Market Signal Briefing

Cardano Price Today: Consolidation After a DowntrendCardano ($ADA) is currently trading around $0.26–$0.27, moving sideways after a prolonged downtrend.

Over the past few weeks, ADA has shown limited volatility, with price action stuck in a tight range and no strong breakout attempts. Buyers are present, but not strong enough to push the price higher.

Cardano Price Analysis: Range-Bound with Strong ResistanceLooking at the chart, ADA is no longer trending down aggressively, but it is also not in a confirmed uptrend.

Key levels:

Immediate resistance: $0.30Major resistance: $0.40Critical target: $0.50Support zone: $0.25Price has repeatedly failed to hold above $0.30, showing that sellers remain active at higher levels.

👉 This suggests a neutral to slightly bearish structure.

How Much Does ADA Need to Reach $0.50 Before April?Let’s calculate:

Current price ≈ $0.27Target price = $0.50👉 Required increase:
+85%

This would need to happen within days to a couple of weeks — a very aggressive move.

Is an 85% Move Before April Realistic?👉 Mostly unlikely

Here’s why:

1. Time Constraint Is Very TightReaching $0.50 before April would require a rapid move with sustained momentum — something not currently visible on the chart.

2. Multiple Resistance LevelsADA would need to break:

$0.30$0.40Then push toward $0.50Each level increases selling pressure and slows the move.

3. Lack of MomentumThe current consolidation between $0.25 and $0.30 shows hesitation rather than accumulation for a breakout.

RSI Insight: No Breakout Signal YetThe RSI is around 47–48, indicating:

Neutral momentumNo bullish divergenceNo sign of an imminent breakout👉 This supports the idea that ADA is not building strong upward pressure yet.

Historical Comparison: Has ADA Done This Before?Cardano has delivered 80%+ rallies, but typically:

During strong altcoin seasonsWith high market-wide momentumAfter major catalysts👉 Right now, these conditions are not present, especially within such a short timeframe.

Most Likely Scenario Before April 2026Based on the chart:

ADA likely remains between $0.25 and $0.30Break above $0.30 → first bullish signalBreak above $0.40 → stronger trend shift$0.50 → unlikely before April without a sudden catalystCardano Price Prediction: Can ADA Reach $0.50 Before April?👉 Mostly unlikely

To reach $0.50 before April 2026, ADA would need:

An 85% price surge in daysClean breakout above multiple resistance levelsStrong bullish momentum across the marketThese conditions are currently missing.

ConclusionCardano is stabilizing, but not yet ready for a major breakout.

While $0.50 remains a valid long-term target, expecting it before April 2026 does not align with:

Current technical setupMarket structureMomentum indicators👉 The key level to watch remains $0.30 — a break above it could be the first sign of recovery.

Despite some bouts of heightened volatility, Bitcoin (BTC) has somehow managed to keep its head above water this month, being up more than 4% at the time of writing.

However, all the uncertainty regarding the current geopolitical situation continues to cloud the asset’s near-term outlook, even as institutional appetite grows.

Bitcoin has also been trading within a tight range, consolidating between its 30-day Simple Moving Average (SMA) at $68,857 and the 7-day SMA at $72,130, with momentum indicators remaining neutral.

This uncertainty is likewise reflected in where the leading large language models (LLMs) see the cryptocurrency landing by the end of the month.

AI predicts Bitcoin price on April 1, 2026 For example, Finbold’s AI prediction agent, which combines the outputs from Gemini 3 Flash, ChatGPT 5.2, and Grok 4.1, projects an average BTC price of $72,565 on April 1, 2026, suggesting a modest 2.54% rally upside from the current price of $70,769.

BTC price prediction. Source: Finbold However, when one compares each individual algorithm, the result obtains another dimension.

Namely, while OpenAI’s and xAI’s chatbots are bullish, predicting that the Bitcoin prices would go up 2.66% and 8.1%, respectively, their Google counterpart has a completely different idea.

That is, the analysis given by Gemini suggests traders ought to prepare for a somewhat lower price of $68,546, which implies a 3.14% downside.

LLMs predict BTC price for April 1. Source: Finbold In other words, the average Bitcoin price target for April 1, 2026, is the result of three rather disparate takes that see the asset trading anywhere from below its 30-day SMA to highs not seen since early February.

Bitcoin price outlook The current price action suggests that Bitcoin is holding above a key medium-term average as the total cryptocurrency market capitalization reflects muted activity (up just 0.08%). A daily close above the 7-day SMA at $72,130, however, would likely indicate a return of short-term bullish momentum.

BTC technical analysis. Source: Finbold In the short term, Bitcoin’s trajectory will also likely hinge on whether it can maintain support at the $70,856 Fibonacci level. Sustained strength above that could bring the 7-day SMA resistance at $72,130 into consideration . On the downside, though, a break below the 30-day SMA at $68,857 could lead to a deeper pullback.

Featured image via Shutterstock

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New Analysis Suggests Industrial Heat Electrification Economics May Improve Meaningfully, With Projected Returns Potentially Exceeding Typical Industrial Hurdle Rates Across Europe by 2030 Rosh Ha'Ayin, Israel--(Newsfile Corp. - March 20, 2026) - Brenmiller Energy Ltd. (NASDAQ: BNRG) ("Brenmiller", "Brenmiller Energy" or the "Company"), a provider of integrated power and heat solutions for industrial and utility customers built around its proprietary thermal energy storage ("TES") technology, today highlighted the rapidly expanding market opportunity for industrial heat electrification in Europe following the release of a March 13, 2026 McKinsey & Company blog of Industrial heat electrification in Europe: New business models emerge, that underscores the improving economics and strong growth potential of TES systems.

March 20, 2026 08:00 ET  | Source: PEDEVCO Corp.

HOUSTON, March 20, 2026 (GLOBE NEWSWIRE) -- PEDEVCO Corp. (NYSE American: PED) (“PEDEVCO” or the “Company”), a domestic energy company engaged in the acquisition and development of strategic, high growth energy projects in the Rocky Mountain region, today announced that President & Chief Executive Officer J. Douglas Schick, Chief Operating Officer Reagan Tuck (R.T.) Dukes, and Executive Vice President & General Counsel Clark Moore, will participate in the 38th Annual Roth Conference taking place March 22–24, 2026.

Members of management will host investor meetings on-site during the conference. An updated investor presentation is available on the Company’s website at https://www.pedevco.com/investors.

Full event details are listed below.

38th Annual ROTH Conference
Dana Point, California
March 22-24, 2026

About PEDEVCO Corp.
PEDEVCO Corp. (NYSE American: PED) is a publicly traded energy company engaged in the acquisition and development of strategic, high growth energy projects in the United States. The Company’s principal assets are its Rockies Assets located in the D-J Basin of Wyoming and Northern Colorado and the Powder River Basin in Wyoming. The Company also holds assets in the Permian Basin located in eastern New Mexico. PEDEVCO is headquartered in Houston, Texas. More information about PEDEVCO can be found at www.pedevco.com.

Cautionary Statement Regarding Forward-Looking Statements
This press release may contain forward-looking statements, including information about management's view of PEDEVCO's future expectations, plans and prospects, within the meaning of the federal securities laws, including the safe harbor provisions under The Private Securities Litigation Reform Act of 1995 (the “Act”). In particular, when used in the preceding discussion, the words “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “will,” “would” and variations of these terms and similar expressions, or the negative of these terms or similar expressions are intended to identify forward-looking statements within the meaning of the Act and such laws, and are subject to the safe harbor created by the Act and applicable laws. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of PEDEVCO and its subsidiaries to be materially different than those expressed or implied in such statements. The forward-looking statements include statements regarding the anticipated effects of the proposed Reverse Stock Split, the Company’s capital structure, per-share trading price, capital markets profile, per-share metrics, and ability to attract institutional investors, and others that are included from time to time in filings made by PEDEVCO with the Securities and Exchange Commission, including, but not limited to, in the “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” sections of its Form 10-Ks and Form 10-Qs and in the Information Statement. These reports and filings are available at www.sec.gov. The Company cautions that the foregoing list of important factors is not complete. All subsequent written and oral forward-looking statements attributable to the Company or any person acting on behalf of the Company are expressly qualified in their entirety by the cautionary statements referenced above. Other unknown or unpredictable factors also could have material adverse effects on PEDEVCO's future results and/or could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

Media Contact:
PEDEVCO Corp.
(713) 221-1768
[email protected]

Investor Relations Contact:
Sean Mansouri, CFA or Laurent Weil
Elevate IR
(720) 330-2829
[email protected]

March 20, 2026 08:00 ET  | Source: VisionWave Holdings, Inc.

WEST HOLLYWOOD, Calif., March 20, 2026 (GLOBE NEWSWIRE) -- VisionWave Holdings, Inc. (Nasdaq: VWAV) (“VisionWave” or the “Company”), a developer of advanced AI-driven sensing, RF, and defense-related technologies, today announced the establishment and full acquisition of VisionWave IL Ltd., a wholly owned subsidiary based in Israel for nominal consideration.

The Company has appointed Khdoura Sabbagh (A/K/A Adir Sabag) as Chief Executive Officer and sole director of VisionWave IL Ltd., and engaged Oren Attiya, through CO-Finance Financial and Accounting Consulting Ltd., to provide financial leadership and CFO-level services to the subsidiary.

Strategic Expansion into Israel - The formation of VisionWave IL Ltd. represents an initial step in the Company’s continued expansion of its global operational footprint, positioning VisionWave within one of the world’s leading hubs for advanced engineering, defense innovation, and applied AI technologies.

Israel is widely recognized for its concentration of high-caliber engineering talent, particularly in areas directly aligned with VisionWave’s core platforms, including:

RF-based sensing and signal intelligenceAutonomous systems and defense technologiesAdvanced data processing and AI-driven applications
VisionWave believes that establishing a dedicated presence in Israel will support its ability to accelerate development initiatives, strengthen technical capabilities, and enhance execution across its growing portfolio of strategic programs.   This remains subject to successful implementation, talent acquisition, and market conditions, and there can be no assurance that the subsidiary will generate material benefits or revenue in the near term.

Leadership Appointments – Adir Sabag, as CEO of VisionWave IL Ltd., will lead the subsidiary’s operations, including business development, engineering coordination, and local execution of strategic initiatives.

Oren Attiya, through his consulting firm, will support the subsidiary’s financial infrastructure, including accounting, reporting, and compliance functions, contributing to the Company’s ongoing commitment to disciplined financial oversight.

Management Commentary -Douglas Davis, CEO and Executive Chairman of VisionWave Holdings, stated:

“The establishment of VisionWave IL Ltd. reflects our continued focus on building a globally integrated technology platform. Israel represents a unique environment with advanced engineering, defense expertise, and innovation converge. We believe this expansion strengthens our ability to execute on multiple strategic initiatives across our platform.”

