to disclose their market maker's identity, legal entity and contract terms. They also ban profit-sharing and guaranteed-return arrangements, which the exchange said can create incentives that conflict with fair trading. Token lending agreements must clearly say how borrowed tokens can be used.

The rules are "intended to help projects conduct stronger due diligence on their market-maker partners and remind users to be mindful of market conditions," a Binance spokesperson said in an email. The company is looking to foster "a fair and efficient marketplace, and we do not tolerate misconduct."

The new policy targets a part of the crypto market that often works behind the scenes. Market makers usually post buy and sell orders to keep trading active and reduce sharp swings in price, which, in a healthy market, can help users buy or sell without major slippage, especially when a token is newly listed.

Binance said problems occur when firms act less like neutral liquidity providers and more like sellers with hidden incentives. The exchange flagged behavior such as selling that clashes with token release schedules, one-sided trading and activity that inflates volume without moving prices in a natural way.

In the blog post, Binance said it will take “swift, decisive action against any misconduct,” including blacklisting market makers. It’s unclear whether Binance plans to name the market makers it blacklists.

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The move expands access to U.S. markets as tokenized securities gain traction among digital investors.

What to know:

Ondo Finance is partnering with Franklin Templeton to offer tokenized versions of traditional investment products on blockchain, aiming to bridge conventional finance and crypto infrastructure.The collaboration will use Ondo Global Markets to issue tokens backed by real-world assets like stocks and ETFs, while Franklin Templeton supplies products and education...

Bitcoin (CRYPTO: BTC) has remained range-bound since February, prompting questions about what could drive a shift in the months ahead.

Tax Day As Turning PointBitcoin may continue trading sideways until mid-April, with U.S. Tax Day acting as a key catalyst for the next move, according to Bitwise CIO Matt Hougan.

Hougan and Bitwise Head of Research Ryan Rasmussen said in an appearance on the Milk Road podcast that Bitcoin's near-term outlook is split into two phases, with Apr. 15, U.S. Tax Day, marking a potential inflection point.

They expect crypto markets to remain flat or slightly weaker into mid-April, as investors who realized gains in 2025 may sell holdings to meet tax obligations, creating temporary pressure.

After Apr. 15, they see a more bullish setup.

Once tax-driven selling subsides, Bitcoin could begin a stronger rally, potentially kicking off the next "crypto spring" and pushing toward new highs if macro conditions improve.

Bitcoin "A Forward-Looking Liquidity" IndicatorHougan said Bitcoin is acting as a forward-looking indicator of liquidity, often reacting to shifts earlier than traditional assets.

Despite ongoing geopolitical tensions, BTC has remained relatively stable, suggesting price action is being driven more by crypto-specific factors such as institutional adoption and long-term cycles.

The broader outlook remains constructive, he said, citing rising institutional interest, improving regulatory clarity and a market structure that "feels like a coiled spring," with potential for a sharp move once uncertainty fades.

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Ripple advances XRP-powered settlement ambitions as it integrates XRPL and RLUSD into Singapore’s central bank initiative, accelerating institutional adoption of tokenized payments and programmable finance across global trade and cross-border systems.

Ripple Joins Singapore Central Bank’s Effort to Drive Tokenized Settlement Systems Efforts to modernize cross-border settlement systems are accelerating as Ripple announced on March 25 that it has joined the Monetary Authority of Singapore (MAS) BLOOM initiative, incorporating XRP Ledger (XRPL) infrastructure and Ripple USD (RLUSD) stablecoin into programmable settlement models. The collaboration centers on tokenized bank liabilities and regulated stablecoins for conditional payment execution.

Participation involves a pilot with supply chain finance firm Unloq, focusing on trade settlement execution through integrated workflows and conditional payment triggers. Ripple explained:

“The solution leverages Ripple’s institutional-grade infrastructure, the XRP Ledger (XRPL), and Ripple USD (RLUSD) – a trusted, enterprise-grade stablecoin, designed for enterprise use cases.”

Fiona Murray, Managing Director, Asia Pacific at Ripple, said: “Singapore continues to take a leading role globally in providing the regulatory clarity necessary for the digital asset space to thrive.”

Singapore’s central bank detailed BLOOM in October 2025 as a continuation of Project Orchid, which explored a digital Singapore dollar and its supporting infrastructure. The initiative targets expanded use of tokenized commercial bank money and compliant stablecoins across G10 and Asian currencies, spanning domestic and cross-border payments, trade finance, corporate treasury, and agentic transactions.

