Market Signal Briefing

Bitmine Immersion Technologies has increased its Ether holdings again as chairman Tom Lee said the token’s recent weakness may be nearing an end. The company disclosed a fresh purchase of 65,341 ETH worth about $139 million, lifting its total holdings to more than 4.6 million Ether.

Summary

Bitmine bought 65,341 ETH, lifting total holdings above 4.6 million tokens this week. Tom Lee said Ether’s mini-crypto winter may be nearing its final stage now. Bitmine is nearing its goal of owning 5% of Ether’s circulating supply. Bitmine said it has raised its buying pace over the past three weeks. Lee said the company’s base case is that Ether is in the final stages of a “mini-crypto winter” after several months of pressure across digital asset markets.

The latest purchase added 65,341 ETH to the company’s balance sheet. That brought Bitmine’s holdings to about 4.661 million Ether as of March 23, according to the company’s update.

Lee also pointed to policy and market signals that he said support a better outlook for crypto. In the company statement, he linked that view to progress on the CLARITY Act and to the way Ether and other digital assets have held up during recent geopolitical stress.

Company moves closer to 5% Ether supply target Bitmine’s total Ether position now equals about 3.86% of the circulating supply, based on Ethereum’s circulating supply of about 120.69 million tokens. The company has said it wants to accumulate 5% of the circulating supply over time.

To reach that goal at the current supply level, Bitmine would still need roughly 1.37 million more ETH. At prices near $2,156, that would require close to $3 billion in additional purchases.

Ether’s supply is not fixed. The total can rise or fall depending on issuance and token burning, so the amount needed to reach 5% can change over time.

Staking remains part of the strategy Bitmine said more than 3 million of its Ether is now staked. That means the company is not only building a treasury position but also using the assets within Ethereum’s proof-of-stake system.

The company also reported other holdings on its balance sheet. These include about $1.1 billion in cash, 196 Bitcoin, a $200 million stake in Beast Industries, and a $95 million stake in Eightco Holdings.

Moreover, Bitmine is now one of the largest corporate Ether holders in the market. Strategic ETH Reserve data cited in public reports shows Bitmine ahead of other treasury firms, with SharpLink Gaming and Ether Machine trailing by a wide margin.

The company’s latest move also reflects a wider trend that grew across 2025 as more firms shifted capital into crypto treasury strategies. 

Apex will tokenize the Omnes Mining Note “OMN,” an institutional-grade structured note backed by Bitcoin hashrate. Mar 24, 2026, 9:57 a.m.

Apex Group, the fund services giant with over $3.5 trillion in assets under administrative care, extended its tokenization range with a structured product offering institutions exposure to bitcoin BTC$70,957.35 mining, to be issued and managed on U.S. exchange Coinbase’s Ethereum overlay platform, Base.

Since buying real-world asset (RWA) specialist Tokeny last May, Apex has been steamrolling into the tokenization industry, and on Tuesday said it will tokenize the Omnes Mining Note, OMN, an institutional-grade structured note backed by bitcoin hashrate.

The OMN provides professional non-U.S. investors with direct economic exposure to new bitcoin production measured in hashrate, which is the computational power used to validate transactions and produce the largest cryptocurrency, without the operational complexities of managing mining infrastructure, hardware, energy or regulatory hurdles, according to a release.

Each OMN is backed by a fixed 1 petahash per second (1 PH/s) of Bitcoin hashrate for the duration of the 36-month tenor. Ownership is recorded in book-entry form and mirrored onchain under the ERC-3643 standard, according to the Omnes website. ERC-3643 is an Ethereum-based protocol for tokenizing RWAs developed by Tokeny.

“Tokenization gives investors mobility and utility that traditional notes cannot,” said Peter Hughes, founder and CEO of Apex Group, in the statement. “Qualified investors can transfer OMN onchain and, over time, potentially use it as a form of collateral in permissioned lending without selling the asset. This enhances liquidity while giving Omnes a more scalable and globally distributable structure.”

Apex said last week that its partnership on the Coinbase Bitcoin Yield Fund, which it handles as a transfer agent and record keeper of the funds net asset value, would be available to investors on the Base network.

“Bringing a regulated debt product backed by mining onto Base is a huge win. It proves that onchain finance isn't just for crypto-native assets - it's for real-world industrial infrastructure too,” said Jesse Pollak, head of Base.

“Bitcoin mining is the only mechanism that creates new Bitcoin through protocol issuance. This is economically distinct from yield strategies that rely on redistributing existing Bitcoin,” said Emmanuel Montero, Omnes' CEO.

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BlackRock is betting billions that tokenized funds will do for Wall Street what the internet did to mail

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In his annual letter, BlackRock CEO Larry Fink argues that digital wallets and tokenized assets could modernize markets and expand investor access.

What to know:

BlackRock chief Larry Fink used his annual shareholder letter to argue that tokenization and digital assets could modernize the financial system while warning that U.S. capitalism is failing too many workers.Fink said recording asset ownership on digital ledgers and using regulated digital wallets could make issuing, trading and accessing investments faster, cheaper and more widely available.He framed tokenization as part of a broader effort to address inequality and strained public finances, noting BlackRock’s growing digital-asset business and calling for clear rules on investor protections, counterparty risk and digital identity.

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5 minutes ago

BNB price is trading at $634, posting more than 2% gain over the last 24 hours as prediction and momentum shift back to the buy side. The asset has recovered from its previous close, supported by trading volume of $1.6 billion.

This surge in participation suggests institutional rotation is active as the token has stabilized since last year. The market is asking one question: Is this a dead-cat bounce or the start of a run to the $728 monthly target?

The technical posture remains cautiously optimistic. While the crypto market displays volatility, BNB’s ability to hold above $620 indicates structural strength. We are now watching the immediate ceiling at $650. A clean break here validates the bullish thesis, while a rejection could see a retest of the $590 support bound.

Can Binance Coin Maintain Momentum Above $635? Here’s Our BNB Price PredictionCurrent price action places BNB USD in a neutral-to-bullish zone. The Relative Strength Index (RSI) reads 50 on the daily, a level that leaves ample room for upside without triggering overbought alarms.

The immediate battleground is the 50-day moving average at $645, with BNB currently trading just below this pivot point. If bulls can reclaim this level on closing volume, the path opens toward the upper Bollinger Band at $678. Breaking this resistance is essential to unlocking the monthly forecast of $730, which represents a 13% potential upside. Conversely, failure here could see the price slip back toward the $590 lower band support.

BNB USD, TradingViewHistorical data reinforces the importance of the $648 resistance level. In previous cycles, volume confirmation above this price point has often preceded double-digit percentage rallies. We should monitor the volume metric; sustaining this liquidity is vital for breaking the psychological sell walls established earlier this quarter.

Discover: The best crypto to diversify your portfolio with

LiquidChain Targets Early Mover Upside as BNB StabilizesWhile BNB offers established stability with a forecasted 13% monthly upside, capital often rotates into infrastructure plays offering higher beta returns during recovery phases. The logic is simple: while large-cap assets like BNB battle heavy resistance at $650, emerging protocols solving fragmentation issues can capture aggressive speculation before price discovery matures.

This dynamic is drawing attention to LiquidChain ($LIQUID), a Layer 3 infrastructure project currently in its presale phase. Unlike standard Layer 2s, LiquidChain fuses Bitcoin, Ethereum, and Solana liquidity into a unified execution environment. The project has raised more than $600K to date, pricing its native token at $0.0143 with more than 1700% APY rewards.

The project’s premise addresses the liquidity fracture slowing down DeFi adoption. By acting as a Cross-Chain Liquidity Layer, it attempts to merge the security of BTC with the speed of SOL and the ecosystem of ETH.

Those interested in the protocol’s approach to verifiable settlement can research the LiquidChain presale here.

Disclaimer: Cryptocurrencies are high-risk assets. This article is for informational purposes and does not constitute financial advice. Invest only what you can afford to lose.

Over $44 million in short positions were wiped out on Binance in a single hour Monday — the largest one-hour short liquidation since February 6 — yet the price surge it helped trigger drew little enthusiasm from actual buyers.

Futures Chaos, Not Fresh Money, Lifted BTC Bitcoin climbed to a weekly high of $71,801 on Binance during the US market session, pushed higher largely by forced closures of short positions rather than new capital entering the market.

Aggregated open interest across Bitcoin futures fell by roughly 9,700 BTC — a 3.5% drop — over 13 hours while prices rose. When open interest falls during a rally, it typically means traders are exiting positions, not adding them. That’s not the signature of a confident bull run.