Positioning Within VisionWave’s Broader Strategy

The Israeli subsidiary is expected to support the Company’s broader initiatives across its evolving technology ecosystem, including:

RF-based sensing and imaging technologiesAutonomous and unmanned system applicationsDefense and homeland security-related platformsIntegration of advanced computational and AI-driven capabilities VisionWave believes that this expansion may enhance its ability to align technical development with commercial and strategic opportunities across multiple regions.   Any benefits remain subject to execution risks, including regulatory, geopolitical, and operational factors in Israel.

About VisionWave Holdings, Inc.

VisionWave Holdings, Inc. (Nasdaq: VWAV) is a dual-market autonomous systems platform company developing AI-driven, RF-based sensing, autonomy, and computational acceleration technologies for defense, homeland security, and commercial infrastructure applications. VisionWave’s mission is to connect defense innovation with civilian progress through shared core technologies deployed across air, land, and sea.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the establishment of VisionWave IL Ltd., the appointments of leadership, the potential benefits of an Israeli presence, expected support for development initiatives, and the Company’s broader strategic opportunities in defense and autonomy technologies. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially.

Forward-looking statements are generally identified by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "project," "forecast," "predict," and similar expressions, or by statements that events or trends "may," "will," or "could" occur.

Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied, including but not limited to: the early-stage and exploratory nature of the subsidiary with no assurance of material contributions; challenges in talent acquisition, operational execution, or strategic alignment in Israel; geopolitical, regulatory, or economic risks associated with operations in Israel; potential delays or failures in realizing any anticipated benefits from the subsidiary; the Company’s ability to fund and manage international expansion without significant impact on liquidity; competition in defense and autonomy technologies; and other risks described in the Company’s filings with the U.S. Securities and Exchange Commission. All forward-looking statements speak only as of the date of this press release and are expressly qualified in their entirety by the cautionary statements included in this press release and in the Company's SEC filings. VisionWave undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. Investors are cautioned not to place undue reliance on these forward-looking statements.

Contacts:

VWAV - Investor Contact: [email protected]

Website: https://www.vwav.inc

8am: Wall Street called lower US stocks are heading for a weak finish to a turbulent week, as oil prices clawed back Thursday's losses despite efforts by Washington and Israel to calm energy markets.

Nasdaq futures are down 0.6% in pre-market trading, with S&P 500 and Dow Jones futures slipping 0.5% and 0.4%, respectively. Brent crude, which had dipped to around $107 a barrel earlier, has bounced back to $110.21, while WTI futures are trading at $95.13.

Thursday brought some brief respite, when Brent fell as much as 2% after Israeli Prime Minister Benjamin Netanyahu suggested Israel could help the US reopen the Strait of Hormuz and hinted the conflict could end sooner than many feared. The comments lifted Wall Street off its lows by raising hopes of de-escalation and easing fears over supply disruptions.

"We are in the middle of a major selloff in risk assets, but it’s non-linear," commented Saxo UK investor strategist Neil Wilson. "Are we near the end, or is there more to come? The path depends on the expected outcome of the war, which is totally unknown."

Wilson noted that stocks opened higher on Friday morning in Europe, after a steep selloff in the previous session, because of the apparent de-escalation on energy infrastructure. 

"Broadly, markets are starting to better price duration – i.e., a longer, protracted conflict and a long tail of restoring energy flows to anything like pre-war levels, which will ensure not just headline inflation rises in the short-term, but could also support higher longer-term inflation expectations. To illustrate, Iranian attacks will wipe out 17% of Qatar’s LNG capacity for three to five years, QatarEnergy CEO Saad al-Kaabi said yesterday."  

In Europe, London's FTSE 100 has recovered from mid-morning weakness and traded 0.2% firmer by lunchtime in the UK. Frankfurt's DAX was down 0.1%, and the Paris CAC 40 was marginally higher. 

HomeInvestingCryptocurrenciesFA CenterFA CenterCrypto-curious clients are forcing wealth managers to rethink their opposition. Many use a 5% rule to manage the risk.Published: March 20, 2026 at 8:01 a.m. ET

Financial advisers generally have viewed bitcoin BTCUSD and other crypto as a bad idea. That’s changing, but many advisers still view digital assets as speculation, not investment. They point out that, because crypto doesn’t generate income and has no earnings, it doesn’t provide the benefits stockholders get and so is inappropriate for most individuals.

Yet advisers increasingly are willing to accommodate clients who are crypto enthusiasts. Some investors, especially younger professionals, already dabble in crypto before they seek an adviser. Financial planners who brush off crypto and reject it outright risk alienating these potential clients.

Evolution to Focus on Hospitality and Related Markets, Steady Product Revenue, Customer Growth and Expanding Leadership Team

Exits FY25 with Strong Cash Position to Accelerate AI Platform and Products and New Corporate Initiatives

AUSTIN, Texas, March 20, 2026 (GLOBE NEWSWIRE) -- Phunware, Inc. (“Phunware” or the “Company”) (NASDAQ: PHUN), the enterprise cloud platform for mobile-first software products, solutions, data, and services to enable customers to engage, manage, and monetize their global audiences, today reported financial results for the fourth quarter and year ended December 31, 2025.

Financial Highlights

Net revenue increased 33% to $0.8 million in Q4 2025, as compared to $0.6 million in Q4 2024.Gross margin improved to 57.7% in Q4 2025, as compared to 23.3% in Q4 2024, a 3,443 basis point improvement.Net loss improved to $2.1 million in Q4 2025, as compared to a net loss of $2.6 million in the previous year period.Net loss per basic and diluted share was ($0.11) in Q4 2025, as compared to ($0.15) per basic and diluted share in Q4 2024.FY 2025 net revenue decreased to $2.6 million from $3.2 million in FY 2024.FY 2025 gross margin increased 500 basis points to 50.6%, as compared to 45.6% in the prior year period.FY 2025 net loss was $11.4 million, or ($0.57) per basic and diluted share, compared to a net loss of $10.3 million, or ($0.94) per basic and diluted share in FY 2024.Net cash used in operations decreased to $12.5 million for the year ended December 31, 2025, as compared to $13.3 million for the previous year period.Cash and cash equivalents totaled $100.6 million as of December 31, 2025. Recent Business Highlights

Introduced two hospitality specific products, one for luxury brands and the other for full-service independent property owners, which provide solutions for developing modular, native mobile apps, with cloud-driven updates and a range of solutions for enhancing on-property guest experiences and engagements and ancillary revenue growth.Launched a redesigned corporate website and a refined portfolio of products for enhancing hospitality guest-related experiences, engagements and revenues.Continued investment in artificial intelligence (“AI”) to employ and integrate within our internal systems and product and services offerings.Continued development and release of our AI Concierge product, which is designed to personalize customer guest journeys through real-time wayfinding, Q&A and on-property recommendations.Announced election of Ed Lu to the Board of Directors, bringing financial, strategic and operational leadership experience to guide the Company's finance and technology strategy and customer initiatives.Appointed Elliot Han, a director of the Company since 2024 with experience in corporate finance and investments in digital asset companies, as Chairperson of the Board of Directors.Appointed Jeremy Krol, our Interim CEO, to the Board of Directors. Management Commentary

“The decrease of approximately $0.6 million in revenue from fiscal year 2024 to fiscal year 2025 was the result of a softening advertising market, but this was positively offset by growth in our software business. Moreover, net revenue increased 33% to $0.8 million in Q4 2025, as compared to $0.6 million in Q4 2024. The fourth quarter of 2025 and early 2026 reflects the ongoing evolution of our pioneering capabilities and forward-thinking approach to mobile software products and solutions that focus on the multi-billion-dollar hospitality market,” said Jeremy Krol, Interim CEO of Phunware. “We believe our platform and products can fundamentally change the economics of large hotels and resorts and deliver the most value to customers and shareholders.

"We recently introduced two hospitality-specific product tiers designed to align our platform with the distinct needs of different property segments. Our Luxury Engagement tier is built for premium hospitality brands. It delivers fully personalized digital guest experiences anchored by Phunware's deep wayfinding capabilities, serving as a branded, immersive companion for guests throughout the on-property journey. It is designed to anticipate guest needs, enhance discovery, and reinforce the brand's premium identity at every touchpoint. Our Enriched Experience tier is built for full-service independent properties. It delivers guest engagement through curated digital touchpoints that drive on-property discovery and surface amenities and events, extending core services into more intelligent, dynamic guest interactions to create new revenue opportunities for property operators. Both tiers are designed to deepen guest relationships while expanding monetization opportunities for property operators.

"We continue to invest in artificial intelligence across our internal operations and products. We note that IDC, a leading market intelligence provider, estimates that 50% of AI budgets in hospitality and travel will be allocated to guest personalization efforts by 2030, powering ambient intelligence and preference anticipation to increase guest satisfaction, and we intend to capitalize on that trend. Our AI Concierge, a generative AI module embedded within our mobile applications, serves as a conversational, human-like interface that enhances guest engagement and creates new monetization opportunities for our hospitality customers. Unlike conventional chatbot solutions, the AI Concierge is deeply integrated with Phunware's proprietary navigation and mapping technology, enabling guests to receive intelligent, context-aware responses and to be routed directly to their rooms, points of interest, restaurants, the spa and other on-property destinations with turn-by-turn directions and live blue-dot wayfinding. This integration of real-time conversational AI and on-property spatial intelligence represents what we believe is a significant differentiator for Phunware in the hospitality technology market. Following a successful pilot program with one of our large resort customers, AI Concierge is now commercially available, and Phunware is actively selling this module to new and existing customers.

"We recognize that hospitality brands are built on trust and we are taking a deliberate, collaborative approach on AI development for our products. Rather than deploying simple generative AI features at scale, we are working closely with our customers to develop agentic and predictive guest-focused AI solutions tailored to their immediate operational needs while progressively building more robust language models trained on increasingly complete guest behavior, location intelligence and property data. We believe this measured approach of combining near-term commercial value with longer-term data and model enterprise value and maturity positions us to deliver AI guest experience capabilities that luxury brands and independent property operators can deploy with confidence and their guests will actually use, which in our view is ultimately the threshold that separates AI as a strategic asset from AI as a marketing line item in this vertical. Beyond hospitality, we continue to serve healthcare customers where our wayfinding and mobile engagement capabilities address similar on-property navigation and patient experience challenges, and we see meaningful opportunity to extend our AI-enabled products into that vertical as it matures.

"Looking ahead, we remain deeply committed to executing our transformative approach within the hospitality industry, driving ancillary revenue growth while enhancing guest experiences through smart digital engagement. The hospitality industry is entering a new phase where technology, and AI in particular, is no longer simply an add-on feature, but is evolving to become the core infrastructure for maximizing guest experience and property value, unlocking customer operational efficiencies and revenues and delivering personalized guest experiences at scale. Our continued investment in AI, grounded in real product integration and close customer collaboration, is central to that vision.