Programmable Payments and Blockchain Infrastructure Expand Reach Through the program, MAS coordinates industry efforts across distribution and clearing of settlement assets, standardized compliance automation, and AI-driven payment execution within predefined parameters. Initial participants include Anchorage Digital, Ant International, Circle, Coinbase, DBS, J.P. Morgan, Kasikorn Bank, OCBC, Partior, Schroders, Standard Chartered, Straitsx, Stripe, Temasek, UOB, and Xweave, alongside entities exploring public blockchain-based trials.

Unloq’s SC+ platform underpins the framework by combining trade obligations, settlement logic, and financing processes into a unified execution layer operating on blockchain infrastructure. The system automates payment release once contractual conditions are met while maintaining interoperability with existing financial processes. Murray noted:

“Built on the XRP Ledger, SC+ solution, Unloq’s smart-contract-driven trade finance platform uses RLUSD to automatically trigger payments the moment the shipment is verified.”

“This partnership combines Unloq’s supply chain expertise with Ripple’s secure technology to make global trade faster and more transparent,” the Ripple executive opined.

Collaboration with Singapore’s central bank initiative positions the pilot within a regulated environment intended to test scalable infrastructure for future financial networks. Letitia Chau, President and Chief Risk Officer of Unloq, stressed: “BLOOM represents an important step toward modernising trade finance infrastructure in a controlled and regulated environment.”

FAQ 🧭 Why does Ripple joining BLOOM matter for investors?
It signals deeper institutional adoption of XRPL and RLUSD in regulated financial systems. What is BLOOM aiming to achieve in global finance?
It seeks to enable programmable, tokenized settlement across cross-border and domestic markets. How does RLUSD fit into the initiative?
RLUSD acts as a compliant stablecoin powering automated settlement and trade finance execution. What is the significance of MAS involvement?
MAS provides regulatory oversight that could accelerate scalable blockchain adoption by major institutions.

The long-standing legal saga surrounding XRP is once again under scrutiny after analyst Jesse from Apex Crypto Insights shared views hinting the case may not have been what it seemed.

In a recent discussion, Jesse described the lawsuit involving Ripple Labs as potentially strategic rather than purely legal, stating that his initial belief was that the entire episode might have been orchestrated.

“To me, I’ve always said I think this was a coordinated plan… maybe to scare retailers out and justify a low price for a while,” Jesse said.

A Theory of Market PressureAccording to Jesse, one possible explanation behind the lawsuit was to temporarily suppress XRP’s price. This, he suggested, could have allowed time for institutional partnerships and ecosystem development without excessive retail speculation.

He described the situation as a “teeter,” implying a controlled balancing act rather than a full-scale attack.

“I always thought it was just all teeter… to justify a low price so they have time to incentivize partners,” he added.

Doubt Creeps In After New RevelationsHowever, Jesse acknowledged that his perspective shifted after reviewing what he referred to as newly surfaced documents, which hinted at the possibility of a more deliberate attempt to target XRP.

“When the files came out… showing they were trying to attack XRP, I started to think maybe it wasn’t just a teeter,” he said.

Despite this, he remains uncertain, estimating only a “20% chance” that the lawsuit represented a fully genuine regulatory action rather than a coordinated move.

Market Impact and Ongoing DebateThe XRP lawsuit has had a profound impact on the cryptocurrency’s price, adoption, and regulatory perception since it began. While parts of the case have moved toward resolution, discussions like Jesse’s show that questions around intent, fairness, and broader implications remain far from settled.

Whether viewed as a calculated strategy or a legitimate enforcement action, the XRP case continues to shape how regulators and investors approach the wider crypto market.

Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.

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The Bitcoin price has started to stabilize around the $70K region after a sharp pullback, with signs of easing sell-side pressure and improving ETF flows. The immediate downside momentum has slowed, but the recovery still lacks conviction.

Spot volumes remain muted, and overhead supply continues to cap upside moves. This puts BTC in a familiar position—stabilizing, but not yet breaking out. The next move depends on whether fresh demand steps in or if the price remains stuck in a broader range. Below is the on-chain data from Glassnode, which suggests that the breakout may not be nearby.

Short-Term Holder Cost Basis Signals Overhead PressureThis heatmap tracks where short-term holders accumulated Bitcoin, essentially showing where supply is concentrated across price levels. Right now, a significant portion of that supply sits above the current price, particularly in the $75K–$90K range. This creates a clear overhead resistance zone. Many of these holders are currently at a loss, and as the price moves higher, they are likely to sell at breakeven. That’s what makes upside moves slow and difficult to sustain.

On the other side, the $65K–$70K range is starting to build as a support cluster. This is where newer buyers have stepped in and are holding their positions, preventing further downside for now. So the structure is quite clear—Bitcoin is trading between a strong support base below and heavy supply above. Until that overhead supply gets absorbed or cleared, any rally is likely to face resistance, keeping the price stuck in consolidation.