The Coinbase premium, which tracks whether US buyers are paying above or below the global average price, stayed negative throughout the move. Reports indicate limited spot demand from US participants during the entire rally window.

Binance Volumes Sink To Bear Market Levels The broader picture looks just as thin. According to crypto analyst Darkfost, March is on pace to record the lowest Binance spot volume since the third quarter of 2023 — around $52 billion, compared to $88 billion that September.

That September figure itself came during a period widely characterized as a bear market. Exchange flow data tells a similar story: seven-day cumulative flows on Binance hit their lowest point since 2024, based on data reported by analyst Arab Chain.

Bitcoin spot trading volume. Source: CryptoQuant Coinbase flows held relatively steady by comparison, suggesting longer-term holders are maintaining activity while shorter-term traders pull back.

The trigger for Monday’s price action was a news report that US President Donald Trump had paused plans for military strikes on Iran’s energy infrastructure, citing diplomatic progress. Iran’s foreign ministry quickly denied that any such talks had taken place. BTC still rallied on the headline.

BTCUSD now trading at $71,046. Chart: TradingView Whale Activity Flashes An Unusual Signal One data point stands apart from the rest. A market analyst identified a record spike in what’s called whale inflow momentum — a measure of how fast large amounts of Bitcoin are being moved onto exchanges.

The current reading of 74 is higher than any point in the past 11 years. The last time it exceeded this level was in 2015, when it hit 124.

High whale inflows don’t automatically signal selling. But reports note the elevated pace points to aggressive capital rotation and hedging among large holders, which could make Bitcoin’s price more sensitive to short-term swings in the weeks ahead.

For now, the rally stalled around the $71,000 to $72,000 range, with no clear indication that the demand needed to push meaningfully beyond it has arrived.

Featured image from zoranm/Men’s Health, chart from TradingView

Bitcoin (BTC) is trading at $71,063, up 0.23%, inside an ascending channel on the 12-hour chart as a large whale short position faces liquidation.

A $46 million short bet opened on Hyperliquid carries a liquidation level of $71,712. If BTC reaches that level, the forced closure would inject additional buying pressure into an already recovering market. The question is whether the on-chain setup supports that move.

Whales, i.e., the addresses holding more than 1,000 BTC, show a consistent pattern since July 2025: every time the whale address count increased sharply, Bitcoin price corrected meaningfully in the weeks that followed.

The first instance came in November 2025, when the count rose from approximately 1.960 to 1,986. Bitcoin subsequently fell. The second occurred in mid-January 2026, when the count again approached 2,010.

Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.

Bitcoin Whale Address. Source: GlassnodeCome March end, the same cohort is noting a rise in the address count for the first time since mid-February. The pattern has repeated with enough consistency that a further increase in whale address count would represent a clear warning signal for a third correction.

Old Bitcoins Are Moving AgainThe Coin Days Destroyed (CDD) reading on March 24 shows a spike of approximately 27 million, one of the highest readings since the February deleveraging period. This means BTC that have been stationary for an extended period are moving today.

High CDD can carry two interpretations. If old coins are moving to sell, it represents distribution from long-term holders into the rally — a potential headwind. If those coins are moving into custody or consolidating wallets without hitting exchanges, it is neutral to bullish.

Bitcoin CDD. Source: GlassnodeBut if a surge of old coins reaches exchanges today, it would add selling pressure on Bitcoin’s price, which might pull BTC back below $70,000.

BTC Price May Drop After LiquidationThe 12-hour chart shows BTC consolidating inside an ascending channel. The lower trendline support sits at $68,865, and the upper resistance runs near $75,851. Price is currently at $71,063, roughly midway through the channel.

That level is also where two prior distribution zones formed in February, making it a significant test.

The bearish case rests entirely on $68,865. Bitcoin is forming an ascending wedge, which projects a -16.07% measured move annotated on the chart, targeting $57,497. Two prior breakdowns from similar setups produced identical percentage declines, making that target structurally derived rather than arbitrary.

Bitcoin Price Analysis. Source: TradingViewOn the other hand, a short position at $72,400 creates an additional magnet in this range. As per Lookonchain, a Bitcoin Gambler opened a short position worth $46 million with 40x leverage. If price breaches $71,712, the forced liquidation could accelerate the BTC price move toward $74,000 in a short squeeze.

ADA is down by over 7% weekly, but history suggests more gains could be on their way.

TLDR: Bitcoin UTXOs held over six months remain stable, unlike previous bear market cycles. Long-term holders maintain positions, reducing traditional supply-driven price corrections. Spot Bitcoin ETFs increase institutional accumulation, stabilizing the market during dips. Upcoming bank-issued ETFs may further alter Bitcoin’s market structure and supply dynamics. Bitcoin UTXO Age Bands data for 2025–2026 shows a different trend from previous cycles. Unlike the 2018 and 2021 bear markets, the share of UTXOs held longer than six months has not decreased.

Instead, long-term holdings are stable or slightly increasing, indicating that capital with no intention to sell is entering the market. This pattern points to a structural shift in Bitcoin market behavior.

Long-Term Holding Behavior Remains Strong Current on-chain data shows long-term holders are not selling during price pullbacks. Historically, extended downturns triggered significant distribution from UTXOs older than six months.

The present cycle, however, reflects stability in long-term holdings. This indicates that traditional supply-driven corrections are not occurring as before.

As Cryptoquant analyst ScenarioX noted, “the classic distribution mechanism is not firing the way it used to.” The post highlights that long-term holders maintain or even grow their share of Bitcoin supply despite dips. Such consistency suggests a market environment different from historical bear markets.

The persistence of long-term holdings may reduce the amplitude of downward price pressure. With less forced selling, price corrections are absorbed rather than amplified. This behavior contrasts with previous cycles where declining UTXO cohorts indicated sell-offs.

Data suggests a structural change in Bitcoin ownership. Retail-driven selling is no longer the primary determinant of price movement. Instead, stable long-term holdings provide a buffer that supports the market even during moderate pullbacks.

Institutional Participation Shapes Market Dynamics The approval of spot Bitcoin ETFs in January 2024 introduced a new class of holders with long-term perspectives. ETF issuers store acquired BTC in cold custody, separating these holdings from price-sensitive market activity.

Their selling triggers differ from retail investors, reducing the likelihood of rapid distribution during short-term dips.

ScenarioX highlighted that “ETF inflows continue each month” and price declines are being absorbed by demand creation. Institutional accumulation, therefore, acts as a stabilizing factor in the market. Cold storage holdings remain largely unaffected by daily volatility.

Upcoming institutional developments may further strengthen this effect. Reports indicate that Morgan Stanley plans to launch a bank-issued Bitcoin ETF with three times the capacity of BlackRock’s IBIT. Such products could add more stable capital into the market.

While macro shocks or large-scale ETF redemptions remain potential risks, current trends suggest the market is transitioning.

Bitcoin is not following the traditional bear market pattern. Instead, long-term UTXO stability and ongoing institutional inflows indicate a structurally different market cycle.

In this market phase, the Cardano price is caught between a fading higher timeframe downtrend and short-term speculative buying pressure around key technical levels.

ADA/USDT — daily chart with candlesticks, EMA20/EMA50 and volume. Summary

Cardano price: where ADAUSDT stands nowDaily timeframe (D1): structure still bearish, pressure easingTrend and EMAs (20 / 50 / 200)RSI (14)MACDBollinger BandsATR (14)Daily Pivot Levels1-hour timeframe (H1): short-term momentum pushing into resistanceTrend and EMAs (20 / 50 / 200)RSI (14)MACDBollinger BandsATR (14) & Pivot15-minute timeframe (M15): stretched short-term longsTrend and EMAsRSI (14)MACD & Bollinger BandsBroader market and sentiment backdropMain bias: structurally bearish, tactically balancedScenarios for Cardano price (ADAUSDT)Bulish scenario: corrective rally toward upper bandBearish scenario: resumption of the downtrend within the rangePositioning, risk, and what matters next Cardano price: where ADAUSDT stands now Cardano is trading around $0.27 against USDT, sitting right on top of its daily 20-day EMA and just below the 50-day EMA, in a broader downtrend defined by a much higher 200-day EMA at $0.43. The higher timeframe message is clear: this is still a bearish market that is trying to stabilize rather than a confirmed trend reversal.

What makes this moment interesting is the clash between timeframes. The daily chart shows a tired downtrend with signs of mean reversion, while the intraday picture (1H and 15m) has shifted into short-term momentum buying. However, longer-term structure is still bearish, while short-term traders are leaning bullish and pressing into resistance.