"Operationally, we are expanding business and sales initiatives, including new sales and marketing personnel to accelerate momentum for our existing products and drive adoption of our AI Concierge and future AI-enabled capabilities. With approximately $100 million in cash and cash equivalents at year-end, we have meaningful capacity to invest in our product research and development, sales, other intellectual property and organic and inorganic growth, including potential acquisitions and partnerships, to deepen our data assets and infrastructure, extend our development platform, and accelerate our AI roadmap." concluded Krol.

Note about Non-GAAP Financial Measures

A non-GAAP financial measure is a numerical measure of a company’s performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with accounting principles generally accepted in the United States of America, or GAAP. Non-GAAP measures are not in accordance with, nor are they a substitute for, GAAP measures. Other companies may use different non-GAAP measures and presentation of results.

In addition to financial results presented in accordance with GAAP, this press release presents adjusted EBITDA, which is a non-GAAP measure. Adjusted EBITDA is determined by taking net loss and adding interest expense (income), income tax expense, depreciation, and further adjusted for non-cash impairment, valuation adjustments and stock-based compensation expense. The company believes that this non-GAAP measure, viewed in addition to and not in lieu of net loss, provides additional information to investors by providing a more focused measure of operating results. This metric is an integral part of the Company’s internal reporting to evaluate its operations and the performance of senior management. A reconciliation of adjusted EBITDA to net loss, the most comparable GAAP measure, is available in the accompanying financial tables below. The non-GAAP measure presented herein may not be comparable to similarly titled measures presented by other companies.

US-GAAP NET LOSS TO ADJUSTED EBITDA RECONCILIATION

  Year Ended December 31, (in thousands) 2025  2024 Net loss $(11,401) $(10,316)Add back: Depreciation  13   16 Add back: Interest expense  32   135 Less: Interest income  (4,268)  (1,732)Add back: Income tax (benefit) expense  (19)  41 EBITDA  (15,643)  (11,856)Add back: Stock-based compensation  455   1,656 Less: Gain on extinguishment of debt  -   (535)Add back: Loss on disposal of subsidiary  -   418 Less: Gain on legal settlement  (959)  - Adjusted EBITDA $(16,147) $(10,317)          About Phunware

Phunware, Inc. (NASDAQ: PHUN) is an enterprise software company specializing in mobile app solutions for hospitality, healthcare and other large property related customers, with integrated intelligent capabilities. We provide businesses with the tools to create, implement, and manage custom mobile applications, analytics, digital advertising, and location-based services. Phunware is transforming mobile engagement by delivering scalable, personalized, and data-driven mobile app experiences.

Phunware’s mission is to achieve unparalleled connectivity and monetization through the widespread adoption of Phunware mobile technologies, leveraging brands, consumers, partners, and market participants. Phunware is poised to expand its software products and services audience through new generative AI products and product enhancements which are in development, utilize and monetize its patents and other intellectual property, and focus on serving its enterprise customers and partners.

For more information on Phunware, please visit www.phunware.com.

Safe Harbor / Forward-Looking Statements

This press release includes forward-looking statements. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations and financial position, business strategy and plans, and our objectives for future operations, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “will,” and similar expressions are intended to identify forward-looking statements. For example, Phunware uses forward-looking statements when it discusses the adoption and impact of emerging technologies and their use across mobile engagement platforms.

The forward-looking statements contained in this press release are based on our current expectations and beliefs concerning future developments and their potential effects on us. These forward-looking statements involve risks, uncertainties, and other assumptions that may cause actual results to differ materially from those expressed or implied. These risks and uncertainties include, but are not limited to, those factors described under the heading “Risk Factors” in our filings with the SEC. We undertake no obligation to update any forward-looking statements.

By their nature, forward-looking statements involve risks and uncertainties. We caution you that forward-looking statements are not guarantees of future performance and that our actual results may differ materially from those expressed or implied by these forward-looking statements.

Investor Relations Contact:
Chris Tyson, Executive Vice President
MZ Group - MZ North America
949-491-8235
[email protected]
www.mzgroup.us

Phunware, Inc.
Consolidated Balance Sheets
(In thousands, except share and per share information)  December 31,  December 31,   2025  2024 Assets:      Current assets:      Cash and cash equivalents $100,587  $112,974 Accounts receivable, net of allowance for credit losses of $113 and $166 as of December 31, 2025 and December 31, 2024, respectively  300   276 Digital currencies  96   103 Prepaid expenses and other current assets  19,164   406 Total current assets  120,147   113,759 Non-current assets:      Property and equipment, net  11   24 Right-of-use asset, net  552   840 Other assets  158   158 Total non-current assets  721   1,022 Total assets $120,868  $114,781        Liabilities and stockholders' equity      Current liabilities:      Accounts payable $1,070  $3,754 Accrued expenses  19,905   148 Deferred revenue  1,386   1,034 Lease liability  342   313 PhunCoin subscription payable  1,202   1,202 Total current liabilities  23,905   6,451 Deferred revenue  369   528 Lease liability  277   619 Total noncurrent liabilities  646   1,147 Total liabilities  24,551   7,598 Commitments and contingencies (See Note 7)  -   - Stockholders' equity      Common stock, $0.0001 par value, 1,000,000,000 shares authorized; 20,198,290 shares issued and 20,188,160 shares outstanding as of December 31, 2025 and 20,166,665 shares issued and 20,156,535 shares outstanding as of December 31, 2024  2   2 Treasury stock  (502)  (502)Additional paid-in capital  421,538   421,003 Accumulated deficit  (324,721)  (313,320)Total stockholders' equity  96,317   107,183 Total liabilities and stockholders' equity $120,868  $114,781           Phunware, Inc.
Consolidated Statements of Operations and Comprehensive Loss
(In thousands, except share and per share information)  Year Ended   December 31,   2025  2024        Net revenue $2,553  $3,189 Cost of revenue  1,262   1,735 Gross profit  1,291   1,454 Operating expenses:      Sales and marketing  3,352   2,605 General and administrative  15,295   10,473 Research and development  3,163   2,265 Total operating expenses  21,810   15,343 Operating loss  (20,519)  (13,889)Other income (expense):      Interest expense  (32)  (135)Interest income  4,268   1,732 Gain on extinguishment of debt  -   535 Other income, net  4,863   1,482 Total other income  9,099   3,614 Loss before taxes  (11,420)  (10,275)Income tax benefit (expense)  19   (41)Net loss  (11,401)  (10,316)Net loss per share, basic and diluted $(0.57) $(0.94)Weighted-average shares used to compute net loss per share, basic and diluted  20,177,806   10,972,163           Phunware, Inc.
Consolidated Statements of Cash Flows
(In thousands)  Year Ended   December 31,   2025  2024 Operating activities      Net loss $(11,401) $(10,316)Adjustments to reconcile net loss to net cash used in operating activities:      Gain on extinguishment of debt  -   (535)Non-cash writeoff of accounts payable  (201)  (1,403)Stock-based compensation  455   1,656 Other adjustments  (607)  1,219 Changes in operating assets and liabilities:      Accounts receivable  (21)  130 Prepaid expenses and other assets  (258)  86 Accounts payable and accrued expenses  (267)  (2,933)Lease liability payments  (360)  (682)Deferred revenue  193   (347)Net cash used in operating activities from continued operations  (12,467)  (13,125)Net cash used in operating activities from discontinued operations  -   (177)Net cash used in operating activities  (12,467)  (13,302)Investing activities      Net cash for investing activities  -   - Financing activities      Proceeds from sales of common stock, net of issuance costs  80   122,342 Net cash provided by financing activities  80   122,342        Net (decrease) increase in cash and cash equivalents  (12,387)  109,040 Cash and cash equivalents at the beginning of the period  112,974   3,934 Cash and cash equivalents at the end of the period $100,587  $112,974               Supplemental disclosure of cash flow information      Interest paid $32  $31 Income taxes paid $25  $14 Supplemental disclosures of non-cash financing activities:      Issuance of common stock upon conversion of the 2022 Promissory Note $-  $4,505 Issuance of common stock for payment of bonuses and consulting fees $-  $35 

Even with a steep market decline in early 2026, many top cryptocurrencies are still trading at sky-high prices. A single Bitcoin (BTC 0.08%), for example, will set you back about $71,000.

However, there's a quick, simple way to put together a diversified crypto portfolio for the ultra-low cost of just $60. Here's how to do it.

Start with Bitcoin The building block of any cryptocurrency portfolio needs to be Bitcoin. After all, the world's most popular cryptocurrency still accounts for a whopping 60% of the total market cap of the crypto market. As a general rule of thumb, then, Bitcoin needs to account for at least 60% of your portfolio. Otherwise, you're not getting full exposure to crypto as a unique asset class.

Image source: Getty Images.

Although the cost of Bitcoin in the spot market is currently $71,000, there are cheaper ways to get access to it. For example, you could pick up one share of the iShares Bitcoin Trust (IBIT 1.09%), which is currently trading for about $41. This spot crypto ETF gives you 1:1 exposure to the price action of Bitcoin, and can be used as a proxy for direct Bitcoin exposure.

Choose your favorite Layer 1 blockchain network The next step is to choose your favorite Layer 1 blockchain network. For the majority of investors, this will be Ethereum (ETH 2.30%). It remains the world's second most-popular cryptocurrency, with a huge $265 billion market cap.

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The good news is that it's possible to pick up a very affordably priced Ethereum ETF without paying $2,200 in the spot cryptocurrency market. The iShares Ethereum Trust (ETHA 2.06%), for example, trades for about $17 right now, and can be added to your portfolio as easily as any tech stock.

That said, there are other Layer 1 blockchain networks that appear to be growing faster than Ethereum right now, and might have a bigger payoff later down the road. My top pick right now is Solana (SOL 1.51%), which is rapidly gaining ground on Ethereum, especially in the key area of decentralized finance (DeFi).

Add in a high-risk, high-upside altcoin Finally, for maximum diversification benefits, it's best to add at least one high-upside altcoin. One popular option right now is XRP (XRP 1.54%), which continues to tantalize crypto investors with the prospect of incredibly high future returns. XRP currently trades for a bargain price less than $1.50, making it an affordable addition to any portfolio.

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But you could just as easily add in an artificial intelligence (AI) crypto. Many of these are also bargain-priced and go for less than $1. My current favorite right now is Kite (KITE +0.00%), which bills itself as "the world's first AI payment blockchain." Kite launched at the end of 2025, and currently trades for a price of just $0.20.

The $60 crypto portfolio And there you have it: the basic framework for a diversified crypto portfolio, all for the low, low price of less than $60. That's $41 for the iShares Bitcoin Trust ETF, $17 for the Ethereum ETF, and $2 for 10 of the high-risk, high-upside Kite altcoins or about $1.50 for XRP.

Of course, you will need to rebalance this portfolio to get your allocation just right. But it's hard to go wrong with a 70/30 blend of Bitcoin and Ethereum at the outset, which is roughly what you get with $41 allocated to Bitcoin and $17 allocated to Ethereum.

And, if you want, that 70/30 blend can easily be changed to a 60/40 or 80/20 blend, depending on your overall risk-reward profile. You also can rotate into different high-upside altcoins as new trends emerge in the blockchain and crypto space.