Unrealized Loss Spikes Hint at Weak Hands Being FlushedThis chart tracks how much of the market is sitting at a loss over time. Right now, unrealized losses are starting to rise again, which means a growing number of participants are holding Bitcoin below their entry price. This typically happens during pullbacks, when recent buyers get trapped.

In earlier cycles, sharp spikes in this metric marked capitulation phases, where weak hands exited and strong hands accumulated. However, the current levels are still relatively moderate compared to those extremes. The trade set-up suggests that some pressure is building, but not enough to signal a full market reset. This explains the current price action. Bitcoin is stabilizing, but without a strong flush or aggressive accumulation, momentum remains limited.

Funding Rates Turn Negative as Sentiment WeakensPerpetual funding rates have flipped negative across exchanges, showing that short positions are gaining dominance in the market. This shift reflects weak sentiment and a lack of aggressive long positioning. Earlier, positive funding showed aggressive long positioning during the uptrend. But the shift to negative funding suggests that confidence has dropped, and the market is no longer chasing upside.

At the same time, persistent negative funding can act as a setup for short squeezes, but only if spot demand returns. Without that, it simply confirms bearish pressure. So the setup is clear—sentiment has turned cautious, but positioning is starting to get crowded on the short side. This keeps Bitcoin in a range for now, but also leaves room for sharp moves if sentiment flips.

Options Gamma Shows Heavy Resistance Above PriceOptions data highlights significant negative gamma exposure around the $70K–$75K range, indicating strong dealer hedging pressure. This creates resistance on upward moves and increased volatility near key levels. When gamma is negative, it tends to amplify price moves. On the upside, it creates resistance as dealers hedge by selling into rallies. On the downside, it can accelerate drops as selling pressure increases.

In simple terms, even if BTC attempts to push higher, derivatives positioning may slow the move unless strong spot demand absorbs it. The current range is heavily controlled by derivatives’ positioning, making breakouts harder in the short term. Until this gamma pressure eases or gets absorbed, Bitcoin is likely to stay volatile but range-bound around these levels.

Conclusion – What to Expect This Quarter EndBitcoin is not in a breakdown, but it’s also not in a confirmed recovery. The market is clearly waiting for liquidity.

Support is forming around $65K–$70K.Resistance remains heavy above $70K–$75K.Sentiment is weak, but not extremeFor the rest of the quarter, BTC is likely to remain range-bound unless a strong demand catalyst emerges. A breakout above resistance would require sustained spot inflows, while failure to hold support could bring another leg lower. Right now, Bitcoin price is in a transition phase—not a bearish collapse, but not bullish expansion either.

Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.

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Real‑world asset tokenization on XRPL has surpassed $2.3 billion, yet XRP’s price has fallen 40% in 2026. The thesis that ecosystem growth automatically translates into appreciation of the native token deserves to be revisited: XRPL’s structural design allows institutions to capture its benefits without being exposed to XRP, and that is the real narrative the market has yet to process.

Since January 2026, XRP Ledger has added more than $1.3 billion in tokenized assets. Société Générale has launched its euro stablecoin on the network. Aviva Investors has announced the tokenization of its investment funds. SBI Holdings has issued on‑chain bonds with XRP rewards. The list of institutions choosing XRPL grows every week.

In that same period, XRP has lost 40% of its value against the dollar and 35% against Bitcoin.

The dominant narrative within the community holds that institutional adoption of XRPL will inevitably drive demand for XRP. This thesis, repeated in forums and market analyses, rests on an assumption that the data contradicts: that network usage implies usage of the native token as something more than a marginal fee payer.

Ripple surveyed 1,000+ global finance leaders in 2026. A few things stood out: https://t.co/414dTO9Qit

→ 72% say digital assets are now table stakes to stay competitive
→ 74% see stablecoins as a cash-flow tool, not just a payment rail
→ 89% of those surveyed say digital…

— Ripple (@Ripple) March 19, 2026

What we are witnessing is not a temporary market failure, but a structural revelation about how value capture actually works on blockchains designed for institutions.

The data that define the disconnect Metric 1: Extreme holder concentration

As of March 2026, XRPL has only 22 holders of tokenized assets that concentrate the $2.3 billion in value. The JMWH Energy token, representing $861 million in megawatt‑hours of energy, has 12 holders. This is not a liquid market; it is a record‑keeping system for bilateral institutional transactions using XRPL as settlement infrastructure, not as an open exchange platform.