Given the daily bearish regime and the distance from the 200-day EMA, the main scenario is still bearish, but with increasing risk of a corrective bounce or extended range rather than a fresh collapse.

Daily timeframe (D1): structure still bearish, pressure easing Trend and EMAs (20 / 50 / 200) Data: price $0.27, EMA20 ≈ $0.27, EMA50 ≈ $0.28, EMA200 ≈ $0.43, regime: bearish.

Price has climbed back to the 20-day EMA and is still trading below the 50-day and far below the 200-day. That setup is textbook bearish structure: rallies are still, by default, counter-trend. The fact that price is hugging the 20-day EMA shows sellers are losing immediate control, but they have not actually been displaced; ADA is merely testing the lower boundary of its old value area, not breaking out into a fresh uptrend.

RSI (14) Data: RSI14 ≈ 48.3 on the daily chart.

Daily momentum is neutral, slightly below the midline. That usually aligns with a market in balance after a down leg: selling pressure has cooled, but buyers have not taken over. In practical terms, ADA is in a wait-and-see zone where the next push, either above the 50-day EMA or back under the Bollinger mid, will likely define the next short swing.

MACD Data: MACD line ≈ 0, signal ≈ 0, histogram ≈ 0.

MACD is essentially flat, which fits the idea of a fading trend. There is no clear bullish or bearish momentum signal on the daily: the prior downtrend has run out of steam, but a new uptrend has not started. This flattening is often what you see before either a volatility contraction and range, or a base-building phase that can later break.

Bollinger Bands Data: mid ≈ $0.26, upper ≈ $0.29, lower ≈ $0.24.

ADA is trading just above the middle band and well inside the envelope. That tells us two things: first, price has moved off the lower band, so the heaviest selling has relented; second, it is not yet pressing the upper band, so buyers are not in full control. The daily bands frame a working range roughly between $0.24 and $0.29. Until one of those edges is taken out, the dominant play is mean reversion within that corridor rather than trend extension.

ATR (14) Data: ATR14 ≈ $0.01 on the daily chart.

Daily volatility is modest: a typical daily swing is around one cent. That is relatively contained for ADA at this price level and signals compression after recent moves. When ATR contracts in a bearish regime, it often precedes a larger directional move; the issue is that direction is not yet obvious from volatility alone.

Daily Pivot Levels Data: Pivot point (PP) ≈ $0.26, R1 ≈ $0.27, S1 ≈ $0.26.

Price is currently trading right at R1 and slightly above the pivot. That means the market has already pushed through the day’s average value area on the upside, but it is now running into its first overhead intraday resistance band. In plain language, the easy part of today’s bounce may be behind us, and further upside from here likely requires fresh buying, not just short-covering.

1-hour timeframe (H1): short-term momentum pushing into resistance Trend and EMAs (20 / 50 / 200) Data: price $0.27, EMA20 ≈ $0.26, EMA50 ≈ $0.26, EMA200 ≈ $0.26, regime: neutral.

On the hourly chart, ADA is trading above all three main EMAs, which are clustered close together around $0.26. That clustering followed by price lifting above it is typical of a short-term momentum burst out of a consolidation. The neutral regime tag is fair: structurally the trend is not well established, but over the last several hours buyers have had the upper hand.

RSI (14) Data: RSI14 ≈ 68.0 on H1.

Hourly RSI is flirting with overbought. That does not mean price must reverse here, but it does tell you the immediate move has been fast relative to recent history. From a risk-reward standpoint, chasing fresh longs on this timeframe is starting to become late unless you expect continuation into the top of the daily Bollinger range around $0.29.

MACD Data: MACD line ≈ 0, signal ≈ 0, histogram ≈ 0.

Despite the stronger RSI, MACD on H1 is effectively flat, mirroring the daily. Momentum has picked up just enough to move oscillators, but not enough to carve out a clean bullish MACD leg. It is a subtle sign that the move may be more about short-term positioning and liquidity pockets than a deep shift in trend.

Bollinger Bands Data: mid ≈ $0.26, upper ≈ $0.27, lower ≈ $0.26.

Price is near the upper hourly band around $0.27, with the bands relatively tight. That is what an intraday push into resistance looks like: buyers have worked price up to the top of a narrow volatility channel. Either we see a brief squeeze above followed by a fade back into the band, or we get a clean expansion with bands widening and price riding the upper side. At the moment, the setup leans more like a short-term extension rather than a powerful breakout.

ATR (14) & Pivot Data: ATR14 ≈ $0.00 (very low), pivot ≈ $0.27 with R1/S1 ≈ $0.27.

Measured hourly volatility is extremely compressed, and price is clustering around the pivot and intraday resistance band. That combination usually means one of two things: either the market is about to get a fast expansion move as liquidity returns, or price continues to grind in a tight range, frustrating both sides. For now, traders are leaning lightly bullish inside a low-energy environment.

15-minute timeframe (M15): stretched short-term longs Trend and EMAs Data: price $0.27, EMA20 ≈ $0.26, EMA50 ≈ $0.26, EMA200 ≈ $0.26, regime: bullish.

On the 15-minute chart, price is clearly above the EMA cluster, and the regime is marked bullish. That is what you expect after an intraday push higher. From an execution standpoint, these are the conditions where late longs often get trapped if the move stalls at higher timeframe resistance, so the location relative to daily levels matters more than the local trend label.

RSI (14) Data: RSI14 ≈ 69.3 on M15.

Short-term RSI is brushing against overbought. This aligns with the 1H picture: the immediate bounce has been sharp enough that adding new exposure on this micro timeframe carries poor asymmetry unless you are specifically trading for a quick continuation scalp.

MACD & Bollinger Bands Data: MACD ≈ flat at 0; Bollinger mid ≈ $0.26, upper ≈ $0.27, lower ≈ $0.26.

Once again, MACD is not confirming a strong impulse, and price sits near the upper band in a tight volatility envelope. This is consistent with intraday FOMO grinding into resistance more than a genuine breakout phase.

Broader market and sentiment backdrop The wider crypto market cap is up about 3.2% over 24h, with BTC dominance around 56.6%. Flows are still heavily skewed toward Bitcoin, which usually limits how far altcoins like ADA can run on their own. At the same time, the crypto Fear & Greed Index is deep in Extreme Fear (11). That mix, risk capital flowing in but sentiment still fearful, often creates good conditions for sharp mean-reversion bounces, but it is not yet the environment of a sustained, risk-on altseason.

On-chain DeFi metrics for Cardano show DEX fee activity up sharply over the last day across several platforms (Minswap, WingRiders, SundaeSwap, Danogo). Moreover, that uptick in protocol usage points to improving network activity, which can underpin medium-term value, but these are still early signals rather than a decisive macro driver.

Main bias: structurally bearish, tactically balanced Putting it all together:

The daily regime is bearish, with price under the 50-day and far below the 200-day EMA. Momentum indicators (RSI, MACD) on D1 are neutral and flattening, consistent with a market pausing after a downtrend rather than reversing strongly. Intraday charts (H1, M15) are short-term bullish, but with RSI stretched and volatility compressed near resistance. Overall, the primary scenario remains bearish on the higher timeframe, but the market is in the corrective or sideways phase of that downtrend. The balance of evidence favors range trading and mean reversion between roughly $0.24 and $0.29 rather than an immediate trend breakdown or explosive rally.

Scenarios for Cardano price (ADAUSDT) Bulish scenario: corrective rally toward upper band In the bullish case, the current intraday strength develops into a broader short-covering rally.

Key elements of this path:

Daily close holds above the 20-day EMA (~$0.27) and defends the pivot region around $0.26 on pullbacks. Hourly RSI cools from 68 toward the mid-50s without a deep price retrace, showing consolidation rather than rejection at current levels. Bollinger Bands on D1 start to slightly expand to the upside, with price pushing toward the upper band around $0.29. If these conditions line up, ADA can reasonably test the $0.29 area, where the upper daily band sits. A stronger extension could see price probing toward the 50-day EMA near $0.28–0.30 and turning that zone into a battle line between bulls and bears.

What invalidates the bullish scenario?

A clear daily close back below $0.26 (the daily pivot and mid-BB) would show that the bounce failed and sellers are regaining control. On intraday charts, a drop back below the EMA cluster around $0.26 on rising ATR would tell you the short-term structure has rolled over. If those signals appear, the idea of a controlled corrective rally toward the upper band loses credibility.