Crypto investing doesn't need to cost an arm and a leg. Thankfully, new spot crypto ETFs make it possible to get exposure at a much lower price point, opening up crypto investing to a wider audience.

Bitcoin Price News: BTC Defends Uptrend Despite Volatility$Bitcoin price news today shows a market at a critical turning point. Despite recent volatility, BTC is holding firmly above a key ascending trendline, trading around the $70,000 level.

Looking at the 4-hour chart, Bitcoin continues to respect a rising support structure that has been forming since early March. This trendline has acted as a strong foundation, preventing deeper corrections even during sharp sell-offs.

Bitcoin Price Analysis: Ascending Trendline Still in PlayFrom a technical perspective, the chart reveals a clear structure:

Support Zone: $68,000 – $69,000 (trendline + recent bounce area)Major Support: $62,600 (previous range low)Resistance Zone: $74,000 – $76,000Key Breakout Level: $80,000Bitcoin recently corrected from the $75K–$76K range but found strong buying interest exactly at the ascending trendline. This confirms that buyers are still defending higher lows — a classic bullish continuation pattern.

As long as BTC remains above this trendline, the structure favors an eventual move higher.

RSI Signals Cooling Momentum — But Not WeaknessThe RSI indicator currently sits around 42–43, showing that momentum has cooled after the recent drop.

This is important for two reasons:

Bitcoin is no longer overbought, allowing room for a new move upThe market is stabilizing rather than entering panic-selling territoryHistorically, such RSI resets within an uptrend often precede the next bullish leg.

ETF Narrative Strengthens: Morgan Stanley Enters the GameOne of the biggest catalysts in recent bitcoin price news is Morgan Stanley filing for a spot Bitcoin ETF.

This development signals:

Continued institutional interest in BitcoinExpansion of ETF competition beyond existing playersPotential for increased capital inflows into BTCThe ETF narrative has been one of the strongest drivers of Bitcoin’s recent rally. With another major financial institution entering the space, the long-term outlook remains supported by growing institutional demand.

Bitcoin Future: What Happens Next?Bullish ScenarioIf Bitcoin continues to hold the ascending trendline:

A move toward $74K–$76K resistance becomes likelyA breakout could push BTC toward the $80K levelETF-related optimism could accelerate momentumBearish ScenarioIf the trendline breaks:

BTC could revisit $66K–$68KA deeper correction toward $62,600 support becomes possibleHowever, current price action suggests buyers are still in control.

Coinbase and Apex have created a tokenized Bitcoin Yield Fund on Base, which is targeting institutional investors. The project represents a tokenized fund that combines traditional financial compliance systems with the efficiency of blockchain technology. Coinbase Asset Management has joined hands with Apex Group to develop a tokenized Bitcoin Yield Fund on Base. Coinbase developed a fund to build investment products that are based on blockchain technology for institutional and accredited investors across the world.

The fund is developed on the ERC-3643 token standard. This standard allows for the direct integration of compliance rules into the token structure. This includes verified identity and eligibility checks for investors before they are allowed to subscribe, hold, and transfer the tokens representing shares in the fund. Apex Group provides transfer agency services and ensures compatibility with net asset value accounting systems.

Peter Hughes, CEO of Apex Group, said, “Digital assets are no longer a future ambition.” He further added, “The tokenized share class of the Coinbase Bitcoin Yield Fund is a concrete demonstration that institutional-grade compliance and blockchain efficiency are not in conflict.” Hughes explained that integrating compliance into tokens facilitates efficient distribution and meets institutional regulatory requirements globally. The Coinbase Asset Management President, Anthony Bassili, added to this, stating, “Tokenized fund infrastructure has finally arrived and is ready to scale. It needs to meet the same regulatory and operational standards investors expect from traditional markets.”

Tokenization Push Enhances Institutional Crypto Investment The Base network enables quicker settlement, lower costs, and transparency for users globally compared to conventional methods of fund distribution. This tokenized network is compatible with conventional processes and provides blockchain-based efficiencies for users. This increases operational reliability by enabling real-time tracking and auditability for digital asset transactions.

The development comes at a time when there is an increasing demand for regulated investment products involving cryptocurrencies among new entrants to the cryptocurrency markets around the globe. Tokenization enables the fund’s shares to assume the characteristics of digital assets based on blockchain technology while at the same time adhering to rules for compliance, security, and reporting.

Coinbase has plans to expand the model for different investment products, including the company’s United States bitcoin yield fund. Apex Group has plans for expanding strategies in terms of tokenization as the infrastructure for digital assets continues to advance in financial markets worldwide.

Highlighted Crypto News

Flow Traders Launches 24/7 OTC Liquidity for Tokenized Stocks, Gold, and Funds

I specialize in Web3 and crypto writing, producing clear, research-driven content on blockchain, cryptocurrencies, and market trends.

Bitcoin came below renewed selling pressure after Federal Reserve Chairman Jerome Powell signaled a cautious stance on future price cuts, triggering a broader market pullback. The important cryptocurrency dropped more than 5% in 24 hours, taking from weekly highs above $74,000 as macroeconomic troubles weighed on investor sentiment.

Fed Signals Drive Market Weakness The decline accompanied warmer-than-anticipated U.S. Producer Price Index (PPI) information, which strengthened fears that inflation stays chronic. Core PPI climbed to 3.9% 12 year-over-year, surpassing expectations and reducing the risk of near-term financial easing.

Powell’s remarks further dampened the risk appetite, as he emphasised that inflation remains above the Federal Reserve’s 2% target, with headline PCE at 2.8% and center inflation at 3.0%. His “data-dependent” stance shows interest costs may want to live higher for longer, a situation that usually pressures risk belongings like cryptocurrencies.

Liquidations Accelerate the Drop As Bitcoin fell to an intraday low near $70,176, the decline was intensified via a wave of liquidations throughout the crypto market. Over $382 million in long positions had been wiped out within a day, with Bitcoin and Ethereum accounting for more than $300 million combined. 

This cascade of forced selling added momentum to the downside move, amplifying short-term volatility and shaking bullish sentiment.

$70K Support Holds—for Now Despite the pointy pullback, consumers stepped in to defend the $70,000 level, a key psychological and technical support zone. Holding above this range has avoided a deeper correction towards the $60,000 area and kept the wider uptrend intact. Market individuals are now closely watching whether Bitcoin can hold stability above $70,000–$69,000, as this quarter should determine the following directional flow.

If support maintains to hold, Bitcoin may also try a rebound toward recent highs, doubtlessly focused on liquidity above. However, a breakdown below this level ought to open the door for further downside in the near term.

The Fed kept rates unchanged at 3.50%-3.75% on Mar. 18, lifted its 2026 inflation projections to 2.7% for both headline and core PCE, and held to a median year-end fed-funds path of 3.4%.

Chair Jerome Powell said higher energy prices will push up overall inflation in the near term and that the implications of events in the Middle East are uncertain.

One day later, the ECB held its deposit rate at 2.00% but revised its 2026 inflation forecast to 2.6% from 1.9%, with officials believing that the baseline is already outdated by the energy shock, with rate-hike discussions potentially starting at the Apr. 29-30 meeting and action more plausible at the June 10-11 meeting.

Bitcoin reached an intraday low below $69,000 on Mar. 19, below the psychological $70,000 threshold before recovering overnight.

The sequence breaks a narrative that has supported risk assets for months: that major central banks were delaying cuts by a quarter or two.

Markets are now entirely repricing the developed-world policy path. Traders have pushed Fed easing expectations to roughly 14 basis points by December, less than a single quarter-point cut, while fully pricing in two ECB hikes this year, with better-than-even odds of a third.

The Bank of England, which kept its Bank Rate at 3.75%, now trades with a higher probability of a hike than a cut. Bitcoin's battle with $70,000 is the fastest visible readout of that liquidity recalculation.

Central bank / assetCurrent rate or levelLatest signalInflation shift / concernMarket repricingBitcoin relevanceFed3.50%-3.75%Held rates unchanged on Mar. 182026 headline PCE raised to 2.7%; core PCE raised to 2.7%; Powell said higher energy prices will push up inflation in the near termRoughly 14 bps of easing priced by December, less than one full cutHigher-for-longer U.S. policy weakens a key liquidity tailwind for BTCECB2.00% deposit rateHeld on Mar. 19; officials see baseline as outdated by the energy shock; hike talks could start in April, with June more plausible for action2026 inflation forecast raised to 2.6% from 1.9%; baseline Brent assumption seen as staleTwo hikes fully priced this year, with better-than-even odds of a thirdReinforces that tighter policy is becoming a global, not just Fed, storyBoE3.75%Held rate; market read the stance as hawkishSays higher energy prices will push inflation above expectations this yearHigher probability of a hike than a cutConfirms cross-market repricing across developed central banksBitcoinBelow $70,000 on Mar. 19; intraday low below $69,000Fell through a key psychological threshold as central-bank expectations shiftedNot an inflation forecast asset, but trading the inflation/liquidity shockRepricing alongside the global higher-for-longer resetFastest visible market readout of the new policy pathOil forces the resetThe Fed's March SEP already showed discomfort. The median 2026 fed funds rate remained at 3.4%, versus a current midpoint of 3.625%, implying only one cut in the baseline path.

The longer-run rate rose to 3.1% from 3.0% in December. Powell's opening statement was explicit: “In the near term, higher energy prices will push up overall inflation.”

The Middle East conflict entered its fourth week with no clear resolution, and Brent crude briefly rose above $119 on Mar. 19 before pulling back.

The ECB's official baseline assumed a Brent price of $81.30 for 2026, with one ECB source reportedly saying that oil around $110 already makes that assumption stale, and another citing $200 oil as the kind of trigger that could force an April move.

The ECB's staff scenarios, published alongside the decision, provide a clearer picture of the scale of the risk.

The baseline assumes oil around $90 in the second quarter of 2026. The adverse scenario peaks near $119.

The severe scenario peaks near $145, lifting euro-area inflation by 1.8% in 2026 and 2.8% in 2027 relative to baseline, which would take headline inflation to 4.4% in 2026 and 4.8% in 2027.

The IMF's rule of thumb offers outside validation: every sustained 10% rise in energy prices for about a year can add 0.4% to global inflation and cut output by 0.1%- 0.2%.

That quantifies why central banks are now less comfortable “looking through” this shock than they were with earlier commodity spikes.

Bank of America had noted on Mar. 16 that a quick resolution could put Brent near $70. Still, the path toward $85 for a longer disruption or $130 for a prolonged conflict now looks more consistent with the energy market's direction.

A bar chart shows Brent crude price scenarios ranging from $70 to $145 per barrel, with the Mar. 19 intraday price of $119.2 already exceeding the ECB's adverse scenario peak.Bitcoin as a liquidity barometerBitcoin's behavior over the past 48 hours tracks macro sensitivity.