Metric 2: Stablecoin dominance

Of the $2.3 billion tokenized on XRPL, $1.1 billion corresponds to RLUSD and EURCV, stablecoins denominated in dollars and euros. When institutions like Société Générale tokenize their euro stablecoin, the operation can be carried out without any party needing to hold XRP beyond the fraction of a cent required to pay the transaction fee.

Metric 3: XRP burn has collapsed

The daily volume of XRP burned has dropped 95% since December 2024, from 15,000 XRP per day to a current range of 163 to 750 XRP. Over the entire history of XRPL, only 14 million XRP have been burned, equivalent to 0.014% of total supply. To put it in perspective: even if tokenized asset activity generated a burn rate 100 times higher than today, it would still take decades to create meaningful scarcity.

Metric 4: ODL without proportional growth

The use of XRP for cross‑border payments via On‑Demand Liquidity (ODL), which does generate buy demand for the token, has not shown the same growth as tokenization. ODL volumes remain at levels that do not, on their own, explain sustained buy pressure.

Historical context: why Ethereum is not the model Those who project onto XRP the same behavior as Ethereum are making an error of analogy. On Ethereum, tokenized assets (ERC‑20s) require ETH for every interaction: transfers, approvals, contract interactions. Network congestion during usage peaks has pushed gas fees above $50, creating forced demand for ETH.

XRP Ledger was designed with a different approach. Its native features — Multi‑Purpose Tokens (MPTs), Clawback, Credentials — allow tokenized assets to operate without the need for complex smart contracts. The network was not conceived to generate scarcity through fees, but to maximize operational efficiency.

This design difference, once a competitive advantage for attracting institutions, has become the Achilles’ heel of the value‑capture thesis. Institutions can deploy billions in assets on XRPL, meet all regulatory requirements, settle transactions in seconds, and do it all with an aggregated XRP cost that barely exceeds a few hundred dollars per day.

The counter‑argument: what do those who hold the opposite thesis say? There is a valid argument in favor of XRP eventually capturing value from XRPL’s growth, and it deserves consideration.

Argument 1: Native lending protocol (XLS‑66)

Later in 2026, XRPL will incorporate a native lending protocol that will allow XRP to be used as loan principal and as collateral. Evernorth has already announced its intention to use this mechanism to generate institutional yield on its XRP holdings. If this market takes off, it could create significant structural demand for the token.

Argument 2: Permissioned DEX (XLS‑81)

Since February 2026, XRPL has had a decentralized exchange with access controls that allows institutions to trade tokenized assets in KYC/AML‑compliant environments. If these markets use XRP trading pairs, they would generate sustained demand.

Argument 3: Tokenization as a precursor phase

Those who defend the positive thesis argue that the current phase — institutions tokenizing assets on XRPL without using XRP — is only an initial stage. Once tokenized assets reach critical mass and become fractionalized for retail investors, the need for XRP as a bridge asset and collateral will emerge naturally.

These arguments are technically sound, but they depend on two conditions being met: first, that the new protocols (lending, DEX) achieve real adoption; second, that issuers of tokenized assets choose to use XRP as a medium of exchange instead of continuing to operate in stablecoins.

What would invalidate my thesis? If over the next six months we observe that (a) lending volumes in XRP exceed $500 million, (b) at least three of the major RWA issuers incorporate XRP as a trading pair in their products, and (c) ODL volumes consistently exceed $500 million per day, then the current disconnect would indeed be a transitory phase and not a structural feature.

Asset tokenization on XRP Ledger is an undeniable success But the thesis that this success will translate into XRP appreciation requires a more rigorous examination than it has received. The available evidence suggests that XRPL has achieved what few blockchains have: becoming a financial infrastructure adopted by institutions that value efficiency, regulatory compliance, and low costs. The cost of that design is that the native token can remain relegated to a marginal role in the ecosystem it underpins.

If over the next three months the total tokenized value on XRPL exceeds $5 billion, but (a) the number of RWA holders remains below 100, (b) the percentage of tokenized value denominated in stablecoins stays above 40%, and (c) daily XRP burn volumes do not consistently exceed 5,000 units, then the disconnect between network adoption and token value will have consolidated as a structural, not transitory, feature.

The relevant question for those evaluating XRP is not whether XRPL will continue to grow — it will — but under what conditions that growth will generate demand for the native token. Until those conditions materialize, the narrative of automatic value capture remains an untested hypothesis, sustained by incorrect analogies to other networks and not by the network’s own data.

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US spot Bitcoin ETFs are on the verge of fully reversing their year-to-date outflows, even after Bitcoin endured a roughly 40% drawdown over the past six months, a resilience that is beginning to stand out against historical precedent in other asset classes.