Bearish scenario: resumption of the downtrend within the range In the bearish case, today’s strength proves to be nothing more than a rally into resistance within a still-dominant downtrend.

Key elements of this path:

Price fails to sustain above $0.27 and is pushed back under the daily pivot and mid-BB around $0.26. Hourly and 15m RSI roll over from near-overbought to sub-50 along with price, not just through time-based consolidation. Daily ATR begins to tick higher from ~$0.01 as red candles re-emerge, signaling that volatility is returning in favor of the sellers. Under this scenario, ADA drifts back toward the lower daily Bollinger Band near $0.24. If selling pressure accelerates, that band can be breached, opening room for a deeper leg down. In a higher-volatility flush, moves below $0.24 would not be surprising given the still-bearish 200-day structure.

What invalidates the bearish scenario?

A sequence of daily closes above $0.28–0.29, especially if accompanied by EMAs starting to flatten and curl up. A shift of the daily regime from bearish toward neutral with price holding above the 20- and 50-day EMAs instead of rejecting them. Such a change would indicate that the downtrend is transitioning into a broader base, and that the dominant force is no longer sellers on the higher timeframe.

Positioning, risk, and what matters next Right now, ADA sits at an awkward intersection:

Longer-term traders still see a downtrend anchored by the 200-day EMA up at $0.43. Short-term traders are playing a bounce off the lower half of the Bollinger range, with intraday momentum pushing into resistance. Sentiment is extremely fearful across crypto, but Cardano’s on-chain activity is improving at the margin. For positioning, the key is timeframe discipline:

If you operate on the daily or weekly horizon, ADA is still in a bear phase. Any long exposure here is effectively a counter-trend or range trade, which typically demands tighter risk controls and more modest expectations. If you are trading intraday, the market is already leaning long in the very short term. That means fresh buys at current levels are vulnerable to pullbacks if the daily resistance zone around $0.27–0.29 holds. Volatility is compressed on intraday charts, and daily ATR is low. That combination rarely lasts. The next decisive move is likely to come from a break out of the current range, either toward the upper daily band near $0.29 or back toward the lower band around $0.24. For now, the burden of proof is still on the bulls: the structure is bearish, even if the tape feels better than it did at the recent lows.

In summary, this Cardano price setup reflects a counter-trend phase inside a broader downtrend, with clear range boundaries and mixed signals between higher and lower timeframes.

South Korean listed companies are increasingly embracing a 'Bitcoin (BTC) treasury' playbook—yet a new industry-wide snapshot suggests the blockchain sector itself is sitting on billions in idle capital, exposing a widening gap between headline-grabbing accumulation and disciplined treasury management.

In recent weeks, a growing number of Korea Exchange-listed firms—particularly on the KOSDAQ—have disclosed plans to add Bitcoin (BTC) to corporate reserves. The approach mirrors a model popularized in the U.S. by Strategy, which has positioned BTC holdings as a core balance-sheet asset while using capital markets tools to amplify exposure and, at times, support equity narratives. In Korea, markets have responded quickly: shares of companies announcing BTC treasury allocations have repeatedly spiked in the short term, turning the strategy into a near-formula trade for momentum-focused investors.

But as corporate interest accelerates, the on-chain world is grappling with an uncomfortable contrast. According to analysis circulating in the blockchain industry, the combined treasuries of the top 25 blockchain protocols run into the billions of dollars—yet an estimated 93% of those assets, roughly $5.2 billion, are not generating yield. That translates to more than 7 trillion won in dormant capital, an outcome that would be difficult to justify in traditional corporate finance, where idle cash is typically deployed into short-dated instruments, bonds, or strategic investments under board oversight.

The composition of these protocol treasuries helps explain the structural weakness. Roughly 80% of holdings are denominated in the projects’ own native tokens—effectively the crypto equivalent of stockpiling self-issued equity as if it were cash. By contrast, the average stablecoin allocation—often considered a proxy for true, liquid operating reserves—stands at just 3.6%.

Uniswap is frequently cited as a stark example. While its treasury is estimated at about $1.4 billion, stablecoin reserves are effectively negligible; approximately 99.9% of the treasury is held in Uniswap’s native token, UNI. In a rising market, this structure can appear attractive: token appreciation inflates treasury valuations and makes financial dashboards look stronger. When market conditions turn, however, the same design can quickly become a trap.

During drawdowns, protocols needing operating runway often have little choice but to sell their own tokens. That selling pressure can depress the token price, which in turn reduces the value of the remaining treasury—creating a feedback loop precisely when liquidity is most urgently needed. Industry observers note that these protocol treasuries spend a significant portion of time below prior peak valuations, underscoring how quickly headline figures can erode once market momentum fades.

The common defense has been that on-chain treasury management is difficult—citing limited infrastructure or smart contract risk. That argument is increasingly losing force. 'Institutional-grade' on-chain tooling has matured significantly, from audited lending markets and automated liquidity strategies to more sophisticated risk frameworks emerging across DeFi. The more persistent constraint, critics argue, is governance rather than technology.

Most major protocols rely on token-holder voting for key decisions. While the model aims to democratize control, in practice it can slow decision-making, encourage stalemates, and make 'doing nothing' the safest political choice. The result is a form of collective-action paralysis: large treasuries remain underutilized not because assets cannot be deployed, but because stakeholders cannot agree on how to deploy them without controversy.

The on-chain experience carries an implicit warning for Korean corporates now testing the BTC treasury narrative. Buying Bitcoin (BTC) is one step; running a treasury with a coherent capital plan is another. The distinction matters: 'holding' is a statement, but 'management' is a strategy.

Strategy’s visibility, in this framing, stems not only from owning BTC, but from building a broader financial architecture around that position—using sophisticated capital markets mechanics and balance-sheet structuring to pursue long-term objectives. Simply copying the purchase without an operational treasury framework risks turning a strategic pivot into a trade.

Change, however, is beginning to show within DeFi itself. Protocols such as Aave, Morpho, and Gnosis have been increasingly cited as examples of more active treasury deployment, including efforts to reduce overreliance on native tokens and improve liquidity resilience. The divide between protocols that actively manage reserves and those that merely accumulate is growing—quietly, but quickly.

For markets watching Korea’s next wave of BTC-treasury announcements, the broader lesson from crypto’s own capital-management shortcomings is straightforward: reserves are only the beginning. Sustainable treasury performance depends on governance that can act, risk frameworks that can adapt, and a plan that extends beyond the initial purchase.

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HIP-30 regularly takes up to 40% of total Hyperliquid volumes, serving as an offset for any crypto slowdown. The third-party market expanded its selection of assets, allowing 24/7 access to stock and commodity contracts. 

HIP-3 keeps up the pace as a major contributor to overall open interest and volumes on the Hyperliquid ecosystem. The third-party market now expands on contracts introduced in the past two months. 

The platform carries up to 21% of open interest on Hyperliquid and up to 40% of volumes. The increased activity may be a mass shift from other markets, as Hyperliquid also leads Aster and other perp DEXs in terms of popularity and liquidity.

Hyperliquid also posted over $19B in daily volumes, rising near levels not seen since November 2024. This time around, the traffic on Hyperliquid is more organic and takes into account the new third-party markets. 

Trading perpetual futures for stocks and commodities displaces some of the rush to altcoins and tokens. Commodities are also used to make quick bets, closely related to the news cycle. HIP-3 retains the advantage of weekend trading, allowing for directional bets in the immediate aftermath of events. 

Brent takes over HIP-3 trading The initial hype around oil trading elevated the CL perpetual futures by Trade[.]XYZ, representing West Texas Intermediate. Now, the most active trading has switched to the Brent benchmark, representing the actual Middle East oil grade. 

Brent open interest rose to $286M, while WTI sank to $215M after a series of liquidations and closed positions. Brent volumes rose to $955M, while the WTI futures still retained their higher activity at $1.25B. 

Interest in Brent increased after the energy commodity rallied near a five-year peak, rising above $111. Brent rose from a baseline of around $70 at the end of February, and recently retreated to around $102 per barrel. 

Oil prices had their steepest climb in the past five years, leading to a rush of perpetual futures trading with strong directional bets. | Source: Trading Economics. While the dynamics of oil markets are specialized, crypto traders mostly rely on the strong directional moves based on the news of the closure of the Strait of Hormuz. As a result, HIP-3 now trades more gold, silver, and oil futures compared to crypto assets, betting on a much clearer reaction to news. 

On Hyperliquid, oil traded at the $89 range as of March 24, based on its own oracle data. On-chain trading may differ from traditional markets, leading to a specific set of liquidations and directional trades. 