The Fed lifted inflation projections, kept only one cut in its median path, and Powell flagged energy as a near-term headwind.

The ECB raised its inflation forecast, published severe scenarios implying a much uglier inflation trajectory if energy disruption persists, and then some officials already view the baseline as obsolete.

Traders responded by repricing the entire developed-market rate path, and Bitcoin moved first.

The bull case for Bitcoin assumes that diplomatic de-escalation restores energy flows faster than feared, that oil retreats sharply, and that markets decide the March hawkish turn was a war premium rather than a durable policy reset.

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Bank of America's quick-resolution path pointed to Brent near $70, though that scenario appears less plausible given the Mar. 19 escalation. In that setup, Bitcoin can confirm a hold above $70,000 and work back toward the mid-$70,000s.

The case depends on central banks returning to a clearly dovish tilt, which requires the energy shock to fade.

The bear case assumes oil stays above current ECB assumptions, the June ECB meeting turns live, and markets fully abandon 2026 Fed easing. Bitcoin then tests the low- to mid-$60,000s.

Citi's recession case target of $58,000 serves as the cleanest outside anchor for that downside path.

If the discount rate for risky assets stays higher for longer, Bitcoin loses one of its cleanest cyclical tailwinds, even without any crypto-native negative catalyst.

Bitcoin fell to an intraday low of $68,834 on Mar. 19 after the Fed and ECB revised 2026 inflation forecasts higher.Central banks relearn a 2022 lessonEnergy shocks do not remain confined to the energy line if they are large enough and persistent enough, and arrive when inflation is not yet fully dead.

The ECB's scenario work explicitly assumes stronger indirect and second-round effects than standard models normally produce. The Fed's own projections now show inflation at 2.7% in 2026 for both headline and core, well above the 2% target.

The BoE's public explainer says higher energy prices will push inflation above expectations this year, that the impact will be greater the longer the war lasts, and that policymakers will do what is necessary to keep inflation on track.

Some investors now see the odds of a Fed hike by year-end creeping higher. That tail repricing hits Bitcoin first because it sits at the intersection of liquidity, risk appetite, and narrative momentum.

Central banks that spent months preparing markets for easing are now updating their frameworks under an energy shock that refuses to behave like a transient supply disruption.

Bitcoin's dip below $70,000 is the market's fastest visible expression of that recalibration.

The asset is behaving less like an idiosyncratic crypto story and more like a liquidity-sensitive macro barometer, with its policy tailwind being repriced away.

June is the more plausible action window for the ECB, as April would require a further surge in energy prices. Either way, the old “cuts are just delayed a quarter” story is dead.

Bitcoin is now trading on the global realization that the next move from major central banks may not be cuts at all.

Mentioned in this articlePosted in

11h30 ▪ 4 min read ▪ by Luc Jose A.

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The market is starting to test the strength of Bitcoin’s rebound again. Prediction platforms Polymarket and Kalshi now assign a strong probability to BTC dropping below 55,000 dollars in 2026, while US spot Bitcoin ETFs plunge back into the red. Such a sequence revives doubts about the strength of the rebound.

In Brief Prediction markets see Bitcoin falling below 55,000 dollars in 2026. The bearish scenario is gaining ground on Polymarket and Kalshi. Strategy remains solid, despite increasing market risk. The 55,000 dollar threshold becomes a key marker of rebound fragility. Prediction markets sharply revise downward risk On prediction markets, the scenario of Bitcoin below 55,000 dollars is no longer a marginal hypothesis. “Bitcoin’s price has between 65 % and 71 % chance of dropping below 55,000 dollars by December 31”, according to prediction markets, linking this increased risk to a market lacking bullish catalysts and remaining exposed to macroeconomic uncertainties.

This 55,000 dollar level weighs especially heavily in the debate as it marks a break from levels observed earlier in the year. Indeed, the Bitcoin low point in 2026 currently stands at 59,940 dollars, reached on February 6, and the last time the BTC/USD pair dropped below 55,000 dollars was in February 2024. In other words, this drop is now massively priced in by traders on Polymarket and Kalshi.

On Polymarket, bettors assign about 71 % probability to BTC dropping below 55,000 dollars before December 31, a rise of 13 points in one day ; The same market gives 59 % chance of dropping below 50,000 dollars and 46% chance of a decline to 45,000 dollars before year end ; On Kalshi, traders see 71 % chance of a return below 60,000 dollars, 65% below 55,000 dollars, and 31% probability of a drop to 40,000 dollars ; Some analysts believe the downward trend remains active, going so far as to call the rebound towards 76,000 dollars a bull trap. Strategy holds firm, ETFs plunge back into the red Strategy firm is often viewed as a barometer of institutional conviction on Bitcoin. Thus, the recent drop to 69,000 dollars brought the price below the firm’s average purchase price, established at 75,696 dollars.

Despite this, bettors do not anticipate a quick capitulation. The probability of Strategy selling bitcoins in 2026 remains below 15%, which Polymarket more precisely estimates at 13 % for the December 31, 2026 deadline.

At the same time, traders continue to bet on continued buying, with a nearly 96% chance that the company will announce more than 800,000 BTC held by the end of 2026, as Michael Saylor’s company already holds 761,000 BTC after purchasing 22,337 BTC for around 1.6 billion dollars.

The third highlighted signal concerns US spot Bitcoin ETFs. They returned to the red this Wednesday. Farside Investors data confirms that as of March 19, the daily balance stands at -90.2 million dollars, with -38.3 million for IBIT, -26.0 million for FBTC, -17.2 million for BITB, and -15.2 million for ARKB.

Furthermore, the biggest ETF in the segment recorded 34 million dollars in outflows as market sentiment dropped back into “extreme fear”. This sequence alone does not prove that a drop below 55,000 dollars is guaranteed. However, it does show that as prediction markets strengthen their bearish scenario, peripheral signals go in the same direction.

Bitcoin is caught between market caution and lack of catalysts. The Fed maintains its rates amid geopolitical tensions, a decision that feeds wait-and-see attitudes, weakens the rebound, and leaves downside risk at the center of the game.

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Luc Jose A.

Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019. Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.

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.

Ray Dalio does not mince words. The billionaire hedge fund founder, speaking on the All-In Podcast on March 3, 2026, delivered what may be his most pointed critique of Bitcoin yet:

"Bitcoin does not have privacy. Any transactions can be monitored and then indirectly perhaps controlled."

For an investor who has spent decades studying the rise and fall of monetary systems, this was not a casual observation. It was a structural diagnosis. And coming days after he warned Tucker Carlson that central bank digital currencies would create a world with "no privacy" where governments could monitor every transaction in real time, the message was clear: Dalio believes financial privacy is the defining issue of this era — and Bitcoin does not solve it.

He is right about Bitcoin. But he may be unaware that the cryptocurrency he described — one with true privacy, sound monetary policy, and no corporate or government control — already exists.

The All-In Critique
Dalio's argument on the All-In Podcast was precise and multi-layered. Asked why Bitcoin has underperformed gold during the current macro cycle, he pointed to three structural weaknesses:

Privacy: "Bitcoin does not have privacy. Any transactions can be monitored and then indirectly perhaps controlled." Institutional suitability: Bitcoin's transparency makes it unsuitable for sovereign reserves — any nation-state's holdings and movements would be visible to adversaries. Market structure: Bitcoin remains "a relatively small market" with "a relatively controllable market" dynamic, trading with "a pretty high correlation with tech stocks." The first two concerns are directly addressed by privacy-preserving cryptocurrency technology. The third is a function of Bitcoin's current investor base, not an inherent property of blockchain technology.

What makes Dalio's critique significant is that he is not dismissing cryptocurrency wholesale. He has owned Bitcoin. He has spoken favorably about the concept of decentralized money. His concern is specific: Bitcoin's transparency makes it vulnerable to the very surveillance and control that it was designed to circumvent.

The Tucker Carlson Warning

Weeks before his All-In appearance, Dalio sat down with Tucker Carlson to discuss America's debt crisis and the potential for central bank digital currencies. His warning was stark:

"There's a great deal of appeal because of the fact that it's easy and so on… And I think it'll be done." But he cautioned that all CBDC transactions would be "known to the government," enabling not just tax collection and anti-money laundering enforcement, but potentially the ability to "cut off politically disfavored individuals or entities from the system."

When Carlson pressed on whether a government could use CBDCs to financially exclude dissidents, Dalio acknowledged the concern was legitimate. The implication was clear: financial privacy is not just a cypherpunk ideal — it is a safeguard against authoritarian overreach.

Enter Mimblewimble If Dalio's framework identifies the problem — digital money that is transparent to governments is digital money that is controllable by governments — then the solution must be a digital asset that provides privacy at the protocol level. Not as an add-on. Not as an option. As a default.

This is precisely what the Mimblewimble protocol delivers. Developed from a 2016 paper by an anonymous researcher, Mimblewimble is a blockchain design that achieves consensus and prevents double-spending without recording transaction details on a public ledger. There are no addresses on the chain. Amounts are hidden through Pedersen commitments. The transaction graph is invisible because inputs and outputs are aggregated across blocks.

The result is a blockchain that proves its own integrity — no inflation, no double-spends, no counterfeiting — without revealing who sent what to whom.

Epic Cash: The Bitcoin That Dalio Hasn't Heard Of Epic Cash (epiccash.com) is a Mimblewimble-based cryptocurrency that launched in 2019 with a design philosophy that reads like a response to every objection Dalio has raised about Bitcoin:

On privacy: Every Epic Cash transaction is private by default. There is no transparent mode. No addresses appear on-chain. No chain analytics firm can trace the flow of funds. This is not privacy through obscurity — it is privacy through cryptographic certainty.

On institutional suitability: A central bank holding Epic Cash would not have its positions visible to adversarial nations, competitors, or domestic political opponents. The asset satisfies the same privacy requirements that make gold suitable for sovereign reserves.

On monetary soundness: Epic Cash has a hard cap of 21 million coins and follows the exact same emission schedule as Bitcoin — identical halving events, identical inflation curve. It is proof-of-work mined with a hybrid algorithm (RandomX, ProgPow, Cuckoo Cycle) that prevents mining centralization.

On fair launch: No premine. No ICO. No venture capital allocation. Every EPIC was mined into existence through computational work. In a market where most tokens were pre-allocated to insiders, Epic Cash's distribution mirrors Bitcoin's: purely merit-based.

On track record: Five-plus years of 100% uptime since March 2021, continuous development. EPICT, a tokenization layer, is currently in development.

Epic Cash was created by Max Freeman — not "founded" by a corporation or a foundation. There is no company behind it, no board of directors, no quarterly earnings pressure. Like Bitcoin, it exists as an open-source protocol maintained by a decentralized community.

Digital Gold — With Actual Privacy

Dalio's implicit benchmark is gold. He called gold "the most established money" and "the second largest reserve currency that central banks hold." His preference for gold over Bitcoin comes down to two properties: privacy and fungibility. Gold transactions are not recorded on a public ledger. One ounce of gold is identical to every other ounce.