Data shared by Bloomberg ETF analyst Eric Balchunas shows aggregate Bitcoin ETF flows turning sharply positive in recent weeks. While the group still sits at approximately -$140 million year-to-date, the pace of recent inflows suggests that deficit is close to being erased. Over the past month alone, Bitcoin ETFs have attracted roughly $2.59 billion, underscoring a notable shift in investor behavior.

BlackRock’s IBIT Leads Bitcoin ETF Rebound At the center of the rebound is BlackRock’s IBIT, which has pulled in $1.32 billion in net inflows year-to-date, placing it in the top 2% of all ETFs by flows. Over the past month, IBIT alone has attracted $2.23 billion, with an additional $212 million over the last week, signaling persistent demand despite broader market volatility.

Other funds are contributing to the recovery, albeit at a smaller scale. Fidelity’s FBTC and ARK’s ARKB remain under pressure on a year-to-date basis, posting -$1.13 billion and -$193 million respectively. Grayscale’s GBTC is also in the red with outflows at -$730 million.

US Bitcoin ETF data | Source: X @EricBalchunas Still, the broader picture has improved materially. Several mid-tier products, including BITB, BTC, and HODL, are showing positive inflows year-to-date, while smaller funds like EZBC and BRRR have quietly added tens of millions in net demand. The aggregate effect is a market that has absorbed significant selling pressure earlier in the year and is now approaching equilibrium.

Balchunas framed the development as unusual in historical context, particularly given the magnitude of Bitcoin’s recent correction. “Yeah bitcoin ETFs now $2.5b for month and one good day away from completely digging out of their YTD flow hole,” he wrote, adding that IBIT has already crossed that threshold. “Again, incredible fortitude in face of 40% 6mo price drop and widespread media pile on.”

He contrasted this behavior with gold during a comparable period of stress. “For context, when gold fell 40% in short time frame about 10yrs ago, it saw 1/3 of its investors bail (not that that’s bad either, that’s normal, btc is just abnormal).” The implication is not that Bitcoin is inherently more stable, but that its investor base—at least in ETF form—has demonstrated a higher tolerance for drawdowns.

That observation aligns with Balchunas’ broader view on how both assets function within portfolios. In a separate note, he emphasized that neither Bitcoin nor gold should be evaluated through short-term performance alone, particularly given their inconsistent correlation properties. “Bitcoin is similar but with more correlation (0.45) with stocks. Both unpredictable but valid asset classes and shouldn’t be judged based on short time frames.”

At press time BTC traded at $71,322.

BTC must break above $74,500 1-week chart | Source: BTCUSDT on TradingView.com Featured image created with DALL.E, chart from TradingView.com

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Jake Simmons has been a Bitcoin enthusiast since 2016. Ever since he heard about Bitcoin, he has been studying the topic every day and trying to share his knowledge with others. His goal is to contribute to Bitcoin's financial revolution, which will replace the fiat money system. Besides BTC and crypto, Jake studied Business Informatics at a university. After graduation in 2017, he has been working in the blockchain and crypto sector. You can follow Jake on Twitter at @realJakeSimmons.

In a move that shows the growing convergence between traditional banking and blockchain technology, Monument Bank has announced plans to introduce tokenised retail deposits using blockchain infrastructure.

The initiative, developed in collaboration with the Midnight Foundation, aims to allow customers to hold digital versions of their bank deposits while maintaining the same protections and benefits as conventional savings accounts.

Unlike cryptocurrencies, these tokenised deposits are not separate assets. Instead, they act as digital representations of funds already held within the bank. Each token is backed one-to-one by traditional deposits, meaning customers can still redeem their holdings in pounds sterling while earning interest as usual.

This is one of the largest deals we've ever done and could bring hundreds of millions to billions of TVL to the Midnight ecosystem. I'm extremely proud of @F_ZK_Now and his team at the @midnightfdn for the hard work they put into the negotiations with Monument.

Midnight is the… https://t.co/T98Z1jVEQR

— Charles Hoskinson (@IOHK_Charles) March 25, 2026 The project is expected to begin with a rollout of up to £250 million in deposits. This marks an early step in what could become a broader transformation in how banks manage and deliver financial products using blockchain systems.

Beyond simple tokenisation, the bank is planning a phased expansion of services. Future stages may introduce access to tokenised investment products, including asset classes such as private equity and commodities. Traditionally, these opportunities have been limited to institutional investors or high-net-worth individuals, but tokenisation could make them more widely accessible.

Another planned feature includes the ability for customers to borrow against their tokenised assets. This approach would allow users to unlock liquidity without needing to sell their investments, reflecting services typically associated with private banking.