HIP-3 creates a new trading category The advantage of HIP-3 is that it does not represent a digital asset. The oil is not tokenized or linked to any real commodities or futures. Instead, the market is built on perpetual futures, allowing traders to set their expectations on upcoming moves, with no constraints on time horizon.

HIP-3 oil markets immediately reacted to potential oil shocks, increasing weekly trading to a higher baseline. | Source: Dune Analytics. The oil markets on Hyperliquid are also agile, immediately reacting to the potential of oil shocks. Whales are also taking risky bets by shorting oil during any signs of a downturn, as the markets attempt to return to normal. Some whales were also liquidated on some positions, but managed to realize profits and withdraw from Hyperliquid. 

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Bitcoin has been trapped within the $60,000 to $70,000 zone for several months. While it recently broke above $75,000, escalating geopolitical tensions have hindered a prolonged bull run toward $80,000. A popular analyst now notes that more than 1.72 million coins are stuck in this zone, and if the price breaks out, a big move could be imminent.

Analyst Says 1.72M BTC Stuck in “No-Trade Zone” In a recent X post, popular analyst Ali Charts opined that Bitcoin is sitting in a “no-trade zone.” He noted that this zone lies between $70,685 and $65,636, adding that it is now the “most important spot on the BTC chart at the moment”.

The analyst said that in this price range, more than 1.72 million BTC was transacted. Hence, this is the zone where most buyers will break even and where most sellers will likely emerge if some traders look to take quick profits because of uncertainty.

“We won’t see the next big move until Bitcoin either breaks above $70,685 or falls below $65,636. For now, it’s a waiting game.” Ali said. 

At press time, BTC was attempting a breakout from this zone, trading at $71,058 with a 3.7% intraday gain. The gains coincided with surging short liquidations following President Trump’s announcement that the US and Iran had agreed to de-escalate.

 

Sentiment Remains Low as 5-Year Returns Tank As analysts await a big move in Bitcoin price, the market sentiment has remained notably low, hindering meaningful gains. Data from Google Trends shows that the search volumes for the phrase “how to buy Bitcoin” have dropped to the lowest level since mid-2025. 

Besides the declining sentiment, analysts have now raised concerns about the drop in BTC’s 5-year return. One analyst, dubbed Dividend Rob on X, noted that Bitcoin’s five-year compound return stands at only 2.8%. That means that a trader who bought Bitcoin five years ago and has not sold to date has barely broken even.

However, Rob’s thesis faced criticism, with some members of the community saying that in 2021, BTC was trading at a bull market top. Moreover, the negative sentiment and dwindling returns have not hindered institutions like Strategy from acquiring more Bitcoin, with the firm purchasing 1,031 BTC on March 23, bringing total holdings to 762,099.

XRP (XRP) is trading at $1.40, down 1.71% on the day, as a concentrated supply wall between $1.57 and $1.59 limits the recovery of February’s losses.

Three on-chain metrics now point in the same direction — network overvaluation is rising, transaction activity is fading, and a billion-dollar cost basis cluster sits directly overhead.

XRP Seems Overvalued Right NowThe Network Value to Transactions Ratio (NVT) for XRP has spiked on a 7-day moving average basis as of March 24. That reading is the third time this indicator has reached the 200 level since December 2025.

Each of the prior two spikes to 200+ coincided with price corrections. The December spike near 220 preceded a sharp decline. The January spike to 220 similarly preceded the February low. The current surge to 202 is unfolding as price consolidates around $1.41, well below the $1.54 peak seen on March 16.

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XRP NVT Ratio. Source: GlassnodeA high NVT means the network’s market cap has grown faster than its on-chain transaction volume. In plain terms, the token is being priced above what its actual network usage justifies. For the signal to turn neutral, either price must pull back, or transaction volumes must rise meaningfully.

Volume Collapses as XRP Activity FadesDespite the elevated NVT, on-chain transaction data from Santiment shows a sharp decline in daily activity since the March 15–16 peak. Total daily on-chain volume — combining profit and loss-side transactions — reached above 390 million XRP on March 15. By March 24, that figure had collapsed to approximately 70 million.

The profit-side component on March 24 sits at roughly 54.8 million XRP, with the loss-side at 15.58 million XRP. While the profit-to-loss ratio remains tilted toward profit, the absolute volume is too low to signal genuine accumulation. High on-chain volume with profit-side dominance would be a bullish sign.

The current reading reflects disengagement, not conviction.

XRP Transaction Volume By Profit/Loss. Source: SantimentThis fading activity, combined with the rising NVT, reinforces the picture of a market where price is holding up but network participation is retreating.

XRP Price Faces a BarrierThe daily chart shows XRP sitting between the Fibonacci 0.382 level at $1.33 and the 0.618 level at $1.46. The EMA at $1.42 sits just above the current price and is curling lower, acting as dynamic resistance.

The cost basis distribution heatmap from Glassnode reveals the most critical obstacle. Dense warm-colored supply bands — representing 1 billion XRP — are concentrated between $1.57 and $1.59. These holders acquired their tokens at those prices and are currently sitting at a loss. As the price recovers toward that zone, break-even selling pressure intensifies.

XRP CBD Heatmap. Source: GlassnodeThe 0.786 Fibonacci level at $1.55 aligns directly with the bottom edge of this supply cluster. A daily close above this level, through the EMA, would begin testing that wall. Without high volume to absorb the overhead supply, the recovery is likely to stall there. 

At the same time, the $1.33 Fibonacci 0.382 level is the floor to hold on to any further decline. If this support is broken through, the XRP price could face a drop to $1.25 support.

XRP Price Analysis. Source: TradingViewHowever, if the supply is absorbed, XRP price could secure $1.55 as support and move towards $1.67 resistance, which marks the February high. Reaching it would invalidate the bearish thesis and recover February losses.

The report further mentions that Hostplus serves around 2 million members, having an average age in the mid-to-late 30s. The United States has been proactive in widening the role of crypto in retirement systems.  An Australian industry superannuation fund, Hostplus, is seeking to provide bitcoin and other digital asset investment options, as reported by Bloomberg. 

The superannuation fund is responsible for handing over A$150 billion in assets and is now seeking to add crypto exposure through the self-directed option, Choiceplus. Hostplus permits members to self-manage a portion of their retirement savings, now estimated at 1% of the fund’s overall assets. 

Digital asset offerings on Hostplus could come as early as the upcoming financial year, relying on regulatory approval and internal design work, Chief Investment Officer Sam Sicilia mentioned in an interview with Bloomberg. 

He also added that issues like consumer protections and product structure are still under review. There is surely a demand from some of our members who write in and say, ‘Why can’t I have access to cryptocurrency?’

The report further mentions that Hostplus serves around 2 million members, having an average age in the mid-to-late 30s, according to the report. The official mentioned crypto has matured prominently since the company’s first evaluation of the asset class around a decade ago. 

The Cautious And Proactive Steps  The fund is now re-examining not just Bitcoin but a wider range of digital assets, possibly including tokenized exposures associated with areas like music rights. The pension fund industry from Australia has already shown restricted interest in crypto exposure. 

Two years ago, pension and wealth firm AMP Ltd mentioned it took a careful step into the asset class by having indirect exposure via bitcoin futures. At the same time, the United States has been proactive in widening the role of crypto in retirement systems. 

In August 2025, President Donald Trump signed an official order allowing 401(k) plans to comprise crypto, and Indiana recently passed legislation permitting crypto allocations within certain state retirement plans. However, Hostplus has not revealed more information than this.

Highlighted Crypto News Today: 

Bitcoin (BTC) in a Tug of War: Can Bulls Reclaim Strength, or Will Bears Strike Again?

A passionate journalist with a strong foundation in content writing and an experience in the crypto industry. With a commitment to self-growth, Sharmistha aims to make a meaningful impact in the media and communications landscape.

Aggregated open interest across Hyperliquid's HIP-3 markets rose to a new peak of $1.74 billion on Sunday, surging 25% from $1.39 billion on March 15.

The increase extends the rapid expansion of Hyperliquid's permissionless perpetual futures tied to tokenized traditional assets, which launched roughly six months ago. Sunday's figure marked an all-time high for HIP-3, with open interest slipping to $1.73 billion on Monday.

According to The Block's data dashboard, Trade.xyz — built by Hyperliquid's tokenization arm Hyperunit — continues to dominate the market with $1.58 billion in open interest. This is 91.3% of the total HIP-3 open interest.