Epic Cash satisfies both criteria. Every EPIC is fungible because there is no transaction history to create "clean" and "dirty" coins. Every transaction is private because the Mimblewimble protocol does not record the information necessary to trace it.

If Dalio's framework is correct — and it is hard to argue with the logic — then the natural conclusion is not that cryptocurrency fails as a reserve asset, but that the wrong cryptocurrency has been in the spotlight.

Bitcoin proved that decentralized, scarce, digitally native money is possible. Epic Cash adds the privacy and fungibility that make it viable.

Epic Cash trades today on NonKYC.io and CoinEx. More information is available at epiccash.com.

The debate over whether cryptocurrency can be sound money is over. The only remaining question is which cryptocurrency actually qualifies

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

The World Gold Council has proposed plans to develop a platform that will change how the metal operates in digital financial systems.

Summary

World Gold Council has proposed a “Gold as a Service” platform aimed at standardizing and scaling tokenized gold products across digital financial systems. The model seeks to link physical gold custody with digital issuance frameworks while streamlining processes such as compliance, reconciliation, and redemption. In a white paper released on March 18, the World Gold Council outlined plans for a proposed “Gold as a Service” platform that would “support the issuance and operation of scalable, interoperable digital gold products.”

The platform would link the physical custody of gold with digital systems used to issue and manage tokenized gold products. It would standardize essential market processes such as custody coordination, reconciliation, compliance, and redemption to “reduce operational complexity, improve access, and enable greater consistency across digital gold products,” the World Gold Council said.

Among some of the key features, the new service would include standardizing tokenized gold issuance and management, improving digital gold’s fungibility, embedding audits and assurance, enabling interoperability with existing financial rails, and improving liquidity in lending and borrowing markets.

According to CEO David Tait, gold must evolve to maintain its role in the global financial system.

“Shared infrastructure can help gold become more accessible, more easily traded and fully integrated into modern financial systems, ensuring it remains as relevant tomorrow as it has been for millennia,” he added.

It must be noted that similar products already exist, such as Tether Gold or Pax Gold, which have built their own custody, compliance, and redemption frameworks. However, the Council’s position in the space could offer its platform an edge among institutional participants.

World Gold Council’s push for digital gold As previously reported by crypto.news, in September last year, Tait said the group was working on a framework that would allow participants to “pass gold digitally around the gold ecosystem, as collateral, for the first time.”

He said gold is often seen as a static unyielding asset, and by digitalizing it, the metal could be used for margins and collateral, generating profit for investors through a structure referred to as “pooled gold interest” or PGI.

A pilot for the initiative was planned for the first quarter of 2026.

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Bitcoin crashed through the $55,000 support level on Monday. Traders who’d been watching this critical threshold now see their worst fears coming true as the world’s largest cryptocurrency struggles to find its footing in an increasingly volatile market environment.

Polymarket and Kalshi both put strong odds on Bitcoin falling below $55,000 in 2026, and those predictions are looking pretty accurate right now. The predictive markets had been flashing warning signs for weeks, with betting odds shifting dramatically as institutional money started pulling back from crypto positions. Market makers on both platforms saw increased activity as traders positioned for the downside move.

Bitcoin dominance fell to 41.8%. Not great.

U.S. spot Bitcoin ETFs that had briefly moved into positive territory are now sliding back into the red again. The ETF performance tells a clear story about institutional sentiment – big money managers aren’t really convinced this rally has legs. BlackRock’s IBIT and Fidelity’s FBTC both saw outflows last week as fund managers rotated into traditional assets. The ETF slump is hitting retail confidence too, with Coinbase reporting nervous selling from smaller accounts.

But Michael Novogratz from Galaxy Digital isn’t panicking yet. Speaking at a conference on March 20, Novogratz said: “The psychological impact of breaking $55,000 can’t be ignored, but we’ve seen Bitcoin recover from worse situations.” He thinks the current weakness is temporary, though he admits the next few weeks will be crucial for determining Bitcoin’s direction.

Exchange Activity Surges Binance saw trading volume jump 12% as the selloff accelerated. The world’s largest crypto exchange is handling massive order flow as both bulls and bears place their bets on Bitcoin’s next move. Some traders are doubling down on short positions while others are buying what they see as a discount. Binance’s futures markets are seeing particularly heavy activity, with open interest climbing to new monthly highs.

Coinbase CEO Brian Armstrong acknowledged the volatility in a statement Monday: “We’re seeing a 15% increase in trading volume as investors react to recent price swings.” The Nasdaq-listed exchange is benefiting from the chaos, collecting fees on both sides of the trade as nervous investors adjust their positions.

And the Fed isn’t helping matters. The central bank’s March 18 decision to hold rates steady created mixed reactions across risk assets, including Bitcoin. Some traders thought stable rates would be good for crypto, but others worry about what comes next if inflation picks up again.

Cathie Wood from ARK Invest remains bullish despite the carnage. Wood keeps saying Bitcoin will hit massive highs eventually, driven by institutional adoption and tech improvements. Her fund continues buying the dip, though ARK’s Bitcoin holdings are down significantly from their peaks. Wood’s team sees current prices as a buying opportunity rather than a sign of fundamental weakness. This echoes themes explored in Bitcoin Drops Below K as Fed, underscoring the shifting landscape.

Ethereum Follows Bitcoin Down Ethereum dropped to $1,750 as it tracked Bitcoin’s decline. The second-largest crypto by market cap rarely moves independently when Bitcoin is in freefall, and Monday was no exception. Vitalik Buterin commented on the volatility, saying developers need to stay focused on platform upgrades regardless of price action.

Glassnode data shows Bitcoin withdrawals from exchanges increased sharply over the weekend. When holders move coins to private wallets, it usually means they’re expecting more volatility and want to avoid getting caught in exchange liquidations. The withdrawal pattern suggests long-term holders are hunkering down for a potentially rough period ahead.

MicroStrategy CEO Michael Saylor isn’t budging from his Bitcoin strategy. The company still holds over 140,000 BTC despite the recent price weakness, and Saylor keeps preaching about Bitcoin’s long-term value as an inflation hedge. MicroStrategy stock is getting hammered as Bitcoin falls, but Saylor seems unfazed by the short-term pain.

Grayscale’s Bitcoin Trust saw lower inflows in recent months as institutional investors turn cautious. The trust, which used to be a popular way for big players to get Bitcoin exposure, is reflecting the broader institutional hesitation about crypto right now. Grayscale management admits current market sentiment is affecting investor decisions pretty significantly.

Solana and Cardano are seeing some increased interest as traders diversify away from Bitcoin. Both altcoins experienced higher trading volumes last week as investors looked for alternatives to the struggling flagship cryptocurrency.

Anthony Pompliano tried to calm nerves in a March 20 interview, calling the current conditions “a natural part of Bitcoin’s growth cycle.” The well-known Bitcoin advocate wants people to focus on long-term fundamentals rather than daily price moves, though that’s easier said than done when portfolios are bleeding red. This echoes themes explored in XRP Drops to .50 as Shiba, underscoring the shifting landscape.

The SEC hasn’t released new crypto guidance in 2026, leaving traders guessing about potential regulatory changes. Without clear rules from Washington, market participants are flying blind on what might come next from regulators. That uncertainty is definitely contributing to the current selling pressure as institutional players stay on the sidelines until they get more clarity.

The options market is pricing in extreme volatility ahead, with Bitcoin’s implied volatility spiking to levels not seen since early 2024. Deribit, the largest crypto options exchange, reported record put option volumes as traders hedge against further downside. Professional market makers are widening spreads significantly, reflecting uncertainty about Bitcoin’s near-term direction and making it more expensive for retail traders to execute positions.

Mining operations face renewed pressure as Bitcoin’s price decline squeezes profit margins. Marathon Digital and Riot Platforms, two of the largest publicly traded miners, saw their stock prices fall alongside Bitcoin on Monday. Smaller mining operations using older equipment may need to shut down temporarily if prices remain depressed, potentially reducing network hash rate and creating additional selling pressure as miners liquidate holdings to cover operational costs.

Frequently Asked QuestionsWhat probability do prediction markets give for Bitcoin falling below $55,000?Polymarket and Kalshi both show strong odds for Bitcoin dropping below $55,000 in 2026, with the prediction proving accurate as Bitcoin has now broken through that level.

How are Bitcoin ETFs performing right now?U.S. spot Bitcoin ETFs have slipped back into negative territory after briefly moving positive, with outflows from major funds like BlackRock’s IBIT and Fidelity’s FBTC.

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Bitcoin [BTC] erased last week’s gains as traders de-risked before and after the Fed rate decision, which happened on the 18th of March.

After surging 15% to a local high of $76K, partly boosted by the escalating West Asia crisis, BTC reversed and dumped by 10% in the past three days. And ETF investors led the risk-off move. 

In the days that followed, the Spot BTC ETFs recorded a $323 million in net outflows, breaking the inflow streak seen in the past seven days of trading. 

Source: BTC/USDT, TradingView  But the BTC pullback has since hit a key 50-day Simple Moving Average (SMA, blue), with another support zone just above $65K. These could offer a new base for bulls to regroup, but it is unclear whether the levels will be defended ahead of next week’s mega quarterly Option expiry. 

Morgan Stanley files an amended S-1 for spot BTC ETF application Meanwhile, Morgan Stanley has submitted an amended S‑1 registration to the SEC, including the MSBT ticker for its spot BTC ETF application.

In its initial application in January, the bank listed Coinbase and BNY Mellon as custodians. Coinbase would handle the prime brokerage while Mellon would act as a cash custodian. 

If approved, Morgan Stanley would be the first major U.S. bank to directly issue its spot BTC ETF.  It would join Canada’s Scotia Bank, which has also opted to directly offer crypto ETF products. 

For Morgan Stanley, crypto adoption was ‘still early,’ with Amy Odelnburg, the firm’s head of crypto strategy, noting current demand only coming from self-directed investors and not accounts managed by advisors. 

Even the distribution of these ETFs, about 80% of what we see on our platform, is coming through the self-directed business.

For his part, Bloomberg ETF analyst James Seyffart noted that the amendment meant MSBT would debut soon. 

Paul Atkins clarifies SEC’s interpretation of crypto assets Finally, SEC Chairman Paul Atkins has clarified the agency’s crypto plans after the recent interpretation of crypto assets, which deemed most digital assets as non-securities. 

For Atkins, this was ‘just the beginning,’ stating that the guideline would act as a bridge as Congress tries to advance the broader market structure bill, the CLARITY Act. 

He added, 

Our rules must be clear enough to guide markets, flexible enough to accommodate innovation, and firm enough to protect investors.

But he cautioned that the ‘token taxonomy’ was just the agency’s interpretation, and the court may challenge or ‘deviate’ from it. Even so, he committed to following up on the guidance with a proposal rule and sandbox for exemption to advance innovation. 

We’ll shortly follow up with a proposed rule to put much more of this into effect. And construct a series of exemptions, equivalent to a sandbox for people to experiment and develop a proof-of-concept for their products.