An important component of the initiative is the use of privacy-focused blockchain technology. The infrastructure is designed to ensure that sensitive financial data remains accessible only to authorised parties, addressing regulatory concerns around transparency and data protection in decentralised systems.

The development comes as financial institutions worldwide continue to explore tokenisation as a way to improve efficiency and expand access to financial markets. While many projects have focused on institutional use, this approach places retail customers at the centre, potentially marking a shift toward more mainstream adoption of blockchain-powered banking solutions.

Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.

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Cardano is attempting to turn the imminent mainnet launch of the Midnight network, a privacy-focused sidechain, into a repair job as market data signals extreme negative sentiment toward its native ADA token.

Data from Santiment shows that the average wallet active on the Cardano network over the past year has earned a negative 43% return on its investment.

At the same time, Binance funding rates currently show the largest short position ratio against ADA since June 2023.

Cardano's Weekly Short Position Hits Record High (Source: Santiment)These data points, coupled with a 71% price decline since September, have pushed ADA into a zone that professional traders often flag as a prime capitulation point.

In a zero-sum derivatives market, the historical consensus is that the token will continue to decline. However, this sets the stage for a potential short squeeze if a fundamental catalyst forces over-leveraged traders to suddenly cover their positions.

Midnight's imminent launchThat catalyst could be Midnight, a programmable privacy layer that Cardano developers have been building for more than eight years.

The network is officially targeting a launch later this week and will operate with a federated set of node operators that includes Google Cloud, Telegram, Blockdaemon, Shielded Technologies, AlphaTON, MoneyGram, Pairpoint by Vodafone, and eToro.

The timing of this infrastructure rollout is critical because Cardano’s own base-layer numbers remain drastically low relative to its overall market valuation.

According to CryptoSlate data, ADA is trading at $0.2639 as of press time, giving the token a market capitalization of roughly $9.72 billion despite sitting 91.5% below its all-time high of $3.09.

The network currently supports only $13.93 million in total value locked and a mere $47.62 million in stablecoins. DefiLlama data shows the chain generated just $1,639 in fees over a recent 24-hour period.

Cardano Ecosystem Key Metrics (Source: DeFiLlama)These figures highlight a stark gap between Cardano’s token valuation and the actual economic activity on its decentralized applications.

Because of this deficit, Midnight is not being pitched simply as an adjacent project. It is effectively an attempt to import institutional flows that Cardano has failed to build at scale internally.

Cardano founder Charles Hoskinson said in a March 23 video:

“Launching cryptocurrency is kind of like landing the space shuttle. It comes down at 30,000 miles an hour and somehow lands on a runway like a plane does and no one dies, which is truly extraordinary when you really think about it, but they make it look like it’s pedestrian.”

Unlike classic privacy coins that prioritize anonymous money movement, Midnight is designed to sell privacy for data and execution. It uses zero-knowledge proofs, specifically Plonk and Halo 2, alongside multi-party computation and trusted execution environments.

This architecture allows users to prove compliance with regulations without exposing underlying proprietary data. It is a direct response to global financial regulatory bodies' tightened anti-money-laundering package, which strictly bars crypto-asset service providers from supporting accounts that utilize anonymity-enhancing coins to obfuscate transactions.

Essentially, Midnight is reframing privacy from a regulatory liability into a programmable, institutional-grade product.

How ADA gains from Midnight's rolloutThe internal mechanics of the new privacy network dictate that direct usage demand does not cleanly route back into ADA.

Midnight operates on a dual-token model, utilizing NIGHT as the public governance asset and DUST as a shielded, non-transferable resource used to pay for transaction fees and smart-contract execution.

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Because DUST cannot be traded or sent between wallets and decays if unused, the network's economic gravity sits firmly within the Midnight stack.

As a result, the market is already pricing in this separation. NIGHT recently traded at $0.04816, giving it a market capitalization of $799.9 million with 24-hour trading volumes exceeding $1.01 billion. CryptoSlate's data shows NIGHT up 17.5% over a 30-day window, significantly outperforming ADA, which fell 4% over the same period.

This means that traders are clearly utilizing NIGHT as the direct instrument to bet on the compliant-privacy thesis, rather than buying ADA and waiting for indirect, second-order liquidity effects.

However, Hoskinson had previously argued that the privacy chain could lift Cardano’s monthly active users and total value locked in its DeFi ecosystem by expanding its utility.

According to him:

“Adding Midnight to Cardano supercharges our DeFi ecosystem and will 10x the MAUs, Transactions, and TVL as we are first to market with private DeFi at scale.”

He also said it could take six to 12 months to gradually open the full set of capabilities Midnight is meant to support. Later phases are expected to include governance experiments and an incentivized testnet for stake pool operators.