On Monday, Trade.xyz reported new all-time highs, with 24-hour volume peaking at $5.6 billion and unique daily traders reaching 45,300. Top-performing pairs on the platform are tied to tokenized traditional assets, led by WTI oil with $1.27 billion in 24-hour volume, followed by Brent oil at $1.04 billion and silver at $1.01 billion.

The strong performance of tokenized real-world assets on the platform is largely driven by Hyperliquid's 24/7 trading capability, which enables ongoing price discovery for commodities and equities beyond traditional market hours.

The trend became especially evident as geopolitical tensions in the Middle East drove volatility in oil prices, pushing traders toward 24/7 platforms for continuous price discovery.

Hyperliquid's native HYPE (HYPE) token has also benefited from the platform's momentum. According to The Block's crypto price page, HYPE is trading at $38.3, up 2.8% in the past 24 hours and 30.6% in the past 30 days.

Meanwhile, Hyperliquid recently announced HIP-4, introducing permissionless prediction market listings, potentially opening up room for further growth of the ecosystem. HIP-4 is currently in the testnet phase.

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

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

Key Highlights Table of Contents

Key HighlightsStrategic Pivot Toward Preferred Equity InstrumentsExpanding Cryptocurrency HoldingsGet 3 Free Stock Ebooks Strategy revealed a $44.1B capital-raising initiative through at-the-market programs to expand Bitcoin holdings The initiative encompasses $21B in MSTR common shares, $21B in STRC preferred shares, and $2.1B in STRK preferred shares MSTR shares gained more than 2%, reaching the $138–$140 range during trading The company acquired 1,031 BTC during the previous week for $76.6M, pushing total holdings to 762,099 BTC Strategy has accumulated approximately 90,000 BTC during the initial three months of 2026 Strategy has revealed a comprehensive $44.1 billion fundraising strategy aimed at continuing its Bitcoin accumulation efforts, propelling the company’s shares upward by more than 2% during Monday’s trading session.

The initiative was formally disclosed through an 8-K regulatory filing submitted to the Securities and Exchange Commission. The filing outlines three distinct at-the-market offerings spanning Strategy’s common equity and two separate preferred stock classes.

The bulk of the capital-raising effort includes a $21 billion ATM offering for MSTR common equity alongside an equivalent $21 billion program for STRC perpetual preferred shares. An additional $2.1 billion allocation targets the company’s STRK preferred stock instrument.

Strategy Inc, MSTR

Strategy refrained from establishing a specific timetable for executing these offerings, indicating merely that share sales could occur “from time to time” based on market conditions.

MSTR equity touched an intraday peak of $140 during Monday’s market hours before settling near the $138 level, based on TradingView market information. Bitcoin simultaneously rallied, surpassing the $70,000 threshold.

Strategic Pivot Toward Preferred Equity Instruments Strategy has increasingly favored preferred stock issuances as its primary funding mechanism for Bitcoin acquisitions, thereby alleviating dilution concerns for MSTR common stockholders. The preferred share structures provide monthly dividend payments to holders while enabling the company to expand its cryptocurrency treasury.

Two weeks prior, Strategy executed sales of 11.8 million STRC shares combined with 2.8 million MSTR common shares, generating proceeds that funded a $1.57 billion Bitcoin acquisition — marking the company’s largest single purchase this year.

For the most recent weekly acquisition, the firm relied exclusively on MSTR common stock. Strategy sold 509,111 shares, netting $76.5 million in proceeds to purchase 1,031 BTC at an average acquisition cost of $74,326 per Bitcoin.

Through its previous $21 billion MSTR ATM program, Strategy had completed approximately $15.9 billion in common stock transactions. The company has additionally executed $20 billion in STRK sales and $4.2 billion in STRC offerings under earlier registered programs.

Expanding Cryptocurrency Holdings Strategy currently maintains a Bitcoin treasury of 762,099 BTC, purchased at an average acquisition price of $75,694 per coin, representing a total investment of $57.69 billion.

The corporation has expanded its holdings by nearly 90,000 BTC since January 2026. Recent acquisitions this month encompass 17,994 BTC purchased on March 9 and 22,337 BTC acquired on March 16, totaling approximately $2.9 billion in deployment.

Bitcoin currently trades more than 44% below its all-time peak of $126,000, established in October 2025. At that market zenith, Strategy’s Bitcoin portfolio commanded a market value exceeding $78 billion.

At present market valuations, the company faces an unrealized deficit of roughly $3.4 billion, according to DropsTab analytics.

Strategy’s consistent Bitcoin accumulation pattern has persisted on a weekly basis since year-end.

In a major blow to decentralized finance, the balancer shutdown follows a $110 million exploit and triggers a sweeping overhaul of the protocol's structure and governance. The corporate entity behind Balancer, once a leading DeFi trading platform, is ceasing operations after a devastating security breach in November 2025 that drained $110 million. Co-founder Fernando Martinelli said the decision stems from mounting legal exposure tied to the exploit and the firm's unsustainable revenue model.

Key Highlights SHIB climbed more than 8% to reach $0.00000615, maintaining position above crucial $0.000006 threshold Geopolitical risk declined after reports suggested Trump postponed Iran strike plans, triggering market-wide relief Token burn activity exploded 637% over 24 hours, eliminating more than 8 million SHIB from supply Spot trading activity surged 67%, while derivatives trading doubled to $194.44 million Regulatory classification as a digital commodity by U.S. authorities decreased compliance concerns Shiba Inu delivered an impressive rally exceeding 8% on March 23, 2026, driving the price to $0.00000615. The meme token maintained its position firmly above the critical $0.000006 threshold during trading hours. Meanwhile, the overall cryptocurrency market expanded 2.57%, bringing total capitalization to $2.42 trillion.

Shiba Inu (SHIB) Price The primary catalyst for this upward movement stemmed from decreased geopolitical concerns. Reports indicated that President Donald Trump delayed potential military operations targeting Iran, creating a five-day diplomatic opportunity. This development lowered immediate conflict probability and sparked positive momentum throughout global financial markets.

Bitcoin climbed approximately 4% in the same timeframe, securing its position above the psychologically important $70,000 mark. Market analysts consider this threshold essential for sustaining bullish momentum across the cryptocurrency sector.

Meme-based tokens demonstrated particularly strong reactions to the improved market atmosphere. The combined market capitalization of meme coins expanded 6% to reach $34.4 billion. Prominent tokens including Dogecoin, Pepe, and Shiba Inu all experienced heightened purchasing interest.

Token Destruction Activity and Circulation Metrics Shiba Inu’s burn mechanism accelerated dramatically, recording a 637% increase in 24-hour activity. According to Shibburn tracking data, more than 8 million SHIB tokens were permanently eliminated from the circulating supply during this window.

Source: Shibburn This heightened destruction rate reinforces the token’s deflationary economic model. Reducing available supply theoretically enhances scarcity perception among token holders and investors.

Spot market activity for SHIB expanded 67%, processing 169.65 billion tokens. Derivatives market participation doubled, climbing 100.32% to approximately $194.44 million in trading volume.

Source: Coinglass Open interest figures rose 10.12% to settle at $45.03 million. This metric indicates that market participants are actively establishing and holding leveraged trading positions.

Chart Analysis and Critical Price Thresholds The MACD histogram transitioned into positive range, indicating developing bullish momentum. Additionally, the Chaikin Money Flow indicator displayed positive values, confirming genuine capital accumulation rather than temporary speculative activity.

Should buyers successfully defend the $0.000006 floor, the next upside objectives emerge at $0.0000065 and $0.0000070. Conversely, inability to maintain current support could trigger a retracement toward $0.0000055.

From a regulatory perspective, United States authorities officially designated Shiba Inu as a digital commodity. This classification eliminates regulatory ambiguity that previously created headwinds for various alternative cryptocurrencies.

Financial technology platform OnePay broadened its cryptocurrency trading offerings to incorporate SHIB, potentially providing access to additional retail investor segments.

Current market data shows SHIB trading at $0.00000611, with open interest recorded at $45.03 million and derivatives volume reaching $194.44 million.

Balancer Labs is preparing to shut down as the team behind the DeFi protocol moves to cut costs after months of financial strain. The plan would leave the protocol running under a leaner structure led by the Balancer Foundation and the DAO while the corporate entity winds down.

Summary

Balancer Labs will shut down as the protocol shifts toward DAO and foundation management. The November hack and falling TVL increased financial pressure across the Balancer ecosystem. Executives want lower costs, zero BAL emissions, and more revenue flowing to the DAO. Balancer co-founder Fernando Martinelli said he had decided to wind down Balancer Labs after reviewing the project’s position. He said the company had become a “liability rather than an asset to the protocol” and linked that decision to legal exposure tied to the November 2025 exploit.