Final Summary  BTC’s pullback eased at $70K following a der-risking move led by ETF investors after a $323M in outflows  SEC chair said the agency will soon make proposed rules related to the recent interpretation of the crypto assets framework. 

The Trump family has expanded its presence in the crypto community with a major development for artificial intelligence (AI) agents. According to reports, World Liberty Financial (WLFI) has rolled out AgentPay SDK, a first-of-its-kind open-source software development kit for empowering AI agents financially.

In an announcement on X, Donald Trump Jr. highlighted the idea behind the product: that AI agents should do more. He asserts, “AI agents that can reason but can’t pay for anything are just expensive interns.” 

What does AgentPay SDK offer the crypto market? In the spirit of Satoshi Nakamoto’s decentralization, WLFI has introduced a payment method that respects users’ privacy. According to the team, “It works inside the coding tools users already use. It runs on your machine, not ours, and sends zero data to WLFI.”

The launch is a concrete fulfillment of the promises Co-Founder Zak Folkman hinted at just eight days ago, when he teased that something big was in the works for AI-powered payments. The architecture is built upon a basic principle: Agents can transact, but humans control the rules.

As per WLFI, AgentPay SDK offers features such as self-custodial key management, policy-first transaction authorization, and, via its plug-in functionality, integration with the tools that users already use to build their agents: Claude Code, Codex, Cursor, OpenClaw, and others.

How does the operational process look? The policy engine allows setting per-transaction and daily spend limits. Transactions under the limit are executed automatically. Transactions over the limit are suspended and wait for manual approval via the CLI. 

If the wallet is low on funds, the SDK stops its execution, indicates what is missing, and provides a QR code for mobile top-up instead of a failed transaction, thus saving gas.

According to the official announcement, signing is done locally using Unix domain sockets. The private key is never sent to the agent, the skill pack, or any external service. WLFI stressed repeatedly: no data is sent to the company.

USD1 is pre-configured for Ethereum and BSC, using the same contract address on both networks. It is also pre-configured for additional EVM networks.

AgentPay SDK transaction with USD1. Source: World Liberty In case of a shortage, “The SDK doesn’t retry a doomed transaction. It stops and shows your agent exactly what’s needed: wallet address, network, chain ID, which assets are short, and a QR code for mobile top-up. The agent relays that information back to you.”

Why autonomous agent economics matter The ecosystem for crypto and AI is contributing to the sense of urgency for Circle, as they work on blockchain infrastructure and nanopayments for agents. Stripe is working on its blockchain, Tempo, for stable payments.

Coinbase has created an incubated open standard, x402, for agent-based payments. Shopify is working on stable payments.

OpenAI has hired the creator of the autonomous-agent framework, OpenClaw. 

The Winklevoss twins’ Gemini Exchange offered a similar sentiment in their shareholder letter this week. They emphasized that “AI is money for machines” and announced the addition of Model Context Protocol (MCP) as a fourth API interface for AI agents.

WLFI’s crypto investments targeted by political antics USD1 investments have raised eyebrows among critics, including Democratic lawmakers such as Senator Elizabeth Warren and Representative Maxine Waters. 

Binance has also been caught up in the controversy. The stablecoin gained significant impetus after a $2 billion investment into Binance by MGX was settled in USD1, a fund based in Abu Dhabi. Binance currently owns approximately 87% of the stablecoin’s total supply. 

WLFI has filed for a National Trust Bank charter with the OCC. This will enable them to internalize the issuance, custody, and conversion of the stablecoin. 

WLFI has provided a roadmap for the SDK’s further development. The next step in the roadmap is implementing EIP-3009. This is a gasless meta-transactions protocol that enables agents to transact without gas tokens. This is a key development in enabling autonomous transactions. 

Other developments in the roadmap include the filing of an EIP for a policy-aware agent interface, a white paper on the security of AI agent payments, a plugin architecture for extensions, and further development in the realms of cross-border payments, FX, remittance, settlement, and DeFi protocol.

Data shows the Bitcoin perpetual futures market has seen a negative Funding Rate recently, suggesting a bearish sentiment is dominant.

Bitcoin Perpetual Futures Traders Are Betting On The Short Direction As highlighted by Glassnode analyst Chris Beamish in an X post, the Bitcoin perpetual futures Funding Rate has been negative recently. The “Funding Rate” here refers to an indicator that measures the amount of periodic fee that traders on the various centralized derivatives exchanges are paying each other right now.

When the value of the metric is positive, it means the long holders are paying a premium to the short ones in order to hold onto their positions. Such a trend implies a bullish sentiment is shared by the majority.

On the other hand, the indicator being under the zero mark implies the shorts outweigh the longs and a bearish mentality is the dominant force in the perpetual futures market.

Now, here is the chart shared by Beamish that shows the trend in the 3-day moving average (MA) of the Bitcoin Funding Rate over the past few months:

Looks like the value of the metric has plunged into the negative territory recently | Source: @ChrisBeamish_ on X As displayed in the above graph, the 3-day MA of the Bitcoin Funding Rate was positive earlier even as the cryptocurrency’s price went through a bearish shift. This suggests that perpetual futures traders were trying to bet on a market reversal back to a bullish trend.

In March so far, BTC has found some stability and made some recovery, but from the chart, it’s visible that the market expectations have now flipped, with shorts instead dominating. This also didn’t change during BTC’s recent rally above $75,000.

Generally, the side of the market that’s stronger is more vulnerable to mass liquidation events. As such, while the long investors were getting squeezed during the downtrend, it could be the short ones who might be at risk now.

In some other news, Glassnode has revealed in its latest weekly report how a supply gap exists between the $72,000 and $82,000 levels on the UTXO Realized Price Distribution (URPD).

How the latest URPD of BTC is looking | Source: Glassnode’s The Week Onchain – Week 11, 2026 The URPD tells us about the total amount of supply that was last moved at the various price levels visited by Bitcoin in its history. From the chart, it’s apparent that this indicator shows a chasm near the recent price levels, implying not a lot of supply has cost basis there.

Generally, supply walls above the spot price act as resistance levels as investors exit at their break-even level fearing price pullbacks. Though, while there isn’t much in the way of this on-chain resistance until $82,000, BTC’s recent attempt to get through the range still ended up in failure.

BTC Price Bitcoin has dropped back to the $70,400 level following its latest retrace.

The trend in the price of the coin over the last five days | Source: BTCUSDT on TradingView Featured image from Dall-E, chart from TradingView.com

The SEC lawsuit against Ripple that was compressing XRP sentiment for many years has finally concluded a few months back. Exchanges that had previously delisted the cryptocurrency are now back offering it. And yet, the token has spent the first few months of this year trading sideways, while the broader crypto market was moving around it. This, naturally, started the uncomfortable questions about what it is that drives XRP’s value now that the legal overhang is completely gone.

The XRP Ledger continues generating genuine network value through payment throughput, real-world asset tokenization, and stablecoin rails. The token itself, however, captures only a tiny fraction of that. The gap is becoming structural rather than temporary. XRP is no longer competing agaisnt other cryptocurrencies, but also against prominent stablecoin networks, SWIFT upgrades, CBDC initiatives (however scarce), and the bank consortia – all of which are targeting the same cross-border payment use case that it was built around. For holders who are watching that dynamic and weighing their options, a growing number are starting to look at Bitcoin Everlight.

The Problem With Holding XRP in 2026 XRP was originally designed and developed as a payment efficiency tool. It does that job particularly well. However, what it was not intended to do is generate returns for the people who hold it. The fees that are generated on the XRP Ledger are burned – not distributed, and while fee burn creates mild deflationary pressure, it moves the valuation in a macro-relevant way.

As some governments push forward with plans to develop their own CBDC and instant settlement infrastructure, the demand for a bridge currency that sits between two fiat rails weakens – and even with the firm’s roadmap. XRPL’s growing importance may come at the expense of XRP, as stablecoins and permissioned rails absorb a greater share of settlement activity.

In essence, whatever an XRP holder earns depends entirely on price appreciation, an environment where, let’s face it, that appreciation is far from guaranteed. Bitcoin Everlight, on the other hand, operates on entirely different structural logic.

A Validation Network That Distributes Bitcoin Bitcoin Everlight is a decentralized validation network in which each participant helps secure the blockchain infrastructure and earns Bitcoin rewards in return. The platform runs on a Transaction Validation Node framework responsible for validation, routing, and reward distribution across the network.

Furthermore, Everlight Shards – a participation layer which is designed to connect a user’s token position to the network’s fee revenue without them having to prove any technical involvement – was introduced in the protocol’s V2 update. The infrastructure itself runs in the background while shard holders are able to draw from the reward pool it generates and is denominated in BTC.

The simple comparison is this: where XRP holders predominantly wait on price action driven by factors mostly out of their control, Bitcoin Everlight shard holders participate in a network designed to distribute transaction routing fees back to them directly, paid in Bitcoin.

Before the presale opened, the project completed dual smart contract audits through Spywolf and Solidproof, alongside dual KYC verifications through Spywolf and Vital Block — independent verification of both the smart contract and the team’s identity before a single token was sold.

From Token Holding to Active Shard To enter the network, the user would first have to acquire BTCL tokens during the current presale phase. The starting entry point is $50. Once the user’s cumulative commitment goes past a certain tier threshold, the shard would activate automatically based on the value at the time of the purchase. The rewards will start being distributed from that moment and continue throughout the entire presale period, paid in BTCL at a fixed APY that’s tied to the active tier.

When the mainnet launches, fixed presale incentives will give way to performance-based BTC distribution that’s drawn from real transaction routing fee activity. The reward pool will scale with network usage, meaning that the more transaction volume flows through the infrastructure, the greater the potential distribution for active shard holders is going to be.

The Three Shard Tiers To put matters in perspective, the Azure Shard activates at a commitment of $500, and it can earn up to 12% APY in BTCL while the presale period lasts. It would then transition to BTC rewards once the mainnet is live. The Violet Shard is at $1,5000 and carries up to 20% APY, while the Radiant Shard is at $3,000 with 28% APY. Participants who hold tokens below any threshold will maintain a dormant shard position, which will upgrade automatically once the balance reaches the next tier. During the presale, tokens remain locked, and all commitments are final.

After mainnet, tiers are sustained through ongoing USD-equivalent BTCL balance rather than permanently locked in by a single presale purchase. If holdings grow past a threshold the shard upgrades; if a balance falls below one it adjusts to the appropriate level.

Entering During Phase 1 At the time of this writing, Bitcoin Everlight remains in the first phase of its presale, and it will run for six days with 472,500,000 tokens available at a price of $0.0008 per token. This is the earliest available entry point into a platform where the Bitcoin flows back to the participants from real network activity.

Everything about how the shard activation process works and what the BTC reward distribution looks like after mainnet can be explored here.