For ADA holders, that might be good news, as recent Cardano infrastructure upgrades have established credible rails for external capital to enter.

In February, Cardano integrated LayerZero, connecting the blockchain to more than 160 other networks and roughly $80 billion in omnichain assets. Shortly after, a native version of Circle’s USDCx stablecoin went live on the Cardano mainnet, utilizing the Cross-Chain Transfer Protocol.

Furthermore, the blockchain network developers are actively working on native Bitcoin staking on public testnets.

All of this development, alongside Midnight's launch, gives Cardano its clearest growth experiment in years.

The blockchain gets a fresh product line, a recognizable group of launch partners, and a narrative that fits better with current compliance pressures than many earlier crypto privacy projects did.

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TL;DR:

LBank launched a four-phase campaign alongside Web3 IP Ponke, reaching 10 million total impressions and more than 200,000 participants. The event series distributed a 40,000 USDT prize pool and drove a 25% increase in the platform’s daily active users. During the campaign, 24-hour spot trading volume reached $1.9 billion while futures volume climbed to $6.8 billion. LBank and Ponke launched a four-phase campaign that accumulated 10 million total impressions and attracted more than 200,000 participants. The initiative runs until April 11, 2026, and includes incentives for new users, referral rewards, trading challenges, social interaction and interactive entertainment, with a prize pool of 40,000 USDT.

Ponke, recognized for its “degen monkey” identity and strong community resonance, was integrated into the campaign’s narrative design. The goal was to go beyond traditional incentive structures and build a participation model oriented around experience, where the IP’s cultural elements serve as the axis of the user journey within the platform.

LBank Uses Culture as a Growth Engine The campaign results point to a considerable impact on platform activity. According to CoinGecko data, 24-hour spot trading volume reached $1.9 billion, while futures volume climbed to $6.8 billion. Net capital flows and daily active users recorded solid growth, with an approximately 25% increase in DAUs. Social media visibility also rose notably.

Eric He, Community Angel Officer and Risk Control Advisor at LBank, described the collaboration as “an important exploration of a culture-driven growth strategy,” and emphasized that the goal is to integrate trading activities, interactive experiences and cultural expression to deliver a stronger value proposition to its users.

LBank had previously developed similar initiatives through its sponsorship of the Argentina national football team and anniversary activities alongside Yeti. The systematic incorporation of IPs and cultural assets aims to expand the exchange’s ecosystem beyond its transactional function.

LBank joins an increasingly prominent trend in the industry: exchanges are migrating away from the role of mere trading platforms toward spaces that integrate finance, culture and community interaction. Platforms capable of building cultural narratives and collective consensus are better positioned to consolidate a key competitive advantage in the sector’s next stage of development.

The War Opportunity ThesisLee argues that markets bottom early into conflicts despite short-term uncertainty. 

His research shows that across the last eight major war events, markets consistently bottomed very early into the conflict, creating buying opportunities for investors who can see past the immediate crisis.

“As much as the war is creating obviously a huge short-term setback and a lot of uncertainty, including effects on monetary policy, ultimately wars are going to be good for the U.S. economy and the U.S. stock market,” Lee said.

Lee’s timing reflects his conviction that investors fixate on crisis elements while missing emerging opportunities. 

When things look their worst, markets often do the opposite of what everyone expects. 

He predicts that by year-end, the market will shift from crisis thinking to opportunity thinking as the economic benefits of wartime spending become clear.

The MAVAN LaunchMAVAN, formally named Made in America Validator Network, was built to support Bitmine’s staking operations. 

The company now plans to offer the service to institutional investors, custodians, and exchanges seeking U.S.-based infrastructure for domestic validation alongside globally distributed architecture for international clients.

“Because Bitmine is the largest owner of Ethereum in the world, shortly after launch, MAVAN will be the largest Ethereum staking platform in the world,” Lee said. 

The platform will expand across additional proof-of-stake networks and critical blockchain infrastructure through 2026, growing efforts in onchain vaults and post-quantum client development.

The $6.8 Billion BetBitmine held 3,142,643 staked ETH as of March 24, valued at around $6.8 billion at $2,148 per ETH. 

The company staked 101,776 ETH worth $219 million to MAVAN in the past week and plans to stake nearly all remaining unstaked ETH on the platform in the coming weeks.

Once the treasury migrates fully, Bitmine projects annual staking rewards of nearly $300 million based on a 2.83% seven-day yield. 

The company reported total ETH holdings of 4,660,903 tokens as of March 22, representing 3.86% of total ETH supply. Staked ETH represents approximately 67% of that total.