Balancer Labs chief executive Marcus Hardt also said the business was spending too much to attract liquidity compared with the revenue the protocol was generating. He said that approach came with dilution for BAL token holders and could not continue in its current form.

Hack and liquidity drop increased pressure Balancer was one of the better-known DeFi protocols during the 2020 and 2021 market cycle. Its total value locked reached about $3.3 billion in November 2021 before falling sharply over the following years.

The pressure increased after the November 2025 exploit, which reports said totaled more than $100 million. Balancer’s TVL had already dropped to about $800 million by October 2025, then fell by another $500 million in thetwo weeks after the hack. Recent reporting placed the protocol’s TVL near $158 million.

Furthermore, Hardt and Martinelli said they want the Balancer Foundation and the DAO to guide the protocol from here. Their plan calls for a lean continuation model with lower operating costs and fewer people involved in day-to-day work.

Martinelli also backed changes to tokenomics and treasury flow. Those include cutting BAL emissions to zero and adjusting fees so the DAO can keep more of the revenue generated by the protocol. DAO members have been asked to vote on proposals tied to the restructuring and BAL token design.

Protocol revenue remains part of the case Even with the current pressure, Martinelli said Balancer is still producing revenue. He said the protocol brought in more than $1 million over the past three months and described it as a working system weighed down by weak economics and a heavy cost base.

That position now forms the core of the restructuring push. The protocol is expected to continue operating, but under a smaller and less expensive setup built around the DAO and foundation rather than Balancer Labs.

Facing declining TVL and post-hack pressure, Balancer plans to overhaul its model, cut emissions, and reduce costs to stabilize protocol operations.

Balancer Labs, the entity behind the DeFi protocol Balancer, is moving to wind down its current structure after months of financial strain. Its leadership has proposed a scaled-down model to keep the Balancer protocol operational.

CEO Marcus Hardt said two governance proposals have been submitted to overhaul the protocol’s structure, following months of crisis management after the November exploit.

Economic Model Breakdown In a recent post on X, he explained that while Balancer’s core technology, including its v3 upgrade and boosted pools, remains functional, the economic design around the protocol had become unsustainable.

According to Hardt, Balancer was allocating excessive incentives to attract liquidity relative to the revenue generated, which led to dilution of BAL token holders. The proposed changes aim to address this by eliminating BAL emissions, redirecting all protocol fees to the treasury, lowering swap fees retained by the protocol to benefit liquidity providers, and transitioning to a significantly leaner team.

The proposals also include measures to address the impact on veBAL holders, including a buyback and compensation initiative, as the restructuring would remove existing economic rights tied to token locking. The exec added that the goal is to provide participants with an exit or transition path rather than enforce participation under revised terms. While highlighting that the transition would require stricter execution going forward, Hardt also said,

“That does not mean everything is solved or that we should start making promises we have not earned the right to make. We need to execute well on the core first. We need to be more disciplined, more focused, and much clearer about what creates real value and what does not.”

Exploit and TVL Crash The restructuring comes after a long period of decline for Balancer. Once a major DeFi platform during the 2020-2021 cycle, the protocol’s total value locked peaked above $3 billion in November 2021 before falling to $800 million by October 2025, according to data compiled by DeFiLlama.

The November hack further accelerated outflows as it wiped out an additional $500 million in TVL within two weeks. Balancer’s TVL has since dropped below $160 million.

You may also like: FBI Warns of Fake Token Scam on Tron What Happens When You Ignore Slippage? One Trader Just Found Out With a $50M Swap The End of Step Finance: How a Wallet Compromise Killed the Solana DeFi Aggregator Tags:

About the author

Chayanika has been working as a financial journalist for seven years. A graduate in Political Science and Journalism, her interest lies in regulatory implications with a focus on technological evolution in the crypto realm.

Alstom has secured a 380 million euros (437 million dollars) contract to upgrade and refurbish the Skyway automated people mover (APM) system at Houston Intercontinental Airport (IAH) and extend operations and maintenance services for 15 years.New fleet of Innovia APM R vehicles and upgraded station infrastructure to increase capacity and improve the passenger experience.Dedicated 48‑person operations and maintenance team to support reliability amid the airport’s major expansion program. 24 March 2026 – Alstom, global leader in smart and sustainable mobility, has been selected by George Bush Intercontinental Airport (IAH) in Houston, Texas, to replace its existing Skyway automated people mover (APM) system and provide operations and maintenance services for 15 years. The contract includes a new Operations Control Center, upgraded Automatic Train Control and communications systems, 16 new Innovia APM R vehicles, modernised station doors across all terminals and continued operations and maintenance of the system. The total contract value is approximately a 380 million euros1 (437 million dollars).

Enhancing mobility for one of America’s busiest airports

IAH is undergoing multi‑billion‑dollar expansion to accommodate record‑breaking passenger growth, which topped 48 million passengers last year. The renewed Skyway system will reduce service disruptions, improve passenger flow between terminals, and enhance the overall travel experience. Upgraded digital communications and monitoring systems will increase operational reliability, supporting smoother journeys during peak airport demand.
Under the contract, Alstom will:

Construct a new Operations Control Center to improve system supervision and responsivenessUpgrade to Urbalis automatic train control to enhance capacity and safetyInstall enhanced communication systems for improved reliabilityDeploy 16 new Innovia APM R vehicles designed for optimal safety and performanceReplace station doors at all terminals for safer, faster boardingProvide 15 years of operations and maintenance supported by a dedicated 48‑person on‑site team. These upgrades will ensure the Skyway system continues to serve millions of passengers with high availability and comfort. Interim busing will be provided when the Skyway is out of service to minimize customer impact.

“Modernizing Houston’s Skyway system is essential to meeting the needs of one of the fastest‑growing airports in the United States,” said Michael Keroulle, President of Alstom Americas. “This next‑generation APM will deliver more reliable, seamless travel for millions of passengers every year. We are proud to continue our long partnership with IAH and to help shape the future of airport mobility together.”

In 2024, Alstom delivered 99.63% availability for the current system, demonstrating strong operational performance.

A long-standing partnership

Alstom has been operating and maintaining the Skyway APM at Houston’s largest airport for two decades, using the original Innovia APM 100 vehicles. Alstom has a dedicated 48‑person operations and maintenance team onsite to support reliability amid the airport’s major expansion program. The new contract builds on more than 25 years of collaboration and reinforces Alstom’s role as a trusted mobility partner to the airport.

Industry leading solutions

As a market leader in rail services, Alstom supports customers over the entire asset lifecycle with the broadest portfolio of services solutions. The state-of-the-art Urbalis signalling system is used on over 190 metro lines in 32 countries with, including 74 that operate in a complete automatic, driverless basis. Alstom’s FlexCare Operate solutions cover the full spectrum of customer needs, including operations for all types of fleets, maintenance for the full transit system, as well as turnkey and public-private partnership offerings. Our customers benefit from reduced operating costs and increased operational efficiencies through technologies and best practices based on over 40 years of experience operating and maintaining trains and systems. With over 25 active operations and maintenance projects worldwide, we are a trusted partner in helping airports, transit authorities and communities achieve their transportation goals.

Alstom’s Innovia APMs transport passengers safely and efficiently at 15 airports across the United States. Market‑leading for more than 50 years, the driverless Innovia APM is an efficient mobility solution specially designed to offer quick and convenient service for commuters between airport terminals, to and from airports, or within cities. Over 30 of Alstom’s automated people mover systems have been delivered worldwide.

As the leading rolling stock and rail services provider in the U.S., Alstom has delivered more than 12,000 new or renovated vehicles for domestic rail agencies and airports, including those in New York City, Chicago, Los Angeles, Atlanta, Boston, Washington, D.C., San Francisco, Atlanta, and New Jersey, and delivered the first high-speed trains made in America. Alstom is also the number one private rail operator in the country, serving more than 20 rail and airport customers and moving millions of passengers daily.

ALSTOM™, Urbalis Flo™, Innovia™ and FlexCare Operate™ are protected trademarks of the Alstom Group.

 About Alstom  Alstom commits to contribute to a low carbon future by developing and promoting innovative and sustainable transportation solutions that people enjoy riding. From high-speed trains, metros, monorails, trams, to turnkey systems, services, infrastructure, signalling and digital mobility, Alstom offers its diverse customers the broadest portfolio in the industry. With its presence in 63 countries and a talent base of over 86,000 people from 184 nationalities, the company focuses its design, innovation, and project management skills to where mobility solutions are needed most. Listed in France, Alstom generated sales of €18.5 billion for the fiscal year ending on 31 March 2025. For more information, please visit www.alstom.com.