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Ethereum price is trading around $2,174 as of March 20, down more than 50% from its 52-week high of nearly $4,831 hit in August 2025. That’s a brutal drawdown, but Bitmine’s Tom Lee believes the worst is over.

The comments come as recently Lee called March a “turnaround month” for markets overall, pushing back on recession fears.

Tom Lee Makes the Bull Case for Ethereum Tom Lee’s argument draws on two analytical frameworks. The first comes from Tom DeMark, a market analyst who works with Bitmine.

DeMark has identified what he says is a 93% correlation between Ethereum’s recent price action and the S&P 500’s behavior during two historical episodes, the 1987 crash and the 2011 correction.

Based on the 1987 correlation, Ethereum should have bottomed on March 7. Under the 2011 parallel, the bottom is now.

“So using his analysis, we think we’re at the bottom or exiting the crypto winter now,” Tom Lee said.

Lee notes that during the 2025 cycle low, ETH traded at a 21% discount to the realized price before staging a recovery. The current discount is nearly identical, which he sees as a meaningful signal.

Lee also points to Ethereum’s long-term track record to frame the current moment. Over the past decade, ETH has returned approximately 49,000%, outperforming Bitcoin’s 11,000% and Nvidia’s roughly 6,500% gain over the same period.

Moreover, veteran trader Peter Brandt flagged a potential Ethereum bottom recently as well. He hinted at a rally toward $4,000 for the second-largest crypto.

Peter Brandt predicts an ETH move to $4000. Source: Peter Brandt on X However, not everyone is convinced. On social media, some users pushed back on Lee’s bottom call, with several pointing out that this is not the first time he has made it.

“I like Tom Lee but he has been saying it’s a bottom for like 6 months now,” one user wrote.

Bitmine Bets Big on Ethereum Bottom Call Nevertheless, the argument that Tom Lee puts forward is that Ethereum has consistently rewarded patience through prior cycles.

It is the same conviction that pushed Bitmine to hold 3,040,515 staked Ethereum, valued at approximately $6.6 billion at $2,185 per token. The firm also holds nearly $10 billion in crypto assets.

Bitmine ETH, BTC holdings. Source: CoinGecko The disclosures sent BMNR stock surging in premarket trading on March 16. When a firm with that level of ETH exposure calls a bottom, the market takes notice.

The second and more grounded argument uses the realized price metric, the average cost basis of all ETH currently held on-chain, which sits at $2,241. Ethereum is currently trading at roughly a 22% discount to that figure, meaning the average holder is underwater.

The bottom call may yet prove premature. But with Bitmine holding over billions in staked ETH and Lee making the case publicly, the firm has made its Ethereum position clear

Key Highlights TAO token has climbed more than 15% this week, with prices hovering between $289 and $298 Jensen Huang, CEO of NVIDIA, and investor Chamath Palihapitiya endorsed Bittensor’s distributed AI training approach during the All-In Podcast Covenant-72B, a 72-billion-parameter language model, represents the largest decentralized pre-training initiative ever documented Daily trading volume surged to $677 million while open interest climbed to $361 million, marking multi-month peaks Grayscale’s move to transform the Bittensor Trust into a spot ETF signals rising institutional appetite Bittensor (TAO) has seen its price climb to the $289–$298 range this week, registering gains exceeding 15% across a seven-day period. The upward momentum followed significant commentary on the All-In Podcast, where NVIDIA’s CEO Jensen Huang alongside venture investor Chamath Palihapitiya acknowledged a breakthrough achievement in distributed artificial intelligence.

Bittensor (TAO) Price During the podcast, Palihapitiya outlined how a substantial language model was successfully trained using dispersed hardware contributed by independent operators worldwide. “They successfully trained a 4 billion parameter LLaMA model in a completely distributed fashion, with numerous contributors offering spare computing power,” he explained, characterizing it as “an extraordinary technical achievement.”

The largest decentralised LLM pre-training run in history.

SN3 @tplr_ai trained Covenant-72B across 70+ contributors on open internet infrastructure.

Now it’s being discussed by @chamath with @nvidia CEO Jensen Huang.

Distributed, open-weight model training on Bittensor is… pic.twitter.com/aZZcigIyFW

— Openτensor Foundaτion (@opentensor) March 19, 2026

The actual model referenced has been identified as Covenant-72B, rather than the 4 billion parameter version mentioned in the discussion. The Opentensor Foundation verified that Covenant-72B is a 72-billion-parameter language model pre-trained using contributions from over 70 global participants utilizing conventional internet-connected hardware. The model posted a 67.1 MMLU benchmark score and its methodology is detailed in a March 2026 arXiv publication. This represents the most extensive decentralized LLM pre-training effort ever recorded.

Jensen Huang offered support for the wider vision of distributed AI development. “These two approaches aren’t mutually exclusive; they’re complementary,” Huang stated. “That’s absolutely certain.” He positioned proprietary and open-source frameworks as partners rather than rivals.

TAO appreciated roughly 5% within hours of the podcast airing, accompanied by trading volume that nearly doubled overnight.

Market Activity and Derivatives Interest Spike Blockchain analytics from Santiment indicate Bittensor’s daily trading volume peaked at $677.06 million on Sunday — the strongest showing since November 7. By Friday, volume maintained elevated levels at $521.92 million.

Source: Santiment Futures open interest monitored by CoinGlass advanced to $361.15 million on Monday, climbing from $131.94 million recorded on March 4. Friday’s reading stood at $331.95 million, also near recent highs.

Growing Institutional Participation Grayscale has submitted regulatory filings to restructure the Bittensor Trust into a spot exchange-traded fund. The trust currently trades at a premium valuation, which market observers interpret as evidence of strengthening institutional demand.

Bittensor has simultaneously activated Covenant-72B to stimulate utilization of its distributed computing infrastructure, while ongoing modular subnet development continues attracting both individual and institutional participants.

From a technical perspective, TAO trades above its 50-day, 100-day, and 200-day exponential moving averages. The Relative Strength Index registers 77, indicating overbought conditions. Immediate resistance appears near $305.30, with subsequent targets at $341.10 upon clearing that threshold.

https://twitter.com/ArdiNSC/status/2034879384750862788?s=20

Technical analyst Ardi identified a right-angled broadening descending wedge formation developing since October, with breakout confirmation requiring a daily close exceeding $302. Under that scenario, projected targets extend to the $360–$370 zone.

TAO has advanced 37% during the past week and 55.66% over the previous month, though it remains 61.13% beneath its all-time peak of $767.68 established in April 2024.

TLDR: AgentPay SDK runs entirely on the user’s machine and sends zero data back to WLFI at any point. USD1 comes pre-configured on Ethereum and BSC, with Bitrefill commerce built natively into the SDK. The policy engine pauses high-value transfers and routes them for manual operator approval before broadcasting. WLFI plans EIP-3009 gasless meta-transactions, letting agents transact without holding native gas tokens. AgentPay SDK is now available as an open-source toolkit built for AI agents that handle money. World Liberty Fi (WLFI) released the tool alongside its USD1 stablecoin, framing both as infrastructure for autonomous systems.

The toolkit enables developers to build payment-capable agents that operate within programmable policy rules across EVM-compatible networks. It runs entirely on the user’s machine and sends zero data back to WLFI.

How the AgentPay SDK Manages Payments Across EVM Chains The AgentPay SDK processes payments across four functional layers. These include a CLI tool, a local signing daemon, a policy engine, and a skill pack. The skill pack auto-detects and installs into Claude Code, Codex, Cursor, Windsurf, Cline, and Goose.

When an agent initiates a transfer, the skill pack routes it to the right network automatically. For USD1, the SDK defaults to Binance Smart Chain for low gas costs and fast finality. The routing follows pre-configured settings without requiring manual input from the developer.

Before broadcasting, the SDK checks whether the wallet holds enough USD1 and BNB for gas. The local policy engine then evaluates the transfer against the user’s defined spending rules. It checks the per-transaction limit and the daily cap before authorizing the payment.

Transaction signing happens entirely on the local machine through Unix domain sockets. The private key never touches the agent, the skill pack, or any external service. This architecture keeps custody with the operator and ensures no credentials travel over the network.

When a wallet lacks sufficient funds, the SDK stops and returns a structured error response. It provides the wallet address, required assets, chain ID, and a QR code for top-up. The agent relays this context to the user, turning a failed payment into a recoverable workflow.

Policy-Based Approvals and the USD1 Development Roadmap WLFI introduced the AgentPay SDK on X, writing, “Financial Infrastructure for the Agentic Economy.” The post noted that AI systems remain poor at operating with money despite their strong reasoning ability. The SDK addresses that gap through local signing, policy enforcement, and native agent-tool integration.

The AgentPay SDK includes a threshold-based approval layer for transactions that exceed defined caps. When a transfer crosses the limit, the SDK pauses and generates a manual approval request. The operator approves it with a single CLI command, after which the transaction signs and broadcasts.

USD1 comes pre-configured on Ethereum and BSC at contract address 0x8d0D000Ee44948FC98c9B98A4FA4921476f08B0d. B

itrefill integration ships natively, allowing agents to purchase gift cards, eSIMs, and prepaid products. The SDK also includes over 40 CLI commands covering wallet management, chain switching, and account recovery.

The roadmap includes EIP-3009 for gasless meta-transactions, removing the need for agents to hold gas tokens. WLFI also plans an EIP proposal for policy-aware agent interfaces and a white paper on AI agent payment security. A plugin ecosystem for third-party extensions is in development alongside these proposals.

Cross-border payments, DeFi protocol integrations, remittance, and institutional settlement are planned for later phases.

These would extend the AgentPay SDK into broader financial workflows beyond single-chain EVM transfers. The goal is to position USD1 as the settlement asset for payment-enabled autonomous agents at scale.

According to a new 2026 survey published by Ripple, global finance leaders are moving to integrate crypto, stablecoins, and tokenization into their operations at a rather aggressive pace. 

The San Francisco-based enterprise blockchain company has surveyed more than 1,000 executives across banks, asset managers, fintech companies, and corporate finance departments. 

Notably, 72% of respondents stated that offering digital asset solutions is now "table stakes" in order to be able to remain competitive. 

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Stablecoins become top treasury tool Institutional leaders no longer view stablecoins merely as a tool for executing cross-border payments. 

The survey found that 74% of finance leaders are convinced that stablecoins can significantly boost cash-flow efficiency and unlock trapped working capital. 

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Stablecoins are now being embedded directly into treasury management by key institutional participants. 

Fintechs leading the change Fintech companies are drastically outpacing traditional financial institutions and corporates across a slew of different metrics. 

Fintechs are currently setting the pace for real-world digital asset use cases over the next one to two years: Notably, nearly a third of such firms accept payments directly in stablecoins.  

The lion's share of finance leaders prefer a "one-stop-shop" infrastructure provider that can simultaneously handle integrated custody, orchestration, and compliance. 

An overwhelming 89% of respondents ranked digital asset storage and custody as their absolute top priority. There is strong demand for experienced partners capable of guiding them through the entire implementation lifecycle.