Ethereum climbed 1.5% over the past 24 hours to $2,183 but remains down more than 55% from its August 2025 record high around $4,900.

BMNR Tests $20 SupportBitmine is up 3% today, barely holding the $20-$21 horizontal support zone that has acted as a floor in recent weeks. 

Price sits below all EMAs except the 20 EMA at $21.22, with the 50 at $23.39, 100 at $27.52, and 200 at $29.03 all sloping downward.

A break below $20 opens the door to $16 and potentially lower. 

For any bullish case, price must reclaim $23.39 (50 EMA) with conviction. Until then, any bounce is likely just a dead cat within the broader downtrend.

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Bitcoin (BTC) price struggled to break above $72,000, as several key onchain metrics highlighted weakening demand for BTC, casting doubts on its upside potential.

Key takeaways:

Bitcoin investors shift to distribution as whales and smaller cohorts aggressively sell under weak market conditions.

Bitcoin whale transaction count hits multi-year lows, as smart money waits for policy and geopolitical clarity.

Bitcoin’s hash rate fell sharply amid rising energy costs, increasing chances of miner capitulation.

Bitcoin investors “shift to distribution”Bitcoin investors have are increasingly risk-off, distributing their BTC holdings amid the recent price weakness fueled by the US and Israel-Iran war and other macroeconomic headwinds.

Glassnode’s Accumulation Trend Score (ATS) is near zero (light yellow), indicating that the whales are distributing their BTC holdings or not accumulating. 

The drop in the trend score indicates a transition from accumulation to distribution across almost all cohorts. This shift mirrors a similar pattern observed in early 2025, which aligned with Bitcoin’s drop to $74,500 in April 2025. 

Bitcoin accumulation trend score. Source: GlassnodeAdditional data from Glassnode shows a “shift toward distribution or inactivity” among small to mid-sized entities holding less than 1,000 BTC.

This is in contrast to “Q4 2024, where broad cohort accumulation preceded a sustained rally,” the onchain data provider said in a Tuesday post on X, adding:

“Heavy participation across wallet sizes remains a precondition for any durable recovery.”Bitcoin accumulation trend score by cohort. Source: X/GlassnodeBitcoin whale activity “historically quiet”Reflecting this distribution or inactive accumulation trend is Bitcoin’s whale activity, which has become “historically quiet,” according to Santiment.

Last week, daily BTC transactions above $100,000 fell to just 6,417, the lowest since September 2023. Meanwhile, transfers exceeding $1 million dropped to 1,485, levels last seen in October 2024. 

The declining whale activity is largely due to market participants waiting for “clarity from the CLARITY Act,” as well as a long-term solution to the war, according to the data analytics company.

This indicates that “smart money is reluctant to make moves with so much policy and global uncertainty at play,” Santiment added.

Bitcoin whale activity. Source: X/SantimentDeclining Bitcoin network activityBitcoin’s inability to sustain the recovery is further evidenced by low network activity and less onchain demand. 

CryptoQuant’s Bitcoin network activity index, which tracks key indicators such as daily active addresses, total transactions count, and UTXO count, has been declining since August 2025.

This points to “weaker demand across the network,” CryptoQuant analyst Maartunn said in a recent post on X.

Bitcoin network activity index. Source: CryptoQuantThis aligns with weak onchain fundamentals such as liquidity and network growth as tracked by Bitcoin Vector’s fundamental index.

This metric “keeps trending lower and remains well below the strengthening zone,” Bitcoin Vector said in a Tuesday X post. 

The onchain data provider described the current market conditions as “stability without support,” rather than a healthy consolidation, adding:

“As long as onchain conditions stay weak, upside looks increasingly dependent on flow, short covering, or external catalysts, not organic strength. If fundamentals don’t recover, this kind of divergence usually doesn’t support a sustained mid-term recovery.”Bitcoin fundamental index. Source: X/Bitcoin VectorBitcoin mining hash rate drops 22%Bitcoin’s hash rate, a metric that shows the level of mining activity, has dropped sharply over the last couple of weeks, meaning miners are shutting down machines.

The hash rate has fallen to 813 EH/s on Wednesday, from 1.2 ZH/s on March 5, representing a 22% decrease.

Bitcoin hash rate. Source: CryptoQuantRising energy costs, exacerbated by the US and Israel-Iran war, compressed the hash price below $34 per PH/s/day, which is below many miners’ breakeven levels. 

“Bitcoin miners are losing $19,000 on every coin they produce, and difficulty just dropped 7.8% as the miner exodus accelerates,” analysts at Token Metrics said in a recent post on X, adding:

“If difficulty drops another 5%+ within the next 7 days, miner capitulation is accelerating and spot sell pressure will intensify.”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.