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  1 This order will be booked in the fourth quarter of Alstom’s fiscal year 2025/26.

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The rapid expansion of artificial intelligence infrastructure is beginning to test the limits of the global semiconductor ecosystem, with Broadcom pointing to growing constraints across key supply chains.

The company said pressure at Taiwan Semiconductor Manufacturing Company is now affecting production timelines, while shortages are also emerging in other critical components.

The situation reflects how demand for AI chips has accelerated faster than expected, absorbing available capacity and forcing companies to rethink how they secure supply.

It also highlights a broader shift in procurement strategies as firms seek to manage risks tied to tight production cycles.

TSMC capacity tightensBroadcom said, reports Reuters, its manufacturing partner, Taiwan Semiconductor Manufacturing Company, is approaching production limits as demand for advanced chips linked to AI continues to rise.

The company indicated that capacity constraints, once considered unlikely, are now shaping supply conditions across the industry.

The pressure is expected to continue despite ongoing expansion plans. TSMC is increasing capacity through 2027, but the buildout is not expected to ease immediate strain.

Instead, the current year has emerged as a point where demand is outpacing available production, creating a bottleneck for customers reliant on advanced nodes.

The Taiwanese chipmaker had already signalled these issues earlier, stating in January that strong demand from AI infrastructure projects had absorbed much of its advanced manufacturing capacity.

It also noted efforts to reduce the gap between supply and demand.

Supply strain spreads widerThe constraints are no longer limited to chip fabrication.

Broadcom said the impact is spreading across multiple parts of the technology supply chain, affecting components that are essential to AI systems.

Laser components are facing supply pressure even with several suppliers operating in the market.

This indicates that scaling production for specialised parts remains a challenge as demand rises.

Printed circuit boards have also become an unexpected bottleneck.

Suppliers based in Taiwan and China are dealing with capacity limits, which are leading to longer lead times for companies assembling hardware for AI applications.

These developments show that supply constraints are becoming more complex, extending beyond semiconductor foundries to supporting industries that are critical for final product assembly.

Shift towards long-term contractsAs supply tightens, companies are changing how they secure access to critical components.

Broadcom said customers are increasingly entering long-term agreements with suppliers to lock in capacity over several years.

These contracts typically span three to four years, reflecting a move away from shorter procurement cycles.

The approach is aimed at reducing uncertainty and ensuring continuity in supply during periods of high demand.

The trend is also visible in other parts of the industry.

Samsung Electronics said last week it is working with major customers to shift towards agreements lasting between three and five years.

Managing supply-demand imbalanceThe move towards longer contracts reflects a broader effort to manage imbalances between supply and demand.

Customers are seeking stability, while suppliers are aiming to plan production more effectively in a volatile environment.

The current situation highlights how the AI boom is reshaping not just demand patterns but also supply chain dynamics.

As companies continue to expand capacity and adjust procurement strategies, managing these constraints remains a central challenge for the global technology sector.

Kingfisher PLC (LSE:KGF) has rewarded investors with a fresh share buyback programme after it increased annual profits 6% last year and eyes further improvements.

The FTSE 100 retailer, which operates the B&Q and Screwfix chains, made adjusted profits of £560 million in the year to 31 January 2026, above the middle of the guidance range of £540-570 million set out in November, driven by stronger sales volumes, wider profit margins and tight cost control.

Like-for-like sales rose 1.4%, with the UK leading the way. B&Q posted sales growth of 4% and Screwfix 4.5%, with both brands gaining market share alongside French and Spanish operations.

Chief executive Thierry Garnier hailed the combination of "significant market share gains, profit growth and strong free cash flow".

Trade customers – professional builders and contractors rather than DIY shoppers – now account for 30% of group sales, up sharply, while online sales rose 20% and represent a fifth of total revenue.

After completing a £300 million share buyback, Kingfisher has launched a new buyback of the same size and announced a full-year dividend of 12.4p per share, also the same as last year.

For the year ahead, the group is guiding for adjusted profit of £565–625 million and free cash flow of £450-£510 million.

Garnier described the current backdrop as "a mixed consumer environment across our markets", and said the group would "continue to focus on delivering our strategic priorities, maintaining cost discipline and driving shareholder returns. This positions us well to capitalise on the attractive long-term structural growth opportunities within our markets." 

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High-bandwidth memory chip (HBM4) manufactured by South Korea's SK Hynix are displayed at the Reuters office in San Francisco, California, U.S., January 13, 2026. REUTERS/Max A. Cherney Purchase Licensing Rights, opens new tab

SEOUL, March 24 (Reuters) - South Korea's SK Hynix (000660.KS), opens new tab is considering raising 10 trillion to 15 trillion won ($10.03 billion) through a potential U.S. listing, aiming ​to expand production capacity for advanced memory chips, the ‌Korea Economic Daily reported.

A U.S. listing would give the Nvidia (NVDA.O), opens new tab supplier access to a wider pool of capital and could help narrow a gap in ​its valuation compared with global peers such as Micron (MU.O), opens new tab, ​the newspaper said.

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SK Hynix plans to issue ⁠new shares to support a listing of American depositary receipts (ADRs), ​with funds likely to be used to build artificial intelligence infrastructure ​and expand capacity for memory products, the newspaper reported, citing unnamed industry sources.

The chipmaker, in a statement to Reuters, said that the company is reviewing ​various measures to enhance shareholder value, including an ADR listing, but ​added that nothing has been finalised.

SK Group Chairman Chey Tae-won last week said ‌SK ⁠Hynix is reviewing a potential U.S. ADR listing to broaden its global investor base beyond Korea and increase exposure to global investors.

In January, SK Hynix said it would cancel about 12.2 trillion ​won worth of ​treasury shares, equivalent ⁠to 2.1% of total shares outstanding, in a move aimed to boost shareholder value.

SK Hynix ranks No.1 ​in the high-bandwidth memory chip market, used in AI, ​with ⁠a 57% share. It also holds a 32% share of the global DRAM market, used in AI chipsets and electronic devices, making it the second-largest ⁠player ​after cross-town rival Samsung Electronics (005930.KS), opens new tab, according to ​Counterpoint.

Shares of SK Hynix closed up 5.7%, compared with a 2.7% rise in the ​benchmark KOSPI (.KS11), opens new tab.

($1 = 1,495.0000 won)

Reporting by Heekyong Yang; Editing by Harikrishnan Nair

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

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The Indonesian palm oil producer says crop volumes are up 10% in early 2026, with selling prices close to last year's record levels

MP Evans Group PLC (AIM:MPE), the AIM-listed Indonesian palm oil producer, has reported a strong start to 2026, with crop volumes up 10% in the first two months of the year compared with the same period in 2025, extending a trend that emerged in the latter part of last year.

Average selling prices for crude palm oil (CPO) have remained close to their 2025 levels, with some tenders exceeding $900 per tonne in the early weeks of the year and an average of approximately US$860 per tonne across January and February.

The group also flagged that renewed conflict in the Middle East could push mineral oil prices higher, potentially lifting demand for vegetable oil alternatives such as CPO, though it cautioned that fuel and fertiliser costs might also rise as a result.

The current trading update accompanied full-year results for 2025 that the company described as another record year.

Gross profit rose 22% to $142.2 million (2024: $116.6 million), driven by higher CPO prices, which averaged $866 per tonne over the year compared with $823 per tonne in 2024, and by a deliberate shift towards processing more of the group's own higher-quality crop rather than buying in from independent suppliers.

Revenue increased to $371 million (2024: $352.8 million) and earnings per share rose to 161.3 pence (2024: 129.6 pence).

The board is recommending a final dividend of 42p per share, bringing the total for the year to 60 pence per share, up from 52.5 pence in 2024, and extending the group's record of maintaining or increasing its dividend to 35 consecutive years.

MP Evans expanded its planted estate by almost 5,000 hectares during 2025. This took the total under management to more than 70,000 hectares, following an acquisition of more than 3,000 planted hectares adjacent to its Bumi Mas operation in East Kalimantan and further planting at its Musi Rawas and Kota Bangun estates.

Certified sustainable CPO production rose to 275,000 tonnes, representing 80% of output from the group's own mills.

Chairman Peter Hadsley-Chaplin said the group was confident in its ability to maintain a progressive dividend and that its overall prospects remained secure.